2024 Q1 Form 10-K Financial Statement

#000149315224009207 Filed on March 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $313.4K $312.2K $909.6K
YoY Change 26.27% 140.37% 68.54%
Cost Of Revenue $633.4K $664.5K $2.360M
YoY Change 7.76% -15.38% -7.67%
Gross Profit -$320.0K -$352.3K -$1.450M
YoY Change -5.77% -46.25% -28.07%
Gross Profit Margin -102.12% -112.82% -159.41%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $149.7K $153.1K $583.3K
YoY Change 0.35% -7.04% -4.25%
% of Gross Profit
Depreciation & Amortization $6.450K $7.350K $27.35K
YoY Change -5.43% 1.66% -5.17%
% of Gross Profit
Operating Expenses $783.1K $153.1K $2.943M
YoY Change 6.26% -7.04% -7.01%
Operating Profit -$469.8K -$505.4K -$2.033M
YoY Change -3.91% -38.38% -22.54%
Interest Expense $27.15K $25.48K $124.9K
YoY Change 3.59% 447.96% -382.54%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$442.6K -$479.9K -$1.908M
YoY Change -4.33% -41.15% -28.51%
Income Tax
% Of Pretax Income
Net Earnings -$442.6K -$479.9K -$1.908M
YoY Change -4.33% -41.15% -28.51%
Net Earnings / Revenue -141.24% -153.7% -209.8%
Basic Earnings Per Share -$0.01 -$0.06
Diluted Earnings Per Share -$0.01 -$0.01 -$0.06
COMMON SHARES
Basic Shares Outstanding 33.51M shares 33.51M shares 33.45M shares
Diluted Shares Outstanding 33.51M shares 33.45M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.093M $2.476M $2.476M
YoY Change -49.44% -41.48% -41.48%
Cash & Equivalents $2.100M $2.500M $2.476M
Short-Term Investments
Other Short-Term Assets $240.8K $96.78K $96.78K
YoY Change 158.36% -4.15% -4.15%
Inventory
Prepaid Expenses
Receivables $956.8K $1.003M $1.003M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $3.291M $3.576M $3.576M
YoY Change -33.08% -27.34% -27.34%
LONG-TERM ASSETS
Property, Plant & Equipment $33.20K $39.60K $218.3K
YoY Change -43.99% -39.44% -43.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $56.07K $56.07K $56.07K
YoY Change 0.0% 0.0% 0.0%
Total Long-Term Assets $232.2K $274.4K $274.4K
YoY Change -42.21% -38.34% -38.34%
TOTAL ASSETS
Total Short-Term Assets $3.291M $3.576M $3.576M
Total Long-Term Assets $232.2K $274.4K $274.4K
Total Assets $3.523M $3.851M $3.851M
YoY Change -33.77% -28.25% -28.25%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $171.2K $50.88K $50.88K
YoY Change 573.11% -28.42% -28.42%
Accrued Expenses $51.27K $14.19K $226.6K
YoY Change 9.72% -58.72% -1.83%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $439.5K $277.4K $277.4K
YoY Change 54.87% -8.09% -8.09%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $55.36K $55.36K
YoY Change -100.0% -79.32% -79.32%
Total Long-Term Liabilities $0.00 $55.36K $55.36K
YoY Change -100.0% -79.32% -79.32%
TOTAL LIABILITIES
Total Short-Term Liabilities $439.5K $277.4K $277.4K
Total Long-Term Liabilities $0.00 $55.36K $55.36K
Total Liabilities $439.5K $332.8K $332.8K
YoY Change -12.23% -41.57% -41.57%
SHAREHOLDERS EQUITY
Retained Earnings -$124.7M -$124.3M
YoY Change 1.55% 1.55%
Common Stock $127.8M $127.8M
YoY Change 0.12% 0.49%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.100M $3.500M $3.518M
YoY Change
Total Liabilities & Shareholders Equity $3.523M $3.851M $3.851M
YoY Change -33.77% -28.25% -28.25%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$442.6K -$479.9K -$1.908M
YoY Change -4.33% -41.15% -28.51%
Depreciation, Depletion And Amortization $6.450K $7.350K $27.35K
YoY Change -5.43% 1.66% -5.17%
Cash From Operating Activities -$391.1K -$545.0K -$2.295M
YoY Change -34.5% -3.9% 5.15%
INVESTING ACTIVITIES
Capital Expenditures $50.00 $1.560K $1.558K
YoY Change -92.88% 3020.0% 22.58%
Acquisitions
YoY Change
Other Investing Activities $0.00 $2.497M $57.15K
YoY Change -100.0% -97.88%
Cash From Investing Activities -$50.00 $2.496M $55.59K
YoY Change -100.0% -4991280.0% -97.94%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities $8.670K 4.500K $484.5K
YoY Change -98.21% -85.96%
NET CHANGE
Cash From Operating Activities -$391.1K -545.0K -$2.295M
Cash From Investing Activities -$50.00 2.496M $55.59K
Cash From Financing Activities $8.670K 4.500K $484.5K
Net Change In Cash -$382.5K 1.955M -$1.755M
YoY Change -87.58% -444.66% -144.31%
FREE CASH FLOW
Cash From Operating Activities -$391.1K -$545.0K -$2.295M
Capital Expenditures $50.00 $1.560K $1.558K
Free Cash Flow -$391.2K -$546.6K -$2.297M
YoY Change -34.57% -3.64% 5.16%

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<p id="xdx_80D_eus-gaap--BasisOfAccounting_zAWouVBNplSb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1) <span style="text-decoration: underline"><span id="xdx_82E_zl51a8df1Wrf">Business and Basis for Presentation</span></span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Research Frontiers Incorporated (“Research Frontiers” or the “Company”) operates in a single business segment which is engaged in the development and marketing of technology and devices to control the flow of light. Such devices, often referred to as “light valves” or suspended particle devices (“SPDs”), use colloidal particles that are either incorporated within a liquid suspension or a film, which is usually enclosed between two sheets of glass or plastic having transparent, electrically conductive coatings on the facing surfaces thereof. At least one of the two sheets is transparent. SPD technology, made possible by a flexible light-control film invented by Research Frontiers, allows the user to instantly and precisely control the shading of glass/plastic manually or automatically. SPD technology has numerous product applications, including SPD-Smart™ windows, sunshades, skylights and interior partitions for homes and buildings; automotive windows, sunroofs, sun visors, sunshades, rear-view mirrors, instrument panels, heads up displays and navigation systems; aircraft windows; museum display panels; eyewear products; and flat panel displays for electronic products. SPD-Smart light control film is now being developed for, or used in, architectural, automotive, marine, aerospace and appliance applications.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has primarily utilized its cash, cash equivalents, and investments generated from sales of our common stock, proceeds from the exercise of options and warrants, and royalty fees collected to fund its research and development of SPD light valves, for marketing initiatives, and for other working capital purposes. The Company’s working capital and capital requirements depend upon numerous factors, including the results of research and development activities, competitive and technological developments, the timing and cost of patent filings, and the development of new licensees and changes in the Company’s relationships with its existing licensees. The degree of dependence of the Company’s working capital requirements on each of the foregoing factors cannot be quantified; increased research and development activities and related costs would increase such requirements; the addition of new licensees may provide additional working capital or working capital requirements, and changes in relationships with existing licensees would have a favorable or negative impact depending upon the nature of such changes. We have incurred recurring losses since inception and expect to continue to incur losses as a result of costs and expenses related to our research and continued development of our SPD technology and our corporate general and administrative expenses. Our limited capital resources and operations to date have been substantially funded through sales of our common stock, exercise of options and warrants and royalty fees collected. As of December 31, 2023, we had working capital of approximately $<span id="xdx_90C_ecustom--WorkingCapital_iI_pn5n6_c20231231_z2zgG9AEK6bd" title="Working capital">3.3</span> million, cash and cash equivalents of approximately $<span id="xdx_902_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_pn5n6_c20231231_zRx8Co9bZ8t2" title="Cash and cash equivalents">2.5</span> million, shareholders’ equity of approximately $<span id="xdx_901_eus-gaap--StockholdersEquity_iI_pn5n6_c20231231_zWar9IAQLvrj" title="Shareholders' equity">3.5</span> million and an accumulated deficit of approximately $<span id="xdx_901_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20231231_zUzTBJgeZebe" title="Accumulated deficit">124.3</span> million. Our quarterly projected cash flow shortfall, based on our current operations, adjusted for any non-recurring cash expenses and adjusted for additional royalties expected to be received for use of our products in new production, for the next 12 months, is approximately $<span id="xdx_904_ecustom--NonrecurringCashExpenses_c20230101__20231231__srt--RangeAxis__srt--MinimumMember_z2hIAzYHpwpl" title="Non-recurring cash expenses">200,000</span> to $<span id="xdx_90A_ecustom--NonrecurringCashExpenses_c20230101__20231231__srt--RangeAxis__srt--MaximumMember_z2so23nwyGL5" title="Non-recurring cash expenses">250,000</span> per quarter. We may eliminate some operating expenses in the future, which will further reduce our cash flow shortfall if needed. Based on these assumptions, we currently expect to have sufficient working capital for at least 12 months from the issuance of these financial statements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the event that we are unable to generate sufficient cash from our operating activities or raise additional funds, we may be required to delay, reduce or severely curtail our operations or otherwise impede our on-going business efforts, which could have a material adverse effect on our business, operating results, financial condition and long-term prospects. The Company may seek to obtain additional funding through future equity issuances. There can be no assurance as to the availability or terms upon which such financing and capital might be available. The eventual success of the Company and generation of positive cash flow will be dependent upon the commercialization of products using the Company’s technology by the Company’s licensees and payments of continuing royalties on account thereof. To date, the Company has not generated sufficient revenue from its licensees to fund its operations.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q4 REFR Working Capital
WorkingCapital
3300000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
2500000 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
3500000 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-124300000 usd
CY2023Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1200000 usd
CY2023 REFR Amortized Cost Term Description
AmortizedCostTermDescription
These costs are required to be amortized over five years if the R&D activities are performed in the U.S., or over 15 years if the activities were performed outside the U.S.
CY2023Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
583000 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
2700000 usd
CY2023 us-gaap Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
57149 usd
CY2022 us-gaap Marketable Securities Realized Gain Loss Excluding Other Than Temporary Impairments
MarketableSecuritiesRealizedGainLossExcludingOtherThanTemporaryImpairments
-60143 usd
CY2022Q4 us-gaap Deferred Tax Assets In Process Research And Development
DeferredTaxAssetsInProcessResearchAndDevelopment
609000 usd
CY2022Q3 REFR Corporate Minimum Tax Rate
CorporateMinimumTaxRate
0.15 pure
CY2023Q1 REFR Excise Tax On Corporate Stock Rate
ExciseTaxOnCorporateStockRate
0.01 pure
CY2023Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
110000 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
109000 usd
CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_zLldWXtUJ8Qk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i) <span id="xdx_86F_zXaXb4vAG8l5">Use of Estimates</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of the Company’s consolidated financial statements requires management of the Company to make a number of estimates and assumptions relating to the reported amount of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during this period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 22.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023 REFR Recognized Benefit Measured
RecognizedBenefitMeasured
greater than 50 percent
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2808308 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2806750 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2768710 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2741362 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
39598 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
65388 usd
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
9032 usd
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
29219 usd
CY2023Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4800 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
4800 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
360 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
360 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
14192 usd
CY2022Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
34379 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
263000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Allowance For Doubtful Accounts
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsAllowanceForDoubtfulAccounts
248000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
12939000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
13561000 usd
CY2023Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
257000 usd
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits Share Based Compensation Cost
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost
334000 usd
CY2023Q4 REFR Deferred Tax Assets Tax Credit Carryforwards Research And Other Credits
DeferredTaxAssetsTaxCreditCarryforwardsResearchAndOtherCredits
834000 usd
CY2022Q4 REFR Deferred Tax Assets Tax Credit Carryforwards Research And Other Credits
DeferredTaxAssetsTaxCreditCarryforwardsResearchAndOtherCredits
891000 usd
CY2023Q4 REFR Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
56000 usd
CY2022Q4 REFR Deferred Tax Assets Lease Liability
DeferredTaxAssetsLeaseLiability
99000 usd
CY2023Q4 REFR Deferred Tax Assets Amortization
DeferredTaxAssetsAmortization
225000 usd
CY2022Q4 REFR Deferred Tax Assets Amortization
DeferredTaxAssetsAmortization
130000 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
35000 usd
CY2023Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
14719000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
15372000 usd
CY2023Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
38000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Leasing Arrangements
DeferredTaxLiabilitiesLeasingArrangements
69000 usd
CY2023Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
38000 usd
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
69000 usd
CY2023Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
14681000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
15303000 usd
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-401000 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
-561000 usd
CY2023 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1023000 usd
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
1011000 usd
CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-622000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-450000 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
64587000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Subject To Expiration
DeferredTaxAssetsOperatingLossCarryforwardsSubjectToExpiration
52995000 usd
CY2023 REFR Operating Loss Carryforwards Expiration Description
OperatingLossCarryforwardsExpirationDescription
expire in varying amounts from 2024 through 2038
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.80 pure
CY2023Q4 us-gaap Deferred Tax Assets Tax Credit Carryforwards Research
DeferredTaxAssetsTaxCreditCarryforwardsResearch
904000 usd
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
223000 shares
CY2023 us-gaap Share Based Compensation
ShareBasedCompensation
144728 usd
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares
178000 shares
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
232291 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.02
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.31
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.75 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.81 pure
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0384 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0399 pure
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
1399991 shares
CY2021Q4 REFR Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
2.27
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Granted
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted
1500000 shares
CY2022 REFR Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Issued In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsIssuedInPeriodWeightedAverageExercisePrice
2.76
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2899991 shares
CY2022Q4 REFR Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
2.52
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercised
358891 shares
CY2023 REFR Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Exercised In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsExercisedInPeriodWeightedAverageExercisePrice
1.35
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Forfeitures
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsForfeitures
461957 shares
CY2023 REFR Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Terminated In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsTerminatedInPeriodWeightedAverageExercisePrice
1.35
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingNumber
2079143 shares
CY2023Q4 REFR Share Based Compensation Arrangement By Share Based Payment Award Non Option Equity Instruments Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsOutstandingWeightedAverageExercisePrice
3.20
CY2023 REFR Lease Expiration Term
LeaseExpirationTerm
P1Y
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M18D
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.055 pure
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
222000 usd
CY2023Q4 REFR Lessee Operating Lease Liability Payments Due Year Two And Three
LesseeOperatingLeaseLiabilityPaymentsDueYearTwoAndThree
56000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
278000 usd
CY2023Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10278 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
267722 usd
CY2023 REFR Percentage Of Acquisition Threshold In Rights Agreement
PercentageOfAcquisitionThresholdInRightsAgreement
0.15 pure
CY2023Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
80
CY2023Q4 REFR Discount Price Of Stock
DiscountPriceOfStock
40
CY2023Q4 REFR Acquiring Assets Percent
AcquiringAssetsPercent
0.50 pure
CY2023Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
80
CY2023Q4 REFR Discount Price Of Stock
DiscountPriceOfStock
40
CY2023 REFR Rights Plan Expire Date
RightsPlanExpireDate
2033-02-11
CY2023Q4 REFR Rights Redemption Price Per Share
RightsRedemptionPricePerShare
0.0001

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