2020 Q2 Form 10-Q Financial Statement

#000142757020000047 Filed on July 30, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $1.702M $386.0K
YoY Change 340.93% -85.87%
Cost Of Revenue $865.0K $679.0K
YoY Change 27.39% -60.8%
Gross Profit $837.0K -$293.0K
YoY Change -385.67% -129.3%
Gross Profit Margin 49.18% -75.91%
Selling, General & Admin $831.0K $4.332M
YoY Change -80.82% -40.25%
% of Gross Profit 99.28%
Research & Development $465.0K $1.788M
YoY Change -73.99% -46.66%
% of Gross Profit 55.56%
Depreciation & Amortization $84.00K $430.0K
YoY Change -80.47% -69.06%
% of Gross Profit 10.04%
Operating Expenses $3.835M $6.120M
YoY Change -37.34% -42.28%
Operating Profit -$2.998M -$6.413M
YoY Change -53.25% -33.21%
Interest Expense -$789.0K -$295.0K
YoY Change 167.46% 417.54%
% of Operating Profit
Other Income/Expense, Net -$26.00K -$59.00K
YoY Change -55.93% -37.23%
Pretax Income -$3.654M -$16.51M
YoY Change -77.86% -19.56%
Income Tax -$50.00K -$586.0K
% Of Pretax Income
Net Earnings -$3.604M -$6.767M
YoY Change -46.74% -30.62%
Net Earnings / Revenue -211.75% -1753.11%
Basic Earnings Per Share -$0.93
Diluted Earnings Per Share -$0.93 -$150.2M
COMMON SHARES
Basic Shares Outstanding 3.896M 24.00M shares
Diluted Shares Outstanding 3.896M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $6.804M $4.355M
YoY Change 56.23% 134.14%
Cash & Equivalents $6.804M $13.51M
Short-Term Investments $0.00
Other Short-Term Assets $3.971M $954.0K
YoY Change 316.25% 11.32%
Inventory $0.00 $2.107M
Prepaid Expenses $640.0K $954.0K
Receivables $0.00 $447.0K
Other Receivables $3.150M $0.00
Total Short-Term Assets $10.78M $17.02M
YoY Change -36.7% -45.02%
LONG-TERM ASSETS
Property, Plant & Equipment $1.055M $1.038M
YoY Change 1.64% -31.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.295M $563.0K
YoY Change 130.02% 603.75%
Total Long-Term Assets $3.098M $2.178M
YoY Change 42.24% 43.86%
TOTAL ASSETS
Total Short-Term Assets $10.78M $17.02M
Total Long-Term Assets $3.098M $2.178M
Total Assets $13.87M $19.20M
YoY Change -27.74% -40.87%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.054M $1.082M
YoY Change -2.59% -25.12%
Accrued Expenses $4.422M $343.0K
YoY Change 1189.21% -92.38%
Deferred Revenue $123.0K $320.0K
YoY Change -61.56% 5.96%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $5.000M
YoY Change 26.1%
Total Short-Term Liabilities $5.599M $10.09M
YoY Change -44.51% -2.94%
LONG-TERM LIABILITIES
Long-Term Debt $430.0K $0.00
YoY Change -100.0%
Other Long-Term Liabilities $666.0K $0.00
YoY Change
Total Long-Term Liabilities $1.096M $722.0K
YoY Change 51.8% -88.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.599M $10.09M
Total Long-Term Liabilities $1.096M $722.0K
Total Liabilities $6.695M $10.81M
YoY Change -38.08% -34.15%
SHAREHOLDERS EQUITY
Retained Earnings -$181.9M -$163.8M
YoY Change 11.05% 22.88%
Common Stock $189.1M $172.2M
YoY Change 9.79% 15.33%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $19.15M $8.376M
YoY Change
Total Liabilities & Shareholders Equity $13.87M $19.20M
YoY Change -27.74% -40.87%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income -$3.604M -$6.767M
YoY Change -46.74% -30.62%
Depreciation, Depletion And Amortization $84.00K $430.0K
YoY Change -80.47% -69.06%
Cash From Operating Activities -$2.750M -$2.900M
YoY Change -5.17% -55.38%
INVESTING ACTIVITIES
Capital Expenditures $209.0K $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $209.0K $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 430.0K 5.427M
YoY Change -92.08% -27.93%
NET CHANGE
Cash From Operating Activities -2.750M -2.900M
Cash From Investing Activities 209.0K 0.000
Cash From Financing Activities 430.0K 5.427M
Net Change In Cash -2.111M 2.527M
YoY Change -183.54% 147.75%
FREE CASH FLOW
Cash From Operating Activities -$2.750M -$2.900M
Capital Expenditures $209.0K $0.00
Free Cash Flow -$2.959M -$2.900M
YoY Change 2.03% -55.32%

Facts In Submission

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CY2020Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
430000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3794000 USD
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
430000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2530000 USD
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-117000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-13998000 USD
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-7564000 USD
CY2019Q1 us-gaap Net Income Loss
NetIncomeLoss
-8290000 USD
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
-6767000 USD
us-gaap Net Income Loss
NetIncomeLoss
-15057000 USD
CY2020Q1 us-gaap Net Income Loss
NetIncomeLoss
-5261000 USD
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
-4188000 USD
us-gaap Net Income Loss
NetIncomeLoss
-9449000 USD
us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
6120000 USD
us-gaap Operating Expenses
OperatingExpenses
14763000 USD
CY2020Q2 us-gaap Operating Expenses
OperatingExpenses
4437000 USD
us-gaap Operating Expenses
OperatingExpenses
9587000 USD
CY2019Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-6413000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-14513000 USD
CY2020Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
-4157000 USD
us-gaap Operating Income Loss
OperatingIncomeLoss
-9068000 USD
CY2019Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
100000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
200000 USD
CY2020Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
100000 USD
us-gaap Operating Lease Cost
OperatingLeaseCost
300000 USD
CY2020Q2 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
400000 USD
CY2020Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
100000 USD
us-gaap Operating Lease Payments
OperatingLeasePayments
200000 USD
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1077000 USD
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
748000 USD
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.060
CY2019Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.070
CY2019Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
492000 USD
CY2020Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
277000 USD
CY2019Q4 us-gaap Other Assets Current
OtherAssetsCurrent
1959000 USD
CY2020Q2 us-gaap Other Assets Current
OtherAssetsCurrent
3971000 USD
CY2019Q4 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
69000 USD
CY2020Q2 us-gaap Other Assets Miscellaneous Current
OtherAssetsMiscellaneousCurrent
15000 USD
CY2019Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
0 USD
CY2020Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1295000 USD
CY2019Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
1524000 USD
CY2020Q2 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3603000 USD
CY2019Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-59000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-59000 USD
CY2020Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-26000 USD
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-411000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
20000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
117000 USD
CY2019Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1890000 USD
CY2020Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
640000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
8793000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
10000000 USD
us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
430000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
2550000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Shortterm Investments
ProceedsFromMaturitiesPrepaymentsAndCallsOfShorttermInvestments
0 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
1000 USD
us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
0 USD
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3407000 USD
CY2020Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3513000 USD
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1081000 USD
CY2020Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1055000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
15000000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
0 USD
CY2019Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
1788000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
4227000 USD
CY2020Q2 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
765000 USD
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
2022000 USD
CY2019Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-172430000 USD
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-181879000 USD
CY2020Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-181900000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
400000 USD
CY2019Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
386000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2161000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2200000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
703000 USD
CY2020Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
700000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1500000 USD
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1483000 USD
CY2019Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
107000 USD
CY2020Q2 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
83000 USD
CY2019Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
4332000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
10536000 USD
CY2020Q2 us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
2362000 USD
us-gaap Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
6255000 USD
CY2019Q2 us-gaap Share Based Compensation
ShareBasedCompensation
536000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1641000 USD
CY2020Q2 us-gaap Share Based Compensation
ShareBasedCompensation
292000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
762000 USD
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
191450 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
463000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.12
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0 USD
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
518468 shares
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
790018 shares
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
38.64
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
18.55
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
0 USD
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
284649 shares
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
46.65
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
0 USD
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumber
693494 shares
CY2020Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageExercisePrice
20.89
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0.00
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
30.03
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0.80
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y4M10D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P5Y9M4D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingWeightedAverageRemainingContractualTerm1
P8Y1M24D
CY2019Q2 us-gaap Stock Issued During Period Shares Restricted Stock Award Forfeited
StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited
24859 shares
us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2019Q1 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
581000 USD
CY2019Q2 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
8074000 USD
CY2019Q1 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
0 USD
CY2019Q2 us-gaap Stock Issued During Period Value Restricted Stock Award Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardForfeitures
0 USD
CY2019Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
1000 USD
CY2020Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
0 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
15849000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
7178000 USD
CY2018Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
13107000 USD
CY2019Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
6518000 USD
CY2019Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
8376000 USD
CY2019Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
15849000 USD
CY2020Q1 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
11072000 USD
CY2020Q2 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
7178000 USD
CY2019Q3 us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
0.10
CY2019Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2687829 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
2500619 shares
CY2020Q2 us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7728624 shares
us-gaap Weighted Average Number Of Share Outstanding Basic And Diluted
WeightedAverageNumberOfShareOutstandingBasicAndDiluted
7726915 shares
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Concentrations of Credit Risk </font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist primarily of cash equivalents and trade accounts receivable, which are generally not collateralized. The Company limits its exposure to credit loss by placing its cash equivalents with high credit quality financial institutions and investing in high quality short-term debt instruments. The Company&#8217;s customers consisted of physicians and institutions in the United States and one international distributor. The Company establishes customer credit policies related to its accounts receivable based on historical collection experiences within the various markets in which the Company operates, historical past-due amounts, and any specific information that the Company becomes aware of such as bankruptcy or liquidity issues of customers. </font></div></div>
us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:24px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;font-style:italic;font-weight:bold;">Use of Estimates</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period.</font></div><div style="line-height:120%;padding-top:8px;text-align:left;font-size:10pt;"><font style="font-family:inherit;font-size:10pt;">Reported amounts and note disclosures reflect the overall economic conditions that are most likely to occur and anticipated measures management intends to take. Actual results could differ materially from those estimates. All revisions to accounting estimates are recognized in the period in which the estimates are revised and in any future periods affected.</font></div></div>

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