2024 Q1 Form 10-K Financial Statement

#000143774924011939 Filed on April 15, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $4.209M $9.510M $25.08M
YoY Change 26.7% 33.53% 27.45%
Cost Of Revenue $2.477M $5.785M $15.30M
YoY Change 27.16% 41.93% 37.05%
Gross Profit $1.732M $3.725M $9.782M
YoY Change 26.06% 22.29% 14.88%
Gross Profit Margin 41.15% 39.17% 39.0%
Selling, General & Admin $4.379M $3.942M $22.71M
YoY Change -15.3% -12.06% -5.89%
% of Gross Profit 252.83% 105.83% 232.14%
Research & Development $1.699M -$97.34K $9.500M
YoY Change -42.52% -102.98% -40.16%
% of Gross Profit 98.09% -2.61% 97.12%
Depreciation & Amortization $700.0K $1.446M $5.376M
YoY Change -47.64% 7.27% -0.5%
% of Gross Profit 40.42% 38.82% 54.96%
Operating Expenses $6.337M $9.079M $42.62M
YoY Change -26.26% 17.12% -54.41%
Operating Profit -$4.605M -$5.354M -$32.84M
YoY Change -36.22% 13.77% -61.35%
Interest Expense $18.00K -$688.0K $50.00K
YoY Change -55.0% 269.89% -92.64%
% of Operating Profit
Other Income/Expense, Net -$655.0K -$180.0K $2.194M
YoY Change 3993.75% -94.4% -415.23%
Pretax Income -$5.260M -$13.27M -$30.64M
YoY Change -27.31% -18.92% -64.23%
Income Tax $0.00 $0.00 -$313.0K
% Of Pretax Income
Net Earnings -$5.260M -$13.27M -$30.33M
YoY Change -26.94% -18.13% -64.53%
Net Earnings / Revenue -124.97% -139.58% -120.94%
Basic Earnings Per Share -$1.00 -$13.67
Diluted Earnings Per Share -$1.00 -$3.08 -$10.84
COMMON SHARES
Basic Shares Outstanding 5.983M 4.235M
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.311M $7.609M $7.609M
YoY Change 461.19% 206.57% 206.57%
Cash & Equivalents $3.300M $7.600M
Short-Term Investments
Other Short-Term Assets $1.134M $862.0K $862.0K
YoY Change -3.82% -37.58% -37.58%
Inventory
Prepaid Expenses
Receivables $6.240M $8.287M $8.287M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $10.69M $16.76M $16.76M
YoY Change 104.22% 67.63% 67.63%
LONG-TERM ASSETS
Property, Plant & Equipment $53.00K $70.00K $70.00K
YoY Change -59.23% -52.38% -52.38%
Goodwill $1.864M $1.864M
YoY Change -77.54%
Intangibles $5.603M $6.636M
YoY Change -70.57% -66.93%
Long-Term Investments
YoY Change
Other Assets $395.0K $0.00
YoY Change
Total Long-Term Assets $7.915M $8.570M $8.570M
YoY Change -58.71% -57.6% -57.6%
TOTAL ASSETS
Total Short-Term Assets $10.69M $16.76M $16.76M
Total Long-Term Assets $7.915M $8.570M $8.570M
Total Assets $18.60M $25.33M $25.33M
YoY Change -23.78% -16.16% -16.16%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $7.110M $10.42M $10.42M
YoY Change 23.03% 55.59% 55.59%
Accrued Expenses $2.017M $1.812M $1.812M
YoY Change -45.1% -43.48% -43.48%
Deferred Revenue $334.0K $339.0K
YoY Change 1051.72% 205.41%
Short-Term Debt $370.0K $800.0K $800.0K
YoY Change 17.82% 17.82%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $9.831M $13.37M $13.37M
YoY Change 3.68% 25.04% 25.04%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $2.781M $1.967M $1.967M
YoY Change
Total Long-Term Liabilities $2.781M $1.967M $1.967M
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $9.831M $13.37M $13.37M
Total Long-Term Liabilities $2.781M $1.967M $1.967M
Total Liabilities $12.61M $15.34M $15.34M
YoY Change 28.76% 39.36% 39.36%
SHAREHOLDERS EQUITY
Retained Earnings -$254.3M -$249.0M
YoY Change 16.65% 18.18%
Common Stock $83.00K $81.00K
YoY Change 76.6% 72.34%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.988M $9.990M $9.990M
YoY Change
Total Liabilities & Shareholders Equity $18.60M $25.33M $25.33M
YoY Change -23.78% -16.16% -16.16%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$5.260M -$13.27M -$30.33M
YoY Change -26.94% -18.13% -64.53%
Depreciation, Depletion And Amortization $700.0K $1.446M $5.376M
YoY Change -47.64% 7.27% -0.5%
Cash From Operating Activities -$3.700M -$1.399M -$15.50M
YoY Change 23.33% -63.09% -21.72%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $165.0K $8.000K
YoY Change -100.0% -6.25% -94.63%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$150.0K
YoY Change
Cash From Investing Activities -$125.0K -$165.0K -$825.0K
YoY Change -57.48% -6.25% -51.18%
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 8.031M $21.44M
YoY Change -131.16% 51.39% 126.53%
NET CHANGE
Cash From Operating Activities -$3.700M -1.399M -$15.50M
Cash From Investing Activities -$125.0K -165.0K -$825.0K
Cash From Financing Activities -$430.0K 8.031M $21.44M
Net Change In Cash -$4.298M 6.467M $5.127M
YoY Change 127.17% 382.97% -142.54%
FREE CASH FLOW
Cash From Operating Activities -$3.700M -$1.399M -$15.50M
Capital Expenditures $0.00 $165.0K $8.000K
Free Cash Flow -$3.700M -$1.564M -$15.51M
YoY Change 23.09% -60.56% -22.26%

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NetCashProvidedByUsedInInvestingActivities
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CY2023 slgg Proceeds From Issuance Of Preferred Stock Net Of Issuance Costs
ProceedsFromIssuanceOfPreferredStockNetOfIssuanceCosts
19295000 usd
CY2022 slgg Proceeds From Issuance Of Preferred Stock Net Of Issuance Costs
ProceedsFromIssuanceOfPreferredStockNetOfIssuanceCosts
8926000 usd
CY2023 slgg Proceeds From Issuance Of Common Stock Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts
1885000 usd
CY2022 slgg Proceeds From Issuance Of Common Stock Net Of Issuance Costs
ProceedsFromIssuanceOfCommonStockNetOfIssuanceCosts
320000 usd
CY2023 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
0 usd
CY2022 us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
4000000 usd
CY2023 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
539000 usd
CY2022 us-gaap Repayments Of Convertible Debt
RepaymentsOfConvertibleDebt
3781000 usd
CY2023 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
800000 usd
CY2022 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0 usd
CY2023 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
21441000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
9465000 usd
CY2023 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
5127000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-12051000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2482000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
14533000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
7609000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
2482000 usd
CY2023 us-gaap Nature Of Operations
NatureOfOperations
<table border="0" cellpadding="0" cellspacing="0" style="width: 100%; text-indent: 0px;"> <tbody><tr style="vertical-align: top;"> <td style="width: 18pt;"> <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;margin:0pt;"><b>1.</b></p> </td> <td style="width: auto;"> <p style="font-family: 'Times New Roman', Times, serif;font-size: 10pt;font-variant:normal;text-align:justify;margin:0pt;"><b>DESCRIPTION OF BUSINESS</b></p> </td> </tr> </tbody></table> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">Super League Enterprise, Inc. (Nasdaq: SLE), (“Super League,” the “Company,” “we,” “us” or “our”) is a leading creator and publisher of content experiences and media solutions across the world’s largest immersive platforms. From open gaming powerhouses such as Roblox, Minecraft and Fortnite Creative, to bespoke worlds built using the most advanced 3D creation tools, Super League’s innovative solutions provide incomparable access to massive audiences who gather in immersive digital spaces to socialize, play, explore, collaborate, shop, learn and create. As a true end-to-end activation partner for dozens of global brands, Super League offers a complete range of development, distribution, monetization and optimization capabilities designed to engage users through dynamic, energized programs. As an originator of new experiences fueled by a network of top developers, a comprehensive set of proprietary creator tools and a future-forward team of creative professionals, Super League accelerates intellectual property (“IP”) and audience success within the fastest growing sector of the media industry.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Super League was incorporated on October 1, 2014 as Nth Games, Inc. under the laws of the State of Delaware and changed its name to Super League Gaming, Inc. on June 15, 2015, and to Super League Enterprise, Inc. on September 11, 2023. We are an “emerging growth company” as defined by the Jumpstart Our Business Startups Act of 2012, as amended.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">On May 30, 2023, the Company filed a Certificate of Amendment (the “2023 First Amendment”) to its Second Amended and Restated Certificate of Incorporation, as amended (the “Charter”), increasing the number of authorized shares of common stock, par value $0.001 per share (“common stock”) from 100,000,000 to 400,000,000. The Company’s Board of Directors (the “Board”) previously approved the Amendment on March 17, 2023, and the Company obtained the approval of the First Amendment by written consent of its stockholders holding greater than 50% of the voting securities of the Company on April 5, 2023.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">On September 7, 2023, the Company filed a Certificate of Amendment (the “2023 Second Amendment”) to the Charter, which Second Amendment became effective as of September 11, 2023, to change the name of the Company from Super League Gaming, Inc. to Super League Enterprise, Inc. (the “Name Change”) and to effect a reverse stock split of the Company’s issued and outstanding shares of common stock at a ratio of 1-for-20 (the “Reverse Split”). The Name Change and the Reverse Split were approved by the Company’s Board on July 5, 2023, and approved by the stockholders of the Company on September 7, 2023. Refer to Note 7 below for additional information regarding the Reverse Split.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">All references to common stock, warrants to purchase common stock, options to purchase common stock, restricted stock, share data, per share data and related information contained in the consolidated financial statements have been retroactively adjusted to reflect the effect of the Reverse Split for all periods presented.</p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;"> </p> <p style="font-family: &quot;Times New Roman&quot;; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">All references to “Note,” followed by a number reference from one to twelve herein, refer to the applicable corresponding numbered footnotes to these consolidated financial statements.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;">In connection with the Name Change, the Company also changed its Nasdaq ticker symbol to “SLE” from “SLGG.”</p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; text-align: justify; margin: 0pt;">Refer to Note 12. “Restatement of Quarterly Financial Information (unaudited), for information about the restatement of the Company’s financial statements as of and for the three and nine months ended September 30, 2023, arising from the exclusion of the calculated noncash value of the effect of the down round feature on the Company’s Series AA Preferred stock, triggered in August 2023, which should have been recorded as a noncash charge directly to accumulated deficit and a noncash reduction to income available to common stockholders in the computation of earnings per share.</p>
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2023Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
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CY2023 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><i>Use of Estimates</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expense during the reporting period. Actual results could differ from these estimates. The Company believes that, of the significant accounting policies described herein, the accounting policies associated with revenue recognition, impairment of intangibles, stock-based compensation expense, capitalized internal-use-software costs, accounting for business combinations and related contingent consideration, accounting for convertible debt, including estimates and assumptions used to calculate the fair value of debt instruments, accounting for convertible preferred stock, including modifications and exchanges of equity and equity-linked instruments, accounting for warrant liabilities and accounting for income taxes and valuation allowances against net deferred tax assets, require its most difficult, subjective, or complex judgments.</p>
CY2023 us-gaap Net Income Loss
NetIncomeLoss
-30300000 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-85500000 usd
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-249000000 usd
CY2023 slgg Noncash Stock Compensation Amortization And Impairment Charges
NoncashStockCompensationAmortizationAndImpairmentCharges
17300000 usd
CY2022 slgg Noncash Stock Compensation Amortization And Impairment Charges
NoncashStockCompensationAmortizationAndImpairmentCharges
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CY2023 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-15500000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-19800000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><i>Reclassifications</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Certain reclassifications to operating expense line items have been made to prior year amounts for consistency and comparability with the current year’s consolidated financial statement presentation. These reclassifications had no effect on the reported total revenue, operating expense, total assets, total liabilities, total stockholder’s equity, or net loss for the prior period presented.</p>
CY2023 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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CY2022 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
19677000 usd
CY2023Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
546000 usd
CY2022Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
1013000 usd
CY2021Q4 us-gaap Contract With Customer Asset Net
ContractWithCustomerAssetNet
231000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
339000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
111000 usd
CY2021Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
47000 usd
CY2023 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
111000 usd
CY2022 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
47000 usd
CY2023 us-gaap Advertising Expense
AdvertisingExpense
134000 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
507000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
0 usd
CY2021Q4 us-gaap Goodwill
Goodwill
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CY2023 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
1864000 usd
CY2022 us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
-0 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
50263000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
1864000 usd
CY2022Q4 us-gaap Goodwill
Goodwill
0 usd
CY2023Q4 slgg Reporting Unit Fair Value Amount
ReportingUnitFairValueAmount
29100000 usd
CY2023Q4 slgg Reporting Unit Carrying Amount
ReportingUnitCarryingAmount
10000000 usd
CY2022Q1 us-gaap Goodwill
Goodwill
50263000 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
50263000 usd
CY2022Q3 us-gaap Goodwill
Goodwill
50263000000000 usd
CY2022Q3 slgg Percentage Of Change In Share Price
PercentageOfChangeInSharePrice
0.34 pure
CY2022Q3 us-gaap Share Price
SharePrice
13.6
CY2022Q3 slgg Reporting Unit Percentage Of Carrying Amount In Excess Of Fair Value
ReportingUnitPercentageOfCarryingAmountInExcessOfFairValue
0.38 pure
CY2022Q3 slgg Reporting Unit Percentage Of Carrying Amount In Excess Of Fair Value
ReportingUnitPercentageOfCarryingAmountInExcessOfFairValue
0.38 pure
CY2022Q3 slgg Reporting Unit Fair Value Amount
ReportingUnitFairValueAmount
25200000 usd
CY2022Q3 slgg Reporting Unit Carrying Amount
ReportingUnitCarryingAmount
67300000 usd
CY2022Q3 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
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CY2022Q4 slgg Percentage Of Change In Share Price
PercentageOfChangeInSharePrice
0.50 pure
CY2022Q4 us-gaap Share Price
SharePrice
6.72
CY2022Q4 slgg Reporting Unit Percentage Of Carrying Amount In Excess Of Fair Value
ReportingUnitPercentageOfCarryingAmountInExcessOfFairValue
0.46 pure
CY2022Q4 slgg Reporting Unit Fair Value Amount
ReportingUnitFairValueAmount
12600000 usd
CY2022Q4 slgg Reporting Unit Carrying Amount
ReportingUnitCarryingAmount
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CY2023 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
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CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
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CY2023 slgg Debt Financing Costs Expensed As Incurred
DebtFinancingCostsExpensedAsIncurred
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CY2022 slgg Debt Financing Costs Expensed As Incurred
DebtFinancingCostsExpensedAsIncurred
123000 usd
CY2023 us-gaap Derivatives Embedded Derivatives
DerivativesEmbeddedDerivatives
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><i>Convertible Debt</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Company evaluates convertible notes outstanding to determine if those contracts or embedded components of those contracts qualify as derivatives under ASC 815, “Derivatives and Hedging,” (“ASC 815”). ASC 815 requires conversion, redemption options, call options and other features (hereinafter, “Embedded Instruments”) contained in the Company’s convertible debt instruments that meet certain criteria to be bifurcated and separately accounted for as an embedded derivative. In circumstances where the embedded conversion option in a convertible instrument is required to be bifurcated and there are also other embedded derivative instruments in the convertible instrument that are required to be bifurcated, the bifurcated derivative instruments are accounted for as a single, compound derivative instrument.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">In the event that the fair value option election is not made, as described below, the Company evaluates the balance sheet classification for convertible debt instruments issued to determine whether the instrument should be classified as debt or equity, and whether the Embedded Instruments should be accounted for separately from the host instrument. Embedded Instruments of a convertible debt instrument would be separated from the convertible instrument and classified as a derivative liability if the feature, were it a standalone instrument, meets the definition of an “embedded derivative.” Generally, characteristics that require derivative treatment include, among others, when the conversion feature is not indexed to the Company’s equity, or when it must be settled either in cash or by issuing stock that is readily convertible to cash. When a conversion feature meets the definition of an embedded derivative, it is required to be separated from the host instrument and classified as a derivative liability carried on the balance sheet at fair value, with any changes in its fair value recognized currently in the consolidated statements of operations.</p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family: Times New Roman; font-size: 10pt; font-variant: normal; margin: 0pt; text-align: justify;"><i>Fair Value Option</i> (“<i>FVO</i>”<i>) Election.</i> The Company accounted for certain convertible notes issued, as described at Note 6, under the fair value option election pursuant to ASC 825, “Financial Instruments,” (“ASC 825”) as discussed below. The convertible notes accounted for under the FVO election are each debt host financial instruments containing embedded features which would otherwise be required to be bifurcated from the debt-host and recognized as separate derivative liabilities subject to initial and subsequent periodic estimated fair value measurements under ASC 815. Notwithstanding, ASC 825 provides for the “fair value option” election, to the extent not otherwise prohibited by ASC 825, to be afforded to financial instruments, wherein bifurcation of an embedded derivative is not necessary, and the financial instrument is initially measured at its issue-date estimated fair value and then subsequently remeasured at estimated fair value on a recurring basis at each reporting period date. The estimated fair value adjustment, as required by ASC 825, is recognized as a component of other comprehensive income (“OCI”) with respect to the portion of the fair value adjustment attributed to a change in the instrument-specific credit risk, with the remaining amount of the fair value adjustment recognized as other income (expense) in the accompanying consolidated statement of operations. With respect to the note described at Note 6, as provided for by ASC 825, the estimated fair value adjustment is presented in a respective single line item within other income (expense) in the accompanying consolidated statements of operations, since the change in fair value of the convertible notes payable was not attributable to instrument specific credit risk. The estimated fair value adjustment is included in interest expense in the accompanying consolidated statement of operations.</p>
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><b><i>Concentration of Credit Risks</i></b></p> <p style="font-family:'Times New Roman';font-size:10pt;font-variant:normal;margin:0pt;"> </p> <p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">Financial instruments that potentially subject the Company to concentrations of credit risk are cash equivalents, investments and accounts receivable. The Company places its cash equivalents and investments primarily in highly rated money market funds. Cash equivalents are also invested in deposits with certain financial institutions and may, at times, exceed federally insured limits. Any loss incurred or a lack of access to such funds could have a significant adverse impact on the Company's financial condition, results of operations, and cash flows.</p>
CY2023 us-gaap Net Income Loss
NetIncomeLoss
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CY2022 us-gaap Net Income Loss
NetIncomeLoss
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CY2023 slgg Deemed Dividend On Preferred Stock
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CY2022 slgg Deemed Dividend On Preferred Stock
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CY2023 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2022 us-gaap Preferred Stock Dividends Income Statement Impact
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CY2023 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2022 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2023Q4 slgg Difference From Fair Value Of New Preferred Stock And Carrying Value Of Original Preferred Stock
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0 usd
CY2023Q4 us-gaap Property Plant And Equipment Gross
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3678000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
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3670000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3608000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
3523000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
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70000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
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147000 usd
CY2023 us-gaap Depreciation
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CY2022 us-gaap Depreciation
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106000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
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CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
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30594000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
15013000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
10528000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6636000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
20066000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5238000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5207000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
2725000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
2102000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
1113000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
446000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
237000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
13000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
6636000 usd
CY2023Q2 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
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722000 usd
CY2015Q4 us-gaap Preferred Stock Shares Authorized
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5000000
CY2015Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
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0.001
CY2018Q3 slgg Total Capital Shares Authorized
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CY2018Q3 us-gaap Preferred Stock Shares Authorized
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10000000
CY2018Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
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CY2023Q2 us-gaap Common Stock Shares Authorized
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100000000
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
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0.001
CY2023Q2 us-gaap Common Stock Shares Authorized
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100000000
CY2023Q2 us-gaap Common Stock Shares Authorized
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400000000
CY2022Q4 us-gaap Warrants And Rights Outstanding
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CY2023 us-gaap Fair Value Adjustment Of Warrants
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CY2023Q4 us-gaap Warrants And Rights Outstanding
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1571000 usd
CY2023Q4 us-gaap Preferred Stock Dividends Shares
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232981
CY2023Q4 us-gaap Dividends Stock
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374000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
124000
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
97.95
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
4000 usd
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
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