2023 Q4 Form 10-Q Financial Statement

#000149315223040376 Filed on November 13, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $117.0K $95.00K $48.00M
YoY Change 290.0% -99.8% 119900.0%
Cost Of Revenue $93.00K $56.00K $27.00M
YoY Change 132.5% -99.79% 53900.0%
Gross Profit $24.00K $39.00K $21.00M
YoY Change -340.0% -99.81% -210100.0%
Gross Profit Margin 20.51% 41.05% 43.75%
Selling, General & Admin $1.722M $1.195M $517.0M
YoY Change 291.36% -99.77% 1292400.0%
% of Gross Profit 7175.0% 3064.1% 2461.9%
Research & Development $200.0K $15.00K $33.00M
YoY Change 566.67% -99.95% 109900.0%
% of Gross Profit 833.33% 38.46% 157.14%
Depreciation & Amortization $17.00K $10.00K $3.000M
YoY Change -99.67%
% of Gross Profit 70.83% 25.64% 14.29%
Operating Expenses $1.939M $1.210M $553.0M
YoY Change 303.96% -99.78% 789900.0%
Operating Profit -$1.915M -$1.171M -$532.0M
YoY Change 290.82% -99.78% 664900.0%
Interest Expense $76.00K $26.00K -$16.00M
YoY Change -290.0% -100.16%
% of Operating Profit
Other Income/Expense, Net -$26.00K -$16.00K
YoY Change 62.5%
Pretax Income -$1.839M -$1.200M -$548.0M
YoY Change 253.65% -99.78% 684900.0%
Income Tax
% Of Pretax Income
Net Earnings -$1.839M -$1.197M -$548.0M
YoY Change 253.65% -99.78% 684900.0%
Net Earnings / Revenue -1571.79% -1260.0% -1141.67%
Basic Earnings Per Share -$0.09 -$0.05
Diluted Earnings Per Share -$0.13 -$0.09 -$28.00
COMMON SHARES
Basic Shares Outstanding 14.60M shares 14.60M shares 10.78M shares
Diluted Shares Outstanding 12.67M shares 10.78M shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.338M $6.770M $57.00M
YoY Change 3458.67% -88.12%
Cash & Equivalents $5.338M $6.768M $145.0K
Short-Term Investments
Other Short-Term Assets $196.0K $770.0K $133.0M
YoY Change 390.0% -99.42%
Inventory $248.0K $165.0K $80.00M
Prepaid Expenses $766.0K
Receivables $53.00K $18.00K $8.000M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.835M $7.717M $278.0M
YoY Change 1662.84% -97.22%
LONG-TERM ASSETS
Property, Plant & Equipment $379.0K $208.0K $153.0M
YoY Change 210.66% -99.86%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $115.0K $10.00K $235.0M
YoY Change -52.08% -100.0%
Total Long-Term Assets $559.0K $255.0K $388.0M
YoY Change 47.49% -99.93%
TOTAL ASSETS
Total Short-Term Assets $5.835M $7.717M $278.0M
Total Long-Term Assets $559.0K $255.0K $388.0M
Total Assets $6.394M $7.972M $666.0M
YoY Change 800.56% -98.8%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $401.0K $380.0K $70.00M
YoY Change 301.0% -99.46%
Accrued Expenses $31.00K $30.00K $904.0M
YoY Change -97.21% -100.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $629.0M
YoY Change -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $475.0K $410.0K $1.634B
YoY Change -78.07% -99.97%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $129.0K $10.00K $10.00M
YoY Change 1190.0% -99.9%
Total Long-Term Liabilities $129.0K $10.00K $10.00M
YoY Change 1190.0% -99.9%
TOTAL LIABILITIES
Total Short-Term Liabilities $475.0K $410.0K $1.634B
Total Long-Term Liabilities $129.0K $10.00K $10.00M
Total Liabilities $604.0K $419.0K $1.644B
YoY Change -72.19% -99.97%
SHAREHOLDERS EQUITY
Retained Earnings -$10.32M -$8.478M
YoY Change 81.25%
Common Stock $146.0K $146.0K
YoY Change 35.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $5.790M $7.553M -$978.0M
YoY Change
Total Liabilities & Shareholders Equity $6.394M $7.972M $666.0M
YoY Change 800.56% -98.8%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$1.839M -$1.197M -$548.0M
YoY Change 253.65% -99.78% 684900.0%
Depreciation, Depletion And Amortization $17.00K $10.00K $3.000M
YoY Change -99.67%
Cash From Operating Activities -$1.242M -$3.500M -$300.0M
YoY Change 491.43% -98.83% 1499900.0%
INVESTING ACTIVITIES
Capital Expenditures $188.0K $100.0K $40.00M
YoY Change -99.75%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$188.0K -$100.0K -$40.00M
YoY Change -99.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.000K 10.35M 85.00M
YoY Change -98.75% -87.82% 56566.67%
NET CHANGE
Cash From Operating Activities -1.242M -3.500M -300.0M
Cash From Investing Activities -188.0K -100.0K -40.00M
Cash From Financing Activities 3.000K 10.35M 85.00M
Net Change In Cash -1.430M 6.750M -255.0M
YoY Change -4866.67% -102.65% -196253.85%
FREE CASH FLOW
Cash From Operating Activities -$1.242M -$3.500M -$300.0M
Capital Expenditures $188.0K $100.0K $40.00M
Free Cash Flow -$1.430M -$3.600M -$340.0M
YoY Change 580.95% -98.94%

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CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
7553000 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-894000 usd
CY2022Q3 SPGC Stock Issued During Period Value Vesting Of Options
StockIssuedDuringPeriodValueVestingOfOptions
44000 usd
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
-548000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-1398000 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
-1437000 usd
SPGC Stock Issued During Period Value Vesting Of Options
StockIssuedDuringPeriodValueVestingOfOptions
1344000 usd
us-gaap Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures
StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures
25000 usd
SPGC Stock Issued During Period Value Modification Of Equity Awards
StockIssuedDuringPeriodValueModificationOfEquityAwards
28000 usd
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1624000 usd
us-gaap Net Income Loss
NetIncomeLoss
-2982000 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-1398000 usd
us-gaap Net Income Loss
NetIncomeLoss
-2786000 usd
us-gaap Net Income Loss
NetIncomeLoss
-2982000 usd
us-gaap Depreciation
Depreciation
15000 usd
us-gaap Depreciation
Depreciation
6000 usd
SPGC Gain Loss On Inventory Obsolescence
GainLossOnInventoryObsolescence
-46000 usd
SPGC Gain Loss On Inventory Obsolescence
GainLossOnInventoryObsolescence
25000 usd
SPGC Vesting Of Options
VestingOfOptions
367000 usd
SPGC Vesting Of Options
VestingOfOptions
1344000 usd
SPGC Vesting Of Restricted Stock
VestingOfRestrictedStock
25000 usd
SPGC Modification Of Equity Awards
ModificationOfEquityAwards
28000 usd
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-574000 usd
us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
225000 usd
SPGC Changes In Right Of Use Asset
ChangesInRightOfUseAsset
23000 usd
SPGC Changes In Right Of Use Asset
ChangesInRightOfUseAsset
8000 usd
SPGC Gain Loss On Accrued Interest
GainLossOnAccruedInterest
-21000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
16000 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-3000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
69000 usd
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
11000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
750000 usd
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
25000 usd
us-gaap Increase Decrease In Deposit Other Assets
IncreaseDecreaseInDepositOtherAssets
1000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
278000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
64000 usd
SPGC Increase Decreasein Accrued Payroll
IncreaseDecreaseinAccruedPayroll
-1095000 usd
SPGC Increase Decreasein Accrued Payroll
IncreaseDecreaseinAccruedPayroll
408000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-24000 usd
us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-8000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-19000 usd
us-gaap Increase Decrease In Deferred Revenue
IncreaseDecreaseInDeferredRevenue
-3000 usd
SPGC Increase Decrease In Licenseobligation
IncreaseDecreaseInLicenseobligation
1000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3805000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-575000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
101000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
75000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-101000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-75000 usd
SPGC Payments Of Equipment Purchase Obligation
PaymentsOfEquipmentPurchaseObligation
15000 usd
SPGC Payments Of Equipment Purchase Obligation
PaymentsOfEquipmentPurchaseObligation
29000 usd
SPGC Repayment Of Deferred Offering Costs
RepaymentOfDeferredOfferingCosts
-230000 usd
SPGC Repayment Of Deferred Offering Costs
RepaymentOfDeferredOfferingCosts
230000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
180000 usd
us-gaap Proceeds From Issuance Of Private Placement
ProceedsFromIssuanceOfPrivatePlacement
420000 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
11029000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
61000 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
100000 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
445000 usd
SPGC Proceeds From Loans Payable Related Party
ProceedsFromLoansPayableRelatedParty
20000 usd
SPGC Proceeds From Loans Payable Related Party
ProceedsFromLoansPayableRelatedParty
200000 usd
SPGC Repayment Of Loans Payable Related Party
RepaymentOfLoansPayableRelatedParty
557000 usd
us-gaap Proceeds From Convertible Debt
ProceedsFromConvertibleDebt
150000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
10503000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
611000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6597000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-39000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
171000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
184000 usd
CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
6768000 usd
CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
145000 usd
us-gaap Stock Issued1
StockIssued1
1050000 usd
SPGC New Right Of Use Asset And Lease Liability
NewRightOfUseAssetAndLeaseLiability
43000 usd
SPGC New Right Of Use Asset And Lease Liability
NewRightOfUseAssetAndLeaseLiability
34000 usd
SPGC Property And Equipment Purchased With Debt
PropertyAndEquipmentPurchasedWithDebt
58000 usd
SPGC Reclass Of Common Stock Subject To Redemption To Equity
ReclassOfCommonStockSubjectToRedemptionToEquity
420000 usd
us-gaap Nature Of Operations
NatureOfOperations
<p id="xdx_807_eus-gaap--NatureOfOperations_zjSqNDkUdFd2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 1 – <span id="xdx_822_zNqHw4PllQu">OPERATIONS AND LIQUIDITY</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sacks Parente Golf, Inc. (“we,” the “Company” or “SPG”) was formed in 2018 as Sacks Parente Golf Company, LLC, a Delaware limited liability company. On March 18, 2022 the Company converted into a Delaware corporation named Sacks Parente Golf, Inc. Pursuant to our Plan of Conversion, on March 18, 2022, all of the outstanding ownership interests in Sacks Parente Golf Company, LLC, and rights to receive such interest were converted into and exchanged for shares of capital stock of Sacks Parente Golf, Inc. The Company retroactively reflected the conversion as of the earliest periods presented herein.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Sacks Parente Golf, Inc. is a technology-forward golf company, with a growing portfolio of golf products, including putting instruments, golf shafts, golf grips, and other golf-related products. In consideration of its growth opportunities in shaft technologies, in April of 2022, the Company expanded its manufacturing business to include advanced premium golf shafts by opening a new shaft manufacturing facility in St. Joseph, MO. It is the Company’s intent to manufacture and assemble substantially all products in the United States. The Company anticipates expansion into golf apparel and other golf related product lines to enhance its growth. The Company’s future expansions may include broadening its offerings through mergers, acquisitions or internal developments of product lines that are complementary to its premium brand.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company currently sells its products through resellers, the Company’s websites, and distributors in the United States, Japan, and South Korea.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain information and footnote disclosures normally included in financial statements that have been prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission regarding interim financial reporting. We believe that the disclosures contained in these condensed financial statements are adequate to make the information presented herein not misleading. For further information, refer to the financial statements and the notes thereto included elsewhere in this report.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The results of operations for the three and nine months ended September 30, 2023 are not necessarily indicative of the results of operations to be expected for the full fiscal year ending December 31, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Going Concern and Liquidity</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying condensed financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the year ended December 31, 2022, the Company incurred a net loss of $<span id="xdx_904_eus-gaap--NetIncomeLoss_iN_di_c20220101__20221231_zdkDVjdH4irj" title="Net Income (Loss)">3,505,000</span> and used cash in operations of $<span id="xdx_901_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_di_c20220101__20221231_z4V52P9k36Q1" title="Net Cash Provided by (Used in) Operating Activities">785,000</span> and had a shareholders’ deficit of $<span id="xdx_90B_eus-gaap--StockholdersEquity_iNI_di_c20221231_zNKkYk1JkMma" title="Shareholders deficit">1,882,000</span> as of December 31, 2022. As reflected in the accompanying condensed financial statements, during the nine months ended September 30, 2023, the Company incurred a net loss of $<span id="xdx_90E_eus-gaap--NetIncomeLoss_iN_di_c20230101__20230930_zLSr3bXGNhb7" title="Net Income (Loss)">2,786,000</span> and used cash in operations of $<span id="xdx_904_eus-gaap--NetCashProvidedByUsedInOperatingActivities_iN_di_c20230101__20230930_zmAAWpYjwN4j" title="Net Cash Provided by (Used in) Operating Activities">3,805,000</span>.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the nine months ended September 30, 2023, the Company closed its initial public offering (“IPO”) and received $<span id="xdx_902_eus-gaap--ProceedsFromIssuanceInitialPublicOffering_c20230101__20230930_zltuPVyqVl7a">11,029,000 </span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">of net proceeds after expenses. At September 30, 2023, the Company had cash and cash equivalents on hand in the amount of $<span id="xdx_907_eus-gaap--CashAndCashEquivalentsAtCarryingValue_iI_c20230930_zLMjYtCWFPH1">6,768,000</span></span>. Due to the funds received through our IPO, and the $<span id="xdx_90C_eus-gaap--Cash_iI_c20230930_zNRjypJlrCId">600,000</span> cash received that was reclassified to additional paid in capital (see Note 10), the Company had shareholders’ equity of $<span id="xdx_90A_eus-gaap--StockholdersEquity_iI_c20230930_zX0A81BK3Kqc">7,553,000 </span>at September 30, 2023. The Company now expects its cash on hand at September 30, 2023, will last for at least the next 12 months.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The ability to continue as a going concern is dependent on the Company attaining and maintaining profitable operations in the future and raising additional capital to meet its obligations and repay its liabilities arising from normal business operations when they come due. Since inception, the Company has funded its operations primarily through equity and debt financing, and it expects to continue to rely on these sources of capital in the future.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">No assurance can be given that any future financing will be available or, if available, that it will be on terms that are satisfactory to the Company. Even if the Company is able to obtain additional financing, it may contain undue restrictions on our operations, in the case of debt financing, or cause substantial dilution for our stockholders, in case of equity financing, or grant unfavorable terms in licensing future licensing agreements.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><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 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-3505000 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-785000 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-1882000 usd
us-gaap Net Income Loss
NetIncomeLoss
-2786000 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-3805000 usd
us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
11029000 usd
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6768000 usd
CY2023Q3 us-gaap Cash
Cash
600000 usd
CY2023Q3 us-gaap Stockholders Equity
StockholdersEquity
7553000 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84D_eus-gaap--UseOfEstimates_zkfJDQgAORpj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86B_znL9oqatBjv9">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosures of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Those estimates and assumptions include estimates for reserves of uncollectible accounts receivables, assumptions used in valuing inventories at net realizable value, impairment testing of recorded long-term and tangible and intangible assets, the valuation allowance for deferred tax assets, accruals for potential liabilities, and assumptions made in valuing stock instruments issued for services.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
95000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48000 usd
CY2023Q3 SPGC Change In Revenue Percentage
ChangeInRevenuePercentage
0.98 pure
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
232000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
157000 usd
SPGC Change In Revenue Percentage
ChangeInRevenuePercentage
0.48 pure
CY2023Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
95000 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
48000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
232000 usd
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
157000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2630835 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2782210 shares
us-gaap Advertising Expense
AdvertisingExpense
155000 usd
us-gaap Advertising Expense
AdvertisingExpense
219000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
58000 usd
us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
43000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_z97fneYeBPLa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_860_zIavEIyS2MXk">Concentrations of Risk</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Cash Balances.</i> The Company’s cash balances on deposit with banks are guaranteed by the Federal Deposit Insurance Corporation (FDIC) up to $<span id="xdx_906_eus-gaap--CashFDICInsuredAmount_iI_c20230930_zDHOuvHnbgB6" title="Cash deposits">250,000</span>. From time to time, however, the Company may be exposed to risk for the amounts of funds held in bank accounts in excess of the FDIC limit. To minimize the risk, the Company’s policy is to maintain cash balances with high quality financial institutions. All of the non-interest bearing cash balances were fully insured at September 30, 2023 and December 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Net sales.</i> During the three months ended September 30, 2023, one Company customer classified as a distributor, accounted for <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--MajorCustomersAxis__custom--DistributorsMember_z4Ynreb83zt7" title="Concentration risk, percentage">50</span>% of net sales. No other customers exceeded 10% of net sales. During the three months ended September 30, 2022, a Company customer classified as a distributor, accounted for <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220701__20220930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--MajorCustomersAxis__custom--DistributorsMember_zm3gKfoc0Ex6" title="Concentration risk, percentage">15</span>% of net sales, respectively. No other customers exceeded 10% of net sales.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the three months ended September 30, 2023, <span id="xdx_90A_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--StatementGeographicalAxis__country--KR_zyukHsBp2cs9" title="Concentration risk, percentage">50</span>% of the Company’s net sales were in South Korea, and approximately <span id="xdx_90B_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230701__20230930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--StatementGeographicalAxis__country--US_z4hjoeFRrVNd" title="Concentration risk, percentage">50</span>% of the Company’s net sales were in the United States. During the three months ended September 30, 2022, <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220701__20220930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--StatementGeographicalAxis__country--JP_zb0cVvHoXHz6" title="Concentration risk, percentage">35</span>% of the Company’s net sales were in Japan, and <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220701__20220930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--StatementGeographicalAxis__country--US_zRSfA2K3w3L2" title="Concentration risk, percentage">65</span>% of the Company’s net sales were in the United States.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the nine months ended September 30, 2023, two customers classified as a distributor accounted for <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--MajorCustomersAxis__custom--Customer1Member_z4tYyrxQF356" title="Concentration risk, percentage">39</span>% and <span id="xdx_902_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20230930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--MajorCustomersAxis__custom--Customer2Member_zbayTDL2Q8Ub" title="Concentration risk, percentage">10</span>% of net sales, respectively. No other customers exceeded 10% of net sales. During the nine months ended September 30, 2022, approximately <span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--StatementGeographicalAxis__country--US_zXmE9yNGFjI4" title="Concentration risk, percentage">61</span>% of the Company’s net sales were in the United States, and <span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--StatementGeographicalAxis__country--KR_zJIc2WXRvY2g" title="Concentration risk, percentage">39</span>% of the Company’s net sales were in South Korea.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During the nine months ended September 30, 2022, one customer classified as a distributor accounted for <span id="xdx_908_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--MajorCustomersAxis__custom--DistributorsMember_zMwRei4DI6sf" title="Concentration risk, percentage">14%</span> of net sales. No other customers exceeded 10% of net sales. During the nine months ended September 30, 2022, <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--StatementGeographicalAxis__srt--AmericasMember_zMECj6xyOuR1" title="Concentration risk, percentage">73</span>% of the Company’s net sales were in the United States, <span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--StatementGeographicalAxis__country--JP_zfz3OAfXyMrj" title="Concentration risk, percentage">22</span>% of the Company’s net sales were in Japan, and the remaining <span id="xdx_909_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220101__20220930__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__custom--NetSalesMember__srt--StatementGeographicalAxis__custom--OtherCountriesMember_z7dxGcT7z464" title="Concentration risk, percentage">5</span>% in other countries.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 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 0pt 0pt 0"><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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>
CY2023Q3 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
39000 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
42000 usd
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
126000 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
100000 usd
CY2023Q3 us-gaap Inventory Net
InventoryNet
165000 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
142000 usd
CY2023Q3 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
119000 usd
CY2022Q4 us-gaap Inventory Raw Materials And Supplies Net Of Reserves
InventoryRawMaterialsAndSuppliesNetOfReserves
73000 usd
CY2023Q3 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
234000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
133000 usd
CY2023Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
26000 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
11000 usd
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
208000 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
122000 usd
us-gaap Depreciation
Depreciation
15000 usd
us-gaap Depreciation
Depreciation
6000 usd
CY2023Q3 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2119446 shares
CY2022Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1095000 usd
CY2023Q3 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
1095000 usd
CY2022Q2 SPGC Equipment Purchase Obligation Current
EquipmentPurchaseObligationCurrent
58000 usd
CY2022Q2 SPGC Payments Of Equipment Purchase Obligation
PaymentsOfEquipmentPurchaseObligation
5000 usd
CY2022Q4 SPGC Equipment Purchase Obligation Current
EquipmentPurchaseObligationCurrent
15000 usd
SPGC Payments Of Equipment Purchase Obligation
PaymentsOfEquipmentPurchaseObligation
15000 usd
CY2022Q4 us-gaap Loans Payable Current
LoansPayableCurrent
537000 usd
CY2022Q4 us-gaap Notes Payable Current
NotesPayableCurrent
384000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
22000 usd
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
42000 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
23000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
42000 usd
CY2023Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
33000 usd
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
9000 usd
us-gaap Lease Cost
LeaseCost
69000 usd
us-gaap Lease Cost
LeaseCost
45000 usd
CY2023Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y3M
CY2023Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.1000 pure
CY2023Q3 us-gaap Temporary Equity Shares Outstanding
TemporaryEquitySharesOutstanding
561375 shares
CY2023Q3 us-gaap Cash
Cash
600000 usd
CY2022Q1 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
1050000 usd
CY2022Q1 us-gaap Debt Conversion Converted Instrument Shares Issued1
DebtConversionConvertedInstrumentSharesIssued1
1517865 shares
CY2022Q1 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
1624000 usd
CY2022Q1 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
574000 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2220835 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.00
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
430000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
1.07
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
20000 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.00
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
2630835 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
1.01
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
1.00
CY2023Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
2630835 shares
us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Remaining Contractual Term2
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageRemainingContractualTerm2
P3Y9M18D
CY2023Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Outstanding Options Weighted Average Exercise Price Beginning Balance1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeOutstandingOptionsWeightedAverageExercisePriceBeginningBalance1
1.01
CY2023Q3 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Exercisable Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfExercisableOptions
2119446 shares
CY2023Q3 us-gaap Sharebased Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Exercisable Options Weighted Average Exercise Price1
SharebasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeExercisableOptionsWeightedAverageExercisePrice1
1.00
SPGC Stock Issued During Period Value Vesting Of Options
StockIssuedDuringPeriodValueVestingOfOptions
367000 usd
SPGC Stock Issued During Period Value Vesting Of Options
StockIssuedDuringPeriodValueVestingOfOptions
1300000 usd
CY2023Q3 SPGC Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Number Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingNumberValue
576000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Outstanding Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestOutstandingAggregateIntrinsicValue
391000 usd
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Aggregate Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableAggregateIntrinsicValue
334000 usd
CY2023Q3 us-gaap Share Price
SharePrice
1.16
CY2023Q3 us-gaap Marketing Expense
MarketingExpense
2500000 usd
CY2023Q3 us-gaap Restricted Cash And Cash Equivalents At Carrying Value
RestrictedCashAndCashEquivalentsAtCarryingValue
500000 usd
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

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