$TBLT
Toughbuilt Industries, Inc

2022 Q4 Form 10-Q Financial Statement

#000157587222001118 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $29.90M $30.25M $17.22M
YoY Change 21.18% 75.68% 3.34%
Cost Of Revenue $20.56M $22.33M $11.77M
YoY Change 5.78% 89.68% 29.21%
Gross Profit $9.343M $7.917M $5.445M
YoY Change 78.24% 45.41% -27.89%
Gross Profit Margin 31.25% 26.18% 31.63%
Selling, General & Admin $21.08M $14.68M $15.24M
YoY Change 20.27% -3.72% 137.43%
% of Gross Profit 225.67% 185.37% 279.96%
Research & Development $3.246M $2.782M $1.611M
YoY Change 35.74% 72.7% 103.88%
% of Gross Profit 34.75% 35.13% 29.58%
Depreciation & Amortization $1.059M $1.165M $552.5K
YoY Change 64.81% 110.82% 224.98%
% of Gross Profit 11.33% 14.71% 10.15%
Operating Expenses $24.33M $17.46M $16.85M
YoY Change 22.13% 3.59% 133.43%
Operating Profit -$14.99M -$9.541M -$11.41M
YoY Change 2.09% -16.37% -3557.22%
Interest Expense -$7.621M $18.52M $2.902M
YoY Change 2664.86% 538.0% -1482.07%
% of Operating Profit
Other Income/Expense, Net -$453.5K $17.55M -$588.2K
YoY Change -3083.08%
Pretax Income -$23.06M $8.006M -$9.095M
YoY Change 54.21% -188.03% -7678.93%
Income Tax
% Of Pretax Income
Net Earnings -$23.06M $8.006M -$9.095M
YoY Change 54.21% -188.03% -7678.93%
Net Earnings / Revenue -77.13% 26.47% -52.83%
Basic Earnings Per Share -$0.05 $11.18
Diluted Earnings Per Share -$1.74 -$0.03 -$11.17M
COMMON SHARES
Basic Shares Outstanding 12.33M 12.33M 813.7K
Diluted Shares Outstanding 19.72M 813.7K

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.564M $1.588M $31.19M
YoY Change -65.68% -94.91% 250.83%
Cash & Equivalents $2.564M $1.588M $31.19M
Short-Term Investments
Other Short-Term Assets $369.8K $2.862M $1.046M
YoY Change -52.96% 173.7% -0.43%
Inventory $40.37M $40.01M $31.32M
Prepaid Expenses $369.8K $2.862M
Receivables $16.81M $23.40M $17.04M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $60.11M $67.86M $80.59M
YoY Change -7.34% -15.8% 145.78%
LONG-TERM ASSETS
Property, Plant & Equipment $17.50M $18.68M $9.930M
YoY Change 31.17% 88.1% 322.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $1.891M $1.683M $460.7K
YoY Change 154.59% 265.38% 109.39%
Total Long-Term Assets $23.81M $25.04M $10.39M
YoY Change 69.03% 140.99% 302.74%
TOTAL ASSETS
Total Short-Term Assets $60.11M $67.86M $80.59M
Total Long-Term Assets $23.81M $25.04M $10.39M
Total Assets $83.92M $92.90M $90.98M
YoY Change 6.29% 2.11% 157.23%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.67M $29.10M $12.14M
YoY Change 105.47% 139.61% 120.38%
Accrued Expenses $3.011M $2.746M $1.442M
YoY Change 65.84% 90.48% 162.1%
Deferred Revenue
YoY Change
Short-Term Debt $973.6K $1.391M $0.00
YoY Change -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $50.73M $39.37M $18.15M
YoY Change 140.91% 116.95% 90.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.477M $3.724M
YoY Change
Total Long-Term Liabilities $3.477M $3.724M $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $50.73M $39.37M $18.15M
Total Long-Term Liabilities $3.477M $3.724M $0.00
Total Liabilities $54.21M $43.09M $18.15M
YoY Change 157.43% 137.47% 90.6%
SHAREHOLDERS EQUITY
Retained Earnings -$145.0M -$121.9M
YoY Change 47.53%
Common Stock $1.408K $1.232K
YoY Change 1537.21%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $29.71M $49.81M $72.84M
YoY Change
Total Liabilities & Shareholders Equity $83.92M $92.90M $90.98M
YoY Change 6.29% 2.11% 157.23%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$23.06M $8.006M -$9.095M
YoY Change 54.21% -188.03% -7678.93%
Depreciation, Depletion And Amortization $1.059M $1.165M $552.5K
YoY Change 64.81% 110.82% 224.98%
Cash From Operating Activities -$6.997M -$17.40M -$23.10M
YoY Change -65.83% -24.67% 104.78%
INVESTING ACTIVITIES
Capital Expenditures -$2.014M -$5.327M -$3.972M
YoY Change -37.86% 34.14% 327.05%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $2.014M -$5.327M -$3.972M
YoY Change -162.14% 34.14% 484.05%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $38.03M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.959M 22.17M 38.03M
YoY Change -41.7% 3017.51%
NET CHANGE
Cash From Operating Activities -6.997M -17.40M -23.10M
Cash From Investing Activities 2.014M -5.327M -3.972M
Cash From Financing Activities 5.959M 22.17M 38.03M
Net Change In Cash 975.8K -554.6K 10.96M
YoY Change -104.11% -105.06% -202.08%
FREE CASH FLOW
Cash From Operating Activities -$6.997M -$17.40M -$23.10M
Capital Expenditures -$2.014M -$5.327M -$3.972M
Free Cash Flow -$4.983M -$12.07M -$19.13M
YoY Change -71.09% -36.87% 84.81%

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IncreaseDecreaseInAccountsReceivable
5223695
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
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tblt Increase Decrease In Factor Receivables Net
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807648
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Other Current Assets
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Proceeds From Sale Of Property Plant And Equipment
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50000
us-gaap Proceeds From Sale Of Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Payments For Repurchase Of Warrants
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ProceedsFromShortTermDebt
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us-gaap Repayments Of Short Term Debt
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us-gaap Repayments Of Short Term Debt
RepaymentsOfShortTermDebt
0
tblt Repayment Of Factor Loan Payable
RepaymentOfFactorLoanPayable
tblt Repayment Of Factor Loan Payable
RepaymentOfFactorLoanPayable
590950
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
31474999
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-5883784
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2021Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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us-gaap Interest Paid Net
InterestPaidNet
0
us-gaap Interest Paid Net
InterestPaidNet
0
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
0
tblt Purchase Of Property And Equipment Included In Accounts Payable
PurchaseOfPropertyAndEquipmentIncludedInAccountsPayable
1392570
tblt Purchase Of Property And Equipment Included In Accounts Payable
PurchaseOfPropertyAndEquipmentIncludedInAccountsPayable
0
tblt Initial Fair Value Of Lease Liability
InitialFairValueOfLeaseLiability
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tblt Initial Fair Value Of Lease Liability
InitialFairValueOfLeaseLiability
0
tblt Initial Fair Value Of Warrantsand Preferred Investment Options
InitialFairValueOfWarrantsandPreferredInvestmentOptions
23488442
tblt Initial Fair Value Of Warrantsand Preferred Investment Options
InitialFairValueOfWarrantsandPreferredInvestmentOptions
7463005
tblt Derecognition Of Warrantand Preferred Investment Optionliability Upon Conversion
DerecognitionOfWarrantandPreferredInvestmentOptionliabilityUponConversion
9610346
tblt Derecognition Of Warrantand Preferred Investment Optionliability Upon Conversion
DerecognitionOfWarrantandPreferredInvestmentOptionliabilityUponConversion
0
CY2020Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
the Company effected a 1-for-10 reverse stock split (the “Reverse Split”) of its issued and outstanding common stock.
CY2022Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
the Company effected a 1-for-150 reverse stock split (the “2022 Reverse Split”) of its issued and outstanding common stock.
CY2022Q3 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-121900000
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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us-gaap Use Of Estimates
UseOfEstimates
<div style="font-family: &quot;Times New Roman&quot;, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, &quot;serif&quot;; font-size: 10pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Use of Estimates</div></div></div><div style="font-family: &quot;Times New Roman&quot;, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; text-indent: 0.5in; margin-right: 0px; background: none;"><div style="white-space: pre-wrap; color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, &quot;serif&quot;; font-size: 10pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="font-family: &quot;Times New Roman&quot;, &quot;serif&quot;; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; text-align: justify; margin-right: 0px; background: none;"><div style="color: rgb(0, 0, 0); font-family: &quot;Times New Roman&quot;, &quot;serif&quot;; font-size: 10pt; background: none; letter-spacing: 0px; top: 0px;;display:inline;">The preparation of condensed consolidated financial statements in conformity with 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 condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to the valuation of accounts and factored receivables, valuation of long-lived assets, accrued liabilities, notes payable and deferred income tax asset valuation allowances. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results experienced by the Company may differ materially and adversely from the Company’s estimates. To the extent there are material differences between the estimates and the actual results, future results of operations will be affected.</div></div>
CY2022Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2021Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0
CY2022Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2021Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0
CY2021Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0
CY2022Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2021Q3 us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0
CY2022Q3 us-gaap Advertising Expense
AdvertisingExpense
514615
CY2021Q3 us-gaap Advertising Expense
AdvertisingExpense
2618475
us-gaap Advertising Expense
AdvertisingExpense
2805812
us-gaap Advertising Expense
AdvertisingExpense
6844886
CY2021Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
11.18
CY2020 tblt Percentage Of Limitations On Net Operating Loss Carryforwards Was Removed According To Cares Act
PercentageOfLimitationsOnNetOperatingLossCarryforwardsWasRemovedAccordingToCaresAct
0.80
CY2019 tblt Percentage Of Limitations On Net Operating Loss Carryforwards Was Removed According To Cares Act
PercentageOfLimitationsOnNetOperatingLossCarryforwardsWasRemovedAccordingToCaresAct
0.80
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
539230
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9094707
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-23700760
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-22570791
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.05
CY2021Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
11.18
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
5.42
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
37.36
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
10872412
CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
813734
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4376175
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
604128
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.03
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
5.42
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
37.36
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19721339
CY2021Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
813734
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4376175
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
604128
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
8848827
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
283283
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2016Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1044828
CY2016Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1034588
CY2022Q3 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6071966
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2992692
CY2022Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
18678836
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
13341629
CY2022Q3 us-gaap Depreciation
Depreciation
1164689
CY2021Q3 us-gaap Depreciation
Depreciation
552464
us-gaap Depreciation
Depreciation
3103204
us-gaap Depreciation
Depreciation
1196562
CY2017Q1 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P5Y
CY2017Q1 us-gaap Security Deposit
SecurityDeposit
29297
CY2017Q1 tblt Direct Costs Estimated Percentage
DirectCostsEstimatedPercentage
0.2254
CY2017Q1 us-gaap Lease Cost
LeaseCost
6201
CY2017Q1 tblt Lease Expired During The Period
LeaseExpiredDuringThePeriod
2022-02
us-gaap Lessee Operating Lease Description
LesseeOperatingLeaseDescription
The lease commenced on December 1, 2019 with no rent due until April 1, 2020. From April 1, 2020 through March 31, 2025, base rent will be due on the first of each month in the amount of $25,200 escalating annually on December 1 of each year to $29,480 beginning December 1, 2023. The Company paid an initial amount of $68,128 comprising the rent for April 2020
CY2022Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4678336
CY2022Q3 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
952989
CY2022Q3 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
3723851
CY2022Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
4676840
CY2022Q3 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y1M28D
CY2022Q3 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.04
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
322055
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
960276
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
1311858
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
1140177
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
1082177
CY2021Q4 tblt Lessee Operating Lease Liability Payments Due After Year Four
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFour
359916
CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
5176459
CY2021Q4 tblt Lessee Operating Lease Liability Imputed Interest
LesseeOperatingLeaseLiabilityImputedInterest
499619
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4676840
us-gaap Payments For Rent
PaymentsForRent
691107
us-gaap Payments For Rent
PaymentsForRent
650605
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
233200
CY2021Q3 us-gaap Payments For Rent
PaymentsForRent
211672
CY2022Q2 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-150
CY2018Q2 us-gaap Loss Contingency Damages Sought Value
LossContingencyDamagesSoughtValue
235542
CY2018Q2 tblt Loss Contingency Notice Entry Date Served By Plaintiffs
LossContingencyNoticeEntryDateServedByPlaintiffs
2018-04-17
CY2018Q2 tblt Loss Contingency Notice Entry Date Received By Defendants
LossContingencyNoticeEntryDateReceivedByDefendants
2018-04-19
CY2018Q3 us-gaap Loss Contingency Damages Paid Value
LossContingencyDamagesPaidValue
252949
us-gaap Loss Contingency Damages Awarded Value
LossContingencyDamagesAwardedValue
160000
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2021Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
200000000
CY2022Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
4268
CY2021Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
4268
CY2022Q3 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q4 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2021Q3 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
306866
CY2021Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Each Warrant Or Right
ClassOfWarrantOrRightNumberOfSecuritiesCalledByEachWarrantOrRight
153433
CY2021Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
130.35
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
121.5
CY2021Q3 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
36259050
CY2021Q3 tblt Percentage Of Cashfee Equal To Gross Proceeds
PercentageOfCashfeeEqualToGrossProceeds
0.07
CY2021Q3 tblt Percentage Of Management Fee Equal To Gross Proceeds
PercentageOfManagementFeeEqualToGrossProceeds
0.005
CY2021Q3 us-gaap Professional Fees
ProfessionalFees
25000
CY2021Q3 us-gaap Legal Fees
LegalFees
50000
CY2021Q3 tblt Clearing Fees
ClearingFees
15950
CY2021Q3 tblt Description For Market Capitalization
DescriptionForMarketCapitalization
common stock (which represents 6.0% of the shares sold to investors in the offering) at an exercise price equal to 125% of the offering price in the offering, or $162.94 (the “Placement Agent Warrants”). The Placement Agent Warrants are immediately exercisable until the fifth anniversary of the commencement of sales of the offering.
CY2021Q3 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
162.94
CY2022Q1 us-gaap Stock And Warrants Issued During Period Value Preferred Stock And Warrants
StockAndWarrantsIssuedDuringPeriodValuePreferredStockAndWarrants
5000000
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1000
CY2022Q1 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
1000
CY2022Q1 tblt Percentage Of Cashfee Equal To Gross Proceeds
PercentageOfCashfeeEqualToGrossProceeds
0.07
CY2022Q1 tblt Percentage Of Management Fee Equal To Gross Proceeds
PercentageOfManagementFeeEqualToGrossProceeds
0.005
CY2022Q1 us-gaap Proceeds From Issuance Or Sale Of Equity
ProceedsFromIssuanceOrSaleOfEquity
4205000
CY2022Q1 us-gaap Adjustments To Additional Paid In Capital Stock Issued Issuance Costs
AdjustmentsToAdditionalPaidInCapitalStockIssuedIssuanceCosts
795000
CY2022Q1 tblt Initial Fair Value Of Warrants
InitialFairValueOfWarrants
2646135
tblt Warrant Issuance Cost
WarrantIssuanceCost
275130
CY2021Q4 tblt Number Of Warrants Issued
NumberOfWarrantsIssued
133
CY2022Q3 tblt Number Of Warrants Issued
NumberOfWarrantsIssued
133
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
121.5
CY2022Q2 us-gaap Payments For Repurchase Of Warrants
PaymentsForRepurchaseOfWarrants
2500000
CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
37.65
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1.9
CY2020 tblt Capitalized Contracts Costs Incurred
CapitalizedContractsCostsIncurred
853412
CY2021 tblt Revenue Recognition Reserve For Sales Returns And Allowances
RevenueRecognitionReserveForSalesReturnsAndAllowances
13000
CY2022Q3 tblt Revenue Recognition Reserve For Sales Returns And Allowances
RevenueRecognitionReserveForSalesReturnsAndAllowances
13000
CY2022Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
1100000
CY2021Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
7200000

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