$TIVC
Tivic Health Systems, Inc.

2023 Q4 Form 10-Q Financial Statement

#000095017023063771 Filed on November 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $282.0K
YoY Change -40.88%
Cost Of Revenue $174.0K
YoY Change -57.97%
Gross Profit $108.0K
YoY Change 71.43%
Gross Profit Margin 38.3%
Selling, General & Admin $1.531M
YoY Change -31.9%
% of Gross Profit 1417.59%
Research & Development $337.0K
YoY Change -15.54%
% of Gross Profit 312.04%
Depreciation & Amortization -$4.000K
YoY Change -233.33%
% of Gross Profit -3.7%
Operating Expenses $1.868M
YoY Change -29.43%
Operating Profit -$1.760M
YoY Change -31.89%
Interest Expense $0.00
YoY Change -100.0%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income -$1.760M
YoY Change -31.89%
Income Tax
% Of Pretax Income
Net Earnings -$1.760M
YoY Change -32.31%
Net Earnings / Revenue -624.11%
Basic Earnings Per Share -$1.48
Diluted Earnings Per Share -$1.48
COMMON SHARES
Basic Shares Outstanding 1.466M 146.6M
Diluted Shares Outstanding 1.190M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $5.169M
YoY Change -18.32%
Cash & Equivalents $3.400M $5.200M
Short-Term Investments
Other Short-Term Assets $227.0K
YoY Change -44.63%
Inventory $756.0K $928.0K
Prepaid Expenses
Receivables $174.0K $131.0K
Other Receivables $0.00
Total Short-Term Assets $4.652M $6.455M
YoY Change -12.01% -15.0%
LONG-TERM ASSETS
Property, Plant & Equipment $122.0K $124.0K
YoY Change 916.67% 726.67%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $34.00K $34.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $505.0K $552.0K
YoY Change -11.25% -10.1%
TOTAL ASSETS
Total Short-Term Assets $4.652M $6.455M
Total Long-Term Assets $505.0K $552.0K
Total Assets $5.157M $7.007M
YoY Change -11.94% -14.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $713.0K $638.0K
YoY Change -46.11% -60.17%
Accrued Expenses $362.0K
YoY Change -14.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.401M $1.000M
YoY Change -24.64% -50.57%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $242.0K
YoY Change -41.4%
Total Long-Term Liabilities $242.0K
YoY Change -41.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $1.401M $1.000M
Total Long-Term Liabilities $242.0K
Total Liabilities $1.577M $1.242M
YoY Change -29.16% -49.01%
SHAREHOLDERS EQUITY
Retained Earnings -$37.90M -$35.60M
YoY Change 28.04% 29.93%
Common Stock $0.00 $0.00
YoY Change -100.0% -100.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.580M $5.765M
YoY Change
Total Liabilities & Shareholders Equity $5.157M $7.007M
YoY Change -11.94% -14.63%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income -$1.760M
YoY Change -32.31%
Depreciation, Depletion And Amortization -$4.000K
YoY Change -233.33%
Cash From Operating Activities -$1.867M
YoY Change -32.65%
INVESTING ACTIVITIES
Capital Expenditures -$2.000K
YoY Change -60.0%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities $2.000K
YoY Change -140.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 4.377M
YoY Change 7716.07%
NET CHANGE
Cash From Operating Activities -1.867M
Cash From Investing Activities 2.000K
Cash From Financing Activities 4.377M
Net Change In Cash 2.512M
YoY Change -192.32%
FREE CASH FLOW
Cash From Operating Activities -$1.867M
Capital Expenditures -$2.000K
Free Cash Flow -$1.865M
YoY Change -32.6%

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us-gaap Use Of Estimates
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<p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Use of Estimates</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of expenses during the reporting period. Actual results could differ materially from those estimates. The Company evaluates its estimates and assumptions on an ongoing basis using historical experience and other factors and adjusts those estimates and assumptions when facts and circumstances dictate.</span></p>
CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5200000
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3500000
CY2023Q3 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2022Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023Q3 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
19000
CY2022Q4 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
19000
CY2023Q3 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0
CY2022Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
0
CY2022Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
3074000
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
3074000
CY2023Q3 us-gaap Deferred Revenue
DeferredRevenue
3000
CY2022Q4 us-gaap Deferred Revenue
DeferredRevenue
2000
CY2023Q3 tivc Sales Return Reserve
SalesReturnReserve
-37000
CY2022Q3 tivc Sales Return Reserve
SalesReturnReserve
-55000
tivc Sales Return Reserve
SalesReturnReserve
-83000
tivc Sales Return Reserve
SalesReturnReserve
-174000
CY2023Q3 us-gaap Revenues
Revenues
282000
CY2022Q3 us-gaap Revenues
Revenues
477000
us-gaap Revenues
Revenues
819000
us-gaap Revenues
Revenues
1432000
tivc Product Warranty Limited Period
ProductWarrantyLimitedPeriod
P1Y
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
3074000
CY2022Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
3074000
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
4700000
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
3100000
CY2023Q3 tivc Fair Value Assets Level1 To Level2 Transfers Amount1
FairValueAssetsLevel1ToLevel2TransfersAmount1
0
CY2022Q4 tivc Fair Value Assets Level1 To Level2 Transfers Amount1
FairValueAssetsLevel1ToLevel2TransfersAmount1
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:left;"><span style="color:#000000;white-space:pre-wrap;font-weight:bold;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Concentration of Credit Risk and Other Risks and Uncertainties</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">Financial instruments that potentially subject the Company to significant concentrations of credit risk consist of cash and cash equivalents and accounts receivable. Cash and cash equivalents include a checking account and money market account, both held at one national financial institution in the United States. At times, such deposits may be in excess of insured limits. Despite recent concerns regarding the stability of certain banking institutions in the United States, management believes that the financial institution at which the Company holds its deposits is financially sound, and accordingly, minimal credit risk exists with respect to the financial institution. The Company has not experienced any losses on its deposits of cash and cash equivalents. As of September 30, 2023 and December 31, 2022, the Company had cash and cash equivalents balances exceeding FDIC insured limits by $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">4.7</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million and $</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">3.0</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million, respectively.</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">During 2023, the majority, or </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">75</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%, of the Company’s sales have been to individual consumers. As of September 30, 2023, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> reseller customers whose accounts receivable balance totaled more than 10% or more of the Company’s total accounts receivable (</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">75</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">12</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%) compared with </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">two</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> such customers at December 31, 2022 (</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">43</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% and </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">18</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%).</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the three months ended September 30, 2023, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer who individually accounted for 10% or more of the Company’s total revenue (</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">40</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%), compared to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> such customer for the same period in 2022 (</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">22</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%).</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the nine months ended September 30, 2023, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer who individually accounted for 10% or more of the Company’s total revenue (</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">25</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%) compared to </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer for the nine months ended September 30, 2022 (</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">17</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%).</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">During 2023, we outsourced </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">100</span><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">% of our contract manufacturing to vendors with locations in California and Canada.</span></p><p style="text-indent:0;font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:12pt;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-weight:normal;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The world continues to be affected by the lingering effects of the COVID-19 pandemic, the ongoing conflict between Russia and Ukraine and more recent conflict in Israel, economic uncertainty in human capital management and certain other macroeconomic factors including climate change, recent uncertainty with respect to the banking systems in the United States, inflation, and rising interest rates. Additionally, events involving limited liquidity, defaults, non-performance or other adverse developments that affect financial institutions or the financial services industry generally, or concerns or rumors about any events of these kinds or other similar risks, have in the past and may in the future lead to market-wide liquidity problems. For example, in March 2023, Silicon Valley Bank and Signature Bank, and most recently on May 1, 2023, First Republic Bank, were closed and taken over by the FDIC, which created significant market disruption and uncertainty for those who bank with those institutions, and which raised significant concern regarding the stability of the banking system in the United States, and in particular with respect to regional banks. These factors, amongst other things, could result in further economic uncertainty and volatility in the capital markets in the near term, and could negatively affect our operations. We will continue to monitor material impacts on our business strategies and operating results.</span></p>
CY2023Q3 us-gaap Cash Uninsured Amount
CashUninsuredAmount
4700000
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
3000000
tivc Percentage Of Outsource Of Contract Manufacturing
PercentageOfOutsourceOfContractManufacturing
1
CY2023Q3 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
4743000
CY2023Q3 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
4743000
CY2023Q3 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
4743000
CY2023Q3 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
4743000
CY2023Q3 tivc Fair Value Assets Level2 To Level1 Transfers Amount1
FairValueAssetsLevel2ToLevel1TransfersAmount1
0
CY2022Q4 tivc Fair Value Assets Level2 To Level1 Transfers Amount1
FairValueAssetsLevel2ToLevel1TransfersAmount1
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2023Q3 us-gaap Inventory Raw Materials
InventoryRawMaterials
819000
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
724000
CY2023Q3 us-gaap Inventory Work In Process
InventoryWorkInProcess
39000
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
23000
CY2023Q3 us-gaap Inventory Finished Goods
InventoryFinishedGoods
70000
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
116000
CY2023Q3 us-gaap Inventory Gross
InventoryGross
928000
CY2022Q4 us-gaap Inventory Gross
InventoryGross
863000
CY2023Q3 us-gaap Inventory Net
InventoryNet
928000
CY2022Q4 us-gaap Inventory Net
InventoryNet
863000
CY2021Q4 us-gaap Area Of Land
AreaOfLand
9091
us-gaap Lessee Operating Lease Option To Extend
LesseeOperatingLeaseOptionToExtend
The lease will expire in October 2025 and there is no option to renew for an additional term.
tivc Lessee Operating Leases Expiration Month And Year
LesseeOperatingLeasesExpirationMonthAndYear
2025-10
us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
false
CY2023Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
50000
us-gaap Operating Lease Cost
OperatingLeaseCost
151000
CY2022Q3 us-gaap Operating Lease Cost
OperatingLeaseCost
51000
us-gaap Operating Lease Cost
OperatingLeaseCost
151000
CY2023Q3 us-gaap Stock Issued During Period Shares Reverse Stock Splits
StockIssuedDuringPeriodSharesReverseStockSplits
1
CY2023Q3 tivc Stock Issued During Period Shares Fractional Shares
StockIssuedDuringPeriodSharesFractionalShares
0
CY2023Q3 tivc Cash Paid
CashPaid
0
CY2023Q3 tivc Other Consideration Paid
OtherConsiderationPaid
0
CY2023Q3 tivc Number Of Shares Included In Conversion Of Securities
NumberOfSharesIncludedInConversionOfSecurities
100
CY2023Q3 us-gaap Lessee Operating Lease Remaining Lease Term
LesseeOperatingLeaseRemainingLeaseTerm
P2Y
CY2023Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.06
CY2023Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
51000
CY2022Q3 us-gaap Operating Lease Payments
OperatingLeasePayments
50000
us-gaap Operating Lease Payments
OperatingLeasePayments
154000
us-gaap Operating Lease Payments
OperatingLeasePayments
138000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
52000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
210000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
178000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
440000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
25000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
415000
CY2023Q3 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2023Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2022Q2 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
938
CY2023Q3 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-100
CY2023Q3 tivc Number Of Shares Included In Conversion Of Securities
NumberOfSharesIncludedInConversionOfSecurities
100
CY2023Q3 tivc Number Of Shares Included In Conversion Of Securities
NumberOfSharesIncludedInConversionOfSecurities
100
us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2023Q3 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
59497
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
2727
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
15202
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12698
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
6649
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
4564
CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
81348
CY2022Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
19989
CY2023Q1 tivc Warrants Or Rights Fair Value Assumptions Method Used
WarrantsOrRightsFairValueAssumptionsMethodUsed
Black-Scholes options valuation model
CY2023Q1 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
195000
CY2023Q3 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
168000
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2021 tivc Percentage Of Number Of Shares Added Each Year
PercentageOfNumberOfSharesAddedEachYear
0.05
CY2022Q4 tivc Percentage Of Number Of Shares Added Each Year
PercentageOfNumberOfSharesAddedEachYear
0.05
CY2023Q3 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-100
CY2023Q3 tivc Number Of Shares Included In Conversion Of Securities
NumberOfSharesIncludedInConversionOfSecurities
100
CY2023Q3 tivc Number Of Shares Included In Conversion Of Securities
NumberOfSharesIncludedInConversionOfSecurities
100
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
6649
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
12698
CY2022Q4 tivc Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price On Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePriceOnOutstanding
3581
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
5750
tivc Share Based Compensation Arrangement By Share Based Payment Award Options Vested Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedExercisableNumber
3284
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
3246
tivc Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableForfeituresInPeriod
670
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
15202
CY2023Q3 tivc Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price On Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePriceOnOutstanding
6195
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
145.07
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
194.07
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y5M12D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y25D
CY2023Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
48000
CY2022Q3 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
112000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
213000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
173000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
74699
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
15578

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