$TIVC
Tivic Health Systems, Inc.

2024 Q3 Form 10-Q Financial Statement

#000095017024097056 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $126.0K $140.0K $161.0K
YoY Change -55.32% -13.04% -69.51%
Cost Of Revenue $82.00K $110.0K $100.0K
YoY Change -52.87% 10.0% -75.19%
Gross Profit $44.00K $30.00K $61.00K
YoY Change -59.26% -50.82% -51.2%
Gross Profit Margin 34.92% 21.43% 37.89%
Selling, General & Admin $1.053M $934.0K $1.718M
YoY Change -31.22% -45.63% -35.07%
% of Gross Profit 2393.18% 3113.33% 2816.39%
Research & Development $422.0K $302.0K $468.0K
YoY Change 25.22% -35.47% -5.84%
% of Gross Profit 959.09% 1006.67% 767.21%
Depreciation & Amortization $1.000K $1.000K $4.000K
YoY Change -125.0% -75.0% 100.0%
% of Gross Profit 2.27% 3.33% 6.56%
Operating Expenses $1.475M $1.236M $2.186M
YoY Change -21.04% -43.46% -30.45%
Operating Profit -$1.431M -$1.206M -$2.125M
YoY Change -18.69% -43.25% -29.59%
Interest Expense $0.00
YoY Change
% of Operating Profit
Other Income/Expense, Net $0.00 -$60.00K $0.00
YoY Change
Pretax Income -$2.125M
YoY Change -29.59%
Income Tax
% Of Pretax Income
Net Earnings -$1.431M -$1.266M -$2.125M
YoY Change -18.69% -40.42% -29.17%
Net Earnings / Revenue -1135.71% -904.29% -1319.88%
Basic Earnings Per Share -$0.23 -$0.32 -$0.07
Diluted Earnings Per Share -$0.23 -$0.32 -$0.07
COMMON SHARES
Basic Shares Outstanding 6.184M 6.184M 29.68M
Diluted Shares Outstanding 6.191M 4.010M 29.68M

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.659M
YoY Change -70.62%
Cash & Equivalents $2.200M $3.700M $2.700M
Short-Term Investments
Other Short-Term Assets $1.341M
YoY Change 236.93%
Inventory $731.0K $766.0K $988.0K
Prepaid Expenses
Receivables $9.000K $16.00K $13.00K
Other Receivables $0.00
Total Short-Term Assets $3.163M $4.663M $4.000M
YoY Change -51.0% 16.58% -61.43%
LONG-TERM ASSETS
Property, Plant & Equipment $119.0K $120.0K $124.0K
YoY Change -4.03% -3.23% 853.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $34.00K
YoY Change 0.0%
Total Long-Term Assets $231.0K $120.0K $596.0K
YoY Change -58.15% -79.87% -8.87%
TOTAL ASSETS
Total Short-Term Assets $3.163M $4.663M $4.000M
Total Long-Term Assets $231.0K $120.0K $596.0K
Total Assets $3.394M $4.783M $4.596M
YoY Change -51.56% 4.07% -58.32%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $333.0K $446.0K $831.0K
YoY Change -47.81% -46.33% -56.61%
Accrued Expenses $185.0K
YoY Change -60.04%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $560.0K $591.0K $1.160M
YoY Change -44.0% -49.05% -51.22%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $275.0K
YoY Change -40.35%
Total Long-Term Liabilities $275.0K
YoY Change -40.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $560.0K $591.0K $1.160M
Total Long-Term Liabilities $275.0K
Total Liabilities $560.0K $591.0K $1.435M
YoY Change -54.91% -58.82% -49.45%
SHAREHOLDERS EQUITY
Retained Earnings -$42.10M -$40.60M -$33.90M
YoY Change 18.26% 19.76% 36.69%
Common Stock $1.000K $1.000K $3.000K
YoY Change -66.67% 200.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.834M $4.192M $3.161M
YoY Change
Total Liabilities & Shareholders Equity $3.394M $4.783M $4.596M
YoY Change -51.56% 4.07% -58.32%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$1.431M -$1.266M -$2.125M
YoY Change -18.69% -40.42% -29.17%
Depreciation, Depletion And Amortization $1.000K $1.000K $4.000K
YoY Change -125.0% -75.0% 100.0%
Cash From Operating Activities -$2.440M
YoY Change 39.27%
INVESTING ACTIVITIES
Capital Expenditures $24.00K
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities -$24.00K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -44.00K
YoY Change
NET CHANGE
Cash From Operating Activities -2.440M
Cash From Investing Activities -24.00K
Cash From Financing Activities -44.00K
Net Change In Cash -2.508M
YoY Change 43.15%
FREE CASH FLOW
Cash From Operating Activities -$2.440M
Capital Expenditures $24.00K
Free Cash Flow -$2.464M
YoY Change 40.64%

Facts In Submission

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CY2023Q3 us-gaap Stock Issued During Period Shares Reverse Stock Splits
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1
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 Use Of Estimates
UseOfEstimates
<p style="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="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-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>
CY2024Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3700000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
3400000
CY2024Q2 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2023Q4 us-gaap Allowance For Doubtful Accounts Receivable
AllowanceForDoubtfulAccountsReceivable
0
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
40000
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
32000
us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0
CY2024Q2 us-gaap Deferred Revenue
DeferredRevenue
4000
CY2023Q4 us-gaap Deferred Revenue
DeferredRevenue
8000
CY2024Q2 tivc Sales Returns
SalesReturns
-18000
CY2023Q2 tivc Sales Returns
SalesReturns
-21000
tivc Sales Returns
SalesReturns
-47000
tivc Sales Returns
SalesReturns
-46000
CY2024Q2 us-gaap Revenues
Revenues
140000
CY2023Q2 us-gaap Revenues
Revenues
161000
us-gaap Revenues
Revenues
474000
us-gaap Revenues
Revenues
537000
tivc Product Warranty Limited Period
ProductWarrantyLimitedPeriod
P1Y
CY2024Q2 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
8000
CY2023Q4 us-gaap Contract With Customer Refund Liability
ContractWithCustomerRefundLiability
52000
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="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="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;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 a money market account held at one national financial institution in the United States. At times, such deposits may be in excess of insured limits. 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 each June 30, 2024 and December 31, 2023, the Company had cash and cash equivalents balances exceeding FDIC insured limits by </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">$</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">3.2</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">3.0</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> million, respectively.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The Company extends credit to customers in the normal course of business and performs credit evaluations of its customers. Concentrations of credit risk with respect to accounts receivable exist to the full extent of amounts presented in the financial statements.</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="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-size:10pt;font-family:Times New Roman;min-width:fit-content;">During the first half of 2024, the majority, or </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">81</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%, of the Company’</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">s sales have been to individual customers. In 2023, the majority, or </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">81</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%, of the Company’s sales were to individual consumers. As of </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">June 30, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;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 compared with one such customer at December 31, 2023 (</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">81</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%).</span></p><p style="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-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the three months ended June 30, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">23</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%). For the three months ended </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">June 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">no</span><span style="color:#000000;white-space:pre-wrap;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></p><p style="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-size:10pt;font-family:Times New Roman;min-width:fit-content;">For the six months ended June 30, 2024</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">, the Company had </span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">13</span><span style="color:#000000;white-space:pre-wrap;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;min-width:fit-content;">one</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> customer for the six months ended </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">June 30, 2023</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> (</span><span style="font-size:10pt;font-family:Times New Roman;color:#000000;white-space:pre-wrap;min-width:fit-content;">16</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">%).</span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">The lingering negative impacts of the COVID-19 pandemic, the ongoing conflicts between Russia and Ukraine as well as Israel and Hamas, certain other macroeconomic factors including inflation, and rising interest rates, have contributed to economic uncertainty. 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. Furthermore, it is possible that U.S. policy changes, including changes and uncertainty as a result of the upcoming U.S. presidential election, could increase market volatility in the coming months. </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">These </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">factors, amongst other things, could result in further economic uncertainty and volatility in the capital markets in the near</span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;"> </span></p><p style="font-size:10pt;margin-top:0;font-family:Times New Roman;margin-bottom:0;text-align:justify;"><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">term, </span><span style="color:#000000;white-space:pre-wrap;font-size:10pt;font-family:Times New Roman;min-width:fit-content;">and could negatively affect our operations. We will continue to monitor material impacts on our business strategies and operating results.</span></p>
CY2024Q2 us-gaap Cash Uninsured Amount
CashUninsuredAmount
3200000
CY2023Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
3000000
CY2024Q2 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
3238000
CY2024Q2 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
3238000
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
3238000
CY2024Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
3238000
CY2023Q4 us-gaap Money Market Funds At Carrying Value
MoneyMarketFundsAtCarryingValue
3243000
CY2023Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
3243000
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
3243000
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
3243000
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
3200000
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
3200000
CY2024Q2 tivc Fair Value Assets Level1 To Level2 Transfers Amount1
FairValueAssetsLevel1ToLevel2TransfersAmount1
0
CY2023Q4 tivc Fair Value Assets Level1 To Level2 Transfers Amount1
FairValueAssetsLevel1ToLevel2TransfersAmount1
0
CY2024Q2 tivc Fair Value Assets Level2 To Level1 Transfers Amount1
FairValueAssetsLevel2ToLevel1TransfersAmount1
0
CY2023Q4 tivc Fair Value Assets Level2 To Level1 Transfers Amount1
FairValueAssetsLevel2ToLevel1TransfersAmount1
0
CY2023 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0
CY2024Q2 us-gaap Inventory Raw Materials
InventoryRawMaterials
526000
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
752000
CY2024Q2 us-gaap Inventory Work In Process
InventoryWorkInProcess
5000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
0
CY2024Q2 us-gaap Inventory Finished Goods
InventoryFinishedGoods
275000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
36000
CY2024Q2 us-gaap Inventory Gross
InventoryGross
806000
CY2023Q4 us-gaap Inventory Gross
InventoryGross
788000
CY2024Q2 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
40000
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
32000
CY2024Q2 us-gaap Inventory Net
InventoryNet
766000
CY2023Q4 us-gaap Inventory Net
InventoryNet
756000
CY2024Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
159000
CY2023Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
159000
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
39000
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
37000
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
120000
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
122000
CY2024Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1000
CY2023Q2 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
3000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
2000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
6000
CY2024Q2 us-gaap Area Of Land
AreaOfLand
9091
tivc Lessee Operating Leases Expiration Month And Year
LesseeOperatingLeasesExpirationMonthAndYear
2025-10
us-gaap Line Of Credit Facility Interest Rate During Period
LineOfCreditFacilityInterestRateDuringPeriod
0.06
CY2024Q2 tivc Operating Lease Termination Fee
OperatingLeaseTerminationFee
77000
CY2024Q2 us-gaap Security Deposit
SecurityDeposit
16000
us-gaap Gain Loss On Termination Of Lease
GainLossOnTerminationOfLease
-60000
CY2024Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
33000
us-gaap Operating Lease Cost
OperatingLeaseCost
84000
CY2023Q2 us-gaap Operating Lease Cost
OperatingLeaseCost
50000
us-gaap Operating Lease Cost
OperatingLeaseCost
101000
CY2024Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
34000
us-gaap Operating Lease Payments
OperatingLeasePayments
87000
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
52000
us-gaap Operating Lease Payments
OperatingLeasePayments
103000
tivc Monthly Rental Payments
MonthlyRentalPayments
1000
us-gaap Loss Contingency Loss In Period
LossContingencyLossInPeriod
0
CY2024Q2 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
70000
CY2023Q4 us-gaap Employee Related Liabilities Current
EmployeeRelatedLiabilitiesCurrent
218000
CY2024Q2 us-gaap Taxes Payable Current
TaxesPayableCurrent
0
CY2023Q4 us-gaap Taxes Payable Current
TaxesPayableCurrent
160000
CY2024Q2 tivc Other Accrued Research Study Costs
OtherAccruedResearchStudyCosts
41000
CY2023Q4 tivc Other Accrued Research Study Costs
OtherAccruedResearchStudyCosts
51000
CY2024Q2 tivc Other Accrued Liabilities Other Current
OtherAccruedLiabilitiesOtherCurrent
34000
CY2023Q4 tivc Other Accrued Liabilities Other Current
OtherAccruedLiabilitiesOtherCurrent
66000
CY2024Q2 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
145000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
495000
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
6183592
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
6183592
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
1466092
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
1466092
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 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 tivc Number Of Shares Included In Conversion Of Securities
NumberOfSharesIncludedInConversionOfSecurities
100
us-gaap Dividends Common Stock
DividendsCommonStock
0
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12022897
CY2023Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
59497
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
54369
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14661
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
32786
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
7190
CY2024Q2 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
12110052
CY2023Q4 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
81348
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
CY2024Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
4710000
CY2024Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
0.85
CY2024Q2 tivc Warrants Or Rights Fair Value Assumptions Method Used
WarrantsOrRightsFairValueAssumptionsMethodUsed
Black-Scholes options valuation model
CY2024Q2 us-gaap Warrants And Rights Outstanding
WarrantsAndRightsOutstanding
70000
CY2024Q2 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
12022897
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Expiration Period
SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod
P10Y
CY2022 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
CY2023Q4 tivc Percentage Of Number Of Shares Added Each Year
PercentageOfNumberOfSharesAddedEachYear
0.05
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
P4Y
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
14661
CY2023Q4 tivc Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price On Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePriceOnOutstanding
6110
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
42000
tivc Share Based Compensation Arrangement By Share Based Payment Award Options Vested Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedExercisableNumber
2201
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2292
tivc Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable For Canceled Or Expired In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableForCanceledOrExpiredInPeriod
781
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
54369
CY2024Q2 tivc Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price On Outstanding
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePriceOnOutstanding
7530
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
34.52
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
169.76
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y10D
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y3M3D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
7500
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
1.34
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
1875
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
1.34
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
5625
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
1.34
CY2024Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
54000
CY2023Q2 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
81000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
108000
us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
165000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
12077266
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
29162
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q1 tivc Rule10 B51 Arr Modified Flag
Rule10B51ArrModifiedFlag
false
CY2024Q1 tivc Non Rule10 B51 Arr Modified Flag
NonRule10B51ArrModifiedFlag
false
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

Name View Source Status
FilingSummary.xml Edgar Link unprocessable
tivc-20240630_htm.xml Edgar Link completed
0000950170-24-097056-index-headers.html Edgar Link pending
0000950170-24-097056-index.html Edgar Link pending
0000950170-24-097056.txt Edgar Link pending
0000950170-24-097056-xbrl.zip Edgar Link pending
Financial_Report.xlsx Edgar Link pending
img41944430_0.jpg Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
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report.css Edgar Link pending
Show.js Edgar Link pending
tivc-20240630.htm Edgar Link pending
tivc-20240630.xsd Edgar Link pending
tivc-ex31_1.htm Edgar Link pending
tivc-ex31_2.htm Edgar Link pending
tivc-ex32_1.htm Edgar Link pending