2022 Q1 Form 10-K Financial Statement

#000173112222000636 Filed on March 31, 2022

View on sec.gov

Income Statement

Concept 2022 Q1 2021 2020 Q4
Revenue $5.886M $15.77M $11.06M
YoY Change 83.5% 42.58%
Cost Of Revenue $3.452M $9.498M $6.289M
YoY Change 100.71% 51.02%
Gross Profit $2.434M $6.276M $4.774M
YoY Change 63.61% 31.45%
Gross Profit Margin 41.36% 39.79% 43.15%
Selling, General & Admin $682.3K $1.726M $3.898M
YoY Change 127.88% 97.82%
% of Gross Profit 28.03% 27.51% 81.64%
Research & Development $221.5K $211.1K
YoY Change
% of Gross Profit 9.1% 3.36%
Depreciation & Amortization $80.09K $198.5K $124.9K
YoY Change 72.16% 27.48%
% of Gross Profit 3.29% 3.16% 2.62%
Operating Expenses $3.483M $7.907M $4.053M
YoY Change 161.23% 95.06%
Operating Profit -$1.048M -$1.631M $720.8K
YoY Change -777.27% -326.23%
Interest Expense -$125.3K -$169.2K -$178.6K
YoY Change 607.79% -5.26%
% of Operating Profit -24.77%
Other Income/Expense, Net -$143.2K $619.7K
YoY Change 527.55% 37.64%
Pretax Income -$1.191M -$1.011M $1.171M
YoY Change -1002.86% -186.33%
Income Tax $0.00
% Of Pretax Income
Net Earnings -$1.191M -$1.011M $1.171M
YoY Change -1002.86% -186.33%
Net Earnings / Revenue -20.24% -6.41% 10.58%
Basic Earnings Per Share -$0.19
Diluted Earnings Per Share -$170.2K -$0.19 $167.3K
COMMON SHARES
Basic Shares Outstanding 7.000M shares 5.331M shares
Diluted Shares Outstanding 5.331M shares

Balance Sheet

Concept 2022 Q1 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.89M $9.972M $891.8K
YoY Change 1258.11% 1018.19%
Cash & Equivalents $5.061M $6.975M $891.8K
Short-Term Investments $9.828M $2.997M
Other Short-Term Assets $1.042M $1.009M
YoY Change 684.46% 288260.0%
Inventory $3.213M $1.800M $936.7K
Prepaid Expenses
Receivables $5.019K $5.140K
Other Receivables $286.9K $286.9K
Total Short-Term Assets $12.61M $13.07M $1.835M
YoY Change 388.56% 612.47%
LONG-TERM ASSETS
Property, Plant & Equipment $3.433M $4.434M $1.365M
YoY Change -4.52% 67.65%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.980M $3.067M
YoY Change
Other Assets $25.00K $25.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $7.896M $7.526M $2.670M
YoY Change 118.08% 181.91%
TOTAL ASSETS
Total Short-Term Assets $12.61M $13.07M $1.835M
Total Long-Term Assets $7.896M $7.526M $2.670M
Total Assets $20.50M $20.60M $4.505M
YoY Change 230.63% 357.3%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.969M $1.201M $799.3K
YoY Change 111.96% 50.24%
Accrued Expenses $660.0K $825.4K $217.9K
YoY Change 15.49% 88.32%
Deferred Revenue $200.00 $6.784K
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.123M $2.155M $1.440M
YoY Change 65.12% 49.67%
LONG-TERM LIABILITIES
Long-Term Debt $499.9K $499.9K
YoY Change -54.89% 0.0%
Other Long-Term Liabilities $1.146M $1.244M
YoY Change -24.64% 22.49%
Total Long-Term Liabilities $1.646M $1.744M
YoY Change -37.39% 15.07%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.123M $2.155M $1.440M
Total Long-Term Liabilities $1.646M $1.744M
Total Liabilities $4.769M $3.899M $2.956M
YoY Change 5.5% 31.93%
SHAREHOLDERS EQUITY
Retained Earnings -$3.209M -$1.007M
YoY Change
Common Stock $7.000K $4.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.73M $16.70M $1.549M
YoY Change
Total Liabilities & Shareholders Equity $20.50M $20.60M $4.505M
YoY Change 230.63% 357.3%

Cashflow Statement

Concept 2022 Q1 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$1.191M -$1.011M $1.171M
YoY Change -1002.86% -186.33%
Depreciation, Depletion And Amortization $80.09K $198.5K $124.9K
YoY Change 72.16% 27.48%
Cash From Operating Activities -$1.150M -$1.948M $467.5K
YoY Change -705.42% -634.09%
INVESTING ACTIVITIES
Capital Expenditures $728.4K $1.941M -$487.9K
YoY Change 64.33% 269.52%
Acquisitions
YoY Change
Other Investing Activities $80.52K -$6.097M $324.7K
YoY Change -1977.37%
Cash From Investing Activities -$647.9K -$8.037M -$163.1K
YoY Change 46.16% 3909.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $15.85M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$116.4K $16.07M 459.2K
YoY Change -125.42% 3038.06%
NET CHANGE
Cash From Operating Activities -$1.150M -$1.948M 467.5K
Cash From Investing Activities -$647.9K -$8.037M -163.1K
Cash From Financing Activities -$116.4K $16.07M 459.2K
Net Change In Cash -$1.914M $6.083M 763.6K
YoY Change -1035.84% 799.6%
FREE CASH FLOW
Cash From Operating Activities -$1.150M -$1.948M $467.5K
Capital Expenditures $728.4K $1.941M -$487.9K
Free Cash Flow -$1.878M -$3.888M $955.4K
YoY Change 641.28% 2321.86%

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-32465 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5137 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
913510 usd
CY2020 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
232520 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
903406 usd
CY2020 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-11846 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
401581 usd
CY2020 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-64362 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
238878 usd
CY2020 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
-15114 usd
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-354093 usd
CY2020 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-275605 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
7316 usd
CY2020 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-64718 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1947539 usd
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
364648 usd
CY2020 tvpc Payment To Security Deposit
PaymentToSecurityDeposit
25000 usd
CY2020 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
349744 usd
CY2021 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
6096562 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1940702 usd
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
525196 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8037264 usd
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-200452 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
15852037 usd
CY2021 tvpc Proceed From Deferred Offering Cost
ProceedFromDeferredOfferingCost
105500 usd
CY2020 tvpc Capital Contribution From Parent Net
CapitalContributionFromParentNet
262156 usd
CY2021 tvpc Proceeds From Government Grant
ProceedsFromGovernmentGrant
608224 usd
CY2020 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
609500 usd
CY2020 us-gaap Proceeds From Loans
ProceedsFromLoans
499900 usd
CY2020 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-497650 usd
CY2021 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
44628 usd
CY2020 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
90000 usd
CY2021 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
331100 usd
CY2020 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
6100 usd
CY2020 us-gaap Repayments Of Long Term Capital Lease Obligations
RepaymentsOfLongTermCapitalLeaseObligations
445760 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16068289 usd
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
512046 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
6083486 usd
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
676242 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
891816 usd
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
215574 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6975302 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
891816 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
165195 usd
CY2020 us-gaap Interest Paid Net
InterestPaidNet
120604 usd
CY2021 tvpc Increase In Rightofuse Asset And Lease Liability
IncreaseInRightofuseAssetAndLeaseLiability
655726 usd
CY2020 tvpc Increase In Rightofuse Asset And Lease Liability
IncreaseInRightofuseAssetAndLeaseLiability
1586738 usd
CY2021Q2 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
(40,000)-for-one
CY2021Q2 us-gaap Common Stock Dividends Shares
CommonStockDividendsShares
3999900 shares
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
14100 usd
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
6784 usd
CY2021Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
3149300 usd
CY2020Q4 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
1898327 usd
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
8892 usd
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
9231 usd
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
9583 usd
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
470023 usd
CY2021 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_848_eus-gaap--UseOfEstimates_zPU3OrnaewC6" 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"><b><i><span id="xdx_862_z6HvyO3CdYf8">Use of Estimates</span></i></b></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">The preparation of 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 consolidated financial statements and the reported amounts of expenses during the reporting period. Some of these judgments can be subjective and complex, and, consequently, actual results may differ from these estimates.</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>
CY2021 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_844_eus-gaap--ConcentrationRiskCreditRisk_zaVzLIKHem7" 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"><b><i><span id="xdx_86D_znw5mN6XKha9">Concentrations of Credit and Business Risk</span></i></b></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"><b> </b></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">Financial instruments that potentially subject the Company to concentrations of credit risk primarily consist of trade receivables. Credit risk on trade receivables is mitigated as a result of the Company’s use of trade letters of credit, dealer floor plan financing arrangements, and the geographically diversified nature of the Company’s customer base. The Company minimizes the concentration of credit risk associated with its cash by maintaining its cash with high quality federally insured financial institutions. However, cash balances in excess of the Federal Deposit Insurance Corporation (“FDIC”) insured limit of $<span id="xdx_90F_eus-gaap--CashFDICInsuredAmount_c20211231_pp0p0" title="FDIC insured limit">250,000</span> are at risk. As of December 31, 2021 and December 31, 2020, the Company had $<span id="xdx_907_eus-gaap--CashUninsuredAmount_c20211231_pp0p0" title="FDIC uninsured amount">6,725,302</span> and $<span id="xdx_906_eus-gaap--CashUninsuredAmount_c20201231_pp0p0" title="FDIC uninsured amount">641,816</span>, respectively, in excess of FDIC insured limits.</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>
CY2021Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2021Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
6725302 usd
CY2020Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
641816 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6975302 usd
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
891816 usd
CY2020 us-gaap Lease Cost
LeaseCost
303910 usd
CY2021Q4 us-gaap Long Term Debt
LongTermDebt
499900 usd
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
1478294 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
102865 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
5.70
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P9Y5M15D
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
75000 usd
CY2019Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
75000 usd
CY2021 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
75012 usd
CY2020 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
63606 usd
CY2021 tvpc Provision For Product Warranty Liabilities
ProvisionForProductWarrantyLiabilities
75012 usd
CY2020 tvpc Provision For Product Warranty Liabilities
ProvisionForProductWarrantyLiabilities
63606 usd
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
75000 usd
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
75000 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
57042 usd
CY2020 us-gaap Advertising Expense
AdvertisingExpense
28736 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
211111 usd
CY2020 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
0 usd
CY2021 tvpc Sharebased Compensation Arrangement By Forfeited Canceled Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementByForfeitedCanceledSharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y8M23D
CY2021 tvpc Sharebased Compensation Arrangement By Sharebased Payment Award Options Forfeited Canceled In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedCanceledInPeriodFairValue1
-95003 usd
CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
13039399 usd
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
713612 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
5.13
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y6M14D
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1518947 usd
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
763633 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
240256 usd
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
173043 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
40566 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
1799769 usd
CY2020Q4 us-gaap Inventory Net
InventoryNet
936676 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3344303 usd
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
1651906 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
461132 usd
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
286877 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2883171 usd
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1365029 usd
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
198523 usd
CY2020 us-gaap Depreciation And Amortization
DepreciationAndAmortization
155728 usd
CY2021Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0036 pure
CY2020Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0167 pure
CY2021Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
2171 usd
CY2021 tvpc Schedule Of Leases Supplemental Balance Sheet Information
ScheduleOfLeasesSupplementalBalanceSheetInformation
<table cellpadding="0" cellspacing="0" id="xdx_898_ecustom--ScheduleOfLeasesSupplementalBalanceSheetInformation_zCwBuCvZO0zb" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Leases - Related Party (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B8_zwXO0zQuc4Tl" style="display: none">Schedule of leases supplemental balance sheet information</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_49C_20211231_zdI9e2gSqjQb" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_497_20201231_zBXoOAhFn8ye" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31,</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31,</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2020</span></td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseRightOfUseAsset_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating lease ROU asset</span></td><td style="width: 8%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,550,530</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 8%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,279,595</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 36pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_498_20211231_z9FCFdFuN3qb" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49E_20201231_zq6hYAh9g604" style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31,</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December 31,</span></td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2021</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2020</span></td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Operating lease liabilities:</span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_402_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_maOLLzimi_zEZE6XNH7L7f" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Current portion</span></td><td style="width: 8%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">368,602</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="width: 8%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="width: 12%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">295,374</span></td><td style="width: 1%; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_maOLLzimi_zP7aIo3SEghg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Non-current portion</span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,244,164</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,015,759</span></td><td style="padding-bottom: 1pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> <tr id="xdx_401_eus-gaap--OperatingLeaseLiability_iTI_pp0p0_mtOLLzimi_zk3AJqs3mFP1" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="color: White; font-family: Times New Roman, Times, Serif; font-size: 10pt"> Total lease liabilities </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,612,766</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td><td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">1,311,133</span></td><td style="padding-bottom: 2.5pt; text-align: left"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></td></tr> </table>
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1550530 usd
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1279595 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
368602 usd
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
295374 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1244164 usd
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1015759 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1612766 usd
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1311133 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
373800 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
396900 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
416745 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
437582 usd
CY2021Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1625027 usd
CY2021Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
12261 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1612766 usd
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0036 pure
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P4Y3M
CY2021 us-gaap Operating Lease Cost
OperatingLeaseCost
390699 usd
CY2020 us-gaap Operating Lease Cost
OperatingLeaseCost
303910 usd
CY2021 us-gaap Lease Cost
LeaseCost
390699 usd
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
185402 usd
CY2020Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
60988 usd
CY2021Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
30000 usd
CY2020Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
0 usd
CY2021Q4 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
75000 usd
CY2020Q4 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
75000 usd
CY2021Q4 us-gaap Accrued Exchange Fee Rebate Current
AccruedExchangeFeeRebateCurrent
60000 usd
CY2020Q4 us-gaap Accrued Exchange Fee Rebate Current
AccruedExchangeFeeRebateCurrent
0 usd
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
33852 usd
CY2020Q4 us-gaap Interest Payable Current
InterestPayableCurrent
62317 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
72560 usd
CY2020Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
19631 usd
CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
456814 usd
CY2020Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
217936 usd
CY2021Q4 us-gaap Due From Affiliates
DueFromAffiliates
93000 usd
CY2021Q4 us-gaap Contractual Obligation
ContractualObligation
4273258 usd
CY2020Q4 us-gaap Contractual Obligation
ContractualObligation
1790000 usd
CY2021Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
50000000 shares
CY2021Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
10000000 shares
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.001
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.001
CY2021 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
forty-thousand (40,000)-for-one stock split
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
309832 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
754000 shares
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
5.15
CY2021 tvpc Sharebased Compensation Arrangement By Granted Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementByGrantedSharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P10Y
CY2021 tvpc Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedInPeriodFairValue1
1573297 usd
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
40388 shares
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
5.53
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
713612 shares
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
610747 shares
CY2021 tvpc Gain Loss On Disposition Of Asset
GainLossOnDispositionOfAsset
249499 usd
CY2021 us-gaap Gain On Business Interruption Insurance Recovery
GainOnBusinessInterruptionInsuranceRecovery
434724 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
3800000 usd
CY2020Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
2175000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
3800000 usd
CY2020Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
2175000 usd
CY2021 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
375000 usd
CY2021Q4 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
3800000 usd
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.020 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.020 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.230 pure
CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.230 pure
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0.000 usd
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
0.000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-1011009 usd
CY2020 us-gaap Net Income Loss
NetIncomeLoss
1171077 usd
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5331400 shares
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4000000 shares
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5331400 shares
CY2020 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
4000000 shares
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.19
CY2020 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.29
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.19
CY2020 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.29

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