2022 Q2 Form 10-Q Financial Statement

#000173112222000883 Filed on May 12, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2022 Q1 2021 Q1
Revenue $8.520M $5.886M $3.208M
YoY Change 158.36% 83.5% 20.28%
Cost Of Revenue $5.072M $3.452M $1.720M
YoY Change 156.0% 100.71% 14.83%
Gross Profit $3.447M $2.434M $1.488M
YoY Change 161.92% 63.61% 27.25%
Gross Profit Margin 40.46% 41.36% 46.39%
Selling, General & Admin $637.7K $682.3K $299.4K
YoY Change 129.26% 127.88% -70.04%
% of Gross Profit 18.5% 28.03% 20.12%
Research & Development $174.8K $221.5K
YoY Change
% of Gross Profit 5.07% 9.1%
Depreciation & Amortization $119.8K $80.09K $46.52K
YoY Change 119.95% 72.16% 50.95%
% of Gross Profit 3.48% 3.29% 3.13%
Operating Expenses $3.919M $3.483M $1.333M
YoY Change 173.48% 161.23% 29.41%
Operating Profit -$472.0K -$1.048M $154.8K
YoY Change 303.63% -777.27% 11.31%
Interest Expense -$37.86K -$125.3K -$17.71K
YoY Change 117.09% 607.79% -70.67%
% of Operating Profit -11.44%
Other Income/Expense, Net -$66.80K -$143.2K -$22.81K
YoY Change -139.81% 527.55%
Pretax Income -$538.8K -$1.191M $132.0K
YoY Change -1159.55% -1002.86% 67.75%
Income Tax
% Of Pretax Income
Net Earnings -$538.8K -$1.191M $131.9K
YoY Change -1159.53% -1002.86% 67.75%
Net Earnings / Revenue -6.32% -20.24% 4.11%
Basic Earnings Per Share -$0.08
Diluted Earnings Per Share -$76.97K -$170.2K $18.85K
COMMON SHARES
Basic Shares Outstanding 7.000M shares 7.000M shares
Diluted Shares Outstanding 7.000M shares

Balance Sheet

Concept 2022 Q2 2022 Q1 2021 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $9.859M $14.89M $1.096M
YoY Change 2324.62% 1258.11%
Cash & Equivalents $5.911M $5.061M $1.096M
Short-Term Investments $3.949M $9.828M
Other Short-Term Assets $755.3K $1.042M $132.8K
YoY Change 17.01% 684.46%
Inventory $4.370M $3.213M $1.252M
Prepaid Expenses
Receivables $5.019K $85.56K
Other Receivables $286.9K $286.9K $13.81K
Total Short-Term Assets $12.32M $12.61M $2.580M
YoY Change 324.86% 388.56%
LONG-TERM ASSETS
Property, Plant & Equipment $4.363M $3.433M $3.595M
YoY Change 165.22% -4.52%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $2.951M $2.980M
YoY Change
Other Assets $25.00K $25.00K $25.00K
YoY Change 0.0% 0.0%
Total Long-Term Assets $8.700M $7.896M $3.620M
YoY Change 154.91% 118.08%
TOTAL ASSETS
Total Short-Term Assets $12.32M $12.61M $2.580M
Total Long-Term Assets $8.700M $7.896M $3.620M
Total Assets $21.02M $20.50M $6.201M
YoY Change 232.98% 230.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.262M $1.969M $929.2K
YoY Change 90.1% 111.96%
Accrued Expenses $683.4K $660.0K $571.5K
YoY Change 499.39% 15.49%
Deferred Revenue $532.1K $200.00
YoY Change 181.58%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change
Total Short-Term Liabilities $3.976M $3.123M $1.891M
YoY Change 94.49% 65.12%
LONG-TERM LIABILITIES
Long-Term Debt $499.9K $499.9K $1.108M
YoY Change -54.89% -54.89%
Other Long-Term Liabilities $1.048M $1.146M $1.521M
YoY Change -26.66% -24.64%
Total Long-Term Liabilities $1.548M $1.646M $2.629M
YoY Change -38.99% -37.39%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.976M $3.123M $1.891M
Total Long-Term Liabilities $1.548M $1.646M $2.629M
Total Liabilities $5.524M $4.769M $4.520M
YoY Change 20.58% 5.5%
SHAREHOLDERS EQUITY
Retained Earnings -$3.748M -$3.209M
YoY Change 354.95%
Common Stock $7.000K $7.000K
YoY Change 75.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $15.50M $15.73M $1.681M
YoY Change
Total Liabilities & Shareholders Equity $21.02M $20.50M $6.201M
YoY Change 232.98% 230.63%

Cashflow Statement

Concept 2022 Q2 2022 Q1 2021 Q1
OPERATING ACTIVITIES
Net Income -$538.8K -$1.191M $131.9K
YoY Change -1159.53% -1002.86% 67.75%
Depreciation, Depletion And Amortization $119.8K $80.09K $46.52K
YoY Change 119.95% 72.16% 50.95%
Cash From Operating Activities -$46.58K -$1.150M $189.9K
YoY Change -74.8% -705.42% -284.64%
INVESTING ACTIVITIES
Capital Expenditures -$1.081M $728.4K $443.3K
YoY Change 568.43% 64.33% -1287.06%
Acquisitions
YoY Change
Other Investing Activities $2.002M $80.52K
YoY Change
Cash From Investing Activities $921.0K -$647.9K -$443.3K
YoY Change -669.41% 46.16% 1087.06%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -25.24K -$116.4K $457.9K
YoY Change -92.64% -125.42% 765.86%
NET CHANGE
Cash From Operating Activities -46.58K -$1.150M $189.9K
Cash From Investing Activities 921.0K -$647.9K -$443.3K
Cash From Financing Activities -25.24K -$116.4K $457.9K
Net Change In Cash 849.2K -$1.914M $204.5K
YoY Change -223.12% -1035.84% -334.24%
FREE CASH FLOW
Cash From Operating Activities -$46.58K -$1.150M $189.9K
Capital Expenditures -$1.081M $728.4K $443.3K
Free Cash Flow $1.035M -$1.878M -$253.4K
YoY Change -4576.59% 641.28% 286.74%

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CY2021Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
189898 usd
CY2022Q1 us-gaap Proceeds From Sale And Maturity Of Marketable Securities
ProceedsFromSaleAndMaturityOfMarketableSecurities
516 usd
CY2022Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
80000 usd
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
728371 usd
CY2021Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
443250 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-647855 usd
CY2021Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-443250 usd
CY2022Q1 us-gaap Deferred Finance Costs Ownshare Lending Arrangement Issuance Costs Adjustment
DeferredFinanceCostsOwnshareLendingArrangementIssuanceCostsAdjustment
116394 usd
CY2021Q1 us-gaap Deferred Finance Costs Ownshare Lending Arrangement Issuance Costs Adjustment
DeferredFinanceCostsOwnshareLendingArrangementIssuanceCostsAdjustment
131000 usd
CY2021Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
608224 usd
CY2022Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
0 usd
CY2021Q1 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
24300 usd
CY2021Q1 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
43658 usd
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-116394 usd
CY2021Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
457866 usd
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-1913922 usd
CY2021Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
204514 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
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5061380 usd
CY2021Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
1096330 usd
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
38647 usd
CY2021Q1 us-gaap Interest Paid Net
InterestPaidNet
79129 usd
CY2021Q1 tvpc Increase In Rightofuse Asset And Lease Liability
IncreaseInRightofuseAssetAndLeaseLiability
655726 usd
CY2022Q1 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_z2AjaVijFE73" 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_zSlS4bwKV1F6">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"/> </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 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 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>
CY2022Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
5061380 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6975302 usd
CY2022Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_845_eus-gaap--ConcentrationRiskCreditRisk_zQ350mCvLrue" 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_zC2hoSQpFCMf">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"> </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_90E_eus-gaap--CashFDICInsuredAmount_c20220331_pp0p0" title="FDIC insured limit">250,000</span> are at risk. As of March 31, 2022 and December 31, 2021, the Company had $<span id="xdx_900_eus-gaap--CashUninsuredAmount_c20220331_pp0p0" title="FDIC uninsured amount">4,121,000</span> and $<span id="xdx_903_eus-gaap--CashUninsuredAmount_iI_pp0p0_c20211231_zmUJQhTVZ28j" title="FDIC uninsured amount">6,725,302</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>
CY2022Q1 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q1 us-gaap Cash Uninsured Amount
CashUninsuredAmount
4121000 usd
CY2021Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
6725302 usd
CY2022Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
200 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
14100 usd
CY2022Q1 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
1250003 usd
CY2021Q1 us-gaap Accounts Payable Related Parties Current
AccountsPayableRelatedPartiesCurrent
642771 usd
CY2022Q1 us-gaap Marketable Securities
MarketableSecurities
9827969 usd
CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
13039399 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
4.83
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y5M1D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
194163 shares
CY2022Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
2853541 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1518947 usd
CY2022Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
359641 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
240256 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
40566 usd
CY2022Q1 us-gaap Inventory Net
InventoryNet
3213182 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
1799769 usd
CY2022Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3970689 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3344303 usd
CY2022Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
537647 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
461132 usd
CY2022Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
3433042 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2883171 usd
CY2022Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
80092 usd
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
46523 usd
CY2022Q1 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0036 pure
CY2021Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0167 pure
CY2022Q1 tvpc Schedule Of Leases Supplemental Balance Sheet Information
ScheduleOfLeasesSupplementalBalanceSheetInformation
<table cellpadding="0" cellspacing="0" id="xdx_896_ecustom--ScheduleOfLeasesSupplementalBalanceSheetInformation_zOBm36S61Ldb" 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_8B5_z7zJnuDkwx13" style="display: none">Schedule of leases supplemental balance sheet information</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_49A_20220331_z2uBJY7m4Sda" style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_495_20211231_zOQmLGQvkOHc" 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"> </td><td> </td> <td colspan="3" style="text-align: center">March 31,</td><td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2022</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2021</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">Operating lease ROU asset</td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,457,424</td><td style="width: 1%; text-align: left"> </td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">1,550,530</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td><td> </td> <td colspan="3" style="text-align: center">March 31,</td><td> </td> <td colspan="3" style="text-align: center">December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2021</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2021</td></tr> <tr id="xdx_40A_eus-gaap--OperatingLeaseLiabilityAbstract_iB" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Operating lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_maOLLzlPz_zZtpCgdyyPD1" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Current portion</td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">377,856</td><td style="width: 1%; text-align: left"> </td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">368,602</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_maOLLzlPz_zBGyVNo5WSEf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Non-current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,146,029</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,244,164</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--OperatingLeaseLiability_iTI_pp0p0_mtOLLzlPz_z1fLuRy4orh1" style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,523,885</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,612,766</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2022Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1457424 usd
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1550530 usd
CY2022Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
377856 usd
CY2021Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
368602 usd
CY2022Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1146029 usd
CY2021Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1244164 usd
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1523885 usd
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1612766 usd
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
283500 usd
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
396900 usd
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
416745 usd
CY2022Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
437582 usd
CY2022Q1 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1534727 usd
CY2022Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
10842 usd
CY2022Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
1523885 usd
CY2022Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0036 pure
CY2022Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M1D
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
97674 usd
CY2021Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
97674 usd
CY2022Q1 us-gaap Lease Cost
LeaseCost
97674 usd
CY2021Q1 us-gaap Lease Cost
LeaseCost
97674 usd
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
9231 usd
CY2022Q1 us-gaap Long Term Debt Maturing In Years Two And Three
LongTermDebtMaturingInYearsTwoAndThree
9583 usd
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
470023 usd
CY2022Q1 us-gaap Long Term Debt
LongTermDebt
499900 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
962957 shares
CY2022Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
136929 usd
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
185402 usd
CY2022Q1 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
30000 usd
CY2021Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
30000 usd
CY2022Q1 tvpc Accrued Warranty
AccruedWarranty
76927 usd
CY2021Q4 tvpc Accrued Warranty
AccruedWarranty
75000 usd
CY2022Q1 tvpc Accrued Rebates
AccruedRebates
150000 usd
CY2021Q4 tvpc Accrued Rebates
AccruedRebates
60000 usd
CY2022Q1 us-gaap Interest Payable Current
InterestPayableCurrent
38871 usd
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
33852 usd
CY2022Q1 tvpc Accrued Professional Fees
AccruedProfessionalFees
169701 usd
CY2021Q4 tvpc Accrued Professional Fees
AccruedProfessionalFees
10225 usd
CY2022Q1 tvpc Accrued Operating Expenses
AccruedOperatingExpenses
57610 usd
CY2021Q4 tvpc Accrued Operating Expenses
AccruedOperatingExpenses
62335 usd
CY2022Q1 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
660038 usd
CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
456814 usd
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
2171 usd
CY2022Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
8892 usd
CY2022Q1 us-gaap Due From Affiliates
DueFromAffiliates
93000 usd
CY2022Q1 us-gaap Debt Instrument Periodic Payment
DebtInstrumentPeriodicPayment
5850 usd
CY2022Q1 us-gaap Contractual Obligation
ContractualObligation
5361000 usd
CY2021Q4 us-gaap Contractual Obligation
ContractualObligation
4273258 usd
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
352043 shares
CY2022Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
320505 usd
CY2021Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
0 usd
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P5Y
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Weighted Average Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate
0.49 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0150 pure
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0194 pure
CY2022Q1 tvpc Expected Volatility Of Option Table Textblock
ExpectedVolatilityOfOptionTableTextblock
<table cellpadding="0" cellspacing="0" id="xdx_881_ecustom--ExpectedVolatilityOfOptionTableTextblock_zxA3iYaXT9a3" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Stockholder's Equity (Details 1)"> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span id="xdx_8B6_zFYsEVkJUtC1" style="display: none">Schedule of Expected Volatility Of Option</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="7" style="border-bottom: Black 1pt solid; text-align: center">Options Outstanding</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="text-align: center">Weighted Average</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td> </td> <td colspan="3" style="text-align: center">Number of</td><td> </td> <td colspan="3" style="text-align: center">Weighted Average</td><td> </td> <td colspan="3" style="text-align: center">Remaining life</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Options</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Exercise Price</td><td style="padding-bottom: 1pt"> </td> <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">(years)</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td> <td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding: 0pt 0pt 0pt 10pt; width: 34%; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Outstanding, December 31, 2021</span></td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_c20220101__20220331_zGa43X4wBxwb" style="width: 15%; text-align: right" title="Outstanding at beginning of period">713,612</td><td style="width: 1%; text-align: left"> </td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_c20220101__20220331_zAF7P91tEhjg" style="width: 15%; text-align: right" title="Outstanding at beginning of period">5.13</td><td style="width: 1%; text-align: left"> </td><td style="width: 5%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 15%; text-align: right"><span id="xdx_907_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20210101__20211231_zEtgxnJp5bz4" title="Outstanding at beginning of period">9.54</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Granted</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_c20220101__20220331_pdd" style="text-align: right" title="Granted">252,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_c20220101__20220331_pdd" style="text-align: right" title="Granted">3.86</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_ecustom--SharebasedCompensationArrangementByGrantedSharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20220331_zzY4Z0zdiRE3" title="Granted">10.00</span></td><td style="text-align: left"> </td></tr> <tr 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: 10pt Times New Roman, Times, Serif">Exercised</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_c20220101__20220331_pdd" style="text-align: right" title="Exercised"><span style="-sec-ix-hidden: xdx2ixbrl0745">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_c20220101__20220331_pdd" style="text-align: right" title="Exercised"><span style="-sec-ix-hidden: xdx2ixbrl0747">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Forfeited/canceled</span></td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_di_c20220101__20220331_zK9EY7PIjev4" style="border-bottom: Black 1pt solid; text-align: right" title="Forfeited">(2,655</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_iN_di_c20220101__20220331_ztCCDjSRAlF7" style="border-bottom: Black 1pt solid; text-align: right" title="Forfeited">(4.10</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(<span id="xdx_90F_ecustom--SharebasedCompensationArrangementByForfeitedCanceledSharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20220331_zLGy1l5q802k" title="Forfeited">9.39</span></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr 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: 10pt Times New Roman, Times, Serif">Outstanding, March 31, 2022</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_c20220101__20220331_zypY4AmCzxBa" style="border-bottom: Black 2.5pt double; text-align: right" title="Outstanding at end of period">962,957</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_c20220101__20220331_zr2CDVAEqP39" style="border-bottom: Black 2.5pt double; text-align: right" title="Outstanding at end of period">4.83</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_908_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20220101__20220331_z00U57b7HVU6" title="Outstanding at end of period">9.42</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> <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 style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr 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: 10pt Times New Roman, Times, Serif">Exercisable options, March 31, 2022</span></td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iI_c20220331_zb2mukBkJjeg" style="border-bottom: Black 2.5pt double; text-align: right" title="Exercisable at end of period">194,163</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_c20220331_pdd" style="border-bottom: Black 2.5pt double; text-align: right" title="Exercisable at end of period">4.34</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20220101__20220331_zLKnPBkTUyh4" title="Exercisable at end of period">7.33</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
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
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
252000 shares
CY2022Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
3.86
CY2022Q1 tvpc Sharebased Compensation Arrangement By Granted Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementByGrantedSharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P10Y
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
2655 shares
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
4.10
CY2022Q1 tvpc Sharebased Compensation Arrangement By Forfeited Canceled Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementByForfeitedCanceledSharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P9Y4M20D
CY2022Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.34
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P7Y3M29D
CY2022Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
768794 shares
CY2022Q1 us-gaap Revenues
Revenues
5886000 usd
CY2022Q1 us-gaap Cost Of Revenue
CostOfRevenue
3451646 usd
CY2022Q1 us-gaap Operating Expenses
OperatingExpenses
3482507 usd
CY2022Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
-1048153 usd
CY2022Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
143164 usd
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
-1191317 usd
CY2021Q1 us-gaap Revenues
Revenues
3207643 usd
CY2021Q1 us-gaap Cost Of Revenue
CostOfRevenue
1719737 usd
CY2021Q1 us-gaap Operating Expenses
OperatingExpenses
1333144 usd
CY2021Q1 us-gaap Operating Income Loss
OperatingIncomeLoss
154762 usd
CY2021Q1 us-gaap Other Nonoperating Income
OtherNonoperatingIncome
22813 usd
CY2021Q1 us-gaap Net Income Loss
NetIncomeLoss
131949 usd

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