2023 Q1 Form 10-K Financial Statement

#000173112223000505 Filed on March 30, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $8.877M $8.770M $31.99M
YoY Change 50.82% 70.27% 102.79%
Cost Of Revenue $5.655M $7.329M $21.33M
YoY Change 63.85% 122.83% 124.57%
Gross Profit $3.222M $1.441M $10.66M
YoY Change 32.35% -22.59% 69.81%
Gross Profit Margin 36.29% 16.43% 33.32%
Selling, General & Admin $1.023M $4.643M $2.760M
YoY Change 49.88% 55.23% 59.85%
% of Gross Profit 31.74% 322.19% 25.9%
Research & Development $702.6K $261.2K $941.5K
YoY Change 217.16% 74.14% 345.99%
% of Gross Profit 21.81% 18.13% 8.84%
Depreciation & Amortization $218.3K $181.2K $553.8K
YoY Change 172.54% 172.83% 178.93%
% of Gross Profit 6.78% 12.58% 5.2%
Operating Expenses $5.591M $5.086M $16.68M
YoY Change 60.56% 58.55% 110.95%
Operating Profit -$2.370M -$3.645M -$6.022M
YoY Change 126.07% 170.77% 269.27%
Interest Expense $213.0K $380.00 -$222.8K
YoY Change -269.95% -100.52% 31.66%
% of Operating Profit
Other Income/Expense, Net $541.1K $122.1K $228.3K
YoY Change -477.93% 31217.95% -63.16%
Pretax Income -$1.828M -$3.176M -$5.793M
YoY Change 53.48% 291.87% 473.03%
Income Tax
% Of Pretax Income
Net Earnings -$1.828M -$2.707M -$5.793M
YoY Change 53.48% 233.99% 473.03%
Net Earnings / Revenue -20.6% -30.87% -18.11%
Basic Earnings Per Share -$0.12 -$0.76
Diluted Earnings Per Share -$0.12 -$0.29 -$0.76
COMMON SHARES
Basic Shares Outstanding 9.520M shares 9.520M shares 7.625M shares
Diluted Shares Outstanding 9.520M shares 7.625M shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.46M $26.43M $24.98M
YoY Change 57.54% 102.68% 150.52%
Cash & Equivalents $21.02M $23.50M $23.50M
Short-Term Investments $2.435M $2.928M $1.482M
Other Short-Term Assets $618.6K $882.4K $882.4K
YoY Change -40.62% -12.57% -12.57%
Inventory $4.797M $4.008M $4.008M
Prepaid Expenses
Receivables $625.3K $14.17K $14.17K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $28.56M $29.89M $29.89M
YoY Change 126.51% 128.61% 128.61%
LONG-TERM ASSETS
Property, Plant & Equipment $6.154M $5.536M $6.866M
YoY Change 79.26% 92.01% 54.85%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $942.7K $1.446M $1.446M
YoY Change -68.36% -52.86% -52.86%
Other Assets $32.52K $32.52K $32.52K
YoY Change 30.08% 30.08% 30.08%
Total Long-Term Assets $8.341M $8.344M $8.344M
YoY Change 5.64% 10.87% 10.87%
TOTAL ASSETS
Total Short-Term Assets $28.56M $29.89M $29.89M
Total Long-Term Assets $8.341M $8.344M $8.344M
Total Assets $36.90M $38.23M $38.23M
YoY Change 79.96% 85.6% 85.6%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.716M $2.066M $2.066M
YoY Change 37.91% 72.02% 72.02%
Accrued Expenses $629.2K $1.241M $1.720M
YoY Change -4.67% 171.61% 108.39%
Deferred Revenue $5.800K $5.300K
YoY Change 2800.0% -62.41%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $16.83K
YoY Change
Total Short-Term Liabilities $3.854M $3.791M $3.791M
YoY Change 23.43% 75.89% 75.88%
LONG-TERM LIABILITIES
Long-Term Debt $572.6K $499.9K $499.9K
YoY Change 14.55% 0.0% 0.0%
Other Long-Term Liabilities $793.6K $919.6K $919.6K
YoY Change -30.76% -26.08% -26.08%
Total Long-Term Liabilities $1.366M $1.420M $1.420M
YoY Change -17.0% -18.61% -18.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.854M $3.791M $3.791M
Total Long-Term Liabilities $1.366M $1.420M $1.420M
Total Liabilities $5.220M $5.211M $9.796M
YoY Change 9.47% 33.62% 151.21%
SHAREHOLDERS EQUITY
Retained Earnings -$8.322M -$7.155M
YoY Change 159.33% 254.63%
Common Stock $9.520K $9.520K
YoY Change 36.0% 36.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $27.75M $28.44M $28.44M
YoY Change
Total Liabilities & Shareholders Equity $36.90M $38.23M $38.23M
YoY Change 79.96% 85.6% 85.6%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$1.828M -$2.707M -$5.793M
YoY Change 53.48% 233.99% 473.03%
Depreciation, Depletion And Amortization $218.3K $181.2K $553.8K
YoY Change 172.54% 172.83% 178.93%
Cash From Operating Activities -$2.233M -$1.562M -$4.146M
YoY Change 94.2% 29.69% 112.89%
INVESTING ACTIVITIES
Capital Expenditures $744.0K $971.5K $3.366M
YoY Change 2.15% -235.14% 73.43%
Acquisitions
YoY Change
Other Investing Activities $501.0K $87.48K $3.170M
YoY Change 522.21% 1685.31% -152.0%
Cash From Investing Activities -$243.0K -$884.0K -$195.6K
YoY Change -62.49% 23.82% -97.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $6.002M
YoY Change -62.14%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$2.835K 5.971M $20.87M
YoY Change -97.56% -7082.13% 29.87%
NET CHANGE
Cash From Operating Activities -$2.233M -1.562M -$4.146M
Cash From Investing Activities -$243.0K -884.0K -$195.6K
Cash From Financing Activities -$2.835K 5.971M $20.87M
Net Change In Cash -$2.478M 3.525M $16.53M
YoY Change 29.5% -275.96% 171.65%
FREE CASH FLOW
Cash From Operating Activities -$2.233M -$1.562M -$4.146M
Capital Expenditures $744.0K $971.5K $3.366M
Free Cash Flow -$2.977M -$2.533M -$7.512M
YoY Change 58.5% 422.05% 93.19%

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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
33020889 usd
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-5793414 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-1011009 usd
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
1448751 usd
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
309832 usd
CY2021 us-gaap Operating Lease Impairment Loss
OperatingLeaseImpairmentLoss
50417 usd
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
553750 usd
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
198523 usd
CY2022 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-60088 usd
CY2021 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
-224037 usd
CY2021 tvpc Gain On Government Grant
GainOnGovernmentGrant
608224 usd
CY2022 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
397136 usd
CY2021 us-gaap Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
384791 usd
CY2022 tvpc Net Change In Fair Value Of Marketable Securities
NetChangeInFairValueOfMarketableSecurities
-133988 usd
CY2021 tvpc Net Change In Fair Value Of Marketable Securities
NetChangeInFairValueOfMarketableSecurities
-32465 usd
CY2022 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
9030 usd
CY2021 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5137 usd
CY2022 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
2208563 usd
CY2021 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
913510 usd
CY2022 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-21339 usd
CY2021 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
903406 usd
CY2022 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
864819 usd
CY2021 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
401581 usd
CY2022 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
783955 usd
CY2021 us-gaap Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
238878 usd
CY2022 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-390050 usd
CY2021 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
-354093 usd
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-8800 usd
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
7316 usd
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-4146030 usd
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-1947539 usd
CY2022 tvpc Payment To Security Deposit
PaymentToSecurityDeposit
7517 usd
CY2022 tvpc Net Sales Purchases Of Investment In Trading Marketable Securities
NetSalesPurchasesOfInvestmentInTradingMarketableSecurities
-3002591 usd
CY2021 tvpc Net Sales Purchases Of Investment In Trading Marketable Securities
NetSalesPurchasesOfInvestmentInTradingMarketableSecurities
6096562 usd
CY2022 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
175000 usd
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3365679 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1940702 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-195605 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-8037264 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
6001836 usd
CY2021 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
15746537 usd
CY2022 tvpc Net Proceeds From Forza Issuance Of Common Stock
NetProceedsFromForzaIssuanceOfCommonStock
14934989 usd
CY2021 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
608224 usd
CY2022 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
-11826 usd
CY2021 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
44628 usd
CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
57659 usd
CY2021 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
331100 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
20867340 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
16068289 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
16525705 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
6083486 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6975302 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
891816 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
23501007 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6975302 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
150399 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
165195 usd
CY2022 tvpc Increase In Rightofuse Asset
IncreaseInRightofuseAsset
176226 usd
CY2021 tvpc Increase In Rightofuse Asset
IncreaseInRightofuseAsset
655726 usd
CY2022 tvpc Common Stock Issued For Payment On Behalf Of Twin Vee Inc.
CommonStockIssuedForPaymentOnBehalfOfTwinVeeInc.
52400 usd
CY2021 tvpc Provision For Product Warranty Liabilities
ProvisionForProductWarrantyLiabilities
75012 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
92373 usd
CY2021Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
75000 usd
CY2022Q2 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
(40,000)-for-one
CY2022Q2 us-gaap Common Stock Dividends Shares
CommonStockDividendsShares
3999900 shares
CY2022Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
5300 usd
CY2021Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
14100 usd
CY2022Q4 tvpc Accounts Payable Related Party Current
AccountsPayableRelatedPartyCurrent
5020973 usd
CY2021Q4 tvpc Accounts Payable Related Party Current
AccountsPayableRelatedPartyCurrent
3149300 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_842_eus-gaap--UseOfEstimates_zctZtngFfTN4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_860_zJQ6rLx2uDq">Use of Estimates</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2022 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84E_eus-gaap--ConcentrationRiskCreditRisk_zMIUHCHp4Tjk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_867_zC6hKdiFsc11">Concentrations of Credit and Business Risk</span></i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">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_c20221231_pp0p0" title="FDIC insured limit">250,000</span> are at risk. As of December 31, 2022 and 2021, the Company had $<span id="xdx_900_eus-gaap--CashUninsuredAmount_c20221231_pp0p0" title="FDIC uninsured amount">22,666,301</span> and $<span id="xdx_907_eus-gaap--CashUninsuredAmount_c20211231_pp0p0" title="FDIC uninsured amount">6,725,302</span>, respectively, in excess of FDIC insured limits.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2022Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
22666301 usd
CY2021Q4 us-gaap Cash Uninsured Amount
CashUninsuredAmount
6725302 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
23501007 usd
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
6975302 usd
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
75000 usd
CY2020Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
75000 usd
CY2022 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
227229 usd
CY2021 us-gaap Product Warranty Accrual Payments
ProductWarrantyAccrualPayments
75012 usd
CY2022 tvpc Provision For Product Warranty Liabilities
ProvisionForProductWarrantyLiabilities
244602 usd
CY2022 us-gaap Advertising Expense
AdvertisingExpense
112320 usd
CY2021 us-gaap Advertising Expense
AdvertisingExpense
43467 usd
CY2022 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
941533 usd
CY2021 us-gaap Research And Development Expense
ResearchAndDevelopmentExpense
211111 usd
CY2022 tvpc Government Grant Income
GovernmentGrantIncome
355987 usd
CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
2927518 usd
CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
6064097 usd
CY2022Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3406371 usd
CY2021Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1518947 usd
CY2022Q4 us-gaap Other Inventory In Transit
OtherInventoryInTransit
222607 usd
CY2021Q4 us-gaap Other Inventory In Transit
OtherInventoryInTransit
0 usd
CY2022Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
246734 usd
CY2021Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
240256 usd
CY2022Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
132620 usd
CY2021Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
40566 usd
CY2022Q4 us-gaap Inventory Net
InventoryNet
4008332 usd
CY2021Q4 us-gaap Inventory Net
InventoryNet
1799769 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6594293 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3344303 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
1058391 usd
CY2021Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
461132 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
5535902 usd
CY2021Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
2883171 usd
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
553750 usd
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
198523 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
396675 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
424488 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
437582 usd
CY2022Q4 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
1258745 usd
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
7064 usd
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1251681 usd
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0036 pure
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y11M1D
CY2022Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.0033 pure
CY2022 tvpc Schedule Of Leases Supplemental Balance Sheet Information
ScheduleOfLeasesSupplementalBalanceSheetInformation
<table cellpadding="0" cellspacing="0" id="xdx_891_ecustom--ScheduleOfLeasesSupplementalBalanceSheetInformation_zSVJvkZaruN1" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Leases (Details)"> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; text-indent: -10pt; padding-left: 10pt"><span id="xdx_8B5_zohrLtCABDDk" style="display: none">Schedule of leases supplemental balance sheet information</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NCLimitedLiabilityCompanyMember_zZxNHftSy0hc" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49D_20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NCLimitedLiabilityCompanyMember_zrVWC6xIx1Mh" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"><span style="display: none"/></td><td> </td> <td colspan="3" style="text-align: center">December 31,</td><td> </td> <td colspan="3" style="text-align: center">December 31,</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">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_d0_zlxXj4ipVwH6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 56%; text-align: left; text-indent: -10pt; padding-left: 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">162,069</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">—</td><td style="width: 1%; text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </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="text-align: left; text-indent: -10pt; padding-left: 10pt"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_49B_20221231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NCLimitedLiabilityCompanyMember_zOvXesj4vRf7" style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_496_20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--NCLimitedLiabilityCompanyMember_zzT7CjAihfR6" style="text-align: center"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td> </td> <td colspan="3" style="text-align: center">December 31,</td><td> </td> <td colspan="3" style="text-align: center">December 31,</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">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_409_eus-gaap--OperatingLeaseLiabilityAbstract_iB_z2SpAfKBjRIh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; text-indent: -10pt; padding-left: 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_404_eus-gaap--OperatingLeaseLiabilityCurrent_iI_pp0p0_d0_z9nTJJ2JlXi4" style="vertical-align: bottom; background-color: White"> <td style="width: 56%; text-align: left; text-indent: -10pt; padding-left: 10pt">Current portion</td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">86,245</td><td style="width: 1%; text-align: left"> </td><td style="width: 8%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">—</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseLiabilityNoncurrent_iI_pp0p0_d0_zRSrMSsGWg8b" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; text-indent: -10pt; padding-left: 10pt">Non-current portion</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">68,532</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">—</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--OperatingLeaseLiability_iI_pp0p0_d0_zFL7dBBmdpib" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt; text-indent: -10pt; padding-left: 10pt">Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">154,777</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">—</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table>
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
4.61
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P8Y9M3D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
635542 shares
CY2022Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
333976 usd
CY2021Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
185402 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
47607 usd
CY2021Q4 us-gaap Interest Payable Current
InterestPayableCurrent
33852 usd
CY2022Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
20000 usd
CY2021Q4 us-gaap Accrued Bonuses Current
AccruedBonusesCurrent
30000 usd
CY2022Q4 us-gaap Accrued Exchange Fee Rebate Current
AccruedExchangeFeeRebateCurrent
15000 usd
CY2021Q4 us-gaap Accrued Exchange Fee Rebate Current
AccruedExchangeFeeRebateCurrent
60000 usd
CY2022Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
89500 usd
CY2021Q4 us-gaap Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
10225 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
64601 usd
CY2021Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
62335 usd
CY2022Q4 us-gaap Accrued Liabilities For Commissions Expense And Taxes
AccruedLiabilitiesForCommissionsExpenseAndTaxes
577712 usd
CY2021Q4 us-gaap Accrued Liabilities For Commissions Expense And Taxes
AccruedLiabilitiesForCommissionsExpenseAndTaxes
0 usd
CY2022Q4 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
92373 usd
CY2021Q4 us-gaap Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
75000 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
1240769 usd
CY2021Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
456814 usd
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
683500 shares
CY2022 us-gaap Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Dividend Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedDividendRate
0.000 pure
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0 usd
CY2022Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
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