2023 Q2 Form 10-Q Financial Statement
#000173112223000946 Filed on May 15, 2023
Income Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
Revenue | $8.125M | $8.877M | $5.886M |
YoY Change | -4.64% | 50.82% | 83.5% |
Cost Of Revenue | $5.864M | $5.655M | $3.452M |
YoY Change | 15.61% | 63.85% | 100.71% |
Gross Profit | $2.260M | $3.222M | $2.434M |
YoY Change | -34.43% | 32.35% | 63.61% |
Gross Profit Margin | 27.82% | 36.29% | 41.36% |
Selling, General & Admin | $914.4K | $1.023M | $682.3K |
YoY Change | 43.39% | 49.88% | 127.88% |
% of Gross Profit | 40.45% | 31.74% | 28.03% |
Research & Development | $261.5K | $702.6K | $221.5K |
YoY Change | 49.58% | 217.16% | |
% of Gross Profit | 11.57% | 21.81% | 9.1% |
Depreciation & Amortization | $284.6K | $218.3K | $80.09K |
YoY Change | 137.5% | 172.54% | 72.16% |
% of Gross Profit | 12.59% | 6.78% | 3.29% |
Operating Expenses | $5.305M | $5.591M | $3.483M |
YoY Change | 35.35% | 60.56% | 161.23% |
Operating Profit | -$3.044M | -$2.370M | -$1.048M |
YoY Change | 544.99% | 126.07% | -777.27% |
Interest Expense | $194.4K | $213.0K | -$125.3K |
YoY Change | -613.34% | -269.95% | 607.79% |
% of Operating Profit | |||
Other Income/Expense, Net | $1.140M | $541.1K | -$143.2K |
YoY Change | -1807.23% | -477.93% | 527.55% |
Pretax Income | -$1.904M | -$1.828M | -$1.191M |
YoY Change | 253.34% | 53.48% | -1002.86% |
Income Tax | |||
% Of Pretax Income | |||
Net Earnings | -$1.904M | -$1.828M | -$1.191M |
YoY Change | 253.34% | 53.48% | -1002.86% |
Net Earnings / Revenue | -23.43% | -20.6% | -20.24% |
Basic Earnings Per Share | -$0.14 | -$0.12 | |
Diluted Earnings Per Share | -$0.14 | -$0.12 | -$170.2K |
COMMON SHARES | |||
Basic Shares Outstanding | 9.520M shares | 9.520M shares | 7.000M shares |
Diluted Shares Outstanding | 9.520M shares | 9.520M shares |
Balance Sheet
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
SHORT-TERM ASSETS | |||
Cash & Short-Term Investments | $28.28M | $23.46M | $14.89M |
YoY Change | 186.88% | 57.54% | 1258.11% |
Cash & Equivalents | $26.34M | $21.02M | $5.061M |
Short-Term Investments | $1.947M | $2.435M | $9.828M |
Other Short-Term Assets | $454.8K | $618.6K | $1.042M |
YoY Change | -39.79% | -40.62% | 684.46% |
Inventory | $5.576M | $4.797M | $3.213M |
Prepaid Expenses | |||
Receivables | $570.1K | $625.3K | $5.019K |
Other Receivables | $0.00 | $0.00 | $286.9K |
Total Short-Term Assets | $33.94M | $28.56M | $12.61M |
YoY Change | 175.47% | 126.51% | 388.56% |
LONG-TERM ASSETS | |||
Property, Plant & Equipment | $9.556M | $6.154M | $3.433M |
YoY Change | 119.04% | 79.26% | -4.52% |
Goodwill | |||
YoY Change | |||
Intangibles | |||
YoY Change | |||
Long-Term Investments | $947.8K | $942.7K | $2.980M |
YoY Change | -67.88% | -68.36% | |
Other Assets | $47.52K | $32.52K | $25.00K |
YoY Change | 90.08% | 30.08% | 0.0% |
Total Long-Term Assets | $11.64M | $8.341M | $7.896M |
YoY Change | 33.85% | 5.64% | 118.08% |
TOTAL ASSETS | |||
Total Short-Term Assets | $33.94M | $28.56M | $12.61M |
Total Long-Term Assets | $11.64M | $8.341M | $7.896M |
Total Assets | $45.58M | $36.90M | $20.50M |
YoY Change | 116.85% | 79.96% | 230.63% |
SHORT-TERM LIABILITIES | |||
YoY Change | |||
Accounts Payable | $2.465M | $2.716M | $1.969M |
YoY Change | 8.97% | 37.91% | 111.96% |
Accrued Expenses | $1.192M | $629.2K | $660.0K |
YoY Change | 74.51% | -4.67% | 15.49% |
Deferred Revenue | $182.3K | $5.800K | $200.00 |
YoY Change | -65.73% | 2800.0% | |
Short-Term Debt | $0.00 | $0.00 | $0.00 |
YoY Change | |||
Long-Term Debt Due | $178.7K | $16.83K | |
YoY Change | |||
Total Short-Term Liabilities | $4.512M | $3.854M | $3.123M |
YoY Change | 13.48% | 23.43% | 65.12% |
LONG-TERM LIABILITIES | |||
Long-Term Debt | $3.213M | $572.6K | $499.9K |
YoY Change | 542.69% | 14.55% | -54.89% |
Other Long-Term Liabilities | $667.2K | $793.6K | $1.146M |
YoY Change | -36.33% | -30.76% | -24.64% |
Total Long-Term Liabilities | $3.880M | $1.366M | $1.646M |
YoY Change | 150.69% | -17.0% | -37.39% |
TOTAL LIABILITIES | |||
Total Short-Term Liabilities | $4.512M | $3.854M | $3.123M |
Total Long-Term Liabilities | $3.880M | $1.366M | $1.646M |
Total Liabilities | $8.392M | $5.220M | $4.769M |
YoY Change | 51.93% | 9.47% | 5.5% |
SHAREHOLDERS EQUITY | |||
Retained Earnings | -$9.656M | -$8.322M | -$3.209M |
YoY Change | 157.66% | 159.33% | |
Common Stock | $9.520K | $9.520K | $7.000K |
YoY Change | 36.0% | 36.0% | |
Preferred Stock | |||
YoY Change | |||
Treasury Stock (at cost) | |||
YoY Change | |||
Treasury Stock Shares | |||
Shareholders Equity | $27.27M | $27.75M | $15.73M |
YoY Change | |||
Total Liabilities & Shareholders Equity | $45.58M | $36.90M | $20.50M |
YoY Change | 116.85% | 79.96% | 230.63% |
Cashflow Statement
Concept | 2023 Q2 | 2023 Q1 | 2022 Q1 |
---|---|---|---|
OPERATING ACTIVITIES | |||
Net Income | -$1.904M | -$1.828M | -$1.191M |
YoY Change | 253.34% | 53.48% | -1002.86% |
Depreciation, Depletion And Amortization | $284.6K | $218.3K | $80.09K |
YoY Change | 137.5% | 172.54% | 72.16% |
Cash From Operating Activities | -$1.197M | -$2.233M | -$1.150M |
YoY Change | 2470.74% | 94.2% | -705.42% |
INVESTING ACTIVITIES | |||
Capital Expenditures | $879.9K | $744.0K | $728.4K |
YoY Change | -181.38% | 2.15% | 64.33% |
Acquisitions | |||
YoY Change | |||
Other Investing Activities | $467.2K | $501.0K | $80.52K |
YoY Change | -76.66% | 522.21% | |
Cash From Investing Activities | -$412.7K | -$243.0K | -$647.9K |
YoY Change | -144.81% | -62.49% | 46.16% |
FINANCING ACTIVITIES | |||
Cash Dividend Paid | |||
YoY Change | |||
Common Stock Issuance & Retirement, Net | |||
YoY Change | |||
Debt Paid & Issued, Net | |||
YoY Change | |||
Cash From Financing Activities | 6.925M | -$2.835K | -$116.4K |
YoY Change | -27535.54% | -97.56% | -125.42% |
NET CHANGE | |||
Cash From Operating Activities | -1.197M | -$2.233M | -$1.150M |
Cash From Investing Activities | -412.7K | -$243.0K | -$647.9K |
Cash From Financing Activities | 6.925M | -$2.835K | -$116.4K |
Net Change In Cash | 5.315M | -$2.478M | -$1.914M |
YoY Change | 525.88% | 29.5% | -1035.84% |
FREE CASH FLOW | |||
Cash From Operating Activities | -$1.197M | -$2.233M | -$1.150M |
Capital Expenditures | $879.9K | $744.0K | $728.4K |
Free Cash Flow | -$2.077M | -$2.977M | -$1.878M |
YoY Change | -300.8% | 58.5% | 641.28% |
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|
38231480 | usd |
CY2023Q1 | us-gaap |
Revenues
Revenues
|
8877215 | usd |
CY2022Q1 | us-gaap |
Revenues
Revenues
|
5886000 | usd |
CY2023Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
5655385 | usd |
CY2022Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
3451646 | usd |
CY2023Q1 | us-gaap |
Gross Profit
GrossProfit
|
3221830 | usd |
CY2022Q1 | us-gaap |
Gross Profit
GrossProfit
|
2434354 | usd |
CY2023Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
1022690 | usd |
CY2022Q1 | us-gaap |
Selling General And Administrative Expense
SellingGeneralAndAdministrativeExpense
|
682321 | usd |
CY2023Q1 | us-gaap |
Salaries And Wages
SalariesAndWages
|
3350022 | usd |
CY2022Q1 | us-gaap |
Salaries And Wages
SalariesAndWages
|
2253810 | usd |
CY2023Q1 | us-gaap |
Professional Fees
ProfessionalFees
|
297717 | usd |
CY2022Q1 | us-gaap |
Professional Fees
ProfessionalFees
|
244739 | usd |
CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
218276 | usd |
CY2022Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
80092 | usd |
CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
702648 | usd |
CY2022Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
221545 | usd |
CY2023Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
5591353 | usd |
CY2022Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
3482507 | usd |
CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2369523 | usd |
CY2022Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-1048153 | usd |
CY2023Q1 | us-gaap |
Dividend Income Operating
DividendIncomeOperating
|
234510 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
-611553 | usd |
CY2022Q1 | us-gaap |
Other Income
OtherIncome
|
598 | usd |
CY2023Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-51938 | usd |
CY2022Q1 | us-gaap |
Interest Income Expense Net
InterestIncomeExpenseNet
|
-39840 | usd |
CY2023Q1 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
22430 | usd |
CY2022Q1 | us-gaap |
Interest And Other Income
InterestAndOtherIncome
|
24 | usd |
CY2022Q1 | us-gaap |
Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
|
-18408 | usd |
CY2023Q1 | tvpc |
Net Change In Fair Value Of Marketable Securities
NetChangeInFairValueOfMarketableSecurities
|
8034 | usd |
CY2022Q1 | tvpc |
Net Change In Fair Value Of Marketable Securities
NetChangeInFairValueOfMarketableSecurities
|
-85538 | usd |
CY2023Q1 | tvpc |
Employee Retention Credit Income
EmployeeRetentionCreditIncome
|
329573 | usd |
CY2023Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
541058 | usd |
CY2022Q1 | us-gaap |
Nonoperating Income Expense
NonoperatingIncomeExpense
|
-143164 | usd |
CY2023Q1 | us-gaap |
Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
|
-1828465 | usd |
CY2022Q1 | us-gaap |
Income Loss From Continuing Operations Before Interest Expense Interest Income Income Taxes Extraordinary Items Noncontrolling Interests Net
IncomeLossFromContinuingOperationsBeforeInterestExpenseInterestIncomeIncomeTaxesExtraordinaryItemsNoncontrollingInterestsNet
|
-1191317 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1828465 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1191317 | usd |
CY2023Q1 | us-gaap |
Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
|
-661693 | usd |
CY2023Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1166772 | usd |
CY2022Q1 | us-gaap |
Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
|
-1191317 | usd |
CY2023Q1 | tvpc |
Basic And Dilutive Loss Income Per Share Of Common Stock
BasicAndDilutiveLossIncomePerShareOfCommonStock
|
-0.19 | |
CY2022Q1 | tvpc |
Basic And Dilutive Loss Income Per Share Of Common Stock
BasicAndDilutiveLossIncomePerShareOfCommonStock
|
-0.17 | |
CY2023Q1 | tvpc |
Weighted Average Number Of Shares Of Common Stock Outstanding
WeightedAverageNumberOfSharesOfCommonStockOutstanding
|
9520000 | shares |
CY2022Q1 | tvpc |
Weighted Average Number Of Shares Of Common Stock Outstanding
WeightedAverageNumberOfSharesOfCommonStockOutstanding
|
7000000 | shares |
CY2021Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
16699700 | usd |
CY2022Q1 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
|
224832 | usd |
CY2022Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-1191317 | usd |
CY2022Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
15733215 | usd |
CY2022Q4 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
33020889 | usd |
CY2023Q1 | us-gaap |
Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Purchase Program Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockPurchaseProgramRequisiteServicePeriodRecognition
|
482964 | usd |
CY2023Q1 | us-gaap |
Profit Loss
ProfitLoss
|
-1828465 | usd |
CY2023Q1 | us-gaap |
Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
|
31675388 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1828465 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1191317 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
482964 | usd |
CY2022Q1 | us-gaap |
Share Based Compensation
ShareBasedCompensation
|
224832 | usd |
CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
218276 | usd |
CY2022Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
80092 | usd |
CY2022Q1 | us-gaap |
Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
|
-18408 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
|
118206 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Operating Liabilities
IncreaseDecreaseInOperatingLiabilities
|
93106 | usd |
CY2023Q1 | tvpc |
Net Change In Fair Value Of Marketable Securities
NetChangeInFairValueOfMarketableSecurities
|
8034 | usd |
CY2022Q1 | tvpc |
Net Change In Fair Value Of Marketable Securities
NetChangeInFairValueOfMarketableSecurities
|
-85538 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
611163 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
|
-118 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
788455 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Inventories
IncreaseDecreaseInInventories
|
1413413 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-263842 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
|
-83888 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
650441 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
|
768632 | usd |
CY2023Q1 | us-gaap |
Advertising Expense
AdvertisingExpense
|
125039 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Accrued Liabilities
IncreaseDecreaseInAccruedLiabilities
|
203224 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-119209 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
|
-88881 | usd |
CY2023Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
500 | usd |
CY2022Q1 | us-gaap |
Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
|
-13900 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-2232650 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
|
-1149673 | usd |
CY2023Q1 | tvpc |
Net Sales Purchases Of Investment In Trading Marketable Securities
NetSalesPurchasesOfInvestmentInTradingMarketableSecurities
|
501001 | usd |
CY2022Q1 | tvpc |
Net Sales Purchases Of Investment In Trading Marketable Securities
NetSalesPurchasesOfInvestmentInTradingMarketableSecurities
|
516 | usd |
CY2022Q1 | us-gaap |
Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
|
80000 | usd |
CY2023Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
744008 | usd |
CY2022Q1 | us-gaap |
Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
|
728371 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-243007 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
|
-647855 | usd |
CY2022Q1 | us-gaap |
Deferred Finance Costs Ownshare Lending Arrangement Issuance Costs Adjustment
DeferredFinanceCostsOwnshareLendingArrangementIssuanceCostsAdjustment
|
116394 | usd |
CY2023Q1 | us-gaap |
Finance Lease Principal Payments
FinanceLeasePrincipalPayments
|
2835 | usd |
CY2023Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-2835 | usd |
CY2022Q1 | us-gaap |
Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
|
-116394 | usd |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-2478492 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
|
-1913922 | 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 |
CY2023Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
21022515 | usd |
CY2022Q1 | us-gaap |
Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
|
5061380 | usd |
CY2023Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
59895 | usd |
CY2022Q1 | us-gaap |
Interest Paid Net
InterestPaidNet
|
38647 | usd |
CY2023Q1 | tvpc |
Finance Lease
FinanceLease
|
92405 | usd |
CY2022Q1 | us-gaap |
Advertising Expense
AdvertisingExpense
|
14927 | usd |
CY2023Q1 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
5800 | usd |
CY2022Q4 | us-gaap |
Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
|
5300 | usd |
CY2023Q1 | us-gaap |
Use Of Estimates
UseOfEstimates
|
<p id="xdx_849_eus-gaap--UseOfEstimates_zSohr7jpThTg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86F_zayyxfJlDFq7">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 condensed 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 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> | |
CY2023Q1 | us-gaap |
Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
|
<p id="xdx_845_eus-gaap--ConcentrationRiskCreditRisk_zPop8G6Faf8k" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i><span id="xdx_86C_zpiouomB94i5">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_901_eus-gaap--CashFDICInsuredAmount_c20230331_pp0p0" title="FDIC insured limit">250,000</span> are at risk. As of March 31, 2023 and December 31, 2022, the Company had $<span id="xdx_901_eus-gaap--CashUninsuredAmount_c20230331_pp0p0" title="FDIC uninsured amount">19,916,065</span> and $<span id="xdx_900_eus-gaap--CashUninsuredAmount_c20221231_pp0p0" title="FDIC uninsured amount">22,666,301</span>, respectively, in excess of FDIC insured limits.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> | |
CY2023Q1 | us-gaap |
Cash Fdic Insured Amount
CashFDICInsuredAmount
|
250000 | usd |
CY2023Q1 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
19916065 | usd |
CY2022Q4 | us-gaap |
Cash Uninsured Amount
CashUninsuredAmount
|
22666301 | usd |
CY2023Q1 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
21022515 | usd |
CY2022Q4 | us-gaap |
Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
|
23501007 | usd |
CY2023Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
200000 | usd |
CY2023Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
702648 | usd |
CY2022Q1 | us-gaap |
Research And Development Expense
ResearchAndDevelopmentExpense
|
221545 | usd |
CY2023Q1 | tvpc |
Shipping And Handling Costs
ShippingAndHandlingCosts
|
185532 | usd |
CY2022Q1 | tvpc |
Shipping And Handling Costs
ShippingAndHandlingCosts
|
27051 | usd |
CY2023Q1 | tvpc |
Accounts Payable Related Party Current
AccountsPayableRelatedPartyCurrent
|
1870425 | usd |
CY2022Q1 | tvpc |
Accounts Payable Related Party Current
AccountsPayableRelatedPartyCurrent
|
1250003 | usd |
CY2023Q1 | tvpc |
Government Grant Income
GovernmentGrantIncome
|
329573 | usd |
CY2023Q1 | us-gaap |
Retention Payable
RetentionPayable
|
0 | usd |
CY2022Q4 | us-gaap |
Retention Payable
RetentionPayable
|
0 | usd |
CY2023Q1 | us-gaap |
Marketable Securities
MarketableSecurities
|
2434551 | usd |
CY2022Q4 | us-gaap |
Marketable Securities
MarketableSecurities
|
2927518 | usd |
CY2023Q1 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
4421539 | usd |
CY2022Q4 | us-gaap |
Inventory Raw Materials
InventoryRawMaterials
|
3406371 | usd |
CY2022Q4 | us-gaap |
Other Inventory In Transit
OtherInventoryInTransit
|
222607 | usd |
CY2023Q1 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
375248 | usd |
CY2022Q4 | us-gaap |
Inventory Work In Process
InventoryWorkInProcess
|
246734 | usd |
CY2022Q4 | us-gaap |
Inventory Finished Goods
InventoryFinishedGoods
|
132620 | usd |
CY2023Q1 | us-gaap |
Inventory Net
InventoryNet
|
4796787 | usd |
CY2022Q4 | us-gaap |
Inventory Net
InventoryNet
|
4008332 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
7430706 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
|
6594293 | usd |
CY2023Q1 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1276667 | usd |
CY2022Q4 | us-gaap |
Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
|
1058391 | usd |
CY2023Q1 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
6154039 | usd |
CY2022Q4 | us-gaap |
Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
|
5535902 | usd |
CY2023Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
218276 | usd |
CY2022Q1 | us-gaap |
Depreciation And Amortization
DepreciationAndAmortization
|
80092 | usd |
CY2023Q1 | us-gaap |
Operating Leases Future Minimum Payments Due Current
OperatingLeasesFutureMinimumPaymentsDueCurrent
|
297675 | usd |
CY2023Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
|
416745 | usd |
CY2023Q1 | us-gaap |
Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
|
437582 | usd |
CY2023Q1 | us-gaap |
Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
|
1152002 | usd |
CY2023Q1 | us-gaap |
Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
|
5973 | usd |
CY2023Q1 | us-gaap |
Operating Lease Liability
OperatingLeaseLiability
|
1146029 | usd |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
|
0.0036 | pure |
CY2023Q1 | us-gaap |
Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
|
P2Y8M1D | |
CY2023Q1 | us-gaap |
Lessee Finance Lease Remaining Lease Term
LesseeFinanceLeaseRemainingLeaseTerm
|
P60M | |
CY2023Q1 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.075 | pure |
CY2023Q1 | us-gaap |
Lessee Finance Lease Remaining Lease Term
LesseeFinanceLeaseRemainingLeaseTerm
|
P60M | |
CY2023Q1 | us-gaap |
Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
|
0.03 | pure |
CY2023Q1 | us-gaap |
Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
|
16831 | usd |
CY2023Q1 | us-gaap |
Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
|
72739 | usd |
CY2023Q1 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
242001 | usd |
CY2022Q4 | us-gaap |
Accrued Salaries Current
AccruedSalariesCurrent
|
333976 | usd |
CY2023Q1 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
40076 | usd |
CY2022Q4 | us-gaap |
Interest Payable Current
InterestPayableCurrent
|
47607 | usd |
CY2023Q1 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
130825 | usd |
CY2022Q4 | us-gaap |
Accrued Bonuses Current
AccruedBonusesCurrent
|
20000 | usd |
CY2022Q4 | us-gaap |
Accrued Exchange Fee Rebate Current
AccruedExchangeFeeRebateCurrent
|
15000 | usd |
CY2023Q1 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
73300 | usd |
CY2021Q3 | us-gaap |
Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
|
7.50 | |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
482964 | usd |
CY2022Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
224832 | usd |
CY2023Q1 | us-gaap |
Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
|
482964 | usd |
CY2022Q4 | us-gaap |
Accrued Professional Fees Current
AccruedProfessionalFeesCurrent
|
89500 | usd |
CY2023Q1 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
32799 | usd |
CY2022Q4 | us-gaap |
Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
|
64601 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities For Commissions Expense And Taxes
AccruedLiabilitiesForCommissionsExpenseAndTaxes
|
577712 | usd |
CY2023Q1 | us-gaap |
Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
|
110215 | usd |
CY2022Q4 | us-gaap |
Extended Product Warranty Accrual
ExtendedProductWarrantyAccrual
|
92373 | usd |
CY2023Q1 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
629216 | usd |
CY2022Q4 | us-gaap |
Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
|
1240769 | usd |
CY2023Q1 | us-gaap |
Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
|
499900 | usd |
CY2023Q1 | us-gaap |
Long Term Debt
LongTermDebt
|
499900 | usd |
CY2023Q1 | us-gaap |
Contractual Obligation
ContractualObligation
|
12519000 | usd |
CY2022Q4 | us-gaap |
Contractual Obligation
ContractualObligation
|
10693000 | usd |
CY2023Q1 | us-gaap |
Operating Lease Expense
OperatingLeaseExpense
|
2200 | usd |
CY2023Q1 | us-gaap |
Restricted Cash
RestrictedCash
|
200000 | usd |
CY2022Q4 | tvpc |
Aggregate Shares
AggregateShares
|
2500000 | shares |
CY2022Q4 | us-gaap |
Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
|
0.001 | |
CY2022Q4 | us-gaap |
Shares Issued Price Per Share
SharesIssuedPricePerShare
|
2.75 | |
CY2022Q4 | us-gaap |
Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
|
6875000 | usd |
CY2022Q4 | us-gaap |
Shares Issued
SharesIssued
|
143750 | shares |
CY2022Q4 | us-gaap |
Share Price
SharePrice
|
3.4375 | |
CY2023Q1 | us-gaap |
Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
|
150000 | shares |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
|
P5Y | |
CY2022 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2021 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
|
0 | pure |
CY2023Q1 | us-gaap |
Share Based Goods And Nonemployee Services Transaction Valuation Method Expected Dividend Rate
ShareBasedGoodsAndNonemployeeServicesTransactionValuationMethodExpectedDividendRate
|
0.000 | pure |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1283571 | shares |
CY2022Q4 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
4.14 | |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
|
P8Y11M12D | |
CY2022 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
2256233 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
|
0 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
|
0 | |
CY2023Q1 | tvpc |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Granted In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsGrantedInPeriodFairValue1
|
0 | usd |
CY2023Q1 | us-gaap |
Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
|
0 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
|
0 | |
CY2023Q1 | tvpc |
Stock Issued During Period Shares Stock Options Expired
StockIssuedDuringPeriodSharesStockOptionsExpired
|
44394 | shares |
CY2023Q1 | tvpc |
Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Expired Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExpiredPrice
|
-5.40 | |
CY2023Q1 | tvpc |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Expired In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExpiredInPeriodFairValue1
|
-101960 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
|
0 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
|
0 | |
CY2023Q1 | tvpc |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Forfeited Canceled In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsForfeitedCanceledInPeriodFairValue1
|
0 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
|
1239177 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
|
4.09 | |
CY2023Q1 | tvpc |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm1
|
P8Y8M19D | |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested In Period Fair Value1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedInPeriodFairValue1
|
2154274 | usd |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
|
679279 | shares |
CY2023Q1 | us-gaap |
Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
|
4.48 | |
CY2023Q1 | us-gaap |
Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
|
P8Y6M25D | |
CY2023Q1 | us-gaap |
Accounts Payable Interest Bearing Current
AccountsPayableInterestBearingCurrent
|
1674884 | usd |
CY2022Q1 | us-gaap |
Accounts Payable Interest Bearing Current
AccountsPayableInterestBearingCurrent
|
1051772 | usd |
CY2023Q1 | us-gaap |
Revenues
Revenues
|
8877215 | usd |
CY2023Q1 | us-gaap |
Cost Of Revenue
CostOfRevenue
|
5655385 | usd |
CY2023Q1 | us-gaap |
Operating Expenses
OperatingExpenses
|
5591353 | usd |
CY2023Q1 | us-gaap |
Operating Income Loss
OperatingIncomeLoss
|
-2369523 | usd |
CY2023Q1 | us-gaap |
Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
|
541058 | usd |
CY2023Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1828465 | usd |
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 Expense
OtherNonoperatingIncomeExpense
|
-143164 | usd |
CY2022Q1 | us-gaap |
Net Income Loss
NetIncomeLoss
|
-1191317 | usd |