$VIDE
VIDEO DISPLAY CORP

2020 Q4 Form 10-Q Financial Statement

#000119312521008791 Filed on January 14, 2021

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q4
Revenue $2.861M $2.292M $1.466M
YoY Change 95.16% -29.0% -64.84%
Cost Of Revenue $1.913M $2.107M $1.201M
YoY Change 59.28% -22.82% -60.93%
Gross Profit $948.0K $185.0K $264.0K
YoY Change 259.09% -62.93% -75.91%
Gross Profit Margin 33.14% 8.07% 18.01%
Selling, General & Admin $1.073M $1.266M $1.008M
YoY Change 6.45% 21.73% -6.06%
% of Gross Profit 113.19% 684.32% 381.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $78.00K $89.00K $56.00K
YoY Change 39.29% 58.93% -5.08%
% of Gross Profit 8.23% 48.11% 21.21%
Operating Expenses $1.073M $1.266M $1.008M
YoY Change 6.45% 21.73% -6.06%
Operating Profit -$125.0K -$1.081M -$743.0K
YoY Change -83.18% 99.45% -3330.43%
Interest Expense $7.000K -$12.00K $11.00K
YoY Change -36.36% 500.0% -150.0%
% of Operating Profit
Other Income/Expense, Net $2.005M $80.00K $115.0K
YoY Change 1643.48% -25.23% 139.58%
Pretax Income $1.880M -$1.001M -$628.0K
YoY Change -399.36% 130.11% -984.51%
Income Tax
% Of Pretax Income
Net Earnings $1.880M -$1.001M -$628.0K
YoY Change -399.36% 130.11% -984.51%
Net Earnings / Revenue 65.71% -43.67% -42.84%
Basic Earnings Per Share $0.32 -$0.17 -$0.11
Diluted Earnings Per Share $0.31 -$0.17 -$0.11
COMMON SHARES
Basic Shares Outstanding 5.878M 5.878M 5.878M
Diluted Shares Outstanding 6.078M 5.878M 5.878M

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $342.0K $429.0K $73.00K
YoY Change 368.49% -25.65% 114.71%
Cash & Equivalents $342.0K $414.0K $73.00K
Short-Term Investments $15.00K
Other Short-Term Assets $218.0K $189.0K $203.0K
YoY Change 7.39% 92.86% 53.79%
Inventory $5.248M $4.373M $3.783M
Prepaid Expenses
Receivables $1.234M $1.449M $455.0K
Other Receivables $20.00K $77.00K $224.0K
Total Short-Term Assets $7.966M $6.723M $4.738M
YoY Change 68.13% 39.19% -27.33%
LONG-TERM ASSETS
Property, Plant & Equipment $1.111M $1.184M $1.287M
YoY Change -13.68% -11.84% -0.54%
Goodwill
YoY Change
Intangibles $280.0K $312.0K
YoY Change
Long-Term Investments
YoY Change
Other Assets $2.000K $2.000K $2.000K
YoY Change 0.0% 0.0% -77.78%
Total Long-Term Assets $2.649M $2.881M $3.061M
YoY Change -13.46% -12.56% 97.99%
TOTAL ASSETS
Total Short-Term Assets $7.966M $6.723M $4.738M
Total Long-Term Assets $2.649M $2.881M $3.061M
Total Assets $10.62M $9.604M $7.799M
YoY Change 36.11% 18.2% -3.31%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.207M $1.415M $1.663M
YoY Change -27.42% 14.3% 15.41%
Accrued Expenses $653.0K $647.0K $348.0K
YoY Change 87.64% 89.18% 0.0%
Deferred Revenue $1.742M $1.325M
YoY Change 777.48%
Short-Term Debt $320.0K $1.369M $129.0K
YoY Change 148.06% -66.41%
Long-Term Debt Due $672.0K $550.0K
YoY Change
Total Short-Term Liabilities $5.222M $200.0M $3.294M
YoY Change 58.53% 7009.85% 15.26%
LONG-TERM LIABILITIES
Long-Term Debt $377.0K $438.0K
YoY Change
Other Long-Term Liabilities $682.0K $849.0K $1.209M
YoY Change -43.59% 12028.57% 3000.0%
Total Long-Term Liabilities $1.059M $1.287M $0.00
YoY Change 18285.71% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $5.222M $200.0M $3.294M
Total Long-Term Liabilities $1.059M $1.287M $0.00
Total Liabilities $6.281M $7.150M $4.522M
YoY Change 38.9% 69.35% 34.7%
SHAREHOLDERS EQUITY
Retained Earnings $13.04M $11.16M $11.99M
YoY Change 8.8% -11.52% -10.74%
Common Stock $7.574M $7.574M $7.572M
YoY Change 0.03% 0.05% 0.13%
Preferred Stock
YoY Change
Treasury Stock (at cost) $16.28M $16.28M $16.28M
YoY Change 0.0% 0.0% 0.0%
Treasury Stock Shares $3.854M $3.854M $3.854M
Shareholders Equity $4.334M $2.454M $3.277M
YoY Change
Total Liabilities & Shareholders Equity $10.62M $9.604M $7.799M
YoY Change 36.11% 18.2% -3.31%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q4
OPERATING ACTIVITIES
Net Income $1.880M -$1.001M -$628.0K
YoY Change -399.36% 130.11% -984.51%
Depreciation, Depletion And Amortization $78.00K $89.00K $56.00K
YoY Change 39.29% 58.93% -5.08%
Cash From Operating Activities -$1.172M -$995.0K -$711.0K
YoY Change 64.84% -1056.73% -17875.0%
INVESTING ACTIVITIES
Capital Expenditures $31.00K -$12.00K $0.00
YoY Change -73.91% -100.0%
Acquisitions
YoY Change
Other Investing Activities $2.054M $2.000K $29.00K
YoY Change 6982.76% -125.0% -80.92%
Cash From Investing Activities $2.085M -$10.00K $29.00K
YoY Change 7089.66% -81.48% -78.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -985.0K 194.0K 196.0K
YoY Change -602.55% -294.0% -259.35%
NET CHANGE
Cash From Operating Activities -1.172M -995.0K -711.0K
Cash From Investing Activities 2.085M -10.00K 29.00K
Cash From Financing Activities -985.0K 194.0K 196.0K
Net Change In Cash -72.00K -811.0K -486.0K
YoY Change -85.19% 1522.0% -3838.46%
FREE CASH FLOW
Cash From Operating Activities -$1.172M -$995.0K -$711.0K
Capital Expenditures $31.00K -$12.00K $0.00
Free Cash Flow -$1.203M -$983.0K -$711.0K
YoY Change 69.2% -755.33% -5178.57%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2020Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
218000
CY2020Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
411000
CY2020Q4 us-gaap Accounts Payable Current
AccountsPayableCurrent
1207000
CY2020Q1 us-gaap Accounts Payable Current
AccountsPayableCurrent
1256000
CY2020Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
653000
CY2020Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
499000
CY2020Q1 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
2338000
CY2020Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2000
CY2020Q1 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
2000
CY2020Q4 us-gaap Assets
Assets
10615000
CY2020Q1 us-gaap Assets
Assets
10519000
CY2020Q4 us-gaap Assets Current
AssetsCurrent
7966000
CY2020Q1 us-gaap Assets Current
AssetsCurrent
7229000
CY2020Q4 us-gaap Contract With Customer Liability Current
ContractWithCustomerLiabilityCurrent
1742000
CY2020Q4 us-gaap Liabilities
Liabilities
6281000
CY2020Q1 us-gaap Liabilities
Liabilities
7057000
CY2020Q4 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
10615000
CY2020Q1 us-gaap Liabilities And Stockholders Equity
LiabilitiesAndStockholdersEquity
10519000
CY2020Q4 us-gaap Liabilities Current
LiabilitiesCurrent
5222000
CY2020Q1 us-gaap Liabilities Current
LiabilitiesCurrent
5966000
CY2020Q4 us-gaap Notes Payable Current
NotesPayableCurrent
100000
CY2020Q1 us-gaap Notes Payable Current
NotesPayableCurrent
100000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
4918000
CY2020Q1 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
6607000
CY2020Q4 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
766000
CY2020Q1 us-gaap Buildings And Improvements Gross
BuildingsAndImprovementsGross
2756000
CY2020Q4 us-gaap Land
Land
0
CY2020Q1 us-gaap Land
Land
154000
CY2020Q4 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
5153000
CY2020Q1 us-gaap Machinery And Equipment Gross
MachineryAndEquipmentGross
4861000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1111000
CY2020Q1 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1270000
CY2020Q4 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
281000
CY2020Q1 us-gaap Additional Paid In Capital Common Stock
AdditionalPaidInCapitalCommonStock
281000
CY2020Q4 us-gaap Common Stock Value
CommonStockValue
7293000
CY2020Q1 us-gaap Common Stock Value
CommonStockValue
7293000
CY2020Q4 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q1 us-gaap Preferred Stock Value
PreferredStockValue
CY2020Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
13042000
CY2020Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
12170000
CY2020Q4 us-gaap Treasury Stock Value
TreasuryStockValue
16282000
CY2020Q1 us-gaap Treasury Stock Value
TreasuryStockValue
16282000
CY2019Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
872000
us-gaap Operating Income Loss
OperatingIncomeLoss
-1431000
us-gaap Operating Income Loss
OperatingIncomeLoss
-1894000
CY2020Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
1880000
CY2019Q4 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-628000
CY2020Q4 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-4000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-1000
us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
-35000
CY2020Q4 us-gaap Investment Income Net
InvestmentIncomeNet
11000
CY2019Q4 us-gaap Investment Income Net
InvestmentIncomeNet
11000
us-gaap Investment Income Net
InvestmentIncomeNet
5000
us-gaap Investment Income Net
InvestmentIncomeNet
12000
CY2020Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
1998000
CY2019Q4 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
104000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
2333000
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
494000
CY2020Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
126000
CY2019Q4 us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
136000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
622000
us-gaap Selling And Marketing Expense
SellingAndMarketingExpense
447000
CY2020Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
947000
CY2019Q4 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
872000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2920000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
2635000
CY2020Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
2861000
CY2019Q4 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
1466000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
8858000
us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
7403000
CY2020Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1913000
CY2019Q4 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
1201000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
6747000
us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
6215000
CY2020Q4 us-gaap Gross Profit
GrossProfit
948000
CY2019Q4 us-gaap Gross Profit
GrossProfit
265000
us-gaap Gross Profit
GrossProfit
2111000
us-gaap Gross Profit
GrossProfit
1188000
CY2020Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-125000
CY2019Q4 us-gaap Operating Income Loss
OperatingIncomeLoss
-743000
us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
-1389000
CY2020Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2019Q4 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
2454000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
3462000
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
3903000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
4661000
CY2020Q4 us-gaap Stockholders Equity
StockholdersEquity
4334000
CY2019Q4 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
2000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
3277000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
5000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
6000
us-gaap Gain Loss On Investments
GainLossOnInvestments
5000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-65000
CY2020Q1 us-gaap Inventory Gross
InventoryGross
5276000
CY2020Q4 us-gaap Inventory Net
InventoryNet
5248000
CY2020Q1 us-gaap Inventory Net
InventoryNet
4480000
us-gaap Notes Reduction
NotesReduction
170000
us-gaap Notes Reduction
NotesReduction
155000
us-gaap Notes Assumed1
NotesAssumed1
170000
us-gaap Notes Assumed1
NotesAssumed1
155000
vide Noncash Investing And Financing Activities Imputed Interest Expense
NoncashInvestingAndFinancingActivitiesImputedInterestExpense
8000
vide Noncash Investing And Financing Activities Imputed Interest Expense
NoncashInvestingAndFinancingActivitiesImputedInterestExpense
22000
vide Noncash Investing And Financing Activities Imputed Interest Income
NoncashInvestingAndFinancingActivitiesImputedInterestIncome
-8000
vide Noncash Investing And Financing Activities Imputed Interest Income
NoncashInvestingAndFinancingActivitiesImputedInterestIncome
-22000
us-gaap Interest Paid Net
InterestPaidNet
1000
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5878000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
813000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-193000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-596000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-2698000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
0
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
2031000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
165000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-502000
CY2020Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
844000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
342000
us-gaap Profit Loss
ProfitLoss
872000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
105000
vide Provision For Inventory Reserves
ProvisionForInventoryReserves
45000
us-gaap Payments To Acquire Investments
PaymentsToAcquireInvestments
47000
CY2020Q4 vide Working Capital Net
WorkingCapitalNet
2744000
CY2020Q1 vide Working Capital Net
WorkingCapitalNet
1263000
CY2020Q4 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
342000
CY2020Q1 us-gaap Cash Cash Equivalents And Short Term Investments
CashCashEquivalentsAndShortTermInvestments
844000
CY2020Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
1482000
CY2020Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
773000
CY2020Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
837000
CY2020Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
1006000
CY2020Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
841000
CY2020Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
796000
CY2020Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
3770000
CY2020Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
3497000
CY2020Q4 us-gaap Inventory Gross
InventoryGross
6089000
us-gaap Interest Paid Net
InterestPaidNet
1000
CY2020Q4 us-gaap Net Income Loss
NetIncomeLoss
1880000
CY2020Q4 vide Earnings Per Share Dilutive Effect Of Stock Options Amount
EarningsPerShareDilutiveEffectOfStockOptionsAmount
0
CY2019Q4 us-gaap Net Income Loss
NetIncomeLoss
-628000
CY2019Q4 vide Earnings Per Share Dilutive Effect Of Stock Options Amount
EarningsPerShareDilutiveEffectOfStockOptionsAmount
0
CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5878000
CY2020Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.32
CY2020Q4 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
200000
CY2020Q4 vide Earnings Per Share Dilutive Effect Of Stock Options
EarningsPerShareDilutiveEffectOfStockOptions
0
CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6078000
CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5878000
CY2019Q4 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.11
CY2019Q4 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
CY2019Q4 vide Earnings Per Share Dilutive Effect Of Stock Options
EarningsPerShareDilutiveEffectOfStockOptions
0
CY2019Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-628000
CY2020Q4 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
1880000
CY2020Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.31
CY2019Q4 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.11
us-gaap Net Income Loss
NetIncomeLoss
872000
vide Earnings Per Share Dilutive Effect Of Stock Options Amount
EarningsPerShareDilutiveEffectOfStockOptionsAmount
0
us-gaap Net Income Loss
NetIncomeLoss
-1389000
vide Earnings Per Share Dilutive Effect Of Stock Options Amount
EarningsPerShareDilutiveEffectOfStockOptionsAmount
0
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5878000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.15
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
200000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6078000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
5878000
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.24
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
0
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-1389000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
5878000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
872000
vide Earnings Per Share Dilutive Effect Of Stock Options
EarningsPerShareDilutiveEffectOfStockOptions
0
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.14
vide Earnings Per Share Dilutive Effect Of Stock Options
EarningsPerShareDilutiveEffectOfStockOptions
0
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.24
CY2020Q4 us-gaap Stock Repurchase Program Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramNumberOfSharesAuthorizedToBeRepurchased
2632500
CY2014Q1 vide Stock Repurchase Program Additional Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramAdditionalNumberOfSharesAuthorizedToBeRepurchased
1500000
CY2020Q4 us-gaap Construction In Progress Gross
ConstructionInProgressGross
110000
CY2020Q1 us-gaap Construction In Progress Gross
ConstructionInProgressGross
106000
CY2020Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1256000
CY2020Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1631000
CY2020Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
280000
CY2020Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
387000
CY2020Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
557000
CY2020Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
682000
CY2020Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1091000
CY2020Q4 vide Pay Check Protection Programme Long Term Debt Currents
PayCheckProtectionProgrammeLongTermDebtCurrents
555000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1227000
vide Proceeds From Pay Check Protection Programm Elong Term Debt
ProceedsFromPayCheckProtectionProgrammElongTermDebt
988000
us-gaap Proceeds From Sale Of Investment Projects
ProceedsFromSaleOfInvestmentProjects
50000
CY2020Q4 vide Pay Check Protection Programme Long Term Debt
PayCheckProtectionProgrammeLongTermDebt
772000
CY2020Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
601000
CY2020Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1283000
CY2020Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
147000
CY2019Q4 us-gaap Operating Lease Cost
OperatingLeaseCost
147000
us-gaap Operating Lease Cost
OperatingLeaseCost
440000
us-gaap Operating Lease Cost
OperatingLeaseCost
440000
us-gaap Short Term Lease Cost
ShortTermLeaseCost
11000
CY2020Q4 us-gaap Operating Lease Payments
OperatingLeasePayments
143000
us-gaap Operating Lease Payments
OperatingLeasePayments
429000
CY2020Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.06
CY2020Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P2Y2M12D
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
147000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
618000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
263000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
190000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
1403000
CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
120000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
36000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Two Years
OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
144000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable In Three Years
OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
12000
CY2020Q4 us-gaap Operating Leases Future Minimum Payments Receivable
OperatingLeasesFutureMinimumPaymentsReceivable
192000
vide Month Of Expiry Of Sublease
MonthOfExpiryOfSublease
2022-03
CY2020Q3 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
200000
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
-4000
us-gaap Other Noncash Income Expense
OtherNoncashIncomeExpense
5000
us-gaap Gain Loss On Disposition Of Assets1
GainLossOnDispositionOfAssets1
1724000
CY2020Q4 us-gaap Stock Repurchase Program Remaining Number Of Shares Authorized To Be Repurchased
StockRepurchaseProgramRemainingNumberOfSharesAuthorizedToBeRepurchased
490186
CY2020Q4 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1234000
CY2020Q1 us-gaap Accounts Receivable Net Current
AccountsReceivableNetCurrent
1305000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
6029000
vide Provision For Inventory Reserves
ProvisionForInventoryReserves
40000
us-gaap Share Based Compensation
ShareBasedCompensation
5000
us-gaap Gain Loss On Investments
GainLossOnInvestments
12000
CY2020Q1 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
7877000
CY2020Q4 vide Pay Check Protection Programme Long Term Debt Non Currents
PayCheckProtectionProgrammeLongTermDebtNonCurrents
217000
CY2020Q4 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
15000
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Current
AllowanceForDoubtfulAccountsReceivableCurrent
9000
CY2020Q4 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
CY2020Q1 us-gaap Preferred Stock No Par Value
PreferredStockNoParValue
CY2020Q4 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q1 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
10000000
CY2020Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q1 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0
CY2020Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q1 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0
CY2020Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
CY2020Q1 us-gaap Common Stock No Par Value
CommonStockNoParValue
CY2020Q4 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2020Q1 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
50000000
CY2020Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9732000
CY2020Q1 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
9732000
CY2020Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5878000
CY2020Q1 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
5878000
CY2020Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
3854000
CY2020Q1 us-gaap Treasury Stock Shares
TreasuryStockShares
3854000
CY2020Q4 us-gaap Operating Expenses
OperatingExpenses
1073000
CY2019Q4 us-gaap Operating Expenses
OperatingExpenses
1008000
us-gaap Operating Expenses
OperatingExpenses
3542000
us-gaap Operating Expenses
OperatingExpenses
3082000
CY2020Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2005000
CY2019Q4 us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
115000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
2303000
us-gaap Nonoperating Income Expense
NonoperatingIncomeExpense
505000
us-gaap Profit Loss
ProfitLoss
-1389000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-13000
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-1304000
us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
372000
us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-276000
us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
-865000
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
621000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-287000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
135000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-123000
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
400000
us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
67000
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
100000
us-gaap Repayments Of Long Term Lines Of Credit
RepaymentsOfLongTermLinesOfCredit
23000
us-gaap Proceeds From Lines Of Credit
ProceedsFromLinesOfCredit
758000
us-gaap Repayments Of Lines Of Credit
RepaymentsOfLinesOfCredit
629000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
73000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-337000
CY2019Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
410000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
73000
us-gaap Description Of New Accounting Pronouncements Not Yet Adopted
DescriptionOfNewAccountingPronouncementsNotYetAdopted
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 3. &#8211; Recent Accounting Pronouncements </div></div></div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Accounting Pronouncements Recently Adopted </div></div></div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;">Effective March&#160;1, 2020 we adopted Accounting Standards Update (&#8220;ASU&#8221;) <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">No.&#160;2018-13,</div> Fair Value Measurement. In August 2018, the FASB issued ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2018-13,&#160;Fair</div> Value Measurement (Topic <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">820-10):</div> Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement&#160;(&#8220;ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2018-13&#8221;),</div> which changes the fair value measurement disclosure requirements of ASC Topic 820,&#160;Fair Value Measurements and Disclosures. Under this ASU, certain disclosure requirements for fair value measurements are eliminated, amended or added. These changes aim to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing the disclosures. The guidance is effective for the Company beginning on March&#160;1, 2020 and prescribes different transition methods for the various provisions. The adoption of ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2018-13</div> did not have a material impact on the Company&#8217;s financial statements and disclosures. </div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Recent Accounting Pronouncements Not Yet Adopted </div></div></div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;">In December 2019, the FASB issued ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2019-12,&#160;Income</div> Taxes (Topic 740): Simplifying the Accounting for Income Taxes&#160;(&#8220;ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2019-12&#8221;),</div> which simplifies the accounting for income taxes by removing certain exceptions related to the approach for intra-period tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new ASU also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates. These changes aim to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing the disclosures. The guidance is effective for the Company beginning on March&#160;1, 2021 and prescribes different transition methods for the various provisions. The Company does not expect the adoption of ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2019-12</div> to have a material impact on its financial statements and related disclosures. </div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;">In June 2016, the FASB issued ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2016-13,</div> Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which requires the measurement and recognition of expected credit losses for financial assets held at amortized cost, including trade receivables. ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2016-13</div> replaces the existing incurred loss impairment model with an expected loss model that requires the use of forward-looking information to calculate credit loss estimates. This guidance is effective for annual reporting periods beginning after December&#160;15, 2022 for smaller reporting companies, with early adoption permitted. Entities will apply the amendments using a modified retrospective approach. The Company does not expect the adoption of ASU <div style="white-space: nowrap; letter-spacing: 0px; top: 0px;;display:inline;">2016-13</div> to have a material impact on its financial statements and related disclosures.<br/></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
dei Entity Central Index Key
EntityCentralIndexKey
0000758743
CY2019Q4 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
200000
CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
185000
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriod
0
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
0
dei Document Type
DocumentType
10-Q
dei Amendment Flag
AmendmentFlag
false
dei Document Period End Date
DocumentPeriodEndDate
2020-11-30
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2021
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q3
dei Entity Registrant Name
EntityRegistrantName
VIDEO DISPLAY CORP
dei Trading Symbol
TradingSymbol
VIDE
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--02-28
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
CY2020Q4 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
331000
dei Entity Shell Company
EntityShellCompany
false
dei Entity Filer Category
EntityFilerCategory
Non-accelerated Filer
dei Entity Emerging Growth Company
EntityEmergingGrowthCompany
false
dei Entity Small Business
EntitySmallBusiness
true
CY2020Q4 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
5878290
dei Entity Interactive Data Current
EntityInteractiveDataCurrent
Yes
dei Security12b Title
Security12bTitle
Common Stock
dei Entity Address Country
EntityAddressCountry
GE
dei Security Exchange Name
SecurityExchangeName
NONE
CY2020Q4 us-gaap Contract With Customer Asset Net Current
ContractWithCustomerAssetNetCurrent
904000
CY2020Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
117000
CY2020Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
27000
CY2020Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
160000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
163000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
168000
vide Increase Decrease In Contract Liabilities
IncreaseDecreaseInContractLiabilities
-45000
CY2020Q3 us-gaap Liabilities Current
LiabilitiesCurrent
200000000
us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
107000
vide Increase Decrease In Contract Assets
IncreaseDecreaseInContractAssets
904000
us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
2028000
vide Proceeds From Marginal Float Borrowings
ProceedsFromMarginalFloatBorrowings
4000
CY2020Q4 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
216000
vide Paycheck Protection Promissory Related Loans
PaycheckProtectionPromissoryRelatedLoans
<div style="font-family: times new roman; font-size: 10pt; margin-top: 18pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Note 5. &#8211; Paycheck Protection Promissory (&#8220;PPP&#8221;) Related Loans </div></div></div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 6pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">On April&#160;13, 2020 our Lexel Imaging subsidiary entered into a $216,200 Paycheck Protection Promissory Note (the &#8220;PPP Loan&#8221;) with the Central Bank and on April&#160;23, 2020, Video Display Corporation entered into a $772,000 PPP Loan with the Renasant Bank. The PPP Loans were made under, and are subject to the terms and conditions of, the PPP which was established under the CARES Act and is administered by the U.S. Small Business Administration. The terms of the loans <div style="letter-spacing: 0px; top: 0px;;display:inline;">were</div> <div style="letter-spacing: 0px; top: 0px;;display:inline;">two</div> years with maturity dates of April&#160;13, 2022 and April&#160;23, 2022 and they contain a fixed annual interest rate of 1.00%. Payments of principle and interest on the PPP Loans <div style="letter-spacing: 0px; top: 0px;;display:inline;">are</div> deferred for the first <div style="letter-spacing: 0px; top: 0px;;display:inline;">six</div> months of the term of the PPP Loans until October&#160;13, 2020 and October&#160;23, 2020, respectively. Principle and interest are payable monthly and may be prepaid by the Company at any time prior to maturity with no prepayment penalties. Under the terms of the CARES Act, recipients can apply for and receive forgiveness for all, or a portion of the loans granted under the PPP. Such forgiveness will be determined, subject to limitations, based on the use of loan proceeds for certain permissible purposes as set forth in the PPP, including, but not limited to, payroll costs, mortgage interest, rent or utility costs (collectively, &#8220;Qualifying Expenses&#8221;), and on the maintenance of employee and compensation levels during a certain time period following the funding of the PPP Loans. </div></div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The Company has used the proceeds of the PPP Loans for Qualifying Expenses. The Company received forgiveness on the Lexel Imaging PPP Loan in November 2020 and therefore has recorded the $216,200 forgiveness of the loan within Other, net income on the condensed consolidated statements of operations for the three and nine months ending November&#160;30, 2020. The forgiveness qualifies as a gain upon debt extinguishment and the related liability was removed from the condensed consolidated balance sheets as of November&#160;30, 2020. In addition, the Company received forgiveness notification on the Video Display PPP Loan for $772,000 in December 2020 which has been disclosed as a subsequent event in Note 12. </div></div> <div style="text-indent: 4%; font-family: times new roman; font-size: 10pt; margin-top: 12pt; margin-bottom: 0pt;"><div style="font-family: &quot;times new roman&quot;; font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">As of November&#160;30, 2020, $555&#160;thousand of the total $772&#160;thousand in Video Display PPP related loan was classified as a current liability on the condensed consolidated balance&#160;sheets. The extinguishment of the loan liability and recording of the forgiveness income will be reflected in fiscal fourth quarter 2021 results for the Video Display PPP loan as forgiveness notification was received after the fiscal third quarter 2021 balance sheet date. </div></div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
CY2020Q4 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
45000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
104000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
104000
CY2020Q4 us-gaap Finance Lease Liability Payments Due Year Four
FinanceLeaseLiabilityPaymentsDueYearFour
78000
CY2020Q4 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
54000
CY2020Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
277000
us-gaap Proceeds From Sale Of Investment Projects
ProceedsFromSaleOfInvestmentProjects
12000

Files In Submission

Name View Source Status
0001193125-21-008791-index-headers.html Edgar Link pending
0001193125-21-008791-index.html Edgar Link pending
0001193125-21-008791.txt Edgar Link pending
0001193125-21-008791-xbrl.zip Edgar Link pending
d14436d10q.htm Edgar Link pending
d14436dex311.htm Edgar Link pending
d14436dex312.htm Edgar Link pending
d14436dex32.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R25.htm Edgar Link pending
R26.htm Edgar Link pending
R27.htm Edgar Link pending
R28.htm Edgar Link pending
R29.htm Edgar Link pending
R3.htm Edgar Link pending
R30.htm Edgar Link pending
R31.htm Edgar Link pending
R32.htm Edgar Link pending
R33.htm Edgar Link pending
R34.htm Edgar Link pending
R35.htm Edgar Link pending
R36.htm Edgar Link pending
R37.htm Edgar Link pending
R38.htm Edgar Link pending
R39.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
vide-20201130.xml Edgar Link completed
vide-20201130.xsd Edgar Link pending
vide-20201130_cal.xml Edgar Link unprocessable
vide-20201130_def.xml Edgar Link unprocessable
vide-20201130_lab.xml Edgar Link unprocessable
vide-20201130_pre.xml Edgar Link unprocessable