Annual report pursuant to Section 13 and 15(d)

Balance Sheets

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Balance Sheets - USD ($)
$ in Thousands
Dec. 31, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 211 $ 5,101
Accounts receivable 2,230 4,243
Employee retention credit receivable 2,000 2,000
Inventories, net 15,460 9,017
Prepaid expenses 2,629 4,006
Income taxes receivable 787 787
Total current assets 23,317 25,154
Other assets:    
Operating lease right-of-use assets, net 240 914
Property and equipment, net 538 1,019
Deposits 93 93
Total assets 24,188 27,180
Current liabilities    
Accounts payable 230 328
Customer deposits 2,126 897
Accrued liabilities and other current liabilities 1,231 1,206
Current portion of operating lease liabilities 268 721
Current portion of notes payable 211 242
Line of credit 1,884
Total current liabilities 5,950 3,394
Notes payable, net of current portion 57 268
Operating lease liabilities, net of current portion 268
Total liabilities 6,007 3,930
Commitments and Contingencies
Stockholders’ Equity    
Preferred stock, $0.0001 par value, 5,000,000 shares authorized, no shares issued and outstanding
Common stock, $0.0001 par value, 50,000,000 shares authorized, 12,967,027 shares issued and 12,949,550 shares outstanding on December 31, 2022, and 12,805,680 shares issued and 12,788,203 shares outstanding on December 31, 2021 1 1
Additional paid-in capital 37,331 36,816
Accumulated deficit (19,111) (13,527)
Treasury Stock, at cost (17,477 shares) (40) (40)
Total stockholders’ equity 18,181 23,250
Total liabilities and stockholders’ equity $ 24,188 $ 27,180