Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

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Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 119 $ 211
Accounts receivable 3,216 2,230
Inventories, net 16,875 15,460
Prepaid expenses 1,852 2,629
Employee retention credit receivable 2,000 2,000
Income taxes receivable 787 787
Total current assets 24,849 23,317
Other assets:    
Operating lease right-of-use assets, net 2,436 240
Property and equipment, net 421 538
Deposits 93 93
Total assets 27,799 24,188
Current liabilities    
Accounts payable 1,024 230
Customer deposits 2,769 2,126
Accrued liabilities and other current liabilities 1,256 1,231
Current portion of operating lease liabilities 738 268
Current portion of notes payable 172 211
Line of credit 3,010 1,884
Total current liabilities 8,969 5,950
Notes payable, net of current portion 33 57
Operating lease liabilities, net of current portion 1,729
Total liabilities 10,731 6,007
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 March 31, 2023, and 12,967,027 shares issued and 12,949,550 shares outstanding on December 31, 2022 1 1
Additional paid-in capital 37,331 37,331
Accumulated deficit (20,224) (19,111)
Treasury Stock, at cost (17,477 shares) (40) (40)
Total stockholders’ equity 17,068 18,181
Total liabilities and stockholders’ equity $ 27,799 $ 24,188