Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v3.23.2
Condensed Balance Sheets - USD ($)
$ in Thousands
Jun. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 292 $ 211
Accounts receivable 3,718 2,230
Inventories, net 17,689 15,460
Prepaid expenses 1,050 2,629
Employee retention credit receivable 2,000 2,000
Income taxes receivable 787 787
Total current assets 25,536 23,317
Other assets:    
Operating lease right-of-use assets, net 2,178 240
Property and equipment, net 505 538
Deposits 93 93
Total assets 28,312 24,188
Current liabilities    
Accounts payable 1,429 230
Customer deposits 1,535 2,126
Accrued liabilities and other current liabilities 1,242 1,231
Operating lease liabilities, current portion 717 268
Notes payable, current portion 135 211
Line of credit 4,927 1,884
Total current liabilities 10,145 5,950
Notes payable, net of current portion 8 57
Operating lease liabilities, net of current portion 1,527
Total liabilities 11,680 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 June 30, 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 (20,660) (19,111)
Treasury Stock, at cost (17,477 shares) (40) (40)
Total stockholders’ equity 16,632 18,181
Total liabilities and stockholders’ equity 28,312 24,188
Related Party [Member]    
Current liabilities    
Notes payable, current portion $ 160