Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v3.23.3
Condensed Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 296 $ 211
Accounts receivable 1,582 2,230
Inventories, net 19,155 15,460
Prepaid expenses 942 2,629
Employee retention credit receivable 2,000 2,000
Income taxes receivable 787 787
Total current assets 24,762 23,317
Other assets:    
Operating lease right-of-use assets, net 3,103 240
Property and equipment, net 423 538
Deposits 108 93
Total assets 28,396 24,188
Current liabilities    
Accounts payable 1,988 230
Customer deposits 1,720 2,126
Accrued liabilities and other current liabilities 1,178 1,231
Operating lease liabilities, current portion 1,045 268
Line of credit 5,194 1,884
Total current liabilities 11,446 5,950
Notes payable, net of current portion 57
Operating lease liabilities, net of current portion 2,162
Total liabilities 13,608 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 September 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 (22,504) (19,111)
Treasury Stock, at cost (17,477 shares) (40) (40)
Total stockholders’ equity 14,788 18,181
Total liabilities and stockholders’ equity 28,396 24,188
Related Party [Member]    
Current liabilities    
Notes payable, current portion 233
Nonrelated Party [Member]    
Current liabilities    
Notes payable, current portion $ 88 $ 211