Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

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Condensed Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 212 $ 549
Accounts receivable 1,282 1,676
Inventories 16,221 16,522
Prepaid expenses 444 455
Employee retention credit receivable 2,000 2,000
Income taxes receivable 787 787
Total current assets 20,946 21,989
Other assets:    
Operating lease right-of-use assets 2,530 2,818
Property and equipment, net 278 344
Deposits 108 108
Total assets 23,862 25,259
Current liabilities    
Accounts payable 1,194 1,762
Customer deposits 2,545 1,618
Accrued liabilities and other current liabilities 1,131 1,151
Line of credit 4,914 4,238
Current portion of operating lease liabilities 1,197 1,124
Total current liabilities 11,278 10,214
Operating lease liabilities, net of current portion 1,537 1,856
Total liabilities 12,815 12,070
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, 17,579,089 shares issued and 17,561,612 shares outstanding on March 31, 2024, and December 31, 2023 2 2
Additional paid-in capital 38,886 38,886
Accumulated deficit (27,801) (25,659)
Treasury Stock, at cost (17,477 shares) (40) (40)
Total stockholders’ equity 11,047 13,189
Total liabilities and stockholders’ equity 23,862 25,259
Related Party [Member]    
Current liabilities    
Notes payable 257 257
Nonrelated Party [Member]    
Current liabilities    
Notes payable $ 40 $ 64