Quarterly report pursuant to Section 13 or 15(d)

Condensed Balance Sheets

v3.24.3
Condensed Balance Sheets - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 498 $ 549
Accounts receivable 2,949 1,676
Inventories 15,029 16,522
Prepaid expenses 171 455
Employee retention credit receivable 2,000
Income taxes receivable 787
Total current assets 18,647 21,989
Other assets:    
Operating lease right-of-use assets, net 1,944 2,818
Property and equipment, net 217 344
Deposits 108 108
Total assets 20,916 25,259
Current liabilities    
Accounts payable 346 1,762
Customer deposits 750 1,618
Accrued liabilities and other current liabilities 1,171 1,151
Line of credit 4,661 4,238
Operating lease liabilities, current portion 1,322 1,124
Total current liabilities 8,515 10,214
Operating lease liabilities, net of current portion 840 1,856
Total liabilities 9,355 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 September 30, 2024, and December 31, 2023 2 2
Additional paid-in capital 38,886 38,886
Accumulated deficit (27,287) (25,659)
Treasury Stock, at cost (17,477 shares) (40) (40)
Total stockholders’ equity 11,561 13,189
Total liabilities and stockholders’ equity 20,916 25,259
Related Party [Member]    
Current liabilities    
Notes payable 265 257
Nonrelated Party [Member]    
Current liabilities    
Notes payable $ 64