Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Dec. 31, 2022 | Feb. 10, 2023 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001001907 | |
Entity Registrant Name | ASTROTECH Corp | |
Amendment Flag | false | |
Current Fiscal Year End Date | --06-30 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 31, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-34426 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 91-1273737 | |
Entity Address, Address Line One | 2105 Donley Drive, Suite 100 | |
Entity Address, City or Town | Austin | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 78758 | |
City Area Code | 512 | |
Local Phone Number | 485-9530 | |
Title of 12(b) Security | Common Stock, $0.001 par value per share | |
Trading Symbol | ASTC | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 1,692,600 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 | [1] |
Current assets | |||
Cash and cash equivalents | $ 15,889 | $ 26,453 | |
Short-term investments | 30,953 | 26,173 | |
Accounts receivable | 112 | 56 | |
Cost and estimated revenue in excess of billings | 4 | 2 | |
Inventory, net: | |||
Raw materials | 1,012 | 864 | |
Work-in-process | 167 | 136 | |
Finished goods | 318 | 518 | |
Prepaid expenses and other current assets | 979 | 748 | |
Total current assets | 49,434 | 54,950 | |
Property and equipment, net | 1,554 | 1,098 | |
Operating leases, right-of-use assets, net | 336 | 162 | |
Other assets, net | 11 | 11 | |
Total assets | 51,335 | 56,221 | |
Current liabilities | |||
Accounts payable | 301 | 169 | |
Payroll related accruals | 711 | 816 | |
Accrued expenses and other liabilities | 965 | 961 | |
Income tax payable | 1 | 2 | |
Term note payable - related party | 0 | 500 | |
Lease liabilities, current | 291 | 234 | |
Total current liabilities | 2,269 | 2,682 | |
Lease liabilities, net of current portion | 356 | 303 | |
Total liabilities | 2,625 | 2,985 | |
Commitments and contingencies (Note 13) | |||
Stockholders’ equity | |||
Convertible preferred stock, $0.001 par value, 2,500,000 shares authorized; 280,898 shares of Series D issued and outstanding at December 31, 2022 and June 30, 2022 | 0 | 0 | |
Common stock, $0.001 par value, 250,000,000 shares authorized at December 31, 2022 and June 30, 2022; 1,690,450 and 1,685,595 shares issued and outstanding at December 31, 2022 and June 30, 2022, respectively | 190,643 | 190,642 | |
Additional paid-in capital | 80,295 | 79,505 | |
Accumulated deficit | (220,659) | (215,712) | |
Accumulated other comprehensive loss | (1,569) | (1,199) | |
Total stockholders’ equity | 48,710 | 53,236 | |
Total liabilities and stockholders’ equity | $ 51,335 | $ 56,221 | |
[1]The balance sheet at June 30, 2022, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by the United States generally accepted accounting principles for complete financial statements. |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Dec. 31, 2022 | Jun. 30, 2022 | [1] |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |
Preferred stock, shares authorized (in shares) | 2,500,000 | 2,500,000 | |
Preferred stock, shares issued (in shares) | 280,898 | 280,898 | |
Preferred stock, shares outstanding (in shares) | 280,898 | 280,898 | |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 | |
Common stock, shares authorized (in shares) | 250,000,000 | 250,000,000 | |
Common stock, shares issued (in shares) | 1,690,450 | 1,685,595 | |
Common stock, shares outstanding (in shares) | 1,690,450 | 1,685,595 | |
[1]The balance sheet at June 30, 2022, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by the United States generally accepted accounting principles for complete financial statements. |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Revenue | $ 263 | $ 561 | $ 301 | $ 748 |
Cost of revenue | 155 | 441 | 187 | 616 |
Gross profit | 108 | 120 | 114 | 132 |
Operating expenses: | ||||
Selling, general and administrative | 1,558 | 1,728 | 3,200 | 3,154 |
Research and development | 1,364 | 652 | 2,492 | 1,291 |
Total operating expenses | 2,922 | 2,380 | 5,692 | 4,445 |
Loss from operations | (2,814) | (2,260) | (5,578) | (4,313) |
Other income and expense, net | 396 | 80 | 631 | 104 |
Loss from operations before income taxes | (2,418) | (2,180) | (4,947) | (4,209) |
Income tax benefit | 0 | 0 | 0 | 0 |
Net loss | $ (2,418) | $ (2,180) | $ (4,947) | $ (4,209) |
Weighted average common shares outstanding: | ||||
Basic and diluted (in shares) | 1,613 | 1,583 | 1,613 | 1,582 |
Basic and diluted net loss per common share: | ||||
Net loss per common share (in dollars per share) | $ (1.50) | $ (1.38) | $ (3.07) | $ (2.66) |
Other comprehensive loss, net of tax: | ||||
Net loss | $ (2,418) | $ (2,180) | $ (4,947) | $ (4,209) |
Available-for-sale securities: | ||||
Net unrealized losses, net of zero tax expense | (2) | (197) | (370) | (245) |
Total comprehensive loss | $ (2,420) | $ (2,377) | $ (5,317) | $ (4,454) |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Changes in Stockholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Preferred Stock [Member] Series D Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total | |
Balance (in shares) at Jun. 30, 2021 | 281 | 1,648 | |||||
Balance at Jun. 30, 2021 | $ 0 | $ 190,641 | $ 77,971 | $ (207,382) | $ (23) | $ 61,207 | |
Net unrealized losses, net of zero tax expense | 0 | 0 | 0 | 0 | (48) | (48) | |
Stock-based compensation | 0 | 0 | 359 | 0 | 0 | 359 | |
Net loss | 0 | 0 | 0 | (2,029) | 0 | (2,029) | |
Net loss | $ 0 | $ 0 | 0 | (2,029) | 0 | (2,029) | |
Balance (in shares) at Sep. 30, 2021 | 281 | 1,648 | |||||
Balance at Sep. 30, 2021 | $ 0 | $ 190,641 | 78,330 | (209,411) | (71) | 59,489 | |
Balance (in shares) at Jun. 30, 2021 | 281 | 1,648 | |||||
Balance at Jun. 30, 2021 | $ 0 | $ 190,641 | 77,971 | (207,382) | (23) | 61,207 | |
Net unrealized losses, net of zero tax expense | (245) | ||||||
Net loss | (4,209) | ||||||
Net loss | (4,209) | ||||||
Balance (in shares) at Dec. 31, 2021 | 281 | 1,650 | |||||
Balance at Dec. 31, 2021 | $ 0 | $ 190,641 | 78,769 | (211,591) | (268) | 57,551 | |
Balance (in shares) at Sep. 30, 2021 | 281 | 1,648 | |||||
Balance at Sep. 30, 2021 | $ 0 | $ 190,641 | 78,330 | (209,411) | (71) | 59,489 | |
Net unrealized losses, net of zero tax expense | 0 | 0 | 0 | 0 | (197) | (197) | |
Stock-based compensation | $ 0 | $ 0 | 439 | 0 | 0 | 439 | |
Stock-based compensation (in shares) | 0 | 2 | |||||
Net loss | $ 0 | $ 0 | 0 | (2,180) | 0 | (2,180) | |
Net loss | $ 0 | $ 0 | 0 | (2,180) | 0 | (2,180) | |
Balance (in shares) at Dec. 31, 2021 | 281 | 1,650 | |||||
Balance at Dec. 31, 2021 | $ 0 | $ 190,641 | 78,769 | (211,591) | (268) | 57,551 | |
Balance (in shares) at Jun. 30, 2022 | 281 | 1,686 | |||||
Balance at Jun. 30, 2022 | $ 0 | $ 190,642 | 79,505 | (215,712) | (1,199) | 53,236 | [1] |
Net unrealized losses, net of zero tax expense | 0 | 0 | 0 | 0 | (368) | (368) | |
Stock-based compensation | 0 | $ 0 | 387 | 0 | 0 | 387 | |
Stock-based compensation (in shares) | 2 | ||||||
Net loss | 0 | $ 0 | 0 | (2,529) | 0 | (2,529) | |
Net loss | $ 0 | $ 0 | 0 | (2,529) | 0 | (2,529) | |
Balance (in shares) at Sep. 30, 2022 | 281 | 1,688 | |||||
Balance at Sep. 30, 2022 | $ 0 | $ 190,642 | 79,892 | (218,241) | (1,567) | 50,726 | |
Balance (in shares) at Jun. 30, 2022 | 281 | 1,686 | |||||
Balance at Jun. 30, 2022 | $ 0 | $ 190,642 | 79,505 | (215,712) | (1,199) | 53,236 | [1] |
Net unrealized losses, net of zero tax expense | (370) | ||||||
Net loss | (4,947) | ||||||
Net loss | (4,947) | ||||||
Balance (in shares) at Dec. 31, 2022 | 281 | 1,690 | |||||
Balance at Dec. 31, 2022 | $ 0 | $ 190,643 | 80,295 | (220,659) | (1,569) | 48,710 | |
Balance (in shares) at Sep. 30, 2022 | 281 | 1,688 | |||||
Balance at Sep. 30, 2022 | $ 0 | $ 190,642 | 79,892 | (218,241) | (1,567) | 50,726 | |
Net unrealized losses, net of zero tax expense | 0 | 0 | 0 | 0 | (2) | (2) | |
Stock-based compensation | $ 0 | $ 1 | 403 | 0 | 0 | 404 | |
Stock-based compensation (in shares) | 0 | 2 | |||||
Net loss | $ 0 | $ 0 | 0 | (2,418) | 0 | (2,418) | |
Net loss | $ 0 | $ 0 | 0 | (2,418) | 0 | (2,418) | |
Balance (in shares) at Dec. 31, 2022 | 281 | 1,690 | |||||
Balance at Dec. 31, 2022 | $ 0 | $ 190,643 | $ 80,295 | $ (220,659) | $ (1,569) | $ 48,710 | |
[1]The balance sheet at June 30, 2022, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by the United States generally accepted accounting principles for complete financial statements. |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Cash flows from operating activities: | ||
Net loss | $ (4,947) | $ (4,209) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Stock-based compensation | 791 | 798 |
Depreciation and amortization | 199 | 94 |
Changes in assets and liabilities: | ||
Accounts receivable | (56) | (87) |
Cost and estimated revenue in excess of billings | (2) | 0 |
Inventory, net | 21 | 86 |
Accounts payable | 132 | (306) |
Income tax payable | (1) | 0 |
Other assets and liabilities | (392) | 140 |
Net cash used in operating activities | (4,255) | (3,484) |
Cash flows from investing activities: | ||
Purchase of security investments | (5,100) | 0 |
Purchases of property and equipment | (632) | (264) |
Net cash used in investing activities | (5,732) | (264) |
Cash flows from financing activities: | ||
Repayment of related party debt | (500) | (2,000) |
Repayments on lease financing | (77) | (18) |
Net cash used in financing activities | (577) | (2,018) |
Net change in cash and cash equivalents | (10,564) | (5,766) |
Cash and cash equivalents at beginning of period | 26,453 | 35,936 |
Cash and cash equivalents at end of period | 15,889 | 30,170 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 63 | 3 |
Acquisition of equipment through financing lease | 0 | 394 |
Operating right of use assets and associated liabilities | 223 | 0 |
Income taxes paid | $ 1 | $ 0 |
Note 1 - General Information
Note 1 - General Information | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | ( 1 Description of the Company 1984, Basis of Presentation not three six December 31, 2022 not may June 30, 2023 10 June 30, 2022 no Reverse Stock Split December 5, 2022, thirty 30 one 1 No Accounting Pronouncements no Our Business Units Astrotech Technologies, Inc. Astrotech Technologies, Inc. (“ATI”) owns and licenses the Astrotech Mass Spectrometer Technology™ (the “AMS Technology”), the platform mass spectrometry technology originally developed by 1 st “1 st 1 st 1 st Detect Corporation 1 st 1000™, first 1000 1000’s not In order to sell the TRACER 1000 1000 December 31, 2022, 1000 21 14 In the United States, the Company is working with the U.S. Transportation Security Administration (“TSA”) towards air cargo certification. On March 27, 2018, 1000 April 4, 2018, 1000 November 14, 2019, 1000 19 2020, September 9, 2020 1000 19, 1000 AgLAB Inc. AgLAB, an exclusive licensee of ATI for the agriculture market, has developed the AgLAB 1000™ 1000 D2™ During the first 2023, first 1000 D2 BreathTech Corporation BreathTech, an exclusive licensee of ATI for use in breath analysis applications, is developing the BreathTest- 1000™, may 19 may In June 2022, 19 1000 |
Note 2 - Investments
Note 2 - Investments | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Investment [Text Block] | ( 2 The following tables summarize gains and losses related to the Company’s investments as of December 31, 2022 June 30, 2022 December 31, 2022 Available-for-Sale Investments Adjusted Unrealized Unrealized Fair (In thousands) Cost Gain Loss Value Mutual Funds - Corporate & Government Debt $ 19,997 $ — $ (1,071 ) $ 18,926 ETFs - Corporate & Government Debt 7,375 — (463 ) 6,912 Time Deposits 5,150 — (35 ) 5,115 Total $ 32,522 $ — $ (1,569 ) $ 30,953 June 30, 2022 Available-for-Sale Investments Adjusted Unrealized Unrealized Fair (In thousands) Cost Gain Loss Value Mutual Funds - Corporate & Government Debt $ 19,997 $ — $ (806 ) $ 19,191 ETFs - Corporate & Government Debt 7,375 — (393 ) 6,982 Time Deposits — — — — Total $ 27,372 $ — $ (1,199 ) $ 26,173 We have certain financial instruments on our condensed consolidated balance sheets related to interest-bearing time deposits. Time deposits with maturities of less than 90 91 360 360 December 31, 2022 June 30, 2022 no 8. The following table presents the carrying amounts of certain financial instruments as of December 31, 2022 June 30, 2022 Carrying Value Short-Term Investments (In thousands) December 31, 2022 June 30, 2022 Mutual Funds - Corporate & Government Debt $ 18,926 $ 19,191 ETFs - Corporate & Government Debt 6,912 6,982 Time Deposits - Maturities from 91-360 days 5,115 — Total $ 30,953 $ 26,173 |
Note 3 - Leases
Note 3 - Leases | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Lessee, Operating and Finance Leases Disclosure [Text Block] | ( 3 On April 27, 2021, June 1, 2021 November 11, 2022, April 30, 2025. eleven On November 22, 2022, December 1, 2022 Operating lease assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent its obligation to make lease payments arising from the lease. Operating lease assets and liabilities are recognized at the commencement date based on the present value of lease payments over the lease term. As the Company’s leases do not Upon the adoption of Topic 842, The balance sheet presentation of the Company’s operating and finance leases is as follows: (In thousands) Classification on the Condensed Consolidated Balance Sheet December 31, 2022 Assets: Operating lease assets Operating leases, right-of-use assets, net $ 336 Financing lease assets Property and equipment, net 415 Total lease assets $ 751 Liabilities: Current: Operating lease obligations Lease liabilities, current $ 148 Financing lease obligations Lease liabilities, current 143 Non-current: Operating lease obligations Lease liabilities, non-current 216 Financing lease obligations Lease liabilities, non-current 140 Total lease liabilities $ 647 Future minimum lease payments under non-cancellable leases are as follows: (In thousands) For the Year Ended June 30, Operating Leases Financing Leases Total 2023 $ 83 $ 77 $ 160 2024 166 154 320 2025 142 67 209 2026 — — — 2027 — — — Thereafter — — — Total lease obligations 391 298 689 Less: imputed interest 27 15 42 Present value of net minimum lease obligations 364 283 647 Less: lease liabilities - current 148 143 291 Lease liabilities - non-current $ 216 $ 140 $ 356 Other information as of December 31, 2022 Weighted-average remaining lease term (years): Operating leases 2.3 Financing leases 2.0 Weighted-average discount rate: Operating leases 6.3 % Financing leases 5.3 % Cash payments for operating leases for the three December 31, 2022 2021 three December 31, 2022 2021 Cash payments for operating leases for the six December 31, 2022 2021 six December 31, 2022 2021 |
Note 4 - Property and Equipment
Note 4 - Property and Equipment | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | ( 4 As of December 31, 2022 June 30, 2022 (In thousands) December 31, 2022 June 30, 2022 Furniture, fixtures, equipment & leasehold improvements $ 1,981 $ 1,371 Software 217 264 Capital improvements in progress 140 242 Gross property and equipment 2,338 1,877 Accumulated depreciation and amortization (784 ) (779 ) Property and equipment, net $ 1,554 $ 1,098 Depreciation and amortization expense of property and equipment for the three December 31, 2022 2021 six December 31, 2022 2021 |
Note 5 - Stockholders' Equity
Note 5 - Stockholders' Equity | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | ( 5 Equity Common Stock On November 22, 2022, third 1 30 30 one Preferred Stock The Company has issued 280,898 shares of Series D Preferred Shares, all of which are issued and outstanding. Series D Preferred Shares are convertible to common stock on a one thirty not No no Share Repurchase Program On November 9, 2022, November 17, 2022 November 17, 2023. may not may three December 31, 2022. Warrants A summary of the common stock warrant activity for the six December 31, 2022 Number of Shares Underlying Warrants (In thousands) Weighted Average Exercise Price Aggregate Fair Market Value at Issuance (In thousands) Weighted Average Remaining Contractual Term (Years) Outstanding June 30, 2022 80 $ 72.10 $ 3,747 3.60 Warrants issued — — — — Warrants exercised — — — — Warrants expired — — — — Outstanding December 31, 2022 80 $ 72.10 $ 3,747 3.10 The following represents a summary of the warrants outstanding at each of the dates identified: Number of Shares Underlying Warrants (In thousands) Issue Date Classification Exercise Price Expiration Date December 31, 2022 June 30, 2022 March 26, 2020 Equity $ 187.50 March 25, 2025 1 1 March 30, 2020 Equity $ 140.63 March 27, 2025 2 2 October 23, 2020 Equity $ 86.25 October 21, 2025 15 15 October 28, 2020 Equity $ 80.63 October 28, 2025 6 6 February 16, 2021 Equity $ 121.88 February 11, 2026 6 6 April 12, 2021 Equity $ 56.25 April 7, 2026 50 50 Total Outstanding 80 80 Nasdaq Compliance The Reverse Stock Split was primarily intended to bring the Company into compliance with the minimum bid price requirements for maintaining its listing on The Nasdaq Stock Market LLC (“Nasdaq”). On December 19, 2022, 10 5550 2 |
Note 6 - Net Loss Per Share
Note 6 - Net Loss Per Share | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | ( 6 Basic net loss per share is computed on the basis of the weighted average number of shares of common stock outstanding during the period. Diluted net loss per share is computed based on the weighted average number of common shares outstanding plus the effect of potentially dilutive common shares outstanding during the period using the treasury stock method and the if-converted method. Potentially dilutive common shares include outstanding stock options and share-based awards. The following table reconciles the numerators and denominators used in the computations of both basic and diluted net loss per share: Three Months Ended Six Months Ended December 31, December 31, (In thousands, except per share data) 2022 2021 2022 2021 Numerator: Net loss $ (2,418 ) $ (2,180 ) $ (4,947 ) $ (4,209 ) Denominator: Denominator for basic and diluted net loss per share — weighted average common stock outstanding 1,613 1,583 1,613 1,582 Basic and diluted net loss per common share: Net loss per common share $ (1.50 ) $ (1.38 ) $ (3.07 ) $ (2.66 ) All unvested restricted stock awards for the six December 31, 2022 not December 31, 2022 not |
Note 7 - Revenue Recognition
Note 7 - Revenue Recognition | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 7 Astrotech recognizes revenue employing the generally accepted revenue recognition methodologies described under the provisions of Accounting Standards Codification (“ASC”) Topic 606 606” 2019. 606 five five An additional factor is reasonable assurance of collectability. This necessitates deferral of all or a portion of revenue recognition until collection. During the three six December 31, 2022 three 606. Contract Assets and Liabilities. 606 may may Practical Expedients. one one Product Sales. 60 Freight. Multiple Performance Obligations. The standalone selling price for each performance obligation is an amount that depicts the amount of consideration to which the entity expects to be entitled in exchange for transferring the good or service. When there is only one first not The timetable for fulfilment of each of the distinct performance obligations can range from completion in a short amount of time and entirely within a single reporting period to completion over several reporting periods. The timing of revenue recognition for each performance obligation may |
Note 8 - Fair Value Measurement
Note 8 - Fair Value Measurement | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | ( 8 ASC Topic 820 820” 820 The fair value hierarchy established in Topic 820 three Level 1 Level 2 1 not Level 3 no The following tables present the carrying amounts, estimated fair values, and valuation input levels of certain financial instruments as of December 31, 2022 June 30, 2022 December 31, 2022 Carrying Fair Value Measured Using Fair (In thousands) Amount Level 1 Level 2 Level 3 Value Available-for-Sale Investments Short-Term Investments Mutual Funds - Corporate & Government Debt 18,926 18,926 — — 18,926 ETFs - Corporate & Government Debt 6,912 6,912 — — 6,912 Time deposits: 91-360 days 5,115 — 5,115 — 5,115 Total Available-for-Sale Investments $ 30,953 $ 25,838 $ 5,115 $ — $ 30,953 June 30, 2022 Carrying Fair Value Measured Using Fair (In thousands) Amount Level 1 Level 2 Level 3 Value Available-for-Sale Investments Short-Term Investments Mutual Funds - Corporate & Government Debt 19,191 19,191 — — 19,191 ETFs - Corporate & Government Debt 6,982 6,982 — — 6,982 Time deposits: 91-360 days — — — — — Total Available-for-Sale Investments $ 26,173 $ 26,173 $ — $ — $ 26,173 The value of available-for-sale securities with Level 1 third 2 third |
Note 9 - Debt
Note 9 - Debt | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | ( 9 On September 5, 2019, “2019 February 13, 2020, second second “2020 2019 September 5, 2020; August 24, 2020, September 5, 2021 ( In connection with the issuance of the Original Notes, the Company, along with 1 st two September 5, 2019 February 13, 2020 ( On September 3, 2021, 1 2 2020 2020 2019 2019 September 5, 2022 ( In addition, the Subsidiaries jointly and severally agreed to guarantee and act as surety for the Company’s obligation to repay the remaining balance on the 2019 September 5, 2019 February 13, 2020, August 24, 2020 September 3, 2021, September 3, 2021, 2020 2020 On September 5, 2022, 2019 2019 2019 |
Note 10 - Business Risk and Cre
Note 10 - Business Risk and Credit Risk Concentration Involving Cash | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | ( 10 For the three six December 31, 2022 December 31,2021, one The Company maintains funds in bank accounts that may not |
Note 11 - Stock-based Compensat
Note 11 - Stock-based Compensation | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | ( 11 Stock Option Activity Summary The Company’s stock option activity for the six December 31, 2022 Shares Weighted Average Exercise Price Outstanding at June 30, 2022 34,284 $ 40.41 Granted 5,162 13.20 Exercised — — Canceled or expired (2,414 ) 174.08 Outstanding at December 31, 2022 37,032 $ 27.91 The aggregate intrinsic value of options exercisable at December 31, 2022 The table below details the Company’s stock options outstanding as of December 31, 2022 Range of exercise prices Number Outstanding Options Outstanding Weighted-Average Remaining Contractual Life (Years) Weighted-Average Exercise Price Number Exercisable Options Exercisable Weighted-Average Exercise Price $ 13.20 - 19.20 34,361 9.35 $ 18.30 — $ — $ 55.50 - 84.90 431 5.76 62.22 431 62.22 $ 159.00 - 175.50 2,240 4.36 168.82 2,240 168.82 $ 13.20 - 175.50 37,032 9.00 $ 27.91 2,671 $ 151.62 Compensation costs recognized related to stock option awards were $48 thousand and $0 for each of the three December 31, 2022 2021 six December 31, 2022 2021 Restricted Stock The Company’s restricted stock activity for the six December 31, 2022 Shares Weighted Average Grant Date Fair Value Outstanding at June 30, 2022 75,873 $ 39.00 Granted — — Vested — — Canceled or expired (55 ) 60.60 Outstanding at December 31, 2022 75,818 $ 38.93 Stock compensation expenses related to restricted stock were $356 thousand and $439 thousand for the three December 31, 2022 2021 six December 31, 2022 2021 |
Note 12 - Income Taxes
Note 12 - Income Taxes | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | ( 12 The Company accounts for income taxes under the asset and liability method. Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the tax bases of assets and liabilities and their reported amounts. Valuation allowances are established, when necessary, to reduce deferred tax assets to amounts that are more likely than not December 31, 2022 For the three December 31, 2022 2021, six December 31, 2022 2021 three six December 31, 2022 2021. For each of the six December 31, 2022 2021, The Inflation Reduction Act and the Chips and Science Act were enacted in August 2022. no FASB ASC 740, December 31, 2022 not 12 Loss carryovers are generally subject to modification by tax authorities until three 2003 2006 |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | ( 13 The Company is subject to various lawsuits and other claims in the normal course of business. In addition, from time to time, the Company receives communications from government or regulatory agencies concerning investigations or allegations of noncompliance with laws or regulations in jurisdictions in which the Company operates. The Company establishes reserves for the estimated losses on specific contingent liabilities, for regulatory and legal actions where the Company deems a loss to be probable and the amount of the loss can be reasonably estimated. In other instances, the Company is not Litigation, Investigations, and Audits On April 15, 2021, No. 2021 0322 “2020 2020 not 2020 April 30, 2021, No. 2021 0380 205 October 6, 2021, 2020 Further information regarding the Stein Action and the Section 205 14A April 29, 2021. |
Note 14 - Segment Information
Note 14 - Segment Information | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | ( 14 The Company has determined that it does not 280 not |
Note 15 - Impact of COVID-19 Pa
Note 15 - Impact of COVID-19 Pandemic | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Unusual or Infrequent Items, or Both, Disclosure [Text Block] | ( 15 19 To date, the Company has seen delays with respect to the TSA certification process and parts of its supply chain, particularly the impact of the global semiconductor and electronics shortage, which has now resulted in product pricing inflation. In addition, although passenger demand for air travel has rebounded, the overall recovery of the airline industry and ancillary services remains uncertain and is dependent upon, among other things, public health impacts of new COVID- 19 The Company continues to manage production, secure alternative supplies, and take other proactive actions. The Company believes that it will be able to pass the inflation caused by raw materials shortages and increased shipping costs to its customers by increasing the price of its instruments. If supply chain shortages become more severe or longer term in nature, the Company’s business and results of operations could be adversely impacted; however, the Company does not 19 may not CARES Act On March 27, 2020, December 31, 2020, December 31, 2022. The Company will continue to assess the treatment of the CARES Act to the extent additional guidance and regulations are issued, the further applicability of the CARES Act to the Company, and the potential impacts on the business. |
Note 16 - Subsequent Events
Note 16 - Subsequent Events | 6 Months Ended |
Dec. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | ( 16 On January 27, 2023, four five January 27, 2023. not 2021 three January 27, 2024, January 27, 2025, January 27, 2026. 14A September 26, 2022. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Dec. 31, 2022 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation not three six December 31, 2022 not may June 30, 2023 10 June 30, 2022 no |
Reverse Stock Split Policy [Policy Text Block] | Reverse Stock Split December 5, 2022, thirty 30 one 1 No Accounting Pronouncements no |
Segment Reporting, Policy [Policy Text Block] | Our Business Units Astrotech Technologies, Inc. Astrotech Technologies, Inc. (“ATI”) owns and licenses the Astrotech Mass Spectrometer Technology™ (the “AMS Technology”), the platform mass spectrometry technology originally developed by 1 st “1 st 1 st 1 st Detect Corporation 1 st 1000™, first 1000 1000’s not In order to sell the TRACER 1000 1000 December 31, 2022, 1000 21 14 In the United States, the Company is working with the U.S. Transportation Security Administration (“TSA”) towards air cargo certification. On March 27, 2018, 1000 April 4, 2018, 1000 November 14, 2019, 1000 19 2020, September 9, 2020 1000 19, 1000 AgLAB Inc. AgLAB, an exclusive licensee of ATI for the agriculture market, has developed the AgLAB 1000™ 1000 D2™ During the first 2023, first 1000 D2 BreathTech Corporation BreathTech, an exclusive licensee of ATI for use in breath analysis applications, is developing the BreathTest- 1000™, may 19 may In June 2022, 19 1000 |
Note 2 - Investments (Tables)
Note 2 - Investments (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Debt Securities, Available-for-Sale [Table Text Block] | December 31, 2022 Available-for-Sale Investments Adjusted Unrealized Unrealized Fair (In thousands) Cost Gain Loss Value Mutual Funds - Corporate & Government Debt $ 19,997 $ — $ (1,071 ) $ 18,926 ETFs - Corporate & Government Debt 7,375 — (463 ) 6,912 Time Deposits 5,150 — (35 ) 5,115 Total $ 32,522 $ — $ (1,569 ) $ 30,953 June 30, 2022 Available-for-Sale Investments Adjusted Unrealized Unrealized Fair (In thousands) Cost Gain Loss Value Mutual Funds - Corporate & Government Debt $ 19,997 $ — $ (806 ) $ 19,191 ETFs - Corporate & Government Debt 7,375 — (393 ) 6,982 Time Deposits — — — — Total $ 27,372 $ — $ (1,199 ) $ 26,173 Carrying Value Short-Term Investments (In thousands) December 31, 2022 June 30, 2022 Mutual Funds - Corporate & Government Debt $ 18,926 $ 19,191 ETFs - Corporate & Government Debt 6,912 6,982 Time Deposits - Maturities from 91-360 days 5,115 — Total $ 30,953 $ 26,173 |
Note 3 - Leases (Tables)
Note 3 - Leases (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Balance Sheet Presentation of Operating and Finance Leases [Table Text Block] | (In thousands) Classification on the Condensed Consolidated Balance Sheet December 31, 2022 Assets: Operating lease assets Operating leases, right-of-use assets, net $ 336 Financing lease assets Property and equipment, net 415 Total lease assets $ 751 Liabilities: Current: Operating lease obligations Lease liabilities, current $ 148 Financing lease obligations Lease liabilities, current 143 Non-current: Operating lease obligations Lease liabilities, non-current 216 Financing lease obligations Lease liabilities, non-current 140 Total lease liabilities $ 647 |
Lessee, Operating and Financing Leases, Liability, Maturity [Table Text Block] | (In thousands) For the Year Ended June 30, Operating Leases Financing Leases Total 2023 $ 83 $ 77 $ 160 2024 166 154 320 2025 142 67 209 2026 — — — 2027 — — — Thereafter — — — Total lease obligations 391 298 689 Less: imputed interest 27 15 42 Present value of net minimum lease obligations 364 283 647 Less: lease liabilities - current 148 143 291 Lease liabilities - non-current $ 216 $ 140 $ 356 |
Lessee, Operating and Finance Leases, Weighted Average Lease Term And Discount Rate [Table Text Block] | Weighted-average remaining lease term (years): Operating leases 2.3 Financing leases 2.0 Weighted-average discount rate: Operating leases 6.3 % Financing leases 5.3 % |
Note 4 - Property and Equipme_2
Note 4 - Property and Equipment (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | (In thousands) December 31, 2022 June 30, 2022 Furniture, fixtures, equipment & leasehold improvements $ 1,981 $ 1,371 Software 217 264 Capital improvements in progress 140 242 Gross property and equipment 2,338 1,877 Accumulated depreciation and amortization (784 ) (779 ) Property and equipment, net $ 1,554 $ 1,098 |
Note 5 - Stockholders' Equity (
Note 5 - Stockholders' Equity (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Shares Underlying Warrants (In thousands) Weighted Average Exercise Price Aggregate Fair Market Value at Issuance (In thousands) Weighted Average Remaining Contractual Term (Years) Outstanding June 30, 2022 80 $ 72.10 $ 3,747 3.60 Warrants issued — — — — Warrants exercised — — — — Warrants expired — — — — Outstanding December 31, 2022 80 $ 72.10 $ 3,747 3.10 Number of Shares Underlying Warrants (In thousands) Issue Date Classification Exercise Price Expiration Date December 31, 2022 June 30, 2022 March 26, 2020 Equity $ 187.50 March 25, 2025 1 1 March 30, 2020 Equity $ 140.63 March 27, 2025 2 2 October 23, 2020 Equity $ 86.25 October 21, 2025 15 15 October 28, 2020 Equity $ 80.63 October 28, 2025 6 6 February 16, 2021 Equity $ 121.88 February 11, 2026 6 6 April 12, 2021 Equity $ 56.25 April 7, 2026 50 50 Total Outstanding 80 80 |
Note 6 - Net Loss Per Share (Ta
Note 6 - Net Loss Per Share (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended December 31, December 31, (In thousands, except per share data) 2022 2021 2022 2021 Numerator: Net loss $ (2,418 ) $ (2,180 ) $ (4,947 ) $ (4,209 ) Denominator: Denominator for basic and diluted net loss per share — weighted average common stock outstanding 1,613 1,583 1,613 1,582 Basic and diluted net loss per common share: Net loss per common share $ (1.50 ) $ (1.38 ) $ (3.07 ) $ (2.66 ) |
Note 8 - Fair Value Measureme_2
Note 8 - Fair Value Measurement (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block] | December 31, 2022 Carrying Fair Value Measured Using Fair (In thousands) Amount Level 1 Level 2 Level 3 Value Available-for-Sale Investments Short-Term Investments Mutual Funds - Corporate & Government Debt 18,926 18,926 — — 18,926 ETFs - Corporate & Government Debt 6,912 6,912 — — 6,912 Time deposits: 91-360 days 5,115 — 5,115 — 5,115 Total Available-for-Sale Investments $ 30,953 $ 25,838 $ 5,115 $ — $ 30,953 June 30, 2022 Carrying Fair Value Measured Using Fair (In thousands) Amount Level 1 Level 2 Level 3 Value Available-for-Sale Investments Short-Term Investments Mutual Funds - Corporate & Government Debt 19,191 19,191 — — 19,191 ETFs - Corporate & Government Debt 6,982 6,982 — — 6,982 Time deposits: 91-360 days — — — — — Total Available-for-Sale Investments $ 26,173 $ 26,173 $ — $ — $ 26,173 |
Note 11 - Stock-based Compens_2
Note 11 - Stock-based Compensation (Tables) | 6 Months Ended |
Dec. 31, 2022 | |
Notes Tables | |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Shares Weighted Average Exercise Price Outstanding at June 30, 2022 34,284 $ 40.41 Granted 5,162 13.20 Exercised — — Canceled or expired (2,414 ) 174.08 Outstanding at December 31, 2022 37,032 $ 27.91 |
Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block] | Range of exercise prices Number Outstanding Options Outstanding Weighted-Average Remaining Contractual Life (Years) Weighted-Average Exercise Price Number Exercisable Options Exercisable Weighted-Average Exercise Price $ 13.20 - 19.20 34,361 9.35 $ 18.30 — $ — $ 55.50 - 84.90 431 5.76 62.22 431 62.22 $ 159.00 - 175.50 2,240 4.36 168.82 2,240 168.82 $ 13.20 - 175.50 37,032 9.00 $ 27.91 2,671 $ 151.62 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Shares Weighted Average Grant Date Fair Value Outstanding at June 30, 2022 75,873 $ 39.00 Granted — — Vested — — Canceled or expired (55 ) 60.60 Outstanding at December 31, 2022 75,818 $ 38.93 |
Note 1 - General Information (D
Note 1 - General Information (Details Textual) | Dec. 31, 2022 $ / shares | Dec. 05, 2022 $ / shares | Jun. 30, 2022 $ / shares | [1] |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |
Number of Patents Granted | 21 | |||
Number of Additional Patents In Process | 1 | |||
Number of Wholly Owned Subsidiaries | 3 | |||
[1]The balance sheet at June 30, 2022, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by the United States generally accepted accounting principles for complete financial statements. |
Note 2 - Investments - Schedule
Note 2 - Investments - Schedule of Investments (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 |
Debt Securities, Available-for-sale, Adjusted Cost | $ 32,522 | $ 27,372 |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss | (1,569) | (1,199) |
Debt Securities, Available-for-sale, Fair Value | 30,953 | 26,173 |
financial instrument, short-term investments | 30,953 | 26,173 |
Corporate & Government Debt Mutual Funds Securities [Member] | ||
Debt Securities, Available-for-sale, Adjusted Cost | 19,997 | 19,997 |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss | (1,071) | (806) |
Debt Securities, Available-for-sale, Fair Value | 18,926 | 19,191 |
financial instrument, short-term investments | 18,926 | 19,191 |
Corporate & Government Debt ETFs Securities [Member] | ||
Debt Securities, Available-for-sale, Adjusted Cost | 7,375 | 7,375 |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss | (463) | (393) |
Debt Securities, Available-for-sale, Fair Value | 6,912 | 6,982 |
financial instrument, short-term investments | 6,912 | 6,982 |
Interest-bearing Time Deposits [Member] | ||
Debt Securities, Available-for-sale, Adjusted Cost | 5,150 | 0 |
Debt Securities, Available-for-sale, Unrealized Gain | 0 | 0 |
Debt Securities, Available-for-sale, Unrealized Loss | (35) | 0 |
Debt Securities, Available-for-sale, Fair Value | 5,115 | 0 |
financial instrument, short-term investments | $ 5,115 | $ 0 |
Note 3 - Leases (Details Textua
Note 3 - Leases (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | |||||
Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2021 USD ($) | Dec. 01, 2022 USD ($) | Nov. 22, 2022 USD ($) ft² | Apr. 27, 2021 ft² | |
Lessee, Operating Lease, Liability, to be Paid, Total | $ 391 | $ 391 | |||||
Operating Lease, Payments | 31 | $ 25 | 57 | $ 35 | |||
Finance Lease, Principal Payments | $ 38 | $ 15 | $ 77 | $ 18 | |||
Austin, Texas [Member] | Research And Development Facility [Member] | |||||||
Area of Real Estate Property (Square Foot) | ft² | 5,960 | ||||||
Lessee, Operating Lease, Term of Contract (Month) | 36 months | ||||||
Lessee, Operating Lease, Liability, to be Paid, Total | $ 95 | ||||||
Austin, Texas [Member] | Subleased Facility [Member] | |||||||
Area of Real Estate Property (Square Foot) | ft² | 3,900 | ||||||
Lessee, Operating Lease, Term of Contract (Month) | 29 months | ||||||
Lessee, Operating Lease, Liability, to be Paid, Total | $ 156 |
Note 3 - Leases - Schedule of B
Note 3 - Leases - Schedule of Balance Sheet Presentation of Operating and Finance Leases (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 | [1] |
Assets: | |||
Operating lease assets | $ 336 | $ 162 | |
Total lease assets | 751 | ||
Liabilities: | |||
Financing lease obligations | 140 | ||
Total lease liabilities | 647 | ||
Property and Equipment, Net [Member] | |||
Assets: | |||
Financing lease assets | 415 | ||
Lease Liabilities, Current [Member] | |||
Liabilities: | |||
Operating lease obligations | 148 | ||
Financing lease obligations | 143 | ||
Lease Liabilities, Noncurrent [Member] | |||
Liabilities: | |||
Operating lease obligations | 216 | ||
Financing lease obligations | $ 140 | ||
[1]The balance sheet at June 30, 2022, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by the United States generally accepted accounting principles for complete financial statements. |
Note 3 - Leases - Schedule of F
Note 3 - Leases - Schedule of Future Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2022 USD ($) |
2023, Operating Leases | $ 83 |
2023, Financing Leases | 77 |
2023 | 160 |
2024, Operating Leases | 166 |
2024, Financing Leases | 154 |
2024 | 320 |
2025, Operating Leases | 142 |
2025, Financing Leases | 67 |
2025 | 209 |
2026, Operating Leases | 0 |
2026, Financing Leases | 0 |
2026 | 0 |
2027, Operating Leases | 0 |
2027, Financing Leases | 0 |
2027 | 0 |
Thereafter, Operating Leases | 0 |
Thereafter, Financing Leases | 0 |
Thereafter | 0 |
Total lease obligations, Operating Leases | 391 |
Total lease obligations, Financing Leases | 298 |
Total lease obligations | 689 |
Less: imputed interest, Operating Leases | 27 |
Less: imputed interest, Financing Leases | 15 |
Less: imputed interest | 42 |
Financing lease obligations | 140 |
Lease Liabilities, Current [Member] | |
Present value of net minimum lease obligations | 364 |
Present value of net minimum lease obligations, Financing Leases | 283 |
Present value of net minimum lease obligations | 647 |
Less: lease liabilities - current, Operating Leases | 148 |
Less: lease liabilities - current, Financing Leases | 143 |
Less: lease liabilities - current | 291 |
Lease Liabilities, Noncurrent [Member] | |
Operating lease obligations | 216 |
Financing lease obligations | 140 |
Lease liabilities - non-current | $ 356 |
Note 3 - Leases - Schedule of O
Note 3 - Leases - Schedule of Other information (Details) | Dec. 31, 2022 |
Operating leases (Year) | 2 years 3 months 18 days |
Financing leases (Year) | 2 years |
Operating leases | 6.30% |
Financing leases | 5.30% |
Note 4 - Property and Equipme_3
Note 4 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Depreciation, Depletion and Amortization, Nonproduction, Total | $ 82 | $ 34 | $ 149 | $ 51 |
Note 4 - Property and Equipme_4
Note 4 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 | |
Property Plant And Equipment, Gross | $ 2,338 | $ 1,877 | |
Accumulated depreciation and amortization | (784) | (779) | |
Property and equipment, net | 1,554 | 1,098 | [1] |
Furniture, Fixtures, Equipment, and Leasehold Improvements [Member] | |||
Property Plant And Equipment, Gross | 1,981 | 1,371 | |
Software and Software Development Costs [Member] | |||
Property Plant And Equipment, Gross | 217 | 264 | |
Construction in Progress [Member] | |||
Property Plant And Equipment, Gross | $ 140 | $ 242 | |
[1]The balance sheet at June 30, 2022, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by the United States generally accepted accounting principles for complete financial statements. |
Note 5 - Stockholders' Equity_2
Note 5 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Millions | 3 Months Ended | |||||
Dec. 19, 2022 | Dec. 31, 2022 | Dec. 05, 2022 | Nov. 09, 2022 | Jun. 30, 2022 | [1] | |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | $ 0.001 | |||
Preferred Stock, Shares Issued (in shares) | 280,898 | 280,898 | ||||
Equity Securities, Minimum Closing Bid Price (in dollars per share) | $ 1 | |||||
Equity Securities, Threshold Consecutive Trading Days (Day) | 10 days | |||||
Share Repurchase Program Authorized November 2022 [Member] | ||||||
Stock Repurchase Program, Authorized Amount | $ 1 | |||||
Treasury Stock, Shares, Acquired (in shares) | 0 | |||||
Series D Preferred Stock [Member] | ||||||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | |||||
Preferred Stock, Shares Issued (in shares) | 280,898 | |||||
[1]The balance sheet at June 30, 2022, has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by the United States generally accepted accounting principles for complete financial statements. |
Note 5 - Stockholders' Equity -
Note 5 - Stockholders' Equity - Schedule of Warrant Activity (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended |
Dec. 31, 2022 | Jun. 30, 2022 | |
Outstanding (in shares) | 80 | |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 72.10 | |
Outstanding, Aggregate Fair Market Value | $ 3,747 | $ 3,747 |
Outstanding, Weighted Average Remaining Contractual Term (Year) | 3 years 1 month 6 days | 3 years 7 months 6 days |
Warrants issued (in shares) | 0 | |
Warrants issued, Weighted Average Exercise Price (in dollars per share) | $ 0 | |
Warrants issued, Aggregate Fair Market Value | $ 0 | |
Warrants exercised (in shares) | 0 | |
Warrants exercised, Weighted Average Exercise Price (in dollars per share) | $ 0 | |
Warrants exercised, Aggregate Fair Market Value | $ 0 | |
Warrants expired (in shares) | 0 | |
Warrants expired,Weighted Average Exercise Price (in dollars per share) | $ 0 | |
Warrants expired, Aggregate Fair Market Value | $ 0 | |
Outstanding (in shares) | 80 | 80 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 72.10 | $ 72.10 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 72.10 | $ 72.10 |
Outstanding (in shares) | 80 | 80 |
Class of Warrant or Rights, Warrants Issued March 26, 2020 [Member] | ||
Outstanding (in shares) | 1 | |
Outstanding (in shares) | 1 | 1 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 187.50 | |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 187.50 | |
Outstanding (in shares) | 1 | 1 |
Class of Warrant or Rights, Warrants Issued March 30, 2020 [Member] | ||
Outstanding (in shares) | 2 | |
Outstanding (in shares) | 2 | 2 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 140.63 | |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 140.63 | |
Outstanding (in shares) | 2 | 2 |
Class of Warrant or Rights, Warrants Issued October 23, 2020 [Member] | ||
Outstanding (in shares) | 15 | |
Outstanding (in shares) | 15 | 15 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 86.25 | |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 86.25 | |
Outstanding (in shares) | 15 | 15 |
Class of Warrant or Rights, Warrants Issued October 28, 2020 [Member] | ||
Outstanding (in shares) | 6 | |
Outstanding (in shares) | 6 | 6 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 80.63 | |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 80.63 | |
Outstanding (in shares) | 6 | 6 |
Class of Warrant or Rights, Warrants Issued February 16, 2021 [Member] | ||
Outstanding (in shares) | 6 | |
Outstanding (in shares) | 6 | 6 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 121.88 | |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 121.88 | |
Outstanding (in shares) | 6 | 6 |
Class of Warrant or Rights, Warrants Issued April 12, 2021 [Member] | ||
Outstanding (in shares) | 50 | |
Outstanding (in shares) | 50 | 50 |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 56.25 | |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 56.25 | |
Outstanding (in shares) | 50 | 50 |
Note 6 - Net Loss Per Share (De
Note 6 - Net Loss Per Share (Details Textual) | 6 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Share-Based Payment Arrangement, Option, Exercise Price Range, Lower Range Limit (in dollars per share) | $ / shares | $ 13.20 |
Share-Based Payment Arrangement, Option, Exercise Price Range, Upper Range Limit (in dollars per share) | $ / shares | $ 175.50 |
Restricted Stock [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 0 |
Share-Based Payment Arrangement, Option [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 37,032 |
Note 6 - Net Loss Per Share - S
Note 6 - Net Loss Per Share - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Dec. 31, 2022 | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Net loss | $ (2,418) | $ (2,529) | $ (2,180) | $ (2,029) | $ (4,947) | $ (4,209) |
Denominator for basic and diluted net loss per share — weighted average common stock outstanding (in shares) | 1,613 | 1,583 | 1,613 | 1,582 | ||
Net loss per common share (in dollars per share) | $ (1.50) | $ (1.38) | $ (3.07) | $ (2.66) |
Note 8 - Fair Value Measureme_3
Note 8 - Fair Value Measurement - Schedule of Fair Value Measurement of Financial Instruments (Details) - USD ($) $ in Thousands | Dec. 31, 2022 | Jun. 30, 2022 |
Debt Securities, Available-for-sale | $ 30,953 | $ 26,173 |
Corporate & Government Debt Mutual Funds Securities [Member] | ||
Debt Securities, Available-for-sale | 18,926 | 19,191 |
Corporate & Government Debt ETFs Securities [Member] | ||
Debt Securities, Available-for-sale | 6,912 | 6,982 |
Interest-bearing Time Deposits [Member] | ||
Debt Securities, Available-for-sale | 5,115 | 0 |
Reported Value Measurement [Member] | ||
Debt Securities, Available-for-sale | 30,953 | 26,173 |
Reported Value Measurement [Member] | Corporate & Government Debt Mutual Funds Securities [Member] | Short-Term Investments [Member] | ||
Debt Securities, Available-for-sale | 18,926 | 19,191 |
Reported Value Measurement [Member] | Corporate & Government Debt ETFs Securities [Member] | Short-Term Investments [Member] | ||
Debt Securities, Available-for-sale | 6,912 | 6,982 |
Reported Value Measurement [Member] | Interest-bearing Time Deposits [Member] | Short-Term Investments [Member] | ||
Debt Securities, Available-for-sale | 5,115 | 0 |
Estimate of Fair Value Measurement [Member] | ||
Debt Securities, Available-for-sale | 30,953 | 26,173 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale | 25,838 | 26,173 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale | 5,115 | 0 |
Estimate of Fair Value Measurement [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Corporate & Government Debt Mutual Funds Securities [Member] | Short-Term Investments [Member] | ||
Debt Securities, Available-for-sale | 18,926 | 19,191 |
Estimate of Fair Value Measurement [Member] | Corporate & Government Debt Mutual Funds Securities [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale | 18,926 | 19,191 |
Estimate of Fair Value Measurement [Member] | Corporate & Government Debt Mutual Funds Securities [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Corporate & Government Debt Mutual Funds Securities [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Corporate & Government Debt ETFs Securities [Member] | Short-Term Investments [Member] | ||
Debt Securities, Available-for-sale | 6,912 | 6,982 |
Estimate of Fair Value Measurement [Member] | Corporate & Government Debt ETFs Securities [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale | 6,912 | 6,982 |
Estimate of Fair Value Measurement [Member] | Corporate & Government Debt ETFs Securities [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Corporate & Government Debt ETFs Securities [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Interest-bearing Time Deposits [Member] | Short-Term Investments [Member] | ||
Debt Securities, Available-for-sale | 5,115 | 0 |
Estimate of Fair Value Measurement [Member] | Interest-bearing Time Deposits [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Debt Securities, Available-for-sale | 0 | 0 |
Estimate of Fair Value Measurement [Member] | Interest-bearing Time Deposits [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Debt Securities, Available-for-sale | 5,115 | 0 |
Estimate of Fair Value Measurement [Member] | Interest-bearing Time Deposits [Member] | Short-Term Investments [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Debt Securities, Available-for-sale | $ 0 | $ 0 |
Note 9 - Debt (Details Textual)
Note 9 - Debt (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | ||||||
Sep. 05, 2022 | Sep. 03, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Sep. 30, 2022 | Feb. 13, 2020 | Sep. 05, 2019 | |
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 63 | $ 3 | |||||
Secured Promissory Note (2019 Note) [Member] | |||||||
Repayments of Debt | $ 500 | $ 1,000 | |||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 55 | 330 | |||||
Notes Payable, Total | $ 500 | ||||||
Secured Promissory Note (2019 Note) [Member] | Chief Executive Officer and Board of Directors Chairman, Thomas B. Pickens III [Member] | |||||||
Debt Instrument, Face Amount | $ 1,500 | ||||||
Secured Promissory Note, (2020 Note) [Member] | |||||||
Repayments of Debt | 1,000 | ||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 172 | ||||||
Secured Promissory Note, (2020 Note) [Member] | Chief Executive Officer and Board of Directors Chairman, Thomas B. Pickens III [Member] | |||||||
Debt Instrument, Face Amount | $ 1,000 | ||||||
Secured Promissory Notes, "Original Notes" [Member] | Chief Executive Officer and Board of Directors Chairman, Thomas B. Pickens III [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 11% |
Note 10 - Business Risk and C_2
Note 10 - Business Risk and Credit Risk Concentration Involving Cash (Details Textual) $ in Thousands | 6 Months Ended |
Dec. 31, 2022 USD ($) | |
Cash, FDIC Insured Amount | $ 250 |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | |
Number Of Customers | 3 |
Note 11 - Stock-based Compens_3
Note 11 - Stock-based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Share-Based Payment Arrangement, Option [Member] | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | $ 0 | $ 0 | ||
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | 446 | $ 446 | ||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 3 months 29 days | |||
Share-Based Payment Arrangement, Expense | 48 | $ 0 | $ 94 | $ 1 |
Restricted Stock [Member] | ||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 1 month 17 days | |||
Share-Based Payment Arrangement, Expense | 356 | $ 439 | $ 697 | $ 797 |
Share-Based Payment Arrangement, Nonvested Award, Excluding Option, Cost Not yet Recognized, Amount | $ 2,000 | $ 2,000 |
Note 11 - Stock-based Compens_4
Note 11 - Stock-based Compensation - Stock Option Activity Summary (Details) | 6 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Outstanding (in shares) | shares | 34,284 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 40.41 |
Granted (in shares) | shares | 5,162 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 13.20 |
Exercised (in shares) | shares | 0 |
Exercised, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Canceled or expired (in shares) | shares | (2,414) |
Canceled or expired, weighted average grant date fair value (in dollars per share) | $ / shares | $ 174.08 |
Outstanding (in shares) | shares | 37,032 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 27.91 |
Note 11 - Stock-based Compens_5
Note 11 - Stock-based Compensation - Stock Options Outstanding (Details) | 6 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Outstanding, exercise prices range lower limit (in dollars per share) | $ 13.20 |
Outstanding, exercise prices range upper (in dollars per share) | $ 175.50 |
Number outstanding (in shares) | shares | 37,032 |
Weighted average remaining contractual lifeWeighted average remaining contractual life (Year) | 9 years |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 27.91 |
Shares Exercisable (in shares) | shares | 2,671 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 151.62 |
Exercise Price Range 1 [Member] | |
Outstanding, exercise prices range lower limit (in dollars per share) | 13.20 |
Outstanding, exercise prices range upper (in dollars per share) | $ 19.20 |
Number outstanding (in shares) | shares | 34,361 |
Weighted average remaining contractual lifeWeighted average remaining contractual life (Year) | 9 years 4 months 6 days |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 18.30 |
Shares Exercisable (in shares) | shares | 0 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 0 |
Exercise Price Range 2 [Member] | |
Outstanding, exercise prices range lower limit (in dollars per share) | 55.50 |
Outstanding, exercise prices range upper (in dollars per share) | $ 84.90 |
Number outstanding (in shares) | shares | 431 |
Weighted average remaining contractual lifeWeighted average remaining contractual life (Year) | 5 years 9 months 3 days |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 62.22 |
Shares Exercisable (in shares) | shares | 431 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 62.22 |
Exercise Price Range 3 [Member] | |
Outstanding, exercise prices range lower limit (in dollars per share) | 159 |
Outstanding, exercise prices range upper (in dollars per share) | $ 175.50 |
Number outstanding (in shares) | shares | 2,240 |
Weighted average remaining contractual lifeWeighted average remaining contractual life (Year) | 4 years 4 months 9 days |
Outstanding, Weighted Average Exercise Price (in dollars per share) | $ 168.82 |
Shares Exercisable (in shares) | shares | 2,240 |
Exercisable, Weighted Average Exercise Price (in dollars per share) | $ 168.82 |
Note 11 - Stock-based Compens_6
Note 11 - Stock-based Compensation - Restricted Stock Activity (Details) - Restricted Stock [Member] | 6 Months Ended |
Dec. 31, 2022 $ / shares shares | |
Outstanding (in shares) | shares | 75,873 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 39 |
Granted (in shares) | shares | 0 |
Granted, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Vested (in shares) | shares | 0 |
Vested, weighted average grant date fair value (in dollars per share) | $ / shares | $ 0 |
Canceled or expired (in shares) | shares | (55) |
Canceled or expired (in dollars per share) | $ / shares | $ 60.60 |
Outstanding (in shares) | shares | 75,818 |
Outstanding, weighted average grant date fair value (in dollars per share) | $ / shares | $ 38.93 |
Note 12 - Income Taxes (Details
Note 12 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest, Total | $ (2,418) | $ (2,180) | $ (4,947) | $ (4,209) |
Effective Income Tax Rate Reconciliation, Percent, Total | 0% | 0% | 0% | 0% |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | 21% | ||
Unrecognized Tax Benefits, Ending Balance | $ 400 | $ 400 |
Note 15 - Impact of COVID-19 _2
Note 15 - Impact of COVID-19 Pandemic (Details Textual) | Dec. 31, 2022 |
Percent of Deferred Payroll Tax Amount Paid | 100% |
Note 16 - Subsequent Events (De
Note 16 - Subsequent Events (Details Textual) | Jan. 27, 2023 shares |
Omnibus Equity Plan, 2021 [Member] | Director [Member] | Subsequent Event [Member] | |
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 2,150 |