Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2022 | Nov. 03, 2022 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001063537 | |
Entity Registrant Name | RiceBran Technologies | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2022 | |
Document Transition Report | false | |
Entity File Number | 001-36245 | |
Entity Incorporation, State or Country Code | CA | |
Entity Tax Identification Number | 87-0673375 | |
Entity Address, Address Line One | 25420 Kuykendahl Rd., Suite B300 | |
Entity Address, City or Town | Tomball | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 77375 | |
City Area Code | 281 | |
Local Phone Number | 675-2421 | |
Title of 12(b) Security | Common Stock, no par value per share | |
Trading Symbol | RIBT | |
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 | 6,242,077 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Revenues | $ 10,252 | $ 6,909 | $ 31,001 | $ 23,088 |
Cost of goods sold | 10,949 | 7,185 | 31,673 | 22,539 |
Gross profit (loss) | (697) | (276) | (672) | 549 |
Selling, general and administrative expenses | 1,765 | 1,802 | 5,165 | 5,476 |
Loss (gain) on involuntary conversion of property and equipment | 0 | (1) | (147) | 5 |
Operating loss | (2,462) | (2,077) | (5,690) | (4,932) |
Interest income | 7 | 0 | 9 | 1 |
Interest expense | (152) | (121) | (396) | (353) |
Change in fair value of derivative warrant liability | 612 | 0 | 24 | 0 |
Gain on extinguishment of PPP loan | 0 | 0 | 0 | 1,792 |
Other expense | (39) | (18) | (111) | (55) |
Other income | 0 | 3 | 5 | 3 |
Loss before income taxes | (2,034) | (2,213) | (6,159) | (3,544) |
Income tax expense | (8) | 0 | (20) | (1) |
Net loss | $ (2,042) | $ (2,213) | $ (6,179) | $ (3,545) |
Loss per common share: | ||||
Basic (in dollars per share) | $ (0.38) | $ (0.47) | $ (1.17) | $ (0.77) |
Diluted (in dollars per share) | $ (0.38) | $ (0.47) | $ (1.17) | $ (0.77) |
Weighted average number of shares outstanding: | ||||
Basic (in shares) | 5,332,308 | 4,745,684 | 5,290,780 | 4,631,880 |
Diluted (in shares) | 5,332,308 | 4,745,684 | 5,290,780 | 4,631,880 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 4,374 | $ 5,825 |
Accounts receivable, net of allowance for doubtful accounts of $123 and $18 | 4,995 | 4,136 |
Inventories | 2,687 | 2,444 |
Other current assets | 1,148 | 810 |
Total current assets | 13,204 | 13,215 |
Property and equipment, net | 14,629 | 15,444 |
Operating lease right-of-use assets | 1,868 | 2,127 |
Intangible assets | 411 | 527 |
Total assets | 30,112 | 31,313 |
Current liabilities: | ||
Accounts payable | 1,450 | 826 |
Commodities payable | 1,960 | 1,702 |
Accrued salary, wages and benefits | 908 | 787 |
Accrued expenses | 941 | 683 |
Operating lease liabilities, current portion | 417 | 382 |
Due under insurance premium finance agreements | 429 | 128 |
Finance lease liabilities, current portion | 130 | 86 |
Long-term debt, current portion | 1,333 | 1,183 |
Total current liabilities | 14,340 | 9,156 |
Operating lease liabilities, less current portion | 1,613 | 1,948 |
Finance lease liabilities, less current portion | 357 | 100 |
Long-term debt, less current portion | 365 | 1,356 |
Derivative warrant liability | 234 | 258 |
Total liabilities | 16,909 | 12,818 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Preferred stock, 20,000,000 shares authorized: Series G, convertible, 3,000 shares authorized, stated value $150, 150 shares, issued and outstanding | 75 | 75 |
Common stock, no par value, 15,000,000 shares authorized, 5,242,077 shares and 5,158,967 shares, issued and outstanding | 327,166 | 326,279 |
Accumulated deficit | (314,038) | (307,859) |
Total shareholders' equity | 13,203 | 18,495 |
Total liabilities and shareholders' equity | 30,112 | 31,313 |
Line of Credit With Bank [Member] | ||
Current liabilities: | ||
Due under line of credit | 1,846 | 0 |
Factoring Agreement [Member] | ||
Current liabilities: | ||
Due under line of credit | $ 4,926 | $ 3,379 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Accounts receivable, allowance for doubtful accounts | $ 123 | $ 18 |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 150,000,000 | 150,000,000 |
Common stock, shares issued (in shares) | 5,242,077 | 5,158,967 |
Common stock, shares outstanding (in shares) | 5,242,077 | 5,158,967 |
Series G Preferred Stock [Member] | ||
Preferred stock, shares authorized (in shares) | 3,000 | 3,000 |
Preferred stock, stated value (in dollars per share) | $ 150 | $ 150 |
Preferred stock, shares issued (in shares) | 150 | 150 |
Preferred stock, shares outstanding (in shares) | 150 | 150 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2021 | |
Cash flow from operating activities: | ||
Net loss | $ (6,179) | $ (3,545) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation | 1,575 | 1,821 |
Amortization | 116 | 150 |
Stock and share-based compensation | 887 | 840 |
Change in fair value derivative warrant liability | (24) | 0 |
Loss (gain) on involuntary conversion of property and equipment | (147) | 5 |
Gain on extinguishment of PPP loan | 0 | (1,792) |
Provision for bad debts | 105 | 13 |
Other | 1 | 54 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (964) | (18) |
Inventories | (243) | (295) |
Accounts payable and accrued expenses | 1,094 | 594 |
Commodities payable | 258 | 619 |
Other | (338) | (431) |
Net cash used in operating activities | (3,859) | (1,985) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (411) | (1,187) |
Proceeds from insurance on involuntary conversion | 109 | 638 |
Net cash used in investing activities | (302) | (549) |
Cash flows from financing activities: | ||
Advances on factoring agreement, including the Over-advance | 28,964 | 22,135 |
Payments on bank line of credit | (900) | 0 |
Advances on insurance premium finance agreements | 928 | 962 |
Payments on insurance premium finance agreements | (627) | (677) |
Payments on long-term debt and finance lease liabilities | (963) | (534) |
Proceeds from issuances of common stock and warrants, net of costs | 0 | 3,372 |
Proceeds from common stock warrant exercises | 0 | 171 |
Net cash provided by financing activities | 2,710 | 3,459 |
Net change in cash and cash equivalents | (1,451) | 925 |
Cash and cash equivalents, beginning of period | 5,825 | 5,263 |
Cash and cash equivalents, end of period | 4,374 | 6,188 |
Net change in cash and cash equivalents | (1,451) | 925 |
Supplemental disclosures: | ||
Cash paid for interest | 354 | 267 |
Cash paid for income taxes | 19 | 15 |
Factoring Agreement [Member] | ||
Cash flows from financing activities: | ||
Payments on factoring agreement | (27,417) | (21,970) |
Line of Credit With Bank [Member] | ||
Cash flows from financing activities: | ||
Advances on factoring agreement, including the Over-advance | $ 2,725 | $ 0 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | 1. In the opinion of management, the accompanying unaudited condensed consolidated financial statements (interim financial statements) of RiceBran Technologies and its subsidiaries were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and the rules and regulations of the Securities and Exchange Commission (the SEC) for reporting on Form 10 not These interim financial statements should be read in conjunction with the consolidated audited financial statements and notes thereto in our Annual Report on Form 10 December 31, 2021, The results reported in these interim financial statements are not In August 2022, 1 August 26, 2022. Certain reclassifications have been made to amounts reported for the prior periods to achieve consistent presentation with the current period. Such reclassifications had no |
Note 2 - Business
Note 2 - Business | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 2. We are a specialty ingredient company focused on the development, production, and marketing of products derived from traditional and ancient small grains. We create and produce products utilizing proprietary processes to deliver improved nutrition, ease of use, and extended shelf-life, while addressing consumer demand for all natural, non-GMO and organic products. We believe our products can become valuable alternatives to traditional food ingredients. Notably, we apply our proprietary technologies to convert raw rice bran into stabilized rice bran (SRB), and high value-added derivative products including: RiBalance, a rice bran nutritional package derived from SRB; RiSolubles, a nutritious, carbohydrate and lipid rich fraction of RiBalance; RiFiber, a fiber rich insoluble derivative of RiBalance and ProRyza, a rice bran protein-based product; and a variety of other valuable derivatives extracted from these core products. In granular form, SRB is a food additive used in products for human and animal consumption. We believe SRB has certain qualities that make it more attractive than additives based on the by-products of other agricultural commodities, such as corn, soybeans, wheat, and yeast. Our SRB products and SRB derivatives support the production of healthy, natural, hypoallergenic, gluten free, and non-genetically modified ingredients and supplements for use in meats, baked goods, cereals, coatings, health foods, and high-end animal nutrition. Our target customers are food and animal nutrition manufacturers, wholesalers and retailers, both domestically and internationally. We manufacture and distribute SRB from four locations: two facilities located within supplier-owned rice mills in Arbuckle and West Sacramento, California; one company-owned facility in Mermentau, Louisiana; and our own rice mill in Wynne, Arkansas. At our Dillon, Montana facility, we produce SRB-based products and derivatives through proprietary processes. Our rice mill in Wynne, Arkansas (Golden Ridge) supplies grades U.S. No. 1 No. 2 |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 3. Recent accounting standards not The following discusses the accounting standard(s) not In June 2016, No. 2016 13 326 2023 January 1, 2023. not |
Note 4 - Cash and Cash Equivale
Note 4 - Cash and Cash Equivalents | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE 4. As of September 30, 2022, three We have cash on deposit in excess of federally insured limits at a bank. We do not |
Note 5 - Accounts Receivable an
Note 5 - Accounts Receivable and Revenues | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Accounts Receivable and Revenues [Text Block} | NOTE 5. Amounts billed and due from our customers are classified as accounts receivable on our consolidated balance sheets and require payment on a short-term basis. Invoices are generally issued at the point control transfers and substantially all of our invoices are due within 30 120 30 three nine September 30, 2022 2021, Our accounts receivable potentially subject us to significant concentrations of credit risk. Revenues and accounts receivable from significant customers (customers with revenue or accounts receivable in excess of 10% Customer A B C D % of revenues, three months ended September 30, 2022 15 % 5 % 11 % - % % of revenues, three months ended September 30, 2021 21 % 7 % - % 9 % % of revenues, nine months ended September 30, 2022 13 % 8 % 5 % 2 % % of revenues, nine months ended September 30, 2021 10 % 11 % 1 % 11 % % of accounts receivable, as of September 30, 2022 13 % 7 % 17 % - % % of accounts receivable, as of December 31, 2021 15 % 8 % - % 9 % The following table presents revenues by geographic area shipped to (in thousands). Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 United States $ 9,876 $ 6,450 $ 30,034 $ 21,867 Other countries 376 459 967 1,221 Revenues $ 10,252 $ 6,909 $ 31,001 $ 23,088 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6. The following table details the components of property and equipment (amounts in thousands). September 30, December 31 2022 2021 Estimated Useful Lives Land $ 730 $ 730 Furniture and fixtures 259 265 5 - 10 years Plant 10,094 10,457 20 - 40 years, or life of lease Computer and software 450 452 3 - 5 years Leasehold improvements 1,838 1,828 4 - 15 years, or life of lease Machinery and equipment 15,598 15,115 5 - 15 years Property and equipment, cost 28,969 28,847 Less accumulated depreciation 14,340 13,403 Property and equipment, net $ 14,629 $ 15,444 Amounts payable for property and equipment included in accounts payable totaled $0.1 million at September 30, 2022, December 31, 2021. not September 30, 2022, December 31, 2021. |
Note 7 - Leases
Note 7 - Leases | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Lessee, Operating and Finance Leases [Text Block] | NOTE 7. The components of lease expense and cash flows from leases (in thousands) follow. Three Months Ended September 30, Nine Months Ended Setepmber 30, 2022 2021 2022 2021 Finance lease cost: Amortization of right-of use assets, included in cost of goods sold $ 20 $ 24 $ 59 $ 67 Interest on lease liabilities 6 2 11 8 Operating lease cost, included in selling, general and administrative expenses: Fixed leases cost 129 129 387 387 Variable lease cost 39 37 125 112 Short-term lease cost 41 21 62 60 Total lease cost $ 235 $ 213 $ 644 $ 634 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 6 $ 2 $ 11 $ 8 Operating cash flows from operating leases $ 129 $ 129 $ 387 $ 387 Financing cash flows from finance leases $ 22 $ 23 $ 68 $ 73 As of September 30, 2022, not September 30, 2022, December 31, 2021, September 30, 2022, December 31, 2021. three nine September 30, 2022, three nine September 30, 2021, As of September 30, 2022, not September 30, 2022, Operating Leases Finance Leases Remaining leases terms (in years) 1.0 - 10.4 0.4 - 5.0 Weighted average remaining lease terms (in years) 5.7 3.0 Discount rates 6.3% - 9.0% 2.8% - 10.4% Weighted average discount rate 7.8% 8.1% Maturities of lease liabilities as of September 30, 2022, Operating Finance Leases Leases 2022 (three months ended December 31, 2022) $ 122 $ 52 2023 528 158 2024 429 117 2025 440 102 2026 450 100 Thereafter 578 60 Total lease payments 2,547 589 Amounts representing interest (517 ) (102 ) Present value of lease obligations $ 2,030 $ 487 |
Note 8 - Debt
Note 8 - Debt | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 8. We finance certain amounts owed for annual insurance premiums under financing agreements. As of September 30, 2022, March 2023, We borrow under a factoring agreement with a lender (the Lender), which provides a $7.0 million credit facility. We may two October 2023. two October 2021. no The Lender advanced us $0.9 million effective September 30, 2022 ( September 30, 2022). December 29, 2022. Additional information related to our factoring obligation (exclusive of the Over-advance) follows. Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Average borrowings outstanding (in thousands) $ 3,150 $ 1,522 $ 3,036 $ 1,324 Amortization of debt issuance costs (in thousands) $ - $ 23 $ - $ 68 Interest paid, as a percentage of average outstanding borrowings 1.6 % 2.0 % 1.4 % 5.0 % Fees paid, as a percentage of average outstanding borrowings 1.6 % 1.6 % 1.2 % 5.0 % As of September 30, 2022, September 30, 2022). no three September 30, 2022, nine September 30, 2022. RiceBran Technologies Notes to Unaudited Condensed Consolidated Financial Statements Long-term debt consists of the following (in thousands). September 30, December 31, 2022 2021 Mortgage promissory note - Originally dated July 2020 and modified in December 2021. As modified, interest accrues at an annual rate which is the greater of 7.0 10.3 13.3 December 2023 11 2.5 $ 1,614 $ 2,469 Progress payment agreement - Dated August 2022. Original principal $ 37 25.2 November 2022 37 - Equipment note - Dated May 2021. Original principal $ 46 June 2025 3.6 27 33 Equipment note - Dated December 2019. Original principal $ 40 December 2024 9.3 20 26 Equipment note - Initially recorded in November 2018, in an acquisition, at the present value of future payments using a discount rate of 4.8 August 2022 - 11 Total long-term debt, net $ 1,698 $ 2,539 Future principal maturities of long-term debt outstanding as of September 30, 2022, 2022 (three months ended December 31, 2022) $ 347 2023 1,337 2024 19 2025 5 Principal maturities 1,708 Debt issuance costs (10 ) Total long-term debt, net $ 1,698 |
Note 9 - Equity, Share-based Co
Note 9 - Equity, Share-based Compensation and Warrants | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-Based Payments [Text Block] | NOTE 9. In August 2022, 1 10 August 26, 2022. On July 14, 2022, 2014 2014 September 30, 2022, 2014 A summary of equity activity follows (in thousands, except share amounts). Shares Preferred Preferred Common Accumulated Series G Common Stock Stock Deficit Equity Balance, December 31, 2021 150 5,158,967 $ 75 $ 326,279 $ (307,859 ) $ 18,495 Common stock awards under equity incentive plans - 22,475 - 241 - 241 Common stock issued to vendor - 600 - 5 - 5 Net income - - - - (1,516 ) (1,516 ) Balance, March 31, 2022 150 5,182,042 75 326,525 (309,375 ) 17,225 Common stock awards under equity incentive plans - 48,388 - 146 - 146 Common stock issued to vendor - 600 - 1 - 1 Net loss - - - - (2,621 ) (2,621 ) Balance, June 30, 2022 150 5,231,030 75 326,672 (311,996 ) 14,751 Common stock awards under equity incentive plans - - 492 - 492 Common stock issued to vendor - 600 - 2 - 2 Other - 10,447 - - - - Net loss - - - - (2,042 ) (2,042 ) Balance, September 30, 2022 150 5,242,077 $ 75 $ 327,166 $ (314,038 ) $ 13,203 Shares Preferred Preferred Common Accumulated Series G Common Stock Stock Deficit Equity Balance, December 31, 2020 225 4,523,809 $ 112 $ 322,218 $ (298,910 ) $ 23,420 Common stock awards under equity incentive plans - 2,994 - 250 - 250 Common stock issued to vendor - 600 - 3 - 3 Other - - - (3 ) - (3 ) Net income - - - - 591 591 Balance, March 31, 2021 225 4,527,403 112 322,468 (298,319 ) 24,261 Common stock awards under equity incentive plans - 2,964 - 290 - 290 Common stock issued to vendor - 600 - 5 - 5 Exercise of common stock warrants - 17,794 - 171 - 171 Other - - - 3 - 3 Net loss - - - - (1,923 ) (1,923 ) Balance, June 30, 2021 225 4,548,761 112 322,937 (300,242 ) 22,807 Common stock awards under equity incentive plans - 38,978 - 287 - 287 Common stock issued to vendor - 600 - 5 - 5 Sale of common stock and common stock warrants, net of costs - 3,062,395 - 2,725 - 2,725 Exercise of common stock warrant - 1,500,000 - - - - Conversion of preferred stock into common stock (75 ) 71,174 (37 ) 37 - - Net loss - - - - (2,213 ) (2,213 ) Balance, September 30, 2021 150 9,221,908 $ 75 $ 325,991 $ (302,455 ) $ 23,611 Share-based compensation by type of award follows (in thousands). Three Months Ended September 30, 2022 June 30, 2022 March 31, 2022 Stock options $ 28 $ 21 $ 29 Restricted stock units 464 125 212 Compensation expense related to common stock awards issued under equity incentive plan $ 492 $ 146 $ 241 Options In the three September 30, 2022, three June 30, 2022, three March 31, 2022, Stock Units We have outstanding (i) restricted stock units (RSUs) issued under the 2014 one Restricted Stock Units (Issued under 2014 Plan) Stock Units Issued to Vendors Number of Units Unrecognized Stock Compensation (in thousands) Weighted Average Expense Period (Years) Number of Units Unrecognized Stock Compensation (in thousands) Weighted Average Expense Period (Years) Nonvested at December 31, 2021 126,603 $ (658 ) 0.9 - $ - - Granted 37,000 (153 ) 2.0 - - - Forfeited (1,000 ) 7 0.7 - - - Vested with service (22,475 ) - - - - - Expensed - 212 - - - - Nonvested at March 31, 2022 140,128 (592 ) 0.9 - - - Impact of Modification: - - - Before modification (11,468 ) 125 - - - - After modification 11,468 (60 ) - - - - Forfeited (9,454 ) 55 - - - - Vested with Service (34,404 ) - - - - - Expensed - 125 - - - - Nonvested at June 30, 2022 96,270 (347 ) 0.9 - - - Granted 402,276 (1,458 ) 2.8 38,968 (65 ) 3.0 Vested with Service (63,607 ) - - - - - Expensed - 464 - - - - Nonvested at September 30, 2022 434,939 $ (1,341 ) 2.5 38,968 $ (65 ) 3.0 Number of RSUs Vested at December 31, 2021 86,505 Vested with service 22,475 Issued at vesting (22,475 ) Vested at March 31, 2022 86,505 Vested with service 34,404 Issued at termination of service (48,386 ) Vested at June 30, 2022 72,523 Vested with service 63,607 Vested at September 30, 2022 136,130 As of September 30, 2022, no In the three September 30, 2022, 2014 ● 278,151 RSUs, the issuance of which was subject to shareholder approval of the increase in the shares of common stock authorized for issuance under the 2014 forty-nine July 14, 2022, ● 65,790 RSUs to our directors which vest on July 14, 2023, one ● 19,003 RSUs to our directors on July 14, 2022, June 30, 2022. ● 30,279 RSUs to our directors on September 30, 2022, September 30, 2022. ● 9,053 RSUs to employees. The RSUs vest over an average of 8 months from the date of grant. We issued 38,968 SUs to a service provider in September 2022 November 2022, three September 2025, three may October 1, 2022, may 90 38,968 121,032 may not In April 2022, April 28, 2022, In the three June 30, 2022, no three March 31, 2022, Warrants In the three September 30, 2022, 12, three March 31, 2022, Subsequent Offering In October 2022, April 20, 2023, October 20, 2025. October 20, 2022, may In addition, we issued warrants for the purchase of up to 63,000 shares of our common stock to the placement agent at an exercise price of $1.875 per share, which expire October 20, 2027. |
Note 10 - Income Taxes
Note 10 - Income Taxes | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 10. Our tax expense for the three nine September 30, 2022 2021, no September 30, 2022, not not |
Note 11 - Loss Per Share (EPS)
Note 11 - Loss Per Share (EPS) | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 11. We calculate basic EPS under the two may not We calculate diluted EPS by dividing the net income attributable to RiceBran Technologies common shareholders by the weighted average number of common shares outstanding during the period increased by the number of additional common shares that would have been outstanding if the impact of assumed exercises and conversions is dilutive. We calculate the dilutive effects of outstanding options, warrants, and nonvested stock units that vest solely on the basis of a service condition are calculated using the treasury stock method. We calculate the dilutive effects of the outstanding preferred stock using the if-converted method. Reconciliations of the numerators and denominators in the EPS computations follow. Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 NUMERATOR (in thousands): Numerator for basic and diluted EPS - net loss $ (2,042 ) $ (2,213 ) $ (6,179 ) $ (3,545 ) DENOMINATOR: Weighted average number of shares of shares of common stock outstanding 5,235,005 4,662,004 5,203,504 4,575,587 Weighted average number of shares of common stock underlying vested RSUs 97,303 83,680 87,276 56,293 Denominator for basic and diluted EPS - weighted average number of shares outstanding 5,332,308 4,745,684 5,290,780 4,631,880 No three nine September 30, 2022 2021, three nine September 30, 2022 2021, |
Note 12 - Fair Value Measuremen
Note 12 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 12. The fair value of cash and cash equivalents, accounts and other receivables, accounts payable and commodities payable approximates their carrying value due to shorter maturities. As of September 30, 2022, 3 September 30, 2022, 3 The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis on our consolidated balance sheets (in thousands): Level 1 Level 2 Level 3 Total Total liabilities at fair value as of September 30, 2022 - Derivative warrant liability $ - $ - $ 234 $ 234 Total liabilities at fair value as of December 31, 2021 - Derivative warrant liability $ - $ - $ 258 $ 258 Total liabilities at fair value as of September 30, 2021 - Derivative warrant liability $ - $ - $ 647 $ 647 The following tables summarize the changes in level 3 three nine September 30, 2022 2021 Fair Value as of Beginning of Period Total Realized and Unrealized Gains (Losses) Issuance of New Instruments Net Transfers (Into) Out of Level 3 Fair Value, at End of Period Change in Unrealized Gains (Losses) on Instruments Still Held Three months ended September 30, 2022 Total Level 3 fair value - Derivative warrant liability $ 846 $ 612 $ - $ - $ 234 $ 612 Nine months ended September 30, 2022: Total Level 3 fair value - Derivative warrant liability $ 258 $ 24 $ - $ - $ 234 $ 24 Three and nine months ended September 30, 2021 Total Level 3 fair value - Derivative warrant liability $ - $ - $ 647 $ - $ 647 $ - The derivative warrant liability relates to a warrant issued in September 2021, September 2023 5 September 2022 may September 30, 2022, December 31, 2021, September 30, 2022 December 31, 2021 Assumed volatility 88.3 % 69.5 % Assumed risk free interest rate 3.2 % 0.8 % Expected life of options (in years) 4.0 4.8 Expected dividends - - The fair value of Warrant A approximates the cash settlement the holder could elect to be paid in the event of a change in control. At September 30, 2022, |
Note 13 - Commitments and Conti
Note 13 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 13. PPP Audit Contingency In April 2020, March 2020. January 2021. may January 2027, six may 2020 $2 RiceBran Technologies Notes to Unaudited Condensed Consolidated Financial Statements Employment Contracts and Severance Payments In the normal course of business, we periodically enter into employment agreements which incorporate indemnification provisions. While the maximum amount to which we may No We have employment contracts with certain officers and key management that include provisions for potential severance payments in the event of without-cause terminations or terminations under certain circumstances after a change in control. In addition, vesting of outstanding nonvested equity grants would accelerate following a change in control. Legal Matters From time to time, we are involved in litigation incidental to the conduct of our business. These matters may no |
Note 14 - Failure to Comply wit
Note 14 - Failure to Comply with NASDAQ Listing Requirements | 9 Months Ended |
Sep. 30, 2022 | |
Notes to Financial Statements | |
Failure to Comply with Nasdaq Listing Requirements Disclosure [Text Block] | NOTE 14. On September 15, 2021, 5550 2 5550 2 $1.00. $1.00 10, not 20, September 12, 2022, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2022 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting standards not The following discusses the accounting standard(s) not In June 2016, No. 2016 13 326 2023 January 1, 2023. not |
Note 5 - Accounts Receivable _2
Note 5 - Accounts Receivable and Revenues (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Customer A B C D % of revenues, three months ended September 30, 2022 15 % 5 % 11 % - % % of revenues, three months ended September 30, 2021 21 % 7 % - % 9 % % of revenues, nine months ended September 30, 2022 13 % 8 % 5 % 2 % % of revenues, nine months ended September 30, 2021 10 % 11 % 1 % 11 % % of accounts receivable, as of September 30, 2022 13 % 7 % 17 % - % % of accounts receivable, as of December 31, 2021 15 % 8 % - % 9 % |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 United States $ 9,876 $ 6,450 $ 30,034 $ 21,867 Other countries 376 459 967 1,221 Revenues $ 10,252 $ 6,909 $ 31,001 $ 23,088 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, December 31 2022 2021 Estimated Useful Lives Land $ 730 $ 730 Furniture and fixtures 259 265 5 - 10 years Plant 10,094 10,457 20 - 40 years, or life of lease Computer and software 450 452 3 - 5 years Leasehold improvements 1,838 1,828 4 - 15 years, or life of lease Machinery and equipment 15,598 15,115 5 - 15 years Property and equipment, cost 28,969 28,847 Less accumulated depreciation 14,340 13,403 Property and equipment, net $ 14,629 $ 15,444 |
Note 7 - Leases (Tables)
Note 7 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended September 30, Nine Months Ended Setepmber 30, 2022 2021 2022 2021 Finance lease cost: Amortization of right-of use assets, included in cost of goods sold $ 20 $ 24 $ 59 $ 67 Interest on lease liabilities 6 2 11 8 Operating lease cost, included in selling, general and administrative expenses: Fixed leases cost 129 129 387 387 Variable lease cost 39 37 125 112 Short-term lease cost 41 21 62 60 Total lease cost $ 235 $ 213 $ 644 $ 634 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 6 $ 2 $ 11 $ 8 Operating cash flows from operating leases $ 129 $ 129 $ 387 $ 387 Financing cash flows from finance leases $ 22 $ 23 $ 68 $ 73 |
Lessee, Operating and Finance Leases, Remaining Terms and Discount Rates [Table Text Block] | Operating Leases Finance Leases Remaining leases terms (in years) 1.0 - 10.4 0.4 - 5.0 Weighted average remaining lease terms (in years) 5.7 3.0 Discount rates 6.3% - 9.0% 2.8% - 10.4% Weighted average discount rate 7.8% 8.1% |
Lessee, Operating and Finance Lease Liability, Maturity [Table Text Block] | Operating Finance Leases Leases 2022 (three months ended December 31, 2022) $ 122 $ 52 2023 528 158 2024 429 117 2025 440 102 2026 450 100 Thereafter 578 60 Total lease payments 2,547 589 Amounts representing interest (517 ) (102 ) Present value of lease obligations $ 2,030 $ 487 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 Average borrowings outstanding (in thousands) $ 3,150 $ 1,522 $ 3,036 $ 1,324 Amortization of debt issuance costs (in thousands) $ - $ 23 $ - $ 68 Interest paid, as a percentage of average outstanding borrowings 1.6 % 2.0 % 1.4 % 5.0 % Fees paid, as a percentage of average outstanding borrowings 1.6 % 1.6 % 1.2 % 5.0 % |
Schedule of Long-Term Debt Instruments [Table Text Block] | September 30, December 31, 2022 2021 Mortgage promissory note - Originally dated July 2020 and modified in December 2021. As modified, interest accrues at an annual rate which is the greater of 7.0 10.3 13.3 December 2023 11 2.5 $ 1,614 $ 2,469 Progress payment agreement - Dated August 2022. Original principal $ 37 25.2 November 2022 37 - Equipment note - Dated May 2021. Original principal $ 46 June 2025 3.6 27 33 Equipment note - Dated December 2019. Original principal $ 40 December 2024 9.3 20 26 Equipment note - Initially recorded in November 2018, in an acquisition, at the present value of future payments using a discount rate of 4.8 August 2022 - 11 Total long-term debt, net $ 1,698 $ 2,539 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | 2022 (three months ended December 31, 2022) $ 347 2023 1,337 2024 19 2025 5 Principal maturities 1,708 Debt issuance costs (10 ) Total long-term debt, net $ 1,698 |
Note 9 - Equity, Share-based _2
Note 9 - Equity, Share-based Compensation and Warrants (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | Shares Preferred Preferred Common Accumulated Series G Common Stock Stock Deficit Equity Balance, December 31, 2021 150 5,158,967 $ 75 $ 326,279 $ (307,859 ) $ 18,495 Common stock awards under equity incentive plans - 22,475 - 241 - 241 Common stock issued to vendor - 600 - 5 - 5 Net income - - - - (1,516 ) (1,516 ) Balance, March 31, 2022 150 5,182,042 75 326,525 (309,375 ) 17,225 Common stock awards under equity incentive plans - 48,388 - 146 - 146 Common stock issued to vendor - 600 - 1 - 1 Net loss - - - - (2,621 ) (2,621 ) Balance, June 30, 2022 150 5,231,030 75 326,672 (311,996 ) 14,751 Common stock awards under equity incentive plans - - 492 - 492 Common stock issued to vendor - 600 - 2 - 2 Other - 10,447 - - - - Net loss - - - - (2,042 ) (2,042 ) Balance, September 30, 2022 150 5,242,077 $ 75 $ 327,166 $ (314,038 ) $ 13,203 Shares Preferred Preferred Common Accumulated Series G Common Stock Stock Deficit Equity Balance, December 31, 2020 225 4,523,809 $ 112 $ 322,218 $ (298,910 ) $ 23,420 Common stock awards under equity incentive plans - 2,994 - 250 - 250 Common stock issued to vendor - 600 - 3 - 3 Other - - - (3 ) - (3 ) Net income - - - - 591 591 Balance, March 31, 2021 225 4,527,403 112 322,468 (298,319 ) 24,261 Common stock awards under equity incentive plans - 2,964 - 290 - 290 Common stock issued to vendor - 600 - 5 - 5 Exercise of common stock warrants - 17,794 - 171 - 171 Other - - - 3 - 3 Net loss - - - - (1,923 ) (1,923 ) Balance, June 30, 2021 225 4,548,761 112 322,937 (300,242 ) 22,807 Common stock awards under equity incentive plans - 38,978 - 287 - 287 Common stock issued to vendor - 600 - 5 - 5 Sale of common stock and common stock warrants, net of costs - 3,062,395 - 2,725 - 2,725 Exercise of common stock warrant - 1,500,000 - - - - Conversion of preferred stock into common stock (75 ) 71,174 (37 ) 37 - - Net loss - - - - (2,213 ) (2,213 ) Balance, September 30, 2021 150 9,221,908 $ 75 $ 325,991 $ (302,455 ) $ 23,611 |
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended September 30, 2022 June 30, 2022 March 31, 2022 Stock options $ 28 $ 21 $ 29 Restricted stock units 464 125 212 Compensation expense related to common stock awards issued under equity incentive plan $ 492 $ 146 $ 241 |
Share-Based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | Restricted Stock Units (Issued under 2014 Plan) Stock Units Issued to Vendors Number of Units Unrecognized Stock Compensation (in thousands) Weighted Average Expense Period (Years) Number of Units Unrecognized Stock Compensation (in thousands) Weighted Average Expense Period (Years) Nonvested at December 31, 2021 126,603 $ (658 ) 0.9 - $ - - Granted 37,000 (153 ) 2.0 - - - Forfeited (1,000 ) 7 0.7 - - - Vested with service (22,475 ) - - - - - Expensed - 212 - - - - Nonvested at March 31, 2022 140,128 (592 ) 0.9 - - - Impact of Modification: - - - Before modification (11,468 ) 125 - - - - After modification 11,468 (60 ) - - - - Forfeited (9,454 ) 55 - - - - Vested with Service (34,404 ) - - - - - Expensed - 125 - - - - Nonvested at June 30, 2022 96,270 (347 ) 0.9 - - - Granted 402,276 (1,458 ) 2.8 38,968 (65 ) 3.0 Vested with Service (63,607 ) - - - - - Expensed - 464 - - - - Nonvested at September 30, 2022 434,939 $ (1,341 ) 2.5 38,968 $ (65 ) 3.0 Number of RSUs Vested at December 31, 2021 86,505 Vested with service 22,475 Issued at vesting (22,475 ) Vested at March 31, 2022 86,505 Vested with service 34,404 Issued at termination of service (48,386 ) Vested at June 30, 2022 72,523 Vested with service 63,607 Vested at September 30, 2022 136,130 |
Note 11 - Loss Per Share (EPS)
Note 11 - Loss Per Share (EPS) (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 NUMERATOR (in thousands): Numerator for basic and diluted EPS - net loss $ (2,042 ) $ (2,213 ) $ (6,179 ) $ (3,545 ) DENOMINATOR: Weighted average number of shares of shares of common stock outstanding 5,235,005 4,662,004 5,203,504 4,575,587 Weighted average number of shares of common stock underlying vested RSUs 97,303 83,680 87,276 56,293 Denominator for basic and diluted EPS - weighted average number of shares outstanding 5,332,308 4,745,684 5,290,780 4,631,880 |
Note 12 - Fair Value Measurem_2
Note 12 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2022 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Level 1 Level 2 Level 3 Total Total liabilities at fair value as of September 30, 2022 - Derivative warrant liability $ - $ - $ 234 $ 234 Total liabilities at fair value as of December 31, 2021 - Derivative warrant liability $ - $ - $ 258 $ 258 Total liabilities at fair value as of September 30, 2021 - Derivative warrant liability $ - $ - $ 647 $ 647 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Fair Value as of Beginning of Period Total Realized and Unrealized Gains (Losses) Issuance of New Instruments Net Transfers (Into) Out of Level 3 Fair Value, at End of Period Change in Unrealized Gains (Losses) on Instruments Still Held Three months ended September 30, 2022 Total Level 3 fair value - Derivative warrant liability $ 846 $ 612 $ - $ - $ 234 $ 612 Nine months ended September 30, 2022: Total Level 3 fair value - Derivative warrant liability $ 258 $ 24 $ - $ - $ 234 $ 24 Three and nine months ended September 30, 2021 Total Level 3 fair value - Derivative warrant liability $ - $ - $ 647 $ - $ 647 $ - |
Warrants, Valuation Assumption [Table Text Block] | September 30, 2022 December 31, 2021 Assumed volatility 88.3 % 69.5 % Assumed risk free interest rate 3.2 % 0.8 % Expected life of options (in years) 4.0 4.8 Expected dividends - - |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation (Details Textual) | Aug. 26, 2022 |
Reverse Stock Split [Member] | |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 10 |
Note 2 - Business (Details Text
Note 2 - Business (Details Textual) | 9 Months Ended |
Sep. 30, 2022 | |
Number of Reporting Units | 1 |
Number of Operating Segments | 1 |
Stabilized Rice Bran (SRB) [Member] | |
Number of Manufacturing and Distribution Locations | 4 |
Stabilized Rice Bran (SRB) [Member] | CALIFORNIA | |
Number of Manufacturing and Distribution Locations | 2 |
Stabilized Rice Bran (SRB) [Member] | LOUISIANA | |
Number of Manufacturing and Distribution Locations | 1 |
Note 4 - Cash and Cash Equiva_2
Note 4 - Cash and Cash Equivalents (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Cash and Cash Equivalents, at Carrying Value, Total | $ 4,374 | $ 5,825 |
Money Market Funds [Member] | ||
Cash and Cash Equivalents, at Carrying Value, Total | $ 2,700 |
Note 5 - Accounts Receivable _3
Note 5 - Accounts Receivable and Revenues (Details Textual) - USD ($) $ in Millions | Sep. 30, 2022 | Sep. 30, 2021 |
Contract with Customer, Liability, Total | $ 0.1 | $ 0.1 |
Note 5 - Accounts Receivable _4
Note 5 - Accounts Receivable and Revenues - Revenues and Accounts Receivable from Significant Customers (Details) - Customer Concentration Risk [Member] | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Revenue Benchmark [Member] | Customer A [Member] | |||||
Concentration risk, percentage | 15% | 21% | 13% | 10% | |
Revenue Benchmark [Member] | Customer B [Member] | |||||
Concentration risk, percentage | 5% | 7% | 8% | 11% | |
Revenue Benchmark [Member] | Customer C [Member] | |||||
Concentration risk, percentage | 11% | 0% | 5% | 1% | |
Revenue Benchmark [Member] | Customer D [Member] | |||||
Concentration risk, percentage | 0% | 9% | 2% | 11% | |
Accounts Receivable [Member] | Customer A [Member] | |||||
Concentration risk, percentage | 13% | 15% | |||
Accounts Receivable [Member] | Customer B [Member] | |||||
Concentration risk, percentage | 7% | 8% | |||
Accounts Receivable [Member] | Customer C [Member] | |||||
Concentration risk, percentage | 17% | 0% | |||
Accounts Receivable [Member] | Customer D [Member] | |||||
Concentration risk, percentage | 0% | 9% |
Note 5 - Accounts Receivable _5
Note 5 - Accounts Receivable and Revenues - Revenues by Product Line (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Revenues | $ 10,252 | $ 6,909 | $ 31,001 | $ 23,088 |
UNITED STATES | ||||
Revenues | 9,876 | 6,450 | 30,034 | 21,867 |
Other Countries [Member] | ||||
Revenues | $ 376 | $ 459 | $ 967 | $ 1,221 |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment (Details Textual) - USD ($) $ in Millions | Sep. 30, 2022 | Dec. 31, 2021 |
Construction Payable, Current | $ 0.1 | $ 0.2 |
Construction in Progress, Gross | $ 1.1 | $ 0.9 |
Note 6- Property and Equipment
Note 6- Property and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2022 | Dec. 31, 2021 | |
Property, plant, and equipment gross | $ 28,969 | $ 28,847 |
Property, plant, and equipment accumulated depreciation | 14,340 | 13,403 |
Property and equipment, net | 14,629 | 15,444 |
Land [Member] | ||
Property, plant, and equipment gross | 730 | 730 |
Furniture and Fixtures [Member] | ||
Property, plant, and equipment gross | $ 259 | 265 |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 5 years | |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 10 years | |
Plant [Member] | ||
Property, plant, and equipment gross | $ 10,094 | 10,457 |
Plant [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 20 years | |
Plant [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 40 years | |
Computer and Software [Member] | ||
Property, plant, and equipment gross | $ 450 | 452 |
Computer and Software [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 3 years | |
Computer and Software [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 5 years | |
Leasehold Improvements [Member] | ||
Property, plant, and equipment gross | $ 1,838 | 1,828 |
Leasehold Improvements [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 4 years | |
Leasehold Improvements [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 15 years | |
Machinery and Equipment [Member] | ||
Property, plant, and equipment gross | $ 15,598 | $ 15,115 |
Machinery and Equipment [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 5 years | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 15 years |
Note 7 - Leases (Details Textua
Note 7 - Leases (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Dec. 31, 2021 | |
Finance Lease, Right-of-Use Asset, before Accumulated Amortization | $ 0.9 | $ 0.9 | $ 0.5 | ||
Right-of-Use Asset Obtained in Exchange for Finance Lease Liability | 0.1 | $ 0.1 | 0.3 | $ 0.1 | |
Property and Equipment [Member] | |||||
Finance Lease, Right-of-Use Asset, after Accumulated Amortization, Total | $ 0.6 | $ 0.6 | $ 0.2 |
Note 7 - Leases - Components of
Note 7 - Leases - Components of Lease Expense and Cash Flows from Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Amortization of right-of use assets, included in cost of goods sold | $ 20 | $ 24 | $ 59 | $ 67 |
Interest on lease liabilities | 6 | 2 | 11 | 8 |
Fixed leases cost | 129 | 129 | 387 | 387 |
Variable lease cost | 39 | 37 | 125 | 112 |
Short-term lease cost | 41 | 21 | 62 | 60 |
Total lease cost | 235 | 213 | 644 | 634 |
Operating cash flows from finance leases | 6 | 2 | 11 | 8 |
Operating cash flows from operating leases | 129 | 129 | 387 | 387 |
Financing cash flows from finance leases | $ 22 | $ 23 | $ 68 | $ 73 |
Note 7 - Leases - Remaining Ter
Note 7 - Leases - Remaining Terms and Discount Rates (Details) | Sep. 30, 2022 |
Weighted average remaining lease terms (in years), operating leases (Year) | 5 years 8 months 12 days |
Weighted average remaining lease terms (in years), finance leases (Year) | 3 years |
Weighted average discount rate, operating leases | 7.80% |
Weighted average discount rate, finance leases | 8.10% |
Minimum [Member] | |
Remaining leases terms (in years), operating leases (Year) | 1 year |
Remaining leases terms (in years), finance leases (Year) | 4 months 24 days |
Discount rates, operating leases | 6.30% |
Discount rates, finance leases | 2.80% |
Maximum [Member] | |
Remaining leases terms (in years), operating leases (Year) | 10 years 4 months 24 days |
Remaining leases terms (in years), finance leases (Year) | 5 years |
Discount rates, operating leases | 9% |
Discount rates, finance leases | 10.40% |
Note 7 - Leases - Maturities of
Note 7 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Sep. 30, 2022 USD ($) |
2022, operating leases | $ 122 |
2022, finance leases | 52 |
2023, operating leases | 528 |
2023, finance leases | 158 |
2024, operating leases | 429 |
2024, finance leases | 117 |
2025, operating leases | 440 |
2025, finance leases | 102 |
2026, operating leases | 450 |
2026, finance leases | 100 |
Thereafter, operating leases | 578 |
Thereafter, finance leases | 60 |
Total lease payments, operating leases | 2,547 |
Total lease payments, finance leases | 589 |
Amounts representing interest, operating leases | (517) |
Amounts representing interest, finance leases | (102) |
Present value of lease obligations, operating leases | 2,030 |
Present value of lease obligations, finance leases | $ 487 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | 10 Months Ended | 12 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | Oct. 31, 2019 | Dec. 31, 2021 | |
Factoring Agreement [Member] | Line of Credit [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,000 | |||||
Debt Instrument, Term (Year) | 2 years | |||||
Debt Instrument, Fee Amount | $ 200 | |||||
Line of Credit Facility, Funding Fee, Percentage Above Prime Rate | 0.50% | |||||
Line of Credit Facility, Funding Fee, Minimum Percentage | 5.50% | |||||
Line of Credit Facility, Average Outstanding Amount | $ 3,150 | $ 1,522 | $ 3,036 | $ 1,324 | ||
Mortgage Agreement [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 7% | 7% | 7% | |||
Proceeds from Issuance of Debt | $ 900 | |||||
Debt Instrument, Basis Spread on Variable Rate | 13.30% | 10.30% | ||||
Mortgage Agreement [Member] | Prime Rate [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.30% | 10.30% | ||||
Debt Instrument, Basis Spread on Variable Rate | 7% | |||||
Debt Instrument, Interest Rate, Effective Percentage | 13.30% | 13.30% | ||||
Line of Credit With Bank [Member] | ||||||
Debt Instrument, Interest Rate, Effective Percentage | 6.30% | 6.30% | ||||
Long-Term Line of Credit, Total | $ 1,800 | $ 1,800 | ||||
Line of Credit Facility, Average Outstanding Amount | $ 1,500 | $ 500 | ||||
Finance Agreements for Annual Insurance Premiums [Member] | Minimum [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.50% | 3.50% | ||||
Finance Agreements for Annual Insurance Premiums [Member] | Maximum [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 3.90% | 3.90% |
Note 8 - Debt - Due Under Facto
Note 8 - Debt - Due Under Factoring Agreement (Details) - Line of Credit [Member] - Factoring Agreement [Member] - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2022 | Sep. 30, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Average borrowings outstanding (in thousands) | $ 3,150 | $ 1,522 | $ 3,036 | $ 1,324 |
Amortization of debt issuance costs (in thousands) | $ 0 | $ 23 | $ 0 | $ 68 |
Interest paid, as a percentage of average outstanding borrowings | 1.60% | 2% | 1.40% | 5% |
Fees paid, as a percentage of average outstanding borrowings | 1.60% | 1.60% | 1.20% | 5% |
Note 8 - Debt - Long-term Debt
Note 8 - Debt - Long-term Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
Total long term debt, net | $ 1,698 | $ 2,539 |
Mortgage Agreement [Member] | ||
Total long term debt, net | 1,614 | 2,469 |
Progress Payment Agreement [Member] | ||
Total long term debt, net | 37 | 0 |
Equipment Notes, May 2021 [Member] | Notes Payable, Other Payables [Member] | ||
Total long term debt, net | 27 | 33 |
Equipment Notes, December 2019 [Member] | Notes Payable, Other Payables [Member] | ||
Total long term debt, net | 20 | 26 |
Equipment Notes, November 2018 [Member] | ||
Total long term debt, net | $ 0 | $ 11 |
Note 8 - Debt - Long-term Deb_2
Note 8 - Debt - Long-term Debt (Details) (Parentheticals) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Sep. 30, 2022 | Dec. 31, 2021 | |
Issuance costs | $ 10 | |
Mortgage Agreement [Member] | ||
Interest rate | 7% | 7% |
Interest rate, variable | 13.30% | 10.30% |
Issuance costs | $ 11 | $ 11 |
Original principal | $ 2,500 | $ 2,500 |
Maturity date | Dec. 31, 2023 | Dec. 31, 2023 |
Progress Payment Agreement [Member] | ||
Interest rate | 25.20% | |
Original principal | $ 37 | |
Maturity date | Nov. 30, 2022 | |
Equipment Notes, May 2021 [Member] | Notes Payable, Other Payables [Member] | ||
Original principal | $ 46 | $ 46 |
Maturity date | Jun. 30, 2025 | Jun. 30, 2025 |
Interest rate, effective rate | 3.60% | 3.60% |
Equipment Notes, December 2019 [Member] | Notes Payable, Other Payables [Member] | ||
Original principal | $ 40 | $ 40 |
Maturity date | Dec. 31, 2024 | Dec. 31, 2024 |
Interest rate, effective rate | 9.30% | 9.30% |
Equipment Notes, November 2018 [Member] | ||
Maturity date | Aug. 30, 2022 | |
Interest rate, effective rate | 4.80% |
Note 8 - Debt - Future Principa
Note 8 - Debt - Future Principal Maturities of Long-term Debt Outstanding (Details) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 |
2022 (three months ended December 31, 2022) | $ 347 | |
2023 | 1,337 | |
2024 | 19 | |
2025 | 5 | |
Principal maturities | 1,708 | |
Debt issuance costs | (10) | |
Long-Term Debt, Total | $ 1,698 | $ 2,539 |
Note 9 - Equity, Share-based _3
Note 9 - Equity, Share-based Compensation and Warrants (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||||||||||
Nov. 03, 2022 | Sep. 30, 2022 | Jul. 14, 2022 | Oct. 31, 2022 | Sep. 30, 2022 | Apr. 30, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2022 | Apr. 28, 2022 | Dec. 31, 2021 | Sep. 13, 2021 | |
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Forfeitures and Expirations in Period, Total (in shares) | 2,901 | 4,455 | 970 | ||||||||||
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price (in dollars per share) | $ 19.30 | $ 21.42 | $ 18.48 | ||||||||||
Share-based Compensation Arrangement By Share-based Payment Award Options Forfeitures and Expirations, Weighted Average Remaining Contractual Term (Year) | 6 years 10 months 24 days | 6 years 9 months 18 days | 7 years 8 months 12 days | ||||||||||
The Warrant [Member] | |||||||||||||
Class of Warrant or Right, Warrants Expired During Period (in shares) | 25,000 | 614,298 | |||||||||||
Class of Warrant or Right, Expired, Exercise Price (in dollars per share) | $ 9.60 | $ 9.60 | |||||||||||
Warrant A [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 230,769 | 230,769 | 230,769 | 230,769 | |||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 2.72 | $ 2.72 | $ 2.72 | $ 2.72 | $ 10 | ||||||||
Subsequent Event [Member] | |||||||||||||
Proceeds from Issuance or Sale of Equity, Total | $ 1,200,000 | ||||||||||||
Payments of Stock Issuance Costs | $ 300,000 | ||||||||||||
Subsequent Event [Member] | Registered Direct Offering [Member] | |||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 675,000 | ||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1.50 | ||||||||||||
Subsequent Event [Member] | The Prefunded Warrants [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 325,000 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.0001 | ||||||||||||
Class of Warrant or Right, Securities Called by Warrants or Rights, Price per Warrant (in dollars per share) | $ 1.4999 | ||||||||||||
Subsequent Event [Member] | Warrants Issued in Private Placement [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,000,000 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.60 | ||||||||||||
Subsequent Event [Member] | Placement Agent Warrants [Member] | |||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 63,000 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1.875 | ||||||||||||
Deferred Restricted Stock Units (RSUs) [Member] | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 136,130 | 136,130 | 136,130 | 136,130 | |||||||||
Restricted Stock Units (RSUs) [Member] | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 434,939 | 434,939 | 434,939 | 96,270 | 140,128 | 434,939 | 126,603 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 402,276 | 37,000 | |||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 48,386 | 22,475 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non Option Equity Instruments Impact of Warrant Modification, Prior To Modification (in shares) | 11,468 | 11,468 | |||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Fair Value (in dollars per share) | $ 5.20 | ||||||||||||
Restricted Stock Units (RSUs) [Member] | Director [Member] | Vesting on July 14, 2023 [Member] | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 65,790 | ||||||||||||
Restricted Stock Units (RSUs) [Member] | Director [Member] | Immediately Vested [Member] | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 30,279 | 19,003 | |||||||||||
Restricted Stock Units (RSUs) [Member] | Employees [Member] | Immediately Vested [Member] | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 9,053 | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Month) | 8 months | ||||||||||||
Stock Units [Member] | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 38,968 | 38,968 | 38,968 | 0 | 0 | 38,968 | 0 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 38,968 | 0 | |||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 38,968 | ||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Cash Signing Fee | $ 0.2 | $ 0.2 | $ 0.2 | $ 0.2 | |||||||||
Aggregate Number of Shares Purchased, Maximum (in shares) | 1,000,000 | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Non Option Equity Instruments Impact of Warrant Modification, Prior To Modification (in shares) | 0 | ||||||||||||
Stock Units [Member] | Subsequent Event [Member] | |||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 121,032 | ||||||||||||
Modified RSUs [Member] | |||||||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Gross (in shares) | 11,468 | ||||||||||||
The 2014 Equity Incentive Plan [Member] | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized (in shares) | 600,000 | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant (in shares) | 228,201 | 228,201 | 228,201 | 228,201 | |||||||||
The 2014 Equity Incentive Plan [Member] | Restricted Stock Units (RSUs) [Member] | |||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | 278,151 | ||||||||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Vesting Period (Month) | 49 months |
Note 9 - Equity, Share-based _4
Note 9 - Equity, Share-based Compensation and Warrants - Stockholders Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Balance (in shares) | 5,158,967 | 5,158,967 | ||||||
Balance | $ 14,751 | $ 17,225 | $ 18,495 | $ 22,807 | $ 24,261 | $ 23,420 | $ 18,495 | $ 23,420 |
Common stock awards under equity incentive plans | 492 | 146 | 241 | 287 | 290 | 250 | ||
Common stock issued to vendor | 2 | 1 | 5 | 5 | 5 | 3 | ||
Net income (loss) | (2,042) | (2,621) | (1,516) | (2,213) | (1,923) | 591 | (6,179) | (3,545) |
Net income (loss) | $ (2,042) | (2,621) | (1,516) | (2,213) | (1,923) | 591 | $ (6,179) | (3,545) |
Balance (in shares) | 5,242,077 | 5,242,077 | ||||||
Balance | $ 13,203 | 14,751 | 17,225 | 23,611 | 22,807 | 24,261 | $ 13,203 | 23,611 |
Other | 3 | (3) | ||||||
Exercise of common stock warrants | 0 | 171 | ||||||
Sale of common stock and common stock warrants, net of costs | 2,725 | |||||||
Conversion of preferred stock into common stock | 0 | |||||||
Preferred Stock [Member] | ||||||||
Balance | 75 | 75 | 75 | 112 | 112 | 112 | 75 | 112 |
Common stock awards under equity incentive plans | 0 | 0 | 0 | 0 | 0 | 0 | ||
Common stock issued to vendor | 0 | 0 | 0 | 0 | 0 | 0 | ||
Net income (loss) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Net income (loss) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Balance | $ 75 | $ 75 | $ 75 | 75 | 112 | 112 | $ 75 | $ 75 |
Other | 0 | $ 0 | ||||||
Exercise of common stock warrants | 0 | $ 0 | ||||||
Sale of common stock and common stock warrants, net of costs | 0 | |||||||
Conversion of preferred stock into common stock | $ (37) | |||||||
Preferred Stock [Member] | Series G Preferred Stock [Member] | ||||||||
Balance (in shares) | 150 | 150 | 150 | 225 | 225 | 225 | 150 | 225 |
Common stock awards under equity incentive plans (in shares) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Common stock issued to vendor (in shares) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Other (in shares) | 0 | |||||||
Balance (in shares) | 150 | 150 | 150 | 150 | 225 | 225 | 150 | 150 |
Exercise of common stock warrants (in shares) | 0 | 0 | ||||||
Sale of common stock and common stock warrants, net of costs (in shares) | 0 | |||||||
Conversion of preferred stock into common stock (in shares) | (75) | |||||||
Common Stock [Member] | ||||||||
Balance (in shares) | 5,231,030 | 5,182,042 | 5,158,967 | 4,548,761 | 4,527,403 | 4,523,809 | 5,158,967 | 4,523,809 |
Balance | $ 326,672 | $ 326,525 | $ 326,279 | $ 322,937 | $ 322,468 | $ 322,218 | $ 326,279 | $ 322,218 |
Common stock awards under equity incentive plans (in shares) | 48,388 | 22,475 | 38,978 | 2,964 | 2,994 | |||
Common stock awards under equity incentive plans | $ 492 | $ 146 | $ 241 | $ 287 | $ 290 | $ 250 | ||
Common stock issued to vendor (in shares) | 600 | 600 | 600 | 600 | 600 | 600 | ||
Common stock issued to vendor | $ 2 | $ 1 | $ 5 | $ 5 | $ 5 | $ 3 | ||
Net income (loss) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Net income (loss) | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | $ 0 | ||
Other (in shares) | 10,447 | |||||||
Balance (in shares) | 5,242,077 | 5,231,030 | 5,182,042 | 9,221,908 | 4,548,761 | 4,527,403 | 5,242,077 | 9,221,908 |
Balance | $ 327,166 | $ 326,672 | $ 326,525 | $ 325,991 | $ 322,937 | $ 322,468 | $ 327,166 | $ 325,991 |
Other | $ 3 | (3) | ||||||
Exercise of common stock warrants (in shares) | 1,500,000 | 17,794 | ||||||
Exercise of common stock warrants | $ 0 | $ 171 | ||||||
Sale of common stock and common stock warrants, net of costs (in shares) | 3,062,395 | |||||||
Sale of common stock and common stock warrants, net of costs | $ 2,725 | |||||||
Conversion of preferred stock into common stock (in shares) | 71,174 | |||||||
Conversion of preferred stock into common stock | $ 37 | |||||||
Retained Earnings [Member] | ||||||||
Balance | (311,996) | (309,375) | (307,859) | (300,242) | (298,319) | (298,910) | (307,859) | (298,910) |
Common stock awards under equity incentive plans | 0 | 0 | 0 | 0 | 0 | 0 | ||
Common stock issued to vendor | 0 | 0 | 0 | 0 | 0 | 0 | ||
Net income (loss) | (2,042) | (2,621) | (1,516) | (2,213) | (1,923) | 591 | ||
Net income (loss) | (2,042) | (2,621) | (1,516) | (2,213) | (1,923) | 591 | ||
Balance | $ (314,038) | $ (311,996) | $ (309,375) | (302,455) | (300,242) | (298,319) | $ (314,038) | $ (302,455) |
Other | 0 | $ 0 | ||||||
Exercise of common stock warrants | 0 | $ 0 | ||||||
Sale of common stock and common stock warrants, net of costs | 0 | |||||||
Conversion of preferred stock into common stock | $ 0 |
Note 9 - Equity, Share-based _5
Note 9 - Equity, Share-based Compensation and Warrants - Share-based Compensation Expenses Related to Employees and Directors (Details) - The 2014 Equity Incentive Plan [Member] - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | |
Compensation expense related to common stock awards issued under equity incentive plans | $ 492 | $ 146 | $ 241 |
Share-Based Payment Arrangement, Option [Member] | |||
Compensation expense related to common stock awards issued under equity incentive plans | 28 | 21 | 29 |
Restricted Stock Units (RSUs) [Member] | |||
Compensation expense related to common stock awards issued under equity incentive plans | $ 464 | $ 125 | $ 212 |
Note 9 - Equity, Share-based _6
Note 9 - Equity, Share-based Compensation and Warrants - Restricted Stock Unit Activity (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | ||
Apr. 30, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | |
Restricted Stock Units (RSUs) [Member] | ||||
Nonvested, shares issued (in shares) | 140,128 | 96,270 | 140,128 | 126,603 |
Nonvested, unrecognized stock compensation | $ (592) | $ (347) | $ (592) | $ (658) |
Nonvested (Year) | 2 years 6 months | 10 months 24 days | 10 months 24 days | |
Granted, nonvested, shares issued (in shares) | 402,276 | 37,000 | ||
Granted, unrecognized stock compensation | $ (1,458) | $ (153) | ||
Granted (Year) | 2 years 9 months 18 days | 2 years | ||
Forfeited, shares issued (in shares) | (9,454) | (1,000) | ||
Forfeited, unrecognized stock compensation | $ 55 | $ 7 | ||
Forfeited (Year) | 8 months 12 days | |||
Forfeited, unrecognized stock compensation | $ 55 | $ 7 | ||
Vested with Service, shares issued (in shares) | (63,607) | (34,404) | (22,475) | |
Expensed, unrecognized stock compensation | $ 464 | $ 125 | $ 212 | |
Before modification, shares issued (in shares) | (11,468) | (11,468) | ||
Before modification, unrecognized stock compensation | $ 125 | |||
After modificaiton, shares issued (in shares) | 11,468 | |||
After modificaiton, unrecognized stock compensation | $ (60) | |||
Nonvested, shares issued (in shares) | 434,939 | 96,270 | 140,128 | |
Nonvested, unrecognized stock compensation | $ (1,341) | $ (347) | $ (592) | |
Vested, balance (in shares) | 86,505 | 72,523 | 86,505 | 86,505 |
Vested with service (in shares) | 63,607 | 34,404 | 22,475 | |
Issued at vesting (in shares) | (22,475) | |||
Issued at termination of service (in shares) | (48,386) | |||
Vested, balance (in shares) | 136,130 | 72,523 | 86,505 | |
Stock Units [Member] | ||||
Nonvested, shares issued (in shares) | 0 | 0 | 0 | 0 |
Nonvested, unrecognized stock compensation | $ 0 | $ 0 | $ 0 | $ 0 |
Nonvested (Year) | 3 years | |||
Granted, nonvested, shares issued (in shares) | 38,968 | 0 | ||
Granted, unrecognized stock compensation | $ (65) | $ 0 | ||
Granted (Year) | 3 years | |||
Forfeited, shares issued (in shares) | 0 | 0 | ||
Forfeited, unrecognized stock compensation | $ 0 | $ 0 | ||
Forfeited, unrecognized stock compensation | $ 0 | $ 0 | ||
Vested with Service, shares issued (in shares) | 0 | 0 | 0 | |
Expensed, unrecognized stock compensation | $ 0 | $ 0 | $ 0 | |
Before modification, shares issued (in shares) | 0 | |||
Before modification, unrecognized stock compensation | $ 0 | |||
After modificaiton, shares issued (in shares) | 0 | |||
After modificaiton, unrecognized stock compensation | $ 0 | |||
Nonvested, shares issued (in shares) | 38,968 | 0 | 0 | |
Nonvested, unrecognized stock compensation | $ (65) | $ 0 | $ 0 | |
Vested with service (in shares) | 0 | 0 | 0 |
Note 11 - Loss Per Share (EPS_2
Note 11 - Loss Per Share (EPS) - EPS Compensations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2022 | Sep. 30, 2021 | |
Net income (loss) | $ (2,042) | $ (2,621) | $ (1,516) | $ (2,213) | $ (1,923) | $ 591 | $ (6,179) | $ (3,545) |
Weighted average number of shares of shares of common stock outstanding (in shares) | 5,235,005 | 4,662,004 | 5,203,504 | 4,575,587 | ||||
Weighted average number of shares of common stock underlying vested RSUs (in shares) | 97,303 | 83,680 | 87,276 | 56,293 | ||||
Denominator for basic and diluted EPS - weighted average number of shares outstanding (in shares) | 5,332,308 | 4,745,684 | 5,290,780 | 4,631,880 |
Note 12 - Fair Value Measurem_3
Note 12 - Fair Value Measurements (Details Textual) $ / shares in Units, $ in Thousands | 9 Months Ended | ||
Sep. 13, 2021 $ / shares shares | Sep. 30, 2022 USD ($) $ / shares shares | Dec. 31, 2021 | |
Warrant A [Member] | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 230,769 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 10 | $ 2.72 | |
Warrant A [Member] | Derivative Financial Instruments, Liabilities [Member] | |||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 230,769 | ||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 10 | $ 2.72 | |
Class of Warrant or Right, Change in Exercise Price, Maximum Percentage of Five-day Volume Weighted Average Common Stock | 110% | ||
Warrants and Rights Outstanding, Measurement Input | 2.72 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Operating Lease, Fair Value In Excess Of Carrying Amount | $ | $ 500 | ||
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | Measurement Input, Exercise Price [Member] | |||
Warrants and Rights Outstanding, Measurement Input | 10 | ||
Warrant, Exercise Price, Increase (in dollars per share) | $ 0.18 | ||
Warrant, Exercise Price, Increased Percentage | 10% | ||
Fair Value Adjustment of Warrants | $ | $ 32 |
Note 12 - Fair Value Measurem_4
Note 12 - Fair Value Measurement - Fair Value of Liabilities on Recurring Basis (Details) - Fair Value, Recurring [Member] - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 |
Total liabilities at fair value as of September 30, 2022 - Derivative warrant liability | $ 234 | $ 258 | $ 647 |
Fair Value, Inputs, Level 1 [Member] | |||
Total liabilities at fair value as of September 30, 2022 - Derivative warrant liability | 0 | 0 | 0 |
Fair Value, Inputs, Level 2 [Member] | |||
Total liabilities at fair value as of September 30, 2022 - Derivative warrant liability | 0 | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | |||
Total liabilities at fair value as of September 30, 2022 - Derivative warrant liability | $ 234 | $ 258 | $ 647 |
Note 12 - Fair Value Measurem_5
Note 12 - Fair Value Measurement - Changes in Level 3 Items Measured at Fair Value (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2022 | Sep. 30, 2022 | Sep. 30, 2021 | |
Fair value, balance | $ 846 | $ 258 | $ 0 |
Total realized and unrealized gains (losses | 612 | 24 | 0 |
Issuance of new instruments | 0 | 0 | 647 |
Net transfers (into) out of level 3 | 0 | 0 | 0 |
Fair value, balance | 234 | 234 | 647 |
Change in unrealized gains (losses) on instruments still held | $ 612 | $ 24 | $ 0 |
Note 12 - Fair Value Measurem_6
Note 12 - Fair Value Measurement - Fair Value Assumption Measurement of Warrant A (Details) | Sep. 30, 2022 | Dec. 31, 2021 |
Measurement Input, Price Volatility [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 88.3 | 69.5 |
Measurement Input, Risk Free Interest Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0.032 | 0.008 |
Measurement Input, Expected Term [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 4 | 4.8 |
Measurement Input, Expected Dividend Rate [Member] | ||
Warrants and Rights Outstanding, Measurement Input | 0 | 0 |
Note 13 - Commitments and Con_2
Note 13 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | Sep. 30, 2022 | Dec. 31, 2021 | Apr. 30, 2020 |
Long-Term Debt, Total | $ 1,698 | $ 2,539 | |
Paycheck Protection Program CARES Act [Member] | |||
Long-Term Debt, Total | $ 1,800 |