Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2023 | May 10, 2023 | |
Document And Entity Information [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Mar. 31, 2023 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q1 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Registrant Name | ELECTRO SENSORS INC | |
Entity Central Index Key | 0000351789 | |
Current Fiscal Year End Date | --12-31 | |
Entity Current Reporting Status | Yes | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding | 3,428,021 | |
Trading Symbol | ELSE | |
Entity Emerging Growth Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 000-09587 | |
Entity Incorporation, State or Country Code | MN | |
Entity Tax Identification Number | 41-0943459 | |
Entity Address, Address Line One | 6111 Blue Circle Drive | |
Entity Address, City or Town | Minnetonka | |
Entity Address, State or Province | MN | |
Entity Address, Postal Zip Code | 55343-9108 | |
City Area Code | 952 | |
Local Phone Number | 930-0100 | |
Title of 12(b) Security | Common stock, $0.10 par value | |
Security Exchange Name | NASDAQ | |
Entity Interactive Data Current | Yes | |
Entity Shell Company | false |
Condensed Balance Sheets
Condensed Balance Sheets - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Current assets | ||
Cash and cash equivalents | $ 5,540 | $ 7,646 |
Investments | 4,023 | 2,036 |
Trade receivables, less allowance for credit losses of $11 | 1,372 | 1,161 |
Inventories | 1,779 | 1,745 |
Other current assets | 215 | 214 |
Income tax receivable | 0 | 11 |
Total current assets | 12,929 | 12,813 |
Deferred income tax asset, net | 306 | 256 |
Property and equipment, net | 952 | 975 |
Total assets | 14,187 | 14,044 |
Current liabilities | ||
Current maturities of financing lease | 4 | 6 |
Accounts payable | 357 | 274 |
Accrued expenses | 423 | 350 |
Accrued income taxes | 37 | 0 |
Total current liabilities | 821 | 630 |
Commitments and contingencies | ||
Stockholders' equity | ||
Common stock par value $0.10 per share; authorized 10,000,000 shares; 3,428,021 shares issued and outstanding, respectively | 342 | 342 |
Additional paid-in capital | 2,163 | 2,163 |
Retained earnings | 10,864 | 10,908 |
Accumulated other comprehensive income (loss) (unrealized income (loss) on available-for-sale securities, net of income tax) | (3) | 1 |
Total stockholders' equity | 13,366 | 13,414 |
Total liabilities and stockholders' equity | $ 14,187 | $ 14,044 |
Condensed Balance Sheets (Paren
Condensed Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Balance Sheets [Abstract] | ||
Trade receivables, allowance for credit losses | $ 11 | $ 11 |
Common stock, par value | $ 0.1 | $ 0.1 |
Common stock, shares authorized | 10,000,000 | 10,000,000 |
Common stock, shares issued | 3,428,021 | 3,428,021 |
Common stock, shares outstanding | 3,428,021 | 3,428,021 |
Condensed Statements Of Compreh
Condensed Statements Of Comprehensive Loss - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Statements of Comprehensive Loss [Abstract] | ||
Net sales | $ 2,045 | $ 2,135 |
Cost of goods sold | 1,023 | 969 |
Gross profit | 1,022 | 1,166 |
Operating expenses | ||
Selling and marketing | 370 | 446 |
General and administrative | 522 | 503 |
Research and development | 268 | 231 |
Total operating expenses | 1,160 | 1,180 |
Operating loss | (138) | (14) |
Non-operating income | ||
Interest income | 93 | 1 |
Total non-operating income, net | 93 | 1 |
Loss before income tax benefit | (45) | (13) |
Income tax benefit | (1) | (4) |
Net loss | (44) | (9) |
Other comprehensive loss | ||
Change in unrealized value of available-for-sale securities, net of income tax | (4) | 0 |
Other comprehensive loss | (4) | 0 |
Net comprehensive loss | $ (48) | $ (9) |
Basic | ||
Net loss per share | $ (0.01) | $ 0 |
Weighted average shares | 3,428,021 | 3,395,521 |
Diluted | ||
Net loss per share | $ (0.01) | $ 0 |
Weighted average shares | 3,428,021 | 3,395,521 |
Condensed Statements Of Changes
Condensed Statements Of Changes In Stockholders' Equity - USD ($) $ in Thousands | Total | Common Stock Issued [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Accumulated Other Comprehensive Income [Member] |
Beginning Balance at Dec. 31, 2021 | $ 13,188 | $ 339 | $ 2,041 | $ 10,808 | $ 0 |
Beginning Balance, Shares at Dec. 31, 2021 | 3,395,521 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Other comprehensive loss | 0 | ||||
Stock-based compensation expense | 1 | 1 | |||
Net loss | (9) | (9) | |||
Ending Balance at Mar. 31, 2022 | 13,180 | $ 339 | 2,042 | 10,799 | 0 |
Ending Balance, Shares at Mar. 31, 2022 | 3,395,521 | ||||
Beginning Balance at Dec. 31, 2022 | 13,414 | $ 342 | 2,163 | 10,908 | 1 |
Beginning Balance, Shares at Dec. 31, 2022 | 3,428,021 | ||||
Increase (Decrease) in Stockholders' Equity [Roll Forward] | |||||
Other comprehensive loss | (4) | (4) | |||
Net loss | (44) | (44) | |||
Ending Balance at Mar. 31, 2023 | $ 13,366 | $ 342 | $ 2,163 | $ 10,864 | $ (3) |
Ending Balance, Shares at Mar. 31, 2023 | 3,428,021 |
Condensed Statements Of Cash Fl
Condensed Statements Of Cash Flows - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Cash flows used in operating activities | ||
Net loss | $ (44) | $ (9) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 24 | 40 |
Deferred income taxes | (50) | (6) |
Stock-based compensation expense | 0 | 1 |
Interest accrued on treasury bills | (36) | (1) |
Change in: | ||
Trade receivables | (211) | (150) |
Inventories | (34) | (95) |
Other current assets | (1) | (21) |
Accounts payable | 83 | (23) |
Accrued expenses | 73 | 157 |
Income tax receivable/payable | 48 | 1 |
Net cash used in operating activities | (148) | (106) |
Cash flows from (used in) investing activities | ||
Purchases of treasury bills | (3,955) | (1,999) |
Proceeds from the maturity of treasury bills | 2,000 | 3,000 |
Purchase of property and equipment | (1) | (3) |
Net cash from (used in) investing activities | (1,956) | 998 |
Cash flows used in financing activities | ||
Payments on financing lease | (2) | (1) |
Net cash used in financing activities | (2) | (1) |
Net increase (decrease) in cash and cash equivalents | (2,106) | 891 |
Cash and cash equivalents, beginning | 7,646 | 6,713 |
Cash and cash equivalents, ending | 5,540 | 7,604 |
Supplemental cash flow information | ||
Cash paid for income taxes | $ 0 | $ 0 |
Basis of Presentation
Basis of Presentation | 3 Months Ended |
Mar. 31, 2023 | |
Basis of Presentation [Abstract] | |
Basis of Presentation | Note 1 asi s of Pr ese tio The accompanying unaudited financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions and regulations of the Securities and Exchange Commission to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. This report should be read together with the Company’s Annual Report on Form 10-K for the year ended December 31, 2022, including the audited financial statements and footnotes therein. Management believes that the unaudited financial statements include all adjustments, consisting of normal recurring accruals, necessary to fairly state the financial position and results of operations as of March 31, 2023 and for the three-month periods ended March 31, 2023 and 2022, in accordance with accounting principles generally accepted in the United States of America. The results of interim periods may not be indicative of results to be expected for the year. Nature of Business Electro-Sensors, Inc. (the "Company") manufactures and markets a complete line of monitoring and control systems for a wide range of industrial machine applications. The Company uses leading-edge technology to continuously improve its products, with the ultimate goal of manufacturing the industry-preferred product for each of our served markets. The Company sells these products through an internal sales staff, manufacturers’ representatives, and distributors to a wide range of industries that use the products in a variety of applications to monitor process machinery operations. The Company markets its products to customers located throughout the United States, Canada, Latin America, Europe, and Asia. Note 5 provides i nformation regarding the Merger Agreement we entered into on June 10, 2022 and which was terminated January 30, 2023. Trade receivables and credit policies Trade receivables are uncollateralized customer obligations due under normal trade terms generally requiring payment within 30 90 Payments of trade receivables are allocated to the specific invoices identified on the customer’s remittance advice or, if unspecified, are applied to the earliest unpaid invoices. The carrying amount of trade receivables is reduced by an allowance for credit losses that reflects management’s best estimate of the amounts that will not be collected. Management assesses collectability by reviewing trade receivables on a collective and individual basis. In determining the amount of the allowance for credit losses, we consider historical collectability and past due status and make judgements about the creditworthiness of customers based on ongoing credit evaluations. We also consider customer-specific information and current market conditions. Re venue Rec At contract inception, the Company assesses the goods and services to be provided to a customer and identifies a performance obligation for each distinct good or service. We also determine the transaction price for each performance obligation at contract inception. Our contracts, generally in the form of a purchase order, specify the product or service that is to be provided to the customer. The typical contract life is less than one TM Fair Value Measurements The carrying value of trade receivables, accounts payable, and other financial working capital items approximates fair value at March 31, 2023 and December 31, 2022, due to the short maturity nature of these instruments. Stock-Based Compensation The Company records compensation expense for stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes-Merton (“BSM”) option pricing model. The Company uses historical data, among other factors, to estimate the expected price volatility, the expected option life, and the expected forfeiture rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Current significant estimates, including the underlying assumptions, consist of economic lives of long-lived assets, realizability of trade receivables, valuation of deferred tax assets/liabilities, inventory, investments, and stock compensation expense. It is at least reasonably possible that these estimates may change in the near term Net Loss per Common Share Basic loss per share excludes dilution and is determined by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share reflects the potential dilution that could occur if securities such as options were exercised or converted into common stock. Diluted earnings per share ("Diluted EPS") considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential shares would have an anti-dilutive effect. Diluted EPS also excludes the impact of common shares issuable upon the exercise of outstanding stock options in periods in which the option exercise price is greater than the average market price of our common stock during the period. For the three -month 332,500 respectively, , because their effect would be anti-dilutive New Accounting Stan Accounting Standard Update (“ASU”) No. 2016-13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Statements |
Investments
Investments | 3 Months Ended |
Mar. 31, 2023 | |
Investments [Abstract] | |
Investments | N ote 2 . Investments The Company has investments in commercial paper, money market savings, Treasury Bills, and common equity securities of two private U.S. companies. The commercial paper investment is in U.S. debt with ratings of A-1+, P-1, and F1+. The Treasury Bills have remaining terms rang ing from The Company classifies its investments in commercial paper and Treasury Bills as available-for-sale, accounted for at fair value with unrealized gains and losses recognized in accumulated other comprehensive gain on the balance sheet. Equity securities are stated at fair value and unrealized gains and losses, if any, are reported in our statements of comprehensive loss in non-operating income. The cost and estimated fair value of the Company’s investments are as follows: Cost Gross unrealized gain Gross u nrealize loss Fair value March 31, 2023 Money Market $ 1,316 $ 0 $ 0 $ 1,316 Treasury Bills 7,914 39 0 7,953 E q uity Secu 54 2 0 56 9,284 41 0 9,325 Less Cash Equivalents 5,275 27 0 5,302 Total Investments, March 31, 2023 $ 4,009 $ 14 $ 0 $ 4,023 December 31, 2022 Commercial Paper $ 1,377 $ 0 $ 0 $ 1,377 Treasury Bills 7,922 32 0 7,954 Equity Securities 54 2 0 56 9,353 34 0 9,387 Less Cash Equivalents 7,319 32 0 7,351 Total Investments, December 31, 2022 $ 2,034 $ 2 $ 0 $ 2,036 |
Fair Value Measurements
Fair Value Measurements | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Measurements [Abstract] | |
Fair Value Measurements | Note 3 The following ta ble provides info March 31, 2023 Carrying amount Fair Value Measurement Using in balance sheet Fair Value Level 1 Level 2 Level 3 Assets: Cash equivalents Money Market Savings $ 1,316 $ 1,316 $ 1,316 $ 0 $ 0 Treasury bills 3,986 3,986 3,986 0 0 Treasury bills - maturity date greater than three months 3,967 3,967 3,967 0 0 Equity Securities 56 56 0 0 56 December 31, 2022 Carrying amount Fair Value Measurement Using in balance sheet Fair Value Level 1 Level 2 Level 3 Assets: Cash equivalents Commercial paper $ 1,377 $ 1,377 $ 1,377 $ 0 $ 0 Treasury bills 5,974 5,974 5,974 0 0 Treasury bills - maturity date greater than three months 1,980 1,980 1,980 0 0 Equity Securities 56 56 0 0 56 The fair value of the commercial paper and treasury bills is based on quoted market prices in an active market. The equity securities owned by the Company are investments in two non-publicly traded companies. There is an undeterminable market for each of these two companies and the Company has determined the fair value based on financial and other factors that are considered level 3 The changes measured at ue on a recur ring sis are Three Months Ended March 31, 2023 2022 Beginning Balance $ 56 $ 56 Change in Fair Value 0 0 E nding B $ 56 $ 56 |
Inventories
Inventories | 3 Months Ended |
Mar. 31, 2023 | |
Inventories [Abstract] | |
Inventories | Note 4 Inven tories use tion of cost of go March 31, 2023 December 31, 2022 Raw Materials $ 1,174 $ 1,162 Work In Process 324 278 Finished Goods 291 315 Reserve for Obsolescence (10 ) (10 ) Total Inventories, net $ 1,779 $ 1,745 |
Merger Agreement with Mobile X
Merger Agreement with Mobile X Global, Inc. | 3 Months Ended |
Mar. 31, 2023 | |
Business Combination and Asset Acquisition [Abstract] | |
Merger Agreement with Mobile X Global, Inc. | Note 5. Mer ger Agreem On June 10, 2022, the Comp any ente e corporation, a w On January 30, 2023, the Company and Mobile X terminated the Merger Agreement. A condition to the closing of the merger transaction was the consummation of an equity financing which the parties anticipated would be a PIPE investment (private investment in public entity). The financing necessary to consummate the merger was pursued but was not available due to difficult conditions in the financial markets, including the markets for PIPE investments. |
Contingencies
Contingencies | 3 Months Ended |
Mar. 31, 2023 | |
Contingencies [Abstract] | |
Contingencies | Note 6. Contingencies The Company sometimes becomes subject to claims against it in the ordinary course of business. There are currently no pending or threatened claims against the Company that it believes will have a material adverse effect on its results of operations or liquidity. |
Basis of Presentation (Policy)
Basis of Presentation (Policy) | 3 Months Ended |
Mar. 31, 2023 | |
Basis of Presentation [Abstract] | |
Nature of Business | Nature of Business Electro-Sensors, Inc. (the "Company") manufactures and markets a complete line of monitoring and control systems for a wide range of industrial machine applications. The Company uses leading-edge technology to continuously improve its products, with the ultimate goal of manufacturing the industry-preferred product for each of our served markets. The Company sells these products through an internal sales staff, manufacturers’ representatives, and distributors to a wide range of industries that use the products in a variety of applications to monitor process machinery operations. The Company markets its products to customers located throughout the United States, Canada, Latin America, Europe, and Asia. Note 5 provides i nformation regarding the Merger Agreement we entered into on June 10, 2022 and which was terminated January 30, 2023. |
Trade receivables and credit policies | Trade receivables and credit policies Trade receivables are uncollateralized customer obligations due under normal trade terms generally requiring payment within 30 90 Payments of trade receivables are allocated to the specific invoices identified on the customer’s remittance advice or, if unspecified, are applied to the earliest unpaid invoices. The carrying amount of trade receivables is reduced by an allowance for credit losses that reflects management’s best estimate of the amounts that will not be collected. Management assesses collectability by reviewing trade receivables on a collective and individual basis. In determining the amount of the allowance for credit losses, we consider historical collectability and past due status and make judgements about the creditworthiness of customers based on ongoing credit evaluations. We also consider customer-specific information and current market conditions. |
Revenue Recognition | Re venue Rec At contract inception, the Company assesses the goods and services to be provided to a customer and identifies a performance obligation for each distinct good or service. We also determine the transaction price for each performance obligation at contract inception. Our contracts, generally in the form of a purchase order, specify the product or service that is to be provided to the customer. The typical contract life is less than one TM |
Fair Value Measurements | Fair Value Measurements The carrying value of trade receivables, accounts payable, and other financial working capital items approximates fair value at March 31, 2023 and December 31, 2022, due to the short maturity nature of these instruments. |
Stock-Based Compensation | Stock-Based Compensation The Company records compensation expense for stock options based on the estimated fair value of the options on the date of grant using the Black-Scholes-Merton (“BSM”) option pricing model. The Company uses historical data, among other factors, to estimate the expected price volatility, the expected option life, and the expected forfeiture rate. The risk-free interest rate is based on the U.S. Treasury yield curve in effect at the time of grant for the estimated life of the option. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Current significant estimates, including the underlying assumptions, consist of economic lives of long-lived assets, realizability of trade receivables, valuation of deferred tax assets/liabilities, inventory, investments, and stock compensation expense. It is at least reasonably possible that these estimates may change in the near term |
Net Loss per Common Share | Net Loss per Common Share Basic loss per share excludes dilution and is determined by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted net loss per share reflects the potential dilution that could occur if securities such as options were exercised or converted into common stock. Diluted earnings per share ("Diluted EPS") considers the impact of potentially dilutive securities except in periods in which there is a loss because the inclusion of the potential shares would have an anti-dilutive effect. Diluted EPS also excludes the impact of common shares issuable upon the exercise of outstanding stock options in periods in which the option exercise price is greater than the average market price of our common stock during the period. For the three -month 332,500 respectively, , because their effect would be anti-dilutive |
New Accounting Standard Adopted | New Accounting Stan Accounting Standard Update (“ASU”) No. 2016-13, Financial Instruments-Credit Losses (Topic 326), Measurement of Credit Losses on Financial Statements |
Investments (Tables)
Investments (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Investments [Abstract] | |
Cost And Estimated Fair Value Of Investments | Cost Gross unrealized gain Gross u nrealize loss Fair value March 31, 2023 Money Market $ 1,316 $ 0 $ 0 $ 1,316 Treasury Bills 7,914 39 0 7,953 E q uity Secu 54 2 0 56 9,284 41 0 9,325 Less Cash Equivalents 5,275 27 0 5,302 Total Investments, March 31, 2023 $ 4,009 $ 14 $ 0 $ 4,023 December 31, 2022 Commercial Paper $ 1,377 $ 0 $ 0 $ 1,377 Treasury Bills 7,922 32 0 7,954 Equity Securities 54 2 0 56 9,353 34 0 9,387 Less Cash Equivalents 7,319 32 0 7,351 Total Investments, December 31, 2022 $ 2,034 $ 2 $ 0 $ 2,036 |
Fair Value Measurements (Tables
Fair Value Measurements (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Fair Value Measurements [Abstract] | |
Schedule of fair value measurement on a recurring basis | March 31, 2023 Carrying amount Fair Value Measurement Using in balance sheet Fair Value Level 1 Level 2 Level 3 Assets: Cash equivalents Money Market Savings $ 1,316 $ 1,316 $ 1,316 $ 0 $ 0 Treasury bills 3,986 3,986 3,986 0 0 Treasury bills - maturity date greater than three months 3,967 3,967 3,967 0 0 Equity Securities 56 56 0 0 56 December 31, 2022 Carrying amount Fair Value Measurement Using in balance sheet Fair Value Level 1 Level 2 Level 3 Assets: Cash equivalents Commercial paper $ 1,377 $ 1,377 $ 1,377 $ 0 $ 0 Treasury bills 5,974 5,974 5,974 0 0 Treasury bills - maturity date greater than three months 1,980 1,980 1,980 0 0 Equity Securities 56 56 0 0 56 |
Summary of change in level 3 assets at fair value on a recurring basis | Three Months Ended March 31, 2023 2022 Beginning Balance $ 56 $ 56 Change in Fair Value 0 0 E nding B $ 56 $ 56 |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 31, 2023 | |
Inventories [Abstract] | |
Schedule of Inventories used in the determination of cost of goods sold | March 31, 2023 December 31, 2022 Raw Materials $ 1,174 $ 1,162 Work In Process 324 278 Finished Goods 291 315 Reserve for Obsolescence (10 ) (10 ) Total Inventories, net $ 1,779 $ 1,745 |
Basis of Presentation (Narrativ
Basis of Presentation (Narrative) (Details) - shares | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Basis of Presentation [Abstract] | ||
Options excluded from the computations of diluted weighted-average shares outstanding | 300,000 | 332,500 |
Investments (Narrative) (Detail
Investments (Narrative) (Details) | 3 Months Ended |
Mar. 31, 2023 Number | |
Marketable Securities [Line Items] | |
Number of private companies which entity has investments in common equity securities | 2 |
Minimum [Member] | |
Marketable Securities [Line Items] | |
Treasury Bills, term | 1 month |
Maximum [Member] | |
Marketable Securities [Line Items] | |
Treasury Bills, term | 3 months |
Investments (Cost And Estimated
Investments (Cost And Estimated Fair Value Of Investments) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Investments | ||
Cost | $ 4,009 | $ 2,034 |
Cash equivalents, Carrying amount | 5,540 | 7,646 |
Gross unrealized gain | 14 | 2 |
Gross unrealized loss | 0 | 0 |
Fair value, investments | 4,023 | 2,036 |
Money Market Savings [Member] | ||
Investments | ||
Cost | 1,316 | |
Gross unrealized gain | 0 | |
Gross unrealized loss | 0 | |
Fair value, investments | 1,316 | |
Commercial Paper [Member] | ||
Investments | ||
Cost | 1,377 | |
Gross unrealized gain | 0 | |
Gross unrealized loss | 0 | |
Fair value, investments | 1,377 | |
Treasury Bills [Member] | ||
Investments | ||
Cost | 7,914 | 7,922 |
Gross unrealized gain | 39 | 32 |
Gross unrealized loss | 0 | 0 |
Fair value, investments | 7,953 | 7,954 |
Equity Securities [Member] | ||
Investments | ||
Cost | 54 | 54 |
Gross unrealized gain | 2 | 2 |
Gross unrealized loss | 0 | 0 |
Fair value, investments | 56 | 56 |
Debt and Equity Securities [Member] | ||
Investments | ||
Cost | 9,284 | 9,353 |
Gross unrealized gain | 41 | 34 |
Gross unrealized loss | 0 | 0 |
Fair value, investments | 9,325 | 9,387 |
Less Cash Equivalents [Member] | ||
Investments | ||
Cash equivalents, Carrying amount | 5,275 | 7,319 |
Gross unrealized gain | 27 | 32 |
Gross unrealized loss | 0 | 0 |
Cash equivalents, Fair value | $ 5,302 | $ 7,351 |
Fair Value Measurements (Fair V
Fair Value Measurements (Fair Value Measurements On A Recurring Basis) (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Carrying amount | $ 5,540 | $ 7,646 |
Money Market Savings [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Carrying amount | 1,316 | |
Cash equivalents, Fair Value | 1,316 | |
Money Market Savings [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Fair Value | 1,316 | |
Money Market Savings [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Fair Value | 0 | |
Money Market Savings [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Fair Value | 0 | |
Commercial Paper [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Carrying amount | 1,377 | |
Cash equivalents, Fair Value | 1,377 | |
Commercial Paper [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Fair Value | 1,377 | |
Commercial Paper [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Fair Value | 0 | |
Commercial Paper [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Fair Value | 0 | |
Treasury Bills [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Carrying amount | 3,986 | 5,974 |
Cash equivalents, Fair Value | 3,986 | 5,974 |
Treasury bills, Carrying amount | 3,967 | 1,980 |
Treasury bills, Fair Value | 3,967 | 1,980 |
Treasury Bills [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Fair Value | 3,986 | 5,974 |
Treasury bills, Fair Value | 3,967 | 1,980 |
Treasury Bills [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Fair Value | 0 | 0 |
Treasury bills, Fair Value | 0 | 0 |
Treasury Bills [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Cash equivalents, Fair Value | 0 | 0 |
Treasury bills, Fair Value | 0 | 0 |
Equity Securities [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, Carrying amount | 56 | 56 |
Equity Securities, Fair Value | 56 | 56 |
Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, Fair Value | 0 | 0 |
Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, Fair Value | 0 | 0 |
Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member] | ||
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items] | ||
Equity Securities, Fair Value | $ 56 | $ 56 |
Fair Value Measurements (Fair_2
Fair Value Measurements (Fair Value Assets Measured on Recurring Basis Unobservable Inputs Reconciliation) (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2023 | Mar. 31, 2022 | |
Assets measured at fair value on a recurring basis | ||
Beginning Balance | $ 56 | $ 56 |
Change in Fair Value | 0 | 0 |
Ending Balance | $ 56 | $ 56 |
Inventories (Details)
Inventories (Details) - USD ($) $ in Thousands | Mar. 31, 2023 | Dec. 31, 2022 |
Inventories [Abstract] | ||
Raw Materials | $ 1,174 | $ 1,162 |
Work In Process | 324 | 278 |
Finished Goods | 291 | 315 |
Reserve for Obsolescence | (10) | (10) |
Total Inventories, net | $ 1,779 | $ 1,745 |