Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2019 | Aug. 08, 2019 | |
Document Information [Line Items] | ||
Entity Registrant Name | QUALSTAR CORP | |
Entity Central Index Key | 0000758938 | |
Trading Symbol | qbak | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 1,923,752 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2019 | |
Document Fiscal Year Focus | 2019 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2019 | Dec. 31, 2018 |
Current assets: | ||
Cash and cash equivalents | $ 4,376,000 | $ 4,781,000 |
Restricted cash | 100,000 | 100,000 |
Accounts receivables, net | 2,238,000 | 1,809,000 |
Inventories, net | 2,744,000 | 2,897,000 |
Prepaid expenses and other current assets | 131,000 | 180,000 |
Total current assets | 9,589,000 | 9,767,000 |
Non-current assets: | ||
Property and equipment, net | 106,000 | 112,000 |
Right-of-use | 822,000 | |
Other assets | 129,000 | 119,000 |
Total non-current assets | 1,057,000 | 231,000 |
Total assets | 10,646,000 | 9,998,000 |
Current liabilities: | ||
Accounts payable | 1,365,000 | 1,023,000 |
Accrued payroll and related liabilities | 203,000 | 185,000 |
Deferred service revenue, short-term | 618,000 | 736,000 |
Lease liabilities, current | 303,000 | |
Other accrued liabilities | 453,000 | 559,000 |
Total current liabilities | 2,942,000 | 2,503,000 |
Long-term liabilities: | ||
Other long-term liabilities | 52,000 | 40,000 |
Lease liabilities, long term | 545,000 | |
Deferred service revenue | 168,000 | 127,000 |
Total long-term liabilities | 765,000 | 167,000 |
Total liabilities | 3,707,000 | 2,670,000 |
Shareholders’ equity: | ||
Preferred stock, no par value; 5,000,000 shares authorized; no shares issued | 0 | 0 |
Common stock, no par value; 50,000,000 shares authorized, shares issued and outstanding 1,937,310 at June 30, 2019 and 2,030,017 shares at December 31, 2018 | 18,907,000 | 19,426,000 |
Accumulated deficit | (11,968,000) | (12,098,000) |
Total shareholders’ equity | 6,939,000 | 7,328,000 |
Total liabilities and shareholders’ equity | $ 10,646,000 | $ 9,998,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares $ / shares in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Preferred stock, no par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, issued (in shares) | 1,937,310 | 2,030,017 |
Common stock, outstanding (in shares) | 1,937,310 | 2,030,017 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net revenues | $ 3,439 | $ 3,231 | $ 6,295 | $ 6,166 |
Cost of goods sold | 2,634 | 1,809 | 4,570 | 3,316 |
Gross profit | 805 | 1,422 | 1,725 | 2,850 |
Operating expenses: | ||||
Engineering | 228 | 128 | 351 | 249 |
Sales and marketing | 306 | 354 | 614 | 649 |
General and administrative | 298 | 466 | 651 | 888 |
Total operating expenses | 832 | 948 | 1,616 | 1,786 |
Income (loss) from operations | (27) | 474 | 109 | 1,064 |
Other income | 16 | 21 | ||
Income (loss) before income taxes | (11) | 474 | 130 | 1,064 |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net income (loss) | $ (11) | $ 474 | $ 130 | $ 1,064 |
Earnings per share: | ||||
Basic (in dollars per share) | $ (0.01) | $ 0.23 | $ 0.07 | $ 0.52 |
Diluted (in dollars per share) | $ (0.01) | $ 0.23 | $ 0.07 | $ 0.51 |
Shares used in per share calculation: | ||||
Basic (in shares) | 1,952 | 2,048 | 1,972 | 2,048 |
Diluted (in shares) | 1,952 | 2,094 | 1,972 | 2,098 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balances (in shares) at Dec. 31, 2017 | 2,043 | |||
Balances at Dec. 31, 2017 | $ 19,480 | $ (13,584) | $ 5,896 | |
Net income | 590 | 590 | ||
Exercised, shares (in shares) | 5 | |||
Exercise of stock options | $ 34 | 34 | ||
Balances (in shares) at Mar. 31, 2018 | 2,048 | |||
Balances at Mar. 31, 2018 | $ 19,514 | (12,994) | 6,520 | |
Balances (in shares) at Dec. 31, 2017 | 2,043 | |||
Balances at Dec. 31, 2017 | $ 19,480 | (13,584) | 5,896 | |
Stock repurchase (in shares) | 5 | |||
Stock repurchase | $ 39 | 39 | ||
Net income | 1,064 | 1,064 | ||
Balances (in shares) at Jun. 30, 2018 | 2,048 | |||
Balances at Jun. 30, 2018 | $ 19,519 | (12,520) | 6,999 | |
Balances (in shares) at Mar. 31, 2018 | 2,048 | |||
Balances at Mar. 31, 2018 | $ 19,514 | (12,994) | 6,520 | |
Net income | 474 | 474 | ||
Exercised, shares (in shares) | ||||
Exercise of stock options | $ 5 | 5 | ||
Balances (in shares) at Jun. 30, 2018 | 2,048 | |||
Balances at Jun. 30, 2018 | $ 19,519 | (12,520) | 6,999 | |
Balances (in shares) at Dec. 31, 2018 | 2,030 | |||
Balances at Dec. 31, 2018 | $ 19,426 | (12,098) | 7,328 | |
Stock repurchase (in shares) | (59) | |||
Stock repurchase | $ (329) | (329) | ||
Net income | 141 | $ 141 | ||
Exercised, shares (in shares) | ||||
Balances (in shares) at Mar. 31, 2019 | 1,971 | |||
Balances at Mar. 31, 2019 | $ 19,097 | (11,957) | $ 7,140 | |
Balances (in shares) at Dec. 31, 2018 | 2,030 | |||
Balances at Dec. 31, 2018 | $ 19,426 | (12,098) | 7,328 | |
Stock repurchase (in shares) | (93) | |||
Stock repurchase | $ (519) | (519) | ||
Net income | 130 | 130 | ||
Balances (in shares) at Jun. 30, 2019 | 1,937 | |||
Balances at Jun. 30, 2019 | $ 18,907 | (11,968) | 6,939 | |
Balances (in shares) at Mar. 31, 2019 | 1,971 | |||
Balances at Mar. 31, 2019 | $ 19,097 | (11,957) | 7,140 | |
Stock repurchase (in shares) | (34) | |||
Stock repurchase | $ (190) | (190) | ||
Net income | (11) | $ (11) | ||
Exercised, shares (in shares) | ||||
Balances (in shares) at Jun. 30, 2019 | 1,937 | |||
Balances at Jun. 30, 2019 | $ 18,907 | $ (11,968) | $ 6,939 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2018 | |
Cash flows from operating activities: | ||
Net income | $ 130 | $ 1,064 |
Adjustments to reconcile net income to net cash provided by operating activities: | ||
Depreciation and amortization | 24 | 52 |
Loss on disposal of assets | 26 | |
Provision for recovery of bad debts and returns, net | (4) | |
Provision for inventory obsolescence | 137 | 133 |
Amortization of right of use | 137 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | (429) | (142) |
Inventories | 16 | (248) |
Prepaid expenses and other current assets | 39 | (12) |
Accounts payable | 342 | (9) |
Accrued payroll and related liabilities | 18 | 127 |
Deferred service revenue | (77) | (138) |
Lease liabilities | (133) | |
Other accrued liabilities | (72) | (3) |
Total adjustments | 28 | (244) |
Net cash provided by operating activities | 158 | 820 |
Cash flows from investing activities: | ||
Purchases of equipment | (44) | (10) |
Net cash used in investing activities | (44) | (10) |
Cash flows from financing activities: | ||
Proceeds from the exercise of stock options | 39 | |
Purchase of common stock | (519) | |
Net cash provided by (used in) financing activities | (519) | 39 |
Net increase (decrease) in cash, restricted cash and cash equivalents | (405) | 849 |
Cash, restricted cash and cash equivalents at beginning of period | 4,881 | 4,798 |
Cash, restricted cash and cash equivalents at end of period | 4,476 | 5,647 |
Supplemental cash flow disclosures: | ||
Income taxes paid | $ 10 | $ 24 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 1 Basis of Presentation The accompanying condensed consolidated balance sheet as of December 31, 2018, Preparing condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. Examples include estimates of loss contingencies, product life cycles and inventory obsolescence, bad debts, sales returns, share-based compensation, forfeiture rates, the potential outcome of future tax consequences of events that have been recognized in our financial statements or tax returns and determining when investment impairments are other-than-temporary. Actual results and outcomes may Qualstar has established two July 4, 2018, September 5, 2018, We design our products at our facilities in California and Singapore. We sell our products globally through authorized resellers and directly to OEMs. N2Power The Company's significant accounting policies are disclosed in Note 1 10 December 31, 2018, March 7, 2019 ( no three June 30, 2019, Principles of Consolidation The condensed consolidated financial statements include our accounts and the accounts of each of our wholly owned subsidiaries that were in existence during the periods presented: Qualstar Corporation Singapore Private Limited, N2Power, Interim results are not 10 Revenue Recognition The Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which we expect to receive in exchange for those goods or services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, five five 606, Title and risk of loss generally pass to our customers upon shipment. In limited circumstances where either title or risk of loss pass upon destination, we defer revenue recognition until such events occur. We derive revenues from two may A variety of technical services can be contracted by our customers for a designated period of time. The service contracts allow customers to call Qualstar for technical support, replace defective parts and to have onsite service provided by Qualstar’s third Deferred service revenue is shown separately in the condensed consolidated balance sheets as current and long term. At June 30, 2019 $786,000. December 31, 2018, $863,000. Legal and Other Contingencies The outcomes of legal proceedings and claims brought against us are subject to significant uncertainty. An estimated loss from a loss contingency such as a legal proceeding or claim is accrued by a charge to income if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. When legal costs that the entity expects to incur in defending itself in connection with a loss contingency accrual are expected to be material, the loss should factor in all costs and, if the legal costs are reasonably estimable, they should be accrued in accordance with ASC 450, June 30, 2019 $2,000. December 31, 2018, $100,000. Fair Value of Financial Instruments The carrying amounts of the Company's financial instruments, which include cash equivalents, accounts receivable, accounts payable, related party, and other long-term liabilities, approximate their fair values. Accounting for Income Taxes We estimate our tax liabilities based on current tax laws in the statutory jurisdictions in which we operate in accordance with ASC 740, “Income Taxes.” These estimates include judgments about deferred tax assets and liabilities resulting from temporary differences between assets and liabilities recognized for financial reporting purposes and such amounts recognized for tax purposes, as well as about the realization of deferred tax assets. We may recognize the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities, based on the technical merits of the position. The tax benefits recognized in the financial statements from such a position should be measured based on the largest benefit that has a greater than 50% likelihood of being realized upon ultimate settlement. ASC 740 also provides guidance on derecognition of income tax assets and liabilities, classification of current and deferred income tax assets and liabilities, accounting for interest and penalties associated with tax positions, and income tax disclosures. We maintain a valuation allowance to reduce our deferred tax assets due to the uncertainty surrounding the timing of realizing the benefits of net deferred tax assets in future years. We have considered future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for such a valuation allowance. In the event we were to determine that we would be able to realize all or part of our net deferred tax asset in the future, the valuation allowance would be decreased accordingly. We may periodically undergo examinations by the federal and state regulatory authorities and the Internal Revenue Service. We may be assessed additional taxes and/or penalties contingent on the outcome of these examinations. Our previous examinations have not resulted in any unfavorable or significant assessments. No provision has been made, as the Company has net operating loss carryforwards available to offset taxable income. Leases Effective January 1, 2019, the Company accounts for its leases under ASC 842, Leases . Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases, and are recorded on the consolidated balance sheet as both a right of use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right of use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right of use asset result in straight-line rent expense over the lease term. For finance leases, interest on the lease liability and the amortization of the right of use asset results in front-loaded expense over the lease term. Variable lease expenses are recorded when incurred. In calculating the right of use asset and lease liability, the Company has elected to combine lease and non-lease components. The Company excludes short-term leases having initial terms of 12 months or less from the new guidance as an accounting policy election, and recognizes rent expense on a straight-line basis over the lease term. The Company continues to account for leases in the prior period financial statements under ASC Topic 840. Operating Segments The Company operates in two two |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 2 Recent accounting guidance adopted FASB issued ASU 2016 02, 2018 09, 2018 10, 2018 11, 2019 01 11’s January 1, 2019, 2016 02, 2018 09, 2018 10, 2018 11 2019 0. not In June 2018, 2018 07 718, December 15, 2018. January 1, 2019, 2018 07 not In February 2018, 2018 02 December 22, 2017. December 15, 2018. January 1, 2019, 2018 02 not |
Note 3 - Balance Sheet Details
Note 3 - Balance Sheet Details | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Supplemental Balance Sheet Disclosures [Text Block] | NOTE 3 - BALANCE SHEET DETAILS The following tables provide details of selected balance sheet accounts (in thousands): Inventories Inventories are stated at the lower of cost ( first first June 30 , 201 9 December 31, 201 8 (unaudited) Raw materials $ 251 $ 136 Finished goods 2,493 2,761 Net inventory balance $ 2,744 $ 2,897 Property and equipment, net The components of property and equipment are as follows (in thousands): June 30 , 201 9 December 31, 201 8 (unaudited) Leasehold improvements $ 133 $ 114 Furniture and fixtures 281 286 Machinery and equipment 635 844 1,049 1,244 Less accumulated depreciation and amortization (943 ) (1,132 ) Property and equipment, net $ 106 $ 112 Depreciation and amortization expense for the three June 30, 2019 2018 $11,000 $22,000 six June 30, 2019 2018 $24,000 $52,000 Other Accrued Liabilities The components of other liabilities are as follows (in thousands): June 30, 2019 December 31 , 201 8 (unaudited) Accrued warranty $ 354 $ 365 Accrued outside commissions 35 41 Accrued contingent legal fees 2 100 Deferred rent 23 22 Other accrued liabilities 39 31 Total other accrued liabilities $ 453 $ 559 |
Note 4 - Contingencies
Note 4 - Contingencies | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Contingencies Disclosure [Text Block] | NOTE 4 –CONTINGENCIES Accrued Warranty We provide a three two one may may We provide a three A provision for costs related to warranty expense is recorded when revenue is recognized, which is estimated based on historical warranty costs incurred. Activity in the liability for product warranty (included in other accrued liabilities) for the periods presented is as follows (in thousands): Six months Ended June 30 , 2019 Year Ended December 31, 201 8 (unaudited) Beginning balance $ 365 $ 322 Cost of warranty claims (12 ) (15 ) Accruals for product warranties 1 58 Ending balance $ 354 $ 365 |
Note 5 - Net Earnings Per Share
Note 5 - Net Earnings Per Share | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 5 – NET EARNINGS PER SHARE Basic net earnings per share has been computed by dividing net income by the weighted average number of common shares outstanding. Diluted net earnings per share has been computed by dividing net earnings by the weighted average common shares outstanding plus dilutive securities or other contracts to issue common stock as if these securities were exercised or converted to common stock. The following table sets forth the computation of basic and diluted net income or loss per share for the periods indicated, in thousands, except per share amounts. Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 In thousands (except per share amounts): Net income (loss) $ (11 ) $ 474 $ 130 $ 1,064 Weighted average outstanding shares of common stock 1,952 2,048 1,972 2,048 Dilutive potential common shares from employee stock options - 46 - 50 Common stock and common stock equivalents 1,952 2,094 1,972 2,098 Income (loss) per share: Basic net income (loss) per share $ (0.01 ) $ 0.23 $ 0.07 $ 0.52 Diluted net income (loss) per share $ (0.01 ) $ 0.23 $ 0.07 $ 0.51 Outstanding stock options that were excluded from the calculation of diluted net income per share, as their inclusion would have been anti-dilutive, were 178,000 1,333 three six June 30, 2019 2018, |
Note 6 - Stockholders' Equity
Note 6 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | N OTE 6 On December 5, 2018, $2,400,000 not 409,000. three six June 30, 2019 33,972 92,706 110,808 December 5, 2019. |
Note 7 - Stock Incentive Plans
Note 7 - Stock Incentive Plans and Share-based Compensation | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | NOTE 7 – STOCK INCENTIVE PLANS AND S HARE- BASED COMPENSATION Share-Based Compensation The Company did not three six June 30, 2019 2018. No June 30, 2019, not Stock Option Plan The Company has two Qualstar adopted the 2008 “2008 2008 no may 20,000 2008 The 2017 “2017 2017 300,000 With respect to options, the fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model that uses various assumptions, such as volatility, expected term and risk-free interest rate. Expected volatilities are based on the historical volatility of the Company’s stock. The Company uses historical data to estimate option exercise and employee termination in determining forfeiture rates. The expected term of options granted is estimated based on the vesting term of the award, historical employee exercise behavior, expected volatility of the Company’s stock and an employee’s average length of service. The risk-free interest rate used in this model correlates to a U.S. constant rate Treasury security with a contractual life that approximates the expected term of the option award. The following table summarizes stock option activity: Options Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at December 31, 2018 178,000 $ 7.19 8.63 — Granted — — — — Exercised — — — — Forfeited, canceled or expired — — — — Outstanding at March 31, 2019 178,000 7.19 7.51 — Granted — — — — Exercised — — — — Forfeited, canceled or expired — — — — Outstanding at June 30, 2019 178,000 7.19 7.26 — Exercisable at June 30, 2019 178,000 $ 7.19 7.26 $ — |
Note 8 - Income Taxes
Note 8 - Income Taxes | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 8 – INCOME TAXES We did not three six June 30, 2019 2018, 2017 |
Note 9 - Significant Customers,
Note 9 - Significant Customers, Concentration of Credit Risk, and Geographic Information | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | NOTE 9 We have no may Our financial results could be affected by changes in foreign currency exchange rates or weak economic conditions in foreign markets. As all sales are currently made in U.S. dollars, a strengthening of the dollar could make our products less competitive in foreign markets. Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Revenue – geographic activity (in thousands): (unaudited) (unaudited) (unaudited) (unaudited) $ % $ % $ % $ % North America $ 2,231 64.9 % $ 1,783 55.2 % $ 3,917 62.2 % $ 3,358 54.5 % Europe 234 6.8 % 570 17.7 % 777 12.3 % 882 14.3 % Asia Pacific 950 27.6 % 864 26.7 % 1,559 24.8 % 1,887 30.6 % Other 24 0.7 % 14 0.4 % 42 0.7 % 39 0.6 % $ 3,439 100.0 % $ 3,231 100.0 % $ 6,295 100.0 % $ 6,166 100.0 % Two 18.7% 11.7% three June 30, 2019. June 30, 2019, two 21.7% 6.3% two December 31, 2018. Two 23.5% 11.0% six June 30, 2019. June 30, 2019, two 26.8% |
Note 10 - Commitments
Note 10 - Commitments | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | NOTE 10 – CO MMITMENTS Lease Agreements The Company has entered into a new lease in Camarillo, California for its headquarters beginning June 1, 2019. 9,910 5 two July 31, 2024. $9,910 3% 12, Qualstar leases a 15,160 three December 15, 2014 three February 28, 2021. $11,000 3% 12, May 22, 2019, July 15, 2019 February 28, 2021 ( $12,886.00 nine 9% Qualstar also leases approximately 5,400 January 31, 2020. $11,000 3% March 21, 2016, $12,000 3% Effective April 1, 2016, two 1,359 $2,500 March 31, 2020. Such leases do not not The rate implicit in each lease is not three June 30, 2019 6.75%, may Right of use assets for operating leases are periodically reduced by impairment losses. We use the long-lived assets impairment guidance in ASC Subtopic 360 10, June 30, 2019, not We monitor for events or changes in circumstances that require a reassessment of one At June 30, 2019, $303,000 $545,000, $822,000. Future minimum lease payments under these leases are as follows, in thousands, (unaudited): Years Ending December 31, Minimum Lease Payment Sublease Revenue Net Minimum Lease Payment Remainder of 2019 $ 199 $ (171 ) $ 28 2020 277 (167 ) 110 2021 148 (26 ) 122 2022 129 - 129 2023 133 - 133 After 79 - 79 Total undiscounted future non-cancelable minimum lease payments 965 (364 ) 601 Less: Imputed interest (118 ) - (118 ) Present value of lease liabilities $ 847 $ (364 ) $ 483 In the Company's financial statements for periods prior to January 1, 2019, 840, three six June 30, 2019 $46,000 $84,000, Other information related to our operating leases is as follows: Six Months Ended June 30, 2019 Weighted average remaining lease term in years 1.92 Weighted average discount rate 6.75 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 148 Operating cash flows from finance leases - Financing cash flows from finance leases - |
Note 11 - Segment Information
Note 11 - Segment Information | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 1 1 – SEGMENT INFORMATION In its operation of the business, management reviews certain financial information, including segmented internal profit and loss statements prepared on a basis consistent with U.S. GAAP. Our two two three six June 30, 2019 2018. two three six June 30, 2019 2018. Power Supplies Storage Segment revenue, income before taxes and total assets were as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 201 9 201 8 201 9 201 8 Revenue Power Supplies $ 1,297 $ 1,671 $ 2,667 $ 2,986 Storage: Product 1,129 668 1,912 1,184 Service 1,013 892 1,716 1,996 Total storage $ 2,142 $ 1,560 $ 3,628 $ 3,180 Revenue $ 3,439 $ 3,231 $ 6,295 $ 6,166 Three Months Ended June 30, Six Months Ended June 30, 201 9 201 8 201 9 201 8 Income (Loss) before Taxes Power Supplies $ (346 ) $ 73 $ (356 ) $ 17 Storage 335 401 486 1,047 Income (loss) before taxes $ (11 ) $ 474 $ 130 $ 1,064 June 30 , 201 9 December 31, 201 8 ( ) Total Assets Power Supplies Cash and cash equivalents $ 537 $ 381 Accounts receivable, net 698 1,048 Inventories, net 1,534 1,576 Property and equipment, net 14 47 Other assets 124 102 Total power supply assets 2,907 3,154 Storage Cash and cash equivalents $ 3,839 $ 4,400 Restricted cash 100 100 Accounts receivable, net 1,540 761 Inventories, net 1,210 1,321 Prepaid expenses and other current assets 120 168 Property and equipment, net 92 65 Other assets 838 29 Total storage assets 7,739 6,844 Total Assets $ 10,646 $ 9,998 |
Note 12 - Related Party Transac
Note 12 - Related Party Transactions | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 1 2 – RELATED PARTY TRANSACTIONS Steven N. Bronson is the Company’s CEO and is also the President and CEO and a majority shareholder of Interlink Electronics, Inc. (“Interlink”) and BKF Capital Group, Inc. (“BKF”). Interlink reimburses Qualstar for leased space at the Simi Valley facility and for other administrative expenses paid by or on behalf of the Company. The total amount charged to Interlink for the three June 30, 2019 2018 $4,000 $4,000, $10,000 $8,000 six June 30, 2019 2018. $1,000 $2,000 June 30, 2019 December 31, 2018, The Company reimburses Interlink for expenses paid on the Company’s behalf. Interlink occasionally pays travel, consulting and other expenses incurred by Qualstar. The Company reimbursed Interlink $60,000 $74,000 three June 30, 2019 2018, $4,000 $130,000 six June 30, 2019 2018, $1,000 June 30, 2019. December 31, 2018, $2,000. The Company reimburses BKF for expenses paid on the Company’s behalf. BKF occasionally pays consulting expenses incurred by Qualstar. BKF did not three June 30, 2019 no $2,000 six June 30, 2018 not June 30, 2019 $2,000 December 31, 2018. |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 6 Months Ended |
Jun. 30, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 1 3 – SUBSEQUENT EVENTS None. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying condensed consolidated balance sheet as of December 31, 2018, Preparing condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses. Examples include estimates of loss contingencies, product life cycles and inventory obsolescence, bad debts, sales returns, share-based compensation, forfeiture rates, the potential outcome of future tax consequences of events that have been recognized in our financial statements or tax returns and determining when investment impairments are other-than-temporary. Actual results and outcomes may Qualstar has established two July 4, 2018, September 5, 2018, We design our products at our facilities in California and Singapore. We sell our products globally through authorized resellers and directly to OEMs. N2Power The Company's significant accounting policies are disclosed in Note 1 10 December 31, 2018, March 7, 2019 ( no three June 30, 2019, |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The condensed consolidated financial statements include our accounts and the accounts of each of our wholly owned subsidiaries that were in existence during the periods presented: Qualstar Corporation Singapore Private Limited, N2Power, Interim results are not 10 |
Revenue [Policy Text Block] | Revenue Recognition The Company recognizes revenue when its customer obtains control of promised goods or services, in an amount that reflects the consideration which we expect to receive in exchange for those goods or services. To determine revenue recognition for arrangements that the Company determines are within the scope of ASC 606, five five 606, Title and risk of loss generally pass to our customers upon shipment. In limited circumstances where either title or risk of loss pass upon destination, we defer revenue recognition until such events occur. We derive revenues from two may A variety of technical services can be contracted by our customers for a designated period of time. The service contracts allow customers to call Qualstar for technical support, replace defective parts and to have onsite service provided by Qualstar’s third Deferred service revenue is shown separately in the condensed consolidated balance sheets as current and long term. At June 30, 2019 $786,000. December 31, 2018, $863,000. |
Legal Costs, Policy [Policy Text Block] | Legal and Other Contingencies The outcomes of legal proceedings and claims brought against us are subject to significant uncertainty. An estimated loss from a loss contingency such as a legal proceeding or claim is accrued by a charge to income if it is probable that a liability has been incurred and the amount of the loss can be reasonably estimated. When legal costs that the entity expects to incur in defending itself in connection with a loss contingency accrual are expected to be material, the loss should factor in all costs and, if the legal costs are reasonably estimable, they should be accrued in accordance with ASC 450, June 30, 2019 $2,000. December 31, 2018, $100,000. |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments The carrying amounts of the Company's financial instruments, which include cash equivalents, accounts receivable, accounts payable, related party, and other long-term liabilities, approximate their fair values. |
Income Tax, Policy [Policy Text Block] | Accounting for Income Taxes We estimate our tax liabilities based on current tax laws in the statutory jurisdictions in which we operate in accordance with ASC 740, may not 50% 740 We maintain a valuation allowance to reduce our deferred tax assets due to the uncertainty surrounding the timing of realizing the benefits of net deferred tax assets in future years. We have considered future taxable income and ongoing prudent and feasible tax planning strategies in assessing the need for such a valuation allowance. In the event we were to determine that we would be able to realize all or part of our net deferred tax asset in the future, the valuation allowance would be decreased accordingly. We may may not No |
Lessee, Leases [Policy Text Block] | Leases Effective January 1, 2019, 842, Leases In calculating the right of use asset and lease liability, the Company has elected to combine lease and non-lease components. The Company excludes short-term leases having initial terms of 12 The Company continues to account for leases in the prior period financial statements under ASC Topic 840. |
Segment Reporting, Policy [Policy Text Block] | Operating Segments The Company operates in two two |
Note 3 - Balance Sheet Details
Note 3 - Balance Sheet Details (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30 , 201 9 December 31, 201 8 (unaudited) Raw materials $ 251 $ 136 Finished goods 2,493 2,761 Net inventory balance $ 2,744 $ 2,897 |
Property, Plant and Equipment [Table Text Block] | June 30 , 201 9 December 31, 201 8 (unaudited) Leasehold improvements $ 133 $ 114 Furniture and fixtures 281 286 Machinery and equipment 635 844 1,049 1,244 Less accumulated depreciation and amortization (943 ) (1,132 ) Property and equipment, net $ 106 $ 112 |
Schedule of Other Accrued Liabilities [Table Text Block] | June 30, 2019 December 31 , 201 8 (unaudited) Accrued warranty $ 354 $ 365 Accrued outside commissions 35 41 Accrued contingent legal fees 2 100 Deferred rent 23 22 Other accrued liabilities 39 31 Total other accrued liabilities $ 453 $ 559 |
Note 4 - Contingencies (Tables)
Note 4 - Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | Six months Ended June 30 , 2019 Year Ended December 31, 201 8 (unaudited) Beginning balance $ 365 $ 322 Cost of warranty claims (12 ) (15 ) Accruals for product warranties 1 58 Ending balance $ 354 $ 365 |
Note 5 - Net Earnings Per Sha_2
Note 5 - Net Earnings Per Share (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 In thousands (except per share amounts): Net income (loss) $ (11 ) $ 474 $ 130 $ 1,064 Weighted average outstanding shares of common stock 1,952 2,048 1,972 2,048 Dilutive potential common shares from employee stock options - 46 - 50 Common stock and common stock equivalents 1,952 2,094 1,972 2,098 Income (loss) per share: Basic net income (loss) per share $ (0.01 ) $ 0.23 $ 0.07 $ 0.52 Diluted net income (loss) per share $ (0.01 ) $ 0.23 $ 0.07 $ 0.51 |
Note 7 - Stock Incentive Plan_2
Note 7 - Stock Incentive Plans and Share-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Options Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at December 31, 2018 178,000 $ 7.19 8.63 — Granted — — — — Exercised — — — — Forfeited, canceled or expired — — — — Outstanding at March 31, 2019 178,000 7.19 7.51 — Granted — — — — Exercised — — — — Forfeited, canceled or expired — — — — Outstanding at June 30, 2019 178,000 7.19 7.26 — Exercisable at June 30, 2019 178,000 $ 7.19 7.26 $ — |
Note 9 - Significant Customer_2
Note 9 - Significant Customers, Concentration of Credit Risk, and Geographic Information (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Schedule of Revenue from External Customers Attributed to Foreign Countries by Geographic Area [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Revenue – geographic activity (in thousands): (unaudited) (unaudited) (unaudited) (unaudited) $ % $ % $ % $ % North America $ 2,231 64.9 % $ 1,783 55.2 % $ 3,917 62.2 % $ 3,358 54.5 % Europe 234 6.8 % 570 17.7 % 777 12.3 % 882 14.3 % Asia Pacific 950 27.6 % 864 26.7 % 1,559 24.8 % 1,887 30.6 % Other 24 0.7 % 14 0.4 % 42 0.7 % 39 0.6 % $ 3,439 100.0 % $ 3,231 100.0 % $ 6,295 100.0 % $ 6,166 100.0 % |
Note 10 - Commitments (Tables)
Note 10 - Commitments (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | Years Ending December 31, Minimum Lease Payment Sublease Revenue Net Minimum Lease Payment Remainder of 2019 $ 199 $ (171 ) $ 28 2020 277 (167 ) 110 2021 148 (26 ) 122 2022 129 - 129 2023 133 - 133 After 79 - 79 Total undiscounted future non-cancelable minimum lease payments 965 (364 ) 601 Less: Imputed interest (118 ) - (118 ) Present value of lease liabilities $ 847 $ (364 ) $ 483 |
Lessee, Operating Lease, Other Information [Table Text Block] | Six Months Ended June 30, 2019 Weighted average remaining lease term in years 1.92 Weighted average discount rate 6.75 % Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 148 Operating cash flows from finance leases - Financing cash flows from finance leases - |
Note 11 - Segment Information (
Note 11 - Segment Information (Tables) | 6 Months Ended |
Jun. 30, 2019 | |
Notes Tables | |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 201 9 201 8 201 9 201 8 Revenue Power Supplies $ 1,297 $ 1,671 $ 2,667 $ 2,986 Storage: Product 1,129 668 1,912 1,184 Service 1,013 892 1,716 1,996 Total storage $ 2,142 $ 1,560 $ 3,628 $ 3,180 Revenue $ 3,439 $ 3,231 $ 6,295 $ 6,166 |
Reconciliation of Operating Profit (Loss) from Segments to Consolidated [Table Text Block] | Three Months Ended June 30, Six Months Ended June 30, 201 9 201 8 201 9 201 8 Income (Loss) before Taxes Power Supplies $ (346 ) $ 73 $ (356 ) $ 17 Storage 335 401 486 1,047 Income (loss) before taxes $ (11 ) $ 474 $ 130 $ 1,064 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | June 30 , 201 9 December 31, 201 8 ( ) Total Assets Power Supplies Cash and cash equivalents $ 537 $ 381 Accounts receivable, net 698 1,048 Inventories, net 1,534 1,576 Property and equipment, net 14 47 Other assets 124 102 Total power supply assets 2,907 3,154 Storage Cash and cash equivalents $ 3,839 $ 4,400 Restricted cash 100 100 Accounts receivable, net 1,540 761 Inventories, net 1,210 1,321 Prepaid expenses and other current assets 120 168 Property and equipment, net 92 65 Other assets 838 29 Total storage assets 7,739 6,844 Total Assets $ 10,646 $ 9,998 |
Note 1 - Summary of Significa_2
Note 1 - Summary of Significant Accounting Policies (Details Textual) | 6 Months Ended | |
Jun. 30, 2019USD ($) | Dec. 31, 2018USD ($) | |
Contract with Customer, Liability, Total | $ 786,000 | $ 863,000 |
Loss Contingency, Accrual, Current | $ 2,000 | $ 100,000 |
Number of Operating Segments | 2 |
Note 3 - Balance Sheet Detail_2
Note 3 - Balance Sheet Details (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Depreciation, Total | $ 11,000 | $ 22,000 | $ 24,000 | $ 52,000 |
Note 3 - Balance Sheet Detail_3
Note 3 - Balance Sheet Details - Inventory (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Raw materials | $ 251 | $ 136 |
Finished goods | 2,493 | 2,761 |
Net inventory balance | $ 2,744 | $ 2,897 |
Note 3 - Balance Sheet Detail_4
Note 3 - Balance Sheet Details - Property and Equipment, Net (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Property and equipment, gross | $ 1,049 | $ 1,244 |
Less accumulated depreciation and amortization | (943) | (1,132) |
Property and equipment, net | 106 | 112 |
Leasehold Improvements [Member] | ||
Property and equipment, gross | 133 | 114 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | 281 | 286 |
Machinery and Equipment [Member] | ||
Property and equipment, gross | $ 635 | $ 844 |
Note 3 - Balance Sheet Detail_5
Note 3 - Balance Sheet Details - Other Accrued Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Accrued warranty | $ 354 | $ 365 |
Accrued outside commissions | 35 | 41 |
Accrued professional fees | 2 | 100 |
Deferred rent | 23 | 22 |
Other accrued liabilities | 39 | 31 |
Total other accrued liabilities | $ 453 | $ 559 |
Note 4 - Contingencies (Details
Note 4 - Contingencies (Details Textual) | 6 Months Ended |
Jun. 30, 2019 | |
Product Warranty Accrual, Power Supplies, Term | 3 years |
XLS and RLS Libraries [Member] | |
Advance Replacement Warranty Period | 3 years |
Q-Series Libraries [Member] | |
Advance Replacement Warranty Period | 2 years |
Note 4 - Contingencies - Produc
Note 4 - Contingencies - Product Warranty Liability (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Dec. 31, 2018 | |
Beginning balance | $ 365 | $ 322 |
Cost of warranty claims | (12) | (15) |
Accruals for product warranties | 1 | 58 |
Ending balance | $ 354 | $ 365 |
Note 5 - Net Earnings Per Sha_3
Note 5 - Net Earnings Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Share-based Payment Arrangement, Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 178,000 | 1,333 | 178,000 | 1,333 |
Note 5 - Net Earnings Per Sha_4
Note 5 - Net Earnings Per Share - Computation of Basic and Diluted Net Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Mar. 31, 2019 | Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net income | $ (11) | $ 141 | $ 474 | $ 590 | $ 130 | $ 1,064 |
Weighted average outstanding shares of common stock (in shares) | 1,952 | 2,048 | 1,972 | 2,048 | ||
Dilutive potential common shares from employee stock options (in shares) | 46 | 50 | ||||
Diluted (in shares) | 1,952 | 2,094 | 1,972 | 2,098 | ||
Basic net income (loss) per share (in dollars per share) | $ (0.01) | $ 0.23 | $ 0.07 | $ 0.52 | ||
Diluted net income (loss) per share (in dollars per share) | $ (0.01) | $ 0.23 | $ 0.07 | $ 0.51 |
Note 6 - Stockholders' Equity (
Note 6 - Stockholders' Equity (Details Textual) - Stock Repurchase Program [Member] - USD ($) | 3 Months Ended | 6 Months Ended | 7 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2019 | Jun. 30, 2019 | Dec. 05, 2018 | |
Stock Repurchase Program, Authorized Amount | $ 2,400,000 | |||
Stock Repurchase Program, Number of Shares Authorized to be Repurchased | 409,000 | |||
Stock Repurchased During Period, Shares | 33,972 | 92,706 | 110,808 |
Note 7 - Stock Incentive Plan_3
Note 7 - Stock Incentive Plans and Share-based Compensation (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | |
Share-based Payment Arrangement, Expense | $ 0 | $ 0 | $ 0 | $ 0 | ||
Share-based Payment Arrangement, Expense, Tax Benefit | 0 | $ 0 | 0 | $ 0 | ||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 0 | $ 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 178,000 | 178,000 | 178,000 | 178,000 | ||
Plan 2008 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 0 | 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 20,000 | 20,000 | ||||
Plan 2017 [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 300,000 | 300,000 |
Note 7 - Stock Incentive Plan_4
Note 7 - Stock Incentive Plans and Share-based Compensation - Stock Option Activity (Details) - $ / shares | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Mar. 31, 2019 | Dec. 31, 2018 | |
Outstanding, shares (in shares) | 178,000 | 178,000 | |
Weighted-average exercise price per share, outstanding (in dollars per share) | $ 7.19 | $ 7.19 | |
Weighted-average remaining contractual term, outstanding (Year) | 7 years 94 days | 7 years 186 days | 8 years 229 days |
Granted, shares (in shares) | |||
Weighted-average exercise price per share, granted (in dollars per share) | |||
Exercised, shares (in shares) | |||
Weighted-average exercise price per share, exercised (in dollars per share) | |||
Forfeited, canceled or expired, shares (in shares) | |||
Weighted-average exercise price per share, forfeited, canceled or expired (in dollars per share) | |||
Exercised, shares (in shares) | |||
Forfeited, canceled or expired, shares (in shares) | |||
Outstanding, shares (in shares) | 178,000 | 178,000 | 178,000 |
Weighted-average exercise price per share, outstanding (in dollars per share) | $ 7.19 | $ 7.19 | $ 7.19 |
Exercisable, shares (in shares) | 178,000 | ||
Weighted-average exercise price per share, exercisable (in dollars per share) | $ 7.19 | ||
Weighted-average remaining contractual term, exercisable (Year) | 7 years 94 days |
Note 8 - Income Taxes (Details
Note 8 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Income Tax Expense (Benefit), Total | $ 0 | $ 0 | $ 0 | $ 0 |
Note 9 - Significant Customer_3
Note 9 - Significant Customers, Concentration of Credit Risk, and Geographic Information (Details Textual) - Customer Concentration Risk [Member] | 3 Months Ended | 6 Months Ended | 12 Months Ended |
Jun. 30, 2019 | Jun. 30, 2019 | Dec. 31, 2018 | |
Revenue Benchmark [Member] | |||
Number of Major Customers Concentration Risk | 2 | 2 | |
Revenue Benchmark [Member] | Customer 1 [Member] | |||
Concentration Risk, Percentage | 18.70% | 23.50% | |
Revenue Benchmark [Member] | Customer 2 [Member] | |||
Concentration Risk, Percentage | 11.70% | 11.00% | |
Accounts Receivable [Member] | |||
Number of Major Customers Concentration Risk | 2 | 2 | 2 |
Concentration Risk, Percentage | 21.70% | 26.80% | 6.30% |
Note 9 - Significant Customer_4
Note 9 - Significant Customers, Concentration of Credit Risk, and Geographic Information - Geographic Activity, Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Net revenues | $ 3,439 | $ 3,231 | $ 6,295 | $ 6,166 |
Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 3,439 | $ 3,231 | $ 6,295 | $ 6,166 |
Percentage of net revenues | 100.00% | 100.00% | 100.00% | 100.00% |
North America [Member] | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 2,231 | $ 1,783 | $ 3,917 | $ 3,358 |
Percentage of net revenues | 64.90% | 55.20% | 62.20% | 54.50% |
Europe [Member] | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 234 | $ 570 | $ 777 | $ 882 |
Percentage of net revenues | 6.80% | 17.70% | 12.30% | 14.30% |
Asia Pacific [Member] | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 950 | $ 864 | $ 1,559 | $ 1,887 |
Percentage of net revenues | 27.60% | 26.70% | 24.80% | 30.60% |
Other Geographic Areas [Member] | Geographic Concentration Risk [Member] | Revenue Benchmark [Member] | ||||
Net revenues | $ 24 | $ 14 | $ 42 | $ 39 |
Percentage of net revenues | 0.70% | 0.40% | 0.70% | 0.60% |
Note 10 - Commitments (Details
Note 10 - Commitments (Details Textual) | Jun. 01, 2019USD ($)ft² | May 22, 2019USD ($) | Apr. 01, 2016USD ($)ft² | Dec. 15, 2014USD ($)ft² | Jun. 30, 2019USD ($)ft² | Jun. 30, 2019USD ($)ft² | Dec. 31, 2018USD ($) |
Operating Lease, Weighted Average Discount Rate, Percent | 6.75% | 6.75% | |||||
Operating Lease, Impairment Loss | $ 0 | ||||||
Operating Lease, Liability, Current | $ 303,000 | 303,000 | |||||
Operating Lease, Liability, Noncurrent | 545,000 | 545,000 | |||||
Operating Lease, Right-of-Use Asset | 822,000 | 822,000 | |||||
Operating Leases, Rent Expense, Net, Total | $ 46,000 | $ 84,000 | |||||
Lease for Headquarters [Member] | Forecast [Member] | |||||||
Area of Real Estate Property | ft² | 9,910 | ||||||
Lessee, Operating Lease, Term of Contract | 5 years 60 days | ||||||
Operating Lease Monthly Rent | $ 9,910 | ||||||
Monthly Rent Step-up Percentage | 3.00% | ||||||
Simi Valley California [Member] | |||||||
Area of Real Estate Property | ft² | 15,160 | ||||||
Lessee, Operating Lease, Term of Contract | 3 years | ||||||
Operating Lease Monthly Rent | $ 11,000 | ||||||
Monthly Rent Step-up Percentage | 3.00% | ||||||
Lessee, Operating Lease, Renewal Term | 3 years | ||||||
Stillwater Agency, Inc. [Member] | |||||||
Operating Leases, Monthly Sublease Rent | $ 12,886 | ||||||
Operating Leases, Sublease, Percentage of Total Operating Expenses and Taxes Expense for Subleased Office Building | 9.00% | ||||||
Westlake Village, California [Member] | |||||||
Area of Real Estate Property | ft² | 5,400 | 5,400 | |||||
Operating Lease Monthly Rent | $ 11,000 | ||||||
Monthly Rent Step-up Percentage | 3.00% | ||||||
Operating Leases, Monthly Sublease Rent | $ 12,000 | ||||||
Operating Leases, Sublease, Monthly Rent Step-up Percentage | 3.00% | ||||||
Lease in Singapore [Member] | |||||||
Area of Real Estate Property | ft² | 1,359 | ||||||
Lessee, Operating Lease, Term of Contract | 2 years | ||||||
Operating Lease Monthly Rent | $ 2,500 |
Note 10 - Commitments - Future
Note 10 - Commitments - Future Minimum Lease Payments (Details) $ in Thousands | Jun. 30, 2019USD ($) |
Remainder of 2019, Minimum Lease Payment | $ 199 |
Remainder of 2019, Sublease Revenue | (171) |
Remainder of 2019, Net Minimum Lease Payment | 28 |
2020, Minimum Lease Payment | 277 |
2020, Sublease Revenue | (167) |
2020, Net Minimum Lease Payment | 110 |
2021, Minimum Lease Payment | 148 |
2021, Sublease Revenue | (26) |
2021, Net Minimum Lease Payment | 122 |
2022, Minimum Lease Payment | 129 |
2022, Sublease Revenue | |
2022, Net Minimum Lease Payment | 129 |
2023, Minimum Lease Payment | 133 |
2023, Sublease Revenue | |
2023, Net Minimum Lease Payment | 133 |
After, Minimum Lease Payment | 79 |
After, Sublease Revenue | |
After, Net Minimum Lease Payment | 79 |
Total undiscounted future non-cancelable minimum lease payments | 965 |
Total undiscounted future non-cancelable minimum lease payments | (364) |
Total undiscounted future non-cancelable minimum lease payments | 601 |
Less: Imputed interest, Minimum Lease Payment | (118) |
Less: Imputed interest, Sublease Revenue | |
Less: Imputed interest, Net Minimum Lease Payment | (118) |
Present value of lease liabilities, Minimum Lease Payment | 847 |
Present value of lease liabilities, Sublease Revenue | (364) |
Present value of lease liabilities, Net Minimum Lease Payment | $ 483 |
Note 10 - Commitments - Other I
Note 10 - Commitments - Other Information Related to Operating Leases (Details) $ in Thousands | 6 Months Ended |
Jun. 30, 2019USD ($) | |
Weighted average remaining lease term in years (Year) | 1 year 335 days |
Weighted average discount rate | 6.75% |
Operating cash flows from operating leases | $ 148 |
Operating cash flows from finance leases | |
Financing cash flows from finance leases |
Note 11 - Segment Information_2
Note 11 - Segment Information (Details Textual) | 6 Months Ended |
Jun. 30, 2019 | |
Number of Operating Segments | 2 |
Note 11 - Segment Information -
Note 11 - Segment Information - Segment Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Revenue | $ 3,439 | $ 3,231 | $ 6,295 | $ 6,166 |
Power Supplies [Member] | ||||
Revenue | 1,297 | 1,671 | 2,667 | 2,986 |
Data Storage [Member] | ||||
Revenue | 2,142 | 1,560 | 3,628 | 3,180 |
Data Storage [Member] | Product [Member] | ||||
Revenue | 1,129 | 668 | 1,912 | 1,184 |
Data Storage [Member] | Service [Member] | ||||
Revenue | $ 1,013 | $ 892 | $ 1,716 | $ 1,996 |
Note 11 - Segment Information_3
Note 11 - Segment Information - Segment Income (Loss) Before Taxes (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | |
Income (loss) before taxes | $ (11) | $ 474 | $ 130 | $ 1,064 |
Power Supplies [Member] | ||||
Income (loss) before taxes | (346) | 73 | (356) | 17 |
Data Storage [Member] | ||||
Income (loss) before taxes | $ 335 | $ 401 | $ 486 | $ 1,047 |
Note 11 - Segment Information_4
Note 11 - Segment Information - Segment Total Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2019 | Dec. 31, 2018 |
Cash and cash equivalents | $ 4,376 | $ 4,781 |
Accounts receivable, net | 2,238 | 1,809 |
Inventories, net | 2,744 | 2,897 |
Property and equipment, net | 106 | 112 |
Other assets | 129 | 119 |
Total Assets | 10,646 | 9,998 |
Restricted cash | 100 | 100 |
Prepaid expenses and other current assets | 131 | 180 |
Power Supplies [Member] | ||
Cash and cash equivalents | 537 | 381 |
Accounts receivable, net | 698 | 1,048 |
Inventories, net | 1,534 | 1,576 |
Property and equipment, net | 14 | 47 |
Other assets | 124 | 102 |
Total Assets | 2,907 | 3,154 |
Data Storage [Member] | ||
Cash and cash equivalents | 3,839 | 4,400 |
Accounts receivable, net | 1,540 | 761 |
Inventories, net | 1,210 | 1,321 |
Property and equipment, net | 92 | 65 |
Other assets | 838 | 29 |
Total Assets | 7,739 | 6,844 |
Restricted cash | 100 | 100 |
Prepaid expenses and other current assets | $ 120 | $ 168 |
Note 12 - Related Party Trans_2
Note 12 - Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2018 | Jun. 30, 2019 | Jun. 30, 2018 | Mar. 31, 2019 | Dec. 31, 2018 | |
Interlink Electronics, Inc. [Member] | ||||||
Due to Related Parties, Total | $ 1,000 | $ 1,000 | $ 2,000 | |||
Interlink Electronics, Inc. [Member] | Administrative Services Provided to Related Party [Member] | ||||||
Related Party Transaction, Amounts of Transaction | 4,000 | $ 4,000 | 10,000 | $ 8,000 | ||
Due from Related Parties, Total | 1,000 | 1,000 | 2,000 | |||
Interlink Electronics, Inc. [Member] | Reimbursement of Expenses Paid by Company [Member] | ||||||
Related Party Transaction, Amounts of Transaction | 60,000 | $ 74,000 | $ 4,000 | 130,000 | ||
BKF Capital Group, Inc. [Member] | ||||||
Due to Related Parties, Total | $ 0 | $ 2,000 | ||||
BKF Capital Group, Inc. [Member] | Reimbursement of Expenses Paid by Company [Member] | ||||||
Related Party Transaction, Amounts of Transaction | $ 0 | $ 2,000 |