Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Dec. 31, 2023 | Feb. 02, 2024 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0000768408 | |
Entity Registrant Name | Cyanotech Corp | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Dec. 31, 2023 | |
Document Transition Report | false | |
Entity File Number | 0-14602 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 91-1206026 | |
Entity Address, Address Line One | 73-4460 Queen Kaahumanu Hwy. #102 | |
Entity Address, City or Town | Kailua-Kona | |
Entity Address, State or Province | HI | |
Entity Address, Postal Zip Code | 96740 | |
City Area Code | 808 | |
Local Phone Number | 326-1353 | |
Title of 12(b) Security | Common Stock, $0.02 par value per share | |
Trading Symbol | CYAN | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 6,886,600 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Dec. 31, 2023 | Mar. 31, 2023 |
Current assets: | ||
Cash | $ 661,000 | $ 974,000 |
Accounts receivable, net of allowance for credit losses of $11 as of December 31, 2023 and $64 as of March 31, 2023 | 2,036,000 | 1,331,000 |
Inventories | 9,124,000 | 10,707,000 |
Prepaid expenses and other current assets | 464,000 | 484,000 |
Total current assets | 12,285,000 | 13,496,000 |
Equipment and leasehold improvements, net | 10,434,000 | 11,366,000 |
Operating lease right-of-use assets, net | 4,409,000 | 4,776,000 |
Other assets | 126,000 | 90,000 |
Total assets | 27,254,000 | 29,728,000 |
Current liabilities: | ||
Accounts payable | 1,389,000 | 1,021,000 |
Accrued expenses | 753,000 | 1,101,000 |
Customer deposits | 70,000 | 89,000 |
Operating lease obligations, current portion | 517,000 | 483,000 |
Short term debt - bank | 1,360,000 | 0 |
Line of credit – bank | 0 | 1,540,000 |
Line of credit – related party | 1,250,000 | 500,000 |
Current maturities of long-term debt | 3,199,000 | 3,369,000 |
Total current liabilities | 8,538,000 | 8,103,000 |
Long-term debt, less current maturities | 1,000,000 | 1,000,000 |
Long-term operating lease obligations | 3,883,000 | 4,275,000 |
Other long-term liabilities | 0 | 3,000 |
Total liabilities | 13,421,000 | 13,381,000 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock of $0.01 par value, authorized 10,000,000 shares; no shares issued and outstanding | 0 | 0 |
Common stock of $0.02 par value, authorized 50,000,000 shares; issued and outstanding 6,886,600 shares at December 31, 2023 and 6,271,971 shares at March 31, 2023 | 138,000 | 125,000 |
Additional paid-in capital | 34,515,000 | 33,856,000 |
Accumulated deficit | (20,820,000) | (17,634,000) |
Total stockholders’ equity | 13,833,000 | 16,347,000 |
Total liabilities and stockholders’ equity | $ 27,254,000 | $ 29,728,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Accounts receivable, allowance for doubtful accounts | $ 11 | $ 64 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred, authorized shares (in shares) | 10,000,000 | 10,000,000 |
Preferred, issued shares (in shares) | 0 | 0 |
Preferred outstanding, shares (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.02 | $ 0.02 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 6,886,600 | 6,271,971 |
Common stock, shares outstanding (in shares) | 6,886,600 | 6,271,971 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Net sales | $ 5,582,000 | $ 5,891,000 | $ 17,101,000 | $ 17,786,000 |
Cost of sales | 3,933,000 | 4,127,000 | 11,831,000 | 11,914,000 |
Gross profit | 1,649,000 | 1,764,000 | 5,270,000 | 5,872,000 |
Operating expenses: | ||||
General and administrative | 947,000 | 1,021,000 | 3,381,000 | 3,631,000 |
Sales and marketing | 1,387,000 | 1,041,000 | 4,048,000 | 3,351,000 |
Research and development | 163,000 | 106,000 | 530,000 | 556,000 |
Total operating expenses | 2,497,000 | 2,168,000 | 7,959,000 | 7,538,000 |
Loss from operations | (848,000) | (404,000) | (2,689,000) | (1,666,000) |
Interest expense, net | (172,000) | (186,000) | (495,000) | (333,000) |
Loss before income taxes | (1,020,000) | (590,000) | (3,184,000) | (1,999,000) |
Income tax expense | 0 | 8,000 | 2,000 | 11,000 |
Net loss | $ (1,020,000) | $ (598,000) | $ (3,186,000) | $ (2,010,000) |
Net loss per share: | ||||
Basic (in dollars per share) | $ (0.16) | $ (0.1) | $ (0.5) | $ (0.32) |
Diluted (in dollars per share) | $ (0.16) | $ (0.1) | $ (0.5) | $ (0.32) |
Shares used in calculation of net loss per share: | ||||
Basic (in shares) | 6,554 | 6,272 | 6,404 | 6,235 |
Diluted (in shares) | 6,554 | 6,272 | 6,404 | 6,235 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Mar. 31, 2022 | 6,202,223 | |||
Balance at Mar. 31, 2022 | $ 124 | $ 33,557 | $ (14,194) | $ 19,487 |
Share-based compensation expense | 0 | 108 | 0 | 108 |
Net income (loss) | 0 | 0 | (2,010) | (2,010) |
Net loss | $ 0 | 0 | (2,010) | (2,010) |
Issuances of common stock to Directors Stock Grants (in shares) | 64,489 | |||
Issuances of common stock to Directors Stock Grants | $ 1 | 157 | 0 | 158 |
Issuances of vested shares of restricted stock (in shares) | 8,312 | |||
Issuances of vested shares of restricted stock | $ 0 | (10) | 0 | (10) |
Shares withheld for tax payments (in shares) | (3,053) | |||
Shares withheld for tax payments | $ 0 | 0 | 0 | 0 |
Shares withheld for tax payments | $ 0 | 0 | 0 | 0 |
Balance (in shares) at Dec. 31, 2022 | 6,271,971 | |||
Balance at Dec. 31, 2022 | $ 125 | 33,812 | (16,204) | 17,733 |
Balance (in shares) at Sep. 30, 2022 | 6,271,971 | |||
Balance at Sep. 30, 2022 | $ 125 | 33,767 | (15,606) | 18,286 |
Share-based compensation expense | 0 | 45 | 0 | 45 |
Net income (loss) | 0 | 0 | (598) | (598) |
Net loss | $ 0 | 0 | (598) | (598) |
Balance (in shares) at Dec. 31, 2022 | 6,271,971 | |||
Balance at Dec. 31, 2022 | $ 125 | 33,812 | (16,204) | 17,733 |
Balance (in shares) at Mar. 31, 2023 | 6,271,971 | |||
Balance at Mar. 31, 2023 | $ 125 | 33,856 | (17,634) | 16,347 |
Proceeds from the sale of common stock, net of expenses (in shares) | 400,000 | |||
Proceeds from the sale of common stock, net of expenses | $ 8 | 384 | 392 | |
Issuances of common stock to Directors in lieu of cash for current year board fees (in shares) | 12,821 | |||
Issuances of common stock to Directors in lieu of cash for current year board fees | $ 1 | 10 | 0 | 11 |
Share-based compensation expense | 0 | 139 | 0 | 139 |
Net income (loss) | 0 | 0 | (3,186) | (3,186) |
Net loss | $ 0 | 0 | (3,186) | (3,186) |
Issuances of common stock to Directors Stock Grants (in shares) | 159,493 | |||
Issuances of common stock to Directors Stock Grants | $ 3 | 123 | 0 | 126 |
Issuances of common stock to Directors in lieu of cash for prior year board fees (in shares) | 17,672 | |||
Issuances of common stock to Directors in lieu of cash for prior year board fees | $ 0 | 15 | 0 | 15 |
Issuances of vested shares of restricted stock (in shares) | 37,996 | |||
Issuances of vested shares of restricted stock | $ 1 | (12) | 0 | (11) |
Shares withheld for tax payments (in shares) | (13,353) | |||
Shares withheld for tax payments | $ 0 | 0 | 0 | 0 |
Shares withheld for tax payments | $ 0 | 0 | 0 | 0 |
Balance (in shares) at Dec. 31, 2023 | 6,886,600 | |||
Balance at Dec. 31, 2023 | $ 138 | 34,515 | (20,820) | 13,833 |
Balance (in shares) at Sep. 30, 2023 | 6,473,779 | |||
Balance at Sep. 30, 2023 | $ 129 | 34,078 | (19,800) | 14,407 |
Proceeds from the sale of common stock, net of expenses (in shares) | 400,000 | |||
Proceeds from the sale of common stock, net of expenses | $ 8 | 384 | 0 | 392 |
Issuances of common stock to Directors in lieu of cash for current year board fees (in shares) | 12,821 | |||
Issuances of common stock to Directors in lieu of cash for current year board fees | $ 1 | 10 | 0 | 11 |
Share-based compensation expense | 0 | 43 | 0 | 43 |
Net income (loss) | 0 | 0 | (1,020) | (1,020) |
Net loss | $ 0 | 0 | (1,020) | (1,020) |
Balance (in shares) at Dec. 31, 2023 | 6,886,600 | |||
Balance at Dec. 31, 2023 | $ 138 | $ 34,515 | $ (20,820) | $ 13,833 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net loss | $ (3,186,000) | $ (2,010,000) |
Adjustments to reconcile net loss to net cash provided by (used in) operating activities: | ||
Depreciation and amortization | 1,206,000 | 1,243,000 |
Amortization of debt issue costs and other assets | (19,000) | 33,000 |
Amortization of operating leases right-of-use assets | 366,000 | 324,000 |
Share-based compensation expense | 276,000 | 266,000 |
Provision for doubtful accounts | 11,000 | 35,000 |
Net (increase) decrease in assets: | ||
Accounts receivable | (716,000) | 1,473,000 |
Inventories | 1,583,000 | (2,108,000) |
Prepaid expenses and other assets | 12,000 | 267,000 |
Net increase (decrease) in liabilities: | ||
Accounts payable | 417,000 | (1,368,000) |
Accrued expenses | (333,000) | (424,000) |
Customer deposits | (19,000) | (67,000) |
Operating lease obligations | (357,000) | (333,000) |
Other liabilities | (3,000) | (14,000) |
Net cash used in operating activities | (762,000) | (2,683,000) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Investment in equipment and leasehold improvements | (323,000) | (1,018,000) |
Net cash used in investing activities | (323,000) | (1,018,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Net (payments) draws on short term debt and line of credit – bank | (180,000) | 1,550,000 |
Net draws on line of credit – related party | 750,000 | 500,000 |
Principal payments on long-term debt – bank | (179,000) | (415,000) |
Proceeds from the issuance of common stock, net of expenses | 392,000 | 0 |
Taxes paid related to net share settlement of restricted stock units | (11,000) | (10,000) |
Net cash provided by financing activities | 772,000 | 1,625,000 |
Net decrease in cash | (313,000) | (2,076,000) |
Cash at beginning of period | 974,000 | 2,589,000 |
Cash at end of period | 661,000 | 513,000 |
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION: | ||
Interest | 420,000 | 242,000 |
Income taxes | $ 6,000 | $ 27,000 |
Note 1 - Organization and Basis
Note 1 - Organization and Basis of Presentation | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. ORGANIZATION AND BASIS OF PRESENTATION Cyanotech Corporation (the “Company”), located in Kailua-Kona, Hawaii, was incorporated in the state of Nevada on March 3, 1983, The Company is an agricultural company that produces high value natural products derived from microalgae grown in complex and intricate open-pond agricultural systems on the Kona coast of Hawaii. The Company's products include Hawaiian Spirulina Pacifica BioAstin Hawaiian Astaxanthin The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information pursuant to the instructions to Form 10 X Accordingly, they do not not March 31, 2023 March 31, 2023, 10 June 27, 2023. Liquidity and Going Concern The accompanying condensed consolidated financial statements as of and for the three nine December 31, 2023 2022, March 31, 2023, not March 31, 2023 not may As of December 31, 2023, March 31, 2023. March 31, 2023, October 13, 2023, August 30, 2024. December 31, 2023, March 31, 2023, 5 The Company also has a loan facility with a related party that allows the Company to borrow up to $2,000,000 on a revolving basis (the “Revolver”). At December 31, 2023 March 31, 2023, April 12, 2025 ( 5 13 As of December 31, 2023, August 2032. March 31, 2023, June 22, 2023, March 31, 2023, On December 15, 2023, 10 In April 2019, April 12, 2021, December 14, 2022, August 14, 2023, 5 13 December 31, 2023 March 31, 2023, April 12, 2025. The Company continues to experience a loss from operations as the impacts from the macroeconomic environment led to lower sales across the Company's portfolio on a year-to-date basis. Industry data shows that consumers intake of dietary supplements is not may second 2023, 2023, third 2024. Funds generated by operating activities and available cash are the Company’s most significant sources of liquidity for working capital requirements, debt service and funding of maintenance levels of capital expenditures. The Company has developed its operating plan to produce the cash flows necessary to meet all financing requirements. Although the Company has a history of either being in compliance with debt covenants, or obtaining the necessary waivers, execution of its operating plan is dependent on many factors, some of which are not no December 31, 2024. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 2. SIGNIFICANT ACCOUNTING POLICIES Consolidation The accompanying condensed consolidated financial statements include the accounts of Cyanotech Corporation and its wholly owned subsidiary, Nutrex Hawaii, Inc. (“Nutrex Hawaii” or “Nutrex”, collectively the “Company”). All intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of any contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the periods reported. Management reviews these estimates and assumptions periodically and reflects the effect of revisions in the period that they are determined to be necessary. Actual results could differ from those estimates and assumptions. Cash Cash primarily consists of cash on hand and cash in bank deposits. Concentration Risk A significant portion of revenues and accounts receivables are derived from a few major customers. For the three December 31, 2023, two three December 31, 2022, one nine December 31, 2023, two nine December 31, 2022, two December 31, 2023 March 31, 2023, Accounts Receivable Accounts receivable balances are recorded at the invoiced amount and do not not not 90 not Revenue Recognition The Company records revenue based on the five 1 2 3 4 5 may not Revenue is measured as the net amount of consideration expected to be received in exchange for fulfilling a performance obligation. The Company has elected to exclude sales, use and similar taxes from the measurement of the transaction price. The amount of consideration expected to be received and revenue recognized includes estimates of variable consideration, which includes costs for trade promotion programs, coupons, returns and early payment discounts. Such estimates are calculated using historical averages adjusted for any expected changes due to current business conditions and experience. The Company reviews and updates these estimates at the end of each reporting period and the impact of any adjustments are recognized in the period the adjustments are identified. In assessing whether collection of consideration from a customer is probable, the Company considers the customer's ability and intent to pay that amount of consideration when it is due. Payment of invoices is due as specified in the underlying customer agreement, typically 30 one Customer contract liabilities consist of customer deposits received in advance of fulfilling an order and are shown separately on the consolidated balance sheets. During the three December 31, 2023 2022, March 31, 2023 2022, nine December 31, 2023 2022, March 31, 2023 2022, one not Disaggregation of Revenue The following table represents revenue disaggregated by major product line and extraction services for the: ($ in thousands) Three Months December 31, 2023 Three Months December 31, 2022 Packaged sales Astaxanthin packaged $ 3,691 $ 3,113 Spirulina packaged 1,277 1,147 Total packaged sales 4,968 4,260 Bulk sales Astaxanthin bulk 261 378 Spirulina bulk 312 967 Total bulk sales 573 1,345 Contract extraction and R&D services revenue 41 286 Total net sales $ 5,582 $ 5,891 ($ in thousands) Nine Months December 31, 2023 Nine Months December 31, 2022 Packaged sales Astaxanthin packaged $ 10,195 $ 9,492 Spirulina packaged 4,447 3,719 Total packaged sales 14,642 13,211 Bulk sales Astaxanthin bulk 1,168 1,204 Spirulina bulk 1,033 2,844 Total bulk sales 2,201 4,048 Contract extraction and R&D services revenue 258 527 Total net sales $ 17,101 $ 17,786 Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments Credit Losses 326” November 2018 2018 19, Codification Improvements to Topic 326, Credit Losses December 15, 2022. April 1, 2023, not In December 2023, 2023 09, Income Taxes (Topic 740 2023 09” eight 12 2023 09 December 15, 2024, 2023 09 |
Note 3 - Inventories
Note 3 - Inventories | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 3. INVENTORIES Inventories are stated at the lower of cost or net realizable value. Cost is determined by the first first December 31, 2023 March 31, 2023 (in thousands) Raw materials $ 1,369 $ 1,887 Work in process 2,508 2,049 Finished goods 4,977 6,502 Supplies 270 269 Inventories $ 9,124 $ 10,707 The Company recognizes abnormal production costs, including fixed cost variances from normal production capacity, fixed production overhead costs, idle facilities, freight handling costs and spoilage, as an expense in the period incurred, without adjusting overhead absorption rates. Normal production capacity is defined as the production expected to be achieved over a number of periods or seasons under normal circumstances, taking into account the loss of capacity resulting from planned maintenance. The Company had abnormal production cost recovery of $73,000 and costs of $64,000 to cost of sales for the three December 31, 2023 2022, nine December 31, 2023 2022, Beginning in fiscal year 2021 2023, first six 2024, not Other non-inventoriable fixed costs of $71,000 and $72,000 were expensed to cost of sales for the three December 31, 2023 2022, nine December 31, 2023 2022, |
Note 4 - Equipment and Leasehol
Note 4 - Equipment and Leasehold Improvements | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. EQUIPMENT AND LEASEHOLD IMPROVEMENTS Equipment and leasehold improvements consist of the following as of: December 31, 2023 March 31, 2023 (in thousands) Equipment $ 21,864 $ 21,649 Leasehold improvements 15,071 15,038 Furniture and fixtures 419 407 37,354 37,094 Less accumulated depreciation and amortization (27,127 ) (25,947 ) Construction-in-progress 207 219 Equipment and leasehold improvements, net $ 10,434 $ 11,366 Management has determined that no asset impairment existed as of December 31, 2023. three December 31, 2023 2022, nine December 31, 2023 2022, |
Note 5 - Line of Credit and Lon
Note 5 - Line of Credit and Long-term Debt | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 5. LINE OF CREDIT AND LONG-TERM DEBT Total debt consists of the following as of: December 31, 2023 March 31, 2023 (in thousands) Line of credit - bank $ — $ 1,540 Short-term debt - bank 1,360 — Line of credit – related party 1,250 500 Long-term debt 3,282 3,461 Long-term debt - related party 1,000 1,000 Unamortized debt issuance costs (83 ) (92 ) Less current maturities (5,809 ) (5,409 ) Total long-term debt, net of current maturities $ 1,000 $ 1,000 Line of Credit and Term Loans On August 30, 2016, June 3, 2016, March 31, 2023) no On October 13, 2023, “2023 no August 30, 2024. 2023 no December 31, 2023, 2023 March 31, 2023, 2023 The Credit Agreement grants the Bank the following security interests in the Company’s property: (a) a lien on the Company’s leasehold interest in its Kona facility; (b) an assignment of the Company’s interest in leases and rents on its Kona facility; and (c) a security interest in all fixtures, furnishings and equipment related to or used by the Company at the Kona facility. Each security interest is further subject to the terms of the Credit Agreement. In 2012, “2012 August 14, 2012 “2012 2012 2012 The provisions of the 2012 first August 14, 2032, nineteen 19 2012 December 31, 2023 March 31, 2023, first no 2012 December 31, 2023 March 31, 2023, The 2012 one December 31 December 31, 2012. 2012 December 31, 2023 March 31, 2023, Loan Covenants, Violation and Waiver The Company’s Credit Agreement and the 2012 March 31, 2023, not two June 22, 2023, March 31, 2023, June 21, 2023. March 31, 2024. Line of Credit and Debt Related Party In April 2019, April 2021. April 2021, April 2024, 13 December 2022, April 2025 August 14, 2023, At both December 31, 2023 March 31, 2023, December 31, 2023 March 31, 2023, December 31, 2023 March 31, 2023, first no Future principal payments under the loans at December 31, 2023 Fiscal year payments due (in thousands) Remainder of 2024 $ 3,282 2026 1,000 Total principal payments $ 4,282 |
Note 6 - Operating Leases
Note 6 - Operating Leases | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 6. OPERATING LEASES The Company leases facilities, equipment and land under non-cancelable operating leases expiring through 2037. five April 1, 2019 two two December 31, 2023, 7.3%, nine December 31, 2023 2022, $517,000, Supplemental balance sheet information related to leases consist of the following as of: Operating leases Balance Sheet Classification December 31, 2023 March 31, 2023 (in thousands) Right-of-use assets Operating lease right-of-use assets $ 6,149 $ 6,149 Accumulated lease amortization Operating lease right-of-use assets (1,740 ) (1,373 ) Total right-of-use assets $ 4,409 $ 4,776 Current lease liabilities Operating lease obligations $ 517 $ 483 Non-current lease liabilities Long-term operating lease obligations 3,883 4,275 Total lease liabilities $ 4,400 $ 4,758 Maturities of lease liabilities at December 31, 2023 Payments (in thousands) Remainder of 2024 $ 204 2025 805 2026 795 2027 775 2028 429 Thereafter 3,054 Total undiscounted lease payments 6,062 Less: present value discount (1,662 ) Total lease liability balance $ 4,400 |
Note 7 - Accrued Expenses
Note 7 - Accrued Expenses | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 7. ACCRUED EXPENSES Accrued expenses consist of the following as of: December 31, 2023 March 31, 2023 (in thousands) Bonus and profit sharing $ 100 $ 143 Wages 112 215 Vacation 354 393 Interest and legal 29 30 Other accrued expenses 158 320 Total accrued expenses $ 753 $ 1,101 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 8. COMMITMENTS AND CONTINGENCIES From time to time, the Company may no December 31, 2023. |
Note 9 - Share-based Compensati
Note 9 - Share-based Compensation | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 9. SHARE-BASED COMPENSATION The Company has share-based compensation plans, which are more fully described in Note 9, 10 March 31, 2023 June 27, 2023. As of December 31, 2023, two 2016 “2016 2014 “2014 The following table presents shares authorized, available for future grant and outstanding under each of the Company’s plans: As of December 31, 2023 Authorized Available Outstanding 2016 Plan 1,300,000 805,359 343,416 2014 Directors Plan 650,000 33,220 12,000 Total 1,950,000 838,579 355,416 Stock Options All stock option grants made under the equity-based compensation plans were issued at exercise prices no 2016 2014 No ten 10 three December 31, 2023 2022, nine December 31, 2023 2022, A summary of option activity under the Company’s stock plans for the nine December 31, 2023 Option Activity Shares Weighted Price Weighted Average Aggregate Outstanding at March 31, 2023 253,000 $ 2.88 7.5 $ — Granted 50,000 $ 0.79 Expired (6,000 ) $ 5.56 Outstanding at December 31, 2023 297,000 $ 2.47 7.4 $ 4,995 Exercisable at December 31, 2023 172,000 $ 2.76 6.6 $ — The aggregate intrinsic value in the table above is before applicable income taxes and represents the excess amount over the exercise price optionees would have received if all options had been exercised on the last business day of the period indicated, based on the Company’s closing stock price of $0.89 and $0.88 at December 31, 2023 March 31, 2023, A summary of the Company’s non-vested options for the nine December 31, 2023 Nonvested Options Shares Weighted Nonvested at March 31, 2023 141,667 $ 1.55 Granted 50,000 0.48 Vested (66,667 ) 1.49 Nonvested at December 31, 2023 125,000 $ 1.16 The weighted average grant-date fair value of stock options granted during the nine December 31, 2023 December 31, 2023, Restricted Stock Grants of fully vested restricted stock issued to Non-Employee Directors during the nine December 31, 2023 2022 2014 nine December 31, 2023 2022, To reduce the Company’s ongoing cash expenses, the Nominating and Corporate Governance Committee of the Board of Directors adopted a resolution allowing each director to elect to receive his or her quarterly director fees in the form of restricted stock in lieu of cash. Two Board members elected to receive shares of restricted stock in lieu of cash for the third 2023 one second 2024. April 3, 2023, two 2023 October 13, 2023, nine December 31, 2023 Restricted Stock Units ( RSUs ) RSUs are service-based awards granted to eligible employees under the 2016 2016 three December 31, 2023 2022. 2016 nine December 31, 2023 2022, The following table summarizes information related to awarded RSUs: Nonvested Restricted Stock Units Shares Weighted Nonvested restricted stock units at March 31, 2023 70,334 $ 3.04 Granted 28,018 0.83 Vested (37,996 ) 2.35 Forfeited (1,940 ) 1.99 Nonvested restricted stock units at December 31, 2023 58,416 $ 2.48 As of December 31, 2023, |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Equity [Text Block] | 10. STOCKHOLDERS EQUITY On December 15, 2023, 1933, 4 2 one December 15, 2023. The Shares are restricted securities under applicable federal securities laws and are subject to certain piggyback registration rights as provided for in the Subscription Agreement. |
Note 11 - Income Taxes
Note 11 - Income Taxes | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 11. INCOME TAXES The Company utilizes its estimated annual effective tax rate to determine its provision or benefit for income taxes for interim periods. The income tax provision or benefit is computed by multiplying the estimated annual effective tax rate by the year-to-date pre-tax book income (loss). The Company recorded $0 and $8,000 of income tax expense for the three December 31, 2023 2022, three December 31, 2022. nine December 31, 2023 2022, nine December 31, 2023 2022, not not The Company is subject to taxation in the United States and eight may may As of December 31, 2023 2022, With few exceptions, the Company is no 2019. |
Note 12 - Earnings Per Share
Note 12 - Earnings Per Share | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 12. EARNINGS PER SHARE Basic earnings (loss) per share is computed on the basis of the weighted average number of common shares outstanding. Diluted earnings (loss) per share is computed on the basis of the weighted average number of common shares outstanding plus the potentially dilutive effect of outstanding stock options using the treasury stock method. Reconciliations between the numerator and the denominator of the basic and diluted (loss) income per share computations for the three nine December 31, 2023 2022 Three Months Ended December 31, 2023 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (1,020 ) 6,554 $ (0.16 ) Three Months Ended December 31, 2022 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (598 ) 6,272 $ (0.10 ) Nine Months Ended December 31, 2023 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (3,186 ) 6,404 $ (0.50 ) Nine Months Ended December 31, 2022 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (2,010 ) 6,235 $ (0.32 ) Basic and diluted per share amounts are the same in periods of a net loss because common share equivalents are anti-dilutive when a net loss is recorded. Diluted earnings per share does not three December 31, 2023 2022, nine December 31, 2023 2022, |
Note 13 - Related Party Transac
Note 13 - Related Party Transactions | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 13. RELATED PARTY TRANSACTIONS In April 2019, April 12, 2021. On April 12, 2021, may not three April 12, 2021, no may On April 12, 2021, two On December 14, 2022, April 12, 2025 may On August 14, 2023, may $1,000,000 At both December 31, 2023 March 31, 2023, December 31, 2023 March 31, 2023, December 31, 2023 March 31, 2023, See Note 10 |
Note 14 - Subsequent Events
Note 14 - Subsequent Events | 9 Months Ended |
Dec. 31, 2023 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 14. SUBSEQUENT EVENTS The Company had no |
Insider Trading Arrangements
Insider Trading Arrangements | 3 Months Ended | 9 Months Ended |
Dec. 31, 2023 | Dec. 31, 2023 | |
Insider Trading Arr Line Items | ||
Material Terms of Trading Arrangement [Text Block] | 5. Other Information As disclosed previously, on August 10, 2023, 30 $1.00 5550 2 5810 3 180 February 6, 2024 ( On February 7, 2024, not February 20, 2024, 25 The Company expects that its common stock will be eligible to be traded over-the-counter. However, no | |
Rule 10b5-1 Arrangement Adopted [Flag] | false | |
Non-Rule 10b5-1 Arrangement Adopted [Flag] | false | |
Rule 10b5-1 Arrangement Terminated [Flag] | false | |
Non-Rule 10b5-1 Arrangement Terminated [Flag] | false |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2023 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Consolidation The accompanying condensed consolidated financial statements include the accounts of Cyanotech Corporation and its wholly owned subsidiary, Nutrex Hawaii, Inc. (“Nutrex Hawaii” or “Nutrex”, collectively the “Company”). All intercompany balances and transactions have been eliminated in consolidation. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosures of any contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the periods reported. Management reviews these estimates and assumptions periodically and reflects the effect of revisions in the period that they are determined to be necessary. Actual results could differ from those estimates and assumptions. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Cash primarily consists of cash on hand and cash in bank deposits. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration Risk A significant portion of revenues and accounts receivables are derived from a few major customers. For the three December 31, 2023, two three December 31, 2022, one nine December 31, 2023, two nine December 31, 2022, two December 31, 2023 March 31, 2023, |
Accounts Receivable [Policy Text Block] | Accounts Receivable Accounts receivable balances are recorded at the invoiced amount and do not not not 90 not |
Revenue [Policy Text Block] | Revenue Recognition The Company records revenue based on the five 1 2 3 4 5 may not Revenue is measured as the net amount of consideration expected to be received in exchange for fulfilling a performance obligation. The Company has elected to exclude sales, use and similar taxes from the measurement of the transaction price. The amount of consideration expected to be received and revenue recognized includes estimates of variable consideration, which includes costs for trade promotion programs, coupons, returns and early payment discounts. Such estimates are calculated using historical averages adjusted for any expected changes due to current business conditions and experience. The Company reviews and updates these estimates at the end of each reporting period and the impact of any adjustments are recognized in the period the adjustments are identified. In assessing whether collection of consideration from a customer is probable, the Company considers the customer's ability and intent to pay that amount of consideration when it is due. Payment of invoices is due as specified in the underlying customer agreement, typically 30 one Customer contract liabilities consist of customer deposits received in advance of fulfilling an order and are shown separately on the consolidated balance sheets. During the three December 31, 2023 2022, March 31, 2023 2022, nine December 31, 2023 2022, March 31, 2023 2022, one not Disaggregation of Revenue The following table represents revenue disaggregated by major product line and extraction services for the: ($ in thousands) Three Months December 31, 2023 Three Months December 31, 2022 Packaged sales Astaxanthin packaged $ 3,691 $ 3,113 Spirulina packaged 1,277 1,147 Total packaged sales 4,968 4,260 Bulk sales Astaxanthin bulk 261 378 Spirulina bulk 312 967 Total bulk sales 573 1,345 Contract extraction and R&D services revenue 41 286 Total net sales $ 5,582 $ 5,891 ($ in thousands) Nine Months December 31, 2023 Nine Months December 31, 2022 Packaged sales Astaxanthin packaged $ 10,195 $ 9,492 Spirulina packaged 4,447 3,719 Total packaged sales 14,642 13,211 Bulk sales Astaxanthin bulk 1,168 1,204 Spirulina bulk 1,033 2,844 Total bulk sales 2,201 4,048 Contract extraction and R&D services revenue 258 527 Total net sales $ 17,101 $ 17,786 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements In June 2016, 2016 13, Financial Instruments Credit Losses 326” November 2018 2018 19, Codification Improvements to Topic 326, Credit Losses December 15, 2022. April 1, 2023, not In December 2023, 2023 09, Income Taxes (Topic 740 2023 09” eight 12 2023 09 December 15, 2024, 2023 09 |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | ($ in thousands) Three Months December 31, 2023 Three Months December 31, 2022 Packaged sales Astaxanthin packaged $ 3,691 $ 3,113 Spirulina packaged 1,277 1,147 Total packaged sales 4,968 4,260 Bulk sales Astaxanthin bulk 261 378 Spirulina bulk 312 967 Total bulk sales 573 1,345 Contract extraction and R&D services revenue 41 286 Total net sales $ 5,582 $ 5,891 ($ in thousands) Nine Months December 31, 2023 Nine Months December 31, 2022 Packaged sales Astaxanthin packaged $ 10,195 $ 9,492 Spirulina packaged 4,447 3,719 Total packaged sales 14,642 13,211 Bulk sales Astaxanthin bulk 1,168 1,204 Spirulina bulk 1,033 2,844 Total bulk sales 2,201 4,048 Contract extraction and R&D services revenue 258 527 Total net sales $ 17,101 $ 17,786 |
Note 3 - Inventories (Tables)
Note 3 - Inventories (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2023 March 31, 2023 (in thousands) Raw materials $ 1,369 $ 1,887 Work in process 2,508 2,049 Finished goods 4,977 6,502 Supplies 270 269 Inventories $ 9,124 $ 10,707 |
Note 4 - Equipment and Leaseh_2
Note 4 - Equipment and Leasehold Improvements (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31, 2023 March 31, 2023 (in thousands) Equipment $ 21,864 $ 21,649 Leasehold improvements 15,071 15,038 Furniture and fixtures 419 407 37,354 37,094 Less accumulated depreciation and amortization (27,127 ) (25,947 ) Construction-in-progress 207 219 Equipment and leasehold improvements, net $ 10,434 $ 11,366 |
Note 5 - Line of Credit and L_2
Note 5 - Line of Credit and Long-term Debt (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Long-Term Debt Instruments [Table Text Block] | December 31, 2023 March 31, 2023 (in thousands) Line of credit - bank $ — $ 1,540 Short-term debt - bank 1,360 — Line of credit – related party 1,250 500 Long-term debt 3,282 3,461 Long-term debt - related party 1,000 1,000 Unamortized debt issuance costs (83 ) (92 ) Less current maturities (5,809 ) (5,409 ) Total long-term debt, net of current maturities $ 1,000 $ 1,000 |
Schedule of Maturities of Long-Term Debt [Table Text Block] | Fiscal year payments due (in thousands) Remainder of 2024 $ 3,282 2026 1,000 Total principal payments $ 4,282 |
Note 6 - Operating Leases (Tabl
Note 6 - Operating Leases (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Supplement Balance Sheet Information for Operating Lease [Table Text Block] | Operating leases Balance Sheet Classification December 31, 2023 March 31, 2023 (in thousands) Right-of-use assets Operating lease right-of-use assets $ 6,149 $ 6,149 Accumulated lease amortization Operating lease right-of-use assets (1,740 ) (1,373 ) Total right-of-use assets $ 4,409 $ 4,776 Current lease liabilities Operating lease obligations $ 517 $ 483 Non-current lease liabilities Long-term operating lease obligations 3,883 4,275 Total lease liabilities $ 4,400 $ 4,758 |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | Payments (in thousands) Remainder of 2024 $ 204 2025 805 2026 795 2027 775 2028 429 Thereafter 3,054 Total undiscounted lease payments 6,062 Less: present value discount (1,662 ) Total lease liability balance $ 4,400 |
Note 7 - Accrued Expenses (Tabl
Note 7 - Accrued Expenses (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31, 2023 March 31, 2023 (in thousands) Bonus and profit sharing $ 100 $ 143 Wages 112 215 Vacation 354 393 Interest and legal 29 30 Other accrued expenses 158 320 Total accrued expenses $ 753 $ 1,101 |
Note 9 - Share-based Compensa_2
Note 9 - Share-based Compensation (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Share-based Compensation Shares Authorized Available and Outstanding by Plan [Table Text Block] | As of December 31, 2023 Authorized Available Outstanding 2016 Plan 1,300,000 805,359 343,416 2014 Directors Plan 650,000 33,220 12,000 Total 1,950,000 838,579 355,416 |
Share-Based Payment Arrangement, Option, Activity [Table Text Block] | Option Activity Shares Weighted Price Weighted Average Aggregate Outstanding at March 31, 2023 253,000 $ 2.88 7.5 $ — Granted 50,000 $ 0.79 Expired (6,000 ) $ 5.56 Outstanding at December 31, 2023 297,000 $ 2.47 7.4 $ 4,995 Exercisable at December 31, 2023 172,000 $ 2.76 6.6 $ — |
Schedule of Nonvested Share Activity [Table Text Block] | Nonvested Options Shares Weighted Nonvested at March 31, 2023 141,667 $ 1.55 Granted 50,000 0.48 Vested (66,667 ) 1.49 Nonvested at December 31, 2023 125,000 $ 1.16 |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Nonvested Restricted Stock Units Shares Weighted Nonvested restricted stock units at March 31, 2023 70,334 $ 3.04 Granted 28,018 0.83 Vested (37,996 ) 2.35 Forfeited (1,940 ) 1.99 Nonvested restricted stock units at December 31, 2023 58,416 $ 2.48 |
Note 12 - Earnings Per Share (T
Note 12 - Earnings Per Share (Tables) | 9 Months Ended |
Dec. 31, 2023 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended December 31, 2023 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (1,020 ) 6,554 $ (0.16 ) Three Months Ended December 31, 2022 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (598 ) 6,272 $ (0.10 ) Nine Months Ended December 31, 2023 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (3,186 ) 6,404 $ (0.50 ) Nine Months Ended December 31, 2022 Net Loss Shares Per Share (Numerator) (Denominator) Amount (in thousands) Basic and diluted loss per share $ (2,010 ) 6,235 $ (0.32 ) |
Note 1 - Organization and Bas_2
Note 1 - Organization and Basis of Presentation (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||||
Dec. 15, 2023 | Dec. 31, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Oct. 13, 2023 | Sep. 30, 2023 | Aug. 14, 2023 | Jun. 22, 2023 | Mar. 31, 2023 | Apr. 30, 2019 | Aug. 30, 2016 | |
Cash and Cash Equivalents, at Carrying Value | $ 661,000 | $ 661,000 | $ 974,000 | ||||||||
Working Capital (Deficit) | 3,747,000 | 3,747,000 | 5,393,000 | ||||||||
Line of Credit, Current | 0 | 0 | 1,540,000 | ||||||||
Lines of Credit, Related Party, Current | 1,250,000 | 1,250,000 | 500,000 | ||||||||
Long-term Debt and Capital Lease Obligations, Current and Noncurrent | 3,282,000 | 3,282,000 | |||||||||
Proceeds from Issuance of Common Stock | 392,000 | $ 0 | |||||||||
Proceeds from Lines of Credit, Related Parties | 750,000 | 500,000 | |||||||||
Unsecured Subordinated Loan From Skywords [Member] | |||||||||||
Debt Instrument, Face Amount | 1,000,000 | 1,000,000 | 1,000,000 | $ 1,500,000 | |||||||
Private Placement [Member] | |||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 400,000 | ||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 1 | ||||||||||
Legal Fees | $ 8,000 | ||||||||||
Proceeds from Issuance of Common Stock | $ 392,000 | ||||||||||
First Foundation Bank [Member] | |||||||||||
Proceeds from Lines of Credit | 1,360,000 | ||||||||||
First Foundation Bank [Member] | Revolving Credit Facility [Member] | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 2,000,000 | $ 2,000,000 | |||||||||
Line of Credit, Current | 1,360,000 | 1,360,000 | $ 1,480,000 | $ 1,770,000 | 1,540,000 | ||||||
Related Party 1 [Member] | Revolving Credit Facility [Member] | |||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 2,000,000 | 2,000,000 | $ 1,000,000 | $ 2,000,000 | $ 2,000,000 | 1,000,000 | |||||
Lines of Credit, Related Party, Current | 1,250,000 | $ 1,250,000 | $ 500,000 | ||||||||
Proceeds from Lines of Credit, Related Parties | $ 1,250,000 |
Note 2 - Significant Accounti_3
Note 2 - Significant Accounting Policies (Details Textual) | 3 Months Ended | 9 Months Ended | ||||
Dec. 31, 2023 | Mar. 31, 2023 | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Contract with Customer, Liability, Revenue Recognized | $ 6,000 | $ 2,000 | $ 24,000 | $ 94,000 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | ||||||
Number of Major Customers | 2 | 1 | 2 | 2 | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Number 1 [Member] | ||||||
Concentration Risk, Percentage | 34% | 36% | 36% | 35% | ||
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Customer Number 2 [Member] | ||||||
Concentration Risk, Percentage | 22% | 18% | 8% | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Two Customers [Member] | ||||||
Concentration Risk, Percentage | 82% | 46% |
Note 2 - Significant Accounti_4
Note 2 - Significant Accounting Policies - Revenue By Product (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Net sales | $ 5,582 | $ 5,891 | $ 17,101 | $ 17,786 |
Packaged Astaxanthin [Member] | ||||
Net sales | 3,691 | 3,113 | 10,195 | 9,492 |
Packaged Spirulina [Member] | ||||
Net sales | 1,277 | 1,147 | 4,447 | 3,719 |
Packaged Products [Member] | ||||
Net sales | 4,968 | 4,260 | 14,642 | 13,211 |
Bulk Astaxanthin [Member] | ||||
Net sales | 261 | 378 | 1,168 | 1,204 |
Bulk Spirulina [Member] | ||||
Net sales | 312 | 967 | 1,033 | 2,844 |
Bulk Products [Member] | ||||
Net sales | 573 | 1,345 | 2,201 | 4,048 |
Contract Extraction and R&D Services [Member] | ||||
Net sales | $ 41 | $ 286 | $ 258 | $ 527 |
Note 3 - Inventories (Details T
Note 3 - Inventories (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Inventory Abnormal Production Costs | $ 73,000 | $ 64,000 | $ 60,000 | $ 90,000 |
Non Inventoriable Fixed Costs | $ 71,000 | $ 72,000 | $ 396,000 | $ 115,000 |
Note 3 - Inventories - Componen
Note 3 - Inventories - Components of Inventory (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Raw materials | $ 1,369 | $ 1,887 |
Work in process | 2,508 | 2,049 |
Finished goods | 4,977 | 6,502 |
Supplies | 270 | 269 |
Inventories | $ 9,124 | $ 10,707 |
Note 4 - Equipment and Leaseh_3
Note 4 - Equipment and Leasehold Improvements (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Asset Impairment Charges | $ 0 | |||
Depreciation, Depletion and Amortization | $ 395,000 | $ 409,000 | $ 1,206,000 | $ 1,243,000 |
Note 4 - Equipment and Leaseh_4
Note 4 - Equipment and Leasehold Improvements - Components of Equipment and Leasehold Improvements (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Equipment and leasehold improvements, gross | $ 37,354 | $ 37,094 |
Less accumulated depreciation and amortization | (27,127) | (25,947) |
Construction-in-progress | 207 | 219 |
Equipment and leasehold improvements, net | 10,434 | 11,366 |
Equipment [Member] | ||
Equipment and leasehold improvements, gross | 21,864 | 21,649 |
Leasehold Improvements [Member] | ||
Equipment and leasehold improvements, gross | 15,071 | 15,038 |
Furniture and Fixtures [Member] | ||
Equipment and leasehold improvements, gross | $ 419 | $ 407 |
Note 5 - Line of Credit and L_3
Note 5 - Line of Credit and Long-term Debt (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended | ||||||||||||||
Dec. 31, 2023 | Oct. 13, 2023 | Apr. 12, 2021 | Aug. 14, 2012 | Apr. 30, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Mar. 31, 2023 | Mar. 31, 2020 | Sep. 30, 2023 | Aug. 14, 2023 | Jun. 22, 2023 | Jun. 21, 2023 | Dec. 14, 2022 | Apr. 30, 2019 | Aug. 30, 2016 | |
Line of Credit, Current | $ 0 | $ 0 | $ 0 | $ 1,540,000 | |||||||||||||
Long-Term Debt | 4,282,000 | 4,282,000 | 4,282,000 | ||||||||||||||
Long-term Debt and Capital Lease Obligations, Current and Noncurrent | 3,282,000 | 3,282,000 | 3,282,000 | ||||||||||||||
Debt Issuance Costs, Current, Net | 83,000 | 83,000 | 83,000 | 92,000 | |||||||||||||
Long-term Debt, Current Maturities, Total | 5,809,000 | 5,809,000 | 5,809,000 | 5,409,000 | |||||||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | 420,000 | $ 242,000 | |||||||||||||||
Lines of Credit, Related Party, Current | 1,250,000 | 1,250,000 | 1,250,000 | 500,000 | |||||||||||||
Unsecured Subordinated Loan [Member] | |||||||||||||||||
Long-Term Debt, Gross | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | |||||||||||||
Term Loan Agreement, Maturing on August 14, 2032 [Member] | |||||||||||||||||
Debt Instrument Reference Rate | 8.50% | 8.50% | 8.50% | 7.50% | |||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1% | ||||||||||||||||
Proceeds from Issuance of Debt | $ 5,500,000 | ||||||||||||||||
Debt Instrument Interest Payment Period (Month) | 12 months | ||||||||||||||||
Debt Instrument Amortization Period (Year) | 19 years | ||||||||||||||||
Long-term Debt and Capital Lease Obligations, Current and Noncurrent | $ 3,282,000 | $ 3,282,000 | $ 3,282,000 | $ 3,461,000 | |||||||||||||
Debt Instrument One Time Origination and Guaranty Fees | $ 214,500 | ||||||||||||||||
Debt Instrument Annual Renewal Fee Payable Percentage | 0.25% | 0.25% | 0.25% | ||||||||||||||
Debt Instrument Guaranteed Portion | 80% | ||||||||||||||||
Debt Covenant, Further Advances of Credit Agreement, Immediate Freeze | $ 1,770,000 | ||||||||||||||||
Term Loan Agreement, Promissory Note One [Member] | |||||||||||||||||
Proceeds from Issuance of Debt | $ 2,250,000 | ||||||||||||||||
Term Loan Agreement, Promissory Note Two [Member] | |||||||||||||||||
Proceeds from Issuance of Debt | $ 3,250,000 | ||||||||||||||||
Skywords Note [Member] | |||||||||||||||||
Debt Instrument Reference Rate | 8.50% | 8.50% | 8.50% | 7.50% | |||||||||||||
Repayments of Long-term Debt, Total | $ 500,000 | $ 500,000 | |||||||||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 1,900 | 1,900 | |||||||||||||||
Skywords Note [Member] | Unsecured Subordinated Loan [Member] | |||||||||||||||||
Long-Term Debt | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 | |||||||||||||
Debt Instrument, Face Amount | $ 1,500,000 | ||||||||||||||||
Long-term Debt, Current Maturities, Total | $ 500,000 | ||||||||||||||||
Long-Term Debt, Gross | $ 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 | |||||||||||||
Skywords Amended Note [Member] | |||||||||||||||||
Debt Instrument, Floor Interest Rate | 5% | 5% | |||||||||||||||
Debt Instrument, Face Amount | $ 500,000 | $ 1,000,000 | |||||||||||||||
Minimum [Member] | Term Loan Agreement, Maturing on August 14, 2032 [Member] | |||||||||||||||||
Debt Instrument, Interest Rate During Period | 5.50% | ||||||||||||||||
Prime Rate [Member] | Skywords Note [Member] | |||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1% | ||||||||||||||||
Prime Rate [Member] | Skywords Note [Member] | Unsecured Subordinated Loan [Member] | |||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1% | ||||||||||||||||
Prime Rate [Member] | Skywords Amended Note [Member] | |||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1% | ||||||||||||||||
Prime Rate [Member] | Minimum [Member] | Skywords Note [Member] | |||||||||||||||||
Debt Instrument, Interest Rate During Period | 5% | ||||||||||||||||
First Foundation Bank [Member] | Term Loan Converted From Line of Credit [Member] | |||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2% | ||||||||||||||||
Debt Instrument, Periodic Payment | $ 40,000 | ||||||||||||||||
Debt Instrument, Floor Interest Rate | 7% | ||||||||||||||||
Long-Term Debt | $ 1,360,000 | $ 1,360,000 | $ 1,360,000 | ||||||||||||||
Debt Instrument, Interest Rate During Period | 8.50% | ||||||||||||||||
First Foundation Bank [Member] | Minimum [Member] | |||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.25% | 5.25% | 5.25% | ||||||||||||||
First Foundation Bank [Member] | Prime Rate [Member] | Term Loan Converted From Line of Credit [Member] | |||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2% | ||||||||||||||||
First Foundation Bank [Member] | Revolving Credit Facility [Member] | |||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 2,000,000 | $ 2,000,000 | |||||||||||||||
Line of Credit, Current | $ 1,360,000 | $ 1,480,000 | $ 1,360,000 | $ 1,360,000 | 1,540,000 | $ 1,770,000 | |||||||||||
Long-Term Line of Credit | $ 1,540,000 | ||||||||||||||||
First Foundation Bank [Member] | Revolving Credit Facility [Member] | Prime Rate [Member] | |||||||||||||||||
Debt Instrument Reference Rate | 8% | ||||||||||||||||
Debt Instrument, Basis Spread on Variable Rate | 2% | ||||||||||||||||
Related Party 1 [Member] | Revolving Credit Facility [Member] | |||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 2,000,000 | $ 2,000,000 | $ 1,000,000 | $ 2,000,000 | $ 1,000,000 | $ 2,000,000 | $ 2,000,000 | ||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.50% | 9.50% | 9.50% | 8.50% | |||||||||||||
Lines of Credit, Related Party, Current | $ 1,250,000 | $ 1,250,000 | $ 1,250,000 | $ 500,000 |
Note 5 - Line of Credit and L_4
Note 5 - Line of Credit and Long-term Debt - Summary of Line of Credit and Long-term Debt (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Short term debt - bank | $ 1,360 | $ 0 |
Unamortized debt issuance costs | (83) | (92) |
Less current maturities | (5,809) | (5,409) |
Total long-term debt, net of current maturities | 1,000 | 1,000 |
Line of Credit Excluding Related Party [Member] | ||
Long-term debt | 0 | 1,540 |
Long-term debt | 0 | 1,540 |
Line of Credit, Related Party [Member] | ||
Long-term debt | 1,250 | 500 |
Long-term debt | 1,250 | 500 |
Long-term Debt, Excluding Related Party Debt [Member] | ||
Long-term debt | 3,282 | 3,461 |
Long-term debt | 3,282 | 3,461 |
Unsecured Subordinated Loan [Member] | ||
Long-term debt | 1,000 | 1,000 |
Long-term debt | $ 1,000 | $ 1,000 |
Note 5 - Line of Credit and L_5
Note 5 - Line of Credit and Long-term Debt - Future Payments (Details) $ in Thousands | Dec. 31, 2023 USD ($) |
Remainder of 2024 | $ 3,282 |
2026 | 1,000 |
Total principal payments | $ 4,282 |
Note 6 - Operating Leases (Deta
Note 6 - Operating Leases (Details Textual) | 9 Months Ended | |
Dec. 31, 2023 USD ($) | Dec. 31, 2022 USD ($) | |
Operating Lease, Weighted Average Remaining Lease Term (Year) | 9 years 3 months 18 days | |
Operating Lease, Weighted Average Discount Rate, Percent | 7.30% | |
Operating Lease, Expense | $ 615,000 | $ 517,000 |
Solar Lease for Buildings [Member] | ||
Leases, Number of Lease Properties | 2 | |
Lessee, Operating Lease, Term of Contract (Month) | 84 months |
Note 6 - Operating Leases - Sup
Note 6 - Operating Leases - Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Right-of-use assets | $ 6,149 | $ 6,149 |
Accumulated lease amortization | (1,740) | (1,373) |
Total right-of-use assets | 4,409 | 4,776 |
Current lease liabilities | 517 | 483 |
Non-current lease liabilities | 3,883 | 4,275 |
Total lease liabilities | $ 4,400 | $ 4,758 |
Note 6 - Operating Leases - Ope
Note 6 - Operating Leases - Operating Leases Maturities (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Remainder of 2024 | $ 204 | |
2025 | 805 | |
2026 | 795 | |
2027 | 775 | |
2028 | 429 | |
Thereafter | 3,054 | |
Total undiscounted lease payments | 6,062 | |
Less: present value discount | (1,662) | |
Total lease liability balance | $ 4,400 | $ 4,758 |
Note 7 - Accrued Expenses - Com
Note 7 - Accrued Expenses - Components of Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2023 | Mar. 31, 2023 |
Bonus and profit sharing | $ 100 | $ 143 |
Wages | 112 | 215 |
Vacation | 354 | 393 |
Interest and legal | 29 | 30 |
Other accrued expenses | 158 | 320 |
Total accrued expenses | $ 753 | $ 1,101 |
Note 9 - Share-based Compensa_3
Note 9 - Share-based Compensation (Details Textual) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||||
Oct. 13, 2023 shares | Apr. 03, 2023 shares | Dec. 31, 2023 USD ($) $ / shares | Dec. 31, 2022 USD ($) | Dec. 31, 2023 USD ($) $ / shares shares | Dec. 31, 2022 USD ($) shares | Mar. 31, 2023 USD ($) $ / shares | |
Number of Shareholder Approved Share-based Compensation Plans | 2 | 2 | |||||
ShareBased Compensation Arrangement By Share Based Payment Award Weighted Average Grant Date Fair Value Options Granted | $ 24,000 | ||||||
Share-Based Payment Arrangement, Option [Member] | |||||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 79,000 | $ 79,000 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 4 months 24 days | ||||||
Share-Based Payment Arrangement, Option [Member] | Employees [Member] | |||||||
Share-Based Payment Arrangement, Expense | $ 24,000 | $ 25,000 | $ 73,000 | $ 66,000 | |||
Share Price (in dollars per share) | $ / shares | $ 0.89 | $ 0.89 | $ 0.88 | ||||
Share-Based Payment Arrangement, Option [Member] | Maximum [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||
Restricted Stock [Member] | Share-Based Payment Arrangement, Nonemployee [Member] | |||||||
Share-Based Payment Arrangement, Expense | $ 126,000 | $ 158,000 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares | 159,493 | 64,489 | |||||
Restricted Stock [Member] | Two Board Members [Member] | Share-Based Payment Arrangement, Nonemployee [Member] | |||||||
Share-Based Payment Arrangement, Expense | $ 0 | $ 15,500 | |||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares | 17,672 | ||||||
Restricted Stock [Member] | One Board Member [Member] | Share-Based Payment Arrangement, Nonemployee [Member] | |||||||
Share-Based Payment Arrangement, Expense | $ 10,000 | ||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares | 12,821 | ||||||
Restricted Stock Units (RSUs) [Member] | |||||||
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period (in shares) | shares | 28,018 | ||||||
Restricted Stock Units (RSUs) [Member] | Employees [Member] | |||||||
Share-Based Payment Arrangement, Expense | $ 20,000 | $ 20,000 | $ 66,000 | $ 42,000 | |||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount | $ 92,000 | $ 92,000 | |||||
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year 7 months 6 days |
Note 9 - Share-based Compensa_4
Note 9 - Share-based Compensation - Shares Authorized, Available for Future Grant and Outstanding Under Each Plan (Details) | Dec. 31, 2023 shares |
Authorized (in shares) | 1,950,000 |
Available (in shares) | 838,579 |
Outstanding (in shares) | 355,416 |
The 2016 Plan [Member] | |
Authorized (in shares) | 1,300,000 |
Available (in shares) | 805,359 |
Outstanding (in shares) | 343,416 |
2014 Directors Plan [Member] | |
Authorized (in shares) | 650,000 |
Available (in shares) | 33,220 |
Outstanding (in shares) | 12,000 |
Note 9 - Share-based Compensa_5
Note 9 - Share-based Compensation - Summary of Option Activity Under Stock Plans (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
Dec. 31, 2023 | Mar. 31, 2023 | |
Outstanding (in shares) | 253,000 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.88 | |
Outstanding, weighted average remaining contractual term (Year) | 7 years 4 months 24 days | 7 years 6 months |
Granted (in shares) | 50,000 | |
Granted, weighted average exercise price (in dollars per share) | $ 0.79 | |
Expired (in shares) | (6,000) | |
Expired, weighted average exercise price (in dollars per share) | $ 5.56 | |
Outstanding (in shares) | 297,000 | 253,000 |
Outstanding, weighted average exercise price (in dollars per share) | $ 2.47 | $ 2.88 |
Outstanding, aggregate intrinsic value | $ 4,995 | |
Exercisable (in shares) | 172,000 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 2.76 | |
Exercisable, weighted average remaining contractual term (Year) | 6 years 7 months 6 days |
Note 9 - Share-based Compensa_6
Note 9 - Share-based Compensation - Summary of Non-vested Options (Details) | 9 Months Ended |
Dec. 31, 2023 $ / shares shares | |
Nonvested (in shares) | shares | 141,667 |
Nonvested (in dollars per share) | $ / shares | $ 1.55 |
Granted (in shares) | shares | 50,000 |
Granted (in dollars per share) | $ / shares | $ 0.48 |
Vested (in shares) | shares | (66,667) |
Vested (in dollars per share) | $ / shares | $ 1.49 |
Nonvested (in shares) | shares | 125,000 |
Nonvested (in dollars per share) | $ / shares | $ 1.16 |
Note 9 - Share-based Compensa_7
Note 9 - Share-based Compensation - Restricted Stock Units (Details) - Restricted Stock Units (RSUs) [Member] | 9 Months Ended |
Dec. 31, 2023 $ / shares shares | |
Nonvested restricted stock units (in shares) | shares | 70,334 |
Nonvested restricted stock units, weighted average grant price (in dollars per share) | $ / shares | $ 3.04 |
Granted (in shares) | shares | 28,018 |
Granted, weighted average grant price (in dollars per share) | $ / shares | $ 0.83 |
Vested (in shares) | shares | (37,996) |
Vested, weighted average grant price (in dollars per share) | $ / shares | $ 2.35 |
Forfeited (in shares) | shares | (1,940) |
Forfeited, weighted average grant price (in dollars per share) | $ / shares | $ 1.99 |
Nonvested restricted stock units (in shares) | shares | 58,416 |
Nonvested restricted stock units, weighted average grant price (in dollars per share) | $ / shares | $ 2.48 |
Note 10 - Stockholders' Equity
Note 10 - Stockholders' Equity (Details Textual) - USD ($) | 9 Months Ended | |||
Dec. 15, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2023 | |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.02 | $ 0.02 | ||
Proceeds from Issuance of Common Stock | $ 392,000 | $ 0 | ||
Private Placement [Member] | ||||
Stock Issued During Period, Shares, New Issues (in shares) | 400,000 | |||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.02 | |||
Shares Issued, Price Per Share (in dollars per share) | $ 1 | |||
Proceeds From Sale of Common Stock, Gross Value | $ 400,000 | |||
Legal Fees | 8,000 | |||
Proceeds from Issuance of Common Stock | $ 392,000 |
Note 11 - Income Taxes (Details
Note 11 - Income Taxes (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2023 | |
Income Tax Expense (Benefit) | $ 0 | $ 8,000 | $ 2,000 | $ 11,000 | |
Effective Income Tax Rate Reconciliation, Percent | 1.40% | 0.10% | 0.60% | ||
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21% | ||||
Unrecognized Tax Benefits | $ 0 | $ 0 | $ 0 | $ 0 |
Note 12 - Earnings Per Share (D
Note 12 - Earnings Per Share (Details Textual) - shares | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Common Stock Options and Restricted Stock Units [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 4,000 | 1,000 | 600 | 4,000 |
Note 12 - Earnings Per Share -
Note 12 - Earnings Per Share - Summary of Reconciliations Between the Numerator and the Denominator of the Basic and Diluted Earnings Per Share Computations (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Net loss | $ (1,020) | $ (598) | $ (3,186) | $ (2,010) |
Basic (in shares) | 6,554 | 6,272 | 6,404 | 6,235 |
Basic (in dollars per share) | $ (0.16) | $ (0.1) | $ (0.5) | $ (0.32) |
Note 13 - Related Party Trans_2
Note 13 - Related Party Transactions (Details Textual) - USD ($) | 1 Months Ended | 9 Months Ended | 12 Months Ended | |||||||
Apr. 12, 2021 | Apr. 30, 2021 | Dec. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2020 | Sep. 30, 2023 | Aug. 14, 2023 | Mar. 31, 2023 | Dec. 14, 2022 | Apr. 30, 2019 | |
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 420,000 | $ 242,000 | ||||||||
Long-Term Debt | 4,282,000 | |||||||||
Lines of Credit, Related Party, Current | 1,250,000 | $ 500,000 | ||||||||
Revolving Credit Facility [Member] | Related Party 1 [Member] | ||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | 2,000,000 | $ 1,000,000 | $ 2,000,000 | $ 2,000,000 | 1,000,000 | |||||
Lines of Credit, Related Party, Current | $ 1,250,000 | $ 500,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 9.50% | 8.50% | ||||||||
Conversion of Skywords Note Into Revolving Loans [Member] | ||||||||||
Debt Conversion, Original Debt, Amount | $ 500,000 | |||||||||
Skywords Note [Member] | ||||||||||
Repayments of Long-term Debt, Total | 500,000 | $ 500,000 | ||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | 1,900 | $ 1,900 | ||||||||
Skywords Note [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1% | |||||||||
Skywords Note [Member] | Unsecured Subordinated Loan [Member] | ||||||||||
Debt Instrument, Face Amount | $ 1,500,000 | |||||||||
Long-Term Debt | $ 1,000,000 | $ 1,000,000 | ||||||||
Skywords Note [Member] | Unsecured Subordinated Loan [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1% | |||||||||
Skywords Amended Note [Member] | ||||||||||
Debt Instrument, Face Amount | $ 500,000 | $ 1,000,000 | ||||||||
Debt Instrument, Term (Year) | 3 years | |||||||||
Debt Instrument, Floor Interest Rate | 5% | 5% | ||||||||
Skywords Amended Note [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument, Basis Spread on Variable Rate | 1% |