Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2023 | Nov. 09, 2023 | |
Document Information [Line Items] | ||
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2023 | |
Document Transition Report | false | |
Entity File Number | 333-82900 | |
Entity Registrant Name | ThermoGenesis Holdings, Inc. | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 94-3018487 | |
Entity Address, Address Line One | 2711 Citrus Road | |
Entity Address, City or Town | Rancho Cordova | |
Entity Address, State or Province | CA | |
Entity Address, Postal Zip Code | 95742 | |
City Area Code | 916 | |
Local Phone Number | 858-5100 | |
Title of 12(b) Security | Common Stock, $.001 par value | |
Trading Symbol | THMO | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding (in shares) | 3,136,504 | |
Entity Central Index Key | 0000811212 | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Year Focus | 2023 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets: | ||
Cash and cash equivalents | $ 4,018,000 | $ 4,177,000 |
Accounts receivable, net of allowance for credit losses of $2,000 ($149,000 at December 31, 2022) | 368,000 | 1,865,000 |
Inventories | 1,821,000 | 3,334,000 |
Prepaid expenses and other current assets | 718,000 | 1,508,000 |
Total current assets | 6,925,000 | 10,884,000 |
Inventories, non-current | 772,000 | 1,003,000 |
Equipment and leasehold improvements, net | 2,523,000 | 1,254,000 |
Right-of-use operating lease assets, net | 190,000 | 372,000 |
Goodwill | 781,000 | 781,000 |
Intangible assets, net | 1,262,000 | 1,286,000 |
Other assets | 255,000 | 256,000 |
Total assets | 15,921,000 | 19,386,000 |
Accounts payable | 591,000 | 820,000 |
Accrued payroll and related expenses | 451,000 | 399,000 |
Deferred revenue – short-term | 818,000 | 782,000 |
Convertible promissory note – related party | 4,817,000 | 5,777,000 |
Interest payable – related party | 225,000 | 1,492,000 |
Convertible promissory note, net | 456,000 | 962,000 |
Other current liabilities | 1,532,000 | 1,277,000 |
Total current liabilities | 8,890,000 | 11,509,000 |
Operating lease obligations – long-term | 131,000 | |
Deferred revenue – long-term | 680,000 | 911,000 |
Other noncurrent liabilities | 17,000 | 17,000 |
Total liabilities | 12,658,000 | 16,063,000 |
Commitments and Contingencies | ||
Common stock, $0.001 par value; 350,000,000 shares authorized; 3,136,504 issued and outstanding (1,037,138 at December 31, 2022) | 3,000 | 1,000 |
Additional paid in capital | 281,632,000 | 270,377,000 |
Accumulated deficit | (277,154,000) | (266,193,000) |
Accumulated other comprehensive loss | 114,000 | 111,000 |
Total ThermoGenesis Holdings, Inc. stockholders’ equity | 4,595,000 | 4,296,000 |
Noncontrolling interests | (1,332,000) | (973,000) |
Total equity | 3,263,000 | 3,323,000 |
Total liabilities and equity | 15,921,000 | 19,386,000 |
Lease Agreement with Z3 Investment LLC [Member] | ||
Current assets: | ||
Right-of-use operating lease assets, net | 3,213,000 | 3,550,000 |
Operating lease obligations – long-term | $ 3,071,000 | $ 3,495,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Accounts receivable, allowance for doubtful accounts | $ 2,000 | $ 149,000 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 350,000,000 | 350,000,000 |
Common Stock, Shares, Outstanding (in shares) | 3,136,504 | 1,037,138 |
Common Stock, Shares, Issued (in shares) | 3,136,504 | 1,037,138 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net revenues | $ 2,194,000 | $ 2,115,000 | $ 7,039,000 | $ 7,807,000 |
Cost of revenues | 1,799,000 | 1,678,000 | 5,070,000 | 5,491,000 |
Gross profit | 395,000 | 437,000 | 1,969,000 | 2,316,000 |
Selling, general and administrative | 1,686,000 | 1,982,000 | 5,346,000 | 5,665,000 |
Research and development | 266,000 | 470,000 | 955,000 | 1,317,000 |
Total operating expenses | 1,952,000 | 2,452,000 | 6,301,000 | 6,982,000 |
Loss from operations | (1,557,000) | (2,015,000) | (4,332,000) | (4,666,000) |
Other expenses: | ||||
Interest expense | (2,118,000) | (1,391,000) | (6,689,000) | (3,572,000) |
Loss on retirement of debt | (87,000) | (326,000) | ||
Other income (expenses) | (22,000) | (3,000) | (27,000) | 1,000 |
Total other expenses | (2,183,000) | (1,388,000) | (6,988,000) | (3,573,000) |
Net loss | (3,740,000) | (3,403,000) | (11,320,000) | (8,239,000) |
Loss attributable to noncontrolling interests | (125,000) | (163,000) | (359,000) | (402,000) |
Net loss attributable to common stockholders | (3,615,000) | (3,240,000) | (10,961,000) | (7,837,000) |
Comprehensive Income (Loss), Net of Tax, Attributable to Parent [Abstract] | ||||
Net loss | (3,740,000) | (3,403,000) | (11,320,000) | (8,239,000) |
Other comprehensive loss: | ||||
Foreign currency translation adjustments gain (loss) | 9,000 | 22,000 | 3,000 | 67,000 |
Comprehensive loss | (3,731,000) | (3,381,000) | (11,317,000) | (8,172,000) |
Comprehensive loss attributable to noncontrolling interests | (125,000) | (163,000) | (359,000) | (402,000) |
Comprehensive loss attributable to common stockholders | $ (3,606,000) | $ (3,218,000) | $ (10,958,000) | $ (7,770,000) |
Earnings Per Share [Abstract] | ||||
Basic and diluted net loss per common share (in dollars per share) | $ (1.44) | $ (4.66) | $ (5.26) | $ (18.49) |
Weighted average common shares outstanding basicand diluted (in shares) | 2,503,631 | 694,795 | 2,083,095 | 423,897 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Equity (Unaudited) - USD ($) | Common Stock [Member] At The Market Offering Agreement [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] Cumulative Effect, Period of Adoption, Adjustment [Member] | Additional Paid-in Capital [Member] Related Party Convertible Debt Price Reset [Member] | Additional Paid-in Capital [Member] At The Market Offering Agreement [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Noncontrolling Interest [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Related Party Convertible Debt Price Reset [Member] | At The Market Offering Agreement [Member] | Total | |
Balance (in shares) at Dec. 31, 2021 | 279,629 | ||||||||||||||
Balance (Accounting Standards Update 2020-06 [Member]) at Dec. 31, 2021 | $ (10,681,000) | $ 9,739,000 | $ (942,000) | ||||||||||||
Balance at Dec. 31, 2021 | $ 268,459,000 | $ (264,662,000) | $ 31,000 | [1] | $ (431,000) | $ 3,397,000 | |||||||||
Stock-based compensation expense | 42,000 | 42,000 | |||||||||||||
Related party convertible note price reset | $ 213,000 | $ 213,000 | |||||||||||||
Sale of common stock and warrants, net (in shares) | 20,407 | ||||||||||||||
Sale of common stock and warrants, net | $ 594,000 | $ 594,000 | |||||||||||||
Foreign currency translation gain | 14,000 | [1] | 14,000 | ||||||||||||
Net loss | (1,910,000) | (126,000) | (2,036,000) | ||||||||||||
Balance (in shares) at Mar. 31, 2022 | 300,036 | ||||||||||||||
Balance at Mar. 31, 2022 | 258,627,000 | (256,833,000) | 45,000 | [1] | (557,000) | 1,282,000 | |||||||||
Balance (in shares) at Dec. 31, 2021 | 279,629 | ||||||||||||||
Balance (Accounting Standards Update 2020-06 [Member]) at Dec. 31, 2021 | $ (10,681,000) | $ 9,739,000 | $ (942,000) | ||||||||||||
Balance at Dec. 31, 2021 | 268,459,000 | (264,662,000) | 31,000 | [1] | (431,000) | 3,397,000 | |||||||||
Foreign currency translation gain | 67,000 | ||||||||||||||
Balance (in shares) at Sep. 30, 2022 | 710,967 | ||||||||||||||
Balance at Sep. 30, 2022 | $ 1,000 | 267,761,000 | (262,761,000) | 98,000 | [1] | (833,000) | 4,266,000 | ||||||||
Balance (in shares) at Mar. 31, 2022 | 300,036 | ||||||||||||||
Balance at Mar. 31, 2022 | 258,627,000 | (256,833,000) | 45,000 | [1] | (557,000) | 1,282,000 | |||||||||
Stock-based compensation expense | 72,000 | 72,000 | |||||||||||||
Related party convertible note price reset | 2,475,000 | 2,475,000 | |||||||||||||
Conversion of note payable to common stock (in shares) | 234,495 | ||||||||||||||
Conversion of note payable to common stock | $ 1,000 | 2,999,000 | 3,000,000 | ||||||||||||
Sale of common stock and warrants, net (in shares) | 97,726 | ||||||||||||||
Sale of common stock and warrants, net | 1,450,000 | 1,450,000 | |||||||||||||
Foreign currency translation gain | 31,000 | [1] | 31,000 | ||||||||||||
Net loss | (2,688,000) | (113,000) | (2,801,000) | ||||||||||||
Conversion of related party note payable to common stock (in shares) | 234,495 | ||||||||||||||
Conversion of related party note payable to common stock | $ 1,000 | 2,999,000 | 3,000,000 | ||||||||||||
Balance (in shares) at Jun. 30, 2022 | 632,257 | ||||||||||||||
Balance at Jun. 30, 2022 | $ 1,000 | 265,623,000 | (259,521,000) | 76,000 | [1] | (670,000) | 5,509,000 | ||||||||
Stock-based compensation expense | 70,000 | 70,000 | |||||||||||||
Related party convertible note price reset | 1,075,000 | 1,075,000 | |||||||||||||
Sale of common stock and warrants, net (in shares) | 78,710 | ||||||||||||||
Sale of common stock and warrants, net | $ 993,000 | $ 993,000 | |||||||||||||
Foreign currency translation gain | 22,000 | [1] | 22,000 | ||||||||||||
Net loss | (3,240,000) | (163,000) | (3,403,000) | ||||||||||||
Balance (in shares) at Sep. 30, 2022 | 710,967 | ||||||||||||||
Balance at Sep. 30, 2022 | $ 1,000 | 267,761,000 | (262,761,000) | 98,000 | [1] | (833,000) | 4,266,000 | ||||||||
Balance (in shares) at Dec. 31, 2022 | 1,037,138 | ||||||||||||||
Balance at Dec. 31, 2022 | $ 1,000 | 270,377,000 | (266,193,000) | 111,000 | (973,000) | 3,323,000 | |||||||||
Stock-based compensation expense | 10,000 | 10,000 | |||||||||||||
Related party convertible note price reset | 3,160,000 | 43,000 | 3,160,000 | 43,000 | |||||||||||
Conversion of note payable to common stock (in shares) | 215,000 | ||||||||||||||
Conversion of note payable to common stock | $ 1,000 | 602,000 | 603,000 | ||||||||||||
Sale of common stock and warrants, net (in shares) | 125,000 | ||||||||||||||
Sale of common stock and warrants, net | 2,640,000 | 2,640,000 | |||||||||||||
Exercise of warrants (in shares) | 158,731 | ||||||||||||||
Exercise of warrants | 421,000 | 421,000 | |||||||||||||
Foreign currency translation gain | (6,000) | (6,000) | |||||||||||||
Net loss | (5,086,000) | (96,000) | (5,182,000) | ||||||||||||
Conversion of related party note payable to common stock (in shares) | 215,000 | ||||||||||||||
Conversion of related party note payable to common stock | $ 1,000 | 602,000 | 603,000 | ||||||||||||
Balance (in shares) at Mar. 31, 2023 | 1,535,869 | ||||||||||||||
Balance at Mar. 31, 2023 | $ 2,000 | 277,253,000 | (271,279,000) | 105,000 | (1,069,000) | 5,012,000 | |||||||||
Balance (in shares) at Dec. 31, 2022 | 1,037,138 | ||||||||||||||
Balance at Dec. 31, 2022 | $ 1,000 | 270,377,000 | (266,193,000) | 111,000 | (973,000) | 3,323,000 | |||||||||
Related party convertible note price reset | 6,820,000 | ||||||||||||||
Sale of common stock and warrants, net (in shares) | 196,843 | ||||||||||||||
Foreign currency translation gain | 3,000 | ||||||||||||||
Balance (in shares) at Sep. 30, 2023 | 3,136,504 | ||||||||||||||
Balance at Sep. 30, 2023 | $ 3,000 | 281,632,000 | (277,154,000) | 114,000 | (1,332,000) | 3,263,000 | |||||||||
Balance (in shares) at Mar. 31, 2023 | 1,535,869 | ||||||||||||||
Balance at Mar. 31, 2023 | $ 2,000 | 277,253,000 | (271,279,000) | 105,000 | (1,069,000) | 5,012,000 | |||||||||
Stock-based compensation expense | 13,000 | 13,000 | |||||||||||||
Exercise of warrants (in shares) | 946,429 | ||||||||||||||
Net loss | (2,260,000) | (138,000) | (2,398,000) | ||||||||||||
Balance (in shares) at Jun. 30, 2023 | 2,482,298 | ||||||||||||||
Balance at Jun. 30, 2023 | $ 2,000 | 277,266,000 | (273,539,000) | 105,000 | (1,207,000) | 2,627,000 | |||||||||
Stock-based compensation expense | 7,000 | 7,000 | |||||||||||||
Related party convertible note price reset | $ 3,660,000 | $ 3,660,000 | |||||||||||||
Conversion of note payable to common stock (in shares) | 654,206 | ||||||||||||||
Conversion of note payable to common stock | $ 1,000 | 699,000 | 700,000 | ||||||||||||
Foreign currency translation gain | 9,000 | 9,000 | |||||||||||||
Net loss | (3,615,000) | (125,000) | (3,740,000) | ||||||||||||
Conversion of related party note payable to common stock (in shares) | 654,206 | ||||||||||||||
Conversion of related party note payable to common stock | $ 1,000 | 699,000 | 700,000 | ||||||||||||
Balance (in shares) at Sep. 30, 2023 | 3,136,504 | ||||||||||||||
Balance at Sep. 30, 2023 | $ 3,000 | $ 281,632,000 | $ (277,154,000) | $ 114,000 | $ (1,332,000) | $ 3,263,000 | |||||||||
[1]Accumulated other comprehensive loss. |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Net Cash Provided by (Used in) Operating Activities [Abstract] | ||
Net loss | $ (11,320,000) | $ (8,239,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 816,000 | 666,000 |
Stock based compensation expense | 30,000 | 184,000 |
Amortization of debt discount/premium, net | 5,396,000 | 1,897,000 |
Reserve for excess and slow-moving inventories | 480,000 | 654,000 |
Loss on retirement of debt | 326,000 | |
Net change in operating assets and liabilities: | ||
Accounts receivable | 1,496,000 | (1,323,000) |
Inventories | 1,264,000 | 582,000 |
Prepaid expenses and other assets | 791,000 | 757,000 |
Accounts payable | (226,000) | (210,000) |
Interest payable – related party | (289,000) | (1,132,000) |
Accrued payroll and related expenses | 52,000 | 145,000 |
Deferred revenue – short-term | 37,000 | 122,000 |
Other current liabilities | 255,000 | 446,000 |
Long-term deferred revenue and other noncurrent liabilities | (786,000) | (650,000) |
Net cash used in operating activities | (1,678,000) | (6,101,000) |
Net Cash Provided by (Used in) Investing Activities [Abstract] | ||
Capital expenditures | (1,541,000) | (308,000) |
Net cash used in investing activities | (1,541,000) | (308,000) |
Net Cash Provided by (Used in) Financing Activities [Abstract] | ||
Proceeds from issuance of common stock, net of expenses | 2,640,000 | 3,037,000 |
Proceeds from the exercise of warrants | 421,000 | |
Net cash provided by financing activities | 3,061,000 | 3,037,000 |
Effects of foreign currency rate changes on cash and cash equivalents | (1,000) | (5,000) |
Net increase (decrease) in cash and cash equivalents | (159,000) | (3,377,000) |
Cash and cash equivalents at beginning of period | 4,177,000 | 7,280,000 |
Cash and cash equivalents at end of period | 4,018,000 | 3,903,000 |
Supplemental Cash Flow Information [Abstract] | ||
Cash paid for related party interest | 1,492,000 | 2,628,000 |
Cash paid for interest | 140,000 | 180,000 |
Right-to-use asset acquired under operating lease, related party | 3,863,000 | |
Related Party Convertible Debt Price Reset [Member] | ||
Supplemental Cash Flow Information [Abstract] | ||
Convertible note price reset | 6,820,000 | |
Nonrelated Party [Member] | ||
Supplemental Cash Flow Information [Abstract] | ||
Convertible note price reset | 43,000 | |
Related party convertible note converted to common stock | 603,000 | |
Related Party [Member] | ||
Supplemental Cash Flow Information [Abstract] | ||
Related party convertible note converted to common stock | 700,000 | $ 3,000,000 |
January 2023 Convertible Note [Member] | ||
Supplemental Cash Flow Information [Abstract] | ||
Fair value of amended convertible note issued in connection with the extinguishment of original convertible note | 1,239,000 | |
July 2023 Convertible Note [Member] | ||
Supplemental Cash Flow Information [Abstract] | ||
Fair value of amended convertible note issued in connection with the extinguishment of original convertible note | $ 484,000 |
Note 1 - Description of Busines
Note 1 - Description of Business | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. Description of Business Overview ThermoGenesis Holdings, Inc. (“ThermoGenesis Holdings,” the “Company,” “we,” “our,” “us”) develops and commercializes a range of automated technologies for cell-banking, cell-processing, and cell-based therapeutics. Since the 1990’s, ThermoGenesis Holdings has been a pioneer in, and a leading provider of automated systems that isolate, purify and cryogenically store units of hematopoietic stem and progenitor cells for the cord blood banking industry. The Company was founded in 1986 and is incorporated in the State of Delaware and headquartered in Rancho Cordova, CA. Our common stock is traded on the Nasdaq Capital Market under the ticker symbol “THMO”. Medical Device Products for Automated Cell Processing The Company provides the AutoXpress® and BioArchive® platforms for automated clinical bio-banking, PXP® platform for point-of-care cell-based therapies and the CAR-TXpress™ platform for large scale cell manufacturing services. All product lines are reporting as a single reporting segment in the financial statements. CDMO Business The Company is expanding its business to include contract development and manufacturing services for cell and cell-based gene therapies. The Company is in the process of building out the capabilities to become a world-class Contract Development and Manufacturing Organization (“CDMO”) for cell and cell-based gene therapies. The Company is building out a new facility in the Sacramento metro area, containing a total of 12, class-7, ReadyStart cGMP Suites available for lease by early-stage life science and cell gene therapy companies. The ReadyStart Suites are located in a 35,500+ square foot cGMP facility that will meet the highest scientific, quality, and regulatory requirements. The CDMO facility was completed in October of 2023. Reverse Stock Split On December 22, 2022, we effected a one (1) for forty-five ( 45 |
Note 2 - Going Concern
Note 2 - Going Concern | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 2. Going Concern The Company has incurred historical losses from operations and expects to continue to incur operating losses in the near future. The Company may need to raise additional capital to grow its business, fund operating expenses and make interest payments. The Company’s ability to fund its liquidity needs is subject to various risks, many of which are beyond its control. The Company may seek additional funding through debt borrowings, sales of debt or equity securities or strategic partnerships. The Company cannot guarantee that such funding will be available on a timely basis, in needed quantities or on terms favorable to the Company, if at all. These factors and other indicators raise substantial doubt about the Company’s ability to continue as a going concern within one year from the filing date of this report. The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The consolidated financial statements do not include any adjustments to reflect the possible future effects on the recoverability and classification of assets or the amounts and classifications of liabilities that may result should the Company be unable to continue as a going concern. |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 3. Summary of Significant Accounting Polices There have been no material changes in the Company’s significant accounting policies to those disclosed in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2022. Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such Securities and Exchange Commission (“SEC”) rules and regulations and accounting principles applicable for interim periods. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of the results for the periods presented have been included. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying condensed consolidated financial statements through the date of issuance. Operating results for the three and nine months ended September 30, 2023, are not necessarily indicative of the results that may be expected for the Company’s fiscal year ending December 31, 2023. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in ThermoGenesis Holdings’ Annual Report on Form 10-K for the year ended December 31, 2022. Principles of Consolidation The consolidated financial statements include the accounts of ThermoGenesis Holdings and its wholly-owned subsidiaries, ThermoGenesis Corp. and TotipotentRX Cell Therapy, Pvt. Ltd and ThermoGenesis Corp’s majority-owned subsidiary, CARTXpress Bio, Inc. (“CARTXpress Bio”). All significant intercompany accounts and transactions have been eliminated upon consolidation. The 20% ownership interest of CARTXpress Bio that is not owned by ThermoGenesis Holdings is accounted for as a non-controlling interest as the Company has an 80% ownership interest in CARTXpress Bio. Earnings or losses attributable to other stockholders of a consolidated affiliated company are classified separately as "non-controlling interest" in the Company's consolidated statements of operations. Net loss attributable to non-controlling interests reflects only its share of the after-tax earnings or losses of an affiliated company. The Company's condensed consolidated balance sheets reflect non-controlling interests within the equity section. Recently Adopted Accounting Standards On January 1, 2022, we adopted Accounting Standards Update (“ASU”) 2020-06 “ Debt-Debt with Conversion and Other Options ( Subtopic 470-20 ) and Derivatives and Hedging-Contracts in Entity s Own Equity ( Subtopic 815-40 ): Accounting for Convertible Instruments and Contracts in an Entity s Own Equity, In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses ( Topic 326 ). |
Note - 4 Related Party Transact
Note - 4 Related Party Transactions | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 4. Related Party Transactions Convertible Promissory Note and Revolving Credit Agreement In March 2017, ThermoGenesis Holdings entered into a Credit Agreement with Boyalife Group (USA), Inc. (the “Lender”), which is owned and controlled by the Company’s Chief Executive Officer and Chairman of our Board of Directors. The Credit Agreement, as amended, grants the Company the right to borrow up to $10,000,000 (the “Loan”) at any time prior to the maturity date. On March 6, 2023, the Company entered into an Amendment No. 2 (the “Amendment to the Note”) to its Second Amended and Restated Convertible Promissory Note with Boyalife Group Inc. (the “Note”), and an Amendment No. 3 to its First Amended and Restated Revolving Credit Agreement with Boyalife Group Inc. The Amendment to the Note amended and extended the maturity date of the Note from March 6, 2023 to December 31, 2023 (the “Maturity Date”) and added to the principal balance of the Note all accrued and unpaid interest at the time of the extension, resulting in an outstanding principal balance of $7,278,000 as of March 6, 2023. The Company performed a debt extinguishment vs. modification analysis on the Amendment to the Note and determined that the amendment would be considered an extinguishment, due to an increase of more than 10% to the value of the embedded conversion option. However, no gain or loss was recorded in the condensed consolidated statements of operations and comprehensive loss at the time of the Amendment as it was determined that the fair value of the Amendment to the Note and accrued interest was the same before and after the extension. On September 28, 2023, the Company received a conversion notice from the Lender to convert a total of $700,000 of the outstanding accrued interest. The conversion resulted in an issuance of 654,206 shares of the Company’s common stock at a conversion price of $1.07 per share. Immediately following the conversion, the outstanding principal balance of the Note was $7,278,000 and accrued but unpaid interest of $216,000. The Credit Agreement and the Note, as amended provide that the principal and all accrued and unpaid interest under the Loan will be due and payable on the Maturity Date, with payments of interest-only due on the last day of each calendar year. The Loan bears interest at 22% per annum, simple interest. The Company has five business days after the Lender demands payment to pay the interest due before the Loan is considered in default. The Loan can be prepaid in whole or in part by the Company at any time without penalty. The following summarizes the Note: Maturity Date Stated Interest Rate Conversion Price Face Value Debt Discount Carrying Value September 30, 2023 12/31/23 22 % $ 1.07 $ 7,278,000 $ (2,461,000 ) $ 4,817,000 December 31, 2022 12/31/23 22 % $ 6.30 $ 7,000,000 $ (1,223,000 ) $ 5,777,000 The Note includes a down-round anti-dilution provision that lowers its conversion price if the Company sells shares of common stock or issues convertible debt at a lower price per share. Through September 30, 2023, the down-round provision was triggered as noted below: In January 2023, when the conversion price of the Note was at $6.30 per share, the Company amended a previously outstanding convertible note, resulting in a triggering event lowering the conversion price of the Note to $2.87. The Company determined that it created an incremental value of $2,350,000 which was treated as a discount to the carrying amount of the Note and amortized over its remaining term. In March 2023, the Company sold shares of common stock and warrants at $2.65 per share, resulting in a down round triggering event lowering the conversion price of the Note to that value. The triggering event created an incremental value of $810,000 which was treated as a discount to the carrying amount of the Note and will be amortized over its remaining term. In July 2023, when the conversion price of the Note was at $2.65 per share, the Company amended a previously outstanding convertible note, resulting in a triggering event lowering the conversion price of the Note to $1.07. The Company determined that it created an incremental value of $3,660,000 which was treated as a discount to the carrying amount of the Note and amortized over its remaining term. A Black-Scholes pricing model was utilized to determine the change in the before and after incremental value of the conversion option at each triggering event, with the following inputs: January 2023 March 2023 July 2023 Conversion price before $ 6.30 $ 2.87 $ 2.65 Conversion price after $ 2.87 $ 2.65 $ 1.07 Term (years) 0.09 0.78 0.42 Volatility 167 % 168.9 % 156.8 % Dividend rate 0 % 0 % 0 % Risk free rate 4.46 % 4.20 % 4.22 % For the three and nine months ended September 30, 2023, the Company amortized $1,720,000 and $5,582,000 of debt discount related to triggering events, compared to $940,000 and $1,897,000 for the three and nine months ended September 30, 2022. In addition to the amortization, the Company also recorded interest expense of $409,000 and $1,203,000 for the three and nine months ended September 30, 2023, compared to $394,000 and $1,496,000 for the three and nine months ended September 30, 2022, respectively. The interest payable balance as of September 30, 2023 and December 31, 2022 was $225,000 and $1,492,000, respectively. Boyalife Genomics On March 24, 2022, the Company entered into a License and Technology Access Agreement with Boyalife Genomics Tianjin Ltd. (“Boyalife Genomics”), a China-based CDMO and an affiliate of ThermoGenesis’ Chairman and Chief Executive Officer, Chris Xu, Ph.D. The agreement provides for a U.S. license to certain existing and future know-how and other intellectual property relating to cell manufacturing and related processes. The Company plans to develop and operate the CDMO cell therapy manufacturing business through a division named TG Biosynthesis. Under the terms of the agreement, the Company transferred its remaining 8.64% interest in ImmuneCyte, Inc. to Boyalife Genomics and agreed to pay a running royalty of 7.5% of its annual net sales of products and services that are covered by one or more of Boyalife Genomics’ granted U.S. patents and a royalty of 5.0% of other products and services covered by other licensed intellectual property. In the three and nine months ended September 30, 2023, no sales were recorded under the license agreement and no royalty payments were made to Boyalife Genomics. |
Note 5 - Related Party Lease
Note 5 - Related Party Lease | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 5. Related Party Lease Z3 Investment On March 24, 2022, the Company entered into a five-year Operating Lease Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not yet paid. Operating lease assets represent our right to use an underlying asset and are based upon the operating lease liabilities adjusted for prepayments or accrued lease payments, initial direct costs, lease incentives, and impairment of operating lease assets. To determine the present value of lease payments not yet paid, we use the Company’s cost of capital based on existing debt instruments. We recognize the expense for this lease on a straight-line basis over the lease term. The following summarizes the Company’s operating lease: September 30, 2023 December 31, 2022 Right-of-use operating lease assets – related party, net $ 3,213,000 $ 3,550,000 Current lease liability (included in other current liabilities) 551,000 433,000 Non-current lease liability – related party 3,071,000 3,495,000 Weighted average remaining lease term 4.0 4.8 Discount rate 22 % 22 % Maturities of lease liabilities by year for our operating lease are as follows: 2023 (Remaining) $ 324,000 2024 1,307,000 2025 1,359,000 2026 1,428,000 Thereafter 1,133,000 Total lease payments $ 5,551,000 Less: imputed interest (1,930,000 ) Present value of operating lease liabilities $ 3,621,000 Statement of Cash Flows Cash paid for amounts included in the measurement of operating lease liabilities was $932,000 and $277,000 for the nine months ended September 30, 2023 and 2022, respectively. |
Note 6 - Convertible Promissory
Note 6 - Convertible Promissory Note | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 6. Convertible Promissory Note July 2019 Note On July 23, 2019, the Company entered into a private placement with Orbrex (USA) Co. Limited (“Orbrex”), pursuant to which the Company issued and sold to Orbrex an unsecured convertible promissory note, as amended, in the original principal amount of $1,000,000 (the “July 2019 Note”). The July 2019 Note bears interest at a rate of twenty-four percent (24%) per annum and is payable in arrears on January 31 of each year. In the nine months ended September 30, 2023, the Company has amended the July 2019 Note two times: ● On January 31, 2023, the Company entered into Amendment No. 3 to the July 2019 Note, which extended the maturity date from January 31, 2023 to July 31, 2023 and changed the fixed conversion price to $2.87 per share. The Company performed a debt extinguishment vs. modification analysis on this amendment to the July 2019 Note and determined that the extension would be considered an extinguishment, due to an increase of more than 10% to the value of the embedded conversion option. The Company determined that the fair value of the July 2019 Note after the amendment was $1,239,000 representing a $239,000 increase in its fair value. The increase will be recorded as a premium to the July 2019 Note and was amortized over the remaining term. ● On July 31, 2023, the Company entered into an Amendment No. 4 to the July 2019 Note, which extended the maturity date of the July 2019 Note from July 31, 2023 to January 31, 2024 and changed the fixed conversion price to $1.07 per share. The Company performed a debt extinguishment vs. modification analysis on this amendment to the July 2019 Note and determined that the extension would be considered an extinguishment, due to an increase of more than 10% to the value of the embedded conversion option. The Company determined that the fair value of the July 2019 Note after the amendment was $538,000 representing a $87,000 increase in its fair value. The increase will be recorded as a premium to the July 2019 Note and amortized over the remaining term. The following summarizes the July 2019 Note: Maturity Date Stated Interest Rate Conversion Price Face Debt Carrying Value September 30, 2023 1/31/2024 24% $ 1.07 $ 397,000 $ 59,000 $ 456,000 December 31, 2022 7/31/2023 24% $ 6.30 $ 1,000,000 $ (38,000 ) $ 962,000 The July 2019 Note includes a down-round anti-dilution provision that lowers its conversion price if the Company sells shares of common stock or issues convertible debt at a lower price per share. In 2023, the anti-dilution provision was triggered, as noted below: In March 2023, the Company sold shares of common stock at $2.65 per share, resulting in a down round triggering event lowering the conversion price of the Note to that value. The triggering event created an incremental value of $43,000 which was treated as a discount to the carrying amount of the July 2019 Note and was be amortized over its remaining term. A Black-Scholes pricing model was utilized to determine the change in the before and after incremental value of the conversion option at each triggering event, with the following inputs: March 2023 Conversion price before $ 2.87 Conversion price after $ 2.65 Term (years) 0.36 Volatility 182 % Dividend rate 0 % Risk free rate 4.20 % The Company recorded amortization expense for the July 2019 Note of ($35,000) and ($186,000) |
Note 7 - Stockholders' Equity
Note 7 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Share-Based Payment Arrangement [Text Block] | 7. Stockholders Equity Common Stock On March 15, 2023, the Company entered into a Securities Purchase Agreement (the “Purchase Agreement”) with an accredited investor (the “Investor”) pursuant to which the Company agreed to issue and sell to the Investor in a private placement (the “Offering”) (i) 125,000 shares of its common stock, $0.001 par value (the “Common Shares”), (ii) 946,429 pre-funded warrants to purchase Common Shares at a purchase price of $2.80, and (iii) common stock warrants to purchase up to an aggregate 1,071,429 Common Shares were issued (the “Underlying Shares”). The common stock warrants have an exercise price of $2.65 per share and are exercisable immediately upon issuance and expire five In connection with the Offering, the Company entered into a Warrant Amendment Agreement (the "Warrant Amendment Agreement”), dated March 15, 2023, with the Investor, whereby the Company agreed to amend existing warrants, held by the Investor, to purchase up to an aggregate of 158,731 shares of common stock that were previously issued in October 2022. These warrants had an exercise price of $6.30 per share and pursuant to the Warrant Amendment Agreement have been amended to reduce the exercise price to $2.65 per share effective upon the closing of the Offering. During the nine months ended September 30, 2023, 158,731 common warrants were exercised. The Company received approximately $421,000 from the exercises of the warrants. The warrant repricing resulted in an immediate and incremental increase of approximately $50,000 in the estimated fair value of the common warrants issued in the Company’s October 2022 public offering. The common warrants were valued on the date of the warrant repricing using the Black-Scholes option pricing model based on the following assumptions: March 2023 Conversion price before $ 6.30 Conversion price after $ 2.65 Term (years) 4.9 Volatility 123 % Dividend rate 0 % Risk free rate 4.20 % On February 3, 2022, the Company entered into Amendment No. 2 to the At the Market Offering Agreement (the “Offering Agreement”) with H.C. Wainwright & Co., LLC to further increase the maximum aggregate offering price of shares of Common Stock that may be offered and sold from time to time under the Offering Agreement from $15,280,000 to $19,555,000, which enables the Company to sell an additional $4,275,000 of shares after taking into account prior sales under the Offering Agreement (the “Additional Shares”). In March 2022, the total offering price was updated to $18,573,000 based on the shares that were currently available on Company’s existing Form S-3. The terms and conditions of the Offering Agreement otherwise remain unchanged. For the nine months ended September 30, 2022, the Company sold a total of 196,843 shares of common stock under the Offering Agreement for aggregate gross proceeds of $3,293,000 at an average selling price of $16.55 per share, resulting in net proceeds of approximately $3,037,000 after deducting commissions and other transaction costs of approximately $256,000. Net Loss Per Share Net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding plus the pre-funded warrants. For the purpose of calculating basic net loss per share, the additional shares of common stock that are issuable upon exercise of the pre-funded warrants have been included since the shares are issuable for a negligible consideration and have no vesting or other contingencies associated with them. All pre-funded warrants previously issued have been exercised and none are outstanding. The calculation of the basic and diluted earnings per share is the same for all periods presented, as the effect of the potential common stock equivalents noted below is anti-dilutive due to the Company’s net loss position for all periods presented. Anti-dilutive securities consisted of the following at September 30: 2023 2022 Common stock equivalents of convertible promissory notes and accrued interest 7,448,487 969,173 Warrants 1,238,869 14,518 Stock options 6,218 6,380 Total 8,693,574 990,071 Warrants A summary of warrant activity for the nine months ended September 30, 2023 is as follows: Number of Shares Weighted-Average Exercise Price Per Share Weighted- Average Remaining Contract Term Balance at December 31, 2022 340,689 $ 19.40 1.90 Warrants granted 1,071,429 Warrants expired (14,518 ) Pre-funded warrants granted 946,429 Pre-funded warrants exercised (946,429 ) Warrants exercised (158,731 ) Exercisable and Outstanding at September 30, 2023 1,238,869 $ 3.14 4.82 |
Note 8 - Revenue
Note 8 - Revenue | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 8. Revenue The following table presents net sales by geographic areas: Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 United States $ 1,500,000 $ 1,535,000 $ 4,589,000 $ 4,973,000 China 29,000 364,000 77,000 1,570,000 United Arab Emirates 259,000 -- 439,000 -- Other 406,000 216,000 1,934,000 1,264,000 Total $ 2,194,000 $ 2,115,000 $ 7,039,000 $ 7,807,000 The following tables summarize the revenues by product line and type: Three Months Ended September 30, 2023 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 1,486,000 $ 88,000 $ -- $ 1,574,000 BioArchive 131,000 322,000 -- 453,000 CAR-TXpress 42,000 34,000 71,000 147,000 Manual Disposables 8,000 -- -- 8,000 Other 6,000 -- 6,000 12,000 Total $ 1,673,000 $ 444,000 $ 77,000 $ 2,194,000 Nine Months Ended September 30, 2023 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 4,245,000 $ 184,000 $ -- $ 4,429,000 BioArchive 879,000 1,020,000 -- 1,899,000 CAR-TXpress 101,000 109,000 213,000 423,000 Manual Disposables 229,000 -- -- 229,000 Other 41,000 -- 18,000 59,000 Total $ 5,495,000 $ 1,313,000 $ 231,000 $ 7,039,000 Three Months Ended September 30, 2022 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 1,034,000 $ 75,000 $ -- $ 1,109,000 BioArchive 201,000 321,000 -- 522,000 CAR-TXpress 190,000 44,000 72,000 306,000 Manual Disposables 150,000 -- -- 150,000 Other 20,000 -- 8,000 28,000 Total $ 1,595,000 $ 440,000 $ 80,000 $ 2,115,000 Nine Months Ended September 30, 2022 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 4,668,000 $ 171,000 $ -- $ 4,839,000 BioArchive 694,000 924,000 -- 1,618,000 CAR-TXpress 551,000 146,000 214,000 911,000 Manual Disposables 357,000 -- -- 357,000 Other 59,000 -- 23,000 82,000 Total $ 6,329,000 $ 1,241,000 $ 237,000 $ 7,807,000 Contract Balances Generally, all sales are contract sales (with either an underlying contract or purchase order). The Company does not have any material contract assets. When invoicing occurs prior to revenue recognition, a contract liability is recorded (as deferred revenue on the consolidated balance sheet). Revenues that were included in the beginning balance of deferred revenue during the three and nine months ended September 30, 2023 were $144,000 and $663,000, respectively. Short-term deferred revenues were $818,000 and $782,000 at September 30, 2023 and December 31, 2022, respectively. Long-term deferred revenues were $680,000 and $911,000 at September 30, 2023 and December 31, 2022, respectively. Backlog of Remaining Customer Performance Obligations The following table represents revenue expected to be recognized in the future from the backlog of performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period: Remainder of 2023 2024 2025 2026 2027 and beyond Total Service revenue $ 319,000 $ 741,000 $ 252,000 $ -- $ -- $ 1,312,000 Device revenue (1) 21,000 692,000 -- -- -- 713,000 Exclusivity fee 71,000 286,000 286,000 190,000 -- 833,000 Other 3,000 13,000 13,000 13,000 97,000 139,000 Total $ 414,000 $ 1,732,000 $ 551,000 $ 203,000 $ 97,000 $ 2,997,000 (1) Represents the minimum purchase requirements under the distribution agreement the Company signed with its AXP distributor in China. |
Note 9 - Concentrations
Note 9 - Concentrations | 9 Months Ended |
Sep. 30, 2023 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 9. Concentrations The Company had certain customers whose individual revenue was material to the Company’s total revenue, or whose accounts receivable balances were material to the Company’s total accounts receivable balances. Those customers are listed as follows: Accounts Receivable September 30, 2023 December 31, 2022 Customer 1 -- 29% Customer 2 -- 27% Customer 3 -- 15% Revenues Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Customer 1 41% 36% 36% 36% Customer 2 1% 1% 1% 13% |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, certain information and footnote disclosures normally included in annual financial statements prepared in accordance with U.S. GAAP have been condensed or omitted pursuant to such Securities and Exchange Commission (“SEC”) rules and regulations and accounting principles applicable for interim periods. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair statement of the results for the periods presented have been included. Events subsequent to the balance sheet date have been evaluated for inclusion in the accompanying condensed consolidated financial statements through the date of issuance. Operating results for the three and nine months ended September 30, 2023, are not necessarily indicative of the results that may be expected for the Company’s fiscal year ending December 31, 2023. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and the notes thereto included in ThermoGenesis Holdings’ Annual Report on Form 10-K for the year ended December 31, 2022. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of ThermoGenesis Holdings and its wholly-owned subsidiaries, ThermoGenesis Corp. and TotipotentRX Cell Therapy, Pvt. Ltd and ThermoGenesis Corp’s majority-owned subsidiary, CARTXpress Bio, Inc. (“CARTXpress Bio”). All significant intercompany accounts and transactions have been eliminated upon consolidation. The 20% ownership interest of CARTXpress Bio that is not owned by ThermoGenesis Holdings is accounted for as a non-controlling interest as the Company has an 80% ownership interest in CARTXpress Bio. Earnings or losses attributable to other stockholders of a consolidated affiliated company are classified separately as "non-controlling interest" in the Company's consolidated statements of operations. Net loss attributable to non-controlling interests reflects only its share of the after-tax earnings or losses of an affiliated company. The Company's condensed consolidated balance sheets reflect non-controlling interests within the equity section. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards On January 1, 2022, we adopted Accounting Standards Update (“ASU”) 2020-06 “ Debt-Debt with Conversion and Other Options ( Subtopic 470-20 ) and Derivatives and Hedging-Contracts in Entity s Own Equity ( Subtopic 815-40 ): Accounting for Convertible Instruments and Contracts in an Entity s Own Equity, In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses ( Topic 326 ). |
Note - 4 Related Party Transa_2
Note - 4 Related Party Transactions (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Maturity Date Stated Interest Rate Conversion Price Face Value Debt Discount Carrying Value September 30, 2023 12/31/23 22 % $ 1.07 $ 7,278,000 $ (2,461,000 ) $ 4,817,000 December 31, 2022 12/31/23 22 % $ 6.30 $ 7,000,000 $ (1,223,000 ) $ 5,777,000 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | January 2023 March 2023 July 2023 Conversion price before $ 6.30 $ 2.87 $ 2.65 Conversion price after $ 2.87 $ 2.65 $ 1.07 Term (years) 0.09 0.78 0.42 Volatility 167 % 168.9 % 156.8 % Dividend rate 0 % 0 % 0 % Risk free rate 4.46 % 4.20 % 4.22 % |
Note 5 - Related Party Lease (T
Note 5 - Related Party Lease (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Lease, Cost [Table Text Block] | September 30, 2023 December 31, 2022 Right-of-use operating lease assets – related party, net $ 3,213,000 $ 3,550,000 Current lease liability (included in other current liabilities) 551,000 433,000 Non-current lease liability – related party 3,071,000 3,495,000 Weighted average remaining lease term 4.0 4.8 Discount rate 22 % 22 % |
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block] | 2023 (Remaining) $ 324,000 2024 1,307,000 2025 1,359,000 2026 1,428,000 Thereafter 1,133,000 Total lease payments $ 5,551,000 Less: imputed interest (1,930,000 ) Present value of operating lease liabilities $ 3,621,000 |
Note 6 - Convertible Promisso_2
Note 6 - Convertible Promissory Note (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Convertible Debt [Table Text Block] | Maturity Date Stated Interest Rate Conversion Price Face Debt Carrying Value September 30, 2023 1/31/2024 24% $ 1.07 $ 397,000 $ 59,000 $ 456,000 December 31, 2022 7/31/2023 24% $ 6.30 $ 1,000,000 $ (38,000 ) $ 962,000 |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | January 2023 March 2023 July 2023 Conversion price before $ 6.30 $ 2.87 $ 2.65 Conversion price after $ 2.87 $ 2.65 $ 1.07 Term (years) 0.09 0.78 0.42 Volatility 167 % 168.9 % 156.8 % Dividend rate 0 % 0 % 0 % Risk free rate 4.46 % 4.20 % 4.22 % |
Convertible Debt [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | March 2023 Conversion price before $ 2.87 Conversion price after $ 2.65 Term (years) 0.36 Volatility 182 % Dividend rate 0 % Risk free rate 4.20 % |
Note 7 - Stockholders' Equity (
Note 7 - Stockholders' Equity (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | January 2023 March 2023 July 2023 Conversion price before $ 6.30 $ 2.87 $ 2.65 Conversion price after $ 2.87 $ 2.65 $ 1.07 Term (years) 0.09 0.78 0.42 Volatility 167 % 168.9 % 156.8 % Dividend rate 0 % 0 % 0 % Risk free rate 4.46 % 4.20 % 4.22 % |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | 2023 2022 Common stock equivalents of convertible promissory notes and accrued interest 7,448,487 969,173 Warrants 1,238,869 14,518 Stock options 6,218 6,380 Total 8,693,574 990,071 |
Schedule of Warrant Activity [Table Text Block] | Number of Shares Weighted-Average Exercise Price Per Share Weighted- Average Remaining Contract Term Balance at December 31, 2022 340,689 $ 19.40 1.90 Warrants granted 1,071,429 Warrants expired (14,518 ) Pre-funded warrants granted 946,429 Pre-funded warrants exercised (946,429 ) Warrants exercised (158,731 ) Exercisable and Outstanding at September 30, 2023 1,238,869 $ 3.14 4.82 |
Warrants [Member] | |
Notes Tables | |
Fair Value Measurement Inputs and Valuation Techniques [Table Text Block] | March 2023 Conversion price before $ 6.30 Conversion price after $ 2.65 Term (years) 4.9 Volatility 123 % Dividend rate 0 % Risk free rate 4.20 % |
Note 8 - Revenue (Tables)
Note 8 - Revenue (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 United States $ 1,500,000 $ 1,535,000 $ 4,589,000 $ 4,973,000 China 29,000 364,000 77,000 1,570,000 United Arab Emirates 259,000 -- 439,000 -- Other 406,000 216,000 1,934,000 1,264,000 Total $ 2,194,000 $ 2,115,000 $ 7,039,000 $ 7,807,000 Three Months Ended September 30, 2023 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 1,486,000 $ 88,000 $ -- $ 1,574,000 BioArchive 131,000 322,000 -- 453,000 CAR-TXpress 42,000 34,000 71,000 147,000 Manual Disposables 8,000 -- -- 8,000 Other 6,000 -- 6,000 12,000 Total $ 1,673,000 $ 444,000 $ 77,000 $ 2,194,000 Nine Months Ended September 30, 2023 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 4,245,000 $ 184,000 $ -- $ 4,429,000 BioArchive 879,000 1,020,000 -- 1,899,000 CAR-TXpress 101,000 109,000 213,000 423,000 Manual Disposables 229,000 -- -- 229,000 Other 41,000 -- 18,000 59,000 Total $ 5,495,000 $ 1,313,000 $ 231,000 $ 7,039,000 Three Months Ended September 30, 2022 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 1,034,000 $ 75,000 $ -- $ 1,109,000 BioArchive 201,000 321,000 -- 522,000 CAR-TXpress 190,000 44,000 72,000 306,000 Manual Disposables 150,000 -- -- 150,000 Other 20,000 -- 8,000 28,000 Total $ 1,595,000 $ 440,000 $ 80,000 $ 2,115,000 Nine Months Ended September 30, 2022 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 4,668,000 $ 171,000 $ -- $ 4,839,000 BioArchive 694,000 924,000 -- 1,618,000 CAR-TXpress 551,000 146,000 214,000 911,000 Manual Disposables 357,000 -- -- 357,000 Other 59,000 -- 23,000 82,000 Total $ 6,329,000 $ 1,241,000 $ 237,000 $ 7,807,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | Remainder of 2023 2024 2025 2026 2027 and beyond Total Service revenue $ 319,000 $ 741,000 $ 252,000 $ -- $ -- $ 1,312,000 Device revenue (1) 21,000 692,000 -- -- -- 713,000 Exclusivity fee 71,000 286,000 286,000 190,000 -- 833,000 Other 3,000 13,000 13,000 13,000 97,000 139,000 Total $ 414,000 $ 1,732,000 $ 551,000 $ 203,000 $ 97,000 $ 2,997,000 |
Note 9 - Concentrations (Tables
Note 9 - Concentrations (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | September 30, 2023 December 31, 2022 Customer 1 -- 29% Customer 2 -- 27% Customer 3 -- 15% Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Customer 1 41% 36% 36% 36% Customer 2 1% 1% 1% 13% |
Note 1 - Description of Busin_2
Note 1 - Description of Business (Details Textual) | Dec. 22, 2022 |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 45 |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | Sep. 30, 2023 | Jun. 30, 2023 | Mar. 31, 2023 | Dec. 31, 2022 | Sep. 30, 2022 | Jun. 30, 2022 | Mar. 31, 2022 | Jan. 01, 2022 | Dec. 31, 2021 |
Equity, Including Portion Attributable to Noncontrolling Interest | $ 3,263,000 | $ 2,627,000 | $ 5,012,000 | $ 3,323,000 | $ 4,266,000 | $ 5,509,000 | $ 1,282,000 | $ 3,397,000 | |
Retained Earnings [Member] | |||||||||
Equity, Including Portion Attributable to Noncontrolling Interest | (277,154,000) | (273,539,000) | (271,279,000) | (266,193,000) | (262,761,000) | (259,521,000) | (256,833,000) | (264,662,000) | |
Additional Paid-in Capital [Member] | |||||||||
Equity, Including Portion Attributable to Noncontrolling Interest | $ 281,632,000 | $ 277,266,000 | $ 277,253,000 | $ 270,377,000 | $ 267,761,000 | $ 265,623,000 | $ 258,627,000 | 268,459,000 | |
Accounting Standards Update 2020-06 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | |||||||||
Equity, Including Portion Attributable to Noncontrolling Interest | (942,000) | ||||||||
Accounting Standards Update 2020-06 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Convertible Debt [Member] | |||||||||
Debt Instrument, Unamortized Discount | $ (942,000) | ||||||||
Accounting Standards Update 2020-06 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Retained Earnings [Member] | |||||||||
Equity, Including Portion Attributable to Noncontrolling Interest | 9,739,000 | 9,739,000 | |||||||
Accounting Standards Update 2020-06 [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Additional Paid-in Capital [Member] | |||||||||
Equity, Including Portion Attributable to Noncontrolling Interest | $ (10,681,000) | $ (10,681,000) | |||||||
CAR-TXpress [Member] | |||||||||
Subsidiary, Ownership Percentage, Noncontrolling Owner | 20% | ||||||||
Subsidiary, Ownership Percentage, Parent | 80% |
Note - 4 Related Party Transa_3
Note - 4 Related Party Transactions (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | ||||||||||
Sep. 28, 2023 | Mar. 24, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Jul. 31, 2023 | Mar. 31, 2023 | Mar. 06, 2023 | Jan. 31, 2023 | Dec. 31, 2022 | Mar. 31, 2017 | |
Amortization of Debt Discount (Premium) | $ 5,396,000 | $ 1,897,000 | ||||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 140,000 | 180,000 | ||||||||||
ImmuneCyte [Member] | ||||||||||||
Percent of Ownership Interest Transferred | 8.64% | |||||||||||
Royalty, Percent of Annual Net Sales, US Patents | 7.50% | |||||||||||
Royalty, Percent of Annual Net Sales, Other Licensed Intellectual Property | 5% | |||||||||||
Revolving Credit Facility [Member] | Boyalife Asset Holding II [Member] | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000,000 | |||||||||||
Long-Term Line of Credit | $ 7,278,000 | $ 7,278,000 | ||||||||||
Debt Conversion, Original Debt, Amount | $ 700,000 | |||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 654,206 | |||||||||||
Debt Instrument, Convertible, Conversion Price | $ 1.07 | $ 1.07 | $ 1.07 | $ 1.07 | $ 2.65 | $ 6.30 | $ 6.30 | |||||
Interest Payable | $ 216,000 | $ 225,000 | $ 225,000 | $ 1,492,000 | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 22% | 22% | 22% | |||||||||
Share Price (in dollars per share) | $ 2.65 | $ 2.87 | ||||||||||
Debt Instrument, Unamortized Discount | $ 2,461,000 | $ 2,461,000 | $ 2,350,000 | $ 1,223,000 | ||||||||
Amortization of Debt Discount (Premium) | 1,720,000 | $ 940,000 | 5,582,000 | 1,897,000 | ||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | $ 409,000 | $ 394,000 | $ 1,203,000 | $ 1,496,000 | ||||||||
Revolving Credit Facility [Member] | Boyalife Asset Holding II [Member] | Incremental Value Increase [Member] | ||||||||||||
Debt Instrument, Unamortized Discount | $ 3,660,000 | $ 810,000 |
Note 4 - Related Party Transact
Note 4 - Related Party Transactions - Schedule of Related Party Transactions (Details) - Revolving Credit Facility [Member] - Boyalife Asset Holding II [Member] - USD ($) | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2023 | Dec. 31, 2022 | Sep. 28, 2023 | Jul. 31, 2023 | Mar. 31, 2023 | Jan. 31, 2023 | |
Debt Instrument, Maturity Date | Dec. 31, 2023 | Dec. 31, 2023 | ||||
Stated interest rate | 22% | 22% | ||||
Conversion price (in dollars per share) | $ 1.07 | $ 6.30 | $ 1.07 | $ 1.07 | $ 2.65 | $ 6.30 |
Face value | $ 7,278,000 | $ 7,000,000 | ||||
Debt discount | (2,461,000) | (1,223,000) | $ (2,350,000) | |||
Carrying value | $ 4,817,000 | $ 5,777,000 |
Note 4 - Related Party Transa_2
Note 4 - Related Party Transactions - Fair Value Inputs (Details) | Jul. 01, 2023 | Mar. 31, 2023 | Jan. 01, 2023 |
Measurement Input, Conversion Price Before [Member] | |||
Conversion price before | 2.65 | 2.87 | 6.30 |
Measurement Input, Conversion Price [Member] | |||
Conversion price before | 1.07 | 2.65 | 2.87 |
Measurement Input, Expected Term [Member] | |||
Conversion price before | 0.42 | 0.78 | 0.09 |
Measurement Input, Price Volatility [Member] | |||
Conversion price before | 1.568 | 1.689 | 1.67 |
Measurement Input, Expected Dividend Rate [Member] | |||
Conversion price before | 0 | 0 | 0 |
Measurement Input, Risk Free Interest Rate [Member] | |||
Conversion price before | 0.0422 | 0.0420 | 0.0446 |
Note 5 - Related Party Lease (D
Note 5 - Related Party Lease (Details Textual) - Lease Agreement with Z3 Investment LLC [Member] | 9 Months Ended | ||
Mar. 24, 2022 USD ($) ft² | Sep. 30, 2023 USD ($) | Sep. 30, 2022 USD ($) | |
Lessee, Operating Lease, Term of Contract | 5 years | ||
Area of Real Estate Property | ft² | 35,000 | ||
Second Six Months, Rental Expense, Operating Lease | $ 104,000 | ||
Percent Increase, Annual Rental Expense | 4% | ||
Operating lease, Operating Expenses, Per Month | $ 10,000 | ||
Operating Lease, Payments | $ 932,000 | $ 277,000 |
Note 5 - Related Party Lease -
Note 5 - Related Party Lease - Lease Cost (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Right-of-use operating lease assets, net | $ 190,000 | $ 372,000 |
Operating lease obligations – long-term | 131,000 | |
Lease Agreement with Z3 Investment LLC [Member] | ||
Right-of-use operating lease assets, net | 3,213,000 | 3,550,000 |
Current lease liability (included in other current liabilities) | 551,000 | 433,000 |
Operating lease obligations – long-term | $ 3,071,000 | $ 3,495,000 |
Weighted average remaining lease term (Year) | 4 years | 4 years 9 months 18 days |
Discount rate | 22% | 22% |
Note 5 - Related Party Lease _2
Note 5 - Related Party Lease - Lease Liability Maturity (Details) | Sep. 30, 2023 USD ($) |
2023 (Remaining) | $ 324,000 |
2024 | 1,307,000 |
2025 | 1,359,000 |
2026 | 1,428,000 |
Thereafter | 1,133,000 |
Total lease payments | 5,551,000 |
Less: imputed interest | (1,930,000) |
Present value of operating lease liabilities | $ 3,621,000 |
Note 6 - Convertible Promisso_3
Note 6 - Convertible Promissory Note (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||||||
Jul. 31, 2023 | Jan. 31, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Mar. 31, 2023 | Dec. 31, 2022 | Jul. 23, 2019 | |
Amortization of Debt Discount (Premium) | $ 5,396,000 | $ 1,897,000 | |||||||
The July 2019 Note [Member] | Convertible Debt [Member] | |||||||||
Debt Instrument, Face Amount | $ 397,000 | $ 397,000 | $ 1,000,000 | $ 1,000,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 24% | 24% | 24% | 24% | |||||
Debt Instrument, Convertible, Conversion Price | $ 1.07 | $ 2.87 | $ 1.07 | $ 1.07 | $ 2.65 | $ 6.30 | |||
Long-Term Debt, Fair Value | $ 538,000 | $ 1,239,000 | |||||||
Liabilities, Fair Value Adjustment | $ 87,000 | $ 239,000 | |||||||
Debt Instrument, Unamortized Discount | $ 43,000 | ||||||||
Interest Expense, Debt | $ 24,000 | $ 60,000 | $ 90,000 | $ 180,000 | |||||
Antidilutive Triggering Event [Member] | Convertible Debt [Member] | |||||||||
Amortization of Debt Discount (Premium) | $ 35,000 | $ 190,000 |
Note 6 - Convertible Promisso_4
Note 6 - Convertible Promissory Note- Schedule of Convertible Debt (Details) - The July 2019 Note [Member] - Convertible Debt [Member] - USD ($) | 9 Months Ended | 12 Months Ended | ||||
Sep. 30, 2023 | Dec. 31, 2022 | Jul. 31, 2023 | Mar. 31, 2023 | Jan. 31, 2023 | Jul. 23, 2019 | |
Debt Instrument, Maturity Date | Jan. 31, 2024 | Jul. 31, 2023 | ||||
Stated interest rate | 24% | 24% | 24% | |||
Conversion price (in dollars per share) | $ 1.07 | $ 6.30 | $ 1.07 | $ 2.65 | $ 2.87 | |
Face value | $ 397,000 | $ 1,000,000 | $ 1,000,000 | |||
Debt Instrument, Unamortized Discount (Premium), Net | 59,000 | (38,000) | ||||
Carrying value | $ 456,000 | $ 962,000 |
Note 6 - Convertible Promisso_5
Note 6 - Convertible Promissory Note - Fair Value Inputs (Details) | Sep. 30, 2023 | Jul. 01, 2023 | Mar. 31, 2023 | Jan. 01, 2023 |
Measurement Input, Conversion Price Before [Member] | ||||
Conversion price before | 2.65 | 2.87 | 6.30 | |
Measurement Input, Conversion Price [Member] | ||||
Conversion price before | 1.07 | 2.65 | 2.87 | |
Measurement Input, Expected Term [Member] | ||||
Conversion price before | 0.42 | 0.78 | 0.09 | |
Measurement Input, Price Volatility [Member] | ||||
Conversion price before | 1.568 | 1.689 | 1.67 | |
Measurement Input, Expected Dividend Rate [Member] | ||||
Conversion price before | 0 | 0 | 0 | |
Measurement Input, Risk Free Interest Rate [Member] | ||||
Conversion price before | 0.0422 | 0.0420 | 0.0446 | |
Convertible Debt [Member] | Measurement Input, Conversion Price Before [Member] | ||||
Conversion price before | 2.87 | |||
Convertible Debt [Member] | Measurement Input, Conversion Price [Member] | ||||
Conversion price before | 2.65 | |||
Convertible Debt [Member] | Measurement Input, Expected Term [Member] | ||||
Conversion price before | 0.36 | |||
Convertible Debt [Member] | Measurement Input, Price Volatility [Member] | ||||
Conversion price before | 1.82 | |||
Convertible Debt [Member] | Measurement Input, Expected Dividend Rate [Member] | ||||
Conversion price before | 0 | |||
Convertible Debt [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||
Conversion price before | 0.0420 |
Note 7 - Stockholders' Equity_2
Note 7 - Stockholders' Equity (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |||||
Mar. 15, 2023 | Sep. 30, 2023 | Sep. 30, 2023 | Sep. 30, 2022 | Dec. 31, 2022 | Mar. 31, 2022 | Feb. 03, 2022 | |
Stock Issued During Period, Shares, New Issues | 125,000 | ||||||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | |||
Class of Warrant or Right, Outstanding | 1,238,869 | 1,238,869 | 340,689 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 3.14 | $ 3.14 | $ 19.40 | ||||
Warrants and Rights Outstanding, Term | 4 years 9 months 25 days | 4 years 9 months 25 days | 1 year 10 months 24 days | ||||
Proceeds from Issuance or Sale of Equity | $ 2,640,000,000,000 | ||||||
Payments of Stock Issuance Costs | $ 360,000,000 | ||||||
Warrants Exercised | 158,731 | ||||||
Proceeds from Warrant Exercises | $ 421,000 | ||||||
Proceeds from Issuance of Common Stock, Net | $ 2,640,000 | $ 3,037,000 | |||||
Warrant Amendment Agreement [Member] | |||||||
Stock Issued During Period, Shares, New Issues | 158,731 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 6.30 | $ 2.65 | $ 2.65 | ||||
Warrants Exercised | 158,731 | ||||||
Proceeds from Warrant Exercises | $ 421,000 | ||||||
At The Market Offering Agreement [Member] | |||||||
Stock Issued During Period, Shares, New Issues | 196,843 | ||||||
Payments of Stock Issuance Costs | $ 256,000 | ||||||
Maximum Offering Price for Issuance of Common Stock | $ 18,573,000 | ||||||
Additional Common Stock, Shares Authorized | $ 4,275,000 | ||||||
Proceeds from Issuance of Common Stock | $ 3,293,000 | ||||||
Shares Issued, Average Price Per Share | $ 16.55 | ||||||
Proceeds from Issuance of Common Stock, Net | $ 3,037,000 | ||||||
At The Market Offering Agreement [Member] | Minimum [Member] | |||||||
Maximum Offering Price for Issuance of Common Stock | 15,280,000 | ||||||
At The Market Offering Agreement [Member] | Maximum [Member] | |||||||
Maximum Offering Price for Issuance of Common Stock | $ 19,555,000 | ||||||
Pre-funded Warrant [Member] | |||||||
Class of Warrant or Right, Outstanding | 946,429 | ||||||
Share Price (in dollars per share) | $ 2.80 | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1,071,429 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 2.65 | ||||||
Warrants and Rights Outstanding, Term | 5 years 6 months | ||||||
Warrants Exercised | 946,429 | 946,429 | |||||
Warrants Issued in Connection with Underwritten Public Offering [Member] | |||||||
Fair Value Adjustment of Warrants | $ 50,000 |
Note 7 - Stockholders' Equity -
Note 7 - Stockholders' Equity - Fair Value Valuation (Details) | Sep. 30, 2023 |
Measurement Input, Conversion Price Before [Member] | |
Conversion price before | 6.30 |
Measurement Input, Conversion Price [Member] | |
Conversion price before | 2.65 |
Measurement Input, Expected Term [Member] | |
Conversion price before | 4.9 |
Measurement Input, Price Volatility [Member] | |
Conversion price before | 1.23 |
Measurement Input, Expected Dividend Rate [Member] | |
Conversion price before | 0 |
Measurement Input, Risk Free Interest Rate [Member] | |
Conversion price before | 0.0420 |
Note 7 - Stockholders' Equity_3
Note 7 - Stockholders' Equity - Antidilutive Securities (Details) - shares | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Antidilutive securities (in shares) | 8,693,574 | 990,071 |
Convertible Debt Securities [Member] | ||
Antidilutive securities (in shares) | 7,448,487 | 969,173 |
Warrant [Member] | ||
Antidilutive securities (in shares) | 1,238,869 | 14,518 |
Share-Based Payment Arrangement, Option [Member] | ||
Antidilutive securities (in shares) | 6,218 | 6,380 |
Note 7 - Stockholders' Equity_4
Note 7 - Stockholders' Equity - Warrant Activity (Details) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2023 | Mar. 15, 2023 | Dec. 31, 2022 | |
Balance, shares (in shares) | 340,689 | |||
Balance, exercise price (in dollars per share) | $ 19.40 | |||
Balance, term (Year) | 4 years 9 months 25 days | 4 years 9 months 25 days | 1 year 10 months 24 days | |
Warrants granted, shares (in shares) | 1,071,429 | |||
Warrants expired (in shares) | (14,518) | |||
Warrants exercised (in shares) | (158,731) | |||
Exercisable, shares (in shares) | 1,238,869 | 1,238,869 | ||
Balance, exercise price (in dollars per share) | $ 3.14 | $ 3.14 | ||
Pre-funded Warrant [Member] | ||||
Balance, term (Year) | 5 years 6 months | |||
Warrants granted, shares (in shares) | 946,429 | |||
Warrants exercised (in shares) | (946,429) | (946,429) |
Note 8 - Revenue 1 (Details Tex
Note 8 - Revenue 1 (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2023 | Dec. 31, 2022 | |
Contract with Customer, Liability, Revenue Recognized | $ 144,000 | $ 663,000 | |
Contract with Customer, Liability, Current | 818,000 | 818,000 | $ 782,000 |
Contract with Customer, Liability, Noncurrent | $ 680,000 | $ 680,000 | $ 911,000 |
Note 8 - Revenue 2 (Details Tex
Note 8 - Revenue 2 (Details Textual) | Sep. 30, 2023 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 6 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 6 months |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 6 months |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 6 months |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Product and Service, Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 6 months |
Product and Service, Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Product and Service, Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Product and Service, Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Product and Service, Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period (Year) | 1 year |
Note 8 - Revenue - Disaggregati
Note 8 - Revenue - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Net revenues | $ 2,194,000 | $ 2,115,000 | $ 7,039,000 | $ 7,807,000 |
Device [Member] | AXP [Member] | ||||
Net revenues | 1,574,000 | 1,109,000 | 4,429,000 | 4,839,000 |
Device [Member] | BioArchive [Member] | ||||
Net revenues | 453,000 | 522,000 | 1,899,000 | 1,618,000 |
Device [Member] | CAR-TXpress [Member] | ||||
Net revenues | 147,000 | 306,000 | 423,000 | 911,000 |
Device [Member] | Manual Disposables [Member] | ||||
Net revenues | 8,000 | 150,000 | 229,000 | 357,000 |
Device [Member] | Other Subsegments [Member] | ||||
Net revenues | 12,000 | 28,000 | 59,000 | 82,000 |
Device Revenue [Member] | ||||
Net revenues | 1,673,000 | 1,595,000 | 5,495,000 | 6,329,000 |
Device Revenue [Member] | Device [Member] | AXP [Member] | ||||
Net revenues | 1,486,000 | 1,034,000 | 4,245,000 | 4,668,000 |
Device Revenue [Member] | Device [Member] | BioArchive [Member] | ||||
Net revenues | 131,000 | 201,000 | 879,000 | 694,000 |
Device Revenue [Member] | Device [Member] | CAR-TXpress [Member] | ||||
Net revenues | 42,000 | 190,000 | 101,000 | 551,000 |
Device Revenue [Member] | Device [Member] | Manual Disposables [Member] | ||||
Net revenues | 8,000 | 150,000 | 229,000 | 357,000 |
Device Revenue [Member] | Device [Member] | Other Subsegments [Member] | ||||
Net revenues | 6,000 | 20,000 | 41,000 | 59,000 |
Service [Member] | ||||
Net revenues | 444,000 | 440,000 | 1,313,000 | 1,241,000 |
Service [Member] | Device [Member] | AXP [Member] | ||||
Net revenues | 88,000 | 75,000 | 184,000 | 171,000 |
Service [Member] | Device [Member] | BioArchive [Member] | ||||
Net revenues | 322,000 | 321,000 | 1,020,000 | 924,000 |
Service [Member] | Device [Member] | CAR-TXpress [Member] | ||||
Net revenues | 34,000 | 44,000 | 109,000 | 146,000 |
Other [Member] | ||||
Net revenues | 77,000 | 80,000 | 231,000 | 237,000 |
Other [Member] | Device [Member] | CAR-TXpress [Member] | ||||
Net revenues | 71,000 | 72,000 | 213,000 | 214,000 |
Other [Member] | Device [Member] | Other Subsegments [Member] | ||||
Net revenues | 6,000 | 8,000 | 18,000 | 23,000 |
UNITED STATES | ||||
Net revenues | 1,500,000 | 1,535,000 | 4,589,000 | 4,973,000 |
CHINA | ||||
Net revenues | 29,000 | 364,000 | 77,000 | 1,570,000 |
UNITED ARAB EMIRATES | ||||
Net revenues | 259,000 | 439,000 | ||
All Other Countries [Member] | ||||
Net revenues | $ 406,000 | $ 216,000 | $ 1,934,000 | $ 1,264,000 |
Note 8 - Revenue - Remaining Pe
Note 8 - Revenue - Remaining Performance Obligations (Details) | Sep. 30, 2023 USD ($) | |
Remaining | $ 2,997,000 | |
Service [Member] | ||
Remaining | 1,312,000 | |
Device Revenue [Member] | ||
Remaining | 713,000 | [1] |
Exclusivity Fee [Member] | ||
Remaining | 833,000 | |
Other [Member] | ||
Remaining | $ 139,000 | |
[1]Represents the minimum purchase requirements under the distribution agreement the Company signed with its AXP distributor in China. |
Note 8 - Revenue - Remaining _2
Note 8 - Revenue - Remaining Performance Obligations 2 (Details) | Sep. 30, 2023 USD ($) | |
Remaining | $ 2,997,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | ||
Remaining | 414,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Remaining | 1,732,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | ||
Remaining | 551,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | ||
Remaining | 203,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | ||
Remaining | 97,000 | |
Service [Member] | ||
Remaining | 1,312,000 | |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | ||
Remaining | 319,000 | |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Remaining | 741,000 | |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | ||
Remaining | 252,000 | |
Device Revenue [Member] | ||
Remaining | 713,000 | [1] |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | ||
Remaining | 21,000 | [1] |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Remaining | 692,000 | [1] |
Exclusivity Fee [Member] | ||
Remaining | 833,000 | |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | ||
Remaining | 71,000 | |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Remaining | 286,000 | |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | ||
Remaining | 286,000 | |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | ||
Remaining | 190,000 | |
Other [Member] | ||
Remaining | 139,000 | |
Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-10-01 | ||
Remaining | 3,000 | |
Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Remaining | 13,000 | |
Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | ||
Remaining | 13,000 | |
Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | ||
Remaining | 13,000 | |
Other [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2027-01-01 | ||
Remaining | $ 97,000 | |
[1]Represents the minimum purchase requirements under the distribution agreement the Company signed with its AXP distributor in China. |
Note 9 - Concentrations - Accou
Note 9 - Concentrations - Accounts Receivables and Revenues 2 (Details) - Customer Concentration Risk [Member] | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Revenue from Contract with Customer Benchmark [Member] | Customer 1 [Member] | ||||
Concentration | 41% | 36% | 36% | 36% |
Revenue from Contract with Customer Benchmark [Member] | Customer 2 [Member] | ||||
Concentration | 1% | 1% | 1% | 13% |
Accounts Receivable [Member] | Customer 1 [Member] | ||||
Concentration | 29% | |||
Accounts Receivable [Member] | Customer 2 [Member] | ||||
Concentration | 27% | |||
Accounts Receivable [Member] | Customer 3 [Member] | ||||
Concentration | 15% |