Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 12, 2021 | |
Document Information Line Items | ||
Entity Registrant Name | TRANS-LUX CORPORATION | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 13,446,276 | |
Amendment Flag | false | |
Entity Central Index Key | 0000099106 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Jun. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q2 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 1-2257 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 13-1394750 | |
Entity Address, Address Line One | 135 East 57th Street | |
Entity Address, Address Line Two | 14th Floor | |
Entity Address, City or Town | New York | |
Entity Address, State or Province | NY | |
Entity Address, Postal Zip Code | 10022 | |
City Area Code | 800 | |
Local Phone Number | 243-5544 | |
Entity Interactive Data Current | Yes | |
Title of 12(g) Security | Common Stock - $0.001 Par Value |
CONDENSED CONSOLIDATED BALANCE
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 43,000 | $ 43,000 |
Receivables, net | 1,823,000 | 1,382,000 |
Inventories | 1,140,000 | 1,542,000 |
Prepaids and other assets | 235,000 | 327,000 |
Total current assets | 3,241,000 | 3,294,000 |
Long-term assets: | ||
Rental equipment, net | 533,000 | 656,000 |
Property, plant and equipment, net | 2,069,000 | 2,200,000 |
Right of use assets | 713,000 | 858,000 |
Other assets | 47,000 | 47,000 |
Total long-term assets | 3,362,000 | 3,761,000 |
TOTAL ASSETS | 6,603,000 | 7,055,000 |
Current liabilities: | ||
Accounts payable | 3,389,000 | 1,640,000 |
Accrued liabilities | 4,216,000 | 4,555,000 |
Current portion of long-term debt | 2,954,000 | 2,546,000 |
Current lease liabilities | 305,000 | 302,000 |
Customer deposits | 60,000 | 524,000 |
Total current liabilities | 10,924,000 | 9,567,000 |
Long-term liabilities: | ||
Long-term debt, less current portion | 269,000 | |
Long-term lease liabilities | 441,000 | 591,000 |
Deferred pension liability and other | 4,015,000 | 3,677,000 |
Total long-term liabilities | 4,456,000 | 4,537,000 |
Total liabilities | 15,380,000 | 14,104,000 |
Stockholders' deficit: | ||
Common Stock - $0.001 par value - 30,000,000 shares authorized; shares issued: 13,474,116 in 2021 and 2020; shares outstanding: 13,446,276 in 2021 and 2020 | 13,000 | 13,000 |
Additional paid-in-capital | 41,330,000 | 41,330,000 |
Accumulated deficit | (39,803,000) | (38,007,000) |
Accumulated other comprehensive loss | (7,254,000) | (7,322,000) |
Treasury stock - at cost - 27,840 common shares in 2021 and 2020 | (3,063,000) | (3,063,000) |
Total stockholders' deficit | (8,777,000) | (7,049,000) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | 6,603,000 | 7,055,000 |
Convertible Preferred Stock [Member] | Series A Preferred Stock [Member] | ||
Stockholders' deficit: | ||
Preferred Stock Series A - $20 stated value - 416,500 shares authorized; shares issued and outstanding: 0 in 2021 and 2020 and Preferred Stock Series B - $200 stated value - 51,000 shares authorized; shares issued and outstanding: 0 in 2021 and 2020 | ||
Convertible Preferred Stock [Member] | Series B Preferred Stock [Member] | ||
Stockholders' deficit: | ||
Preferred Stock Series A - $20 stated value - 416,500 shares authorized; shares issued and outstanding: 0 in 2021 and 2020 and Preferred Stock Series B - $200 stated value - 51,000 shares authorized; shares issued and outstanding: 0 in 2021 and 2020 |
CONDENSED CONSOLIDATED BALANC_2
CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) (Parentheticals) - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
Common Stock, par value (in Dollars per share) | $ 0.001 | $ 0.001 |
Common Stock, shares authorized | 30,000,000 | 30,000,000 |
Common Stock, shares issued | 13,474,116 | 13,474,116 |
Common Stock, shares outstanding | 13,446,276 | 13,446,276 |
Treasury Stock, shares | 27,840 | 27,840 |
Convertible Preferred Stock [Member] | Series A Preferred Stock [Member] | ||
Preferred stock, par value (in Dollars per share) | $ 20 | $ 20 |
Preferred stock, shares authorized | 416,500 | 416,500 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
Convertible Preferred Stock [Member] | Series B Preferred Stock [Member] | ||
Preferred stock, par value (in Dollars per share) | $ 200 | $ 200 |
Preferred stock, shares authorized | 51,000 | 51,000 |
Preferred stock, shares issued | 0 | 0 |
Preferred stock, shares outstanding | 0 | 0 |
CONDENSED CONSOLIDATED STATEMEN
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Revenues: | ||||
Revenues | $ 2,887,000 | $ 2,049,000 | $ 5,473,000 | $ 3,962,000 |
Cost of revenues: | ||||
Cost of Revenues | 3,186,000 | 2,142,000 | 5,593,000 | 4,031,000 |
Gross loss | (299,000) | (93,000) | (120,000) | (69,000) |
General and administrative expenses | (744,000) | (1,037,000) | (1,543,000) | (2,267,000) |
Restructuring costs benefit | (10,000) | 29,000 | ||
Operating loss | (1,043,000) | (1,140,000) | (1,663,000) | (2,307,000) |
Interest expense, net | (157,000) | (155,000) | (260,000) | (263,000) |
(Loss) gain on foreign currency remeasurement | (36,000) | (89,000) | (72,000) | 113,000 |
Gain on extinguishment of debt | 77,000 | |||
Pension benefit | 67,000 | 37,000 | 134,000 | 73,000 |
Loss before income taxes | (1,169,000) | (1,347,000) | (1,784,000) | (2,384,000) |
Income tax expense | (6,000) | (6,000) | (12,000) | (12,000) |
Net loss | $ (1,175,000) | $ (1,353,000) | $ (1,796,000) | $ (2,396,000) |
Loss per share - basic and diluted (in Dollars per share) | $ (0.09) | $ (0.10) | $ (0.13) | $ (0.17) |
Digital Product Sales [Member] | ||||
Revenues: | ||||
Revenues | $ 2,396,000 | $ 1,518,000 | $ 4,489,000 | $ 2,852,000 |
Cost of revenues: | ||||
Cost of Revenues | 3,022,000 | 2,003,000 | 5,276,000 | 3,706,000 |
Digital Product Lease And Maintenance [Member] | ||||
Revenues: | ||||
Revenues | 491,000 | 531,000 | 984,000 | 1,110,000 |
Cost of revenues: | ||||
Cost of Revenues | $ 164,000 | $ 139,000 | $ 317,000 | $ 325,000 |
CONDENSED CONSOLIDATED STATEM_2
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Net loss | $ (1,175,000) | $ (1,353,000) | $ (1,796,000) | $ (2,396,000) |
Other comprehensive income (loss): | ||||
Unrealized foreign currency translation gain (loss) | 34,000 | 84,000 | 68,000 | (107,000) |
Total other comprehensive income (loss), net of tax | 34,000 | 84,000 | 68,000 | (107,000) |
Comprehensive loss | $ (1,141,000) | $ (1,269,000) | $ (1,728,000) | $ (2,503,000) |
CONDENSED CONSOLIDATED STATEM_3
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS` DEFICIT (unaudited) - USD ($) | Series A Preferred Stock [Member]Preferred Stock [Member] | Series B Preferred Stock [Member]Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock [Member] | Total |
Balance at Dec. 31, 2019 | $ 13,000 | $ 41,088,000 | $ (33,164,000) | $ (6,618,000) | $ (3,063,000) | $ (1,744,000) | ||
Balance (in Shares) at Dec. 31, 2019 | 13,474,116 | |||||||
Net loss | (2,396,000) | (2,396,000) | ||||||
Issuance of warrants | 94,000 | 94,000 | ||||||
Other comprehensive income, net of tax: | ||||||||
Unrealized foreign currency translation gain (loss) | (107,000) | (107,000) | ||||||
Balance at Jun. 30, 2020 | $ 13,000 | 41,182,000 | (35,560,000) | (6,725,000) | (3,063,000) | (4,153,000) | ||
Balance (in Shares) at Jun. 30, 2020 | 13,474,116 | |||||||
Balance at Mar. 31, 2020 | $ 13,000 | 41,088,000 | (34,207,000) | (6,809,000) | (3,063,000) | (2,978,000) | ||
Balance (in Shares) at Mar. 31, 2020 | 13,474,116 | |||||||
Net loss | (1,353,000) | (1,353,000) | ||||||
Issuance of warrants | 94,000 | 94,000 | ||||||
Other comprehensive income, net of tax: | ||||||||
Unrealized foreign currency translation gain (loss) | 84,000 | 84,000 | ||||||
Balance at Jun. 30, 2020 | $ 13,000 | 41,182,000 | (35,560,000) | (6,725,000) | (3,063,000) | (4,153,000) | ||
Balance (in Shares) at Jun. 30, 2020 | 13,474,116 | |||||||
Balance at Dec. 31, 2020 | $ 13,000 | 41,330,000 | (38,007,000) | (7,322,000) | (3,063,000) | (7,049,000) | ||
Balance (in Shares) at Dec. 31, 2020 | 13,474,116 | |||||||
Net loss | (1,796,000) | (1,796,000) | ||||||
Other comprehensive income, net of tax: | ||||||||
Unrealized foreign currency translation gain (loss) | 68,000 | 68,000 | ||||||
Balance at Jun. 30, 2021 | $ 13,000 | 41,330,000 | (39,803,000) | (7,254,000) | (3,063,000) | (8,777,000) | ||
Balance (in Shares) at Jun. 30, 2021 | 13,474,116 | |||||||
Balance at Mar. 31, 2021 | $ 13,000 | 41,330,000 | (38,628,000) | (7,288,000) | (3,063,000) | (7,636,000) | ||
Balance (in Shares) at Mar. 31, 2021 | 13,474,116 | |||||||
Net loss | (1,175,000) | (1,175,000) | ||||||
Other comprehensive income, net of tax: | ||||||||
Unrealized foreign currency translation gain (loss) | 34,000 | 34,000 | ||||||
Balance at Jun. 30, 2021 | $ 13,000 | $ 41,330,000 | $ (39,803,000) | $ (7,254,000) | $ (3,063,000) | $ (8,777,000) | ||
Balance (in Shares) at Jun. 30, 2021 | 13,474,116 |
CONDENSED CONSOLIDATED STATEM_4
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Cash flows from operating activities | ||
Net loss | $ (1,796,000) | $ (2,396,000) |
Adjustment to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 254,000 | 278,000 |
Amortization of right of use assets | 145,000 | 145,000 |
Amortization of deferred financing fees and debt discount | 63,000 | 42,000 |
Loss on disposal of assets | 5,000 | |
Gain on extinguishment of debt | (77,000) | |
Loss (gain) on foreign currency remeasurement | 72,000 | (113,000) |
Issuance of warrants | 94,000 | |
Bad debt expense | 45,000 | 46,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | (487,000) | 581,000 |
Inventories | 402,000 | 29,000 |
Prepaids and other assets | 92,000 | (141,000) |
Accounts payable | 1,749,000 | 174,000 |
Accrued liabilities | 131,000 | (96,000) |
Operating lease liabilities | (147,000) | (145,000) |
Customer deposits | (464,000) | 292,000 |
Deferred pension liability and other | (88,000) | (269,000) |
Net cash used in operating activities | (106,000) | (1,474,000) |
Cash flows from investing activities | ||
Equipment manufactured for rental | (16,000) | |
Purchases of property, plant and equipment | (178,000) | |
Net cash used in investing activities | (194,000) | |
Cash flows from financing activities | ||
Proceeds from long-term debt | 125,000 | 1,184,000 |
Payments of long-term debt | (20,000) | |
Net cash provided by financing activities | 105,000 | 1,184,000 |
Effect of exchange rate changes | 1,000 | (3,000) |
Net decrease in cash, cash equivalents and restricted cash | 0 | (487,000) |
Cash, cash equivalents and restricted cash at beginning of year | 43,000 | 1,385,000 |
Cash, cash equivalents and restricted cash at end of period | 43,000 | 898,000 |
Supplemental disclosure of cash flow information: | ||
Interest paid | 162,000 | 151,000 |
Income taxes paid | 9,000 | 15,000 |
Current assets | ||
Cash and cash equivalents | 43,000 | 248,000 |
Long-term assets | ||
Restricted cash | 650,000 | |
Cash, cash equivalents and restricted cash at end of period | $ 43,000 | $ 898,000 |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2021 | |
Basis of Presentation [Line Items] | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | Note 1 – Basis of Presentation As used in this report, “Trans-Lux,” the “Company,” “we,” “us,” and “our” refer to Trans-Lux Corporation and its subsidiaries. Financial information included herein is unaudited, however, such information reflects all adjustments (of a normal and recurring nature), which are, in the opinion of management, necessary for the fair presentation of the Condensed Consolidated Financial Statements for the interim periods. The results for the interim periods are not necessarily indicative of the results to be expected for the full year. The accompanying unaudited Condensed Consolidated Financial Statements have been prepared in accordance with rule 10-01 of Regulation S-X promulgated by the Securities and Exchange Commission (the “SEC”) and therefore do not include all information and footnote disclosures required under accounting principles generally accepted in the United States of America (“GAAP”). The Condensed Consolidated Financial Statements included herein should be read in conjunction with the Consolidated Financial Statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. The Condensed Consolidated Balance Sheet at December 31, 2020 is derived from the December 31, 2020 audited financial statements. The following new accounting pronouncements were adopted in 2021: In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-14, Compensation – Retirement Benefits – Defined Benefit Plans – General (Subtopic 715-20) The following new accounting pronouncements, and related impacts on adoption, are being evaluated by the Company: None. |
Liquidity and Going Concern
Liquidity and Going Concern | 6 Months Ended |
Jun. 30, 2021 | |
Liquidity and Going Concern [Line Items] | |
Substantial Doubt about Going Concern [Text Block] | Note 2 – Liquidity and Going Concern A fundamental principle of the preparation of financial statements in accordance with GAAP is the assumption that an entity will continue in existence as a going concern, which contemplates continuity of operations and the realization of assets and settlement of liabilities occurring in the ordinary course of business. This principle is applicable to all entities except for entities in liquidation or entities for which liquidation appears imminent. In accordance with this requirement, the Company has prepared its accompanying Consolidated Financial Statements assuming the Company will continue as a going concern. Due to the onset of the COVID-19 pandemic in 2020, the Company experienced a reduction in sales orders from customers. As a result, the Company incurred a net loss of $1.8 million in the six months ended June 30, 2021 and had a working capital deficiency of $7.7 million as of June 30, 2021. The Company is dependent on future operating performance in order to generate sufficient cash flows in order to continue to run its businesses. Future operating performance is dependent on general economic conditions, as well as financial, competitive and other factors beyond our control, including the impact of the current economic environment, the spread of major epidemics (including coronavirus) and other related uncertainties such as government-imposed travel restrictions, interruptions to supply chains and extended shut down of businesses. In order to more effectively manage its cash resources, the Company had, from time to time, increased the timetable of its payment of some of its payables, which delayed certain product deliveries from our vendors, which in turn delayed certain deliveries to our customers. Our independent registered public accounting firm has issued an opinion on our Consolidated Financial Statements included in the Annual Report on Form 10-K for the year ended December 31, 2020 that states that the Consolidated Financial Statements were prepared assuming we will continue as a going concern and further states that the continuing losses and uncertainty regarding our ability to make the required minimum funding contributions to the defined benefit pension plan and the past due principal and interest payments on our outstanding 8¼% Limited convertible senior subordinated notes due 2012 (the “Notes”) and 9½% Subordinated debentures due 2012 (the “Debentures”) raises substantial doubt about our ability to continue as a going concern. In addition, if we are unable to (i) obtain additional liquidity for working capital, (ii) make the required minimum funding contributions to the defined benefit pension plan, (iii) make the required principal and interest payments on the Notes and the Debentures and/or (iv) repay our obligations under our Loan Agreement (hereinafter defined) with MidCap Business Credit LLC (“MidCap”) which was subsequently assigned to Unilumin USA (“Unilumin”), there would be a significant adverse impact on our financial position and operating results. The Company continually evaluates the need and availability of long-term capital in order to meet its cash requirements and fund potential new opportunities. |
Revenue Recognition
Revenue Recognition | 6 Months Ended |
Jun. 30, 2021 | |
Revenue Recognition [Line Items] | |
Revenue from Contract with Customer [Text Block] | Note 3 – Revenue Recognition Revenue is recognized when a customer obtains control of promised goods or services in an amount that reflects the consideration which the entity expects to receive in exchange for those goods or services. To determine revenue recognition for arrangements that an entity determines are within the scope of this standard, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the entity satisfies a performance obligation. The Company only applies the five-step model to contracts when it is probable that the entity will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. At contract inception, once the contract is determined to be within the scope of this standard, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Sales tax, value added tax and other taxes collected on behalf of third parties are excluded from revenue. Contracts with customers may contain multiple performance obligations. For such arrangements, the transaction price is allocated to each performance obligation based on the estimated relative standalone selling prices of the promised products or services underlying each performance obligation. The Company determines standalone selling prices based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. When determining the transaction price of a contract, an adjustment is made if payment from a customer occurs either significantly before or significantly after performance, resulting in a significant financing component. Applying the practical expedient in paragraph 606-10-32-18, the Company does not assess whether a significant financing component exists if the period between when the Company performs its obligations under the contract and when the customer pays is one year or less. None of the Company’s contracts contained a significant financing component as of June 30, 2021. We recognize revenue in accordance with two different accounting standards: 1) Accounting Standards Codification (“ASC”) Topic 606 and 2) ASC Topic 842. Under Topic 606, revenue from contracts with customers is measured based on the consideration specified in the contract with the customer, and excludes any sales incentives and amounts collected on behalf of third parties. A performance obligation is a promise in a contract to transfer a distinct good or service to a customer, and is the unit of account under Topic 606. Our contracts with customers generally do not include multiple performance obligations. We recognize revenue when we satisfy a performance obligation by transferring control over a product or service to a customer. The amount of revenue recognized reflects the consideration we expect to be entitled to in exchange for such products or services. Disaggregated Revenues The following table represents a disaggregation of revenue from contracts with customers for the three and six months ended June 30, 2021 and 2020, along with the reportable segment for each category: Three months ended Six months ended In thousands June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Digital product sales: Catalog and small customized products $ 2,396 $ 1,518 $ 4,489 $ 2,852 Large customized products - - - - Subtotal 2,396 1,518 4,489 2,852 Digital product lease and maintenance: Operating leases 210 236 419 515 Maintenance agreements 281 295 565 595 Subtotal 491 531 984 1,110 Total $ 2,887 $ 2,049 $ 5,473 $ 3,962 Performance Obligations The Company has two primary revenue streams which are Digital product sales and Digital product lease and maintenance. Digital Product Sales The Company recognizes net revenue on digital product sales to its distribution partners and to end users related to digital display solutions and fixed digit scoreboards. For the Company’s catalog products, revenue is generally recognized when the customer obtains control of the Company’s product, which occurs at a point in time, and may be upon shipment or upon delivery based on the contractual shipping terms of a contract. For the Company’s customized products, revenue is either recognized at a point in time or over time depending on the size of the contract. For those customized product contracts that are smaller in size, revenue is generally recognized when the customer obtains control of the Company’s product, which occurs at a point in time, and may be upon shipment or upon delivery based on the contractual shipping terms of a contract. For those customized product contracts that are larger in size, revenue is recognized over time based on incurred costs as compared to projected costs using the input method, as this best reflects the Company’s progress in transferring control of the customized product to the customer. The Company may also contract with a customer to perform installation services of digital display products. Similar to the larger customized products, the Company recognizes the revenue associated with installation services using the input method, whereby the basis is the total contract costs incurred to date compared to the total expected costs to be incurred. Revenue on sales to distribution partners are recorded net of prompt-pay discounts, if offered, and other deductions. To the extent the transaction price includes variable consideration, the Company estimates the amount of variable consideration that should be included in the transaction price utilizing the most likely amount method to which the Company expects to be entitled. In the case of prompt-pay discounts, there are only two possible outcomes: either the customer pays on-time or does not. Variable consideration is included in the transaction price if, in the Company’s judgment, it is probable that a significant future reversal of cumulative revenue under the contract will not occur. Determination of whether to include estimated amounts in the transaction price are based largely on an assessment of the Company’s anticipated performance and all information (historical, current and forecasted) that is reasonably available. The Company believes that the estimates it has established are reasonable based upon current facts and circumstances. Applying different judgments to the same facts and circumstances could result in the estimated amounts to vary. The Company offers an assurance-type warranty that the digital display products will conform to the published specifications. Returns may only be made subject to this warranty and not for convenience. Digital Product Lease and Maintenance Digital product lease revenues represent revenues from leasing equipment that we own. We do not generally provide an option for the lessee to purchase the rented equipment at the end of the lease and do not generate material revenue from sales of equipment under such options. Our lease revenues do not include material amounts of variable payments. Digital product maintenance revenues represent revenues from maintenance agreements for equipment that we do not own. Lease and maintenance contracts generally run for periods of one month to 10 years. A contract entered into by the Company with a customer may contain both lease and maintenance services (either or both services may be agreed upon based on the individual customer contract). Maintenance services may consist of providing labor, parts and software maintenance as may be required to maintain the customer’s equipment in proper operating condition at the customer’s service location. The Company concluded the lease and maintenance services represent a series of distinct services and the most representative method for measuring progress towards satisfying the performance obligation of these services is the input method. Additionally, maintenance services require the Company to “stand ready” to provide support to the customer when and if needed. As there is no discernable pattern of efforts other than evenly over the lease and maintenance terms, the Company will recognize revenue straight-line over the lease and maintenance terms of service. The Company has an enforceable right to payment for performance completed to date, as evidenced by the requirement that the customer pay upfront for each month of services. Lease and maintenance service amounts billed ahead of revenue recognition are recorded in deferred revenue and are included in accrued liabilities in the Condensed Consolidated Financial Statements. Revenues from equipment lease and maintenance contracts are recognized during the term of the respective agreements. At June 30, 2021, the future minimum lease payments due to the Company under operating leases that expire at varying dates through 2028 for its rental equipment and maintenance contracts, assuming no renewals of existing leases or any new leases, aggregating $1,996,000 are as follows: $375,000 – remainder of 2021, $516,000 – 2022, $365,000 – 2023, $292,000 – 2024, $200,000 – 2025 and $248,000 thereafter. Contract Balances with Customers Contract assets primarily relate to rights to consideration for goods or services transferred to the customer when the right is conditional on something other than the passage of time. The contract assets are transferred to the receivables when the rights become unconditional. As of June 30, 2021 and December 31, 2020, the Company had no contract assets. The contract liabilities primarily relate to the advance consideration received from customers for contracts prior to the transfer of control to the customer and therefore revenue is recognized on completion of delivery. Contract liabilities are classified as deferred revenue by the Company and are included in customer deposits and accrued liabilities in the Condensed Consolidated Balance Sheets . The following table presents the balances in the Company’s receivables and contract liabilities with customers: In thousands June 30, 2021 December 31, 2020 Gross receivables $ 2,297 $ 2,042 Allowance for bad debts 474 660 Net receivables 1,823 1,382 Contract liabilities 481 618 During the three and six months ended June 30, 2021 and 2020, the Company recognized the following revenues as a result of changes in the contract asset and the contract liability balances in the respective periods: Three months ended Six months ended In thousands June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Revenue recognized in the period from: Amounts included in the contract liability at the $ 121 $ 28 $ 484 $ 82 Performance obligations satisfied in previous periods - - - - Transaction Price Allocated to Future Performance Obligations – alternative more qualitative presentation Remaining performance obligations represent the transaction price of contracts for which work has not been performed (or has been partially performed). The guidance provides certain practical expedients that limit this requirement and, therefore, the Company does not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which revenue is recognized at the amount to which the Company has the right to invoice for services performed. As of June 30, 2021, the aggregate amount of the transaction price allocated to remaining performance obligations for digital product sales was $2.6 million and digital product lease and maintenance was $2.0 million. The Company expects to recognize revenue on approximately 73%, 15% and 12% of the remaining performance obligations over the next 12 months, 13 to 36 months and 37 or more months, respectively. Costs to Obtain or Fulfill a Customer Contract The Company capitalizes incremental costs of obtaining customer contracts. Capitalized commissions are amortized based on the transfer of the products or services to which the assets relate. Applying the practical expedient in paragraph 340-40-25-4, the Company recognizes the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that the Company otherwise would have recognized is one year or less. These costs are included in General and administrative expenses. The Company accounts for shipping and handling activities related to contracts with customers as costs to fulfill the promise to transfer the associated products. When shipping and handling costs are incurred after a customer obtains control of the products, the Company also has elected to account for these as costs to fulfill the promise and not as a separate performance obligation. Shipping and handling costs associated with the distribution of finished products to customers are recorded in costs of goods sold and are recognized when the related finished product is shipped to the customer. |
Inventories
Inventories | 6 Months Ended |
Jun. 30, 2021 | |
Inventories [Line Items] | |
Inventory Disclosure [Text Block] | Note 4 – Inventories Inventories consist of the following: June 30 December 31 In thousands 2021 2020 Raw materials $ 864 $ 1,124 Work-in-progress 263 324 Finished goods 13 94 $ 1,140 $ 1,542 |
Rental Equipment, net
Rental Equipment, net | 6 Months Ended |
Jun. 30, 2021 | |
Rental Equipment, net [Line Items] | |
Rental Equipment [Text Block] | Note 5 – Rental Equipment, net Rental equipment consists of the following: June 30 December 31 In thousands 2021 2020 Rental equipment $ 3,714 $ 3,714 Less accumulated depreciation 3,181 3,058 Net rental equipment $ 533 $ 656 Depreciation expense for rental equipment for the six months ended June 30, 2021 and 2020 was $123,000 and $143,000, respectively. Depreciation expense for rental equipment for the three months ended June 30, 2021 and 2020 was $62,000 and $71,000, respectively. |
Property, Plant and Equipment,
Property, Plant and Equipment, net | 6 Months Ended |
Jun. 30, 2021 | |
Property, Plant and Equipment, net [Line Items] | |
Property, Plant and Equipment Disclosure [Text Block] | Note 6 – Property, Plant and Equipment, net Property, plant and equipment consists of the following: In thousands June 30 December 31 Machinery, fixtures and equipment $ 2,923 $ 2,923 Leaseholds and improvements 23 23 2,946 2,946 Less accumulated depreciation 877 746 Net property, plant and equipment $ 2,069 $ 2,200 Machinery, fixtures and equipment having a net book value of $2.1 million and $2.2 million at June 30, 2021 and December 31, 2020, respectively, were pledged as collateral under various financing agreements. Depreciation expense for property, plant and equipment for the six months ended June 30, 2021 and 2020 was $131,000 and $135,000, respectively. Depreciation expense for property, plant and equipment for the three months ended June 30, 2021 and 2020 was $66,000 and $59,000, respectively. |
Long-Term Debt
Long-Term Debt | 6 Months Ended |
Jun. 30, 2021 | |
Long-Term Debt [Line Items] | |
Long-term Debt [Text Block] | Note 7 – Long-Term Debt Long-term debt consists of the following: In thousands June 30 December 31 8¼% Limited convertible senior subordinated notes due 2012 $ 302 $ 352 9½% Subordinated debentures due 2012 220 220 Revolving credit line 737 612 Term loans – related party 1,000 1,000 Term loan 811 811 Total debt 3,070 2,995 Less deferred financing costs and debt discount 116 180 Net debt 2,954 2,815 Less portion due within one year 2,954 2,546 Net long-term debt $ - $ 269 On September 16, 2019, the Company entered into a loan agreement (the “Loan Agreement”) with MidCap. On June 3, 2020, March 23, 2021 and May 31, 2021, the Company and MidCap entered into modification agreements to the Loan Agreement. Subsequent to the June 30, 2021, MidCap assigned the loan to Unilumin. The Loan Agreement has a term of three years, unless earlier terminated by the parties in accordance with the termination provisions of the Loan Agreement. The Loan Agreement allows the Company to borrow up to an aggregate of $4.0 million at an interest rate of the 3-month LIBOR interest rate plus 4.75% (7.93% at June 30, 2021) on a revolving credit loan based on accounts receivable, inventory and equipment for general working capital purposes. As of June 30, 2021, the balance outstanding under the Loan Agreement was $737,000. The Loan Agreement also requires the payment of certain fees, including a facility fee, an unused credit line fee and a collateral monitoring charge. The Loan Agreement contains financial and other covenant requirements, including financial covenants that require the Company to attain certain EBITDA amounts for certain periods, including the six months ended June 30, 2021. The Company was not in compliance with this covenant. The Loan Agreement is secured by substantially all of the Company’s assets. On April 23, 2020, the Company entered into a loan note (the “Loan Note”) with Enterprise Bank and Trust (“Lender”) as lender under the CARES Act of the Small Business Administration of the United States of America (“SBA”), dated as of April 20, 2020. Under the Loan Note, the Company borrowed $810,800 from Lender under the Paycheck Protection Program (“PPP”) included in the SBA’s CARES Act, all of which is outstanding as of June 30, 2021. As of June 30, 2021, the Company had accrued $10,000 of interest related to the Loan Note, which is included in Accrued liabilities in the Consolidated Balance Sheets. The Loan Note proceeds are forgivable as long as the Company uses the loan proceeds for eligible purposes including payroll costs, including salaries, commissions, and similar compensation, group health care benefits, and paid leave; rent; utilities; and maintains its payroll levels. Certain employees were not retained by the Company, so the potential amount of loan forgiveness will be reduced. The unforgiven portion of the PPP loan is payable over two years at an interest rate of 1.00%, with a deferral of payments for the first six months. While the Company believes that its use of the loan proceeds will meet the conditions of forgiveness of the loan, we cannot assure you that we will not take actions that could cause the Company to be ineligible for forgiveness of the loan, in whole or in part. The Company has a $500,000 loan from Carlisle Investments Inc. (“Carlisle”) at a fixed interest rate of 12.00%, which matured on April 27, 2019 with a bullet payment of all principal due at such time. Interest is payable monthly. Carlisle had agreed to not demand payment on the loan through at least December 31, 2020, and has not made any such demands as of the date of this filing. As of June 30, 2021, the entire amount was outstanding and is included in current portion of long-term debt in the Consolidated Balance Sheets. As of June 30, 2021 and December 31, 2020, the Company had accrued $210,000 and $180,000, respectively, of interest related to this loan, which are included in accrued liabilities in the Condensed Consolidated Balance Sheets. Marco Elser, a former director of the Company, exercises voting and dispositive power as investment manager of Carlisle. The Company has a n additional $500,000 loan from Carlisle at a fixed interest rate of 12.00%, which matured on December 10, 2017 with a bullet payment of all principal due at such time (the “Second Carlisle Agreement”). Interest is payable monthly. Carlisle had agreed to not demand payment on the loan through at least December 31, 2020, and has not made any such demands as of the date of this filing. As of June 30, 2021, the entire amount was outstanding and is included in current portion of long-term debt Consolidated Balance Sheets. As of June 30, 2021 and December 31, 2020, the Company had accrued $210,000 and $180,000, respectively, of interest related to this loan, which are included in accrued liabilities in the Condensed Consolidated Balance Sheets. Under the Second Carlisle Agreement, the Company granted a security interest to Carlisle in accounts receivable, materials and intangibles relating to a certain purchase order for equipment issued in April 2017. As of June 30, 2021 and December 31, 2020, the Company had outstanding $302,000 and $352,000, respectively, of Notes. The Notes matured as of March 1, 2012 and are currently in default. As of June 30, 2021 and December 31, 2020, the Company had accrued $295,000 and $329,000, respectively, of interest related to the Notes, which is included in Accrued liabilities in the Consolidated Balance Sheets. The trustee, by notice to the Company, or the holders of 25% of the principal amount of the Notes outstanding, by notice to the Company and the trustee, may declare the outstanding principal plus interest due and payable immediately. On January 15, 2021, holders of $50,000 of the Notes accepted the Company’s offer to exchange each $1,000 of principal, forgiving any related interest, for $400 in cash, for an aggregate payment by the Company of $20,000. As a result of the transaction, the Company recorded a gain on the extinguishment of debt, net of expenses, of $77,000 in the six months ended June 30, 2021. As of June 30, 2021 and December 31, 2020, the Company had outstanding $220,000 of Debentures. The Debentures matured as of December 1, 2012 and are currently in default. As of June 30, 2021 and December 31, 2020, the Company had accrued $242,000 and $232,000, respectively, of interest related to the Debentures, which is included in Accrued liabilities in the Consolidated Balance Sheets. The trustee, by notice to the Company, or the holders of 25% of the principal amount of the Debentures outstanding, by notice to the Company and the trustee, may declare the outstanding principal plus interest due and payable immediately. |
Pension Plan
Pension Plan | 6 Months Ended |
Jun. 30, 2021 | |
Pension Plan [Line Items] | |
Retirement Benefits [Text Block] | Note 8 – Pension Plan As of December 31, 2003, the benefit service under the pension plan had been frozen and, accordingly, there is no service cost. As of April 30, 2009, the compensation increments had been frozen and, accordingly, no additional benefits are being accrued under the pension plan. The following table presents the components of net periodic pension cost for the three and six months ended June 30, 2021 and 2020: Three months ended June 30 Six months ended June 30 In thousands 2021 2020 2021 2020 Interest cost $ 64 $ 96 $ 127 $ 193 Expected return on plan assets (210) (204) (420) (407) Amortization of net actuarial loss 80 71 160 141 Net periodic pension (benefit) expense $ (66) $ (37) $ (133) $ (73) As of June 30, 2021 and December 31, 2020, the Company had recorded a current pension liability of $481,000 and $1.0 million, respectively, which is included in accrued liabilities in the Condensed Consolidated Balance Sheets, and a long-term pension liability of $4.0 million and $3.7 million, respectively, which is included in deferred pension liability and other in the Condensed Consolidated Balance Sheets. The minimum required contribution in 2021 is expected to be $537,000, of which the Company has contributed $56,000 as of June 30, 2021. |
Leases
Leases | 6 Months Ended |
Jun. 30, 2021 | |
Leases [Line Items] | |
Lessee, Operating Leases [Text Block] | Note 9 – Leases The Company leases administrative and manufacturing facilities through operating lease agreements. The Company has no finance leases as of June 30, 2021. Our leases include both lease (e.g., fixed payments including rent) and non-lease components (e.g., common area or other maintenance costs). The facility leases include one or more options to renew. The exercise of lease renewal options is typically at our sole discretion, therefore, the renewals to extend the lease terms are not included in our right of use (“ROU”) assets or lease liabilities as they are not reasonably certain of exercise. We regularly evaluate the renewal options and, when they are reasonably certain of exercise, we include the renewal period in our lease term. Operating leases result in the recognition of ROU assets and lease liabilities on the Condensed Consolidated Balance Sheets. ROU assets represent our right to use the leased asset for the lease term and lease liabilities represent our obligation to make lease payments. Operating lease ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. As most of our leases do not provide an implicit rate, we use our estimated incremental borrowing rate at the commencement date to determine the present value of lease payments. Most real estate leases include one or more options to renew, with renewal terms that can extend the lease term from 1 to 5 years or more. Lease expense is recognized on a straight-line basis over the lease term. Leases with an initial term of 12 months or less are not recorded on the Condensed Consolidated Balance Sheets. The primary leases we enter into with initial terms of 12 months or less are for equipment. Supplemental information regarding leases: June 30 2021 In thousands, unless otherwise noted Balance Sheet: ROU assets $ 713 Current lease liabilities – operating 305 Non-current lease liabilities - operating 441 Total lease liabilities 746 Weighted average remaining lease term (years) 2.2 Weighted average discount rate 8.9% Future minimum lease payments: Remainder of 2021 $ 186 2022 348 2023 295 Thereafter - Total 829 Less: Imputed interest 83 Total lease liabilities 746 Less: Current lease liabilities 305 Long-term lease liabilities $ 441 Supplemental cash flow information regarding leases: For the three months ended June 30, 2021 For the six months ended June 30, 2021 In thousands Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 92 $ 184 Non-cash activity: ROU assets obtained in exchange for lease liabilities - - Total operating lease expense and short-term lease expense was $190,000 and $3,000, respectively, for the six months ended June 30, 2021. Total operating lease expense and short-term lease expense was $96,000 and $1,000, respectively, for the three months ended June 30, 2021. Total operating lease expense and short-term lease expense was $195,000 and $36,000, respectively, for the six months ended June 30, 2020. Total operating lease expense and short-term lease expense was $94,000 and $18,000, respectively, for the three months ended June 30, 2020. |
Stockholders' Deficit and Loss
Stockholders' Deficit and Loss Per Share | 6 Months Ended |
Jun. 30, 2021 | |
Stockholders' Deficit and Loss Per Share [Line Items] | |
Earnings Per Share [Text Block] | Note 10 – Stockholders’ Deficit and Loss Per Share The following table presents the calculation of loss per share for the three and six months ended June 30, 2021 and 2020: Three months ended June 30 Six months ended June 30 In thousands, except per share data 2021 2020 2021 2020 Numerator: Net loss, as reported $ (1,175) $ (1,353) $ (1,796) $ (2,396) Denominator: Weighted average shares outstanding 13,643 13,696 13,670 13,696 Basic and diluted loss per share $ (0.09) $ (0.10) $ (0.13) $ (0.17) Basic loss per common share is computed by dividing net loss attributable to common shares by the weighted average number of common shares outstanding for the period. Diluted loss per common share is computed by dividing net loss attributable to common shares, by the weighted average number of common shares outstanding, adjusted for shares that would be assumed outstanding after warrants and stock options vested under the treasury stock method. As of June 30, 2021, the Company did not have any warrants to purchase shares of Common Stock outstanding which were included in the calculation of basic loss per share because their exercise price was less than the average stock price for the period. As of June 30, 2020, the Company had warrants to purchase 250,000 shares of Common Stock outstanding which were included in the calculation of basic loss per share because their exercise price was less than the average stock price for the period so their inclusion was dilutive. As of June 30, 2021 and 2020, the Company had other warrants to purchase 1.6 million and 500,000 shares, respectively, of Common Stock outstanding, which were excluded from the calculation of diluted loss per share because their exercise price was greater than the average stock price for the period and their inclusion would have been anti-dilutive. |
Contingencies
Contingencies | 6 Months Ended |
Jun. 30, 2021 | |
Contingencies [Line Items] | |
Commitments and Contingencies Disclosure [Text Block] | Note 11 – Contingencies The Company is subject to legal proceedings and claims which arise in the ordinary course of its business and/or which are covered by insurance. The Company has accrued reserves individually and in the aggregate for such legal proceedings. Should actual litigation results differ from the Company’s estimates, revisions to increase or decrease the accrued reserves may be required. There are no open matters that the Company deems material. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2021 | |
Related Party Transactions [Line Items] | |
Related Party Transactions Disclosure [Text Block] | Note 12 – Related Party Transactions The Company has the following related party transactions: As of June 30, 2021, Unilumin owns 52.0% of the Company’s Common Stock and beneficially owns 53.7% of the Company’s Common Stock. Nicholas J. Fazio, Yang Liu and Yantao Yu, each directors and/or officers of the Company, are each directors and/or officers of Unilumin. The Company purchased $596,000 and $189,000 of product from Unilumin in the six months ended June 30, 2021 and 2020, respectively, and $480,000 and $156,000 in the three months ended June 30, 2021 and 2020, respectively. The amount payable by the Company to Unilumin was $1.4 million and $231,000 as of June 30, 2021 and December 31, 2020, respectively. As disclosed in Note 7, the Loan Agreement with MidCap, including all right and responsibilities, was assigned to Unilumin subsequent to June 30, 2021. |
Business Segment Data
Business Segment Data | 6 Months Ended |
Jun. 30, 2021 | |
Business Segment Data [Line Items] | |
Segment Reporting Disclosure [Text Block] | Note 13 – Business Segment Data Operating segments are based on the Company’s business components about which separate financial information is available and are evaluated regularly by the Company’s chief operating decision makers in deciding how to allocate resources and in assessing performance of the business. The Company evaluates segment performance and allocates resources based upon operating income (loss). The Company’s operations are managed in two reportable business segments: Digital product sales and Digital product lease and maintenance. Both design and produce large-scale, multi-color, real-time digital displays. Both operating segments are conducted on a global basis, primarily through operations in the United States. The Company also has operations in Canada. The Digital product sales segment sells equipment and the Digital product lease and maintenance segment leases and maintains equipment. Corporate general and administrative items relate to costs that are not directly identifiable with a segment. There are no intersegment sales. Foreign revenues represent less than 10% of the Company’s revenues in the six months ended June 30, 2021 and 2020. The Company’s foreign operation does not manufacture its own equipment; the domestic operation provides the equipment that the foreign operation leases or sells. The foreign operation operates similarly to the domestic operation and has similar profit margins. Foreign assets are immaterial. Information about the Company’s operations in its two business segments for the three and six months ended June 30, 2021 and 2020 is as follows: Three months ended June 30 Six months ended June 30 In thousands 2021 2020 2021 2020 Revenues: Digital product sales $ 2,396 $ 1,518 $ 4,489 $ 2,852 Digital product lease and maintenance 491 531 984 1,110 Total revenues $ 2,887 $ 2,049 $ 5,473 $ 3,962 Operating (loss) income: Digital product sales $ (1,095) $ (912) $ (1,721) $ (1,894) Digital product lease and maintenance 323 366 642 728 Corporate general and administrative expenses (271) (594) (584) (1,141) Total operating loss (1,043) (1,140) (1,663) (2,307) Interest expense, net (157) (155) (260) (263) (Loss) gain on foreign currency remeasurement (36) (89) (72) 113 Gain on debt extinguishment - - 77 - Pension benefit 67 37 134 73 Loss before income taxes (1,169) (1,347) (1,784) (2,384) Income tax expense (6) (6) (12) (12) Net loss $ (1,175) $ (1,353) $ (1,796) $ (2,396) June 30 2021 December 31 2020 Assets Digital product sales $ 5,099 $ 5,231 Digital product lease and maintenance 1,461 1,781 Total identifiable assets 6,560 7,012 General corporate 43 43 Total assets $ 6,603 $ 7,055 |
Subsequent Events
Subsequent Events | 6 Months Ended |
Jun. 30, 2021 | |
Subsequent Events [Line Items] | |
Subsequent Events [Text Block] | Note 14 – Subsequent Events The Company has evaluated events and transactions subsequent to June 30, 2021 and through the date these Condensed Consolidated Financial Statements were included in this Form 10-Q and filed with the SEC. As disclosed in Note 7, the Loan Agreement with MidCap, including all right and responsibilities, was assigned to Unilumin subsequent to June 30, 2021. |
Revenue Recognition (Tables)
Revenue Recognition (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Revenue Recognition (Tables) [Line Items] | |
Disaggregation of Revenue [Table Text Block] | Three months ended Six months ended In thousands June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Digital product sales: Catalog and small customized products $ 2,396 $ 1,518 $ 4,489 $ 2,852 Large customized products - - - - Subtotal 2,396 1,518 4,489 2,852 Digital product lease and maintenance: Operating leases 210 236 419 515 Maintenance agreements 281 295 565 595 Subtotal 491 531 984 1,110 Total $ 2,887 $ 2,049 $ 5,473 $ 3,962 |
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block] | In thousands June 30, 2021 December 31, 2020 Gross receivables $ 2,297 $ 2,042 Allowance for bad debts 474 660 Net receivables 1,823 1,382 Contract liabilities 481 618 |
Schedule Of Changes In Contract Asset And Contract Liability [Table Text Block] | Three months ended Six months ended In thousands June 30, 2021 June 30, 2020 June 30, 2021 June 30, 2020 Revenue recognized in the period from: Amounts included in the contract liability at the $ 121 $ 28 $ 484 $ 82 Performance obligations satisfied in previous periods - - - - |
Inventories (Tables)
Inventories (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Inventories (Tables) [Line Items] | |
Schedule of Inventory, Current [Table Text Block] | June 30 December 31 In thousands 2021 2020 Raw materials $ 864 $ 1,124 Work-in-progress 263 324 Finished goods 13 94 $ 1,140 $ 1,542 |
Rental Equipment, net (Tables)
Rental Equipment, net (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Rental Equipment, net (Tables) [Line Items] | |
Rental Equipment [Table Text Block] | June 30 December 31 In thousands 2021 2020 Rental equipment $ 3,714 $ 3,714 Less accumulated depreciation 3,181 3,058 Net rental equipment $ 533 $ 656 |
Property, Plant and Equipment_2
Property, Plant and Equipment, net (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Property, Plant and Equipment, net (Tables) [Line Items] | |
Property, Plant and Equipment [Table Text Block] | In thousands June 30 December 31 Machinery, fixtures and equipment $ 2,923 $ 2,923 Leaseholds and improvements 23 23 2,946 2,946 Less accumulated depreciation 877 746 Net property, plant and equipment $ 2,069 $ 2,200 |
Long-Term Debt (Tables)
Long-Term Debt (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Long-Term Debt (Tables) [Line Items] | |
Schedule of Long-term Debt Instruments [Table Text Block] | In thousands June 30 December 31 8¼% Limited convertible senior subordinated notes due 2012 $ 302 $ 352 9½% Subordinated debentures due 2012 220 220 Revolving credit line 737 612 Term loans – related party 1,000 1,000 Term loan 811 811 Total debt 3,070 2,995 Less deferred financing costs and debt discount 116 180 Net debt 2,954 2,815 Less portion due within one year 2,954 2,546 Net long-term debt $ - $ 269 |
Pension Plan (Tables)
Pension Plan (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Pension Plan (Tables) [Line Items] | |
Schedule of Net Benefit Costs [Table Text Block] | Three months ended June 30 Six months ended June 30 In thousands 2021 2020 2021 2020 Interest cost $ 64 $ 96 $ 127 $ 193 Expected return on plan assets (210) (204) (420) (407) Amortization of net actuarial loss 80 71 160 141 Net periodic pension (benefit) expense $ (66) $ (37) $ (133) $ (73) |
Leases (Tables)
Leases (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Leases (Tables) [Line Items] | |
Schedule Of Future Minimum Rental Payment For Operating Leases [Table Text Block] | June 30 2021 In thousands, unless otherwise noted Balance Sheet: ROU assets $ 713 Current lease liabilities – operating 305 Non-current lease liabilities - operating 441 Total lease liabilities 746 Weighted average remaining lease term (years) 2.2 Weighted average discount rate 8.9% Future minimum lease payments: Remainder of 2021 $ 186 2022 348 2023 295 Thereafter - Total 829 Less: Imputed interest 83 Total lease liabilities 746 Less: Current lease liabilities 305 Long-term lease liabilities $ 441 |
Schedule Of Cash Flow Supplemental Disclosures Leases [Table Text Block] | For the three months ended June 30, 2021 For the six months ended June 30, 2021 In thousands Operating cash flow information: Cash paid for amounts included in the measurement of lease liabilities $ 92 $ 184 Non-cash activity: ROU assets obtained in exchange for lease liabilities - - |
Stockholders' Deficit and Los_2
Stockholders' Deficit and Loss Per Share (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Stockholders' Deficit and Loss Per Share (Tables) [Line Items] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three months ended June 30 Six months ended June 30 In thousands, except per share data 2021 2020 2021 2020 Numerator: Net loss, as reported $ (1,175) $ (1,353) $ (1,796) $ (2,396) Denominator: Weighted average shares outstanding 13,643 13,696 13,670 13,696 Basic and diluted loss per share $ (0.09) $ (0.10) $ (0.13) $ (0.17) |
Business Segment Data (Tables)
Business Segment Data (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Business Segment Data (Tables) [Line Items] | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three months ended June 30 Six months ended June 30 In thousands 2021 2020 2021 2020 Revenues: Digital product sales $ 2,396 $ 1,518 $ 4,489 $ 2,852 Digital product lease and maintenance 491 531 984 1,110 Total revenues $ 2,887 $ 2,049 $ 5,473 $ 3,962 Operating (loss) income: Digital product sales $ (1,095) $ (912) $ (1,721) $ (1,894) Digital product lease and maintenance 323 366 642 728 Corporate general and administrative expenses (271) (594) (584) (1,141) Total operating loss (1,043) (1,140) (1,663) (2,307) Interest expense, net (157) (155) (260) (263) (Loss) gain on foreign currency remeasurement (36) (89) (72) 113 Gain on debt extinguishment - - 77 - Pension benefit 67 37 134 73 Loss before income taxes (1,169) (1,347) (1,784) (2,384) Income tax expense (6) (6) (12) (12) Net loss $ (1,175) $ (1,353) $ (1,796) $ (2,396) June 30 2021 December 31 2020 Assets Digital product sales $ 5,099 $ 5,231 Digital product lease and maintenance 1,461 1,781 Total identifiable assets 6,560 7,012 General corporate 43 43 Total assets $ 6,603 $ 7,055 |
Liquidity and Going Concern (De
Liquidity and Going Concern (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Liquidity and Going Concern (Details) [Line Items] | ||||
Net Income (Loss) Attributable to Parent | $ (1,175,000) | $ (1,353,000) | $ (1,796,000) | $ (2,396,000) |
Working Capital Deficit | $ 7,700,000 | $ 7,700,000 |
Revenue Recognition (Details) -
Revenue Recognition (Details) - Performance Obligations | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Revenue Recognition (Details) - Performance Obligations [Line Items] | |
Segment Reporting Information, Description of Products and Services | The Company has two primary revenue streams which are Digital product sales and Digital product lease and maintenance |
Lessor, Operating Lease, Payments to be Received | $ 1,996,000 |
Lessor, Operating Lease, Payment to be Received, Remainder of Fiscal Year | 375,000 |
Lessor, Operating Lease, Payment to be Received, Year One | 516,000 |
Lessor, Operating Lease, Payment to be Received, Year Two | 365,000 |
Lessor, Operating Lease, Payment to be Received, Year Three | 292,000 |
Lessor, Operating Lease, Payment to be Received, Year Four | 200,000 |
Lessor, Operating Lease, Payment to be Received, Year Five | $ 248,000 |
Minimum [Member] | |
Revenue Recognition (Details) - Performance Obligations [Line Items] | |
Lease And Maintenance Term Of Contract | 1 month |
Maximum [Member] | |
Revenue Recognition (Details) - Performance Obligations [Line Items] | |
Lease And Maintenance Term Of Contract | 10 years |
Revenue Recognition (Details)_2
Revenue Recognition (Details) - Remaining Performance Obligations $ in Millions | Jun. 30, 2021USD ($) |
Digital Product Sales [Member] | |
Revenue Recognition (Details) - Remaining Performance Obligations [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 2.6 |
Digital Product Lease And Maintenance [Member] | |
Revenue Recognition (Details) - Remaining Performance Obligations [Line Items] | |
Revenue, Remaining Performance Obligation, Amount | $ 2 |
Revenue Recognition (Details)_3
Revenue Recognition (Details) - Remaining Performance Obligations, Expected Timing of recognition | Jun. 30, 2021 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2021-07-01 | |
Revenue Recognition (Details) - Remaining Performance Obligations, Expected Timing of recognition [Line Items] | |
Revenue, Remaining Performance Obligation, Percentage | 73.00% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 12 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | |
Revenue Recognition (Details) - Remaining Performance Obligations, Expected Timing of recognition [Line Items] | |
Revenue, Remaining Performance Obligation, Percentage | 15.00% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | Minimum [Member] | |
Revenue Recognition (Details) - Remaining Performance Obligations, Expected Timing of recognition [Line Items] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 13 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-07-01 | Maximum [Member] | |
Revenue Recognition (Details) - Remaining Performance Obligations, Expected Timing of recognition [Line Items] | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 36 months |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-07-01 | |
Revenue Recognition (Details) - Remaining Performance Obligations, Expected Timing of recognition [Line Items] | |
Revenue, Remaining Performance Obligation, Percentage | 12.00% |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Period | 37 months |
Revenue Recognition (Details)_4
Revenue Recognition (Details) - Disaggregation of revenue from contracts with customers - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Digital product sales: | ||||
Revenue from contracts with customers | $ 2,887,000 | $ 2,049,000 | $ 5,473,000 | $ 3,962,000 |
Digital Product Sales [Member] | ||||
Digital product sales: | ||||
Revenue from contracts with customers | 2,396,000 | 1,518,000 | 4,489,000 | 2,852,000 |
Digital Product Lease And Maintenance [Member] | ||||
Digital product sales: | ||||
Revenue from contracts with customers | 491,000 | 531,000 | 984,000 | 1,110,000 |
Catalog And Small Customized Products [Member] | Digital Product Sales [Member] | ||||
Digital product sales: | ||||
Revenue from contracts with customers | 2,396,000 | 1,518,000 | 4,489,000 | 2,852,000 |
Large Customized Products [Member] | Digital Product Sales [Member] | ||||
Digital product sales: | ||||
Revenue from contracts with customers | ||||
Operating Leases [Member] | Digital Product Lease And Maintenance [Member] | ||||
Digital product sales: | ||||
Revenue from contracts with customers | 210,000 | 236,000 | 419,000 | 515,000 |
Maintenance Agreements [Member] | Digital Product Lease And Maintenance [Member] | ||||
Digital product sales: | ||||
Revenue from contracts with customers | $ 281,000 | $ 295,000 | $ 565,000 | $ 595,000 |
Revenue Recognition (Details)_5
Revenue Recognition (Details) - Company`s receivables and contract liabilities with customers - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Revenue Recognition (Details) - Company`s receivables and contract liabilities with customers [Line Items] | ||
Gross receivables | $ 2,297,000 | $ 2,042,000 |
Allowance for bad debts | 474,000 | 660,000 |
Net receivables | 1,823,000 | 1,382,000 |
Contract liabilities | $ 481,000 | $ 618,000 |
Revenue Recognition (Details)_6
Revenue Recognition (Details) - Revenues as a result of changes in the contract asset and the contract liability - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Revenue Recognition (Details) - Revenues as a result of changes in the contract asset and the contract liability [Line Items] | ||||
Amounts included in the contract liability at the beginning of the period | $ 121,000 | $ 28,000 | $ 484,000 | $ 82,000 |
Performance obligations satisfied in previous periods (for example, due to changes in transaction price) |
Inventories (Details) - Invento
Inventories (Details) - Inventories - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Inventory [Line Items] | ||
Raw materials | $ 864,000 | $ 1,124,000 |
Work-in-progress | 263,000 | 324,000 |
Finished goods | 13,000 | 94,000 |
Total inventory | $ 1,140,000 | $ 1,542,000 |
Rental Equipment, net (Details)
Rental Equipment, net (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Rental Equipment [Member] | ||||
Rental Equipment, net (Details) [Line Items] | ||||
Depreciation | $ 62,000 | $ 71,000 | $ 123,000 | $ 143,000 |
Rental Equipment, net (Detail_2
Rental Equipment, net (Details) - Schedule Of Rental Equipment - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Rental Equipment, net (Details) - Schedule Of Rental Equipment [Line Items] | ||
Rental equipment | $ 3,714,000 | $ 3,714,000 |
Less accumulated depreciation | 3,181,000 | 3,058,000 |
Net rental equipment | $ 533,000 | $ 656,000 |
Property, Plant and Equipment_3
Property, Plant and Equipment, net (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Property, Plant and Equipment, net (Details) [Line Items] | |||||
Depreciation | $ 66,000 | $ 59,000 | $ 131,000 | $ 135,000 | |
Machinery Fixture And Equipment [Member] | |||||
Property, Plant and Equipment, net (Details) [Line Items] | |||||
Pledged Assets, Other, Not Separately Reported on Statement of Financial Position | $ 2,100,000 | $ 2,100,000 | $ 2,200,000 |
Property, Plant and Equipment_4
Property, Plant and Equipment, net (Details) - Property, plant and equipment - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, Gross | $ 2,946,000 | $ 2,946,000 |
Less accumulated depreciation | 877,000 | 746,000 |
Net property, plant and equipment | 2,069,000 | 2,200,000 |
Machinery Fixture And Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, Gross | 2,923,000 | 2,923,000 |
Leaseholds and Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property, plant and equipment, Gross | $ 23,000 | $ 23,000 |
Long-Term Debt (Details) - Loan
Long-Term Debt (Details) - Loan Agreement with Midcap - Loan Agreement With MidCap [Member] - USD ($) | Sep. 16, 2019 | Jun. 30, 2021 |
Long-Term Debt (Details) - Loan Agreement with Midcap [Line Items] | ||
Debt Instrument, Term | 3 years | |
Line of Credit Facility, Maximum Borrowing Capacity | $ 4,000,000 | |
Debt Instrument, Description of Variable Rate Basis | 3-month LIBOR interest rate plus 4.75% | |
Debt Instrument, Basis Spread on Variable Rate | 4.75% | |
Debt Instrument, Interest Rate, Effective Percentage | 7.93% | |
Long-term Line of Credit | $ 737,000 |
Long-Term Debt (Details) - Lo_2
Long-Term Debt (Details) - Loan Note - Loan Note [Member] - USD ($) | Apr. 23, 2020 | Jun. 30, 2021 |
Long-Term Debt (Details) - Loan Note [Line Items] | ||
Proceeds from Loans | $ 810,800 | |
Interest Payable, Current | $ 10,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 1.00% |
Long-Term Debt (Details) - Carl
Long-Term Debt (Details) - Carlisle - USD ($) | Apr. 27, 2019 | Dec. 10, 2017 | Jun. 30, 2021 | Dec. 31, 2020 |
First Carlisle Agreement [Member] | ||||
Long-Term Debt (Details) - Carlisle [Line Items] | ||||
Proceeds from Loans | $ 500,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||
Debt Instrument, Maturity Date | Apr. 27, 2019 | |||
Interest Payable, Current | $ 210,000 | $ 180,000 | ||
Second Carlisle Agreement [Member] | ||||
Long-Term Debt (Details) - Carlisle [Line Items] | ||||
Proceeds from Loans | $ 500,000 | |||
Debt Instrument, Interest Rate, Stated Percentage | 12.00% | |||
Debt Instrument, Maturity Date | Dec. 10, 2017 | |||
Interest Payable, Current | $ 210,000 | $ 180,000 |
Long-Term Debt (Details) - 2012
Long-Term Debt (Details) - 2012 Note - USD ($) | Jan. 15, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 |
Long-Term Debt (Details) - 2012 Note [Line Items] | ||||||
Long-term Debt | $ 2,954,000 | $ 2,954,000 | $ 2,815,000 | |||
Gain (Loss) on Extinguishment of Debt | 77,000 | |||||
8¼% Limited Convertible Senior Subordinated Notes Due 2012 [Member] | ||||||
Long-Term Debt (Details) - 2012 Note [Line Items] | ||||||
Long-term Debt | 302,000 | $ 302,000 | 352,000 | |||
Debt Instrument, Maturity Date | Mar. 1, 2012 | |||||
Interest Payable, Current | $ 295,000 | $ 295,000 | $ 329,000 | |||
Debt Instrument, Face Amount | $ 50,000 | |||||
Debt Exchange Each Principal Amount Of Original Debt Exchanged | 1,000 | |||||
Repayment Of Convertible Debt Principal | 400 | |||||
Debt Exchanged Aggregate Payment | $ 20,000 |
Long-Term Debt (Details) - 20_2
Long-Term Debt (Details) - 2012 Debenture - 9½% Subordinated Debentures Due 2012 [Member] - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | |
Long-Term Debt (Details) - 2012 Debenture [Line Items] | ||
Long-term Debt | $ 220,000 | $ 220,000 |
Debt Instrument, Maturity Date | Dec. 1, 2012 | |
Interest Payable, Current | $ 242,000 | $ 232,000 |
Long-Term Debt (Details) - Long
Long-Term Debt (Details) - Long-Term Debt - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2021 | Dec. 31, 2020 | |
Debt Instrument [Line Items] | ||
Long-term debt, including current portion | $ 2,954,000 | $ 2,815,000 |
Less portion due within one year | 2,954,000 | 2,546,000 |
Net long-term debt | 269,000 | |
Total debt | 3,070,000 | 2,995,000 |
Less deferred financing costs and debt discount | 116,000 | 180,000 |
8¼% Limited Convertible Senior Subordinated Notes Due 2012 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, including current portion | 302,000 | 352,000 |
9½% Subordinated Debentures Due 2012 [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, including current portion | 220,000 | 220,000 |
Revolving Credit Line [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, including current portion | 737,000 | 612,000 |
Related Party Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, including current portion | 1,000,000 | 1,000,000 |
Term Loan [Member] | ||
Debt Instrument [Line Items] | ||
Long-term debt, including current portion | $ 811,000 | $ 811,000 |
Pension Plan (Details)
Pension Plan (Details) - USD ($) | 6 Months Ended | |
Jun. 30, 2021 | Dec. 31, 2020 | |
Pension Plan (Details) [Line Items] | ||
Liability, Defined Benefit Pension Plan, Current | $ 481,000 | $ 1,000,000 |
Liability, Defined Benefit Pension Plan, Noncurrent | 4,000,000 | $ 3,700,000 |
Defined Benefit Plan, Expected Future Employer Contributions, Current Fiscal Year | 537,000 | |
Defined Benefit Plan, Plan Assets, Contributions by Employer | $ 56,000 |
Pension Plan (Details) - Compon
Pension Plan (Details) - Components of net periodic pension cost - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Pension Plan (Details) - Components of net periodic pension cost [Line Items] | ||||
Interest cost | $ 64,000 | $ 96,000 | $ 127,000 | $ 193,000 |
Expected return on plan assets | (210,000) | (204,000) | (420,000) | (407,000) |
Amortization of net actuarial loss | 80,000 | 71,000 | 160,000 | 141,000 |
Net periodic pension (benefit) expense | $ (66,000) | $ (37,000) | $ (133,000) | $ (73,000) |
Leases (Details)
Leases (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Leases (Details) [Line Items] | ||||
Operating Lease, Expense | $ 96,000 | $ 94,000 | $ 190,000 | $ 195,000 |
Short-term Lease Payments | $ 1,000 | $ 18,000 | $ 3,000 | $ 36,000 |
Minimum [Member] | ||||
Leases (Details) [Line Items] | ||||
Lessee, Operating Lease, Renewal Term | 1 year | 1 year | ||
Maximum [Member] | ||||
Leases (Details) [Line Items] | ||||
Lessee, Operating Lease, Renewal Term | 5 years | 5 years |
Leases (Details) - Supplemental
Leases (Details) - Supplemental information regarding leases - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Balance Sheet: | ||
ROU assets | $ 713,000 | $ 858,000 |
Current lease liabilities – operating | 305,000 | 302,000 |
Non-current lease liabilities - operating | 441,000 | 591,000 |
Total lease liabilities | $ 746,000 | |
Weighted average remaining lease term (years) | 2 years 2 months 12 days | |
Weighted average discount rate | 8.90% | |
Future minimum lease payments: | ||
Remainder of 2021 | $ 186,000 | |
2022 | 348,000 | |
2023 | 295,000 | |
Thereafter | ||
Total | 829,000 | |
Less: Imputed interest | 83,000 | |
Total lease liabilities | 746,000 | |
Less: Current lease liabilities | 305,000 | 302,000 |
Long-term lease liabilities | $ 441,000 | $ 591,000 |
Leases (Details) - Supplement_2
Leases (Details) - Supplemental cash flow information regarding leases - USD ($) | 3 Months Ended | 6 Months Ended |
Jun. 30, 2021 | Jun. 30, 2021 | |
Operating cash flow information: | ||
Cash paid for amounts included in the measurement of lease liabilities | $ 92,000 | $ 184,000 |
Non-cash activity: | ||
ROU assets obtained in exchange for lease liabilities |
Stockholders' Deficit and Los_3
Stockholders' Deficit and Loss Per Share (Details) - Warrant [Member] - shares | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Stockholders' Deficit and Loss Per Share (Details) [Line Items] | ||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 250,000 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,600,000 | 500,000 |
Stockholders' Deficit and Los_4
Stockholders' Deficit and Loss Per Share (Details) - Calculation of loss per share - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Numerator: | ||||
Net loss, as reported | $ (1,175,000) | $ (1,353,000) | $ (1,796,000) | $ (2,396,000) |
Denominator: | ||||
Weighted average shares outstanding | 13,643,000 | 13,696,000 | 13,670,000 | 13,696,000 |
Basic and diluted loss per share | $ (0.09) | $ (0.10) | $ (0.13) | $ (0.17) |
Related Party Transactions (Det
Related Party Transactions (Details) - Unilumin [Member] - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Related Party Transactions (Details) [Line Items] | |||||
Equity Method Investment, Ownership Percentage | 52.00% | 52.00% | |||
Related Party Transaction, Purchases from Related Party | $ 480,000 | $ 156,000 | $ 596,000 | $ 189,000 | |
Accounts Payable, Related Parties | $ 1,400,000 | $ 1,400,000 | $ 231,000 | ||
Beneficial Owner [Member] | |||||
Related Party Transactions (Details) [Line Items] | |||||
Equity Method Investment, Ownership Percentage | 53.70% | 53.70% |
Business Segment Data (Details)
Business Segment Data (Details) | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Business Segment Data (Details) [Line Items] | ||
Number of Reportable Segments | 2 | |
Customer Concentration Risk [Member] | Foreign [Member] | Revenue Benchmark [Member] | ||
Business Segment Data (Details) [Line Items] | ||
Concentration Risk, Percentage | 10.00% | 10.00% |
Business Segment Data (Detail_2
Business Segment Data (Details) - Business Segment Data - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Revenues: | |||||
Revenues | $ 2,887,000 | $ 2,049,000 | $ 5,473,000 | $ 3,962,000 | |
Operating (loss) income: | |||||
Operating income (loss) | (1,043,000) | (1,140,000) | (1,663,000) | (2,307,000) | |
Interest expense, net | (157,000) | (155,000) | (260,000) | (263,000) | |
(Loss) gain on foreign currency remeasurement | (36,000) | (89,000) | (72,000) | 113,000 | |
Gain on debt extinguishment | 77,000 | ||||
Pension benefit | 67,000 | 37,000 | 134,000 | 73,000 | |
Loss before income taxes | (1,169,000) | (1,347,000) | (1,784,000) | (2,384,000) | |
Income tax expense | (6,000) | (6,000) | (12,000) | (12,000) | |
Net loss | (1,175,000) | (1,353,000) | (1,796,000) | (2,396,000) | |
Assets | |||||
Assets | 6,603,000 | 6,603,000 | $ 7,055,000 | ||
Operating Segments [Member] | |||||
Assets | |||||
Assets | 6,560,000 | 6,560,000 | 7,012,000 | ||
Corporate, Non-Segment [Member] | |||||
Operating (loss) income: | |||||
Operating income (loss) | (271,000) | (594,000) | (584,000) | (1,141,000) | |
Assets | |||||
Assets | 43,000 | 43,000 | 43,000 | ||
Digital Product Sales [Member] | |||||
Revenues: | |||||
Revenues | 2,396,000 | 1,518,000 | 4,489,000 | 2,852,000 | |
Digital Product Sales [Member] | Operating Segments [Member] | |||||
Revenues: | |||||
Revenues | 2,396,000 | 1,518,000 | 4,489,000 | 2,852,000 | |
Operating (loss) income: | |||||
Operating income (loss) | (1,095,000) | (912,000) | (1,721,000) | (1,894,000) | |
Assets | |||||
Assets | 5,099,000 | 5,099,000 | 5,231,000 | ||
Digital Product Lease And Maintenance [Member] | |||||
Revenues: | |||||
Revenues | 491,000 | 531,000 | 984,000 | 1,110,000 | |
Digital Product Lease And Maintenance [Member] | Operating Segments [Member] | |||||
Revenues: | |||||
Revenues | 491,000 | 531,000 | 984,000 | 1,110,000 | |
Operating (loss) income: | |||||
Operating income (loss) | 323,000 | $ 366,000 | 642,000 | $ 728,000 | |
Assets | |||||
Assets | $ 1,461,000 | $ 1,461,000 | $ 1,781,000 |