Cover
| Cover - shares | 3 Months Ended | |
| Mar. 31, 2023 | May 10, 2023 | |
| Cover [Abstract] | ||
| Document Type | 10-Q | |
| Amendment Flag | false | |
| Document Quarterly Report | true | |
| Document Transition Report | false | |
| Document Period End Date | Mar. 31, 2023 | |
| Document Fiscal Period Focus | Q1 | |
| Document Fiscal Year Focus | 2023 | |
| Current Fiscal Year End Date | --12-31 | |
| Entity File Number | 000-23115 | |
| Entity Registrant Name | YUNHONG CTI LTD. | |
| Entity Central Index Key | 0001042187 | |
| Entity Tax Identification Number | 36-2848943 | |
| Entity Incorporation, State or Country Code | IL | |
| Entity Address, Address Line One | 22160 N. Pepper Road | |
| Entity Address, City or Town | Barrington | |
| Entity Address, State or Province | IL | |
| Entity Address, Postal Zip Code | 60010 | |
| City Area Code | (847) | |
| Local Phone Number | 382-1000 | |
| Title of 12(b) Security | Common Stock, no par value per share | |
| Trading Symbol | CTIB | |
| 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 | 19,971,755 |
Condensed Consolidated Balance
| Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
| Current assets: | ||
| Cash and cash equivalents | $ 130,000 | $ 146,000 |
| Accounts receivable, net | 3,344,000 | 1,618,000 |
| Inventories | 7,944,000 | 8,325,000 |
| Prepaid expenses | 489,000 | 389,000 |
| Total current assets | 11,907,000 | 10,478,000 |
| Property, plant and equipment: | ||
| Machinery and equipment | 17,723,000 | 17,723,000 |
| Office furniture and equipment | 2,084,000 | 2,084,000 |
| Intellectual property | 783,000 | 783,000 |
| Leasehold improvements | 39,000 | 39,000 |
| Fixtures and equipment at customer locations | 519,000 | 519,000 |
| Projects under construction | 164,000 | 108,000 |
| Property, plant and equipment, gross | 21,312,000 | 21,256,000 |
| Less : accumulated depreciation and amortization | (20,414,000) | (20,334,000) |
| Total property, plant and equipment, net | 898,000 | 922,000 |
| Other assets: | ||
| Operating lease right-of-use | 3,757,000 | 3,882,000 |
| Total other assets | 3,757,000 | 3,882,000 |
| TOTAL ASSETS | 16,562,000 | 15,282,000 |
| Current liabilities: | ||
| Trade payables | 1,278,000 | 1,313,000 |
| Line of credit | 4,284,000 | 2,878,000 |
| Notes payable | 540,000 | 289,000 |
| Operating Lease Liabilities | 518,000 | 518,000 |
| Accrued liabilities | 1,382,000 | 2,480,000 |
| Total current liabilities | 9,288,000 | 7,478,000 |
| Long-term liabilities: | ||
| Notes payable | 427,000 | |
| Operating Lease Liabilities | 3,239,000 | 3,364,000 |
| Total long-term liabilities | 3,239,000 | 5,058,000 |
| TOTAL LIABILITIES | 12,527,000 | 12,536,000 |
| Shareholders’ Equity: | ||
| Series B Preferred Stock — no par value, 170,000 shares authorized, none and 170,000 issued and outstanding at March 31, 2023 and December 31, 2022, respectively | 1,851,000 | |
| Common Stock – no par value, 50,000,000 shares authorized, 20,015,413 and 16,102,749 shares issued and 19,971,755 and 16,059,991 shares outstanding at March 31, 2023 and December 31, 2022, respectively | 21,283,000 | 21,283,000 |
| Paid-in-capital | 6,637,000 | 3,895,000 |
| Accumulated deficit | (23,724,000) | (24,122,000) |
| Less: Treasury stock, 43,658 shares | (161,000) | (161,000) |
| Total Shareholders’ Equity | 4,035,000 | 2,746,000 |
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | 16,562,000 | 15,282,000 |
| Related Party [Member] | ||
| Current liabilities: | ||
| Notes payable | 1,286,000 | |
| Long-term liabilities: | ||
| Notes payable | $ 1,267,000 |
Condensed Consolidated Balanc_2
| Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares | Mar. 31, 2023 | Dec. 31, 2022 |
| Statement of Financial Position [Abstract] | ||
| Series B Preferred Stock, par value | $ 0 | $ 0 |
| Series B Preferred Stock, shares authorized | 170,000 | 170,000 |
| Series B Preferred Stock, shares issued | 0 | 170,000 |
| Series B Preferred Stock, shares outstanding | 0 | 170,000 |
| Common stock, no par value | $ 0 | $ 0 |
| Common stock, shares authorized | 50,000,000 | 50,000,000 |
| Common stock, shares issued | 20,015,413 | 16,102,749 |
| Common stock, shares outstanding | 19,971,755 | 16,059,991 |
| Treasury stock, shares | 43,658 | 43,658 |
Condensed Consolidated Statemen
| Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Income Statement [Abstract] | ||
| Net Sales | $ 5,051,000 | $ 5,797,000 |
| Cost of Sales | 3,924,000 | 4,758,000 |
| Gross profit | 1,127,000 | 1,039,000 |
| Operating expenses: | ||
| General and administrative | 961,000 | 837,000 |
| Selling | 32,000 | 38,000 |
| Advertising and marketing | 122,000 | 183,000 |
| Total operating expenses | 1,115,000 | 1,058,000 |
| Income / (Loss) from operations | 12,000 | (19,000) |
| Other (expense) / income: | ||
| Interest expense | (142,000) | (96,000) |
| Other (expense) / income | 526,000 | 94,000 |
| Total other (expense) / income, net | 384,000 | (2,000) |
| Income / (Loss) from continuing operations before taxes | 396,000 | (21,000) |
| Income tax expense | ||
| Net Income / (Loss) | 396,000 | (21,000) |
| Net Loss attributable to noncontrolling interest | ||
| Net Loss attributable to Yunhong CTI Ltd. | 396,000 | (21,000) |
| Other Comprehensive Income (Loss) | ||
| Foreign Currency adjustment | ||
| Comprehensive Loss | 396,000 | (21,000) |
| Deemed Dividends on preferred stock and amortization of beneficial conversion feature | (11,000) | (202,000) |
| Net Loss attributable to Yunhong CTI Ltd Common Shareholders | $ 385,000 | $ (223,000) |
| Basic income (loss) per common share | $ 0.02 | $ (0.04) |
| Diluted income (loss) per common share | $ 0.02 | $ (0.04) |
| Weighted average number of shares and equivalent shares of common stock outstanding: | ||
| Basic | 17,689,552 | 5,900,639 |
| Diluted | 17,689,552 | 5,900,639 |
Condensed Consolidated Statem_2
| Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Cash flows from operating activities: | ||
| Net income/loss from continuing operations | $ 396,000 | $ (21,000) |
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities | ||
| Depreciation and amortization | 80,000 | 98,000 |
| Equity compensation expense | 7,000 | 31,000 |
| Provision for losses on accounts receivable | ||
| Change in assets and liabilities: | ||
| Accounts receivable | (1,726,000) | 125,000 |
| Inventories | 381,000 | (620,000) |
| Prepaid expenses and other assets | (100,000) | 339,000 |
| Trade payables | (35,000) | 215,000 |
| Accrued liabilities | (372,000) | (167,000) |
| Net cash (used in) provided by operating activities | (1,369,000) | 2,000 |
| Cash flows from investing activities: | ||
| Purchases of property, plant and equipment | (56,000) | (15,000) |
| Net cash used in investing activities | (56,000) | (15,000) |
| Cash flows from financing activities: | ||
| Proceeds from issuance of long-term debt and revolving line of credit | 1,409,000 | 155,000 |
| Net cash provided by financing activities | 1,409,000 | 155,000 |
| Net (decrease) / increase in cash and cash equivalents | (16,000) | 142,000 |
| Cash and cash equivalents at beginning of period | 146,000 | 66,000 |
| Cash and cash equivalents at end of period | 130,000 | 208,000 |
| Supplemental disclosure of cash flow information and noncash investing and financing activities: | ||
| Cash payments for interest | 118,000 | 78,000 |
| Accrued Divided and Accretion on preferred stock | 11,000 | 202,000 |
| Lease right-of-use assets and lease liability | 747,000 | |
| Conversion of notes and deposits into common stock | $ 885,000 | |
Consolidated Statements of Stoc
| Consolidated Statements of Stockholders' Equity - USD ($) | Series A Preferred Stock [Member] Preferred Stock [Member] | Series B Preferred Stock [Member] Preferred Stock [Member] | Series C Preferred Stock [Member] Preferred Stock [Member] | Series D Preferred Stock [Member] Preferred Stock [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Treasury Stock, Common [Member] | Total |
| Beginning balance, value at Dec. 31, 2021 | $ 3,155,000 | $ 1,715,000 | $ 1,630,000 | $ 1,512,000 | $ 14,538,000 | $ 4,317,000 | $ (22,655,000) | $ (161,000) | $ 4,051,000 | |
| Beginning balance, shares at Dec. 31, 2021 | 500,000 | 170,000 | 170,000 | 170,000 | 5,930,408 | (44,000) | ||||
| Accrued Deemed Dividend - Series A Preferred Stock | $ 100,000 | (100,000) | ||||||||
| Accrued Deemed Dividend - Series B Preferred Stock | $ 34,000 | (34,000) | ||||||||
| Accrued Deemed Dividend - Series C Preferred Stock | $ 34,000 | (34,000) | ||||||||
| Accrued Deemed Dividend - Series D Preferred Stock | $ 34,000 | (34,000) | ||||||||
| Stock Issuance | ||||||||||
| Stock issued during period, shares, new issues | 25,000 | |||||||||
| Equity compensation | 31,000 | 31,000 | ||||||||
| Net Income (Loss) | (21,000) | (21,000) | ||||||||
| Ending balance, value at Mar. 31, 2022 | $ 3,255,000 | $ 1,749,000 | $ 1,664,000 | $ 1,546,000 | $ 14,538,000 | 4,146,000 | (22,676,000) | $ (161,000) | 4,061,000 | |
| Ending balance, shares at Mar. 31, 2022 | 500,000 | 170,000 | 170,000 | 170,000 | 5,955,408 | (44,000) | ||||
| Beginning balance, value at Dec. 31, 2022 | $ 1,851,000 | $ 21,283,000 | 3,895,000 | (24,122,000) | $ (161,000) | 2,746,000 | ||||
| Beginning balance, shares at Dec. 31, 2022 | 170,000 | 16,102,749 | (44,000) | |||||||
| Accrued Deemed Dividend - Series B Preferred Stock | $ 11,000 | (11,000) | ||||||||
| Equity compensation | 7,000 | 9,000 | ||||||||
| Net Income (Loss) | 396,000 | 396,000 | ||||||||
| Series B Convertible Preferred Stock Issuance | $ (1,862,000) | 1,862,000 | ||||||||
| Series B Convertible Preferred Stock Modification, shares | (170,000) | 1,888,078 | ||||||||
| Common stock issued for notes payable and investor deposit | 884,000 | 884,000 | ||||||||
| Common stock issued for notes payable and investor deposit, shares | 1,908,336 | |||||||||
| Equity compensation, shares | 116,250 | |||||||||
| Foreign Currency Translation | ||||||||||
| Ending balance, value at Mar. 31, 2023 | $ 21,283,000 | $ 6,637,000 | $ (23,724,000) | $ (161,000) | $ 4,035,000 | |||||
| Ending balance, shares at Mar. 31, 2023 | 20,015,413 | (44,000) |
Basis of Presentation
| Basis of Presentation | 3 Months Ended |
| Mar. 31, 2023 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Presentation | Note 1 - Basis of Presentation The accompanying condensed (a) consolidated balance sheet as of March 31, 2023 and (b) the unaudited interim condensed consolidated financial statements have been prepared and, in the opinion of management, contain all the adjustments (consisting of those of a normal recurring nature) considered necessary to present fairly the consolidated financial position and the consolidated statements of comprehensive income and consolidated cash flows for the periods presented in conformity with generally accepted accounting principles for interim consolidated financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America. Operating results for the three months ended March 31, 2023 are not necessarily indicative of the results that may be expected for the fiscal year ending December 31, 2023. It is suggested that these condensed consolidated financial statements be read in conjunction with the consolidated financial statements and notes thereto included in the Company’s annual report on Form 10-K for the fiscal year ended December 31, 2022, filed on April 12, 2023, which can be found on the Company’s website (www.ctiindustries.com) or www.sec.gov. Principles of consolidation and nature of operations Yunhong CTI Ltd and its inactive subsidiary CTI Supply, Inc. (collectively, the “Company”) (i) design, manufacture and distribute metalized balloon products throughout the world, (ii) distribute purchased latex balloons products, and (iii) operate systems for the production, lamination, coating and printing of films used for food packaging and other commercial uses and for conversion of films to flexible packaging containers and other products. As discussed in Note 2 Discontinued Operations, effective in the third quarter of 2019, the Company determined that it was exiting the business formerly conducted by CTI Europe GmbH (“CTI Europe”). In addition, during October 2021, the Company sold its Mexican subsidiary (Flexo Universal, S. de R.L. de C.V.), a manufacturer of latex balloons. Accordingly, the operations of these entities are classified as discontinued operations in these financial statements. The condensed consolidated financial statements include the accounts of Yunhong CTI Ltd., and CTI Supply, Inc. See Note 2. The determination of whether or not to consolidate a variable interest entity under U.S. GAAP requires a significant amount of judgment concerning the degree of control over an entity by its holders of variable interest. To make these judgments, management has conducted an analysis of the relationship of the holders of variable interest to each other, the design of the entity, the expected operations of the entity, which holder of variable interests is most “closely associated” to the entity and which holder of variable interests is the primary beneficiary required to consolidate the entity. Upon the occurrence of certain events, management reviews and reconsiders its previous conclusion regarding the status of an entity as a variable interest entity. Reclassification Certain amounts in the Company’s condensed consolidated financial statements for prior periods have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of prior periods. Use of estimates In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the amounts reported of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period in the financial statements and accompanying notes. Actual results may differ from those estimates. The Company’s significant estimates include valuation allowances for doubtful accounts and inventory valuation, preferred stock dividends and beneficial conversion features, and assumptions used as inputs in the Black-Scholes option-pricing model. Segments The Company operates as a single segment, both in terms of geography and operations, particularly in light of the October 2021 sale of its Flexo Universal subsidiary. After that date, all manufacturing occurs in the United States. Earnings per share Basic (loss) per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during each period. Diluted (loss) per share is computed by dividing the net loss by the weighted average number of shares of common stock and equivalents (stock options and warrants), unless anti-dilutive, during each period. As of March 31, 2023 and 2022, shares to be issued upon the exercise of options and warrants aggregated 128,000 128,000 Significant Accounting Policies The Company’s significant accounting policies are summarized in Note 2 of the Company’s consolidated financial statements for the year ended December 31, 2022. There were no significant changes to these accounting policies during the three months ended March 31, 2023. Net sales include revenues from sales of products and shipping and handling charges, net of estimates for product returns. Revenue is measured at the amount of consideration the Company expects to receive in exchange for the transferred products. Revenue is recognized at the point in time when we transfer the promised products to the customer and the customer obtains control over the products. The Company recognizes revenue for shipping and handling charges at the time the goods are shipped to the customer, and the costs of outbound freight are included in cost of sales, as we have elected the practical expedient included in ASC 606. The Company provides for product returns based on historical return rates. While we incur costs for sales commissions to our sales employees and outside agents, we recognize commission costs concurrent with the related revenue, as the amortization period is less than one year and we have elected the practical expedient included in ASC 606. We do not incur incremental costs to obtain contracts with our customers. Our product warranties are assurance-type warranties, which promise the customer that the products are as specified in the contract. Therefore, the product warranties are not a separate performance obligation and are accounted for 3s described herein. Sales taxes assessed by governmental authorities are accounted for on a net basis and are excluded from net sales. |
Liquidity and Going Concern
| Liquidity and Going Concern | 3 Months Ended |
| Mar. 31, 2023 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Liquidity and Going Concern | Note 2 Liquidity and Going Concern The Company’s financial statements are prepared using accounting principles generally accepted in the United States (“U.S. GAAP”) applicable to a going concern, which contemplates the realization of assets and liquidation of liabilities in the normal course of business. The Company has a cumulative net loss from inception to March 31, 2023 of approximately $ 23 The ability of the Company to continue as a going concern is dependent on the Company obtaining adequate capital to fund operating losses. Management’s plans to continue as a going concern include raising additional capital through sales of equity securities and borrowing, continuing to focus our Company on the most profitable elements, and exploring alternative funding sources on an as needed basis. However, management cannot provide any assurances that the Company will be successful in accomplishing any of its plans. The COVID-19 pandemic, supply chain challenges, and inflationary pressures have impacted the Company’s business operations to some extent and is expected to continue to do so and, these impacts may include reduced access to capital. The ability of the Company to continue as a going concern may be dependent upon its ability to successfully secure other sources of financing and attain profitable operations. There is substantial doubt about the ability of the Company to continue as a going concern for one year from the issuance of the accompanying consolidated financial statements. The accompanying consolidated financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a going concern. The Company’s primary sources of liquidity have traditionally been comprised of cash and cash equivalents as well as availability under the Credit Agreement in place at the time (see Note 4). We endured compliance failures with covenants until September 2021 when we refinanced our credit facility. We believe we have been in compliance with our new credit facility since that time. This credit facility concludes on September 30, 2023. While we expect to obtain a new facility on acceptable terms, there can be no assurance this will occur, particularly in light of increasingly conservative financial markets. |
Debt
| Debt | 3 Months Ended |
| Mar. 31, 2023 | |
| Debt Disclosure [Abstract] | |
| Debt | Note 3 - Debt On September 30, 2021 (the “Closing Date”), the Company entered into a loan and security agreement (the “Agreement”) with Line Financial (the “Lender”), which provides for a senior secured financing consisting of a revolving credit facility (the “Revolving Credit Facility) in an aggregate principal amount of up to $ 6 0.7 Interest on the Senior Facilities shall be the prime rate published from time to time published in the Wall Street Journal ( 8% 1.95 48 15,000 4.62 1.25 2.77 The Senior Facilities mature on September 30, 2023 and shall automatically be extended for successive periods of one year 1.25 The Senior Facilities require that the Company shall, commencing December 31, 2021, maintain Tangible Net Worth of at least $ 4,000,000 The Senior Facilities contain certain affirmative and negative covenants that limit the ability of the Company, among other things and subject to certain significant exceptions, to incur debt or liens, make investments, enter into certain mergers, consolidations, and acquisitions, pay dividends and make other restricted payments, or make capital expenditures exceeding $ 1,000,000 As of March 31, 2023, the term loan balance amounted to $ 0.5 0.6 0.1 4,284,000 2,878,000 As of January 1, 2019, the Company had a note payable to John H. Schwan, Director and former Chairman of the Board, for $ 1.6 600,000 181,000 3.32 1 1.3 18,000 17,000 As of December 31, 2022, the Company had a note payable to Alex Feng for $ 0.2 3% In accordance with the subordination agreement, payments may be made beginning April 2022 subject to availability under the revolving line of credit, and the maturity date for this loan is March 2024. Along with certain deposits received during 2022, this note was converted into common stock during February 2023 |
Shareholders_ Equity
| Shareholders’ Equity | 3 Months Ended |
| Mar. 31, 2023 | |
| Equity [Abstract] | |
| Shareholders’ Equity | Note 4 - Shareholders’ Equity Series A Convertible Preferred Stock On January 3, 2020, the Company entered into a stock purchase agreement (as amended on February 24, 2020 and April 13, 2020 (the “LF Purchase Agreement”)), pursuant to which the Company agreed to issue and sell, and LF International Pte. Ltd., a Singapore private limited company (“LF International”), which is controlled by Company director, Chairman, President and Chief Executive Officer, Mr. Yubao Li, agreed to purchase, up to 500,000 10.00 5,000,000 200,000 10.00 1 478,000 48,200 400,000 The issuance of the Series A Preferred generated a beneficial conversion feature (BCF), which arises when a debt or equity security is issued with an embedded conversion option that is beneficial to the investor or in the money at inception because the conversion option has an effective strike price that is less than the market price of the underlying stock at the commitment date. The fair value of the common stock into which the Series A Preferred was convertible exceeded the allocated purchase price fair value of the Series A Preferred Stock at the closing dates by approximately $ 2.5 8 10 none 100,000 5 1.3 Series B Convertible Preferred Stock In November 2020, we issued 170,000 1,500,000 10.00 1.00 8 1.5 none 1,851,000 1.9 Series C Convertible Preferred Stock In January 2021 we entered into an agreement with a related party, LF International Pte. Ltd. which is controlled by Company director and Chairman, Mr. Yubao Li, to purchase shares of Series C Preferred stock. We issued 170,000 1,500,000 10.00 1.00 8 1.5 2 Series D Convertible Preferred Stock In June 2021, the Company received $ 1.5 1.5 0.3 8 10 128,000 1.75 85 230,000 1.8 Deposits and Note Conversion to Common Stock In connection with the 2021 sale and leaseback transaction of the Company’s primary facility in Lake Barrington, IL, the landlord advanced rent payments in the form of a note. The balance of that note on December 31, 2022 was approximately $ 172,000 3 84 0.9 1.8 Warrants In connection with the Series A Offering, in 2020 the Company issued 792,660 792,660 1 597,500 391,308 195,160 103,104 128,000 1.75 The Company has applied the Black-Scholes model to value stock-based awards. That model incorporates various assumptions in the valuation of stock-based awards relating to the risk-free rate of interest to be applied, the estimated dividend yield and expected volatility of the Company’s Common Stock. The risk-free rate of interest is the U.S. Treasury yield curve for periods within the expected term of the option at the time of grant. The expected volatility is based on historical volatility of the Company’s Common Stock. The valuation assumptions we have applied to determine the value of warrants granted in 2021 and 2020 were as follows: - Historical stock price volatility: The Company used the weekly closing price to calculate historical annual volatility which was a range from 68 167 - Risk-free interest rate: The Company bases the risk-free interest rate on the rate payable on US treasury securities with a similar maturity in effect at the time of the grant, which was a range from . 42 1.65 - Expected life: The expected life of the warrants represents the period of time warrants were expected to be outstanding. The Company used an expected life of 5 - Dividend yield: The estimate for dividend yield is 0 - Estimated forfeitures: When estimating forfeitures, the Company considers historical terminations as well as anticipated retirements. A summary of the Company’s stock warrant activity is as follows: Schedule of Company’s Stock Warrant Activity Shares under Option Weighted Average Exercise Price Balance at December 31, 2022 128,000 $ 1.75 Granted - - Cancelled/Expired - - Exercised/Issued - - Outstanding at March 31, 2023 128,000 1.75 Exercisable at March 31, 2023 128,000 $ 1.75 As of March 31, 2023 the Company reserved the following shares of its common stock for the exercise of warrants, and preferred stock: Schedule of Reserved Shares of Exercise Warrants 2021 Warrants 128,000 Shares reserved as of March 31, 2023 128,000 Effective January 2022, and in accordance with the Employment Agreement of Chief Executive Officer Frank Cesario, a grant of restricted stock was made in the amount of 250,000 25,000 225,000 225,000 ● The restrictions on 56,250 ● The restrictions on 56,250 ● The restrictions on 56,250 1.5 ● The restrictions on 56,250 During 2022 the Compensation Committee awarded the Chief Operating Officer a grant of 100,000 20,000 20,000 The Audit Committee (as defined in the Plan) shall be responsible for determining when the conditions above have been satisfied. The Company records compensation expense with each vesting, and records a likelihood of vesting weighted analysis to the extent it has visibility to do so. Without such visibility, it considers such probability as de minimis until additional information is available. |
Legal Proceedings
| Legal Proceedings | 3 Months Ended |
| Mar. 31, 2023 | |
| Commitments and Contingencies Disclosure [Abstract] | |
| Legal Proceedings | Note 5 - Legal Proceedings The Company may be party to certain lawsuits or claims arising in the normal course of business. The ultimate outcome of these matters is unknown but, in the opinion of management, we do not believe any of these proceedings will have, individually or in the aggregate, a material adverse effect upon our financial condition, cash flows or future results of operation. |
Inventories
| Inventories | 3 Months Ended |
| Mar. 31, 2023 | |
| Inventory Disclosure [Abstract] | |
| Inventories | Note 6 Inventories Schedule of Inventories March 31, 2023 December 31, 2022 Raw materials $ 1,374,000 $ 1,457,000 Work in process 2,631,000 2,513,000 Finished goods 3,939,000 4,355,000 Total inventories $ 7,944,000 $ 8,325,000 |
Concentration of Credit Risk
| Concentration of Credit Risk | 3 Months Ended |
| Mar. 31, 2023 | |
| Risks and Uncertainties [Abstract] | |
| Concentration of Credit Risk | Note 7 - Concentration of Credit Risk Concentration of credit risk with respect to trade accounts receivable is generally limited due to the large number of entities comprising the Company’s customer base. The Company performs ongoing credit evaluations and provides an allowance for potential credit losses against the portion of accounts receivable which is estimated to be uncollectible. Such losses have historically been within management’s expectations. During the three months ended March 31, 2023 and 2022, there were two Schedule of Concentration Risk Three Months Ended Three Months Ended March 31, 2023 March 31, 2022 Customer Net Sales % of Net Sales Net Sales % of Net Sales Customer A $ 2,563,000 50 % $ 2,502,000 43 % Customer B 1,652,000 32 1,347,000 23 As of March 31, 2023, the total amounts owed to the Company by these customers was approximately $ 962,000 2,245,000 29 67 2,426,000 1,554,000 51 33 |
Related Party Transactions
| Related Party Transactions | 3 Months Ended |
| Mar. 31, 2023 | |
| Related Party Transactions [Abstract] | |
| Related Party Transactions | Note 8 - Related Party Transactions John H. Schwan, who resigned as Chairman of the Board on June 1, 2020, has made loans to the Company which had outstanding balances of $ 1.3 No 18,000 16,000 |
Leases
| Leases | 3 Months Ended |
| Mar. 31, 2023 | |
| Leases | |
| Leases | Note 9 - Leases We adopted ASC Topic 842 (Leases) on January 1, 2019. In July 2020, the Company entered into a lease agreement for a building through June 2021 (with no extension options). The monthly lease payments were $ 38,000 This lease was subsequently extended during March 2022 to extend through December 31, 2025 35,000 11 When this lease was extended during March 2022, the ROU (right of use) asset increased to $ 4,277,000 3,530,000 500,000 3,777,000 648,000 2,860,000 |
Subsequent Events
| Subsequent Events | 3 Months Ended |
| Mar. 31, 2023 | |
| Subsequent Events [Abstract] | |
| Subsequent Events | Note 10 - Subsequent Events The Company evaluated subsequent events through the date the financial statements were issued and filed with the Securities and Exchange Commission. During April 2023, the Company and Garden State Securities reached an agreement with respect to tail compensation associated with the Preferred Stock C investment and the 2019 agreement between the parties. The Company issued 125,000 |
Basis of Presentation (Policies
| Basis of Presentation (Policies) | 3 Months Ended |
| Mar. 31, 2023 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Principles of consolidation and nature of operations | Principles of consolidation and nature of operations Yunhong CTI Ltd and its inactive subsidiary CTI Supply, Inc. (collectively, the “Company”) (i) design, manufacture and distribute metalized balloon products throughout the world, (ii) distribute purchased latex balloons products, and (iii) operate systems for the production, lamination, coating and printing of films used for food packaging and other commercial uses and for conversion of films to flexible packaging containers and other products. As discussed in Note 2 Discontinued Operations, effective in the third quarter of 2019, the Company determined that it was exiting the business formerly conducted by CTI Europe GmbH (“CTI Europe”). In addition, during October 2021, the Company sold its Mexican subsidiary (Flexo Universal, S. de R.L. de C.V.), a manufacturer of latex balloons. Accordingly, the operations of these entities are classified as discontinued operations in these financial statements. The condensed consolidated financial statements include the accounts of Yunhong CTI Ltd., and CTI Supply, Inc. See Note 2. The determination of whether or not to consolidate a variable interest entity under U.S. GAAP requires a significant amount of judgment concerning the degree of control over an entity by its holders of variable interest. To make these judgments, management has conducted an analysis of the relationship of the holders of variable interest to each other, the design of the entity, the expected operations of the entity, which holder of variable interests is most “closely associated” to the entity and which holder of variable interests is the primary beneficiary required to consolidate the entity. Upon the occurrence of certain events, management reviews and reconsiders its previous conclusion regarding the status of an entity as a variable interest entity. |
| Reclassification | Reclassification Certain amounts in the Company’s condensed consolidated financial statements for prior periods have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of prior periods. |
| Use of estimates | Use of estimates In preparing financial statements in conformity with accounting principles generally accepted in the United States of America, management makes estimates and assumptions that affect the amounts reported of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period in the financial statements and accompanying notes. Actual results may differ from those estimates. The Company’s significant estimates include valuation allowances for doubtful accounts and inventory valuation, preferred stock dividends and beneficial conversion features, and assumptions used as inputs in the Black-Scholes option-pricing model. |
| Segments | Segments The Company operates as a single segment, both in terms of geography and operations, particularly in light of the October 2021 sale of its Flexo Universal subsidiary. After that date, all manufacturing occurs in the United States. |
| Earnings per share | Earnings per share Basic (loss) per share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during each period. Diluted (loss) per share is computed by dividing the net loss by the weighted average number of shares of common stock and equivalents (stock options and warrants), unless anti-dilutive, during each period. As of March 31, 2023 and 2022, shares to be issued upon the exercise of options and warrants aggregated 128,000 128,000 |
| Significant Accounting Policies | Significant Accounting Policies The Company’s significant accounting policies are summarized in Note 2 of the Company’s consolidated financial statements for the year ended December 31, 2022. There were no significant changes to these accounting policies during the three months ended March 31, 2023. Net sales include revenues from sales of products and shipping and handling charges, net of estimates for product returns. Revenue is measured at the amount of consideration the Company expects to receive in exchange for the transferred products. Revenue is recognized at the point in time when we transfer the promised products to the customer and the customer obtains control over the products. The Company recognizes revenue for shipping and handling charges at the time the goods are shipped to the customer, and the costs of outbound freight are included in cost of sales, as we have elected the practical expedient included in ASC 606. The Company provides for product returns based on historical return rates. While we incur costs for sales commissions to our sales employees and outside agents, we recognize commission costs concurrent with the related revenue, as the amortization period is less than one year and we have elected the practical expedient included in ASC 606. We do not incur incremental costs to obtain contracts with our customers. Our product warranties are assurance-type warranties, which promise the customer that the products are as specified in the contract. Therefore, the product warranties are not a separate performance obligation and are accounted for 3s described herein. Sales taxes assessed by governmental authorities are accounted for on a net basis and are excluded from net sales. |
Shareholders_ Equity (Tables)
| Shareholders’ Equity (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Equity [Abstract] | |
| Schedule of Company’s Stock Warrant Activity | A summary of the Company’s stock warrant activity is as follows: Schedule of Company’s Stock Warrant Activity Shares under Option Weighted Average Exercise Price Balance at December 31, 2022 128,000 $ 1.75 Granted - - Cancelled/Expired - - Exercised/Issued - - Outstanding at March 31, 2023 128,000 1.75 Exercisable at March 31, 2023 128,000 $ 1.75 |
| Schedule of Reserved Shares of Exercise Warrants | As of March 31, 2023 the Company reserved the following shares of its common stock for the exercise of warrants, and preferred stock: Schedule of Reserved Shares of Exercise Warrants 2021 Warrants 128,000 Shares reserved as of March 31, 2023 128,000 |
Inventories (Tables)
| Inventories (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Inventory Disclosure [Abstract] | |
| Schedule of Inventories | Schedule of Inventories March 31, 2023 December 31, 2022 Raw materials $ 1,374,000 $ 1,457,000 Work in process 2,631,000 2,513,000 Finished goods 3,939,000 4,355,000 Total inventories $ 7,944,000 $ 8,325,000 |
Concentration of Credit Risk (T
| Concentration of Credit Risk (Tables) | 3 Months Ended |
| Mar. 31, 2023 | |
| Risks and Uncertainties [Abstract] | |
| Schedule of Concentration Risk | Schedule of Concentration Risk Three Months Ended Three Months Ended March 31, 2023 March 31, 2022 Customer Net Sales % of Net Sales Net Sales % of Net Sales Customer A $ 2,563,000 50 % $ 2,502,000 43 % Customer B 1,652,000 32 1,347,000 23 |
Basis of Presentation (Details
| Basis of Presentation (Details Narrative) - shares | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
| Shares issued upon the exercise of options and warrants | 128,000 | 128,000 |
Liquidity and Going Concern (De
| Liquidity and Going Concern (Details Narrative) - USD ($) | 3 Months Ended | ||
| Mar. 31, 2023 | Mar. 31, 2023 | Mar. 31, 2022 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||
| Net loss | $ 23,000,000 | $ 396,000 | $ (21,000) |
Debt (Details Narrative)
| Debt (Details Narrative) | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||||||
| Mar. 31, 2023 USD ($) Integer | Dec. 31, 2021 USD ($) | Nov. 01, 2021 USD ($) | Jan. 01, 2019 USD ($) $ / shares shares | Aug. 31, 2022 | Sep. 30, 2021 USD ($) | Mar. 31, 2023 USD ($) Integer | Mar. 31, 2022 USD ($) | Dec. 31, 2022 USD ($) | |
| Debt Instrument [Line Items] | |||||||||
| Debt Instrument, covenant, tangible net worth | $ 4,000,000 | ||||||||
| Line of credit | $ 4,284,000 | $ 4,284,000 | $ 2,878,000 | ||||||
| Interest expense, related party | 142,000 | $ 96,000 | |||||||
| John H. Schwan [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Debt conversion, amount | $ 600,000 | ||||||||
| Loan decreased, amount | $ 1,000,000 | ||||||||
| John H. Schwan [Member] | Common Stock [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Debt conversion, shares | shares | 181,000 | ||||||||
| Share Price (in dollars per share) | $ / shares | $ 3.32 | ||||||||
| John H. Schwan [Member] | Related Party [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Notes payable - related party | 1,300,000 | $ 1,600,000 | 1,300,000 | 1,300,000 | |||||
| Interest expense, related party | 18,000 | 16,000 | |||||||
| Alex Feng [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Note payable | $ 200,000 | ||||||||
| Interest rate | 3% | ||||||||
| Loan description | In accordance with the subordination agreement, payments may be made beginning April 2022 subject to availability under the revolving line of credit, and the maturity date for this loan is March 2024. Along with certain deposits received during 2022, this note was converted into common stock during February 2023 | ||||||||
| Maximum [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Capital expenditures amount | $ 1,000,000 | ||||||||
| Line Financial Agreement [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Periodic payment | $ 15,000 | ||||||||
| Term Loan [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Loan amount | 500,000 | 500,000 | |||||||
| Loan and interest payable | 600,000 | 600,000 | |||||||
| Deferred financing costs | 100,000 | 100,000 | |||||||
| Promissory Note [Member] | John H. Schwan [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Loan and interest payable | $ 1,300,000 | 1,300,000 | $ 1,300,000 | ||||||
| Promissory Note [Member] | John H. Schwan [Member] | Related Party [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Interest expense, related party | $ 18,000 | $ 17,000 | |||||||
| PNC Agreements [Member] | PNC [Member] | Term Loan [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Debt face amount | $ 6,000,000 | ||||||||
| Line Financial Agreement [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Monthly installments | Integer | 48 | 48 | |||||||
| Debt instrument collateral monitoring fee percent | 2.77% | 4.62% | |||||||
| Debt instrument fee amount percent | 1.25% | ||||||||
| Debt term | 1 year | ||||||||
| Debt instrument renewal fee percent | 1.25% | ||||||||
| Line Financial Agreement [Member] | Prime Rate [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Debt instrument reference rate | 8% | 8% | |||||||
| Debt percentage per annum | 1.95% | ||||||||
| Line Financial Agreement [Member] | Line Financial [Member] | Term Loan [Member] | |||||||||
| Debt Instrument [Line Items] | |||||||||
| Debt face amount | $ 700,000 | ||||||||
Schedule of Company_s Stock War
| Schedule of Company’s Stock Warrant Activity (Details) - $ / shares | 3 Months Ended | 12 Months Ended |
| Mar. 31, 2023 | Dec. 31, 2020 | |
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
| Exercised/Issued | 597,500 | |
| Ending balance, shares | 792,660 | |
| Warrant [Member] | ||
| Accumulated Other Comprehensive Income (Loss) [Line Items] | ||
| Beginning balance, shares | 128,000 | |
| Weighted average exercise price, beginning balance | $ 1.75 | |
| Granted | ||
| Weighted average exercise price, granted | ||
| Cancelled/Expired | ||
| Weighted average exercise price, cancelled/expired | ||
| Exercised/Issued | ||
| Weighted average exercise price, Exercised/issued | ||
| Ending balance, shares | 128,000 | |
| Weighted average exercise price, ending balance | $ 1.75 | |
| Exercisable shares | 128,000 | |
| Weighted average exercise price, exercisable | $ 1.75 |
Schedule of Reserved Shares of
| Schedule of Reserved Shares of Exercise Warrants (Details) | Mar. 31, 2023 shares |
| Accumulated Other Comprehensive Income (Loss) [Line Items] | |
| Shares reserved (in shares) | 128,000 |
| 2021 Warrants [Member] | |
| Accumulated Other Comprehensive Income (Loss) [Line Items] | |
| Shares reserved (in shares) | 128,000 |
Shareholders_ Equity (Details N
| Shareholders’ Equity (Details Narrative) - USD ($) | 1 Months Ended | 2 Months Ended | 3 Months Ended | 12 Months Ended | ||||||||||||
| Feb. 01, 2023 | Dec. 31, 2022 | Sep. 01, 2022 | Jan. 30, 2022 | Dec. 31, 2021 | Sep. 30, 2021 | Jan. 03, 2020 | Jan. 31, 2022 | Jun. 30, 2021 | Jan. 31, 2021 | Nov. 30, 2020 | Feb. 28, 2021 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
| Class of Stock [Line Items] | ||||||||||||||||
| Purchase price of shares | ||||||||||||||||
| Warrants to purchase shares | 195,160 | 792,660 | ||||||||||||||
| Exercise price of warrants | $ 1.75 | $ 1 | ||||||||||||||
| Payments for rent | $ 172,000 | |||||||||||||||
| Notes interest | 3% | |||||||||||||||
| common stock rate | 84% | |||||||||||||||
| Converted liabilities | $ 900,000 | |||||||||||||||
| Converted shares | 1,800,000 | |||||||||||||||
| Warrants issued | 792,660 | |||||||||||||||
| Warrants acquire | 597,500 | |||||||||||||||
| Cash-less exchange | 103,104 | 391,308 | ||||||||||||||
| volatility | 68% | 68% | ||||||||||||||
| Stock price volatility | 167% | 167% | ||||||||||||||
| Risk-free interest rate | 42% | 1.65% | ||||||||||||||
| Expected life | 5 years | 5 years | ||||||||||||||
| Risk-free interest rate | 0% | 0% | ||||||||||||||
| Number of restricted shares vested | $ (1,369,000) | $ 2,000 | ||||||||||||||
| Restricted Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of shares vested | 20,000 | |||||||||||||||
| Chief Executive Officer [Member] | Restricted Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of restricted stock grants | 250,000 | |||||||||||||||
| Number of restricted shares vested | 25,000 | |||||||||||||||
| Remaining shares | 225,000 | |||||||||||||||
| Chief Executive Officer [Member] | Restricted Stock [Member] | Trailing Twelve MonthEBITDA Equals Or Exceeds One Million [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of restricted shares vested | 56,250 | |||||||||||||||
| Chief Executive Officer [Member] | Restricted Stock [Member] | Common Shares Trade at or Above $5/share for Ten or More Consecutive Trading Days [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of restricted shares vested | 56,250 | |||||||||||||||
| Chief Executive Officer [Member] | Restricted Stock [Member] | Operating Cash Flow, Calculated Cumulatively From the Date of Employment, Equals or Exceeds $1.5 Million [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of restricted shares vested | 56,250 | |||||||||||||||
| Number of restricted shares vested | $ 1,500,000 | |||||||||||||||
| Chief Executive Officer [Member] | Restricted Stock [Member] | Company is Able to Refinance Its Current Lender With a Traditional Lender [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of restricted shares vested | 56,250 | |||||||||||||||
| Chief Operating Officer [Member] | Restricted Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of shares granted | 100,000 | |||||||||||||||
| Number of shares vested | 20,000 | |||||||||||||||
| LF International Offering [Member] | Common Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of shares issued | 400,000 | |||||||||||||||
| Series A Preferred Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Debt instrument convertible beneficial conversion feature | $ 2,500,000 | |||||||||||||||
| Preferred stock, dividend rate | 8% | |||||||||||||||
| Preferred stock, par value | $ 10 | |||||||||||||||
| Payments for dividend | 0 | $ 100,000 | ||||||||||||||
| Series A Preferred Stock [Member] | Investor [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Purchase price of shares | $ 1,000,000 | |||||||||||||||
| Conversion of debt, amount | $ 478,000 | |||||||||||||||
| Debt conversion of shares, shares | 48,200 | |||||||||||||||
| Series A Preferred Stock [Member] | Additional Shares Offering [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of shares issued | 200,000 | |||||||||||||||
| Convertible Series A Preferred Stock [Member] | Common Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Convertible preferred stock, shares issued upon conversion | 5,000,000 | |||||||||||||||
| Common stock dividends, shares | 1,300,000 | |||||||||||||||
| Series B Preferred Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of shares issued | 170,000 | |||||||||||||||
| Purchase price of shares | $ 1,500,000 | |||||||||||||||
| Preferred stock, dividend rate | 8% | |||||||||||||||
| Preferred stock, par value | $ 10 | |||||||||||||||
| Preferred stock conversion price | $ 1 | |||||||||||||||
| Proceeds from issuance of preferred stock | $ 1,500,000 | |||||||||||||||
| Equity carrying value | $ 1,851,000 | $ 0 | ||||||||||||||
| Convertible Series C Preferred Stock [Member] | Common Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Convertible preferred stock, shares issued upon conversion | 1,900,000 | 2,000,000 | ||||||||||||||
| Series C Preferred Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of shares issued | 170,000 | |||||||||||||||
| Purchase price of shares | $ 1,500,000 | |||||||||||||||
| Preferred stock, dividend rate | 8% | |||||||||||||||
| Preferred stock, par value | $ 10 | |||||||||||||||
| Preferred stock conversion price | $ 1 | |||||||||||||||
| Preferred stock with beneficial conversion feature | $ 1,500,000 | |||||||||||||||
| Series D Preferred Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Debt instrument convertible beneficial conversion feature | $ 300,000 | |||||||||||||||
| Preferred stock, dividend rate | 8% | |||||||||||||||
| Preferred stock, par value | $ 10 | $ 10 | ||||||||||||||
| Advance from investor | $ 1,500,000 | |||||||||||||||
| Warrants to purchase shares | 128,000 | 128,000 | 128,000 | |||||||||||||
| Exercise price of warrants | $ 1.75 | $ 1.75 | ||||||||||||||
| Percentage of variable price on VWAP | 85% | 85% | ||||||||||||||
| Fair value of warrants | $ 230,000 | |||||||||||||||
| Series D Preferred Stock [Member] | Unrelated Third Party [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Proceeds from issuance of convertible preferred stock | $ 1,500,000 | |||||||||||||||
| Convertible Series D Preferred Stock [Member] | Common Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Convertible preferred stock, shares issued upon conversion | 1,800,000 | |||||||||||||||
| Stock Purchase Agreement [Member] | Series A Preferred Stock [Member] | ||||||||||||||||
| Class of Stock [Line Items] | ||||||||||||||||
| Number of shares issued | 500,000 | |||||||||||||||
| Shares issued price per share | $ 10 | |||||||||||||||
| Proceeds from share issuance | $ 5,000,000 | |||||||||||||||
Schedule of Inventories (Detail
| Schedule of Inventories (Details) - USD ($) | Mar. 31, 2023 | Dec. 31, 2022 |
| Inventory Disclosure [Abstract] | ||
| Raw materials | $ 1,374,000 | $ 1,457,000 |
| Work in process | 2,631,000 | 2,513,000 |
| Finished goods | 3,939,000 | 4,355,000 |
| Total inventories | $ 7,944,000 | $ 8,325,000 |
Schedule of Concentration Risk
| Schedule of Concentration Risk (Details) - Revenue Benchmark [Member] - Customer Concentration Risk [Member] - USD ($) | 3 Months Ended | |
| Mar. 31, 2023 | Mar. 31, 2022 | |
| Customer A [Member] | ||
| Concentration Risk [Line Items] | ||
| Net Sales | $ 2,563,000 | $ 2,502,000 |
| Percentage of Net Sales | 50% | 43% |
| Customer B [Member] | ||
| Concentration Risk [Line Items] | ||
| Net Sales | $ 1,652,000 | $ 1,347,000 |
| Percentage of Net Sales | 32% | 23% |
Concentration of Credit Risk (D
| Concentration of Credit Risk (Details Narrative) | 3 Months Ended | |
| Mar. 31, 2023 USD ($) Customers | Mar. 31, 2022 USD ($) Customers | |
| Concentration Risk [Line Items] | ||
| Number of major customers | Customers | 2 | 2 |
| Customers A [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||
| Concentration Risk [Line Items] | ||
| Net accounts receivable | $ 962,000 | $ 2,426,000 |
| Concentration risk, percentage | 29% | 51% |
| Customers B [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||
| Concentration Risk [Line Items] | ||
| Net accounts receivable | $ 2,245,000 | $ 1,554,000 |
| Concentration risk, percentage | 67% | 33% |
Related Party Transactions (Det
| Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | |||
| Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2022 | Jan. 01, 2019 | |
| Related Party Transaction [Line Items] | ||||
| Interest expense | $ 142,000 | $ 96,000 | ||
| John H. Schwan [Member] | ||||
| Related Party Transaction [Line Items] | ||||
| Repayments of related party debt | 0 | |||
| John H. Schwan [Member] | Related Party [Member] | ||||
| Related Party Transaction [Line Items] | ||||
| Due to related parties | 1,300,000 | $ 1,300,000 | $ 1,600,000 | |
| Interest expense | $ 18,000 | $ 16,000 | ||
Leases (Details Narrative)
| Leases (Details Narrative) - USD ($) | 1 Months Ended | 3 Months Ended | ||||
| Dec. 31, 2022 | Mar. 31, 2021 | Jul. 31, 2020 | Mar. 31, 2023 | Mar. 31, 2022 | Dec. 31, 2021 | |
| Lessee, Lease, Description [Line Items] | ||||||
| Monthly lease payments | $ 172,000 | |||||
| Operating lease, right-of-use asset | 3,882,000 | $ 3,757,000 | ||||
| Operating lease, liability, current | 518,000 | 518,000 | ||||
| Operating lease, liability, noncurrent | $ 3,364,000 | $ 3,239,000 | ||||
| Lease Agreement [Member] | ||||||
| Lessee, Lease, Description [Line Items] | ||||||
| Monthly lease payments | $ 35,000 | $ 38,000 | ||||
| Lease description | This lease was subsequently extended during March 2022 to extend through December 31, 2025 | |||||
| Incremental borrowing rate | 11% | |||||
| Operating lease, right-of-use asset | $ 4,277,000 | $ 3,530,000 | ||||
| Operating lease, liability, current | 500,000 | 648,000 | ||||
| Operating lease, liability, noncurrent | $ 3,777,000 | $ 2,860,000 | ||||
Subsequent Events (Details Narr
| Subsequent Events (Details Narrative) | 1 Months Ended |
| Apr. 30, 2023 shares | |
| Subsequent Event [Member] | |
| Subsequent Event [Line Items] | |
| Restricted stock | 125,000 |