Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | Apr. 27, 2021 | |
Document Information [Line Items] | ||
Entity Registrant Name | RiceBran Technologies | |
Entity Central Index Key | 0001063537 | |
Trading Symbol | ribt | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 45,238,087 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Amendment Flag | false | |
Title of 12(b) Security | Common Stock, no par value per share |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenues | $ 8,605 | $ 8,330 |
Cost of goods sold | 7,933 | 8,735 |
Gross profit (loss) | 672 | (405) |
Selling, general and administrative expenses | 1,741 | 2,550 |
Loss on disposition of property and equipment | 7 | |
Operating loss | (1,076) | (2,955) |
Interest income | 1 | 11 |
Interest expense | (112) | (49) |
Gain on extinguishment of PPP loan | 1,792 | |
Other expense | (13) | (45) |
Other income | 5 | |
Income (loss) before income taxes | 592 | (3,033) |
Income tax benefit | (1) | |
Net income (loss) | $ 591 | $ (3,033) |
Earnings (loss) per common share: | ||
Basic (in dollars per share) | $ 0.01 | $ (0.08) |
Diluted (in dollars per share) | $ 0.01 | $ (0.08) |
Weighted average number of shares outstanding: | ||
Basic (in shares) | 45,635,185 | 39,963,155 |
Diluted (in shares) | 46,556,247 | 39,963,155 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 5,418 | $ 5,263 |
Accounts receivable, net of allowance for doubtful accounts of $3 and $9 | 3,627 | 2,819 |
Inventories | 1,494 | 1,878 |
Other current assets | 1,722 | 1,380 |
Total current assets | 12,261 | 11,340 |
Property and equipment, net | 15,860 | 16,367 |
Operating lease right-of-use assets | 2,372 | 2,452 |
Goodwill | 3,915 | 3,915 |
Intangible assets | 670 | 722 |
Total assets | 35,078 | 34,796 |
Current liabilities: | ||
Accounts payable | 1,076 | 955 |
Commodities payable | 1,381 | 825 |
Accrued salary, wages and benefits | 774 | 601 |
Accrued expenses | 499 | 536 |
Operating lease liabilities, current portion | 353 | 344 |
Due under insurance premium finance agreements | 248 | 126 |
Due under factoring agreement | 2,334 | 1,785 |
Finance lease liabilities, current portion | 89 | 82 |
Long-term debt, current portion | 596 | 572 |
Total current liabilities | 7,350 | 5,826 |
Operating lease liabilities, less current portion | 2,190 | 2,330 |
Finance lease liabilities, less current portion | 123 | 113 |
Long-term debt, less current portion | 1,154 | 3,107 |
Total liabilities | 10,817 | 11,376 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Preferred stock, 20,000,000 shares authorized: Series G, convertible, 3,000 shares authorized, stated value $225, 225 shares, issued and outstanding | 112 | 112 |
Common stock, no par value, 150,000,000 shares authorized, 45,274,030 shares and 45,238,087 shares, issued and outstanding | 322,468 | 322,218 |
Accumulated deficit | (298,319) | (298,910) |
Total shareholders' equity | 24,261 | 23,420 |
Total liabilities and shareholders' equity | $ 35,078 | $ 34,796 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Accounts receivable, allowance for doubtful accounts | $ 3 | $ 9 |
Preferred stock, shares authorized (in shares) | 20,000,000 | 20,000,000 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 150,000,000 | 150,000,000 |
Common stock, shares issued (in shares) | 45,274,030 | 45,238,087 |
Common stock, shares outstanding (in shares) | 45,274,030 | 45,238,087 |
Series G Preferred Stock [Member] | ||
Preferred stock, shares authorized (in shares) | 3,000 | 3,000 |
Preferred stock, stated value (in dollars per share) | $ 225 | $ 225 |
Preferred stock, shares issued (in shares) | 225 | 225 |
Preferred stock, shares outstanding (in shares) | 225 | 225 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Cash flow from operating activities: | ||
Net income (loss) | $ 591 | $ (3,033) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation | 612 | 579 |
Amortization | 53 | 59 |
Stock and share-based compensation | 253 | 312 |
Gain on extinguishment of PPP loan | (1,792) | |
Other | (18) | (79) |
Changes in operating assets and liabilities: | ||
Accounts receivable | (808) | (1,315) |
Inventories | 384 | (1,018) |
Accounts payable and accrued expenses | 508 | 231 |
Commodities payable | 556 | 1,108 |
Other | (340) | (178) |
Net cash used in operating activities | (1) | (3,334) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (325) | (221) |
Net cash used in investing activities | (325) | (221) |
Cash flows from financing activities: | ||
Advances on factoring agreement | 7,407 | 7,455 |
Payments on factoring agreement | (6,883) | (6,995) |
Advances on insurance premium finance agreements | 279 | 344 |
Payments on insurance premium finance agreements | (157) | (144) |
Payments of debt and finance lease liabilities | (165) | (32) |
Net cash provided by financing activities | 481 | 628 |
Net change in cash and cash equivalents and restricted cash | 155 | (2,927) |
Cash and cash equivalents and restricted cash, beginning of period | 5,263 | 8,444 |
Cash and cash equivalents and restricted cash, end of period | 5,418 | 5,517 |
Net change in cash and cash equivalents and restricted cash | 155 | (2,927) |
Supplemental disclosures: | ||
Cash paid for interest | 85 | 26 |
Cash paid for income taxes | $ 1 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1. In the opinion of management, the accompanying unaudited condensed consolidated financial statements (interim financial statements) of RiceBran Technologies and its subsidiaries were prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and the rules and regulations of the Securities and Exchange Commission (SEC) for reporting on Form 10 not These interim financial statements should be read in conjunction with the consolidated audited financial statements and notes thereto in our Annual Report on Form 10 December 31, 2020, The results reported in these interim financial statements are not |
Note 2 - Business
Note 2 - Business | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Nature of Operations [Text Block] | NOTE 2. We are a specialty ingredient company focused on the development, production, and marketing of products derived from traditional and ancient small grains. We create and produce products utilizing proprietary processes to deliver improved nutrition, ease of use, and extended shelf-life, while addressing consumer demand for all natural, non-GMO and organic products. We believe our products are valuable alternatives to traditional food ingredients. Notably, we apply our proprietary technologies to convert raw rice bran into stabilized rice bran (SRB), and high value-added derivative products including: RiBalance, a rice bran nutritional package derived from SRB; RiSolubles, a nutritious, carbohydrate and lipid rich fraction of RiBalance; RiFiber, a fiber rich insoluble derivative of RiBalance and ProRyza, a rice bran protein-based product; as well as a variety of other valuable derivatives extracted from these core products. In granular form, SRB is an ingredient used in products for human and animal consumption. We believe SRB has certain qualities that make it more attractive than ingredients based on the by-products of other agricultural commodities, including corn, soybeans, wheat, and yeast. Our SRB products and SRB derivatives support the production of healthy, natural, hypoallergenic, gluten free, and non-genetically modified ingredients and supplements for use in meats, baked goods, cereals, coatings, health foods, and high-end animal nutrition. Our target customers are food and animal nutrition manufacturers, wholesalers and retailers, both domestically and internationally. We manufacture and distribute SRB from four two one No. 1 No. 2 one one |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 3. The following discusses the accounting standard(s) not In June 2016, ASU No. 2016 13 Financial Instruments Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments 2023 January 1, 2023. not RiceBran Technologies |
Note 4 - Cash and Cash Equivale
Note 4 - Cash and Cash Equivalents | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE 4. As of March 31, 2021, $2.4 three We have cash on deposit in excess of federally insured limits at a bank. We do not |
Note 5 - Accounts Receivable an
Note 5 - Accounts Receivable and Revenues | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Accounts Receivable and Revenues [Text Block} | NOTE 5. Amounts billed and due from our customers are classified as accounts receivables on our consolidated balance sheets and require payment on a short-term basis. Invoices are generally issued at the point control transfers and substantially all of our invoices are due within 30 120 30 Our accounts receivable potentially subject us to significant concentrations of credit risk. Revenues and accounts receivable from significant customers (customers with revenue or accounts receivable in excess of 10% Customer A B % of revenue, three months ended March 31, 2021 7 % 10 % % of revenue, three months ended March 31, 2020 8 % 17 % % of accounts receivable, as of March 31, 2021 10 % 10 % % of accounts receivable, as of December 31, 2020 17 % 1 % The following table presents revenues by geographic area shipped to (in thousands). Three Months Ended March 31, 2021 2020 United States $ 8,196 $ 7,968 Other countries 409 362 Revenues $ 8,605 $ 8,330 |
Note 6 - Inventories
Note 6 - Inventories | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 6. The following table details the components of inventories (in thousands). March 31, December 31, 2021 2020 Finished goods $ 1,235 $ 1,512 Raw materials 174 236 Packaging 85 130 Inventories $ 1,494 $ 1,878 RiceBran Technologies |
Note 7 - Property and Equipment
Note 7 - Property and Equipment | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 7. The following table details the components of property and equipment (amounts in thousands). March 31, December 31 2021 2020 Estimated Useful Lives Land $ 730 $ 730 Furniture and fixtures 276 276 5-10 years Plant 9,377 9,377 20-40 years, or life of lease Computer and software 1,060 1,060 3-5 years Leasehold improvements 1,880 1,880 4-15 years, or life of lease Machinery and equipment 16,504 16,402 5-15 years Property and equipment, cost 29,827 29,725 Less accumulated depreciation 13,967 13,358 Property and equipment, net $ 15,860 $ 16,367 Amounts payable for property and equipment included in accounts payable of less than $0.1 March 31, 2021, $0.3 December 31, 2020. not $0.7 March 31, 2021, $0.6 December 31, 2020. Involuntary Conversion In 2020, $0.9 $0.1 August 2020 September 2020, $0.1 September 2020, $0.3 $0.7 $0.1 third 2020. $0.7 March 31, 2021 December 31, 2020. March 31, 2021. not |
Note 8 - Leases
Note 8 - Leases | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating and Finance Leases [Text Block] | NOTE 8. The components of lease expense and cash flows from leases (amounts in thousands) follow. Three Months Ended March 31, 2021 2020 Finance lease cost: Amortization of right-of use assets, included in cost of goods sold $ 21 $ 21 Interest on lease liabilities 3 4 Operating lease cost, included in selling, general and administrative expenses: Fixed leases cost 129 130 Variable lease cost 38 15 Short-term lease cost - 3 Total lease cost $ 191 $ 173 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 4 $ 4 Operating cash flows from operating leases $ 129 $ 130 Financing cash flows from finance leases $ 26 $ 26 As of March 31, 2021, not March 31, 2021, $0.2 $0.4 2021, $0.1 As of March 31, 2021, not March 31, 2021, Operating Leases Finance Leases Remaining leases terms (in years) 2.6 - 11.9 0.7 - 3.3 Weighted average remaining lease terms (in years) 6.7 2.5 Discount rates 6.3% - 9.0 % 4.3% - 6.0 % Weighted average discount rate 7.7 % 5.3 % Maturities of lease liabilities as of March 31, 2021, Operating Finance Leases Leases 2021 (nine months ended December 31, 2021) $ 355 $ 102 2022 548 83 2023 528 52 2024 429 13 2025 439 - Thereafter 1,029 - Total lease payments 3,328 250 Amounts representing interest (785 ) (38 ) Present value of lease obligations $ 2,543 $ 212 |
Note 9 - Debt
Note 9 - Debt | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 9. We finance certain amounts owed for annual insurance premiums under financing agreements. As of March 31, 2021, November 2021, 4.0% RiceBran Technologies In October 2019, $7.0 may two $0.2 two 0.5% no 5.5%, Due under factoring agreement consists of the following (in thousands). March 31, December 31, 2021 2020 Borrowings outstanding $ 2,387 $ 1,860 Debt issuance costs, net (53 ) (75 ) Due under factoring agreement $ 2,334 $ 1,785 Additional information related to our factoring obligation follows. Three Months Ended March 31, 2021 2020 Average borrowings outstanding (in thousands) $ 879 $ 1,152 Amortization of debt issuance costs (in thousands) $ 23 $ 23 Fees paid, as a percentage of average oustanding borrowings 1.5 % 3.9 % Interest paid, as a percentage of average outstanding borrowings 1.8 % 1.7 % Long-term debt consists of the following (in thousands). March 31, December 31, 2021 2020 Mortgage promissory note - Dated September 2020. Interest accrues at an annual rate which is the greater of 11.0% above the lender's prime rate and 14.3%. Payable in monthly installments through June 2022. Net of $21 debt issuance costs at March 31, 2021. $ 1,686 $ 1,817 Payroll Protection Program note - Dated April 2020. Interest accrued at an annual rate of 1.0%. Forgiven in January 2021. - 1,792 Equipment notes - Initially recorded in November 2018, in the acquisition of Golden Ridge, at the present value of future payments using a discount rate of 4.8% per year, which we determined approximated the market rate for similar debt with similar maturities as of the date of acquisition. Payable in monthly installments. Expire at dates ranging through 2022. 32 37 Equipment note - Dated December 2019. Due in monthly installments through December 2024. Interest accrues at the effective discount rate of 9.3% per year. 32 33 Total long term debt, net $ 1,750 $ 3,679 In April 2020, $1.8 March 2020. December 31 2020, 1.0%. January 2021. 14, In July 2020, September 2020, $1.0 October 2020, $1.0 11.0% 14.3%. 1.0% June 2022. March 31, 2021, 14.3%. RiceBran Technologies Future principal maturities of long-term debt outstanding as of March 31, 2021, 2021 (nine months ended December 31, 2021) $ 456 2022 1,297 2023 9 2024 9 Principal maturities 1,771 Debt issuance costs (21 ) Total long term debt, net $ 1,750 |
Note 10 - Equity, Share-based C
Note 10 - Equity, Share-based Compensation and Warrants | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | NOTE 10. A summary of equity activity for the three March 31, 2021 2020, Shares Preferred Series G Common Preferred Stock Common Stock Accumulated Deficit Equity Balance, December 31, 2020 225 45,238,087 $ 112 $ 322,218 $ (298,910 ) $ 23,420 Common stock awards under equity incentive plans - 29,943 - 250 - 250 Common stock issued to vendor - 6,000 - 3 - 3 Other - - - (3 ) - (3 ) Net income - - - - 591 591 Balance, March 31, 2021 225 45,274,030 $ 112 $ 322,468 $ (298,319 ) $ 24,261 Shares Preferred Series G Common Preferred Stock Common Stock Accumulated Deficit Equity Balance, December 31, 2019 225 40,074,483 $ 112 $ 318,811 $ (287,180 ) $ 31,743 Common stock awards under equity incentive plans - 17,534 - 312 - 312 Net loss - - - - (3,033 ) (3,033 ) Balance, March 31, 2020 225 40,092,017 $ 112 $ 319,123 $ (290,213 ) $ 29,022 Share-based compensation by type of award for the three March 31, 2021, Common stock, vested at issuance and nonvested at issuance $ 28 Stock options 36 Restricted stock units 186 Compensation expense related to common stock awards issued under equity incentive plan $ 250 In the three March 31, 2021, 29,943 $0.94 In the three March 31, 2021, 18,905 $11.54 7.5 RiceBran Technologies Restricted stock unit (RSU) activity for the three March 31, 2021, RSU Shares Issued to Employees Unrecognized Stock Compensation (in thousands) Weighted Average Expense Period (Years) Nonvested at December 31, 2020 1,495,400 $ 730 1.4 Granted 452,400 412 2.0 Expensed - (186 ) Nonvested at March 31, 2021 1,947,800 $ 956 1.4 The shares of common stock subject to the RSUs granted in 2021 two 2021 not As of March 31, 2021, 836,803 386,403 no In the three March 31, 2021, 25,000 $5.25 |
Note 11 - Income Taxes
Note 11 - Income Taxes | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 11. Our tax expense for the three March 31, 2021 2020, no March 31, 2020, not not |
Note 12 - Earnings Per Share (E
Note 12 - Earnings Per Share (EPS) | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 12. Basic EPS is calculated under the two may not Diluted EPS is computed by dividing the net income attributable to RiceBran Technologies common shareholders by the weighted average number of common shares outstanding during the period increased by the number of additional common shares that would have been outstanding if the impact of assumed exercises and conversions is dilutive. The dilutive effects of outstanding options, warrants, nonvested shares of common stock and nonvested restricted stock units that vest solely on the basis of a service condition are calculated using the treasury stock method. The dilutive effects of the outstanding preferred stock are calculated using the if-converted method. Below are reconciliations of the numerators and denominators in the EPS computations for the three March 31, 2021 2020. RiceBran Technologies 2021 2020 NUMERATOR (in thousands): Net income (loss) $ 591 $ (3,033 ) Allocation of earnings to participating convertible preferred stock (3 ) - Numerator for basic EPS - income (loss) available to common shareholders 588 (3,033 ) Effect of dilutive securities: Add back - allocation of earnings to participating convertible preferred stock 3 - Reallocation of earnings to participating convertible preferred stock considering potentially dilutive securities (3 ) - Numerator for diluted EPS - adjusted income (loss) available to common shareholders $ 588 $ (3,033 ) DENOMINATOR: Weighted average number of shares of shares of common stock outstanding 45,248,782 39,963,155 Weighted average number of shares of common stock underlying vested restricted stock units 386,403 - Denominator for basic EPS - weighted average number of shares outstanding 45,635,185 39,963,155 Effect of dilutive securities: Nonvested restricted stock units 845,893 - Stock options 9,626 - Warrants 65,543 - Denominator for diluted EPS - adjusted weighted average number of shares outstanding 46,556,247 39,963,155 The effects of the following potentially dilutive securities, outstanding at March 31, 2021, not three March 31, 2021, 578,121 50,000 No three March 31, 2020, three March 31, 2020, |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurement | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 13. The fair value of cash and cash equivalents, restricted cash, accounts and other receivables and accounts payable approximates their carrying value due to shorter maturities. As of March 31, 2021, $0.3 3 March 31, 2021, 3 |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 14. PPP Audit Contingency As discussed in Note 9, January 2021. may January 2027, six may 2020 Employment Contracts and Severance Payments In the normal course of business, we periodically enter into employment agreements which incorporate indemnification provisions. While the maximum amount to which we may No RiceBran Technologies We have employment contracts with certain officers and key management that include provisions for potential severance payments in the event of without-cause terminations or terminations under certain circumstances after a change in control. In addition, vesting of outstanding nonvested equity grants would accelerate following a change in control. Legal Matters From time to time, we are involved in litigation incidental to the conduct of our business. These matters may no |
Note 15 - Related Party Transac
Note 15 - Related Party Transactions | 3 Months Ended |
Mar. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 15. Our director, Ari Gendason, is an employee and senior vice president and chief investment officer of Continental Grain Company (CGC). As of the date of this filing, CGC owns approximately 23.5% one |
Note 5 - Accounts Receivable _2
Note 5 - Accounts Receivable and Revenues (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Customer A B % of revenue, three months ended March 31, 2021 7 % 10 % % of revenue, three months ended March 31, 2020 8 % 17 % % of accounts receivable, as of March 31, 2021 10 % 10 % % of accounts receivable, as of December 31, 2020 17 % 1 % |
Disaggregation of Revenue [Table Text Block] | Three Months Ended March 31, 2021 2020 United States $ 8,196 $ 7,968 Other countries 409 362 Revenues $ 8,605 $ 8,330 |
Note 6 - Inventories (Tables)
Note 6 - Inventories (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | March 31, December 31, 2021 2020 Finished goods $ 1,235 $ 1,512 Raw materials 174 236 Packaging 85 130 Inventories $ 1,494 $ 1,878 |
Note 7 - Property and Equipme_2
Note 7 - Property and Equipment (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, December 31 2021 2020 Estimated Useful Lives Land $ 730 $ 730 Furniture and fixtures 276 276 5-10 years Plant 9,377 9,377 20-40 years, or life of lease Computer and software 1,060 1,060 3-5 years Leasehold improvements 1,880 1,880 4-15 years, or life of lease Machinery and equipment 16,504 16,402 5-15 years Property and equipment, cost 29,827 29,725 Less accumulated depreciation 13,967 13,358 Property and equipment, net $ 15,860 $ 16,367 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended March 31, 2021 2020 Finance lease cost: Amortization of right-of use assets, included in cost of goods sold $ 21 $ 21 Interest on lease liabilities 3 4 Operating lease cost, included in selling, general and administrative expenses: Fixed leases cost 129 130 Variable lease cost 38 15 Short-term lease cost - 3 Total lease cost $ 191 $ 173 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 4 $ 4 Operating cash flows from operating leases $ 129 $ 130 Financing cash flows from finance leases $ 26 $ 26 |
Lessee, Operating and Finance Leases, Remaining Terms and Discount Rates [Table Text Block] | Operating Leases Finance Leases Remaining leases terms (in years) 2.6 - 11.9 0.7 - 3.3 Weighted average remaining lease terms (in years) 6.7 2.5 Discount rates 6.3% - 9.0 % 4.3% - 6.0 % Weighted average discount rate 7.7 % 5.3 % |
Lessee, Operating and Finance Lease Liability, Maturity [Table Text Block] | Operating Finance Leases Leases 2021 (nine months ended December 31, 2021) $ 355 $ 102 2022 548 83 2023 528 52 2024 429 13 2025 439 - Thereafter 1,029 - Total lease payments 3,328 250 Amounts representing interest (785 ) (38 ) Present value of lease obligations $ 2,543 $ 212 |
Note 9 - Debt (Tables)
Note 9 - Debt (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | March 31, December 31, 2021 2020 Borrowings outstanding $ 2,387 $ 1,860 Debt issuance costs, net (53 ) (75 ) Due under factoring agreement $ 2,334 $ 1,785 Three Months Ended March 31, 2021 2020 Average borrowings outstanding (in thousands) $ 879 $ 1,152 Amortization of debt issuance costs (in thousands) $ 23 $ 23 Fees paid, as a percentage of average oustanding borrowings 1.5 % 3.9 % Interest paid, as a percentage of average outstanding borrowings 1.8 % 1.7 % |
Schedule of Long-term Debt Instruments [Table Text Block] | March 31, December 31, 2021 2020 Mortgage promissory note - Dated September 2020. Interest accrues at an annual rate which is the greater of 11.0% above the lender's prime rate and 14.3%. Payable in monthly installments through June 2022. Net of $21 debt issuance costs at March 31, 2021. $ 1,686 $ 1,817 Payroll Protection Program note - Dated April 2020. Interest accrued at an annual rate of 1.0%. Forgiven in January 2021. - 1,792 Equipment notes - Initially recorded in November 2018, in the acquisition of Golden Ridge, at the present value of future payments using a discount rate of 4.8% per year, which we determined approximated the market rate for similar debt with similar maturities as of the date of acquisition. Payable in monthly installments. Expire at dates ranging through 2022. 32 37 Equipment note - Dated December 2019. Due in monthly installments through December 2024. Interest accrues at the effective discount rate of 9.3% per year. 32 33 Total long term debt, net $ 1,750 $ 3,679 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2021 (nine months ended December 31, 2021) $ 456 2022 1,297 2023 9 2024 9 Principal maturities 1,771 Debt issuance costs (21 ) Total long term debt, net $ 1,750 |
Note 10 - Equity, Share-based_2
Note 10 - Equity, Share-based Compensation and Warrants (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | Shares Preferred Series G Common Preferred Stock Common Stock Accumulated Deficit Equity Balance, December 31, 2020 225 45,238,087 $ 112 $ 322,218 $ (298,910 ) $ 23,420 Common stock awards under equity incentive plans - 29,943 - 250 - 250 Common stock issued to vendor - 6,000 - 3 - 3 Other - - - (3 ) - (3 ) Net income - - - - 591 591 Balance, March 31, 2021 225 45,274,030 $ 112 $ 322,468 $ (298,319 ) $ 24,261 Shares Preferred Series G Common Preferred Stock Common Stock Accumulated Deficit Equity Balance, December 31, 2019 225 40,074,483 $ 112 $ 318,811 $ (287,180 ) $ 31,743 Common stock awards under equity incentive plans - 17,534 - 312 - 312 Net loss - - - - (3,033 ) (3,033 ) Balance, March 31, 2020 225 40,092,017 $ 112 $ 319,123 $ (290,213 ) $ 29,022 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Common stock, vested at issuance and nonvested at issuance $ 28 Stock options 36 Restricted stock units 186 Compensation expense related to common stock awards issued under equity incentive plan $ 250 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | RSU Shares Issued to Employees Unrecognized Stock Compensation (in thousands) Weighted Average Expense Period (Years) Nonvested at December 31, 2020 1,495,400 $ 730 1.4 Granted 452,400 412 2.0 Expensed - (186 ) Nonvested at March 31, 2021 1,947,800 $ 956 1.4 |
Note 12 - Earnings Per Share _2
Note 12 - Earnings Per Share (EPS) (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2021 2020 NUMERATOR (in thousands): Net income (loss) $ 591 $ (3,033 ) Allocation of earnings to participating convertible preferred stock (3 ) - Numerator for basic EPS - income (loss) available to common shareholders 588 (3,033 ) Effect of dilutive securities: Add back - allocation of earnings to participating convertible preferred stock 3 - Reallocation of earnings to participating convertible preferred stock considering potentially dilutive securities (3 ) - Numerator for diluted EPS - adjusted income (loss) available to common shareholders $ 588 $ (3,033 ) DENOMINATOR: Weighted average number of shares of shares of common stock outstanding 45,248,782 39,963,155 Weighted average number of shares of common stock underlying vested restricted stock units 386,403 - Denominator for basic EPS - weighted average number of shares outstanding 45,635,185 39,963,155 Effect of dilutive securities: Nonvested restricted stock units 845,893 - Stock options 9,626 - Warrants 65,543 - Denominator for diluted EPS - adjusted weighted average number of shares outstanding 46,556,247 39,963,155 |
Note 2 - Business (Details Text
Note 2 - Business (Details Textual) - Stabilized Rice Bran (SRB) [Member] | 3 Months Ended |
Mar. 31, 2021 | |
Number of Manufacturing and Distribution Locations | 4 |
CALIFORNIA | |
Number of Manufacturing and Distribution Locations | 2 |
LOUISIANA | |
Number of Manufacturing and Distribution Locations | 1 |
ARKANSAS | |
Number of Reporting Units | 1 |
Number of Operating Segments | 1 |
Note 4 - Cash and Cash Equiva_2
Note 4 - Cash and Cash Equivalents (Details Textual) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 5,418 | $ 5,263 |
Money Market Funds [Member] | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 2,400 |
Note 5 - Accounts Receivable _3
Note 5 - Accounts Receivable and Revenues - Revenues and Accounts Receivable from Significant Customers (Details) - Customer Concentration Risk [Member] | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Revenue Benchmark [Member] | Customer A [Member] | |||
Concentration risk, percentage | 7.00% | 8.00% | |
Revenue Benchmark [Member] | Customer B [Member] | |||
Concentration risk, percentage | 10.00% | 17.00% | |
Accounts Receivable [Member] | Customer A [Member] | |||
Concentration risk, percentage | 10.00% | 17.00% | |
Accounts Receivable [Member] | Customer B [Member] | |||
Concentration risk, percentage | 10.00% | 1.00% |
Note 5 - Accounts Receivable _4
Note 5 - Accounts Receivable and Revenues - Revenues by Product Line (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Revenues | $ 8,605 | $ 8,330 |
UNITED STATES | ||
Revenues | 8,196 | 7,968 |
Other Countries [Member] | ||
Revenues | $ 409 | $ 362 |
Note 6 - Inventories - Componen
Note 6 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
Finished goods | $ 1,235 | $ 1,512 |
Raw materials | 174 | 236 |
Packaging | 85 | 130 |
Inventories | $ 1,494 | $ 1,878 |
Note 7 - Property and Equipme_3
Note 7 - Property and Equipment (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | ||
Sep. 30, 2020 | Sep. 30, 2020 | Mar. 31, 2021 | Dec. 31, 2020 | |
Construction Payable, Current | $ 0.1 | $ 0.3 | ||
Construction in Progress, Gross | 0.7 | 0.6 | ||
Unusual or Infrequent Item, or Both, Loss, Gross | $ 0.1 | |||
Unusual or Infrequent Item or Both Other Costs | $ 0.1 | |||
Charges Deductible Under Insurance Policy | 0.1 | |||
Unusual or Infrequent Item, or Both, Insurance Proceeds | 0.3 | |||
Insurance Settlement Accrued Receivable | 0.7 | $ 0.7 | $ 0.7 | $ 0.7 |
Natural Disasters and Other Casualty Events [Member] | ||||
Unusual or Infrequent Item, or Both, Loss, Gross | $ 0.9 |
Note 7 - Property and Equipme_4
Note 7 - Property and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Property, plant, and equipment gross | $ 29,827 | $ 29,725 |
Property, plant, and equipment accumulated depreciation | 13,967 | 13,358 |
Property and equipment, net | 15,860 | 16,367 |
Land [Member] | ||
Property, plant, and equipment gross | 730 | 730 |
Furniture and Fixtures [Member] | ||
Property, plant, and equipment gross | $ 276 | 276 |
Furniture and Fixtures [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 5 years | |
Furniture and Fixtures [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 10 years | |
Plant [Member] | ||
Property, plant, and equipment gross | $ 9,377 | 9,377 |
Plant [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 20 years | |
Plant [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 40 years | |
Computer and Software [Member] | ||
Property, plant, and equipment gross | $ 1,060 | 1,060 |
Computer and Software [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 3 years | |
Computer and Software [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 5 years | |
Leasehold Improvements [Member] | ||
Property, plant, and equipment gross | $ 1,880 | 1,880 |
Leasehold Improvements [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 4 years | |
Leasehold Improvements [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 15 years | |
Machinery and Equipment [Member] | ||
Property, plant, and equipment gross | $ 16,504 | $ 16,402 |
Machinery and Equipment [Member] | Minimum [Member] | ||
Estimated useful lives (Year) | 5 years | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Estimated useful lives (Year) | 15 years |
Note 8 - Leases (Details Textua
Note 8 - Leases (Details Textual) $ in Millions | Mar. 31, 2021USD ($) |
Finance Lease, Right-of-Use Asset, after Accumulated Amortization, Total | $ 0.2 |
Finance Lease, Right-of-Use Asset, before Accumulated Amortization | 0.4 |
Property and Equipment [Member] | |
Finance Lease, Right-of-Use Asset, after Accumulated Amortization, Total | $ 0.1 |
Note 8 - Leases - Components of
Note 8 - Leases - Components of Lease Expense and Cash Flows from Leases (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Amortization of right-of use assets, included in cost of goods sold | $ 21 | $ 21 |
Interest on lease liabilities | 3 | 4 |
Fixed leases cost | 129 | 130 |
Variable lease cost | 38 | 15 |
Short-term lease cost | 3 | |
Total lease cost | 191 | 173 |
Operating cash flows from finance leases | 4 | 4 |
Operating cash flows from operating leases | 129 | 130 |
Financing cash flows from finance leases | $ 26 | $ 26 |
Note 8 - Leases - Remaining Ter
Note 8 - Leases - Remaining Terms and Discount Rates (Details) | Mar. 31, 2021 |
Weighted average remaining lease terms (in years), operating leases (Year) | 6 years 255 days |
Weighted average remaining lease terms (in years), finance leases (Year) | 2 years 182 days |
Weighted average discount rate, operating leases | 7.70% |
Weighted average discount rate, finance leases | 5.30% |
Minimum [Member] | |
Remaining leases terms (in years), operating leases (Year) | 2 years 219 days |
Remaining leases terms (in years), finance leases (Year) | 255 days |
Discount rates, operating leases | 6.30% |
Discount rates, finance leases | 4.30% |
Maximum [Member] | |
Remaining leases terms (in years), operating leases (Year) | 11 years 328 days |
Remaining leases terms (in years), finance leases (Year) | 3 years 109 days |
Discount rates, operating leases | 9.00% |
Discount rates, finance leases | 6.00% |
Note 8 - Leases - Maturities of
Note 8 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Mar. 31, 2021USD ($) |
2021, operating leases | $ 355 |
2021, finance leases | 102 |
2022, operating leases | 548 |
2022, finance leases | 83 |
2023, operating leases | 528 |
2023, finance leases | 52 |
2024, operating leases | 429 |
2024, finance leases | 13 |
2025, operating leases | 439 |
2025, finance leases | |
Thereafter, operating leases | 1,029 |
Thereafter, finance leases | |
Total lease payments, operating leases | 3,328 |
Total lease payments, finance leases | 250 |
Amounts representing interest, operating leases | (785) |
Amounts representing interest, finance leases | (38) |
Present value of lease obligations, operating leases | 2,543 |
Present value of lease obligations, finance leases | $ 212 |
Note 9 - Debt (Details Textual)
Note 9 - Debt (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 10 Months Ended | 12 Months Ended | |||
Oct. 31, 2020 | Sep. 30, 2020 | Jul. 31, 2020 | Mar. 31, 2021 | Oct. 31, 2019 | Dec. 31, 2020 | Apr. 30, 2020 | |
Long-term Debt, Total | $ 1,750 | $ 3,679 | |||||
Factoring Agreement [Member] | Line of Credit [Member] | |||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,000 | ||||||
Debt Instrument, Term (Year) | 2 years | ||||||
Debt Instrument, Fee Amount | $ 200 | ||||||
Line of Credit Facility, Funding Fee, Percentage Above Prime Rate | 0.50% | ||||||
Line of Credit Facility, Funding Fee, Minimum Percentage | 5.50% | ||||||
Paycheck Protection Program CARES Act [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 1.00% | 1.00% | 1.00% | ||||
Long-term Debt, Total | $ 1,792 | $ 1,800 | |||||
Mortgage Agreement [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 14.30% | 14.30% | 14.30% | ||||
Long-term Debt, Total | $ 1,686 | $ 1,817 | |||||
Proceeds from Issuance of Long-term Debt, Total | $ 1,000 | $ 1,000 | |||||
Debt Instrument, Basis Spread on Variable Rate | 11.00% | 11.00% | |||||
Debt Instrument, Facility Fee, Percentage of Each Advance | 1.00% | ||||||
Mortgage Agreement [Member] | Prime Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 11.00% | ||||||
Finance Agreements for Annual Insurance Premiums [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% |
Note 9 - Debt - Due Under Facto
Note 9 - Debt - Due Under Factoring Agreement (Details) - USD ($) $ in Thousands | 3 Months Ended | ||
Mar. 31, 2021 | Mar. 31, 2020 | Dec. 31, 2020 | |
Debt issuance costs | $ (21) | ||
Due under factoring agreement | 2,334 | $ 1,785 | |
Factoring Agreement [Member] | Line of Credit [Member] | |||
Borrowings outstanding | 2,387 | 1,860 | |
Debt issuance costs | (53) | (75) | |
Due under factoring agreement | 2,334 | $ 1,785 | |
Average borrowings outstanding (in thousands) | 879 | $ 1,152 | |
Amortization of debt issuance costs (in thousands) | $ 23 | $ 23 | |
Fees paid, as a percentage of average oustanding borrowings | 1.50% | 3.90% | |
Interest paid, as a percentage of average outstanding borrowings | 1.80% | 1.70% |
Note 9 - Debt - Long-term Debt
Note 9 - Debt - Long-term Debt (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 | Apr. 30, 2020 |
Total long term debt, net | $ 1,750 | $ 3,679 | |
Mortgage Agreement [Member] | |||
Total long term debt, net | 1,686 | 1,817 | |
Paycheck Protection Program CARES Act [Member] | |||
Total long term debt, net | 1,792 | $ 1,800 | |
Equipment Notes, November 2018 [Member] | Notes Payable, Other Payables [Member] | |||
Total long term debt, net | 32 | 37 | |
Equipment Notes, December 2019 [Member] | Notes Payable, Other Payables [Member] | |||
Total long term debt, net | $ 32 | $ 33 |
Note 9 - Debt - Long-term Deb_2
Note 9 - Debt - Long-term Debt (Details) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Mar. 31, 2021 | Dec. 31, 2020 | Jul. 31, 2020 | Apr. 30, 2020 | |
Issuance costs | $ 21 | |||
Mortgage Agreement [Member] | ||||
Interest rate | 14.30% | 14.30% | 14.30% | |
Interest rate, variable | 11.00% | 11.00% | ||
Issuance costs | $ 21 | |||
Paycheck Protection Program CARES Act [Member] | ||||
Interest rate | 1.00% | 1.00% | 1.00% | |
Equipment Notes, November 2018 [Member] | Notes Payable, Other Payables [Member] | ||||
Interest rate | 4.80% | 4.80% | ||
Maturity date | Dec. 31, 2022 | Dec. 31, 2022 | ||
Equipment Notes, December 2019 [Member] | Notes Payable, Other Payables [Member] | ||||
Interest rate | 9.30% | 9.30% |
Note 9 - Debt - Future Principa
Note 9 - Debt - Future Principal Maturities of Long-term Debt Outstanding (Details) - USD ($) $ in Thousands | Mar. 31, 2021 | Dec. 31, 2020 |
2021 (nine months ended December 31, 2021) | $ 456 | |
2022 | 1,297 | |
2023 | 9 | |
2024 | 9 | |
Principal maturities | 1,771 | |
Debt issuance costs | (21) | |
Total long term debt, net | $ 1,750 | $ 3,679 |
Note 10 - Equity, Share-based_3
Note 10 - Equity, Share-based Compensation and Warrants (Details Textual) | 3 Months Ended |
Mar. 31, 2021$ / sharesshares | |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Total (in shares) | 18,905 |
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price (in dollars per share) | $ / shares | $ 11.54 |
Share-based Compensation Arrangement By Share-based Payment Award Options Forfeitures and Expirations, Weighted Average Remaining Contractual Term (Year) | 7 years 182 days |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 25,000 |
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 5.25 |
Deferred Restricted Stock Units (RSUs) [Member] | |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Nonvested, Number, Ending Balance (in shares) | 836,803 |
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 386,403 |
Employees [Member] | |
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 29,943 |
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 0.94 |
Note 10 - Equity, Share-based_4
Note 10 - Equity, Share-based Compensation and Warrants - Stockholders Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Balance (in shares) | 45,238,087 | |
Balance | $ 23,420 | $ 31,743 |
Common stock awards under equity incentive plans | 250 | 312 |
Common stock issued to vendor | 3 | |
Other | (3) | |
Net income (loss) | $ 591 | (3,033) |
Balance (in shares) | 45,274,030 | |
Balance | $ 24,261 | 29,022 |
Preferred Stock [Member] | ||
Balance | 112 | 112 |
Common stock awards under equity incentive plans | ||
Common stock issued to vendor | ||
Other | ||
Net income (loss) | ||
Balance | $ 112 | $ 112 |
Preferred Stock [Member] | Series G Preferred Stock [Member] | ||
Balance (in shares) | 225 | 225 |
Common stock awards under equity incentive plans (in shares) | ||
Common stock issued to vendor (in shares) | ||
Balance (in shares) | 225 | 225 |
Common Stock [Member] | ||
Balance (in shares) | 45,238,087 | 40,074,483 |
Balance | $ 322,218 | $ 318,811 |
Common stock awards under equity incentive plans (in shares) | 29,943 | 17,534 |
Common stock awards under equity incentive plans | $ 250 | $ 312 |
Common stock issued to vendor (in shares) | 6,000 | |
Common stock issued to vendor | $ 3 | |
Other | (3) | |
Net income (loss) | ||
Balance (in shares) | 45,274,030 | 40,092,017 |
Balance | $ 322,468 | $ 319,123 |
Retained Earnings [Member] | ||
Balance | (298,910) | (287,180) |
Common stock awards under equity incentive plans | ||
Common stock issued to vendor | ||
Other | ||
Net income (loss) | 591 | (3,033) |
Balance | $ (298,319) | $ (290,213) |
Note 10 - Equity, Share-based_5
Note 10 - Equity, Share-based Compensation and Warrants - Share-based Compensation Expenses Related to Employees and Directors (Details) - The 2014 Equity Incentive Plan [Member] $ in Thousands | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Common stock, vested at issuance and nonvested at issuance | $ 250 |
Common Stock, Vested at Issuance and Nonvested at Issuance [Member] | |
Common stock, vested at issuance and nonvested at issuance | 28 |
Share-based Payment Arrangement, Option [Member] | |
Common stock, vested at issuance and nonvested at issuance | 36 |
Restricted Stock Units (RSUs) [Member] | |
Common stock, vested at issuance and nonvested at issuance | $ 186 |
Note 10 - Equity, Share-based_6
Note 10 - Equity, Share-based Compensation and Warrants - Restricted Stock Unit Activity (Details) - Restricted Stock Units (RSUs) [Member] - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | ||
Nonvested, shares issued (in shares) | 1,495,400 | ||
Nonvested, unrecognized stock compensation | $ 730 | ||
Nonvested, weighted average expense period (Year) | 1 year 146 days | 1 year 146 days | |
Granted (in shares) | 452,400 | ||
Granted, unrecognized stock compensation | $ 412 | ||
Granted, weighted average expense period (Year) | 2 years | ||
Expensed, unrecognized stock compensation | [1] | $ (186) | |
Nonvested, shares issued (in shares) | 1,947,800 | 1,495,400 | |
Nonvested, unrecognized stock compensation | $ 956 | $ 730 | |
[1] | We expensed $0.1 million related to recognition of the unrecognized compensation associated with the cancelled RSU shares in the three months ended March 31, 2020. |
Note 12 - Earnings Per Share _3
Note 12 - Earnings Per Share (EPS) (Details Textual) | 3 Months Ended |
Mar. 31, 2021shares | |
Share-based Payment Arrangement, Option [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 578,121 |
Warrant [Member] | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 50,000 |
Note 12 - Earnings Per Share _4
Note 12 - Earnings Per Share (EPS) -EPS Compensations (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
Net income (loss) | $ 591 | $ (3,033) |
Allocation of earnings to participating convertible preferred stock | (3) | |
Numerator for basic EPS - income (loss) available to common shareholders | 588 | (3,033) |
Add back - allocation of earnings to participating convertible preferred stock | 3 | |
Reallocation of earnings to participating convertible preferred stock considering potentially dilutive securities | (3) | |
Numerator for diluted EPS - adjusted income (loss) available to common shareholders | $ 588 | $ (3,033) |
Weighted average number of shares of shares of common stock outstanding (in shares) | 45,248,782 | 39,963,155 |
Weighted average number of shares of common stock underlying vested restricted stock units (in shares) | 386,403 | |
Denominator for basic EPS - weighted average number of shares outstanding (in shares) | 45,635,185 | 39,963,155 |
Warrants (in shares) | 65,543 | |
Denominator for diluted EPS - adjusted weighted average number of shares outstanding (in shares) | 46,556,247 | 39,963,155 |
Restricted Stock Units (RSUs) [Member] | ||
Nonvested restricted stock units (in shares) | 845,893 | |
Share-based Payment Arrangement, Option [Member] | ||
Nonvested restricted stock units (in shares) | 9,626 |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurement (Details Textual) $ in Millions | Mar. 31, 2021USD ($) |
Fair Value, Recurring [Member] | Fair Value, Inputs, Level 3 [Member] | |
Operating Lease, Fair Value In Excess Of Carrying Amount | $ 0.3 |
Note 15 - Related Party Trans_2
Note 15 - Related Party Transactions (Details Textual) - Continental Grain Company [Member] | 3 Months Ended |
Mar. 31, 2021 | |
Related Party, Right to Designate to Board of Directors, Number of Nominees | 1 |
RiceBran Technologies [Member] | |
Ownership Percentage | 23.50% |