Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Oct. 25, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001063537 | |
Entity Registrant Name | RiceBran Technologies | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 001-36245 | |
Entity Incorporation, State or Country Code | CA | |
Entity Tax Identification Number | 87-0673375 | |
Entity Address, Address Line One | 25420 Kuykendahl Rd., Suite B300 | |
Entity Address, City or Town | Tomball | |
Entity Address, State or Province | TX | |
Entity Address, Postal Zip Code | 77375 | |
City Area Code | 281 | |
Local Phone Number | 675-2421 | |
Title of 12(b) Security | Common Stock, no par value per share | |
Trading Symbol | RIBT | |
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 | 50,973,654 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues | $ 6,909 | $ 5,160 | $ 23,088 | $ 19,393 |
Cost of goods sold | 7,185 | 5,955 | 22,539 | 21,817 |
Gross profit (loss) | (276) | (795) | 549 | (2,424) |
Selling, general and administrative expenses | 1,802 | 1,777 | 5,476 | 6,634 |
Loss (gain) on disposition and involuntary conversion of property and equipment | (1) | 98 | 5 | 406 |
Operating loss | (2,077) | (2,670) | (4,932) | (9,464) |
Interest income | 0 | 0 | 1 | 19 |
Interest expense | (121) | (70) | (353) | (195) |
Gain on extinguishment of PPP loan | 0 | 0 | 1,792 | 0 |
Other expense | (18) | (26) | (55) | (113) |
Other income | 3 | 0 | 3 | 5 |
Loss before income taxes | (2,213) | (2,766) | (3,544) | (9,748) |
Income tax expense | 0 | (8) | (1) | (8) |
Net loss | $ (2,213) | $ (2,774) | $ (3,545) | $ (9,756) |
Loss per common share: | ||||
Basic (in dollars per share) | $ (0.05) | $ (0.07) | $ (0.08) | $ (0.24) |
Diluted (in dollars per share) | $ (0.05) | $ (0.07) | $ (0.08) | $ (0.24) |
Weighted average number of shares outstanding: | ||||
Basic (in shares) | 47,456,842 | 40,824,281 | 46,318,804 | 40,279,866 |
Diluted (in shares) | 47,456,842 | 40,824,281 | 46,318,804 | 40,279,866 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Net loss | $ (2,213) | $ (2,774) | $ (3,545) | $ (9,756) |
Derivative financial instruments designated as cash flow hedges: | ||||
Gains (losses) arising during the period | 0 | 43 | 0 | (57) |
Reclassification of losses realized to cost of goods sold | 0 | 5 | 0 | 57 |
Net other comprehensive income | 0 | 48 | 0 | 0 |
Comprehensive loss | $ (2,213) | $ (2,726) | $ (3,545) | $ (9,756) |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 6,188 | $ 5,263 |
Accounts receivable, net of allowance for doubtful accounts of $22 and $9 | 2,825 | 2,819 |
Inventories | 2,173 | 1,878 |
Other current assets | 1,175 | 1,380 |
Total current assets | 12,361 | 11,340 |
Property and equipment, net | 15,680 | 16,367 |
Operating lease right-of-use assets | 2,210 | 2,452 |
Goodwill | 3,915 | 3,915 |
Intangible assets | 573 | 722 |
Total assets | 34,739 | 34,796 |
Current liabilities: | ||
Accounts payable | 911 | 955 |
Commodities payable | 1,444 | 825 |
Accrued salary, wages and benefits | 989 | 601 |
Accrued expenses | 636 | 536 |
Operating lease liabilities, current portion | 372 | 344 |
Due under insurance premium finance agreements | 411 | 126 |
Due under factoring agreement | 2,018 | 1,785 |
Finance lease liabilities, current portion | 86 | 82 |
Long-term debt, current portion | 1,436 | 572 |
Total current liabilities | 8,303 | 5,826 |
Operating lease liabilities, less current portion | 2,030 | 2,330 |
Finance lease liabilities, less current portion | 101 | 113 |
Long-term debt, less current portion | 47 | 3,107 |
Warrant liability | 647 | 0 |
Total liabilities | 11,128 | 11,376 |
Commitments and contingencies | ||
Shareholders' equity: | ||
Preferred stock, 20,000,000 shares authorized: Series G, convertible, 3,000 shares authorized, stated value $150, 150 shares and 225 shares, issued and outstanding | 75 | 112 |
Common stock, no par value, 150,000,000 shares authorized, 50,166,156 shares and 45,238,087 shares, issued and outstanding | 325,991 | 322,218 |
Accumulated deficit | (302,455) | (298,910) |
Total shareholders' equity | 23,611 | 23,420 |
Total liabilities and shareholders' equity | $ 34,739 | $ 34,796 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts receivable, allowance for doubtful accounts | $ 22 | $ 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) | 50,166,156 | 45,238,087 |
Common stock, shares outstanding (in shares) | 50,166,156 | 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) | $ 150 | $ 150 |
Preferred stock, shares issued (in shares) | 150 | 225 |
Preferred stock, shares outstanding (in shares) | 150 | 225 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flow from operating activities: | ||
Net loss | $ (3,545) | $ (9,756) |
Adjustments to reconcile net loss to net cash used in operating activities | ||
Depreciation | 1,821 | 1,804 |
Amortization | 150 | 173 |
Stock and share-based compensation | 840 | 817 |
Loss on diposition and involuntary conversion of property and equipment | 5 | 406 |
Gain on extinguishment of PPP loan | (1,792) | 0 |
Other | 67 | (18) |
Changes in operating assets and liabilities: | ||
Accounts receivable | (18) | 1,360 |
Inventories | (295) | (767) |
Accounts payable and accrued expenses | 594 | (651) |
Commodities payable | 619 | (275) |
Other | (431) | (321) |
Net cash used in operating activities | (1,985) | (7,228) |
Cash flows from investing activities: | ||
Purchases of property and equipment | (1,187) | (1,060) |
Proceeds from insurance on involuntary conversion | 638 | 250 |
Proceeds from sale of property | 0 | 15 |
Net cash used in investing activities | (549) | (795) |
Cash flows from financing activities: | ||
Advances on factoring agreement | 22,135 | 20,584 |
Payments on factoring agreement | (21,970) | (20,663) |
Advances on insurance premium finance agreements | 962 | 802 |
Payments on insurance premium finance agreements | (677) | (591) |
Advances on long-term debt and finance lease liabilities | 0 | 2,792 |
Payments on long-term debt and finance lease liabilities | (534) | (124) |
Proceeds from issuances of common stock and warrants, net of costs | 3,372 | 657 |
Proceeds from common stock warrant exercises | 171 | 12 |
Net cash provided by financing activities | 3,459 | 3,469 |
Net change in cash and cash equivalents | 925 | (4,554) |
Cash and cash equivalents, beginning of period | 5,263 | 8,444 |
Cash and cash equivalents, end of period | 6,188 | 3,890 |
Net change in cash and cash equivalents | 925 | (4,554) |
Supplemental disclosures: | ||
Cash paid for interest | 267 | 126 |
Cash paid for income taxes | $ 15 | $ 7 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 9 Months Ended |
Sep. 30, 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 (the "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 | 9 Months Ended |
Sep. 30, 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 locations: two facilities located within supplier-owned rice mills in Arbuckle and West Sacramento, California; one company-owned facility in Mermentau, Louisiana; and our own rice mill in Wynne, Arkansas. At our Dillon, Montana facility, we produce SRB-based products and derivatives through proprietary processes. Our rice mill in Wynne, Arkansas also supplies grades U.S. No. 1 No. 2 |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 3. Recent accounting standards not The following discusses the accounting standard(s) not In June 2016, ASU No. 2016 13 Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments 2023 January 1, 2023. not Recently adopted accounting standards In August 2020, ASU 2020 06, Debt with Conversion and Other Options (Subtopic 470 20 Contracts in Entity s Own Equity (Subtopic 815 40 815 40 25. 2020 06 January 1, 2021, no |
Note 4 - Cash and Cash Equivale
Note 4 - Cash and Cash Equivalents | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Cash and Cash Equivalents Disclosure [Text Block] | NOTE 4. As of September 30, 2021, 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 | 9 Months Ended |
Sep. 30, 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 C D E % of revenues, three months ended September 30, 2021 21 % 9 % 7 % 5 % 2 % % of revenues, three months ended September 30, 2020 - % - % 6 % 12 % 4 % % of revenues, nine months ended September 30, 2021 10 % 11 % 11 % 5 % 2 % % of revenues, nine months ended September 30, 2020 1 % 3 % 11 % 10 % 3 % % of accounts receivable, as of September 30, 2021 15 % 4 % 9 % 8 % 6 % % of accounts receivable, as of December 31, 2020 10 % 7 % 1 % 17 % 10 % The following table presents revenues by geographic area shipped to (in thousands). Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 United States $ 6,450 $ 4,714 $ 21,867 $ 18,214 Other countries 459 446 1,221 1,179 Revenues $ 6,909 $ 5,160 $ 23,088 $ 19,393 |
Note 6 - Inventories
Note 6 - Inventories | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 6. The following table details the components of inventories (in thousands). September 30, December 31, 2021 2020 Finished goods $ 1,461 $ 1,512 Raw materials 558 236 Packaging 154 130 Inventories $ 2,173 $ 1,878 |
Note 7 - Property and Equipment
Note 7 - Property and Equipment | 9 Months Ended |
Sep. 30, 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). September 30, December 31 2021 2020 Estimated Useful Lives Land $ 730 $ 730 Furniture and fixtures 276 276 5 - 10 years Plant 10,044 9,377 20 - 40 years, or life of lease Computer and software 1,095 1,060 3 - 5 years Leasehold improvements 1,880 1,880 4 - 15 years, or life of lease Machinery and equipment 16,811 16,402 5 - 15 years Property and equipment, cost 30,836 29,725 Less accumulated depreciation 15,156 13,358 Property and equipment, net $ 15,680 $ 16,367 Amounts payable for property and equipment included in accounts payable of $0.1 million at September 30, 2021, December 31, 2020. not September 30, 2021, December 31, 2020. Involuntary Conversion In 2020, August 2020 September 2020, September 2020, third 2020. three nine September 30, 2021, September 30, 2021, December 31, 2020. September 30, 2021. not |
Note 8 - Leases
Note 8 - Leases | 9 Months Ended |
Sep. 30, 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 September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Finance lease cost: Amortization of right-of use assets, included in cost of goods sold $ 24 $ 20 $ 67 $ 41 Interest on lease liabilities 2 4 8 8 Operating lease cost, included in selling, general and administrative expenses: Fixed leases cost 129 131 387 261 Variable lease cost 37 33 112 48 Short-term lease cost 21 - 60 3 Total lease cost $ 213 $ 188 $ 634 $ 361 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 2 $ 4 $ 8 $ 8 Operating cash flows from operating leases $ 129 $ 131 $ 387 $ 261 Financing cash flows from finance leases $ 23 $ 20 $ 73 $ 46 As of September 30, 2021, not September 30, 2021, 2021, As of September 30, 2021, not September 30, 2021, Operating Leases Finance Leases Remaining leases terms (in years) 2.1 - 11.4 0.2 - 4.9 Weighted average remaining lease terms (in years) 6.4 2.4 Discount rates 6.3% - 9.0 % 2.8% - 7.3 % Weighted average discount rate 7.7 % 5.1 % Maturities of lease liabilities as of September 30, 2021, Operating Finance Leases Leases 2021 (three months ended December 31, 2021) $ 119 $ 26 2022 548 88 2023 528 57 2024 429 18 2025 439 4 Thereafter 1,028 2 Total lease payments 3,091 195 Amounts representing interest (689 ) (8 ) Present value of lease obligations $ 2,402 $ 187 |
Note 9 - Debt
Note 9 - Debt | 9 Months Ended |
Sep. 30, 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 September 30, 2021, February 2022, In October 2019, may two two no October 2021, two no one Due under factoring agreement consists of the following (in thousands). September 30, December 31, 2021 2020 Borrowings outstanding $ 2,026 $ 1,860 Debt issuance costs, net (8 ) (75 ) Due under factoring agreement $ 2,018 $ 1,785 Additional information related to our factoring obligation follows. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Average borrowings outstanding (in thousands) $ 1,522 $ 1,670 $ 1,324 $ 1,900 Amortization of debt issuance costs (in thousands) $ 23 $ 23 $ 68 $ 68 Fees paid, as a percentage of average outstanding borrowings 2.0 % 1.4 % 5.0 % 6.0 % Interest paid, as a percentage of average outstanding borrowings 1.6 % 1.5 % 5.0 % 5.0 % Long-term debt consists of the following (in thousands). September 30, December 31, 2021 2020 Mortgage promissory note - Dated September 2020. Interest accrues at an annual rate which is the greater of 11.0% 14.3% $20 $26 $ 1,404 $ 1,817 Payroll Protection Program note - Dated April 2020. Interest accrued at an annual rate of 1.0% - 1,792 Equipment notes - Initially recorded in November 2018, in an acquisition, at the present value of future payments using a discount rate of 4.8% 15 37 Equipment note - Dated December 2019. Due in monthly installments through December 2024. Interest accrues at the effective discount rate of 9.3% 28 33 Equipment note - Dated May 2021. Original principal $46. Due in monthly installments through June 2025. Interest accrues at the effective discount rate of 3.6% 36 - Total long term debt, net $ 1,483 $ 3,679 In April 2020, March 2020. December 31 2020, January 2021. 14, In July 2020, September 2020, October 2020, June 2022. September 30, 2021, 14.3%. Future principal maturities of long-term debt outstanding as of September 30, 2021, 2021 (three months ended December 31, 2021) $ 155 2022 1,306 2023 18 2024 19 2025 5 Principal maturities 1,503 Debt issuance costs (20 ) Total long term debt, net $ 1,483 |
Note 10 - Equity, Share-based C
Note 10 - Equity, Share-based Compensation and Warrants | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Shareholders' Equity and Share-based Payments [Text Block] | NOTE 10. A summary of equity activity follows (in thousands, except share amounts). Shares Preferred Preferred Common Accumulated Series G Common Stock Stock 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 Common stock awards under equity incentive plans - 29,643 - 290 - 290 Common stock issued to vendor - 6,000 - 5 - 5 Exercise of common stock warrant - 177,936 - 171 - 171 Other - - - 3 - 3 Net loss - - - - (1,923 ) (1,923 ) Balance, June 30, 2021 225 45,487,609 112 322,937 (300,242 ) 22,807 Common stock awards under equity incentive plans - 38,978 - 287 - 287 Common stock issued to vendor - 6,000 - 5 - 5 Sale of common stock and common stock warrants, net of costs - 3,062,395 - 2,725 - 2,725 Exercise of common stock warrant - 1,500,000 - - - - Conversion of preferred stock into common stock (75 ) 71,174 (37 ) 37 - - Net loss - - - - (2,213 ) (2,213 ) Balance, September 30, 2021 150 50,166,156 $ 75 $ 325,991 $ (302,455 ) $ 23,611 Shares Other Preferred Preferred Common Accumulated Comprehensive Series G Common Stock Stock Deficit Loss 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 Common stock awards under equity incentive plans - 16,500 - 316 - - 316 Common stock issued to vendors - 31,304 - 36 - - 36 Exercise of common stock warrants - 67,577 - 12 - - 12 Other comprehensive loss - - - - - (48 ) (48 ) Net loss - - - - (3,949 ) - (3,949 ) Balance, June 30, 2020 225 40,207,398 112 319,487 (294,162 ) (48 ) 25,389 Common stock awards under equity incentive plans - 129,404 - 153 - - 153 Sale of common stock, net of costs - 1,635,792 - 657 - - 657 Other comprehensive income - - - - - 48 48 Net loss - - - - (2,774 ) - (2,774 ) Balance, September 30, 2020 225 41,972,594 $ 112 $ 320,297 $ (296,936 ) $ - $ 23,473 RiceBran Technologies Notes to Unaudited Condensed Consolidated Financial Statements Share-based compensation under equity incentive plans, by type of award follows (in thousands). Three Months Ended September 30, 2021 June 30, 2021 March 31, 2021 Common stock, vested at issuance and nonvested at issuance $ 29 $ 32 $ 28 Stock options 35 35 36 Restricted stock units 223 223 186 Compensation expense related to common stock awards issued under equity incentive plans $ 287 $ 290 $ 250 In September 2021, 3. September 2022, September 2023, 5 not may September 13, 2021, 2,307,855 September 13, 2021, September 2021 may Under the terms of the securities purchase agreement related to the September 2021 March 12, 2022. September 13, 2023. During the three September 30, 2021, may March 2020. 3. In the three September 30, 2021, three June 30, 2021, three March 31, 2021, In the three September 30, 2021, three June 30, 2021, three March 31, 2021, RiceBran Technologies Notes to Unaudited Condensed Consolidated Financial Statements A summary of restricted stock unit ("RSU") activity follows. RSU Shares Issued 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 Granted 344,040 375 1.0 Vested (450,400 ) - Expensed - (223 ) Nonvested at June 30, 2021 1,841,440 1,108 1.4 Forfeited (2,907 ) (3 ) Expensed - (223 ) Nonvested at September 30, 2021 1,838,533 $ 882 1.1 The shares of common stock subject to the RSUs granted in 2021 two 2021 not As of September 30, 2021, no In the three September 30, 2021, September 30, 2021, In the three June 30, 2021, In the three March 31, 2021, In October 2021, |
Note 11 - Income Taxes
Note 11 - Income Taxes | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 11. Our tax expense for the three nine September 30, 2021 2020, no September 30, 2021, not not |
Note 12 - Loss Per Share (EPS)
Note 12 - Loss Per Share (EPS) | 9 Months Ended |
Sep. 30, 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 loss 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. Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 NUMERATOR (in thousands): Denominator for basic and diluted EPS - net loss $ (2,213 ) $ (2,774 ) $ (3,545 ) $ (9,756 ) DENOMINATOR: Weighted average number of shares of shares of common stock outstanding 46,620,039 40,691,824 45,755,871 40,232,289 Weighted average number of shares of common stock underlying vested RSUs 836,803 132,457 562,933 47,577 Denominator for basic and diluted EPS - weighted average number of shares outstanding 47,456,842 40,824,281 46,318,804 40,279,866 No three nine September 30, 2021 2020, three nine September 30, 2021 2020, |
Note 13 - Fair Value Measuremen
Note 13 - Fair Value Measurements | 9 Months Ended |
Sep. 30, 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 September 30, 2021, 3 September 30, 2021, 3 The following tables summarize the fair values by input hierarchy of items measured at fair value on a recurring basis on our consolidated balance sheets (in thousands): Level 1 Level 2 Level 3 Total Warrant liability (1) $ - $ - $ 647 $ 647 Total liabilities at fair value $ - $ - $ 647 $ 647 The following tables summarize the changes in level 3 three nine September 30, 2021 ( Fair Value as of Beginning of Period Total Realized and Unrealized Gains (Losses) Issuance of New Instruments Net Transfers (Into) Out of Level 3 Fair Value, at End of Period Change in Unrealized Gains (Losses) on Instruments Still Held Warrant liability (1) $ - $ - $ 647 $ - $ 647 $ - Total Level 3 fair value $ - $ - $ 647 $ - $ 647 $ - ( 1 We estimated the fair value of the Warrant using the Black-Scholes value of a 5-year warrant with an exercise price of $1.00 per share. |
Note 14 - Commitments and Conti
Note 14 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 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 $2 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 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 | 9 Months Ended |
Sep. 30, 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 21.2% of our outstanding common stock. We have agreed that in connection with each annual or special meeting of our shareholders at which members of our board of directors are to be elected, or any written consent of our shareholders pursuant to which members of the board of directors are to be elected, CGC shall have the right to designate one nominee to our board of directors. |
Note 16 - Failure to Comply wit
Note 16 - Failure to Comply with NASDAQ Listing Requirements | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Failure to Comply with Nasdaq Listing Requirements Disclosure [Text Block] | NOTE 16. On September 15, 2021, 5550 2 5550 2 $1.00. $1.00 10, not 20, 5810 3 180 March 14, 2022, may 180 $1.00 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting standards not The following discusses the accounting standard(s) not In June 2016, ASU No. 2016 13 Credit Losses (Topic 326 Measurement of Credit Losses on Financial Instruments 2023 January 1, 2023. not Recently adopted accounting standards In August 2020, ASU 2020 06, Debt with Conversion and Other Options (Subtopic 470 20 Contracts in Entity s Own Equity (Subtopic 815 40 815 40 25. 2020 06 January 1, 2021, no |
Note 5 - Accounts Receivable _2
Note 5 - Accounts Receivable and Revenues (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Customer A B C D E % of revenues, three months ended September 30, 2021 21 % 9 % 7 % 5 % 2 % % of revenues, three months ended September 30, 2020 - % - % 6 % 12 % 4 % % of revenues, nine months ended September 30, 2021 10 % 11 % 11 % 5 % 2 % % of revenues, nine months ended September 30, 2020 1 % 3 % 11 % 10 % 3 % % of accounts receivable, as of September 30, 2021 15 % 4 % 9 % 8 % 6 % % of accounts receivable, as of December 31, 2020 10 % 7 % 1 % 17 % 10 % |
Disaggregation of Revenue [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 United States $ 6,450 $ 4,714 $ 21,867 $ 18,214 Other countries 459 446 1,221 1,179 Revenues $ 6,909 $ 5,160 $ 23,088 $ 19,393 |
Note 6 - Inventories (Tables)
Note 6 - Inventories (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | September 30, December 31, 2021 2020 Finished goods $ 1,461 $ 1,512 Raw materials 558 236 Packaging 154 130 Inventories $ 2,173 $ 1,878 |
Note 7 - Property and Equipme_2
Note 7 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, December 31 2021 2020 Estimated Useful Lives Land $ 730 $ 730 Furniture and fixtures 276 276 5 - 10 years Plant 10,044 9,377 20 - 40 years, or life of lease Computer and software 1,095 1,060 3 - 5 years Leasehold improvements 1,880 1,880 4 - 15 years, or life of lease Machinery and equipment 16,811 16,402 5 - 15 years Property and equipment, cost 30,836 29,725 Less accumulated depreciation 15,156 13,358 Property and equipment, net $ 15,680 $ 16,367 |
Note 8 - Leases (Tables)
Note 8 - Leases (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Finance lease cost: Amortization of right-of use assets, included in cost of goods sold $ 24 $ 20 $ 67 $ 41 Interest on lease liabilities 2 4 8 8 Operating lease cost, included in selling, general and administrative expenses: Fixed leases cost 129 131 387 261 Variable lease cost 37 33 112 48 Short-term lease cost 21 - 60 3 Total lease cost $ 213 $ 188 $ 634 $ 361 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from finance leases $ 2 $ 4 $ 8 $ 8 Operating cash flows from operating leases $ 129 $ 131 $ 387 $ 261 Financing cash flows from finance leases $ 23 $ 20 $ 73 $ 46 |
Lessee, Operating and Finance Leases, Remaining Terms and Discount Rates [Table Text Block] | Operating Leases Finance Leases Remaining leases terms (in years) 2.1 - 11.4 0.2 - 4.9 Weighted average remaining lease terms (in years) 6.4 2.4 Discount rates 6.3% - 9.0 % 2.8% - 7.3 % Weighted average discount rate 7.7 % 5.1 % |
Lessee, Operating and Finance Lease Liability, Maturity [Table Text Block] | Operating Finance Leases Leases 2021 (three months ended December 31, 2021) $ 119 $ 26 2022 548 88 2023 528 57 2024 429 18 2025 439 4 Thereafter 1,028 2 Total lease payments 3,091 195 Amounts representing interest (689 ) (8 ) Present value of lease obligations $ 2,402 $ 187 |
Note 9 - Debt (Tables)
Note 9 - Debt (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | September 30, December 31, 2021 2020 Borrowings outstanding $ 2,026 $ 1,860 Debt issuance costs, net (8 ) (75 ) Due under factoring agreement $ 2,018 $ 1,785 Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 Average borrowings outstanding (in thousands) $ 1,522 $ 1,670 $ 1,324 $ 1,900 Amortization of debt issuance costs (in thousands) $ 23 $ 23 $ 68 $ 68 Fees paid, as a percentage of average outstanding borrowings 2.0 % 1.4 % 5.0 % 6.0 % Interest paid, as a percentage of average outstanding borrowings 1.6 % 1.5 % 5.0 % 5.0 % |
Schedule of Long-term Debt Instruments [Table Text Block] | September 30, December 31, 2021 2020 Mortgage promissory note - Dated September 2020. Interest accrues at an annual rate which is the greater of 11.0% 14.3% $20 $26 $ 1,404 $ 1,817 Payroll Protection Program note - Dated April 2020. Interest accrued at an annual rate of 1.0% - 1,792 Equipment notes - Initially recorded in November 2018, in an acquisition, at the present value of future payments using a discount rate of 4.8% 15 37 Equipment note - Dated December 2019. Due in monthly installments through December 2024. Interest accrues at the effective discount rate of 9.3% 28 33 Equipment note - Dated May 2021. Original principal $46. Due in monthly installments through June 2025. Interest accrues at the effective discount rate of 3.6% 36 - Total long term debt, net $ 1,483 $ 3,679 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2021 (three months ended December 31, 2021) $ 155 2022 1,306 2023 18 2024 19 2025 5 Principal maturities 1,503 Debt issuance costs (20 ) Total long term debt, net $ 1,483 |
Note 10 - Equity, Share-based_2
Note 10 - Equity, Share-based Compensation and Warrants (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | Shares Preferred Preferred Common Accumulated Series G Common Stock Stock 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 Common stock awards under equity incentive plans - 29,643 - 290 - 290 Common stock issued to vendor - 6,000 - 5 - 5 Exercise of common stock warrant - 177,936 - 171 - 171 Other - - - 3 - 3 Net loss - - - - (1,923 ) (1,923 ) Balance, June 30, 2021 225 45,487,609 112 322,937 (300,242 ) 22,807 Common stock awards under equity incentive plans - 38,978 - 287 - 287 Common stock issued to vendor - 6,000 - 5 - 5 Sale of common stock and common stock warrants, net of costs - 3,062,395 - 2,725 - 2,725 Exercise of common stock warrant - 1,500,000 - - - - Conversion of preferred stock into common stock (75 ) 71,174 (37 ) 37 - - Net loss - - - - (2,213 ) (2,213 ) Balance, September 30, 2021 150 50,166,156 $ 75 $ 325,991 $ (302,455 ) $ 23,611 Shares Other Preferred Preferred Common Accumulated Comprehensive Series G Common Stock Stock Deficit Loss 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 Common stock awards under equity incentive plans - 16,500 - 316 - - 316 Common stock issued to vendors - 31,304 - 36 - - 36 Exercise of common stock warrants - 67,577 - 12 - - 12 Other comprehensive loss - - - - - (48 ) (48 ) Net loss - - - - (3,949 ) - (3,949 ) Balance, June 30, 2020 225 40,207,398 112 319,487 (294,162 ) (48 ) 25,389 Common stock awards under equity incentive plans - 129,404 - 153 - - 153 Sale of common stock, net of costs - 1,635,792 - 657 - - 657 Other comprehensive income - - - - - 48 48 Net loss - - - - (2,774 ) - (2,774 ) Balance, September 30, 2020 225 41,972,594 $ 112 $ 320,297 $ (296,936 ) $ - $ 23,473 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended September 30, 2021 June 30, 2021 March 31, 2021 Common stock, vested at issuance and nonvested at issuance $ 29 $ 32 $ 28 Stock options 35 35 36 Restricted stock units 223 223 186 Compensation expense related to common stock awards issued under equity incentive plans $ 287 $ 290 $ 250 |
Share-based Payment Arrangement, Restricted Stock Unit, Activity [Table Text Block] | RSU Shares Issued 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 Granted 344,040 375 1.0 Vested (450,400 ) - Expensed - (223 ) Nonvested at June 30, 2021 1,841,440 1,108 1.4 Forfeited (2,907 ) (3 ) Expensed - (223 ) Nonvested at September 30, 2021 1,838,533 $ 882 1.1 |
Note 12 - Loss Per Share (EPS)
Note 12 - Loss Per Share (EPS) (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended September 30, Nine Months Ended September 30, 2021 2020 2021 2020 NUMERATOR (in thousands): Denominator for basic and diluted EPS - net loss $ (2,213 ) $ (2,774 ) $ (3,545 ) $ (9,756 ) DENOMINATOR: Weighted average number of shares of shares of common stock outstanding 46,620,039 40,691,824 45,755,871 40,232,289 Weighted average number of shares of common stock underlying vested RSUs 836,803 132,457 562,933 47,577 Denominator for basic and diluted EPS - weighted average number of shares outstanding 47,456,842 40,824,281 46,318,804 40,279,866 |
Note 13 - Fair Value Measurem_2
Note 13 - Fair Value Measurements (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Fair Value, Liabilities Measured on Recurring Basis [Table Text Block] | Level 1 Level 2 Level 3 Total Warrant liability (1) $ - $ - $ 647 $ 647 Total liabilities at fair value $ - $ - $ 647 $ 647 |
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Fair Value as of Beginning of Period Total Realized and Unrealized Gains (Losses) Issuance of New Instruments Net Transfers (Into) Out of Level 3 Fair Value, at End of Period Change in Unrealized Gains (Losses) on Instruments Still Held Warrant liability (1) $ - $ - $ 647 $ - $ 647 $ - Total Level 3 fair value $ - $ - $ 647 $ - $ 647 $ - |
Note 2 - Business (Details Text
Note 2 - Business (Details Textual) - Stabilized Rice Bran (SRB) [Member] | 9 Months Ended |
Sep. 30, 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 | Sep. 30, 2021 | Dec. 31, 2020 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 6,188 | $ 5,263 |
Money Market Funds [Member] | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 4,500 |
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 | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Revenue Benchmark [Member] | Customer A [Member] | |||||
Concentration risk, percentage | 21.00% | 0.00% | 10.00% | 1.00% | |
Revenue Benchmark [Member] | Customer B [Member] | |||||
Concentration risk, percentage | 9.00% | 0.00% | 11.00% | 3.00% | |
Revenue Benchmark [Member] | Customer C [Member] | |||||
Concentration risk, percentage | 7.00% | 6.00% | 11.00% | 11.00% | |
Revenue Benchmark [Member] | Customer D [Member] | |||||
Concentration risk, percentage | 5.00% | 12.00% | 5.00% | 10.00% | |
Revenue Benchmark [Member] | Customer E [Member] | |||||
Concentration risk, percentage | 2.00% | 4.00% | 2.00% | 3.00% | |
Accounts Receivable [Member] | Customer A [Member] | |||||
Concentration risk, percentage | 15.00% | 10.00% | |||
Accounts Receivable [Member] | Customer B [Member] | |||||
Concentration risk, percentage | 4.00% | 7.00% | |||
Accounts Receivable [Member] | Customer C [Member] | |||||
Concentration risk, percentage | 9.00% | 1.00% | |||
Accounts Receivable [Member] | Customer D [Member] | |||||
Concentration risk, percentage | 8.00% | 17.00% | |||
Accounts Receivable [Member] | Customer E [Member] | |||||
Concentration risk, percentage | 6.00% | 10.00% |
Note 5 - Accounts Receivable _4
Note 5 - Accounts Receivable and Revenues - Revenues by Product Line (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues | $ 6,909 | $ 5,160 | $ 23,088 | $ 19,393 |
UNITED STATES | ||||
Revenues | 6,450 | 4,714 | 21,867 | 18,214 |
Other Countries [Member] | ||||
Revenues | $ 459 | $ 446 | $ 1,221 | $ 1,179 |
Note 6 - Inventories - Componen
Note 6 - Inventories - Components of Inventories (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
Finished goods | $ 1,461 | $ 1,512 |
Raw materials | 558 | 236 |
Packaging | 154 | 130 |
Inventories | $ 2,173 | $ 1,878 |
Note 7 - Property and Equipme_3
Note 7 - Property and Equipment (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Construction Payable, Current | $ 100 | $ 100 | $ 300 | |||
Construction in Progress, Gross | 800 | 800 | 600 | |||
Unusual or Infrequent Item, or Both, Loss, Gross | $ 100 | |||||
Unusual or Infrequent Item or Both Other Costs | $ 100 | |||||
Charges Deductible Under Insurance Policy | 100 | |||||
Unusual or Infrequent Item, or Both, Insurance Proceeds | 300 | |||||
Insurance Settlement Accrued Receivable | 700 | 100 | $ 700 | 100 | $ 700 | $ 700 |
Proceeds from Insurance Settlement, Investing Activities | $ 400 | $ 638 | $ 250 | |||
Natural Disasters and Other Casualty Events [Member] | ||||||
Unusual or Infrequent Item, or Both, Loss, Gross | $ 900 |
Note 7 - Property and Equipme_4
Note 7 - Property and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Property, plant, and equipment gross | $ 30,836 | $ 29,725 |
Property, plant, and equipment accumulated depreciation | 15,156 | 13,358 |
Property and equipment, net | 15,680 | 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 | $ 10,044 | 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 | $ 1,095 | 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 | $ 16,811 | $ 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 | Sep. 30, 2021USD ($) |
Finance Lease, Right-of-Use Asset, after Accumulated Amortization, Total | $ 0.2 |
Finance Lease, Right-of-Use Asset, before Accumulated Amortization | 0.5 |
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 | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Amortization of right-of use assets, included in cost of goods sold | $ 24 | $ 20 | $ 67 | $ 41 |
Interest on lease liabilities | 2 | 4 | 8 | 8 |
Fixed leases cost | 129 | 131 | 387 | 261 |
Variable lease cost | 37 | 33 | 112 | 48 |
Short-term lease cost | 21 | 0 | 60 | 3 |
Total lease cost | 213 | 188 | 634 | 361 |
Operating cash flows from finance leases | 2 | 4 | 8 | 8 |
Operating cash flows from operating leases | 129 | 131 | 387 | 261 |
Financing cash flows from finance leases | $ 23 | $ 20 | $ 73 | $ 46 |
Note 8 - Leases - Remaining Ter
Note 8 - Leases - Remaining Terms and Discount Rates (Details) | Sep. 30, 2021 |
Weighted average remaining lease terms (in years), operating leases (Year) | 6 years 8 months 12 days |
Weighted average remaining lease terms (in years), finance leases (Year) | 2 years 6 months |
Weighted average discount rate, operating leases | 7.70% |
Weighted average discount rate, finance leases | 5.20% |
Minimum [Member] | |
Remaining leases terms (in years), operating leases (Year) | 2 years 1 month 6 days |
Remaining leases terms (in years), finance leases (Year) | 2 months 12 days |
Discount rates, operating leases | 6.30% |
Discount rates, finance leases | 2.80% |
Maximum [Member] | |
Remaining leases terms (in years), operating leases (Year) | 11 years 4 months 24 days |
Remaining leases terms (in years), finance leases (Year) | 4 years 10 months 24 days |
Discount rates, operating leases | 9.00% |
Discount rates, finance leases | 7.30% |
Note 8 - Leases - Maturities of
Note 8 - Leases - Maturities of Lease Liabilities (Details) $ in Thousands | Sep. 30, 2021USD ($) |
2021, operating leases | $ 119 |
2021, finance leases | 26 |
2022, operating leases | 548 |
2022, finance leases | 88 |
2023, operating leases | 528 |
2023, finance leases | 57 |
2024, operating leases | 429 |
2024, finance leases | 18 |
2025, operating leases | 439 |
2025, finance leases | 4 |
Thereafter, operating leases | 1,028 |
Thereafter, finance leases | 2 |
Total lease payments, operating leases | 3,091 |
Total lease payments, finance leases | 195 |
Amounts representing interest, operating leases | (689) |
Amounts representing interest, finance leases | (8) |
Present value of lease obligations, operating leases | 2,402 |
Present value of lease obligations, finance leases | $ 187 |
Note 9 - Debt (Details Textual)
Note 9 - Debt (Details Textual) - USD ($) $ in Thousands | 1 Months Ended | 9 Months Ended | 10 Months Ended | 12 Months Ended | ||||
Oct. 31, 2021 | Oct. 31, 2020 | Sep. 30, 2020 | Jul. 31, 2020 | Sep. 30, 2021 | Oct. 31, 2019 | Dec. 31, 2020 | Apr. 30, 2020 | |
Long-term Debt, Total | $ 1,483 | $ 3,679 | ||||||
Factoring Agreement [Member] | Line of Credit [Member] | ||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 7,000 | |||||||
Debt Instrument, Term (Year) | 1 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% | ||||||
Long-term Debt, Total | $ 0 | $ 1,792 | $ 1,800 | |||||
Mortgage Agreement [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 14.30% | 14.30% | 14.30% | |||||
Long-term Debt, Total | $ 1,404 | $ 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 | 3.70% |
Note 9 - Debt - Due Under Facto
Note 9 - Debt - Due Under Factoring Agreement (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Debt issuance costs | $ (20) | $ (20) | |||
Due under factoring agreement | 2,018 | 2,018 | $ 1,785 | ||
Factoring Agreement [Member] | Line of Credit [Member] | |||||
Borrowings outstanding | 2,026 | 2,026 | 1,860 | ||
Debt issuance costs | (8) | (8) | (75) | ||
Due under factoring agreement | 2,018 | 2,018 | $ 1,785 | ||
Average borrowings outstanding (in thousands) | 1,522 | $ 1,670 | 1,324 | $ 1,900 | |
Amortization of debt issuance costs (in thousands) | $ 23 | $ 23 | $ 68 | $ 68 | |
Fees paid, as a percentage of average outstanding borrowings | 2.00% | 1.40% | 5.00% | 6.00% | |
Interest paid, as a percentage of average outstanding borrowings | 1.60% | 1.50% | 5.00% | 5.00% |
Note 9 - Debt - Long-term Debt
Note 9 - Debt - Long-term Debt (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 | Apr. 30, 2020 |
Total long term debt, net | $ 1,483 | $ 3,679 | |
Mortgage Agreement [Member] | |||
Total long term debt, net | 1,404 | 1,817 | |
Paycheck Protection Program CARES Act [Member] | |||
Total long term debt, net | 0 | 1,792 | $ 1,800 |
Equipment Notes, November 2018 [Member] | Notes Payable, Other Payables [Member] | |||
Total long term debt, net | 15 | 37 | |
Equipment Notes, December 2019 [Member] | Notes Payable, Other Payables [Member] | |||
Total long term debt, net | 28 | 33 | |
Equipment Notes, May 2021 [Member] | Notes Payable, Other Payables [Member] | |||
Total long term debt, net | $ 36 | $ 0 |
Note 9 - Debt - Long-term Deb_2
Note 9 - Debt - Long-term Debt (Details) (Parentheticals) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2021 | Dec. 31, 2020 | Jul. 31, 2020 | Apr. 30, 2020 | |
Issuance costs | $ 20 | |||
Mortgage Agreement [Member] | ||||
Interest rate | 14.30% | 14.30% | 14.30% | |
Interest rate, variable | 11.00% | 11.00% | ||
Issuance costs | $ 20 | $ 26 | ||
Paycheck Protection Program CARES Act [Member] | ||||
Interest rate | 1.00% | 1.00% | ||
Equipment Notes, November 2018 [Member] | Notes Payable, Other Payables [Member] | ||||
Interest rate | 4.80% | 4.80% | ||
Equipment Notes, December 2019 [Member] | Notes Payable, Other Payables [Member] | ||||
Interest rate | 9.30% | 9.30% | ||
Equipment Notes, May 2021 [Member] | Notes Payable, Other Payables [Member] | ||||
Interest rate | 3.60% |
Note 9 - Debt - Future Principa
Note 9 - Debt - Future Principal Maturities of Long-term Debt Outstanding (Details) - USD ($) $ in Thousands | Sep. 30, 2021 | Dec. 31, 2020 |
2021 (three months ended December 31, 2021) | $ 155 | |
2022 | 1,306 | |
2023 | 18 | |
2024 | 19 | |
2025 | 5 | |
Principal maturities | 1,503 | |
Debt issuance costs | (20) | |
Total long term debt, net | $ 1,483 | $ 3,679 |
Note 10 - Equity, Share-based_3
Note 10 - Equity, Share-based Compensation and Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Millions | Sep. 13, 2021 | Oct. 31, 2021 | Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2021 | Mar. 30, 2020 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Total (in shares) | 1,834 | 8,216 | 18,905 | ||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price (in dollars per share) | $ 1.23 | $ 1.90 | $ 11.54 | ||||
Share-based Compensation Arrangement By Share-based Payment Award Options Forfeitures and Expirations, Weighted Average Remaining Contractual Term (Year) | 8 years 6 months | 8 years 6 months | 7 years 6 months | ||||
Class of Warrant or Right, Warrants Expired During Period (in shares) | 25,000 | ||||||
Class of Warrant or Right, Expired, Exercise Price (in dollars per share) | $ 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) | 1,180,843 | 1,180,843 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Vested in Period (in shares) | 836,803 | ||||||
Employees [Member] | |||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.75 | $ 1.09 | $ 0.94 | $ 0.75 | |||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 38,978 | 29,643 | 29,943 | ||||
The Warrant [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,307,693 | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1 | ||||||
Class of Warrant or Right, Change in Exercise Price, Maximum Percentage of Five-day Volume Weighted Average Common Stock | 110.00% | ||||||
Warrants and Rights Outstanding | $ 0.6 | ||||||
Prefunded Warrant [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 2,307,855 | 807,638 | 807,638 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.0001 | ||||||
Class of Warrant or Right, Exercise Price, Prefunded (in dollars per share) | $ 0.6499 | ||||||
Stock Issued During Period, Cashless Exercise Of Warrants Shares (in shares) | 1,500,000 | ||||||
Class of Warrant or Right, Exercised During Period (in shares) | 1,500,427 | ||||||
Prefunded Warrant [Member] | Subsequent Event [Member] | |||||||
Stock Issued During Period, Cashless Exercise Of Warrants Shares (in shares) | 807,498 | ||||||
Class of Warrant or Right, Exercised During Period (in shares) | 807,638 | ||||||
Cash Exercised Warrants [Member] | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.96 | ||||||
Stock Issued During Period, Shares, Warrants Exercised (in shares) | 177,936 | ||||||
Offering Pursuant to Shelf Registration Statement [Member] | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,307,500 | ||||||
Proceeds from Issuance or Sale of Equity, Total | $ 2.8 | ||||||
Payments of Stock Issuance Costs | $ 0.2 | ||||||
At-the-market Offering Program [Member] | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | 754,895 | ||||||
Payments of Stock Issuance Costs | $ 0.1 | ||||||
Shares Issued, Price Per Share (in dollars per share) | $ 0.80 | $ 0.80 | |||||
Proceeds from Issuance of Common Stock | $ 0.5 | ||||||
Equity Offering, Maximum Offering Amount | $ 6 |
Note 10 - Equity, Share-based_4
Note 10 - Equity, Share-based Compensation and Warrants - Stockholders Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||||||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2020 | Jun. 30, 2020 | Mar. 31, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Balance (in shares) | 45,238,087 | 45,238,087 | ||||||
Balance | $ 22,807 | $ 24,261 | $ 23,420 | $ 25,389 | $ 29,022 | $ 31,743 | $ 23,420 | $ 31,743 |
Common stock awards under equity incentive plans | 287 | 290 | 250 | 153 | 316 | 312 | ||
Common stock issued to vendor | 5 | 5 | 3 | 36 | ||||
Other | 3 | (3) | ||||||
Net loss | (2,213) | (1,923) | 591 | (2,774) | (3,949) | (3,033) | (3,545) | (9,756) |
Exercise of common stock warrant | 0 | 171 | 12 | |||||
Sale of common stock and common stock warrants, net of costs | 2,725 | |||||||
Conversion of preferred stock into common stock | 0 | |||||||
Other comprehensive income (loss) | $ 0 | 48 | (48) | $ 0 | 0 | |||
Sale of common stock, net of costs | 657 | |||||||
Balance (in shares) | 50,166,156 | 50,166,156 | ||||||
Balance | $ 23,611 | 22,807 | 24,261 | 23,473 | 25,389 | 29,022 | $ 23,611 | 23,473 |
Preferred Stock [Member] | ||||||||
Balance | 112 | 112 | 112 | 112 | 112 | 112 | 112 | 112 |
Common stock awards under equity incentive plans | 0 | 0 | 0 | 0 | 0 | 0 | ||
Common stock issued to vendor | 0 | 0 | 0 | 0 | ||||
Other | 0 | 0 | ||||||
Net loss | 0 | 0 | 0 | 0 | 0 | 0 | ||
Exercise of common stock warrant | 0 | 0 | 0 | |||||
Sale of common stock and common stock warrants, net of costs | 0 | |||||||
Conversion of preferred stock into common stock | (37) | |||||||
Other comprehensive income (loss) | 0 | 0 | ||||||
Sale of common stock, net of costs | 0 | |||||||
Balance | $ 75 | $ 112 | $ 112 | $ 112 | $ 112 | $ 112 | $ 75 | $ 112 |
Preferred Stock [Member] | Series G Preferred Stock [Member] | ||||||||
Balance (in shares) | 225 | 225 | 225 | 225 | 225 | 225 | 225 | 225 |
Common stock awards under equity incentive plans (in shares) | 0 | 0 | 0 | 0 | 0 | 0 | ||
Common stock issued to vendor (in shares) | 0 | 0 | 0 | 0 | ||||
Exercise of common stock warrant (in shares) | 0 | 0 | 0 | |||||
Sale of common stock and common stock warrants, net of costs (in shares) | 0 | |||||||
Conversion of preferred stock into common stock (in shares) | (75) | |||||||
Sale of common stock, net of costs (in shares) | 0 | |||||||
Balance (in shares) | 150 | 225 | 225 | 225 | 225 | 225 | 150 | 225 |
Common Stock [Member] | ||||||||
Balance (in shares) | 45,487,609 | 45,274,030 | 45,238,087 | 40,207,398 | 40,092,017 | 40,074,483 | 45,238,087 | 40,074,483 |
Balance | $ 322,937 | $ 322,468 | $ 322,218 | $ 319,487 | $ 319,123 | $ 318,811 | $ 322,218 | $ 318,811 |
Common stock awards under equity incentive plans (in shares) | 38,978 | 29,643 | 29,943 | 129,404 | 16,500 | 17,534 | ||
Common stock awards under equity incentive plans | $ 287 | $ 290 | $ 250 | $ 153 | $ 316 | $ 312 | ||
Common stock issued to vendor (in shares) | 6,000 | 6,000 | 6,000 | 31,304 | ||||
Common stock issued to vendor | $ 5 | $ 5 | $ 3 | $ 36 | ||||
Other | 3 | (3) | ||||||
Net loss | $ 0 | $ 0 | $ 0 | 0 | $ 0 | $ 0 | ||
Exercise of common stock warrant (in shares) | 1,500,000 | 177,936 | 67,577 | |||||
Exercise of common stock warrant | $ 0 | $ 171 | $ 12 | |||||
Sale of common stock and common stock warrants, net of costs (in shares) | 3,062,395 | |||||||
Sale of common stock and common stock warrants, net of costs | $ 2,725 | |||||||
Conversion of preferred stock into common stock (in shares) | 71,174 | |||||||
Conversion of preferred stock into common stock | $ 37 | |||||||
Other comprehensive income (loss) | $ 0 | $ 0 | ||||||
Sale of common stock, net of costs (in shares) | 1,635,792 | |||||||
Sale of common stock, net of costs | $ 657 | |||||||
Balance (in shares) | 50,166,156 | 45,487,609 | 45,274,030 | 41,972,594 | 40,207,398 | 40,092,017 | 50,166,156 | 41,972,594 |
Balance | $ 325,991 | $ 322,937 | $ 322,468 | $ 320,297 | $ 319,487 | $ 319,123 | $ 325,991 | $ 320,297 |
Retained Earnings [Member] | ||||||||
Balance | (300,242) | (298,319) | (298,910) | (294,162) | (290,213) | (287,180) | (298,910) | (287,180) |
Common stock awards under equity incentive plans | 0 | 0 | 0 | 0 | 0 | 0 | ||
Common stock issued to vendor | 0 | 0 | 0 | 0 | ||||
Other | 0 | 0 | ||||||
Net loss | (2,213) | (1,923) | 591 | (2,774) | (3,949) | (3,033) | ||
Exercise of common stock warrant | 0 | 0 | 0 | |||||
Sale of common stock and common stock warrants, net of costs | 0 | |||||||
Conversion of preferred stock into common stock | 0 | |||||||
Other comprehensive income (loss) | 0 | 0 | ||||||
Sale of common stock, net of costs | 0 | |||||||
Balance | $ (302,455) | $ (300,242) | $ (298,319) | (296,936) | (294,162) | (290,213) | $ (302,455) | (296,936) |
AOCI Attributable to Parent [Member] | ||||||||
Balance | (48) | 0 | 0 | 0 | ||||
Common stock awards under equity incentive plans | 0 | 0 | 0 | |||||
Common stock issued to vendor | 0 | |||||||
Net loss | 0 | 0 | 0 | |||||
Exercise of common stock warrant | 0 | |||||||
Other comprehensive income (loss) | 48 | (48) | ||||||
Sale of common stock, net of costs | 0 | |||||||
Balance | $ 0 | $ (48) | $ 0 | $ 0 |
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] - USD ($) $ in Thousands | 3 Months Ended | ||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | |
Compensation expense related to common stock awards issued under equity incentive plans | $ 287 | $ 290 | $ 250 |
Common Stock, Vested at Issuance and Nonvested at Issuance [Member] | |||
Compensation expense related to common stock awards issued under equity incentive plans | 29 | 32 | 28 |
Share-based Payment Arrangement, Option [Member] | |||
Compensation expense related to common stock awards issued under equity incentive plans | 35 | 35 | 36 |
Restricted Stock Units (RSUs) [Member] | |||
Compensation expense related to common stock awards issued under equity incentive plans | $ 223 | $ 223 | $ 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 | 9 Months Ended | 12 Months Ended | |||
Sep. 30, 2021 | Jun. 30, 2021 | Mar. 31, 2021 | Sep. 30, 2021 | Dec. 31, 2020 | ||
Nonvested, shares issued (in shares) | 1,841,440 | 1,947,800 | 1,495,400 | 1,495,400 | ||
Nonvested, unrecognized stock compensation | $ 1,108 | $ 956 | $ 730 | $ 730 | ||
Nonvested, weighted average expense period (Year) | 1 year 1 month 6 days | 1 year 4 months 24 days | 1 year 4 months 24 days | 1 year 4 months 24 days | ||
Granted, nonvested, shares issued (in shares) | 344,040 | 452,400 | ||||
Granted, unrecognized stock compensation | $ 375 | $ 412 | ||||
Granted, weighted average expense period (Year) | 1 year | 2 years | ||||
Expensed, unrecognized stock compensation | $ (223) | $ (223) | $ (186) | [1] | ||
Vested, shares (in shares) | (450,400) | |||||
Forfeited, shares (in shares) | (2,907) | |||||
Forfeited, unrecognized stock compensation | $ (3) | $ (3) | ||||
Nonvested, shares issued (in shares) | 1,838,533 | 1,841,440 | 1,947,800 | 1,838,533 | 1,495,400 | |
Nonvested, unrecognized stock compensation | $ 882 | $ 1,108 | $ 956 | $ 882 | $ 730 | |
[1] | We expensed $0.1 million related to recognition of the unrecognized compensation associated with the cancelled RSU shares in the three months ended March 31, 2020. |
Note 12 - Loss Per Share (EPS_2
Note 12 - Loss Per Share (EPS) -EPS Compensations (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Denominator for basic and diluted EPS - net loss | $ (2,213) | $ (2,774) | $ (3,545) | $ (9,756) |
Weighted average number of shares of shares of common stock outstanding (in shares) | 46,620,039 | 40,691,824 | 45,755,871 | 40,232,289 |
Weighted average number of shares of common stock underlying vested RSUs (in shares) | 836,803 | 132,457 | 562,933 | 47,577 |
Denominator for basic and diluted EPS - weighted average number of shares outstanding (in shares) | 47,456,842 | 40,824,281 | 46,318,804 | 40,279,866 |
Note 13 - Fair Value Measurem_3
Note 13 - Fair Value Measurements (Details Textual) - Fair Value, Recurring [Member] - Fair Value, Inputs, Level 3 [Member] $ in Millions | Sep. 30, 2021USD ($) |
Operating Lease, Fair Value In Excess Of Carrying Amount | $ 0.3 |
Warrants and Rights Outstanding, Term (Year) | 5 years |
Measurement Input, Exercise Price [Member] | |
Warrants and Rights Outstanding, Measurement Input | 1 |
Note 13 - Fair Value Measurem_4
Note 13 - Fair Value Measurements - Fair Value of Liabilities on Recurring Basis (Details) - Fair Value, Recurring [Member] $ in Thousands | Sep. 30, 2021USD ($) | |
Warrant liability (1) | $ 647 | [1] |
Total liabilities at fair value | 647 | |
Fair Value, Inputs, Level 1 [Member] | ||
Warrant liability (1) | 0 | [1] |
Total liabilities at fair value | 0 | |
Fair Value, Inputs, Level 2 [Member] | ||
Warrant liability (1) | 0 | [1] |
Total liabilities at fair value | 0 | |
Fair Value, Inputs, Level 3 [Member] | ||
Warrant liability (1) | 647 | [1] |
Total liabilities at fair value | $ 647 | |
[1] | We estimated the fair value of the Warrant using the Black-Scholes value of a 5-year warrant with an exercise price of $1.00 per share. |
Note 13 - Fair Value Measurem_5
Note 13 - Fair Value Measurements - Changes in Level 3 Items Measured at Fair Value (Details) $ in Thousands | 9 Months Ended | |
Sep. 30, 2021USD ($) | ||
Fair value as of beginning of period | $ 0 | |
Total realized and unrealized gains (losses) | 0 | |
Issuance of new instruments | 647 | |
Net transfers (into) out of level 3 | 0 | |
Fair value at end of period | 647 | |
Change in unrealized gains (losses) on instruments still held | 0 | |
Derivative Financial Instruments, Liabilities [Member] | ||
Fair value as of beginning of period | 0 | [1] |
Total realized and unrealized gains (losses) | 0 | [1] |
Issuance of new instruments | 647 | [1] |
Net transfers (into) out of level 3 | 0 | [1] |
Fair value at end of period | 647 | [1] |
Change in unrealized gains (losses) on instruments still held | $ 0 | [1] |
[1] | We estimated the fair value of the Warrant using the Black-Scholes value of a 5-year warrant with an exercise price of $1.00 per share. |
Note 15 - Related Party Trans_2
Note 15 - Related Party Transactions (Details Textual) - Continental Grain Company [Member] | 9 Months Ended |
Sep. 30, 2021 | |
Related Party, Right to Designate to Board of Directors, Number of Nominees | 1 |
RiceBran Technologies [Member] | |
Ownership Percentage | 21.20% |