Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Feb. 26, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Registrant Name | JONES SODA CO | ||
Entity Central Index Key | 0001083522 | ||
Trading Symbol | jsda | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 64,360,806 | ||
Entity Public Float | $ 11,676,013 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(b) Security | Common Stock |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Current assets: | ||
Cash and cash equivalents | $ 4,614 | $ 5,969 |
Accounts receivable, net of allowance of $93 and $44 | 1,581 | 1,573 |
Inventory | 1,856 | 1,788 |
Prepaid expenses and other current assets | 193 | 310 |
Total current assets | 8,244 | 9,640 |
Fixed assets, net of accumulated depreciation of $554 and $484 | 305 | 162 |
Other assets | 33 | 33 |
Right of use lease asset | 471 | 17 |
Total assets | 9,053 | 9,852 |
Current liabilities: | ||
Accounts payable | 1,385 | 554 |
Lease liability, current portion | 102 | 18 |
Accrued expenses | 853 | 663 |
Taxes payable | 6 | 10 |
Current portion of SBA Loan | 140 | |
Total current liabilities | 2,486 | 1,245 |
Convertible subordinated notes payable, net | 1,386 | 1,333 |
Accrued interest expense | 232 | 147 |
SBA loan, net of current portion | 195 | |
Lease liability, net of current portion | 375 | |
Total liabilities | 4,674 | 2,725 |
Shareholders’ equity (deficit): | ||
Common stock, no par value: Authorized — 100,000,000; issued and outstanding shares — 61,975,748 shares and 61,566,076 shares, respectively | 73,953 | 73,773 |
Accumulated other comprehensive income | 411 | 342 |
Accumulated deficit | (69,985) | (66,988) |
Total shareholders’ equity | 4,379 | 7,127 |
Total liabilities and shareholders’ equity | $ 9,053 | $ 9,852 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Accounts receivable, allowance | $ 93 | $ 44 |
Fixed assets, accumulated depreciation | $ 554 | $ 484 |
Common stock, no par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 100,000,000 | 100,000,000 |
Common stock, shares issued (in shares) | 61,975,748 | 61,566,076 |
Common stock, shares outstanding (in shares) | 61,975,748 | 61,566,076 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 11,895 | $ 11,508 |
Cost of goods sold | 9,216 | 9,125 |
Gross profit | 2,679 | 2,383 |
Operating expenses: | ||
Selling and marketing | 2,579 | 2,447 |
General and administrative | 2,928 | 2,288 |
Total operating expenses | 5,507 | 4,735 |
Loss from operations | (2,828) | (2,352) |
Interest income | 24 | 50 |
Interest expense | (151) | (442) |
Other expense, net | (15) | (5) |
Loss before income taxes | (2,970) | (2,749) |
Income tax expense, net | (27) | (29) |
Net loss | $ (2,997) | $ (2,778) |
Net loss per share - basic and diluted (in dollars per share) | $ (0.05) | $ (0.05) |
Weighted average basic and diluted common shares outstanding (in shares) | 61,792,285 | 51,109,086 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net loss | $ (2,997) | $ (2,778) |
Other comprehensive income: | ||
Foreign currency translation adjustment | 69 | 46 |
Total comprehensive loss | $ (2,928) | $ (2,732) |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity (Deficit) - USD ($) | Common Stock Including Additional Paid in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 41,464,373 | |||
Balance at Dec. 31, 2018 | $ 63,211,000 | $ 296,000 | $ (64,210,000) | $ (703,000) |
Share-based payment activity (in shares) | 163,179 | |||
Share-based payment activity | $ 141,000 | 141,000 | ||
Common stock issuance on conversion of notes payable (in shares) | 4,868,079 | |||
Common stock issuance on conversion of notes payable | $ 1,558,000 | 1,558,000 | ||
Common stock and warrants issued, net of offering costs of $183 (in shares) | 15,000,000 | |||
Common stock and warrants issued, net of offering costs of $183 | $ 8,817,000 | $ 8,817,000 | ||
Exercise of stock options (in shares) | 70,445 | 70,445 | ||
Exercise of stock options | $ 28,000 | $ 28,000 | ||
Beneficial conversion feature on paid-in-kind interest | 18,000 | 18,000 | ||
Net loss | (2,778,000) | (2,778,000) | ||
Other comprehensive income | 46,000 | $ 46,000 | ||
Balance (in shares) at Dec. 31, 2019 | 61,566,076 | 61,566,076 | ||
Balance at Dec. 31, 2019 | $ 73,773,000 | 342,000 | (66,988,000) | $ 7,127,000 |
Share-based payment activity (in shares) | 409,672 | |||
Share-based payment activity | $ 168,000 | $ 168,000 | ||
Exercise of stock options (in shares) | 0 | |||
Beneficial conversion feature on paid-in-kind interest | 12,000 | $ 12,000 | ||
Net loss | (2,997,000) | (2,997,000) | ||
Other comprehensive income | 69,000 | $ 69,000 | ||
Balance (in shares) at Dec. 31, 2020 | 61,975,748 | 61,975,748 | ||
Balance at Dec. 31, 2020 | $ 73,953,000 | $ 411,000 | $ (69,985,000) | $ 4,379,000 |
Consolidated Statements of Sh_2
Consolidated Statements of Shareholders' Equity (Deficit) (Parentheticals) $ in Thousands | 12 Months Ended |
Dec. 31, 2019USD ($) | |
Offering costs | $ 183 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
OPERATING ACTIVITIES: | ||
Net loss | $ (2,997,000) | $ (2,778,000) |
Adjustments to reconcile net loss to net cash flows from operating activities: | ||
Depreciation and amortization | 136,000 | 316,000 |
Stock-based compensation | 174,000 | 141,000 |
Change in allowance for doubtful accounts | 49,000 | 4,000 |
Changes in operating assets and liabilities: | ||
Accounts receivable | (46,000) | (202,000) |
Inventory | (63,000) | (430,000) |
Prepaid expenses and other current assets | 83,000 | (30,000) |
Accounts payable | 824,000 | (508,000) |
Accrued expenses | 307,000 | 139,000 |
Taxes payable | (4,000) | 11,000 |
Other liabilities | 5,000 | (7,000) |
Net cash used in operating activities | (1,532,000) | (3,344,000) |
INVESTING ACTIVITIES: | ||
Purchase of fixed assets | (214,000) | (121,000) |
Net cash used in investing activities | (214,000) | (121,000) |
FINANCING ACTIVITIES: | ||
Repayments on line of credit, net of proceeds | (428,000) | |
Proceeds from exercise of stock options | 28,000 | |
Proceeds from issuance of common stock and warrants, net | 8,817,000 | |
Proceeds from PPP SBA loan | 335,000 | |
Payment of taxes on RSU withholding | (6,000) | |
Net cash provided by financing activities | 329,000 | 8,417,000 |
Net decrease in cash and cash equivalents | (1,417,000) | 4,952,000 |
Effect of exchange rate changes on cash | 62,000 | 26,000 |
Cash and cash equivalents, beginning of period | 5,969,000 | 991,000 |
Cash and cash equivalents, end of period | 4,614,000 | 5,969,000 |
Supplemental disclosure: | ||
Interest | 45,000 | |
Income taxes | 22,000 | 18,000 |
Supplemental disclosure of non-cash transactions: | ||
Conversion of notes payable | 1,558,000 | |
Recognition of lease liability and right-of-use asset | 556,000 | |
Beneficial conversion feature on convertible notes | $ 12,000 | $ 18,000 |
Note 1 - Nature of Operations a
Note 1 - Nature of Operations and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | 1. Nature of Operations and Summary of Significant Accounting Policies Jones Soda Co. develops, produces, markets and distributes premium beverages which it sells and distributes primarily in the United States and Canada through its network of independent distributors and directly to its national and regional retail accounts. We are a Washington corporation and have two Basis of presentation and consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and the Securities and Exchange Commission (SEC) rules and regulations applicable to financial reporting. The consolidated financial statements include our accounts and accounts of our wholly owned subsidiaries. All intercompany transactions between us and our subsidiaries have been eliminated in consolidation. Liquidity As of December 31, 2020 2019, $4.6 $6.0 $5.8 $8.4 2020 2019 $1.5 $3.3 The Company has experienced recurring losses from operations and negative cash flows from operating activities. This situation creates uncertainties about the Company's ability to execute its business plan, finance operations, and indicates substantial doubt about the Company's ability to continue as a going concern. We continue to experience negative cash flows from operations, as well as an ongoing requirement for additional capital to support working capital needs. Therefore, currently, based upon our near-term anticipated level of operations and expenditures, management believes that cash on hand, is not 12 not We may may 19 may may may may not may may not may may may not not one Use of estimates The preparation of the consolidated financial statements requires management to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include, but are not Cash and cash equivalents We consider all highly liquid short-term investments with an original or remaining maturity of three Fair value of financial instruments Applicable accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). We measure our assets and liabilities using inputs from the following three 1 2 not 3 The carrying amounts for cash and cash equivalents, receivables, and payables approximate fair value due to the short-term maturity of these instruments. During the first 2018, $2,920,000 $1,483,000 $1,437,000 December 31, 2020 2019, 2 Accounts receivable Our accounts receivable balance primarily includes balances from trade sales to distributors and retail customers. The allowance for doubtful accounts is our best estimate of the amount of probable credit losses in our existing accounts receivable. We determine the allowance for doubtful accounts based primarily on historical write-off experience. Account balances that are deemed uncollectible, are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Allowances for doubtful accounts of approximately $93,000 $44,000 December 31, 2020 2019, Activity in the allowance for doubtful accounts consists of the following for the years ended December 31 ( 2020 2019 Balance, beginning of year $ 44 $ 40 Net charges to bad debt expense 95 48 Write-offs (46 ) (44 ) Balance, end of year $ 93 $ 44 As of December 31, 2020, one 18% December 31, 2019, two 26% Inventories Inventories consist of raw materials and finished goods and are stated at the lower of cost or net realizable value and include adjustments for estimated obsolete or excess inventory. Cost is based on actual cost on a first first twelve may $5,000 $9,000 December 31, 2020 2019, Fixed assets Fixed assets are recorded at cost less accumulated depreciation and are depreciated on the declining balance basis over the estimated useful lives of the assets as follows: Asset Rate Equipment 20% to 30% Vehicles and office and computer equipment 30% Impairment of long-lived assets Long-lived assets, which include fixed assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not Foreign currency translation The functional currency of our Canadian subsidiary is the Canadian dollar. We translate assets and liabilities related to these operations to U.S. dollars at the exchange rate in effect at the date of the consolidated balance sheet; we convert revenues and expenses into U.S. dollars using the average monthly exchange rates. Translation gains and losses are reported as a separate component of accumulated other comprehensive income. Transaction gains and losses arising from the transactions denominated in a currency other than the functional currency are included in other expense, net in the accompanying consolidated statement of operations. Net transaction gains were $22,000 $4,000 2020 2019, Revenue recognition The Company recognizes revenue under Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers 606” five five Step 1: Step 2: Step 3: Step 4: Step 5: See Note 11, Because the Company's agreements have an expected duration of one 606 10 50 14 not The Company's performance obligations are satisfied at the point in time when products are received by the customer, which is when the customer has title and the significant risks and rewards of ownership. Therefore, the Company's contracts have a single performance obligation (delivery of product). The Company primarily receives fixed consideration for sales of product, subject to adjustment as described below. Shipping and handling amounts paid by customers are primarily for online orders, and are included in revenue, and totaled $70,000 $71,000 December 31, 2020 2019, Revenue is recorded net of provisions for discounts, slotting fees payable by us to retailers to stock our products and promotion allowances. Discounts, slotting fees and promotional allowances vary the consideration the Company is entitled to in exchange for the sale of products to distributors. The Company estimates these discounts, slotting fees and promotional allowances in the same period that the revenue is recognized for product sales to customers. These estimates are based on contract terms and our historical experience with similar programs and require management judgement with respect to estimating customer participation and performance levels. Differences between estimated expense and actual costs are normally insignificant and are recognized in earnings in the period such differences are determined. The amount of revenue recognized represents the amount that will not December 31, 2020 2019, $1.6 $1.7 All sales to distributors and customers are generally final. In limited instances we may not 30 2% 15 Advertising costs Advertising costs, which also include promotions and sponsorships, are expensed as incurred. During the years ended December 31, 2020 2019, $557,000 $518,000, Income taxes We account for income taxes by recognizing the amount of taxes payable for the current year and deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We perform periodic evaluations of recorded tax assets and liabilities and maintain a valuation allowance, if considered necessary based on whether they are more likely than not No December 31, 2020 2019. Net loss per share Basic net loss per share is computed using the weighted average number of common shares outstanding during the periods. Diluted earnings per share is computed by adjusting the weighted average number of common shares by the effective net exercise or conversion of all dilutive securities. Due to the net loss in 2020 2019, 3,589,783 3,495,601, 5,372,440 5,095,308, zero 149,824, zero 15,000,000 December 31, 2020 2019, Comprehensive loss Comprehensive loss is comprised of net loss and translation adjustments. We do not Seasonality Our sales are seasonal and we experience fluctuations in quarterly results as a result of many factors. We historically have generated a greater percentage of our revenues during the warm weather months of April September. may may not not Deferred financing costs We defer costs related to the issuance of debt which are included on the accompanying balance sheets as a deduction from the debt liability. Deferred financing costs are amortized over the term of the related loan and are included as a component of interest expense on the accompanying consolidated statements of operations. Recent accounting guidance In August, 2020, 2020 06, December 15, 2023, 2020 06 In June 2016, 2016 13, 2016 13” first 2023 2016 13 |
Note 2 - Inventory
Note 2 - Inventory | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 2. Inventory Inventory consisted of the following as of December 31 ( December 31, 2020 December 31, 2019 Finished goods $ 1,142 $ 1,120 Raw materials 714 668 $ 1,856 $ 1,788 Finished goods primarily include product ready for shipment, as well as promotional merchandise held for sale. Raw materials primarily include ingredients, concentrate and packaging. |
Note 3 - Fixed Assets
Note 3 - Fixed Assets | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 3. Fixed Assets Fixed assets consisted of the following as of December 31 ( 2020 2019 Vehicles $ 525 $ 367 Leasehold improvements and equipment 146 154 Office and computer equipment 188 125 859 646 Accumulated depreciation (554 ) (484 ) $ 305 $ 162 |
Note 4 - Accrued Expenses
Note 4 - Accrued Expenses | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 4. Accrued Expenses Accrued expenses consisted of the following as of December 31 ( 2020 2019 Employee benefits $ 86 $ 87 Selling and marketing 187 257 Other accruals 580 319 $ 853 $ 663 |
Note 5 - Convertible Subordinat
Note 5 - Convertible Subordinated Notes Payable | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Convertible Subordinated Notes Payable [Text Block] | 5. Convertible Subordinated Notes Payable On March 23, 2018, April 18, 2018, $2,920,000 The Convertible Notes have a four 6% March 23, 2022, April 18, 2022. $0.32 $0.32 No The Convertible Notes are subordinated in right of payment to the prior payment in full of all of our Senior Indebtedness, which is defined as amounts due in connection with our indebtedness for borrowed money to banks, commercial finance lenders, or other lending institutions regularly engaged in the business of lending money, with certain restrictions. During 2020, no 2019, $1.4 4,868,079 $1,558,000, $262,000 2019. December 31, 2020. 13 The fair value of our common stock on the March 23, 2018, $0.36 $350,000. April 18, 2018, $0.30 not March 23, 2018 $137,000 $88,000 $141,000 December 31, 2020 2019, $120,000 December 31, 2020 2019. Principal payments are as follows for the years ending December 31 ( 2021 $ - 2022 1,474 $ 1,474 |
Note 6 - Lease Obligations
Note 6 - Lease Obligations | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 6. Lease Obligations We currently lease approximately 6,500 five February 2020, February 28, 2025. $556,000 4%. December 31, 2020, 4.17 During the years ended December 31, 2020 2019, $162,000 $133,000 December 31, 2020 2019, $158,000 $139,000, Management fees and other operational expenses were immaterial. Cash payments on our operating lease are presented as operating cash outflows in the consolidated statements of cash flows. Under the lease amendment, the annual payments excluding management fees and other operations expenses will be as follows (in thousands): 2021 $ 119 2022 122 2023 126 2024 130 2025 22 Total lease payments 519 Less: imputed interest (42 ) Total remaining lease liability $ 477 On January 1, 2019, 842: Leases twelve $124,000 $116,000, January 1, 2019. 842 not December 31, 2019. |
Note 7 - Shareholders' Equity
Note 7 - Shareholders' Equity | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 7. Shareholders Equity Under the terms of our 2011 may January 1st 1,300,000 4.0% may may not 10% January 1, 2021, 12,084,032 Under the terms of the Plan, the Board may may ten 48 first 25.0% one December 31, 2020, 6,972,192 (a) Stock options: A summary of our stock option activity is as follows: Outstanding Options Number of Shares Weighted Average Exercise Price Balance at January 1, 2020 3,495,601 $ 0.46 Options granted 1,329,450 0.21 Options cancelled/expired (1,235,268 ) 0.49 Balance at December 31, 2020 3,589,783 $ 0.36 Exercisable, December 31, 2020 2,544,290 $ 0.40 Vested and expected to vest 3,310,406 $ 0.37 The following table summarizes information about stock options outstanding and exercisable under our stock incentive plans at December 31, 2020: Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Number Exercisable Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price $0.15 to $0.50 3,310,033 6.88 $ 0.33 2,264,540 5.79 $ 0.36 $0.51 to $1.09 244,750 4.49 0.69 244,750 4.49 0.69 $1.10 to $2.99 35,000 0.33 1.23 35,000 0.33 1.23 3,589,783 6.66 0.36 2,544,290 5.59 0.40 (b) Restricted stock awards: Prior to December 31, 2019, one $15,000 first January one $15,000 first A summary of our restricted stock activity is as follows: Restricted Shares Weighted-Average Grant Date Fair Value Weighted-Average Contractual Life Non-vested restricted stock at January 1, 2020 149,824 $ 0.33 9.1 Vested (149,824 ) 0.33 — Non-vested restricted stock at December 31, 2020 — $ — — We withheld a total of 17,928 December 31, 2020, $0.31 Commencing as of January 1, 2020, first $25,000 first January first $25,000 first first (c) Stock-based compensation expense: Stock-based compensation expense is recognized using the straight-line attribution method over the employees' requisite service period. We recognize compensation expense for only the portion of stock options or restricted stock expected to vest. Therefore, we apply estimated forfeiture rates that are derived from historical employee termination behavior. If the actual number of forfeitures differs from those estimated by management, additional adjustments to stock-based compensation expense may At December 31, 2020, $76,000 2.8 The following table summarizes the stock-based compensation expense (in thousands): Year Ended December 31, 2020 2019 Type of awards: Stock options $ 162 $ 101 Restricted stock 12 40 $ 174 $ 141 Income statement account: Selling and marketing $ 65 $ 45 General and administrative 109 96 $ 174 $ 141 We employ the following key weighted-average assumptions in determining the fair value of stock options, using the Black-Scholes option pricing model and the simplified method to estimate the expected term of “plain vanilla” options: Year Ended December 31, 2020 2019 Expected dividend yield — — Expected stock price volatility 72.9 % 67.0 % Risk-free interest rate 0.8 % 2.2 % Expected term (in years) 5.6 6.0 Weighted-average grant date fair-value $ 0.13 $ 0.20 During the year ended December 31, 2020, no The aggregate intrinsic value of stock options outstanding at December 31, 2020 2019 $51,000 $9,000, $20,000 $6,000, December 31, 2020 2019 zero $21,000, December 31, 2020 2019, zero 70,445 (d) Equity financing: On July 11, 2019, 15,000,000 15,000,000 $9,000,000 July 11, 2019, $183,000. July 11, 2020 The relative fair value of the net proceeds allocated to the common stock was estimated to be $6,782,000. $2,035,000 $0.517 108.21%; 1 1.97%; 0% 1 (e) Services and Endorsement Agreement: On July 27, 2020, June 1, 2020 January 31, 2021. $25,000 $25,000 138,888 138,888 277,776 |
Note 8 - Employee 401(k) Plan
Note 8 - Employee 401(k) Plan | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | 8. Employee 401 We have a 401 one three may 100% 401 not not 401 December 31, 2020 2019. |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 9. Commitments and Contingencies Commitments As of December 31, 2020, $367,000 2021, no Legal proceedings We are or may not |
Note 10 - Income Taxes
Note 10 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 10. Income Taxes The provision for income taxes consisted of the following for the years ended December 31 ( 2020 2019 Current State $ 6 $ 5 Foreign 21 24 Provision for income taxes $ 27 $ 29 Loss before provision for income taxes was as follows for the years ended December 31 ( 2020 2019 United States $ (3,054 ) $ (2,833 ) Foreign 84 84 Total $ (2,970 ) $ (2,749 ) The items accounting for the difference between income taxes computed at the federal statutory rate and the provision for income taxes are as follows: 2020 2019 Federal statutory rate 21.00 % 21.00 % Effect of: Permanent differences (0.07 ) (1.11 ) Stock Compensation (3.61 ) (1.26 ) State income taxes, net of federal benefit 2.26 2.52 Change in valuation allowance (17.85 ) (23.21 ) Other, net (2.64 ) 1.06 Provision for income taxes (0.91 )% (1.00 )% Deferred income taxes reflect the tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred income taxes were as follows (in thousands): 2020 2019 Federal and state net operating loss carryforwards $ 14,721 $ 14,104 Stock-based compensation 179 272 Other, net 93 87 Total deferred tax asset 14,993 14,463 Valuation allowance (14,993 ) (14,463 ) Net deferred tax asset $ — $ — We continue to experience significant losses in our U.S. operations that are material to our decision to maintain a full valuation allowance against our net U.S. deferred tax assets. This is due to the fact that the relevant accounting guidance puts more weight on the negative objective evidence of cumulative losses in recent years than the positive subjective evidence of future projections of pretax income. For the years ended December 31, 2020 December 31, 2019, $530,000 $592,000, We continually analyze the realizability of our deferred tax assets, but we reasonably expect to continue to record a full valuation allowance on future U.S tax benefits until we sustain an appropriate level of taxable income through improved U.S. operations and tax planning strategies. At December 31, 2020, $57.5 2021. $7.6 may may 382 There are no December 31, 2020 2019. The tax years that remain open to examination by the taxing authorities are 2016 2020, On March 27, 2020 no December 31, 2020. |
Note 11 - Segment Information
Note 11 - Segment Information | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 11. Segment Information We have one December 31 Year Ended December 31, 2020 2019 Revenue: United States $ 8,442 $ 8,680 Canada 3,329 2,768 Other countries 124 60 Total revenue $ 11,895 $ 11,508 Fixed assets: United States $ 305 $ 162 Canada — — Total fixed assets $ 305 $ 162 During the year ended December 31, 2020, one 24% December 31, 2019 three 43% |
Note 12 - Paycheck Protection P
Note 12 - Paycheck Protection Program | 12 Months Ended |
Dec. 31, 2020 | |
Paycheck Protection Program CARES Act [Member] | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 12. Paycheck Protection Program On April 24, 2020, $334,500 2.5 April 24, 2020 ( two 1.0% No 10 first 10 August 1, 2021. Under the terms of the CARES Act, the principal and accrued interest under the Note is forgivable after 24 not $19,000 In addition to the PPP Loan previously discussed, the CARES Act, among other things, includes provisions related to refundable payroll tax credits, deferment of employer side social security payments, net operating loss carryback periods, alternative minimum tax credit refunds, modifications to the net interest deduction limitations, increased limitations on qualified charitable contributions, and technical corrections to tax depreciation methods for qualified improvement property. We continue to examine the impacts and benefits that the CARES Act may |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 13. Subsequent Events Subsequent to December 31, 2020, $650,000 2,385,058 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of presentation and consolidation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP) and the Securities and Exchange Commission (SEC) rules and regulations applicable to financial reporting. The consolidated financial statements include our accounts and accounts of our wholly owned subsidiaries. All intercompany transactions between us and our subsidiaries have been eliminated in consolidation. |
Going Concern [Policy Text Block] | Liquidity As of December 31, 2020 2019, $4.6 $6.0 $5.8 $8.4 2020 2019 $1.5 $3.3 The Company has experienced recurring losses from operations and negative cash flows from operating activities. This situation creates uncertainties about the Company's ability to execute its business plan, finance operations, and indicates substantial doubt about the Company's ability to continue as a going concern. We continue to experience negative cash flows from operations, as well as an ongoing requirement for additional capital to support working capital needs. Therefore, currently, based upon our near-term anticipated level of operations and expenditures, management believes that cash on hand, is not 12 not We may may 19 may may may may not may may not may may may not not one |
Use of Estimates, Policy [Policy Text Block] | Use of estimates The preparation of the consolidated financial statements requires management to make a number of estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Significant items subject to such estimates and assumptions include, but are not |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and cash equivalents We consider all highly liquid short-term investments with an original or remaining maturity of three |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair value of financial instruments Applicable accounting standards define fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date (an exit price). We measure our assets and liabilities using inputs from the following three 1 2 not 3 The carrying amounts for cash and cash equivalents, receivables, and payables approximate fair value due to the short-term maturity of these instruments. During the first 2018, $2,920,000 $1,483,000 $1,437,000 December 31, 2020 2019, 2 |
Accounts Receivable [Policy Text Block] | Accounts receivable Our accounts receivable balance primarily includes balances from trade sales to distributors and retail customers. The allowance for doubtful accounts is our best estimate of the amount of probable credit losses in our existing accounts receivable. We determine the allowance for doubtful accounts based primarily on historical write-off experience. Account balances that are deemed uncollectible, are charged off against the allowance after all means of collection have been exhausted and the potential for recovery is considered remote. Allowances for doubtful accounts of approximately $93,000 $44,000 December 31, 2020 2019, Activity in the allowance for doubtful accounts consists of the following for the years ended December 31 ( 2020 2019 Balance, beginning of year $ 44 $ 40 Net charges to bad debt expense 95 48 Write-offs (46 ) (44 ) Balance, end of year $ 93 $ 44 As of December 31, 2020, one 18% December 31, 2019, two 26% |
Inventory, Policy [Policy Text Block] | Inventories Inventories consist of raw materials and finished goods and are stated at the lower of cost or net realizable value and include adjustments for estimated obsolete or excess inventory. Cost is based on actual cost on a first first twelve may $5,000 $9,000 December 31, 2020 2019, |
Property, Plant and Equipment, Policy [Policy Text Block] | Fixed assets Fixed assets are recorded at cost less accumulated depreciation and are depreciated on the declining balance basis over the estimated useful lives of the assets as follows: Asset Rate Equipment 20% to 30% Vehicles and office and computer equipment 30% |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Impairment of long-lived assets Long-lived assets, which include fixed assets, are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign currency translation The functional currency of our Canadian subsidiary is the Canadian dollar. We translate assets and liabilities related to these operations to U.S. dollars at the exchange rate in effect at the date of the consolidated balance sheet; we convert revenues and expenses into U.S. dollars using the average monthly exchange rates. Translation gains and losses are reported as a separate component of accumulated other comprehensive income. Transaction gains and losses arising from the transactions denominated in a currency other than the functional currency are included in other expense, net in the accompanying consolidated statement of operations. Net transaction gains were $22,000 $4,000 2020 2019, |
Revenue from Contract with Customer [Policy Text Block] | Revenue recognition The Company recognizes revenue under Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers 606” five five Step 1: Step 2: Step 3: Step 4: Step 5: See Note 11, Because the Company's agreements have an expected duration of one 606 10 50 14 not The Company's performance obligations are satisfied at the point in time when products are received by the customer, which is when the customer has title and the significant risks and rewards of ownership. Therefore, the Company's contracts have a single performance obligation (delivery of product). The Company primarily receives fixed consideration for sales of product, subject to adjustment as described below. Shipping and handling amounts paid by customers are primarily for online orders, and are included in revenue, and totaled $70,000 $71,000 December 31, 2020 2019, Revenue is recorded net of provisions for discounts, slotting fees payable by us to retailers to stock our products and promotion allowances. Discounts, slotting fees and promotional allowances vary the consideration the Company is entitled to in exchange for the sale of products to distributors. The Company estimates these discounts, slotting fees and promotional allowances in the same period that the revenue is recognized for product sales to customers. These estimates are based on contract terms and our historical experience with similar programs and require management judgement with respect to estimating customer participation and performance levels. Differences between estimated expense and actual costs are normally insignificant and are recognized in earnings in the period such differences are determined. The amount of revenue recognized represents the amount that will not December 31, 2020 2019, $1.6 $1.7 All sales to distributors and customers are generally final. In limited instances we may not 30 2% 15 |
Advertising Cost [Policy Text Block] | Advertising costs Advertising costs, which also include promotions and sponsorships, are expensed as incurred. During the years ended December 31, 2020 2019, $557,000 $518,000, |
Income Tax, Policy [Policy Text Block] | Income taxes We account for income taxes by recognizing the amount of taxes payable for the current year and deferred tax assets and liabilities for the expected future tax consequences of events that have been recognized in our financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. We perform periodic evaluations of recorded tax assets and liabilities and maintain a valuation allowance, if considered necessary based on whether they are more likely than not No December 31, 2020 2019. |
Earnings Per Share, Policy [Policy Text Block] | Net loss per share Basic net loss per share is computed using the weighted average number of common shares outstanding during the periods. Diluted earnings per share is computed by adjusting the weighted average number of common shares by the effective net exercise or conversion of all dilutive securities. Due to the net loss in 2020 2019, 3,589,783 3,495,601, 5,372,440 5,095,308, zero 149,824, zero 15,000,000 December 31, 2020 2019, |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive loss Comprehensive loss is comprised of net loss and translation adjustments. We do not |
Seasonal Nature of Business [Policy Text Block] | Seasonality Our sales are seasonal and we experience fluctuations in quarterly results as a result of many factors. We historically have generated a greater percentage of our revenues during the warm weather months of April September. may may not not |
Deferred Charges, Policy [Policy Text Block] | Deferred financing costs We defer costs related to the issuance of debt which are included on the accompanying balance sheets as a deduction from the debt liability. Deferred financing costs are amortized over the term of the related loan and are included as a component of interest expense on the accompanying consolidated statements of operations. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent accounting guidance In August, 2020, 2020 06, December 15, 2023, 2020 06 In June 2016, 2016 13, 2016 13” first 2023 2016 13 |
Note 1 - Nature of Operations_2
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Accounts Receivable, Allowance for Credit Loss [Table Text Block] | 2020 2019 Balance, beginning of year $ 44 $ 40 Net charges to bad debt expense 95 48 Write-offs (46 ) (44 ) Balance, end of year $ 93 $ 44 |
Schedule of Depreciation Rate of Property, Plant and Equipment [Table Text Block] | Asset Rate Equipment 20% to 30% Vehicles and office and computer equipment 30% |
Note 2 - Inventory (Tables)
Note 2 - Inventory (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2020 December 31, 2019 Finished goods $ 1,142 $ 1,120 Raw materials 714 668 $ 1,856 $ 1,788 |
Note 3 - Fixed Assets (Tables)
Note 3 - Fixed Assets (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2020 2019 Vehicles $ 525 $ 367 Leasehold improvements and equipment 146 154 Office and computer equipment 188 125 859 646 Accumulated depreciation (554 ) (484 ) $ 305 $ 162 |
Note 4 - Accrued Expenses (Tabl
Note 4 - Accrued Expenses (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | 2020 2019 Employee benefits $ 86 $ 87 Selling and marketing 187 257 Other accruals 580 319 $ 853 $ 663 |
Note 5 - Convertible Subordin_2
Note 5 - Convertible Subordinated Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2021 $ - 2022 1,474 $ 1,474 |
Note 6 - Lease Obligations (Tab
Note 6 - Lease Obligations (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2021 $ 119 2022 122 2023 126 2024 130 2025 22 Total lease payments 519 Less: imputed interest (42 ) Total remaining lease liability $ 477 |
Note 7 - Shareholders' Equity (
Note 7 - Shareholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Outstanding Options Number of Shares Weighted Average Exercise Price Balance at January 1, 2020 3,495,601 $ 0.46 Options granted 1,329,450 0.21 Options cancelled/expired (1,235,268 ) 0.49 Balance at December 31, 2020 3,589,783 $ 0.36 Exercisable, December 31, 2020 2,544,290 $ 0.40 Vested and expected to vest 3,310,406 $ 0.37 |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Outstanding and Exercisable [Table Text Block] | Number Outstanding Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price Number Exercisable Weighted Average Remaining Contractual Life (Years) Weighted Average Exercise Price $0.15 to $0.50 3,310,033 6.88 $ 0.33 2,264,540 5.79 $ 0.36 $0.51 to $1.09 244,750 4.49 0.69 244,750 4.49 0.69 $1.10 to $2.99 35,000 0.33 1.23 35,000 0.33 1.23 3,589,783 6.66 0.36 2,544,290 5.59 0.40 |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Restricted Shares Weighted-Average Grant Date Fair Value Weighted-Average Contractual Life Non-vested restricted stock at January 1, 2020 149,824 $ 0.33 9.1 Vested (149,824 ) 0.33 — Non-vested restricted stock at December 31, 2020 — $ — — |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year Ended December 31, 2020 2019 Type of awards: Stock options $ 162 $ 101 Restricted stock 12 40 $ 174 $ 141 Income statement account: Selling and marketing $ 65 $ 45 General and administrative 109 96 $ 174 $ 141 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2020 2019 Expected dividend yield — — Expected stock price volatility 72.9 % 67.0 % Risk-free interest rate 0.8 % 2.2 % Expected term (in years) 5.6 6.0 Weighted-average grant date fair-value $ 0.13 $ 0.20 |
Note 10 - Income Taxes (Tables)
Note 10 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2020 2019 Current State $ 6 $ 5 Foreign 21 24 Provision for income taxes $ 27 $ 29 |
Schedule of Income before Income Tax, Domestic and Foreign [Table Text Block] | 2020 2019 United States $ (3,054 ) $ (2,833 ) Foreign 84 84 Total $ (2,970 ) $ (2,749 ) |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2020 2019 Federal statutory rate 21.00 % 21.00 % Effect of: Permanent differences (0.07 ) (1.11 ) Stock Compensation (3.61 ) (1.26 ) State income taxes, net of federal benefit 2.26 2.52 Change in valuation allowance (17.85 ) (23.21 ) Other, net (2.64 ) 1.06 Provision for income taxes (0.91 )% (1.00 )% |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2020 2019 Federal and state net operating loss carryforwards $ 14,721 $ 14,104 Stock-based compensation 179 272 Other, net 93 87 Total deferred tax asset 14,993 14,463 Valuation allowance (14,993 ) (14,463 ) Net deferred tax asset $ — $ — |
Note 11 - Segment Information (
Note 11 - Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Year Ended December 31, 2020 2019 Revenue: United States $ 8,442 $ 8,680 Canada 3,329 2,768 Other countries 124 60 Total revenue $ 11,895 $ 11,508 Fixed assets: United States $ 305 $ 162 Canada — — Total fixed assets $ 305 $ 162 |
Note 1 - Nature of Operations_3
Note 1 - Nature of Operations and Summary of Significant Accounting Policies (Details Textual) | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018USD ($) | Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | |
Number of Operating Subsidiaries | 2 | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 4,614,000 | $ 5,969,000 | |
Working Capital (Deficit) | 5,800,000 | 8,400,000 | |
Net Cash Provided by (Used in) Operating Activities, Total | (1,532,000) | (3,344,000) | |
Accounts Receivable, Allowance for Credit Loss, Current | 93,000 | 44,000 | |
Production Related Impairments or Charges, Total | 5,000 | 9,000 | |
Foreign Currency Transaction Gain (Loss), Realized | 22,000 | 4,000 | |
Revenues, Total | 11,895,000 | 11,508,000 | |
Slotting Fees and Promotional Allowances | $ 1,600,000 | 1,700,000 | |
Maximum Discount for Customers, Payment Made Within 15 Days | 2.00% | ||
Advertising Expense | $ 557,000 | 518,000 | |
Liability for Uncertainty in Income Taxes, Current | $ 0 | $ 0 | |
Share-based Payment Arrangement, Option [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 3,589,783 | 3,495,601 | |
Convertible Debt Securities [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 5,372,440 | 5,095,308 | |
Restricted Stock Units (RSUs) [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 0 | 149,824 | |
Warrant [Member] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 0 | 15,000,000 | |
Shipping and Handling [Member] | |||
Revenues, Total | $ 70,000 | $ 71,000 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||
Number of Major Customers | 1 | 2 | |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | One Customer [Member] | |||
Concentration Risk, Percentage | 18.00% | ||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Two Customers [Member] | |||
Concentration Risk, Percentage | 26.00% | ||
Convertible Notes [Member] | |||
Proceeds from Convertible Debt | $ 2,920,000 | ||
Notes Payable, Fair Value Disclosure | $ 1,483,000 | $ 1,437,000 |
Note 1 - Nature of Operations_4
Note 1 - Nature of Operations and Summary of Significant Accounting Policies - Activity in the Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Balance, beginning of year | $ 44 | $ 40 |
Net charges to bad debt expense | 95 | 48 |
Write-offs | (46) | (44) |
Balance, end of year | $ 93 | $ 44 |
Note 1 - Nature of Operations_5
Note 1 - Nature of Operations and Summary of Significant Accounting Policies - Depreciation on Fixed Assets (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Equipment [Member] | Minimum [Member] | |
Depreciation rate | 20.00% |
Equipment [Member] | Maximum [Member] | |
Depreciation rate | 30.00% |
Vehicles and Office and Computer Equipment [Member] | |
Depreciation rate | 30.00% |
Note 2 - Inventory - Inventory
Note 2 - Inventory - Inventory (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Finished goods | $ 1,142 | $ 1,120 |
Raw materials | 714 | 668 |
Inventory, Net, Total | $ 1,856 | $ 1,788 |
Note 3 - Fixed Assets - Fixed A
Note 3 - Fixed Assets - Fixed Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Property, plant and equipment, gross | $ 859 | $ 646 |
Accumulated depreciation | (554) | (484) |
Property, Plant and Equipment, Net, Ending Balance | 305 | 162 |
Vehicles [Member] | ||
Property, plant and equipment, gross | 525 | 367 |
Leasehold Improvements and Equipment [Member] | ||
Property, plant and equipment, gross | 146 | 154 |
Office and Computer Equipment [Member] | ||
Property, plant and equipment, gross | $ 188 | $ 125 |
Note 4 - Accrued Expenses - Acc
Note 4 - Accrued Expenses - Accrued Expenses (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Employee benefits | $ 86 | $ 87 |
Selling and marketing | 187 | 257 |
Other accruals | 580 | 319 |
Accrued Liabilities, Current, Total | $ 853 | $ 663 |
Note 5 - Convertible Subordin_3
Note 5 - Convertible Subordinated Notes Payable (Details Textual) - USD ($) | Apr. 18, 2018 | Mar. 23, 2018 | Dec. 31, 2020 | Dec. 31, 2019 |
Debt Conversion, Original Debt, Amount | $ 1,558,000 | |||
Stock Issued During Period, Value, Conversion of Convertible Securities | 1,558,000 | |||
Share Price (in dollars per share) | $ 0.30 | $ 0.36 | ||
Notes Payable, Related Parties | 120,000 | 120,000 | ||
Conversion of Convertible Notes into Common Stock [Member] | ||||
Debt Conversion, Original Debt, Amount | 0 | $ 1,400,000 | ||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 4,868,079 | |||
Convertible Notes [Member] | ||||
Convertible Subordinated Debt, Total | $ 2,920,000 | |||
Debt Instrument, Term (Year) | 4 years | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 0.32 | |||
Interest Expense, Debt, Total | $ 262,000 | |||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 350,000 | |||
Debt Issuance Costs, Gross | $ 137,000 | |||
Debt Instrument, Unamortized Discount (Premium), Net, Total | $ 88,000 | $ 141,000 |
Note 5 - Convertible Subordin_4
Note 5 - Convertible Subordinated Notes - Principal Payments (Details) - Convertible Notes [Member] $ in Thousands | Dec. 31, 2020USD ($) |
2021 | |
2022 | 1,474 |
Long-term Debt, Total | $ 1,474 |
Note 6 - Lease Obligations (Det
Note 6 - Lease Obligations (Details Textual) | 12 Months Ended | |||
Dec. 31, 2020USD ($)ft² | Dec. 31, 2019USD ($) | Feb. 28, 2020USD ($) | Jan. 01, 2019USD ($) | |
Operating Lease, Right-of-Use Asset | $ 471,000 | $ 17,000 | ||
Operating Lease, Expense | 162,000 | 133,000 | ||
Operating Lease, Payments | 158,000 | $ 139,000 | ||
Operating Lease, Liability, Total | $ 477,000 | |||
Accounting Standards Update 2016-02 [Member] | ||||
Operating Lease, Right-of-Use Asset | $ 116,000 | |||
Operating Lease, Liability, Total | $ 124,000 | |||
Retail / Office Space in Seattle, Washington [Member] | ||||
Area of Real Estate Property (Square Foot) | ft² | 6,500 | |||
Lessee, Operating Lease, Term of Contract (Year) | 5 years | |||
Operating Lease, Right-of-Use Asset | $ 556,000 | |||
Lessee, Operating Lease, Discount Rate | 4.00% | |||
Operating Lease, Weighted Average Remaining Lease Term (Year) | 4 years 62 days | |||
Operating Lease, Liability, Total | $ 556,000 |
Note 6 - Lease Obligations - An
Note 6 - Lease Obligations - Annual Payments Excluding Management Fees and Other Operations Expenses (Details) $ in Thousands | Dec. 31, 2020USD ($) |
2021 | $ 119 |
2022 | 122 |
2023 | 126 |
2024 | 130 |
2025 | 22 |
Total lease payments | 519 |
Less: imputed interest | (42) |
Total remaining lease liability | $ 477 |
Note 7 - Shareholders' Equity_2
Note 7 - Shareholders' Equity (Details Textual) | Jul. 27, 2020USD ($)shares | Jan. 01, 2020USD ($) | Jul. 11, 2019USD ($)shares | Jan. 01, 2018USD ($) | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($)shares | Jan. 01, 2021shares |
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Period Increase (Decrease), Total (in shares) | shares | 0 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value | $ 51,000 | $ 9,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value | 20,000 | 6,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period, Intrinsic Value | $ 0 | $ 21,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | shares | 0 | 70,445 | |||||
Proceeds from Issuance of Private Placement | $ 9,000,000 | $ 8,817,000 | |||||
Payments of Stock Issuance Costs | $ 183,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 8,817,000 | ||||||
Tony Hawk, Inc. [Member] | |||||||
Stock Issued During Period, Value, Issued for Services | $ 25,000 | ||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | shares | 138,888 | ||||||
The Skatepark Project [Member] | |||||||
Stock Issued During Period, Value, Issued for Services | $ 25,000 | ||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | shares | 138,888 | ||||||
Tony Hawk, Inc and The Skatepark Project [Member] | |||||||
Stock Issued During Period, Shares, Issued for Services (in shares) | shares | 277,776 | ||||||
Warrant Issued in Connection with Private Placement [Member] | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 15,000,000 | ||||||
Warrants and Rights Outstanding | $ 2,035,000 | ||||||
Warrant Issued in Connection with Private Placement [Member] | Measurement Input, Share Price [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 0.517 | ||||||
Warrant Issued in Connection with Private Placement [Member] | Measurement Input, Price Volatility [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 1.0821 | ||||||
Warrant Issued in Connection with Private Placement [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 0.0197 | ||||||
Warrant Issued in Connection with Private Placement [Member] | Measurement Input, Expected Dividend Rate [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 0 | ||||||
Warrant Issued in Connection with Private Placement [Member] | Measurement Input, Expected Term [Member] | |||||||
Warrants and Rights Outstanding, Measurement Input | 1 | ||||||
Private Placement [Member] | |||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 15,000,000 | ||||||
Stock Issued During Period, Value, New Issues | $ 6,782,000 | ||||||
Restricted Stock Units (RSUs) [Member] | Non-employee Directors [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 1 year | 1 year | |||||
Share-based Payment Arrangement, Expensed and Capitalized, Amount, Total | $ 25,000 | $ 15,000 | |||||
Restricted Stock [Member] | |||||||
Share-based Payment Arrangement, Shares Withheld for Tax Withholding Obligation (in shares) | shares | 17,928 | ||||||
Average Price Paid Per Share, Shares Withheld For Tax Purposes (in dollars per share) | $ / shares | $ 0.31 | ||||||
Stock Options and Non-vested Stock [Member] | |||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 76,000 | ||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 2 years 292 days | ||||||
The 2011 Incentive Plan [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Additional Shares Authorized (in shares) | shares | 1,300,000 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Additional Shares Authorized, Percentage of Outstanding Stock | 4.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Percentage of Outstanding Stock Maximum | 10.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | shares | 6,972,192 | ||||||
The 2011 Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 4 years | ||||||
The 2011 Incentive Plan [Member] | Share-based Payment Arrangement, Option [Member] | Cliff Vesting [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Month) | 1 year | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | ||||||
The 2011 Incentive Plan [Member] | Subsequent Event [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | shares | 12,084,032 |
Note 7 - Shareholders' Equity -
Note 7 - Shareholders' Equity - Summary of Stock Option Activity (Details) | 12 Months Ended |
Dec. 31, 2020$ / sharesshares | |
Balance, number of shares (in shares) | shares | 3,495,601 |
Balance, weighted average exercise price (in dollars per share) | $ / shares | $ 0.46 |
Options granted, number of shares (in shares) | shares | 1,329,450 |
Options granted, weighted average exercise price (in dollars per share) | $ / shares | $ 0.21 |
Options cancelled/expired, number of shares (in shares) | shares | (1,235,268) |
Options cancelled/expired, weighted average exercise price (in dollars per share) | $ / shares | $ 0.49 |
Balance, number of shares (in shares) | shares | 3,589,783 |
Balance, weighted average exercise price (in dollars per share) | $ / shares | $ 0.36 |
Exercisable, number of shares (in shares) | shares | 2,544,290 |
Exercisable, weighted average exercise price (in dollars per share) | $ / shares | $ 0.40 |
Vested and expected to vest, number of shares (in shares) | shares | 3,310,406 |
Vested and expected to vest, weighted average exercise price (in dollars per share) | $ / shares | $ 0.37 |
Note 7 - Shareholders' Equity_3
Note 7 - Shareholders' Equity - Stock Options Outstanding and Exercisable (Details) | 12 Months Ended |
Dec. 31, 2020$ / sharesshares | |
Number outstanding (in shares) | shares | 3,589,783 |
Options outstanding, weighted average remaining contractual life (Year) | 6 years 240 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.36 |
Number exercisable (in shares) | shares | 2,544,290 |
Options exercisable, weighted average remaining contractual life (Year) | 5 years 215 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.40 |
Range One [Member] | |
Exercise price, lower limit (in dollars per share) | 0.15 |
Exercise price, upper limit (in dollars per share) | $ 0.50 |
Number outstanding (in shares) | shares | 3,310,033 |
Options outstanding, weighted average remaining contractual life (Year) | 6 years 321 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.33 |
Number exercisable (in shares) | shares | 2,264,540 |
Options exercisable, weighted average remaining contractual life (Year) | 5 years 288 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.36 |
Range Two [Member] | |
Exercise price, lower limit (in dollars per share) | 0.51 |
Exercise price, upper limit (in dollars per share) | $ 1.09 |
Number outstanding (in shares) | shares | 244,750 |
Options outstanding, weighted average remaining contractual life (Year) | 4 years 178 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 0.69 |
Number exercisable (in shares) | shares | 244,750 |
Options exercisable, weighted average remaining contractual life (Year) | 4 years 178 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 0.69 |
Range Three [Member] | |
Exercise price, lower limit (in dollars per share) | 1.10 |
Exercise price, upper limit (in dollars per share) | $ 2.99 |
Number outstanding (in shares) | shares | 35,000 |
Options outstanding, weighted average remaining contractual life (Year) | 120 days |
Options outstanding, weighted average exercise price (in dollars per share) | $ 1.23 |
Number exercisable (in shares) | shares | 35,000 |
Options exercisable, weighted average remaining contractual life (Year) | 120 days |
Options exercisable, weighted average exercise price (in dollars per share) | $ 1.23 |
Note 7 - Shareholders' Equity_4
Note 7 - Shareholders' Equity - Summary of Restricted Stock Activity (Details) - Restricted Stock [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Non-vested restricted stock (in shares) | 149,824 | |
Non-vested restricted stock, weighted-average grant date fair value (in dollars per share) | $ 0.33 | |
Non-vested restricted stock, weighted-average contractual life (Year) | 9 years 36 days | |
Vested (in shares) | (149,824) | |
Vested, weighted-average grant date fair value (in dollars per share) | $ 0.33 | |
Non-vested restricted stock (in shares) | 149,824 | |
Non-vested restricted stock, weighted-average grant date fair value (in dollars per share) | $ 0.33 |
Note 7 - Shareholders' Equity_5
Note 7 - Shareholders' Equity - Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Stock-based compensation expense | $ 174 | $ 141 |
Selling and Marketing Expense [Member] | ||
Stock-based compensation expense | 65 | 45 |
General and Administrative Expense [Member] | ||
Stock-based compensation expense | 109 | 96 |
Share-based Payment Arrangement, Option [Member] | ||
Stock-based compensation expense | 162 | 101 |
Restricted Stock [Member] | ||
Stock-based compensation expense | $ 12 | $ 40 |
Note 7 - Shareholders' Equity_6
Note 7 - Shareholders' Equity - Weighted-average Assumptions (Details) - Share-based Payment Arrangement, Option [Member] - $ / shares | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Expected dividend yield | ||
Expected stock price volatility | 72.90% | 67.00% |
Risk-free interest rate | 0.80% | 2.20% |
Expected term (in years) (Year) | 5 years 219 days | 6 years |
Weighted-average grant date fair-value (in dollars per share) | $ 0.13 | $ 0.20 |
Note 8 - Employee 401(k) Plan (
Note 8 - Employee 401(k) Plan (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% | |
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 0 | $ 0 |
Note 9 - Commitments and Cont_2
Note 9 - Commitments and Contingencies (Details Textual) | Dec. 31, 2020USD ($) |
Recorded Unconditional Purchase Obligation, to be Paid, Year One | $ 367,000 |
Recorded Unconditional Purchase Obligation, to be Paid, Year Two | $ 0 |
Note 10 - Income Taxes (Details
Note 10 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | $ 530,000 | $ 592,000 |
Liability for Uncertainty in Income Taxes, Current | $ 0 | $ 0 |
Open Tax Year | 2016 2017 2018 2019 2020 | |
Internal Revenue Service (IRS) [Member] | Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Subject to Expiration | $ 57,500,000 | |
Operating Loss Carryforwards, Not Subject to Expiration | $ 7,600,000 |
Note 10 - Income Taxes - Provis
Note 10 - Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
State | $ 6 | $ 5 |
Foreign | 21 | 24 |
Provision for income taxes | $ 27 | $ 29 |
Note 10 - Income Taxes - Loss B
Note 10 - Income Taxes - Loss Before Provision for Income Taxes (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
United States | $ (3,054) | $ (2,833) |
Foreign | 84 | 84 |
Total | $ (2,970) | $ (2,749) |
Note 10 - Income Taxes - Income
Note 10 - Income Taxes - Income Tax Rate Reconciliation (Details) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Federal statutory rate | 21.00% | 21.00% |
Permanent differences | (0.07%) | (1.11%) |
Stock Compensation | (3.61%) | (1.26%) |
State income taxes, net of federal benefit | 2.26% | 2.52% |
Change in valuation allowance | (17.85%) | (23.21%) |
Other, net | (2.64%) | 1.06% |
Provision for income taxes | (0.91%) | (1.00%) |
Note 10 - Income Taxes - Compon
Note 10 - Income Taxes - Components of Deferred Income Taxes (Details) - USD ($) $ in Thousands | Dec. 31, 2020 | Dec. 31, 2019 |
Federal and state net operating loss carryforwards | $ 14,721 | $ 14,104 |
Stock-based compensation | 179 | 272 |
Other, net | 93 | 87 |
Total deferred tax asset | 14,993 | 14,463 |
Valuation allowance | (14,993) | (14,463) |
Net deferred tax asset |
Note 11 - Segment Information_2
Note 11 - Segment Information (Details Textual) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Number of Operating Segments | 1 | |
Customer Concentration Risk [Member] | Revenue from Contract with Customer Benchmark [Member] | ||
Number of Major Customers | 1 | 3 |
Customer Concentration Risk [Member] | Revenue from Contract with Customer Benchmark [Member] | One Customer [Member] | ||
Concentration Risk, Percentage | 24.00% | |
Customer Concentration Risk [Member] | Revenue from Contract with Customer Benchmark [Member] | Three Customers [Member] | ||
Concentration Risk, Percentage | 43.00% |
Note 11 - Segment Information -
Note 11 - Segment Information - Geographic Information (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenue | $ 11,895 | $ 11,508 |
Fixed assets | 305 | 162 |
UNITED STATES | ||
Revenue | 8,442 | 8,680 |
Fixed assets | 305 | 162 |
CANADA | ||
Revenue | 3,329 | 2,768 |
Fixed assets | ||
Other Countries [Member] | ||
Revenue | $ 124 | $ 60 |
Note 12 - Paycheck Protection_2
Note 12 - Paycheck Protection Program (Details Textual) - USD ($) | Apr. 24, 2020 | Dec. 31, 2020 | Dec. 31, 2019 |
Proceeds from Notes Payable, Total | $ 335,000 | ||
Paycheck Protection Program CARES Act [Member] | |||
Proceeds from Notes Payable, Total | $ 334,500 | ||
Debt Instrument, Periodic Payment, Total | $ 19,000 |
Note 13 - Subsequent Events (De
Note 13 - Subsequent Events (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 24, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Debt Conversion, Original Debt, Amount | $ 1,558,000 | ||
Conversion of Convertible Notes into Common Stock [Member] | |||
Debt Conversion, Original Debt, Amount | $ 0 | $ 1,400,000 | |
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 4,868,079 | ||
Subsequent Event [Member] | Conversion of Convertible Notes into Common Stock [Member] | |||
Debt Conversion, Original Debt, Amount | $ 650,000 | ||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 2,385,058 |