Document and Entity Information
Document and Entity Information - shares | 9 Months Ended | |
Oct. 30, 2021 | Dec. 14, 2021 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Period End Date | Oct. 30, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Entity Registrant Name | Simply, Inc. | |
Title of 12(b) Security | Common Stock, par value $0.001 per share | |
Trading Symbol | SIMP | |
Security Exchange Name | NONE | |
Entity Central Index Key | 0001274032 | |
Current Fiscal Year End Date | --01-29 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Common Stock, Shares Outstanding | 12,458,992 | |
Entity Shell Company | false | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity File Number | 001-32217 | |
Entity Incorporation, State or Country Code | MD | |
Entity Tax Identification Number | 33-0599368 | |
Entity Address, Address Line One | 1680 Michigan Avenue, Suite 817 | |
Entity Address, City or Town | Miami Beach | |
Entity Address, State or Province | FL | |
Entity Address, Postal Zip Code | 33139 | |
City Area Code | 786 | |
Local Phone Number | 254-6709 | |
Document Quarterly Report | true | |
Document Transition Report | false |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (unaudited) - USD ($) shares in Thousands, $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 30, 2021 | Oct. 31, 2020 | Oct. 30, 2021 | Oct. 31, 2020 | |
Income Statement [Abstract] | ||||
Net sales | $ 19,303 | $ 16,923 | $ 56,626 | $ 48,516 |
Cost of sales | 15,197 | 12,078 | 43,241 | 34,647 |
Gross profit | 4,106 | 4,845 | 13,385 | 13,869 |
Selling, general and administrative expenses | 7,334 | 6,473 | 20,986 | 20,050 |
Operating loss | (3,228) | (1,628) | (7,601) | (6,181) |
Other income (expense): | ||||
Interest expense | (821) | (35) | (1,001) | (995) |
Decrease in fair value of derivative liability | 543 | |||
Gain on extinguishment of debt | 3,139 | 3,139 | 13,642 | |
Other income, net | 19 | 175 | 843 | 117 |
Income (loss) from continuing operations before provision for income taxes | (891) | (1,488) | (4,620) | 7,126 |
Provision for income taxes | 10 | 30 | 27 | |
Income (loss) from continuing operations | (891) | (1,498) | (4,650) | 7,099 |
Income (loss) from discontinued operations | 51 | (185) | ||
Net income (loss) | $ (891) | $ (1,447) | $ (4,650) | $ 6,914 |
Basic income (loss) per share: | ||||
Continuing operations | $ (0.07) | $ (0.14) | $ (0.39) | $ 0.75 |
Discontinued operations | 0.01 | (0.02) | ||
Total | (0.07) | (0.13) | (0.39) | 0.73 |
Diluted income (loss) per share: | ||||
Continuing operations | (0.07) | (0.14) | (0.39) | 0.72 |
Discontinued operations | 0.01 | (0.02) | ||
Total | $ (0.07) | $ (0.13) | $ (0.39) | $ 0.70 |
Weighted-average number of common shares outstanding: | ||||
Basic | 12,073 | 11,013 | 11,788 | 9,497 |
Diluted | 12,073 | 11,013 | 11,788 | 9,811 |
Comprehensive income (loss): | ||||
Net income (loss) | $ (891) | $ (1,447) | $ (4,650) | $ 6,914 |
Foreign currency translation adjustments | 9 | (20) | 1 | 40 |
Comprehensive income (loss) | $ (882) | $ (1,467) | $ (4,649) | $ 6,954 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Oct. 30, 2021 | Jan. 30, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,735,000 | $ 1,536,000 |
Restricted cash | 1,310,000 | 1,310,000 |
Trade accounts receivable, net of allowance for doubtful accounts of $0 and $6, respectively | 201,000 | 226,000 |
Other accounts receivable | 1,120,000 | 1,180,000 |
Inventory | 8,070,000 | 6,750,000 |
Prepaid assets | 641,000 | 386,000 |
Current assets of discontinued operations | 9,000 | 9,000 |
Total current assets | 13,086,000 | 11,397,000 |
Property and equipment, net | 3,159,000 | 1,301,000 |
Operating lease right-of-use assets | 10,978,000 | 9,121,000 |
Intangibles, net | 1,815,000 | 1,913,000 |
Goodwill | 699,000 | 699,000 |
Other assets | 339,000 | 292,000 |
Total assets | 30,076,000 | 24,723,000 |
Current liabilities: | ||
Accounts payable | 10,355,000 | 8,901,000 |
Accrued expenses and other current liabilities | 3,983,000 | 3,548,000 |
Current portion of operating lease liabilities | 2,192,000 | 2,717,000 |
Current portion of notes payable | 178,000 | 2,478,000 |
Note payable - related parties | 1,599,000 | 400,000 |
Current liabilities of discontinued operations | 867,000 | 868,000 |
Total current liabilities | 19,174,000 | 18,912,000 |
Long-term liabilities: | ||
Notes payable | 3,072,000 | 1,870,000 |
Operating lease liabilities | 9,758,000 | 6,736,000 |
Total liabilities | 32,004,000 | 27,518,000 |
Commitments and Contingencies | ||
Stockholders’ deficit: | ||
Preferred stock, $0.001 par value, 10,000 shares authorized; 2 shares issued and outstanding as of October 30, 2021 and January 30, 2021. | ||
Common stock, $0.001 par value, 150,000 shares authorized; 12,371 and 11,465 shares issued and outstanding as of October 30, 2021 and January 30, 2021, respectively. | 12,000 | 11,000 |
Additional paid-in capital common stock | 58,643,000 | 53,128,000 |
Accumulated other comprehensive loss | (14,000) | (15,000) |
Accumulated deficit | (60,569,000) | (55,919,000) |
Total stockholders’ deficit | (1,928,000) | (2,795,000) |
Total liabilities and stockholders’ deficit | $ 30,076,000 | $ 24,723,000 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands | Oct. 30, 2021 | Jan. 30, 2021 |
Statement Of Financial Position [Abstract] | ||
Trade accounts receivable, allowance for doubtful accounts | $ 0 | $ 6 |
Preferred stock, par value | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized | 10,000,000 | 10,000,000 |
Preferred stock, shares issued | 2,000 | 2,000 |
Preferred stock, shares outstanding | 2,000 | 2,000 |
Common stock, par value | $ 0.001 | $ 0.001 |
Common stock, shares authorized | 150,000,000 | 150,000,000 |
Common stock, shares issued | 12,371,000 | 11,465,000 |
Common stock, shares outstanding | 12,371,000 | 11,465,000 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) - USD ($) $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Other Comprehensive Income (Loss) [Member] | Accumulated Deficit [Member] |
Beginning Balance at Feb. 01, 2020 | $ (11,272) | $ 44 | $ 49,081 | $ (201) | $ (60,196) | |
Beginning Balance, shares at Feb. 01, 2020 | 2,000 | 4,378,000 | ||||
Stock-based compensation | 151 | $ 3 | 148 | |||
Stock-based compensation, shares | 300,000 | |||||
Debt exchange | 2,321 | $ 60 | 2,261 | |||
Debt exchange, shares | 5,969,000 | |||||
Elimination of other comprehensive loss from sale of foreign subsidiary | 164 | 164 | ||||
Foreign currency translation | 128 | 128 | ||||
Net income (loss) | 10,338 | 10,338 | ||||
Ending Balance at May. 02, 2020 | 1,830 | $ 107 | 51,490 | 91 | (49,858) | |
Ending Balance, shares at May. 02, 2020 | 2,000 | 10,647,000 | ||||
Beginning Balance at Feb. 01, 2020 | (11,272) | $ 44 | 49,081 | (201) | (60,196) | |
Beginning Balance, shares at Feb. 01, 2020 | 2,000 | 4,378,000 | ||||
Net income (loss) | 6,914 | |||||
Ending Balance at Oct. 31, 2020 | (1,032) | $ 110 | 52,137 | 3 | (53,282) | |
Ending Balance, shares at Oct. 31, 2020 | 2,000 | 11,009,000 | ||||
Beginning Balance at May. 02, 2020 | 1,830 | $ 107 | 51,490 | 91 | (49,858) | |
Beginning Balance, shares at May. 02, 2020 | 2,000 | 10,647,000 | ||||
Stock-based compensation | 498 | $ 3 | 495 | |||
Stock-based compensation, shares | 299,000 | |||||
Debt exchange | 133 | $ 1 | 132 | |||
Debt exchange, shares | 108,000 | |||||
Foreign currency translation | (68) | (68) | ||||
Net income (loss) | (1,977) | (1,977) | ||||
Ending Balance at Aug. 01, 2020 | 416 | $ 111 | 52,117 | 23 | (51,835) | |
Ending Balance, shares at Aug. 01, 2020 | 2,000 | 11,054,000 | ||||
Stock-based compensation | 24 | 24 | ||||
Issuance of shares in lieu of accrued severance | 23 | 23 | ||||
Issuance of shares in lieu of accrued severance, shares | 23,000 | |||||
Issuance of shares from reverse stock split in lieu of fractional shares | 2,000 | |||||
Repurchase and retirement of shares | (28) | $ (1) | (27) | |||
Repurchase and retirement of shares, shares | (70,000) | |||||
Foreign currency translation | (20) | (20) | ||||
Net income (loss) | (1,447) | (1,447) | ||||
Ending Balance at Oct. 31, 2020 | (1,032) | $ 110 | 52,137 | 3 | (53,282) | |
Ending Balance, shares at Oct. 31, 2020 | 2,000 | 11,009,000 | ||||
Beginning Balance at Jan. 30, 2021 | (2,795) | $ 11 | 53,128 | (15) | (55,919) | |
Beginning Balance, shares at Jan. 30, 2021 | 2,000 | 11,465,000 | ||||
Stock-based compensation | 37 | 37 | ||||
Issuance of shares in payment of accrued severance | 22 | 22 | ||||
Issuance of shares in payment of accrued severance, shares | 4,000 | |||||
Warrant exercises | 124 | $ 1 | 123 | |||
Warrant exercises | 247,000 | |||||
Foreign currency translation | (6) | (6) | ||||
Net income (loss) | (1,652) | (1,652) | ||||
Ending Balance at May. 01, 2021 | (4,270) | $ 12 | 53,310 | (21) | (57,571) | |
Ending Balance, shares at May. 01, 2021 | 2,000 | 11,716,000 | ||||
Beginning Balance at Jan. 30, 2021 | $ (2,795) | $ 11 | 53,128 | (15) | (55,919) | |
Beginning Balance, shares at Jan. 30, 2021 | 2,000 | 11,465,000 | ||||
Sale of stock, shares | 0 | |||||
Net income (loss) | $ (4,650) | |||||
Ending Balance at Oct. 30, 2021 | (1,928) | $ 12 | 58,643 | (14) | (60,569) | |
Ending Balance, shares at Oct. 30, 2021 | 2,000 | 12,371,000 | ||||
Beginning Balance at May. 01, 2021 | (4,270) | $ 12 | 53,310 | (21) | (57,571) | |
Beginning Balance, shares at May. 01, 2021 | 2,000 | 11,716,000 | ||||
Stock-based compensation | 19 | 19 | ||||
Stock-based compensation, shares | 3,000 | |||||
Issuance of shares in payment of accrued severance | 22 | 22 | ||||
Issuance of shares in payment of accrued severance, shares | 8,000 | |||||
Short-swing profit disgorgement | 40 | 40 | ||||
Issuance of warrants | 743 | 743 | ||||
Foreign currency translation | (2) | (2) | ||||
Net income (loss) | (2,107) | (2,107) | ||||
Ending Balance at Jul. 31, 2021 | (5,555) | $ 12 | 54,134 | (23) | (59,678) | |
Ending Balance, shares at Jul. 31, 2021 | 2,000 | 11,727,000 | ||||
Stock-based compensation | 20 | 20 | ||||
Issuance of shares in payment of accrued severance | 22 | 22 | ||||
Issuance of shares in payment of accrued severance, shares | 6,000 | |||||
Issuance of shares in payment of services | 250 | 250 | ||||
Issuance of shares in payment of services, shares | 63,000 | |||||
Short-swing profit disgorgement | 213 | 213 | ||||
Sale of stock | 2,000 | 2,000 | ||||
Sale of stock, shares | 575,000 | |||||
Issuance of warrants | 2,004 | 2,004 | ||||
Foreign currency translation | 9 | 9 | ||||
Net income (loss) | (891) | (891) | ||||
Ending Balance at Oct. 30, 2021 | $ (1,928) | $ 12 | $ 58,643 | $ (14) | $ (60,569) | |
Ending Balance, shares at Oct. 30, 2021 | 2,000 | 12,371,000 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) | 9 Months Ended | |
Oct. 30, 2021 | Oct. 31, 2020 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (4,650,000) | $ 6,914,000 |
Less: loss from discontinued operations | (185,000) | |
Income (loss) from continuing operations | (4,650,000) | 7,099,000 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Depreciation and amortization of property and equipment | 522,000 | 399,000 |
Amortization of intangibles | 106,000 | 105,000 |
Accretion of debt discount | 846,000 | 666,000 |
Non-cash interest | 232,000 | |
Provision for bad debts | 91,000 | |
Stock-based compensation | 76,000 | 673,000 |
Gain on debt conversion/forgiveness | (3,139,000) | (13,642,000) |
Loss (gain) on disposal of fixed assets | (1,000) | 6,000 |
Provision for obsolete inventory | 332,000 | 260,000 |
Gain on derivative liability | (543,000) | |
Impairment of right of use assets | 51,000 | |
Change in operating assets and liabilities: | ||
Trade accounts receivable | 32,000 | 535,000 |
Other accounts receivable | 54,000 | 746,000 |
Inventory | (1,652,000) | 1,377,000 |
Prepaid assets | (5,000) | 13,000 |
Other assets | (56,000) | (35,000) |
Accounts payable | 1,455,000 | 1,306,000 |
Accrued expenses and other current liabilities | 541,000 | (664,000) |
Operating lease right of use assets and lease liabilities | 640,000 | (604,000) |
Net cash used in continuing operating activities | (4,899,000) | (1,929,000) |
Net cash used in discontinued operating activities | (1,000) | (580,000) |
Net cash used in operating activities | (4,900,000) | (2,509,000) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (2,393,000) | (514,000) |
Proceeds from sale of property and equipment | 15,000 | |
Net cash used in investing activities | (2,378,000) | (514,000) |
Cash flows from financing activities: | ||
Proceeds from issuance of notes payable | 2,000,000 | 3,098,000 |
Proceeds from issuance of notes payable to related party | 3,500,000 | |
Payment of notes payable | (325,000) | |
Payment of note payable to related party | (400,000) | |
Proceeds from sale of stock | 2,000,000 | |
Proceeds from warrant exercises | 123,000 | |
Short-swing profit disgorgement | 253,000 | |
Net cash provided by financing activities | 7,476,000 | 2,773,000 |
Effect of exchange rate changes on cash | 1,000 | 40,000 |
Net increase (decrease) in cash and cash equivalents | 199,000 | (210,000) |
Cash, cash equivalents and restricted cash, beginning of period | 2,846,000 | 3,169,000 |
Cash, cash equivalents and restricted cash, end of period | 3,045,000 | 2,959,000 |
Cash paid for interest | 31,000 | 67,000 |
Cash paid for income taxes | 33,000 | 27,000 |
Non-cash financing activities: | ||
Conversion of accounts payable and accrued liabilities to equity | 823,000 | |
Accounts receivable offset against conversion of accounts payable to equity | (227,000) | |
Record operating lease right-of-use assets and operating lease liabilities | $ 4,247,000 | $ 437,000 |
Basis of Presentation
Basis of Presentation | 9 Months Ended |
Oct. 30, 2021 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Basis of Presentation | NOTE 1. Basis of Presentation The accompanying unaudited condensed consolidated financial statements and these condensed notes have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). Accordingly, they do not include all of the information and notes required by GAAP for complete financial statements. The preparation of financial statements requires management to make estimates and assumptions that affect amounts reported in the financial statements and accompanying notes. Actual results are likely to differ from those estimates, but management does not believe such differences will materially affect the financial position or results of operations of Simply, Inc. (the “Company”), although they may. These unaudited consolidated financial statements and condensed notes should be read in conjunction with the financial statements and notes as of and for the 52 weeks ended January 30, 2021 included in the Company’s Annual Report on Form 10‑K for such year. In early 2020, t he Company sold both of its international subsidiaries in Latin America (see Note 17). On January 31, 2020, classified as discontinued operations in the Company’s consolidated financial statements for all periods pre sented During March 2020, the Company restructured substantially all of its then outstanding debt of $16.4 million. After the restructuring, the Company’s outstanding debt was reduced by $14.6 million through a combination of debt forgiveness and conversion into common stock, leaving $1.8 million outstanding with extended maturity dates. Effective October 14, 2020, the Company changed its legal name from “Cool Holdings, Inc.” to “Simply, Inc.” and effected a one-for-ten The Company has determined that, under its current business structure, its management makes operating decisions and assesses performance of its business as a single segment. The Company previously operated its Cooltech Distribution unit during the 26 weeks ended August 1, 2020, but it was completely phased out by August 1, 2020 and its operating results during the period were immaterial. The Company’s fiscal year is composed of the 52 or 53 weeks ending on the Saturday closest to the last day of January. The Company’s consolidated financial statements include assets, liabilities and operating results of its wholly-owned subsidiaries. All material intercompany accounts and transactions have been eliminated in consolidation. In the opinion of management, these unaudited condensed consolidated financial statements reflect all adjustments, consisting only of normal recurring adjustments, considered necessary to fairly present the Company’s financial condition as of October 30, 2021, and the results of operations, financial position and cash flows for all periods presented. The results reported in these condensed consolidated financial statements for the 39 weeks ended October 30, 2021 are not necessarily indicative of the operating results, financial condition or cash flows that may be expected for the full year of Fiscal 2022 or for any future period. |
Going Concern Considerations
Going Concern Considerations | 9 Months Ended |
Oct. 30, 2021 | |
Going Concern Considerations [Abstract] | |
Going Concern Considerations | NOTE 2. Going Concern Considerations In accordance with the guidance issued by the under ASU No. 2014-15, Presentation of Financial Statements - Going Concern (Subtopic 205-40): Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern, the Company is required to evaluate each reporting period whether there is substantial doubt about its ability to continue as a going concern. In evaluating the Company’s ability to continue as a going concern, management considered the conditions and events that could raise substantial doubt about the Company’s ability to continue as a going concern for 12 months following the date the Company’s financial statements are issued. Management considered the Company’s current financial condition and liquidity sources, including current funds and available working capital, forecasted future cash flows and the Company’s conditional and unconditional obligations due within one year from the date of issuance of the financial statements. Because the Company has sustained significant losses over the past two years, only recently completed the restructuring of its debt, and because of the uncertainty of the near term implications of the novel coronavirus (“COVID-19”) pandemic on its business, management has substantial doubt that the Company could remain independent and continue as a going concern for the required period of time if it were not able to raise additional capital to fund its working capital needs. These consolidated financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern. |
Discontinued Operations
Discontinued Operations | 9 Months Ended |
Oct. 30, 2021 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Discontinued Operations | NOTE 3. Discontinued Operations During the fourth quarter of 2018, the Company completed the closure of its verykool business segment. Also, as discussed in Note 17, the Company sold OneClick Argentino, its business unit in Argentina, and Verablue Caribbean Group, its business unit in the Dominican Republic, which resulted in a loss on sale of $136,000 in the 39 weeks ended October 31, 2020. Consequently, these business units, plus OneClick International, the wholly owned parent of the two business units, are also reported as discontinued operations in our consolidated financial statements for all periods presented. There were no results of discontinued operations for the 39 weeks ended October 30, 2021. The results of discontinued operations for the 13 weeks ended October 31, 2020 are as follows (in thousands): Verykool TOTAL Net sales $ — $ — Cost of sales — — Gross profit — — Selling, general and administrative expenses — — Operating loss — — Other income, net 51 51 Income from discontinued operations before income taxes 51 51 Provision for income taxes — — Net income from discontinued operations $ 51 $ 51 The results of discontinued operations for the 39 weeks ended October 31, 2020 are as follows (in thousands): Verykool Verablue Caribbean TOTAL Net sales $ — $ 407 $ 407 Cost of sales — 319 319 Gross profit — 88 88 Selling, general and administrative expenses 6 192 198 Operating loss (6 ) (104 ) (110 ) Other income (expense), net 54 (129 ) (75 ) Income (loss) from discontinued operations before income taxes 48 (233 ) (185 ) Provision for income taxes — — — Net income (loss) from discontinued operations $ 48 $ (233 ) $ (185 ) |
Stock-Based Compensation
Stock-Based Compensation | 9 Months Ended |
Oct. 30, 2021 | |
Equity [Abstract] | |
Stock-Based Compensation | NOTE 4. Stock-Based Compensation The Company’s 2015 Equity Incentive Plan (the “Plan”) was approved by stockholders in June 2015. The Plan is an omnibus plan that allows for grants of stock options, stock appreciation rights, stock awards, restricted stock, stock units and performance units. As of October 30, 2021, options to purchase 855,000 shares were outstanding under the 2015 Plan and 1,067,000 shares were available for future grant. During the 39-week period ended October 31, 2020, the Company made grants of unregistered shares to advisors associated with the March 2020 debt restructuring in the aggregate amount of 300,000 shares, and a corresponding reduction of warrants on 300,000 shares previously issued to the advisors. On a combined basis, the shares issued were valued at $216,000, and the warrant reductions were valued at $89,000, resulting in a net compensation expense of $127,000. Also during the period, the Company made stock grants under the Plan in an aggregate amount of 295,000 shares to its board of directors. The stock was valued at $390,000 based on the closing market price on the date of grant. Additional expense for restricted shares vesting during the period amounted to $77,000. Also during the 39-week period ended October 31, 2020, the Company granted stock options to purchase an aggregate of 180,000 shares to employees. The fair value of the option grant was estimated on the date of grant using the Black-Scholes option pricing model with the following weighted-average assumptions: stated life of 5 years; risk-free interest rate of 0.2% to 0.3% based on the U.S. Treasury yields in effect at the time of grant; expected dividend yield of 0% as the Company has not, and does not intend to, declare dividends; and an expected life of 2.5 years for options having immediate vesting and 3.29 years for graded vested options. The expected annualized volatility of the Company’s common stock used in the calculation was 95%. Determination of this rate began with the fully-observed historical volatility of the stock dating back to March 2018, immediately following the announcement of completion of the Cooltech merger and related stock split. It was noted that the Company did not have any exchange-traded options since the merger from which to obtain an implied volatility. ertain adjustments were then applied to the fully‑observed historical volatility through June 2020 in the form of excluding the effects of the Company’s extraordinarily-significant announcements and events during the period. Total stock-based compensation expense during the 39 weeks ended October 31, 2020 amounted to $673,000. No grants of options or shares were made during the 39-week period ended October 30, 2021. Stock-based compensation expense for the period for vesting of stock options and restricted stock amounted to $76,000. A summary of option activity under the 2015 Plan as of October 30, 2021 and changes during the 39 weeks then ended are presented in the table below (in thousands except per share and life amounts): Shares Wtd. Avg. Exercise Price Wtd. Avg. Remaining Contractual Life in Years Aggregate Intrinsic Value (a) Outstanding at January 30, 2021 855 Granted — Exercised — Expired/Forfeited — Outstanding at October 30, 2021 855 $ 1.676 4.00 $ 1,082 Vested and expected to vest 855 $ 1.676 4.00 $ 1,082 Exercisable at October 30, 2021 707 $ 1.690 4.01 $ 887 Non-vested at October 30, 2021 (b) 148 $ 1.611 3.94 $ 195 (a) The aggregate intrinsic value is based on our closing stock price of $2.925 as of October 30, 2021. (b) Weighted average grant-date fair value is $1.06 per share. |
Earnings Per Share
Earnings Per Share | 9 Months Ended |
Oct. 30, 2021 | |
Earnings Per Share [Abstract] | |
Earnings Per Share | NOTE 5. Earnings Per Share Basic earnings (loss) per share is computed by dividing income (loss) available to common stockholders by the weighted-average number of common shares outstanding. Diluted earnings (loss) per share is computed similarly to basic earnings (loss) per share, except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential additional common shares that were dilutive had been issued as determined by using the treasury stock method. Common share equivalents are excluded from the computation if their effect is anti-dilutive. The Company’s common share equivalents consist of convertible notes, convertible preferred stock, stock options and warrants. For the 39-week period ended October 31, 2020, the dilutive effect of in-the-money common share equivalents amounted to 312,000 shares. Common shares from the potential exercise of common share equivalents are excluded from the computation of diluted earnings (loss) per share if their exercise prices are greater than the Company’s average stock price for the period. For the 13 and 39‑week periods ended October 30, 2021, the number of such shares excluded was 1,677,000. For the 13 and 39-week periods ended October 31, 2020, the number of such shares excluded was 2,293,000. For the 13 and 39-week periods ended October 30, 2021, the number of in-the-money common share equivalents excluded from the computation of net loss per share because their inclusion would have been anti-dilutive amounted to 3,857,000. For the 13-week period ended October 31, 2020, the number of in-the-money common share equivalents excluded from the computation of net loss per share amounted to 702,000. |
Income Taxes
Income Taxes | 9 Months Ended |
Oct. 30, 2021 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 6. Income Taxes The Company made a comprehensive review of its portfolio of uncertain tax positions in accordance with applicable standards of the FASB. In this regard, an uncertain tax position represents the Company’s expected treatment of a tax position taken in a filed tax return, or planned to be taken in a future tax return, that has not been reflected in measuring income tax expense for financial reporting purposes. As a result of this review, the Company concluded that at this time there are no uncertain tax positions, and there has been no cumulative effect on retained deficit. The Company is subject to U.S. federal income tax as well as income tax in multiple states and foreign jurisdictions. For all major taxing jurisdictions, the tax years 2016 through 2020 remain open to examination or re-examination. As of October 30, 2021, the Company does not expect any material changes to unrecognized tax positions within the next twelve months. The Company recognizes the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences of events that have been recognized in an entity’s financial statements or tax returns. Judgment is required in assessing the future tax consequences of events that have been recognized in our financial statements or tax returns. Fluctuations in the actual outcome of these future tax consequences could materially impact the Company’s financial position or results of operations. |
Inventory
Inventory | 9 Months Ended |
Oct. 30, 2021 | |
Inventory Disclosure [Abstract] | |
Inventory | NOTE 7. Inventory Inventory is stated at the lower of cost (first-in, first-out) or net realizable value and consists primarily of consumer electronics and accessories. The Company writes down its inventory to net realizable value when it is estimated to be slow-moving or obsolete. For both the 13 and 39 weeks ended October 30, 2021, inventory write-downs amounted to $332,000. For the 13 and 39 weeks ended October 31, 2020, inventory write-downs amounted to $159,000 and $260,000, respectively. |
Property and Equipment
Property and Equipment | 9 Months Ended |
Oct. 30, 2021 | |
Property Plant And Equipment [Abstract] | |
Property and Equipment | NOTE 8. Property and Equipment Property and equipment, all located in the United States, consisted of the following as of the dates presented (in thousands): October 30, 2021 January 30, 2021 (unaudited) Machinery and equipment $ 481 $ 240 Furniture and fixtures 1,205 666 Leasehold improvements 2,909 1,566 Subtotal 4,595 2,472 Less accumulated depreciation (1,436 ) (1,171 ) Total $ 3,159 $ 1,301 Depreciation and amortization expense of property and equipment for the 13 and 39 weeks ended October 30, 2021 was $201,000 and $522,000, respectively. Depreciation and amortization expense of property and equipment for the 13 and 39 weeks ended October 31, 2020 was $127,000 and $399,000, respectively. |
Intangible Asset and Goodwill
Intangible Asset and Goodwill | 9 Months Ended |
Oct. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Intangible Asset and Goodwill | NOTE 9. Intangible Asset and Goodwill The Company’s goodwill and definite-lived intangible asset arose primarily from the acquisition of Simply Mac on September 25, 2019. The intangible asset is comprised of the Simply Mac tradename, that is being amortized over 15 years, and the simplyinc.com and simplydeals.com domain name s , that are being amortized over 5 years . The carrying value of the intangible asset s consisted of the following as of the dates presented (in thousands): October 30, 2021 January 30, 2021 (unaudited) Simply Mac Tradename $ 2,092 $ 2,092 SimplyInc Domain Name 10 10 SimplyDeals Domain Name 8 — Subtotal 2,110 2,102 Less accumulated amortization (295 ) (189 ) Total $ 1,815 $ 1,913 Amortization expense for the 13 and 39 weeks ended October 30, 2021 was $36,000 and $106,000, respectively. Amortization expense for the 13 and 39 weeks ended October 31, 2020 was $35,000 and $105,000, respectively. The carrying amount of goodwill at January 30, 2021 and October 30, 2021 amounted to $699,000. The Company performs an impairment test of goodwill on an annual basis during the fourth quarter, and performs an impairment test of goodwill, intangibles and other long-lived assets when circumstances indicate that the carrying value of these assets might be impaired. No impairment charges were recorded for the 39 weeks ended October 30, 2021 and October 31, 2020. |
Accrued Expenses
Accrued Expenses | 9 Months Ended |
Oct. 30, 2021 | |
Payables And Accruals [Abstract] | |
Accrued Expenses | NOTE 10. Accrued Expenses Accrued expenses consisted of the following as of the dates presented (in thousands): October 30, 2021 (unaudited) January 30, 2021 Accrued compensation (wages, benefits, severance, vacation) $ 937 $ 1,187 Customer deposits and overpayments 1,670 880 Accrued interest 192 113 Accrued sales tax 617 561 Accrued income taxes 240 243 Other accruals 327 564 Total $ 3,983 $ 3,548 |
Notes Payable
Notes Payable | 9 Months Ended |
Oct. 30, 2021 | |
Debt Disclosure [Abstract] | |
Notes Payable | NOTE 11. Notes Payable Notes payable consisted of the following as of the dates presented (in thousands): October 31, 2021 (unaudited) January 30, 2021 6% promissory note due February 17, 2024 $ 1,250 $ 1,250 1% promissory note due April 16, 2022 — 3,098 1% promissory note due March 10, 2026 2,000 — Total face amount 3,250 4,348 Amount classified as current 178 2,478 Amount classified as long-term $ 3,072 $ 1,870 On September 25, 2019, in connection with the acquisition of Simply Mac, the Company issued a $7,858,000 secured promissory note to GameStop. The note bore interest at a rate equal to 12% per annum and called for the Company to make four equal installment payments of $1,965,000, plus accrued interest, on each 3-month anniversary of the note. The note was secured by, among other things, the Simply Mac inventory and accounts receivable. The first installment payment was due on December 25, 2019, but the Company was unable to make the payment. Consequently, at December 31, 2019, the note was in default, and GameStop provided the Company with an official Notice of Default on January 15, 2020. On March 11, 2020, the Company and GameStop entered into an agreement to amend and restate the promissory note. The amended promissory note reduced the principal balance of the note from $7,858,000 to $1,250,000 , reduced the interest rate to 6% per annum and extended the maturity date to February 17, 2024 . Additionally, the amended note released all prior security and collateral under the original note and is unsecured. The parties also entered into a Termination Agreement, whereby the Company agreed to pay GameStop an aggregate amount of $335,152 , payable in twelve equal monthly installments of $27,929 with the first installment due April 30, 2020 , in satisfaction of certain post-closing amounts owed to GameStop under the Stock Purchase Agreement and certain agreements related thereto, less amounts owed to the Company from GameStop under the Stock Purchase Agreement relating to the post-closing working capital adjustment thereunder. The Company also made a onetime cash payment of $250,000 to GameStop and released to GameStop $345,000 of funds held in escrow in connection with the Simply Mac acquisition . As a result of these agreements, the Company recorded a gain of $6,961,000 on the extinguishment of debt. All installment payments were fully made by the Company on a timely basis. On April 16, 2020, the Company secured a $3,098,000, 2-year loan from a regional bank (the “Lender”) pursuant to the U.S. Small Business Administration (“SBA”) Paycheck Protection Program (“PPP”) under Title I of the Coronavirus Aid, Relief, and Economic Security Act passed by Congress and signed into law on March 27, 2020 (“CARES Act”). The note bears interest at 1.0% per annum and no payments were due for the first six months. In accordance with the applicable provisions of the CARES Act, on October 19, 2020, the Company filed its forgiveness application (the “Application”) with the Lender. The Company certified in the Application that 100% of the loaned funds were utilized during the 24-week covered period commencing April 16, 2020 to pay for qualified payroll and payroll related costs, and as such, requested that the entire principal balance be forgiven. The Application was approved by the lender and the SBA, and the loan with accrued interest was extinguished on August 17, 2021. On March 10, 2021, the Company secured a second-draw, $2,000,000, 1.0%, 5-year loan from the Lender pursuant to the PPP. No the Company l Interest expense for notes payable for the 13 and 39 weeks ended October 30, 2021 was $25,000 and $86,000, respectively. Interest expense for the 13 and 39 weeks ended October 31, 2020 was $34,000 and $325,000, respectively. Derivative Liability: As discussed in Note 13, during March 2020 the Company completed a debt restructuring that resulted in the conversion of then outstanding convertible notes and warrants into common stock. Because the conversion features and warrants did not have fixed conversion or exercise prices, they were recorded as derivative liabilities. The derivative liabilities were marked-to-market at March 31, 2020, the date the underlying notes were exchanged. The exchange resulted in a decrease in value of $543,000 at March 31, 2020 that was recorded as other income for the 39 weeks ended October 31, 2020 |
Related Parties
Related Parties | 9 Months Ended |
Oct. 30, 2021 | |
Related Party Transactions [Abstract] | |
Related Parties | NOTE 12. Related Parties Notes Payable to Related Parties: Notes payable to related parties consisted of the following as of the dates presented (in thousands): October 31, 2021 (unaudited) January 30, 2021 18% promissory note due April 21, 2021 $ — $ 400 9% unsecured convertible note due January 6, 2022 1,000 — 9% unsecured convertible note due February 5, 2022 1,000 — 9% unsecured convertible note due April 14, 2022 750 9% unsecured convertible notes due April 21, 2022 750 — Total face amount 3,500 400 Unamortized discount (1,901 ) — Total carrying value 1,599 400 Amount classified as current 1,599 400 Amount classified as long-term $ — $ — On January 21, 2021, the Company’s Simply Mac subsidiary issued a $400,000 unsecured short-term promissory note to Taylor Capital LLC that was outstanding at January 30, 2021. The note was scheduled to mature, and become due and payable in full, on April 21, 2021 together with a one-time fee of $20,000 plus accrued interest at the rate of 18% per annum compounded monthly. Taylor Capital is wholly owned by Kevin Taylor, the chairman of the Company’s board of directors. In March 2021, the note and all accrued interest and fees were repaid in advance of its maturity. Interest expense on the note for the 39 weeks ended October 30, 2021 was $9,000. On July 6, 2021, the Company issued a $1,000,000, six-month six-month On August 5, 2021, the Company issued a $1,000,000, six-month six-month On October 14, 2021, the Company issued a $750,000, six-month six-month On October 21 , 2021, the Company issued a $ , six-month , 9 % unsecured convertible note and warrant to SOL Global. The principal and unpaid accrued interest is convertible at the option of the holder at any time into shares of common stock of the Company at the Conversion Price and the warrant is exercisable for shares of common stock of the Company at the Exercise Price . The warrant is exercisable beginning six months after issuance and expires 42 months from the date of issuance. The Company valued the warrants in accordance with ASC 470-20-25-2 using a binomial option pricing model. The valuation assumed a 108 % volatility rate of the Company’s common stock, an estimated life of 3.5 years and a risk-free interest rate of %. The warrants were assigned a value of $ , which amount was recorded as a discount to the debt and a credit to additional paid in capital, resulting in an effective annual interest rate of approximately 1530 %. The debt discount is being amortized to interest expense over the six-month life of the note on a straight-line basis, which approximates the effective interest method. The balance of unamortized discount at October 30 , 2021 amounted to $ . Interest expense on the note for both the 13 and 39 weeks ended October 30 , 2021 was $ , including accretion of $ . Interest expense for related party notes payable for the 13 and 39 weeks ended October 30, 2021 was $793,000 and $910,000, respectively, including accretion of $744,000 and $846,000, respectively. Other Related Party Transactions: In October 2021, the Company opened a store in Miami, Florida under the SimplyEV brand to sell scooters and other all-electric products and accessories. The Company licensed the Simply EV brand from its owner, EV Toys LLC (“EV Toys”), and purchases the products sold in the store from EV Toys. The store premises are leased from LIVWRK SOL Wynwood LLC (“LIVWRK”) under a 3-year lease that calls for monthly rent of $5,250 plus operating costs. In June 2021, the Company also began selling scooters purchased from EV Toys in its Simply Mac stores and on its eCommerce site. Purchases of products from EV Toys during the 13 and 39 weeks ended October 30, 2021 amounted to $502,000 and $612,000, respectively, and the outstanding balance of accounts payable owed by the Company to EV Toys at October 30, 2021 was $471,000. The Company also purchases accessory products sold in its Simply Mac stores and on its eCommerce site from Smash Technologies LLC (“Smash”). Purchases of products from Smash during the 13 and 39 weeks ended October 30, 2021 amounted to $920,000 and $1,237,000, respectively, and the outstanding balance of accounts payable owed by the Company to Smash at October 30, 2021 was $1,233,000. EV Toys, LIVWRK and Smash are indirectly partially owned by SOL Global. Kevin Taylor, the Company’s Board Chairman, is also a member of the Board of Directors of SOL Global. |
Capital Stock
Capital Stock | 9 Months Ended |
Oct. 30, 2021 | |
Equity [Abstract] | |
Capital Stock | NOTE 13. Capital Stock During March 2020, the Company completed the exchange of two outstanding convertible notes with a principal amount of $434,000 and related accrued interest of $8,000 into 86,800 shares of common stock at $5.10 per share in accordance with exchange agreements entered into in October 2019. The value of the stock issued in the exchange was $35,000, and the Company recorded a gain on extinguishment of debt of $204,000. Also during March 2020, the Company entered into an additional debt restructuring that resulted in the conversion of debt with an aggregate principal amount of $7,492,000 and accrued interest of $691,000 into common stock of the Company. The carrying value of the debt and related derivative liability at the time of extinguishment amounted to $8,341,000. The aggregate total of $8,183,000 was converted into 4,814,000 shares of common stock at $1.70 per share. The combined value of the stock issued in the conversion was $1,869,000, and the Company recorded a gain on extinguishment of debt of $6,472,000. The restructuring also included the settlement of other outstanding claims, that resulted in the issuance of an additional 1,068,000 common shares, of which 1,040,000 shares were attributable to a royalty claim in connection with the September 2019 acquisition of Simply Mac. The $415,000 value of the 1,040,000 shares was recorded as an accrued liability at December 31, 2019. On October 14, 2020, the Company executed a 1-for-10 During April 2021, holders of warrants exercisable for 246,672 shares of the Company’s common stock exercised the warrants at the strike price of $0.50 per share, which resulted in aggregate cash proceeds to the Company of $124,000. During August and September 2021, the Company raised $2,000,000 in four private placements of the Company’s common stock of $500,000 each to SOL Verano Blocker 1 LLC, a wholly owned subsidiary of SOL Global. The shares were sold at the closing market price on the funding dates and the Company sold an aggregate of 575,527 shares at an average price of $3.48 per share. On September 15, 2021, the Company issued 63,452 shares of its common stock to a vendor in exchange for $250,000 of services provided at a price of $3.94 per share, which was the closing market price on the issuance date. |
Recent Accounting Pronouncement
Recent Accounting Pronouncements | 9 Months Ended |
Oct. 30, 2021 | |
Accounting Changes And Error Corrections [Abstract] | |
Recent Accounting Pronouncements | NOTE 14. Recent Accounting Pronouncements Recently Adopted: I n January 2017, the FASB issued ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The purpose of this ASU is to reduce the cost and complexity of evaluating goodwill for impairment. It eliminates the need for entities to calculate the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. Under this ASU, an entity will perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying value exceeds the reporting unit’s fair value. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the new standard on January 1, 2020, which adoption did not have a material impact on the Company’s consolidated financial condition or results of operations In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement,” which removes, adds and modifies certain disclosure requirements for fair value measurements in Topic 820. ASU 2018-13 removes the following disclosure requirements: (i) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and (ii) the entity’s valuation processes for Level 3 fair value measurements. ASU 2018-13 adds the following disclosure requirements: (i) provide information about the measurement uncertainty of Level 3 fair value measurements as of the reporting date rather than a point in the future, (ii) disclose changes in unrealized gains and losses related to Level 3 measurements for the period included in other comprehensive income, and (iii) disclose for Level 3 measurements the range and weighted average of the significant unobservable inputs and the way it is calculated. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the new standard on January 1, 2020, which adoption did not have a material impact on the Company’s consolidated financial condition or results of operations. In August 2020, the FASB issued ASU 2020-06, “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40),” to address the complexity in accounting for certain financial instruments with characteristics of liabilities and equity. Amongst other provisions, the amendments in this ASU significantly changed the guidance on the issuer’s accounting for convertible instruments and the guidance on the derivative scope exception for contracts in an entity’s own equity such that fewer conversion features will require separate recognition, and fewer freestanding instruments, like warrants, will require liability treatment. ASU 2020-06 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. However, early adoption is permitted as early as fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted the new standard on January 31, 2021, which adoption did not require the Company to bifurcate the embedded beneficial conversion feature from the unsecured convertible notes it issued during the 39 weeks ended October 30, 2021. Other Accounting Standards Updates not effective until after October 30, 2021 are not expected to have a material effect on the Company’s financial position or results of operations. |
Commitments and Contingencies
Commitments and Contingencies | 9 Months Ended |
Oct. 30, 2021 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 15. Commitments and Contingencies Leases: The Company leases its retail stores, distribution center and corporate and administrative office facilities under operating lease agreements which expire through June 2028. Stores range in size from small stores of only 1,000 sq.ft. to larger stores of up to 5,200 sq.ft. Store leases typically provide for an initial lease term of three to five years, while certain leases have terms of up to seven years. Certain leases have provisions calling for percentage rent, in addition to base rent, once sales exceed a minimum threshold. However, the Company believes that the minimum thresholds in such leases exceed the level of sales expected to be generated by the stores during the term of the lease. Certain leases also contain renewal options, but such options are not recognized by the Company as part of its right-of-use assets or lease liabilities because the Company does not believe it is reasonably certain it will exercise such options, due to the uncertainty of future store financial performance or the ability of the property to generate sufficient customer traffic. Operating lease expense for the 13 and 39 weeks ended October 30, 2021 was $1,249,000 and $3,647,000, respectively. Operating lease expense for the 13 and 39 weeks ended October 31, 2020 was $1,169,000 and $3,608,000, respectively. Supplemental lease information as of October 30, 2021 is as follows ($ in thousands): Operating right of use assets $ 10,978 Current operating lease liabilities $ 2,192 Long-term operating lease liabilities $ 9,758 Weighted-average remaining lease term in years 4.47 Weighted-average discount rate 12 % As of October 30, 2021, maturities of lease liabilities are as follows (in thousands): Years Ending Fiscal January 2022 (remaining three months) $ 1,043 2023 4,097 2024 3,603 2025 2,890 2026 2,342 Thereafter 1,678 Total lease payments 15,653 Less: interest (3,703 ) Total 11,950 Less: current portion 2,192 Long-term portion $ 9,758 Security Agreement: On October 2, 2020, the Company entered into a security agreement with its primary inventory supplier of Apple products that are sold in the Company’s Simply Mac retail electronics stores and on the Simply Mac eCommerce site. Under the agreement, the Company granted the supplier a security interest in collateral comprised of substantially all of the Company’s assets including inventory, accounts receivable, fixed assets and other items. In exchange for entering into the agreement, the supplier increased the Company’s line of credit from $3 million to $6.6 million. At October 30, 2021 and January 30, 2021, the Company’s outstanding payable with this vendor amounted to $6,296,000 and $6,016,000, respectively. Litigation: The Company has in the past and may in the future become involved in certain legal proceedings and claims which arise in the normal course of business. As of the filing date of this report, the Company did not have any significant litigation outstanding. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 9 Months Ended |
Oct. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Fair Value of Financial Instruments | NOTE 16. Fair Value of Financial Instruments The Company measures its financial instruments in its financial statements at fair value or amounts that approximate fair value in accordance with ASC 820, “Fair Value Measurements and Disclosure.” ASC 820 defines 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, not adjusted for transaction costs. ASC 820 also establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three broad levels giving the highest priority to quoted prices in active markets for identical assets or liabilities (Level 1) and the lowest priority to unobservable inputs (Level 3). The three levels are described below: Level 1 Inputs – Unadjusted quoted prices in active markets for identical assets or liabilities that is accessible by the Company; Level 2 Inputs – Quoted prices in markets that are not active or financial instruments for which all significant inputs are observable, either directly or indirectly; Level 3 Inputs – Unobservable inputs for the asset or liability including significant assumptions of the Company and other market participants. The Company seeks to measure fair value based upon the lowest level of available input in the fair value hierarchy. When available, the Company uses quoted market prices to measure fair value. If market prices are not available, fair value measurement is based upon models that use primarily market-based or independently-sourced market parameters. If market observable inputs for model-based valuation techniques are not available, the Company makes judgments about assumptions market participants would use in estimating the fair value of the financial instrument. Carrying values of the Company’s short-term notes payable approximate their fair values due to the short-term nature and liquidity of these financial instruments. The Company estimates that the fair value of its notes payable approximates its carrying value based on significant level 2 observable inputs. In connection with the issuance by the Company during 2019 of certain convertible notes and warrants, as well as the conversion of certain notes into common stock and warrants, the conversion features and warrants were deemed to qualify as derivatives to be separately accounted for in accordance with ASC 815. The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the periods presented (in thousands): Derivative Liability Balance, February 1, 2020 $ 2,527 Change in fair value of derivative liability (543 ) Extinguishment of derivative liability resulting from debt conversion (1,984 ) Balance, August 1, 2020 $ — |
Sale of Latin American Subsidia
Sale of Latin American Subsidiaries | 9 Months Ended |
Oct. 30, 2021 | |
Discontinued Operations | NOTE 3. Discontinued Operations During the fourth quarter of 2018, the Company completed the closure of its verykool business segment. Also, as discussed in Note 17, the Company sold OneClick Argentino, its business unit in Argentina, and Verablue Caribbean Group, its business unit in the Dominican Republic, which resulted in a loss on sale of $136,000 in the 39 weeks ended October 31, 2020. Consequently, these business units, plus OneClick International, the wholly owned parent of the two business units, are also reported as discontinued operations in our consolidated financial statements for all periods presented. There were no results of discontinued operations for the 39 weeks ended October 30, 2021. The results of discontinued operations for the 13 weeks ended October 31, 2020 are as follows (in thousands): Verykool TOTAL Net sales $ — $ — Cost of sales — — Gross profit — — Selling, general and administrative expenses — — Operating loss — — Other income, net 51 51 Income from discontinued operations before income taxes 51 51 Provision for income taxes — — Net income from discontinued operations $ 51 $ 51 The results of discontinued operations for the 39 weeks ended October 31, 2020 are as follows (in thousands): Verykool Verablue Caribbean TOTAL Net sales $ — $ 407 $ 407 Cost of sales — 319 319 Gross profit — 88 88 Selling, general and administrative expenses 6 192 198 Operating loss (6 ) (104 ) (110 ) Other income (expense), net 54 (129 ) (75 ) Income (loss) from discontinued operations before income taxes 48 (233 ) (185 ) Provision for income taxes — — — Net income (loss) from discontinued operations $ 48 $ (233 ) $ (185 ) |
Latin American Subsidiaries [Member] | |
Discontinued Operations | NOTE 17. Sale of Latin American Subsidiaries On January 31, 2020, the Company entered into a definitive agreement with two employees of the Company to sell all of its ownership interest in OneClick Argentino S.R.L., the Company’s subsidiary that operated 6 retail electronics stores in Argentina. The purchase price to the buyers was the assumption of all liabilities of the Argentinian subsidiary, including $321,000 of debt owed to two major distribution suppliers. OneClick Argentino S.R.L. has been classified as a discontinued operation in the Company’s consolidated financial statements for all periods pre sented. On April 6, 2020, the Company entered into a definitive agreement with an employee of the Company to sell all of its ownership interest in Verablue Caribbean Group, S.R.L. (“Verablue”), the Company’s subsidiary that operated 7 retail electronics stores in in the Dominican Republic. The buyers assumed all liabilities of Verablue, and agreed to pay the Company $100,000 Verablue has been classified as a discontinued operation in the Company’s consolidated financial statements for all periods pre sented |
Subsequent Events
Subsequent Events | 9 Months Ended |
Oct. 30, 2021 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 18. Subsequent Events On November 5, 2021, the Company issued a $500,000, six-month On November 23, 2021, the Company entered into a $ 6,000,000 Loan and Security Agreement (the “ Agreement ”) with Line Financial Corp. (“ Line ”). Under the Agreement, the Company can borrow up to $ 6,000,000 in increments of no less than $ 500,000 to purchase inventory for the upcoming holiday season. No advances can be made after January 31, 2022. The Agreement calls for weekly payments of 75% of the sales of inventory purchased with loan proceeds. The principal balance bears interest at the prime rate plus 6.75 % per annum with the prime rate having a floor of 3.25 %. Interest is accrued daily and payable monthly. In addition, the Company paid Line a loan fee of $ 120,000 , which amount was added to principal upon execution of the Agreement. The Agreement, which is secured by substantially all of the assets of the Company, matures on November 23, 2022 , and contains other customary terms and conditions for agreements of its type. |
Recent Accounting Pronounceme_2
Recent Accounting Pronouncements (Policies) | 9 Months Ended |
Oct. 30, 2021 | |
Accounting Changes And Error Corrections [Abstract] | |
Recently Adopted | Recently Adopted: I n January 2017, the FASB issued ASU 2017-04, “Intangibles-Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment.” The purpose of this ASU is to reduce the cost and complexity of evaluating goodwill for impairment. It eliminates the need for entities to calculate the implied fair value of goodwill by assigning the fair value of a reporting unit to all of its assets and liabilities as if that reporting unit had been acquired in a business combination. Under this ASU, an entity will perform its goodwill impairment test by comparing the fair value of a reporting unit with its carrying amount. An impairment charge is recognized for the amount by which the carrying value exceeds the reporting unit’s fair value. The new standard is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the new standard on January 1, 2020, which adoption did not have a material impact on the Company’s consolidated financial condition or results of operations In August 2018, the FASB issued ASU 2018-13, “Fair Value Measurement (Topic 820) – Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement,” which removes, adds and modifies certain disclosure requirements for fair value measurements in Topic 820. ASU 2018-13 removes the following disclosure requirements: (i) the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy and (ii) the entity’s valuation processes for Level 3 fair value measurements. ASU 2018-13 adds the following disclosure requirements: (i) provide information about the measurement uncertainty of Level 3 fair value measurements as of the reporting date rather than a point in the future, (ii) disclose changes in unrealized gains and losses related to Level 3 measurements for the period included in other comprehensive income, and (iii) disclose for Level 3 measurements the range and weighted average of the significant unobservable inputs and the way it is calculated. ASU 2018-13 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2019. The Company adopted the new standard on January 1, 2020, which adoption did not have a material impact on the Company’s consolidated financial condition or results of operations. In August 2020, the FASB issued ASU 2020-06, “Debt-Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40),” to address the complexity in accounting for certain financial instruments with characteristics of liabilities and equity. Amongst other provisions, the amendments in this ASU significantly changed the guidance on the issuer’s accounting for convertible instruments and the guidance on the derivative scope exception for contracts in an entity’s own equity such that fewer conversion features will require separate recognition, and fewer freestanding instruments, like warrants, will require liability treatment. ASU 2020-06 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2021. However, early adoption is permitted as early as fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020. The Company adopted the new standard on January 31, 2021, which adoption did not require the Company to bifurcate the embedded beneficial conversion feature from the unsecured convertible notes it issued during the 39 weeks ended October 30, 2021. Other Accounting Standards Updates not effective until after October 30, 2021 are not expected to have a material effect on the Company’s financial position or results of operations. |
Discontinued Operations (Tables
Discontinued Operations (Tables) | 9 Months Ended |
Oct. 30, 2021 | |
Discontinued Operations And Disposal Groups [Abstract] | |
Results of Discontinued Operations (Detail) | The results of discontinued operations for the 13 weeks ended October 31, 2020 are as follows (in thousands): Verykool TOTAL Net sales $ — $ — Cost of sales — — Gross profit — — Selling, general and administrative expenses — — Operating loss — — Other income, net 51 51 Income from discontinued operations before income taxes 51 51 Provision for income taxes — — Net income from discontinued operations $ 51 $ 51 The results of discontinued operations for the 39 weeks ended October 31, 2020 are as follows (in thousands): Verykool Verablue Caribbean TOTAL Net sales $ — $ 407 $ 407 Cost of sales — 319 319 Gross profit — 88 88 Selling, general and administrative expenses 6 192 198 Operating loss (6 ) (104 ) (110 ) Other income (expense), net 54 (129 ) (75 ) Income (loss) from discontinued operations before income taxes 48 (233 ) (185 ) Provision for income taxes — — — Net income (loss) from discontinued operations $ 48 $ (233 ) $ (185 ) |
Stock-Based Compensation (Table
Stock-Based Compensation (Tables) | 9 Months Ended |
Oct. 30, 2021 | |
Equity [Abstract] | |
Summary of Option Activity | A summary of option activity under the 2015 Plan as of October 30, 2021 and changes during the 39 weeks then ended are presented in the table below (in thousands except per share and life amounts): Shares Wtd. Avg. Exercise Price Wtd. Avg. Remaining Contractual Life in Years Aggregate Intrinsic Value (a) Outstanding at January 30, 2021 855 Granted — Exercised — Expired/Forfeited — Outstanding at October 30, 2021 855 $ 1.676 4.00 $ 1,082 Vested and expected to vest 855 $ 1.676 4.00 $ 1,082 Exercisable at October 30, 2021 707 $ 1.690 4.01 $ 887 Non-vested at October 30, 2021 (b) 148 $ 1.611 3.94 $ 195 (a) The aggregate intrinsic value is based on our closing stock price of $2.925 as of October 30, 2021. (b) Weighted average grant-date fair value is $1.06 per share. |
Property and Equipment (Tables)
Property and Equipment (Tables) | 9 Months Ended |
Oct. 30, 2021 | |
Property Plant And Equipment [Abstract] | |
Summary of Property and Equipment | Property and equipment, all located in the United States, consisted of the following as of the dates presented (in thousands): October 30, 2021 January 30, 2021 (unaudited) Machinery and equipment $ 481 $ 240 Furniture and fixtures 1,205 666 Leasehold improvements 2,909 1,566 Subtotal 4,595 2,472 Less accumulated depreciation (1,436 ) (1,171 ) Total $ 3,159 $ 1,301 |
Intangible Asset and Goodwill (
Intangible Asset and Goodwill (Tables) | 9 Months Ended |
Oct. 30, 2021 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Summary of Definite-Lived Intangible Assets Arose From Simply Mac Acquisition | The carrying value of the intangible asset s consisted of the following as of the dates presented (in thousands): October 30, 2021 January 30, 2021 (unaudited) Simply Mac Tradename $ 2,092 $ 2,092 SimplyInc Domain Name 10 10 SimplyDeals Domain Name 8 — Subtotal 2,110 2,102 Less accumulated amortization (295 ) (189 ) Total $ 1,815 $ 1,913 |
Accrued Expenses (Tables)
Accrued Expenses (Tables) | 9 Months Ended |
Oct. 30, 2021 | |
Payables And Accruals [Abstract] | |
Schedule of Accrued Expenses | Accrued expenses consisted of the following as of the dates presented (in thousands): October 30, 2021 (unaudited) January 30, 2021 Accrued compensation (wages, benefits, severance, vacation) $ 937 $ 1,187 Customer deposits and overpayments 1,670 880 Accrued interest 192 113 Accrued sales tax 617 561 Accrued income taxes 240 243 Other accruals 327 564 Total $ 3,983 $ 3,548 |
Notes Payable (Tables)
Notes Payable (Tables) | 9 Months Ended |
Oct. 30, 2021 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable | Notes payable consisted of the following as of the dates presented (in thousands): October 31, 2021 (unaudited) January 30, 2021 6% promissory note due February 17, 2024 $ 1,250 $ 1,250 1% promissory note due April 16, 2022 — 3,098 1% promissory note due March 10, 2026 2,000 — Total face amount 3,250 4,348 Amount classified as current 178 2,478 Amount classified as long-term $ 3,072 $ 1,870 |
Related Parties (Tables)
Related Parties (Tables) | 9 Months Ended |
Oct. 30, 2021 | |
Related Party Transactions [Abstract] | |
Summary of Notes Payable to Related Parties | Notes Payable to Related Parties: Notes payable to related parties consisted of the following as of the dates presented (in thousands): October 31, 2021 (unaudited) January 30, 2021 18% promissory note due April 21, 2021 $ — $ 400 9% unsecured convertible note due January 6, 2022 1,000 — 9% unsecured convertible note due February 5, 2022 1,000 — 9% unsecured convertible note due April 14, 2022 750 9% unsecured convertible notes due April 21, 2022 750 — Total face amount 3,500 400 Unamortized discount (1,901 ) — Total carrying value 1,599 400 Amount classified as current 1,599 400 Amount classified as long-term $ — $ — |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 9 Months Ended |
Oct. 30, 2021 | |
Leases [Abstract] | |
Schedule of Supplemental Lease Information | Supplemental lease information as of October 30, 2021 is as follows ($ in thousands): Operating right of use assets $ 10,978 Current operating lease liabilities $ 2,192 Long-term operating lease liabilities $ 9,758 Weighted-average remaining lease term in years 4.47 Weighted-average discount rate 12 % |
Schedule of Maturities of Operating Lease Liabilities | As of October 30, 2021, maturities of lease liabilities are as follows (in thousands): Years Ending Fiscal January 2022 (remaining three months) $ 1,043 2023 4,097 2024 3,603 2025 2,890 2026 2,342 Thereafter 1,678 Total lease payments 15,653 Less: interest (3,703 ) Total 11,950 Less: current portion 2,192 Long-term portion $ 9,758 |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 9 Months Ended |
Oct. 30, 2021 | |
Fair Value Disclosures [Abstract] | |
Summary of Financial Assets and Liabilities Measured at Fair Value | The table below provides a summary of the changes in fair value, including net transfers in and/or out, of all financial assets and liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the periods presented (in thousands): Derivative Liability Balance, February 1, 2020 $ 2,527 Change in fair value of derivative liability (543 ) Extinguishment of derivative liability resulting from debt conversion (1,984 ) Balance, August 1, 2020 $ — |
Basis of Presentation - Additio
Basis of Presentation - Additional Information (Detail) $ in Thousands | Oct. 14, 2020 | Mar. 31, 2020USD ($) | Oct. 30, 2021USD ($) | Jan. 30, 2021USD ($) | Apr. 06, 2020Store | Feb. 29, 2020USD ($) | Jan. 31, 2020Store |
Basis Of Presentation [Line Items] | |||||||
Notes payable, outstanding amount | $ | $ 1,800 | $ 3,250 | $ 4,348 | $ 16,400 | |||
Debt instrument, decrease, forgiveness and conversion of common stock | $ | $ 14,600 | ||||||
Reverse stock split | one-for-ten | ||||||
Stock split, conversion ratio | 0.1 | ||||||
OneClick Argentino S.R.L [Member] | Argentina [Member] | |||||||
Basis Of Presentation [Line Items] | |||||||
Number of retail electronics stores sold | Store | 6 | ||||||
Verablue Caribbean Group, S.R.L. ("Verablue") [Member] | Dominican Republic [Member] | |||||||
Basis Of Presentation [Line Items] | |||||||
Number of retail electronics stores sold | Store | 7 |
Discontinued Operations - Addit
Discontinued Operations - Additional Information (Detail) | 9 Months Ended |
Oct. 30, 2021USD ($)BusinessUnit | |
OneClick Argentino and Verablue Caribbean [Member] | |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |
Loss on sale of business units | $ | $ (136,000) |
OneClick International [Member] | |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |
Number of business units | BusinessUnit | 2 |
Discontinued Operations - Resul
Discontinued Operations - Results of Discontinued Operations (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
Oct. 31, 2020 | Oct. 31, 2020 | |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Net sales | $ 407 | |
Cost of sales | 319 | |
Gross profit | 88 | |
Selling, general and administrative expenses | 198 | |
Operating loss | (110) | |
Other income (expense), net | $ 51 | (75) |
Income (loss) from discontinued operations before income taxes | 51 | (185) |
Net income (loss) from discontinued operations | 51 | (185) |
Verykool [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Selling, general and administrative expenses | 6 | |
Operating loss | (6) | |
Other income (expense), net | 51 | 54 |
Income (loss) from discontinued operations before income taxes | 51 | 48 |
Net income (loss) from discontinued operations | $ 51 | 48 |
Verablue Caribbean [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Net sales | 407 | |
Cost of sales | 319 | |
Gross profit | 88 | |
Selling, general and administrative expenses | 192 | |
Operating loss | (104) | |
Other income (expense), net | (129) | |
Income (loss) from discontinued operations before income taxes | (233) | |
Net income (loss) from discontinued operations | $ (233) |
Stock-Based Compensation - Addi
Stock-Based Compensation - Additional Information (Detail) - USD ($) | 1 Months Ended | 3 Months Ended | 9 Months Ended | ||
Mar. 31, 2020 | Oct. 30, 2021 | Oct. 30, 2021 | Oct. 31, 2020 | Jan. 30, 2021 | |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares outstanding under equity incentive plans | 855,000 | 855,000 | 855,000 | ||
Stock issued during period, values | $ 216,000 | ||||
Reduction in value of warrants | 89,000 | ||||
Compensation expense | 127,000 | ||||
Number of shares granted | 0 | ||||
Number of shares granted, value | $ 2,000,000 | ||||
Stock-based compensation expense | $ 76,000 | $ 673,000 | |||
Stock options granted under equity incentive plans | 180,000,000 | ||||
Expected life | 5 years | ||||
Fair value assumption, risk-free interest rates, minimum | 0.20% | ||||
Fair value assumption, risk-free interest rates, maximum | 0.30% | ||||
Expected dividend yield | 0.00% | ||||
Common Stock [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares granted | 1,068,000 | 575,000 | |||
Fair value assumption, expected volatility | 95.00% | ||||
Immediate Vesting Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Expected life | 2 years 6 months | ||||
Graded Vested Options [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Expected life | 3 years 3 months 14 days | ||||
Director | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Number of shares granted | 295,000 | ||||
Number of shares granted, value | $ 390,000 | ||||
Unregistered Shares [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock issued during period, shares | 300,000 | ||||
Reduction of warrants | 300,000 | ||||
Restricted Stock Award [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock-based compensation expense | $ 76,000 | $ 77,000 | |||
Stock Option [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Stock-based compensation expense | $ 79,000 | ||||
2015 Equity Incentive Plan [Member] | |||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||
Shares outstanding under equity incentive plans | 855,000 | 855,000 | |||
Common stock available for future issuance | 1,067,000 | 1,067,000 |
Stock-Based Compensation - Summ
Stock-Based Compensation - Summary of Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands | 9 Months Ended | |
Oct. 30, 2021 | Oct. 31, 2020 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Shares, Outstanding, Beginning balance | 855,000 | |
Shares, Granted | 180,000,000 | |
Shares, Outstanding, Ending balance | 855,000 | |
Shares, Vested and expected to vest | 855,000 | |
Shares, Exercisable | 707,000 | |
Non-vested at October 30, 2021 | 148,000 | |
Wtd. Avg. Exercise Price, Outstanding, Ending balance | $ 1.676 | |
Wtd. Avg. Exercise Price, Vested and expected to vest | 1.676 | |
Wtd. Avg. Exercise Price, Exercisable | 1.690 | |
Wtd. Avg. Exercise Price, Non-vested | $ 1.611 | |
Wtd. Avg. Remaining Contractual Life in Years, Outstanding | 4 years | |
Wtd. Avg. Remaining Contractual Life in Years, Vested and expected to vest | 4 years | |
Wtd. Avg. Remaining Contractual Life in Years, Exercisable | 4 years 3 days | |
Wtd. Avg. Remaining Contractual Life in Years, Non-vested | 3 years 11 months 8 days | |
Aggregate Intrinsic Value, Outstanding | $ 1,082 | |
Aggregate Intrinsic Value, Vested and expected to vest | 1,082 | |
Aggregate Intrinsic Value, Exercisable | 887 | |
Aggregate Intrinsic Value, Non-vested | $ 195 |
Stock-Based Compensation - Su_2
Stock-Based Compensation - Summary of Option Activity (Parenthetical) (Detail) | 9 Months Ended |
Oct. 30, 2021$ / shares | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Non-vested, Weighted average grant-date fair value | $ 1.06 |
Closing stock price | $ 2.925 |
Earnings Per Share - Additional
Earnings Per Share - Additional Information (Detail) - shares | 3 Months Ended | 9 Months Ended | ||
Oct. 30, 2021 | Oct. 31, 2020 | Oct. 30, 2021 | Oct. 31, 2020 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities excluded from computation of earnings per share | 1,677,000 | 2,293,000 | 1,677,000 | 2,293,000 |
In The Money Common Share Equivalents [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||||
Anti-dilutive securities excluded from computation of earnings per share | 3,857,000 | 702,000 | 3,857,000 | 312,000 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 9 Months Ended | |
Oct. 30, 2021 | Jan. 30, 2021 | |
Income Tax Contingency [Line Items] | ||
Cumulative effect on retained deficit | $ (60,569,000) | $ (55,919,000) |
Unrecognized tax benefits | $ 0 | |
Earliest Tax Year [Member] | ||
Income Tax Contingency [Line Items] | ||
Open tax year | 2016 | |
Latest Tax Year [Member] | ||
Income Tax Contingency [Line Items] | ||
Open tax year | 2020 | |
Cumulative Effect Period of Adoption Adjustment [Member] | Restatement Adjustment [Member] | ||
Income Tax Contingency [Line Items] | ||
Cumulative effect on retained deficit | $ 0 |
Inventory - Additional Informat
Inventory - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Oct. 30, 2021 | Oct. 31, 2020 | Oct. 30, 2021 | Oct. 31, 2020 | |
Inventory Disclosure [Abstract] | ||||
Inventory write-downs | $ 332,000 | $ 159,000 | $ 332,000 | $ 260,000 |
Property and Equipment - Summar
Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands | Oct. 30, 2021 | Jan. 30, 2021 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 4,595 | $ 2,472 |
Less accumulated depreciation | (1,436) | (1,171) |
Total | 3,159 | 1,301 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 481 | 240 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 1,205 | 666 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 2,909 | $ 1,566 |
Property and Equipment - Additi
Property and Equipment - Additional Information (Detail) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Oct. 30, 2021 | Oct. 31, 2020 | Oct. 30, 2021 | Oct. 31, 2020 | |
Property Plant And Equipment [Abstract] | ||||
Depreciation and amortization expense | $ 201 | $ 127 | $ 522 | $ 399 |
Intangible Asset and Goodwill -
Intangible Asset and Goodwill - Additional Information (Detail) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Oct. 30, 2021 | Oct. 31, 2020 | Oct. 30, 2021 | Oct. 31, 2020 | Jan. 30, 2021 | |
Acquired Finite Lived Intangible Assets [Line Items] | |||||
Amortization expense | $ 36,000 | $ 35,000 | $ 106,000 | $ 105,000 | |
Goodwill | $ 699,000 | 699,000 | $ 699,000 | ||
Impairment charges | $ 0 | $ 0 | |||
Simply Mac, Inc. [Member] | Tradenames [Member] | |||||
Acquired Finite Lived Intangible Assets [Line Items] | |||||
Amortization period | 15 years | ||||
Simply Inc Domain Name [Member] | |||||
Acquired Finite Lived Intangible Assets [Line Items] | |||||
Amortization period | 5 years | ||||
SimplyDeals Domain Name [Member] | |||||
Acquired Finite Lived Intangible Assets [Line Items] | |||||
Amortization period | 5 years |
Intangible Asset and Goodwill_2
Intangible Asset and Goodwill - Summary of Definite-Lived Intangible Assets Arose From Acquisition (Detail) - USD ($) $ in Thousands | Oct. 30, 2021 | Jan. 30, 2021 |
Acquired Finite Lived Intangible Assets [Line Items] | ||
Definite-lived intangible assets, gross | $ 2,110 | $ 2,102 |
Less accumulated amortization | (295) | (189) |
Total | 1,815 | 1,913 |
Simply Mac, Inc. [Member] | ||
Acquired Finite Lived Intangible Assets [Line Items] | ||
Definite-lived intangible assets, gross | 2,092 | 2,092 |
Simply Inc Domain Name [Member] | ||
Acquired Finite Lived Intangible Assets [Line Items] | ||
Definite-lived intangible assets, gross | 10 | $ 10 |
SimplyDeals Domain Name [Member] | ||
Acquired Finite Lived Intangible Assets [Line Items] | ||
Definite-lived intangible assets, gross | $ 8 |
Accrued Expenses - Schedule of
Accrued Expenses - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands | Oct. 30, 2021 | Jan. 30, 2021 |
Payables And Accruals [Abstract] | ||
Accrued compensation (wages, benefits, severance, vacation) | $ 937 | $ 1,187 |
Customer deposits and overpayments | 1,670 | 880 |
Accrued interest | 192 | 113 |
Accrued sales tax | 617 | 561 |
Accrued income taxes | 240 | 243 |
Other accruals | 327 | 564 |
Total | $ 3,983 | $ 3,548 |
Notes Payable - Schedule of Not
Notes Payable - Schedule of Notes Payable (Detail) - USD ($) $ in Thousands | Oct. 30, 2021 | Jan. 30, 2021 | Mar. 31, 2020 | Feb. 29, 2020 |
Debt Instrument [Line Items] | ||||
Total face amount | $ 3,250 | $ 4,348 | $ 1,800 | $ 16,400 |
Amount classified as current | 178 | 2,478 | ||
Amount classified as long-term | 3,072 | 1,870 | ||
6% Promissory Note Due February 17, 2024 [Member] | ||||
Debt Instrument [Line Items] | ||||
Total face amount | 1,250 | 1,250 | ||
1% Promissory Note Due April 16, 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Total face amount | $ 3,098 | |||
1% Promissory Note Due March 10, 2026 [Member] | ||||
Debt Instrument [Line Items] | ||||
Total face amount | $ 2,000 |
Notes Payable - Schedule of N_2
Notes Payable - Schedule of Notes Payable (Parenthetical) (Detail) - Notes Payable [Member] | 9 Months Ended | 12 Months Ended |
Oct. 30, 2021 | Jan. 30, 2021 | |
6% Promissory Note Due February 17, 2024 [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, interest rate | 6.00% | 6.00% |
Notes payable, maturity date | Feb. 17, 2024 | Feb. 17, 2024 |
1% Promissory Note Due April 16, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, interest rate | 1.00% | 1.00% |
Notes payable, maturity date | Apr. 16, 2022 | Apr. 16, 2022 |
1% Promissory Note Due March 10, 2026 [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, interest rate | 1.00% | 1.00% |
Notes payable, maturity date | Mar. 10, 2026 | Mar. 10, 2026 |
Notes Payable - Additional Info
Notes Payable - Additional Information (Detail) | Oct. 28, 2021 | Mar. 10, 2021USD ($) | Oct. 19, 2020 | Apr. 16, 2020USD ($) | Mar. 11, 2020USD ($) | Sep. 25, 2019USD ($)Installment | Oct. 30, 2021USD ($) | Oct. 31, 2020USD ($) | Oct. 30, 2021USD ($) | Oct. 31, 2020USD ($) | Jan. 30, 2021USD ($) | Mar. 31, 2020USD ($) | Feb. 29, 2020USD ($) |
Debt Instrument [Line Items] | |||||||||||||
Notes payable, outstanding amount | $ 3,250,000 | $ 3,250,000 | $ 4,348,000 | $ 1,800,000 | $ 16,400,000 | ||||||||
(Loss) gain on debt conversion | 3,139,000 | 3,139,000 | $ 13,642,000 | ||||||||||
Interest expense | 821,000 | $ 35,000 | $ 1,001,000 | 995,000 | |||||||||
Decrease in derivative liability | 543,000 | ||||||||||||
CARES Act [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Percentage of loaned funds utilized | 100.00% | ||||||||||||
Paycheck Protection Program [Member] | CARES Act [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Notes payable, issued amount | $ 2,000,000 | $ 3,098,000 | |||||||||||
Notes payable, interest rate | 1.00% | 1.00% | |||||||||||
Notes payable, maturity date | Mar. 10, 2026 | ||||||||||||
Notes payable, amount | $ 0 | ||||||||||||
Note payable, frequency of periodic payment | equal monthly | ||||||||||||
Bank loan maturity term | 5 years | 2 years | |||||||||||
Percentage of loaned funds utilized | 100.00% | ||||||||||||
Date of loan extinguished | Aug. 17, 2021 | ||||||||||||
Debt instrument, payment terms | No payments are due on this loan until the earlier of: (a) the date on which the amount of loan forgiveness determined under the CARES Act is remitted to the Lender by the SBA, (b) the date that the SBA advises Lender that all or part of the loan has not been forgiven, provided that the Company has applied for forgiveness within 10 months of the end of the forgiveness period of the loan or (c) if the Borrower fails to apply for forgiveness by the end of the forgiveness period, a date that is not earlier than the date that is 10 months after the last day of the forgiveness period. In accordance with the applicable provisions of the CARES Act, on October 28, 2021, the Company filed its forgiveness application with the Lender. The Company certified in the application that 100% of the loaned funds were utilized during the 22-week covered period commencing March 10, 2021 to pay for qualified payroll and payroll related costs, and as such, requested that the entire principal balance be forgiven. The application is subject to review by both the Lender and the SBA, after which the Company will be notified as to whether the application is approved. If the application is denied or partially approved, the Company will be required to make equal monthly payments to fully amortize any remaining balance by March 10, 2026. | ||||||||||||
Notes Payable [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Interest expense | $ 25,000 | $ 34,000 | $ 86,000 | $ 325,000 | |||||||||
Notes Payable [Member] | Termination Agreement [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Debt instrument, periodic payment | $ 27,929 | ||||||||||||
Notes payable, amount | $ 335,152 | ||||||||||||
Note payable, frequency of periodic payment | twelve equal monthly installments | ||||||||||||
Notes payable, first monthly installment due date | Apr. 30, 2020 | ||||||||||||
Notes Payable [Member] | Simply Mac, Inc. [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Notes payable, onetime cash payment | $ 250,000 | ||||||||||||
Escrow deposit disbursements | 345,000 | ||||||||||||
(Loss) gain on debt conversion | $ 6,961,000 | ||||||||||||
12% Secured Promissory Note Due September 2020 [Member] | Notes Payable [Member] | Simply Mac, Inc. [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Notes payable, issued amount | $ 7,858,000 | ||||||||||||
Notes payable, interest rate | 12.00% | ||||||||||||
Debt instrument, periodic payment | $ 1,965,000 | ||||||||||||
Number of equal installments of principal value of note | Installment | 4 | ||||||||||||
Installment period of note | 3 months | ||||||||||||
Notes payable, outstanding amount | $ 7,858,000 | ||||||||||||
Amended Promissory Note [Member] | Notes Payable [Member] | Simply Mac, Inc. [Member] | |||||||||||||
Debt Instrument [Line Items] | |||||||||||||
Notes payable, interest rate | 6.00% | ||||||||||||
Notes payable, outstanding amount | $ 1,250,000 | ||||||||||||
Notes payable, maturity date | Feb. 17, 2024 |
Related Parties - Summary of No
Related Parties - Summary of Notes Payable to Related Parties (Detail) - USD ($) | Oct. 31, 2021 | Oct. 30, 2021 | Oct. 21, 2021 | Oct. 14, 2021 | Aug. 05, 2021 | Jul. 06, 2021 | Jan. 30, 2021 | Mar. 31, 2020 | Feb. 29, 2020 |
Debt Instrument [Line Items] | |||||||||
Total face amount | $ 3,250,000 | $ 4,348,000 | $ 1,800,000 | $ 16,400,000 | |||||
Amount classified as current | 178,000 | 2,478,000 | |||||||
Notes payable | $ 3,072,000 | 1,870,000 | |||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Unamortized discount | $ (272,000) | ||||||||
9% Unsecured Convertible Note Due February 5, 2022 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Unamortized discount | $ (314,000) | ||||||||
9% Unsecured Convertible Note Due April 14, 2022 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Unamortized discount | $ (650,000) | ||||||||
9% Unsecured Convertible Note Due April 21, 2022 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Unamortized discount | $ (665,000) | ||||||||
Notes Payable To Related Parties [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Total face amount | $ 3,500,000 | 400,000 | |||||||
Unamortized discount | (1,901,000) | ||||||||
Total carrying value | 1,599,000 | 400,000 | |||||||
Amount classified as current | 1,599,000 | 400,000 | |||||||
Notes Payable To Related Parties [Member] | 18% Promissory Note Due April 21, 2021 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Total face amount | $ 400,000 | ||||||||
Notes Payable To Related Parties [Member] | 9% Unsecured Convertible Note Due January 6, 2022 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Total face amount | 1,000,000 | ||||||||
Notes Payable To Related Parties [Member] | 9% Unsecured Convertible Note Due February 5, 2022 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Total face amount | 1,000,000 | ||||||||
Notes Payable To Related Parties [Member] | 9% Unsecured Convertible Note Due April 14, 2022 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Total face amount | 750,000 | ||||||||
Notes Payable To Related Parties [Member] | 9% Unsecured Convertible Note Due April 21, 2022 [Member] | |||||||||
Debt Instrument [Line Items] | |||||||||
Total face amount | $ 750,000 |
Related Parties - Summary of _2
Related Parties - Summary of Notes Payable to Related Parties (Parenthetical) (Detail) - Notes Payable To Related Parties [Member] | Jan. 30, 2021 | Oct. 30, 2021 | Jan. 30, 2021 | Jan. 21, 2021 |
Debt Instrument [Line Items] | ||||
Notes payable, interest rate | 18.00% | |||
Notes payable, maturity date | Apr. 21, 2021 | |||
18% Promissory Note Due April 21, 2021 [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes payable, interest rate | 18.00% | 18.00% | 18.00% | |
Notes payable, maturity date | Apr. 21, 2021 | Apr. 21, 2021 | ||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes payable, interest rate | 9.00% | 9.00% | 9.00% | |
Notes payable, maturity date | Jan. 6, 2022 | Jan. 6, 2022 | ||
9% Unsecured Convertible Note Due February 5, 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes payable, interest rate | 9.00% | 9.00% | 9.00% | |
Notes payable, maturity date | Feb. 5, 2022 | Feb. 5, 2022 | ||
9% Unsecured Convertible Note Due April 14, 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes payable, interest rate | 9.00% | 9.00% | 9.00% | |
Notes payable, maturity date | Apr. 14, 2022 | Apr. 14, 2022 | ||
9% Unsecured Convertible Note Due April 21, 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes payable, interest rate | 9.00% | 9.00% | 9.00% | |
Notes payable, maturity date | Apr. 21, 2022 | Apr. 21, 2022 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) - USD ($) | Oct. 21, 2021 | Oct. 14, 2021 | Aug. 05, 2021 | Jul. 06, 2021 | Jan. 30, 2021 | Oct. 30, 2021 | Oct. 30, 2021 | Oct. 31, 2020 | Oct. 30, 2021 | Oct. 31, 2020 | Jan. 30, 2021 | Oct. 31, 2021 | Apr. 30, 2021 | Jan. 21, 2021 | Mar. 31, 2020 | Feb. 29, 2020 |
Debt Instrument [Line Items] | ||||||||||||||||
Notes payable, outstanding amount | $ 4,348,000 | $ 3,250,000 | $ 3,250,000 | $ 3,250,000 | $ 4,348,000 | $ 1,800,000 | $ 16,400,000 | |||||||||
Interest expense | $ 821,000 | $ 35,000 | 1,001,000 | $ 995,000 | ||||||||||||
Accretion of discount | $ 846,000 | $ 666,000 | ||||||||||||||
Lease term | 3 years | 3 years | 3 years | |||||||||||||
Operating lease, monthly rent expense | $ 5,250 | |||||||||||||||
Common Stock [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt exchange conversion price per unit | $ 1.70 | |||||||||||||||
Warrants exercisable into shares of common stock | 246,672 | |||||||||||||||
Exercise price of warrants, per share | $ 0.50 | |||||||||||||||
EV Toys LLC [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Purchases of products from related party | $ 502,000 | $ 612,000 | ||||||||||||||
Accounts payable, outstanding balance | 471,000 | 471,000 | 471,000 | |||||||||||||
Smash Technologies LLC [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Purchases of products from related party | 920,000 | 1,237,000 | ||||||||||||||
Accounts payable, outstanding balance | $ 1,233,000 | 1,233,000 | 1,233,000 | |||||||||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt discount being amortized to interest expense term | 6 months | |||||||||||||||
Unamortized discount | $ 272,000 | |||||||||||||||
Interest expense | 392,000 | 500,000 | ||||||||||||||
Accretion of discount | 369,000 | 471,000 | ||||||||||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | Common Stock [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt exchange conversion price per unit | $ 2.50 | |||||||||||||||
Warrants exercisable into shares of common stock | 400,000 | |||||||||||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Exercise price of warrants, per share | $ 2.75 | |||||||||||||||
Warrants exercisable beginning period | 6 months | |||||||||||||||
Warrants exercisable expiration period | 42 months | |||||||||||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Fair value assumption | 108 | |||||||||||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Estimated Life [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Estimated life | 3 years 6 months | |||||||||||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Fair value assumption | 0.52 | |||||||||||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | Unsecured Convertible Notes and Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants value | $ 743,000 | |||||||||||||||
Effective annual interest rate | 324.00% | |||||||||||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | SOL Global [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Ownership percentage | 10.00% | |||||||||||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | SOL Global [Member] | Unsecured Convertible Notes and Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Notes payable, interest rate | 9.00% | |||||||||||||||
Convertible notes amount | $ 1,000,000 | |||||||||||||||
Convertible notes term | 6 months | |||||||||||||||
9% Unsecured Convertible Note Due February 5, 2022 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt discount being amortized to interest expense term | 6 months | |||||||||||||||
Unamortized discount | $ 314,000 | |||||||||||||||
Interest expense | 300,000 | 300,000 | ||||||||||||||
Accretion of discount | 279,000 | 279,000 | ||||||||||||||
9% Unsecured Convertible Note Due February 5, 2022 [Member] | Common Stock [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants exercisable into shares of common stock | 400,000 | |||||||||||||||
9% Unsecured Convertible Note Due February 5, 2022 [Member] | Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants exercisable beginning period | 6 months | |||||||||||||||
Warrants exercisable expiration period | 42 months | |||||||||||||||
9% Unsecured Convertible Note Due February 5, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Fair value assumption | 108 | |||||||||||||||
9% Unsecured Convertible Note Due February 5, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Estimated Life [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Estimated life | 3 years 6 months | |||||||||||||||
9% Unsecured Convertible Note Due February 5, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Fair value assumption | 0.46 | |||||||||||||||
9% Unsecured Convertible Note Due February 5, 2022 [Member] | Unsecured Convertible Notes and Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants value | $ 593,000 | |||||||||||||||
Effective annual interest rate | 168.00% | |||||||||||||||
9% Unsecured Convertible Note Due February 5, 2022 [Member] | SOL Global [Member] | Unsecured Convertible Notes and Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Notes payable, issued amount | $ 1,000,000 | |||||||||||||||
Notes payable, interest rate | 900.00% | |||||||||||||||
Convertible notes term | 6 months | |||||||||||||||
9% Unsecured Convertible Note Due April 14, 2022 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt discount being amortized to interest expense term | 6 months | |||||||||||||||
Unamortized discount | $ 650,000 | |||||||||||||||
Interest expense | 65,000 | 65,000 | ||||||||||||||
Accretion of discount | 62,000 | 62,000 | ||||||||||||||
9% Unsecured Convertible Note Due April 14, 2022 [Member] | Common Stock [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants exercisable into shares of common stock | 300,000 | |||||||||||||||
9% Unsecured Convertible Note Due April 14, 2022 [Member] | Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants exercisable beginning period | 6 months | |||||||||||||||
Warrants exercisable expiration period | 42 months | |||||||||||||||
9% Unsecured Convertible Note Due April 14, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Fair value assumption | 108 | |||||||||||||||
9% Unsecured Convertible Note Due April 14, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Estimated Life [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Estimated life | 3 years 6 months | |||||||||||||||
9% Unsecured Convertible Note Due April 14, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Fair value assumption | 0.73 | |||||||||||||||
9% Unsecured Convertible Note Due April 14, 2022 [Member] | Unsecured Convertible Notes and Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants value | $ 712,000 | |||||||||||||||
Effective annual interest rate | 2052.00% | |||||||||||||||
9% Unsecured Convertible Note Due April 14, 2022 [Member] | SOL Global [Member] | Unsecured Convertible Notes and Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Notes payable, issued amount | $ 750,000 | |||||||||||||||
Notes payable, interest rate | 900.00% | |||||||||||||||
Convertible notes term | 6 months | |||||||||||||||
9% Unsecured Convertible Note Due April 21, 2022 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Debt discount being amortized to interest expense term | 6 months | |||||||||||||||
Unamortized discount | $ 665,000 | |||||||||||||||
Interest expense | 36,000 | 36,000 | ||||||||||||||
Accretion of discount | 34,000 | 34,000 | ||||||||||||||
9% Unsecured Convertible Note Due April 21, 2022 [Member] | Common Stock [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants exercisable into shares of common stock | 300,000 | |||||||||||||||
9% Unsecured Convertible Note Due April 21, 2022 [Member] | Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants exercisable beginning period | 6 months | |||||||||||||||
Warrants exercisable expiration period | 42 months | |||||||||||||||
9% Unsecured Convertible Note Due April 21, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Fair value assumption | 108 | |||||||||||||||
9% Unsecured Convertible Note Due April 21, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Estimated Life [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Estimated life | 3 years 6 months | |||||||||||||||
9% Unsecured Convertible Note Due April 21, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Risk Free Interest Rate [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Fair value assumption | 0.89 | |||||||||||||||
9% Unsecured Convertible Note Due April 21, 2022 [Member] | Unsecured Convertible Notes and Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Warrants value | $ 700,000 | |||||||||||||||
Effective annual interest rate | 1530.00% | |||||||||||||||
9% Unsecured Convertible Note Due April 21, 2022 [Member] | SOL Global [Member] | Unsecured Convertible Notes and Warrants [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Notes payable, issued amount | $ 750,000 | |||||||||||||||
Notes payable, interest rate | 900.00% | |||||||||||||||
Convertible notes term | 6 months | |||||||||||||||
Notes Payable To Related Parties [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Notes payable, issued amount | $ 400,000 | |||||||||||||||
Notes payable, outstanding amount | $ 400,000 | $ 400,000 | $ 3,500,000 | |||||||||||||
Notes payable, maturity date | Apr. 21, 2021 | |||||||||||||||
Notes payable, one-time fee | $ 20,000 | |||||||||||||||
Notes payable, interest rate | 18.00% | |||||||||||||||
Interest expense on note | 9,000 | |||||||||||||||
Unamortized discount | 1,901,000 | |||||||||||||||
Interest expense | 793,000 | 910,000 | ||||||||||||||
Accretion of discount | $ 744,000 | $ 846,000 | ||||||||||||||
Notes Payable To Related Parties [Member] | 9% Unsecured Convertible Note Due January 6, 2022 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Notes payable, outstanding amount | 1,000,000 | |||||||||||||||
Notes payable, maturity date | Jan. 6, 2022 | Jan. 6, 2022 | ||||||||||||||
Notes payable, interest rate | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | |||||||||||
Notes Payable To Related Parties [Member] | 9% Unsecured Convertible Note Due February 5, 2022 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Notes payable, outstanding amount | 1,000,000 | |||||||||||||||
Notes payable, maturity date | Feb. 5, 2022 | Feb. 5, 2022 | ||||||||||||||
Notes payable, interest rate | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | |||||||||||
Notes Payable To Related Parties [Member] | 9% Unsecured Convertible Note Due April 14, 2022 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Notes payable, outstanding amount | 750,000 | |||||||||||||||
Notes payable, maturity date | Apr. 14, 2022 | Apr. 14, 2022 | ||||||||||||||
Notes payable, interest rate | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% | |||||||||||
Notes Payable To Related Parties [Member] | 9% Unsecured Convertible Note Due April 21, 2022 [Member] | ||||||||||||||||
Debt Instrument [Line Items] | ||||||||||||||||
Notes payable, outstanding amount | $ 750,000 | |||||||||||||||
Notes payable, maturity date | Apr. 21, 2022 | Apr. 21, 2022 | ||||||||||||||
Notes payable, interest rate | 9.00% | 9.00% | 9.00% | 9.00% | 9.00% |
Capital Stock - Additional Info
Capital Stock - Additional Information (Detail) | Sep. 15, 2021USD ($)$ / sharesshares | Apr. 30, 2021USD ($)$ / sharesshares | Oct. 14, 2020shares | Mar. 31, 2020USD ($)ConvertibleNote$ / sharesshares | Sep. 30, 2021USD ($)PrivatePlacement$ / sharesshares | Oct. 30, 2021USD ($)shares | Oct. 30, 2021USD ($)shares | Oct. 31, 2020USD ($) | Dec. 31, 2019USD ($)shares | Jan. 30, 2021USD ($) | Feb. 29, 2020USD ($) |
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Promissory note principal amount | $ 1,800,000 | $ 3,250,000 | $ 3,250,000 | $ 4,348,000 | $ 16,400,000 | ||||||
Gain on extinguishment of debt | 3,139,000 | $ 3,139,000 | $ 13,642,000 | ||||||||
Debt conversion, description | Company entered into an additional debt restructuring that resulted in the conversion of debt with an aggregate principal amount of $7,492,000 and accrued interest of $691,000 into common stock of the Company. The carrying value of the debt and related derivative liability at the time of extinguishment amounted to $8,341,000. The aggregate total of $8,183,000 was converted into 4,814,000 shares of common stock at $1.70 per share. | ||||||||||
Debt conversion, aggregate principal amount | 7,492,000 | ||||||||||
Debt conversion, accrued interest | 691,000 | ||||||||||
Debt aggregate conversion amount | $ 8,183,000 | ||||||||||
Common stock issued | shares | 0 | ||||||||||
Common stock issued, value | 2,000,000 | ||||||||||
Reverse stock split | one-for-ten | ||||||||||
Stock split, conversion ratio | 0.1 | ||||||||||
Aggregate cash proceeds | $ 124,000 | $ 123,000 | |||||||||
Issuance of shares in payment of services | $ 250,000 | ||||||||||
Private Placement [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Proceeds from common stock issue | $ 2,000,000 | ||||||||||
Number of private placements | PrivatePlacement | 4 | ||||||||||
Common Stock [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Debt exchange conversion units | shares | 4,814,000 | ||||||||||
Debt exchange conversion price per unit | $ / shares | $ 1.70 | ||||||||||
Gain on extinguishment of debt | $ 6,472,000 | ||||||||||
Debt and related derivative liability at the time of extinguishment | 8,341,000 | ||||||||||
Combined value of stock issued in conversion | $ 1,869,000 | ||||||||||
Common stock issued | shares | 1,068,000 | 575,000 | |||||||||
Reverse stock split | 1-for-10 | ||||||||||
Stock split, conversion ratio | 0.1 | ||||||||||
Stock issued during period, shares, reverse stock splits | shares | 2,000 | ||||||||||
Common stock exercised warrants | shares | 246,672 | ||||||||||
Strike price | $ / shares | $ 0.50 | ||||||||||
Issuance of shares in payment of services, shares | shares | 63,000 | ||||||||||
Common Stock [Member] | Vendor [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Shares price | $ / shares | $ 3.94 | ||||||||||
Issuance of shares in payment of services, shares | shares | 63,452 | ||||||||||
Issuance of shares in payment of services | $ 250,000 | ||||||||||
Common Stock [Member] | Private Placement [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Common stock issued | shares | 575,527 | ||||||||||
Shares price | $ / shares | $ 3.48 | ||||||||||
Common Stock [Member] | Private Placement [Member] | SOL Verano Blocker One LLC [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Proceeds from common stock issue | $ 500,000 | ||||||||||
Common Stock [Member] | Other Expenses [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Common stock issued | shares | 1,040,000 | ||||||||||
Common stock issued, value | $ 415,000 | ||||||||||
Common Stock [Member] | Simply Mac, Inc. [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Common stock issued | shares | 1,040,000 | ||||||||||
Exchange [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Number of convertible notes exchanged into common stock | ConvertibleNote | 2 | ||||||||||
Promissory note principal amount | $ 434,000 | ||||||||||
Promissory notes accrued interest | 8,000 | ||||||||||
Debt exchange conversion aggregate amount | 35,000 | ||||||||||
Gain on extinguishment of debt | $ 204,000 | ||||||||||
Exchange [Member] | Common Stock [Member] | |||||||||||
Subsidiary Sale Of Stock [Line Items] | |||||||||||
Debt exchange conversion units | shares | 86,800 | ||||||||||
Debt exchange conversion price per unit | $ / shares | $ 5.10 |
Recent Accounting Pronounceme_3
Recent Accounting Pronouncements - Additional Information (Detail) | Oct. 30, 2021 |
Accounting Standards Update 2017-04 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in accounting principle, accounting standards update, adopted | true |
Change in accounting principle, accounting standards update, adoption date | Jan. 1, 2020 |
Change in accounting principle, accounting standards update, immaterial effect | true |
Accounting Standards Update 2018-13 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in accounting principle, accounting standards update, adopted | true |
Change in accounting principle, accounting standards update, adoption date | Jan. 1, 2020 |
Change in accounting principle, accounting standards update, immaterial effect | true |
Accounting Standards Update 2020-06 [Member] | |
New Accounting Pronouncements Or Change In Accounting Principle [Line Items] | |
Change in accounting principle, accounting standards update, adoption date | Jan. 31, 2021 |
Change in accounting principle, accounting standards update, early adoption | true |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) | 3 Months Ended | 9 Months Ended | |||||
Oct. 30, 2021USD ($) | Oct. 31, 2020USD ($) | Oct. 30, 2021USD ($)ft² | Oct. 31, 2020USD ($) | Jan. 30, 2021USD ($) | Oct. 02, 2020USD ($) | Oct. 01, 2020USD ($) | |
Loss Contingencies [Line Items] | |||||||
Lease expiration term | 2028-06 | ||||||
Area of small stores | ft² | 1,000 | ||||||
Lease term | 3 years | 3 years | |||||
Operating lease, expense | $ 1,249,000 | $ 1,169,000 | $ 3,647,000 | $ 3,608,000 | |||
Inventory Supplier [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Line of credit | $ 3,000,000 | ||||||
Inventory Supplier [Member] | Security Agreement [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Line of credit | $ 6,600,000 | ||||||
Outstanding payable to related party | $ 6,296,000 | $ 6,296,000 | $ 6,016,000 | ||||
Maximum [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Area of larger stores | ft² | 5,200 | ||||||
Lease initial term | 5 years | ||||||
Lease term | 7 years | 7 years | |||||
Minimum [Member] | |||||||
Loss Contingencies [Line Items] | |||||||
Lease initial term | 3 years |
Commitments and Contingencies_2
Commitments and Contingencies - Schedule of Supplemental Lease Information (Detail) - USD ($) $ in Thousands | Oct. 30, 2021 | Jan. 30, 2021 |
Leases [Abstract] | ||
Operating right of use assets | $ 10,978 | $ 9,121 |
Current operating lease liabilities | 2,192 | 2,717 |
Long-term operating lease liabilities | $ 9,758 | $ 6,736 |
Weighted-average remaining lease term in years | 4 years 5 months 19 days | |
Weighted-average discount rate | 12.00% |
Commitments and Contingencies_3
Commitments and Contingencies - Schedule of Maturities of Operating Lease Liabilities (Detail) - USD ($) $ in Thousands | Oct. 30, 2021 | Jan. 30, 2021 |
Leases [Abstract] | ||
2022 (remaining three months) | $ 1,043 | |
2023 | 4,097 | |
2024 | 3,603 | |
2025 | 2,890 | |
2026 | 2,342 | |
Thereafter | 1,678 | |
Total lease payments | 15,653 | |
Less: interest | (3,703) | |
Total | 11,950 | |
Less: current portion | 2,192 | $ 2,717 |
Long-term portion | $ 9,758 | $ 6,736 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments - Summary of Financial Assets and Liabilities Measured at Fair Value (Detail) - Recurring [Member] - Level 3 [Member] - Derivative Liability [Member] $ in Thousands | 6 Months Ended |
Aug. 01, 2020USD ($) | |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | |
Beginning Balance | $ 2,527 |
Change in fair value of derivative liability | (543) |
Extinguishment of derivative liability resulting from debt conversion | $ (1,984) |
Sale of Latin American Subsid_2
Sale of Latin American Subsidiaries - Additional Information (Detail) - Definitive Agreement [Member] | Apr. 06, 2020USD ($)Store | Jan. 31, 2020USD ($)Store |
OneClick Argentino S.R.L [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Discontinued operation, debt | $ 321,000 | |
Verablue Caribbean Group, S.R.L. ("Verablue") [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Proceeds from sale of business | $ 100,000 | |
Verablue Caribbean Group, S.R.L. ("Verablue") [Member] | 6-Month Installment Promissory Note [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Proceeds from sale of business | $ 100,000 | |
Argentina [Member] | OneClick Argentino S.R.L [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Number of retail consumer electronics stores | Store | 6 | |
Dominican Republic [Member] | Verablue Caribbean Group, S.R.L. ("Verablue") [Member] | ||
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | ||
Number of retail consumer electronics stores | Store | 7 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - USD ($) | Nov. 23, 2021 | Nov. 05, 2021 |
Loan and Security Agreement [Member] | Line Financial Corp. [Member] | ||
Subsequent Event [Line Items] | ||
Debt instrument face amount | $ 6,000,000 | |
Loan, maximum amount available for borrow | $ 6,000,000 | |
Loan, description | No advances can be made after January 31, 2022. | |
Loan, purchase inventory for upcoming holiday season amount | $ 500,000 | |
Loan, weekly payment percentage | 75.00% | |
Note payable, frequency of periodic payment | Interest is accrued daily and payable monthly. | |
Loan, fee amount | $ 120,000 | |
Notes payable, maturity date | Nov. 23, 2022 | |
Prime Rate [Member] | Loan and Security Agreement [Member] | Line Financial Corp. [Member] | ||
Subsequent Event [Line Items] | ||
Loan, interest rate percentage | 6.75% | |
Floor Rate [Member] | Loan and Security Agreement [Member] | Line Financial Corp. [Member] | ||
Subsequent Event [Line Items] | ||
Loan, interest rate percentage | 3.25% | |
9% Unsecured Convertible Note Due January 2022 [Member] | SOL Global [Member] | ||
Subsequent Event [Line Items] | ||
Debt instrument face amount | $ 500,000 | |
Debt instrument, term | 6 months | |
Notes payable, interest rate | 9.00% | |
Warrants exercisable into shares of common stock | 200,000 | |
Initial holding period for exercise of warrant | 6 months | |
Warrants expiration term | 42 months |