Document and Entity Information
Document and Entity Information - USD ($) | 12 Months Ended | ||
Jan. 29, 2022 | Apr. 22, 2022 | Jul. 30, 2021 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Period End Date | Jan. 29, 2022 | ||
Document Fiscal Year Focus | 2021 | ||
Document Fiscal Period Focus | FY | ||
Entity Registrant Name | Simply, Inc. | ||
Entity Central Index Key | 0001274032 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Interactive Data Current | Yes | ||
Current Fiscal Year End Date | --01-29 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Public Float | $ 11,274,449 | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Common Stock, Shares Outstanding | 15,500,207 | ||
Entity Shell Company | false | ||
Entity File Number | 001-32217 | ||
Entity Incorporation, State or Country Code | MD | ||
Entity Tax Identification Number | 33-0599368 | ||
Entity Address, Address Line One | 10801 NW 97th Street, Suite 09 | ||
Entity Address, City or Town | Miami | ||
Entity Address, State or Province | FL | ||
Entity Address, Postal Zip Code | 33178 | ||
City Area Code | 786 | ||
Local Phone Number | 254-6709 | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Title of 12(b) Security | Common Stock, par value $0.001 per share | ||
Trading Symbol | SIMP | ||
Security Exchange Name | NONE | ||
Auditor Name | Kaufman, Rossin & Co., a Professional Association | ||
Auditor Firm ID | 137 | ||
Auditor Location | Miami, FL USA | ||
ICFR Auditor Attestation Flag | false | ||
Documents Incorporated by Reference | None. |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) $ in Thousands | Jan. 29, 2022 | Jan. 30, 2021 |
Current assets: | ||
Cash and cash equivalents | $ 1,828 | $ 1,536 |
Restricted cash | 1,255 | 1,310 |
Trade accounts receivable, net of allowance for doubtful accounts of $0 and $6, respectively | 210 | 226 |
Other accounts receivable | 1,364 | 1,180 |
Inventory | 8,089 | 6,750 |
Prepaid assets | 598 | 386 |
Current assets of discontinued operations | 9 | |
Total current assets | 13,344 | 11,397 |
Property and equipment, net | 3,487 | 1,301 |
Operating lease right-of-use assets | 10,778 | 9,121 |
Intangibles | 1,779 | 1,913 |
Goodwill | 699 | 699 |
Other assets | 350 | 292 |
Total assets | 30,437 | 24,723 |
Current liabilities: | ||
Accounts payable | 9,929 | 8,901 |
Accrued expenses and other current liabilities | 4,397 | 3,548 |
Current portion of operating lease liabilities | 2,536 | 2,717 |
Current portion of notes payable | 3,988 | 2,478 |
Notes payable - related party | 400 | |
Current liabilities of discontinued operations | 726 | 868 |
Total current liabilities | 21,576 | 18,912 |
Long-term liabilities: | ||
Notes payable | 2,939 | 1,870 |
Notes payable - related party | 2,189 | |
Operating lease liabilities | 9,699 | 6,736 |
Total long-term liabilities | 14,827 | 8,606 |
Total liabilities | 36,403 | 27,518 |
Commitments and Contingencies (Note 10) | ||
Stockholders’ deficit: | ||
Preferred stock, $0.001 par value, 10,000 shares authorized; 2 shares issued and outstanding as of both periods presented. | ||
Common stock, $0.001 par value, 150,000 shares authorized; 12,886 and 11,465 shares issued and outstanding as of January 29, 2022 and January 30, 2021, respectively. | 13 | 11 |
Additional paid-in capital | 61,069 | 53,128 |
Accumulated other comprehensive loss | (8) | (15) |
Accumulated deficit | (67,040) | (55,919) |
Total stockholders’ deficit | (5,966) | (2,795) |
Total liabilities and stockholders’ deficit | $ 30,437 | $ 24,723 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parenthetical) - USD ($) | Jan. 29, 2022 | Jan. 30, 2021 |
Statement Of Financial Position [Abstract] | ||
Trade accounts receivable, allowance for doubtful accounts | $ 0 | $ 6,000 |
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 | 12,886,000 | 11,465,000 |
Common stock, shares outstanding | 12,886,000 | 11,465,000 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands | 12 Months Ended | |
Jan. 29, 2022 | Jan. 30, 2021 | |
Income Statement [Abstract] | ||
Net sales | $ 79,111 | $ 68,024 |
Cost of sales | 61,588 | 49,672 |
Gross profit | 17,523 | 18,352 |
Selling, general and administrative expenses | 30,014 | 27,197 |
Operating loss | (12,491) | (8,845) |
Other income (expense): | ||
Interest expense | (2,709) | (1,048) |
Gain on extinguishment of debt | 3,139 | 13,642 |
Decrease in fair value of derivative liability | 543 | |
Other income, net | 968 | 160 |
Income (loss) from continuing operations before provision for income taxes | (11,093) | 4,452 |
Provision for income taxes | 28 | 51 |
Income (loss) from continuing operations | (11,121) | 4,401 |
Loss from discontinued operations | (124) | |
Net income (loss) | $ (11,121) | $ 4,277 |
Basic income (loss) per share: | ||
Continuing operations | $ (0.93) | $ 0.44 |
Discontinued operations | (0.01) | |
Total | (0.93) | 0.43 |
Diluted income (loss) per share: | ||
Continuing operations | (0.93) | 0.44 |
Discontinued operations | (0.02) | |
Total | $ (0.93) | $ 0.42 |
Weighted-average number of common shares outstanding: | ||
Basic | 11,982 | 9,929 |
Diluted | 11,982 | 10,078 |
Comprehensive income (loss): | ||
Net income (loss) | $ (11,121) | $ 4,277 |
Foreign currency translation adjustments | 7 | 22 |
Comprehensive income (loss) | $ (11,114) | $ 4,299 |
Consolidated Statements of Stoc
Consolidated Statements of Stockholders' Deficit - USD ($) shares in Thousands, $ in Thousands | Total | Preferred Stock [Member] | Common Stock [Member] | Additional Paid-In Capital [Member] | Accumulated Other Comprehensive Loss [Member] | Accumulated Deficit [Member] |
Beginning Balance at Feb. 01, 2020 | $ (11,272) | $ 4 | $ 49,121 | $ (201) | $ (60,196) | |
Beginning Balance, shares at Feb. 01, 2020 | 2 | 4,378 | ||||
Debt exchange | 2,321 | $ 6 | 2,315 | |||
Debt exchange, shares | 5,969 | |||||
Warrant exercises | 226 | 226 | ||||
Warrant exercises, shares | 453 | |||||
Elimination of other comprehensive loss from sale of foreign subsidiary | 164 | 164 | ||||
Stock-based compensation expense | 1,332 | $ 1 | 1,331 | |||
Stock-based compensation, shares | 599 | |||||
Issuance of shares in payment of accrued severance and board fees | 163 | 163 | ||||
Issuance of shares in payment of accrued severance and board fees, shares | 134 | |||||
Issuance of shares from reverse stock split in lieu of fractional shares, shares | 2 | |||||
Stock repurchase | (28) | (28) | ||||
Stock repurchase, shares | (70) | |||||
Foreign currency translation | 22 | 22 | ||||
Net income (loss) | 4,277 | 4,277 | ||||
Ending Balance at Jan. 30, 2021 | (2,795) | $ 11 | 53,128 | (15) | (55,919) | |
Ending Balance, shares at Jan. 30, 2021 | 2 | 11,465 | ||||
Sale of stock | 2,000 | 2,000 | ||||
Sale of stock, shares | 575 | |||||
Debt conversion | 1,045 | 1,045 | ||||
Debt conversion, shares | 418 | |||||
Warrant exercises | 123 | $ 1 | 122 | |||
Warrant exercises, shares | 247 | |||||
Issuance of warrants with convertible debt | 3,080 | 3,080 | ||||
Stock-based compensation expense | 1,103 | 1,103 | ||||
Stock-based compensation, shares | 91 | |||||
Issuance of shares in payment of accrued severance | 89 | $ 1 | 88 | |||
Issuance of shares in payment of accrued severance, shares | 27 | |||||
Issuance of shares in payment of services | 250 | 250 | ||||
Issuance of shares in payment of services, shares | 63 | |||||
Short-swing profit disgorgement | 253 | 253 | ||||
Foreign currency translation | 7 | 7 | ||||
Net income (loss) | (11,121) | (11,121) | ||||
Ending Balance at Jan. 29, 2022 | $ (5,966) | $ 13 | $ 61,069 | $ (8) | $ (67,040) | |
Ending Balance, shares at Jan. 29, 2022 | 2 | 12,886 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Jan. 29, 2022 | Jan. 30, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) | $ (11,121,000) | $ 4,277,000 |
Loss from discontinued operations | (124,000) | |
Income (loss) from continuing operations | (11,121,000) | 4,401,000 |
Adjustments to reconcile net income (loss) to net cash used in operating activities: | ||
Depreciation and amortization of property and equipment | 737,000 | 534,000 |
Amortization of intangibles | 142,000 | 141,000 |
Accretion of debt discount | 2,270,000 | 666,000 |
Non-cash interest | 232,000 | |
Provision for bad debts | 90,000 | |
Stock-based compensation | 1,103,000 | 1,332,000 |
Gain on extinguishment of debt | (3,139,000) | (13,642,000) |
Loss on disposal of fixed assets | 8,000 | 7,000 |
Provision for obsolete inventory | 353,000 | 493,000 |
Gain on derivative liability | (543,000) | |
Impairment of right of use assets | 52,000 | |
Change in operating assets and liabilities: | ||
Trade accounts receivable | 22,000 | 490,000 |
Other accounts receivable | (191,000) | 229,000 |
Inventory | (1,692,000) | 408,000 |
Prepaid assets | 38,000 | 462,000 |
Other assets | (67,000) | (56,000) |
Accounts payable | 684,000 | 2,876,000 |
Accrued expenses and other current liabilities | 1,023,000 | (79,000) |
Operating lease right of use assets and lease liabilities | 1,470,000 | 303,000 |
Net cash used in continuing operating activities | (8,360,000) | (1,604,000) |
Net cash used in discontinued operating activities | (133,000) | (605,000) |
Net cash used in operating activities | (8,493,000) | (2,209,000) |
Cash flows from investing activities: | ||
Purchase of property and equipment | (2,956,000) | (1,035,000) |
Proceeds from sale of property and equipment | 26,000 | |
Net cash used in investing activities | (2,930,000) | (1,035,000) |
Cash flows from financing activities: | ||
Proceeds from issuance of notes payable | 9,408,000 | 3,098,000 |
Proceeds from issuance of notes payable to related party | 4,000,000 | 400,000 |
Payment of notes payable | (3,731,000) | (825,000) |
Payment of notes payable to related party | (400,000) | |
Proceeds from sale of common stock | 2,000,000 | 226,000 |
Proceeds from warrant exercises | 123,000 | |
Short-swing profit disgorgement | 253,000 | |
Net cash provided by financing activities | 11,653,000 | 2,899,000 |
Effect of exchange rate changes on cash, cash equivalents and restricted cash | 7,000 | 22,000 |
Net increase (decrease) in cash, cash equivalents and restricted cash | 237,000 | (323,000) |
Cash, cash equivalents and restricted cash, beginning of period | 2,846,000 | 3,169,000 |
Cash, cash equivalents and restricted cash, end of period | 3,083,000 | 2,846,000 |
Cash paid for interest | 66,000 | 89,000 |
Cash paid for income taxes | 33,000 | 27,000 |
Non-cash investing and financing activities: | ||
Conversion of account payable and accrued liabilities to equity | 87,000 | 163,000 |
Conversion of notes payable and accrued interest to equity | 1,045,000 | 6,615,000 |
Accounts receivable offset against conversion of accounts payable to equity | (228,000) | |
Record operating lease right-of-use assets and operating lease liabilities | $ 5,148,000 | $ 3,647,000 |
Organization and Line of Busine
Organization and Line of Business | 12 Months Ended |
Jan. 29, 2022 | |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | |
Organization and Line of Business | NOTE 1—ORGANIZATION AND LINE OF BUSINESS Simply, Inc. (“Simply,” “we,” “us,” “our,” or the “Company”) was incorporated in February 1994 in the state of California under the name InfoSonics Corporation (“InfoSonics”) and reincorporated in September 2003 in the state of Maryland. On June 8, 2018, we changed our name to Cool Holdings, Inc., and on October 14, 2020, changed our name to Simply, Inc. Our fiscal year is comprised of the 52 or 53 weeks ending on the Saturday closest to the last day of January. Fiscal year 2022 consisted of the 52 weeks ended on January 29, 2022 (“Fiscal 2022”). Fiscal year 2021 consisted of the 52 weeks ended on January 30, 2021 (“Fiscal 2021”). We operate in a single business segment comprised of our chain of Simply Mac retail consumer electronics stores authorized under the Apple Premier Partner program and our SimplyMac.com eCommerce site. Geographically, all our Simply Mac retail stores are located in the United States. Effective October 14, 2020, we effected a one-for-ten reverse split of our issued and outstanding common stock. All share and per share numbers in this annual report have been retroactively restated to account for the reverse split. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 12 Months Ended |
Jan. 29, 2022 | |
Accounting Policies [Abstract] | |
Summary of Significant Accounting Policies | NOTE 2—SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation The Consolidated Financial Statements include the accounts of Simply, Inc. and our wholly owned subsidiaries. All material intercompany accounts and transactions are eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In preparing these financial statements, we have made our best estimates and judgments of certain amounts included in the financial statements. Changes in the estimates and assumptions used by us could have a significant impact on our financial results. Actual results could differ from those estimates. Revenue Recognition We recognize revenue in accordance with Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (ASC Topic 606) In our retail stores, revenue is recognized at a point in time, which typically is at the time of sale, net of discounts and estimated returns, when collection is reasonably assured and the customer takes possession of the merchandise. Revenues do not include sales taxes or other taxes collected from customers. Products sold in our stores typically come with a manufacturer’s warranty, which is an obligation of the manufacturer. However, our stores also sell AppleCare+ and other third-party plans to customers that provide extended warranty coverage on their device purchases. Because the service to be provided to the consumer under these plans comes directly from third parties, we do not “obtain substantive control” of the service. Consequently, we act as the “agent” in the sales transaction rather than the “principal,” and record the transaction on a “net” basis with the cost being netted against the sale and only the margin being recorded as revenue. For our repair business, revenue is recognized at a point in time, typically upon completion of the repair, and any customer deposits are recorded as liabilities until the service is completed. The Company has elected to account for shipping and handling costs as fulfillment activities. Shipping and handling fees billed to customers are included in net sales. Shipping and handling costs associated with outbound freight are included in cost of sales. Contract liabilities consist of customer payments received in advance of revenue recognition and are recorded as customer deposits. These deposits are liquidated when revenue is recognized. As of January 29, 2022, January 30, 2021 and February 1, 2020, contract liabilities amounted to approximately $1,895,000, $880,000 and $154,000, respectively. Revenue recognized that was included in the beginning contract liability balance amounted to approximately $817,000 and $107,000 for Fiscal 2022 and Fiscal 2021, respectively. Comprehensive Income (Loss) Comprehensive income (loss) as defined by U.S. generally accepted accounting principles (GAAP) includes all changes in equity (net assets) during a period from non-owner sources. The Company’s comprehensive income (loss) includes foreign currency translation adjustments, which are excluded from net income (loss) and are reported as a separate component of stockholders’ deficit as accumulated other comprehensive loss. Cash, Cash Equivalents and Restricted Cash For consolidated financial statement purposes, cash equivalents are defined as investments which have an original maturity of ninety days or less from the original date of purchase. Cash and cash equivalents consist of cash on hand and in banks. Amounts receivable from credit card processors are also considered cash equivalents because they are both short-term and highly liquid in nature and typically convert to cash approximately three to five days from the date of the underlying transaction. The Company maintains its cash, cash equivalents and restricted cash balances in banks that from time to time exceed amounts insured by the Federal Deposit Insurance Corporation. As of January 29, 2022 and January 30, 2021, the Company maintained deposits totaling $1,639,000 and $1,573,000, respectively, with certain financial institutions in excess of federally insured amounts. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash. Amounts included in restricted cash are pledged as collateral to banks and restricted to use in support of letters of credit issued to vendors for inventory and other purchases. Below is a reconciliation of cash, cash equivalents and restricted cash at January 29, 2022 and January 30, 2021 (in thousands): January 29, 2022 January 30, 2021 Cash and cash equivalents $ 1,828 $ 1,536 Restricted cash (short term) 1,255 1,310 Total $ 3,083 $ 2,846 Trade Accounts Receivable Trade accounts receivable are comprised primarily of amounts due from the Company’s retail B2B customers. The Company provides for the possible inability to collect accounts receivable by recording an allowance for doubtful accounts. The Company writes off an account when it is considered to be uncollectible. The Company evaluates the collectability of its accounts receivable on an ongoing basis. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations, the Company records a specific allowance against amounts due to reduce the net recognized receivable to the amount the Company reasonably believes will be collected. For all other customers, the Company recognizes allowances for doubtful accounts based on the length of time the receivables are past due, the current business environment and the Company’s historical experience. The allowance for doubtful accounts was nil and $6,000 at January 29, 2022 and January 30, 2021, respectively. The balance of trade accounts receivable at February 1, 2020 was $706,000. 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. Included in inventory at January 29, 2022 is approximately $811,000 of electric vehicle products and accessories purchased from a related party (see Note 8). The Company writes down its inventory to net realizable value when it is estimated to be slow-moving or obsolete. For Fiscal 2022 and 2021, inventory write-downs were $353,000 and $493,000, respectively. Property and Equipment Property and equipment are stated at cost less accumulated depreciation. The Company provides for depreciation using the straight-line method over estimated useful lives of three to five years. Expenditures for maintenance and repairs are charged to operations as incurred while renewals and betterments are capitalized. Gains or losses on the sale of property and equipment are reflected in the statements of operations. 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 cash, cash equivalents, restricted cash, trade and other accounts receivable, prepaid assets, accounts payable, accrued expenses and other current liabilities and notes payable – related party 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 subsequent 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 Fiscal 2021 (in thousands): Derivative Liability Balance, February 1, 2020 $ 2,528 Change in fair value of derivative liability (543 ) Derecognition of derivative liability upon debt conversion and cancellation of warrants (1,985 ) Balance, January 30, 2021 $ — Business Combinations We account for business combinations under the acquisition method of accounting. This method requires the recording of acquired assets and assumed liabilities at their acquisition date fair values. The excess of the purchase price over the fair value of assets acquired and liabilities assumed is recorded as goodwill. Results of operations related to business combinations are included prospectively beginning with the date of acquisition and transaction costs related to business combinations are recorded within selling, general and administrative ("SG&A") expenses. Goodwill and Intangible Assets Goodwill represents the excess purchase price over tangible net assets and identifiable intangible assets acquired. Intangible assets are recorded apart from goodwill if they arise from a contractual right and are capable of being separated from the entity and sold, transferred, licensed, rented or exchanged individually. We are required to evaluate goodwill and other intangible assets not subject to amortization for impairment at least annually or when circumstances indicate the carrying value of the goodwill or other intangible assets might be impaired. Goodwill is assigned to reporting units for the purpose of impairment testing. We have a single In order to test goodwill for impairment, we compare a reporting unit’s carrying amount to its estimated fair value. If the reporting unit’s carrying value exceeds its estimated fair value, then an impairment charge is recorded in the amount of the excess, limited to the amount of the goodwill in the reporting unit. The estimated fair value of a reporting unit is determined based on a combination of enterprise market valuation methods including (1) income approach using discounted cash flow analysis based on our long-term financial forecasts, (2) market approach using data for comparable market transactions, and (3) asset approach valuing the individual assets of the reporting unit. The discounted cash flows analysis requires significant assumptions including, among others, a discount rate and a terminal value. The Company follows the guidance set forth in ASU 2017-04, Intangibles-Goodwill and Other (ASC Topic 350) Our definite-lived intangible assets consist primarily of trade names recorded as a result of business acquisitions. The estimated useful life and amortization methodology of intangible assets are determined based on the period in which they are expected to contribute directly to cash flows. Intangible assets that are determined to have a definite life are amortized over that period. Impairment of Long-lived Assets Long-lived assets, including intangible assets, right-of-use assets and property and equipment are reviewed for impairment when circumstances indicate that the carrying amount of these assets may be impaired. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recognized to the extent the carrying amount of the asset exceeds its fair value. No impairment was recorded during Fiscal 2022 or Fiscal 2021. Stock-Based Compensation The Company’s share-based compensation plans are described in Note 11. The Company measures compensation cost for all employee stock-based awards at fair value on the date of grant and recognizes compensation expense, net of estimated forfeitures, over the requisite service period, usually the vesting period. The Company applies the straight-line method of expense recognition to all awards with only service-based vesting conditions. The fair value of stock options is determined using the Black-Scholes valuation model. The Company follows the guidance in ASU No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting . Stock-based awards granted to consultants and non-employees are accounted for in the same manner as awards granted to employees and directors described above. Advertising Expense The Company expenses all advertising costs, including direct response advertising, as they are incurred. Advertising expense for the Fiscal 2022 and Fiscal 2021 was $750,000 and $410,000, respectively. Income Taxes The Company recognizes deferred tax assets and liabilities for the future consequences of events that have been recognized in the Company’s financial statements or tax returns. The measurement of the deferred items is based on enacted tax laws. In the event the future consequences of differences between financial reporting bases and the tax bases of the Company’s assets and liabilities result in a deferred tax asset, the Company performs an evaluation of the probability of being able to realize the future benefits indicated by such asset. A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion or the entire deferred tax asset will not be realized. In addition, the Company recognizes the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination. The amount recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. The Company recognizes interest and penalties related to tax uncertainties as operating expenses. Based on our evaluation, the Company has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements. Earnings (Loss) Per Share The Company computes basic earnings (loss) per share 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 Fiscal 2021, the dilutive effect of in-the-money common share equivalents amounted to 149,000 shares. Shares of common stock from the potential exercise of common share equivalents are excluded from the computation of diluted earnings (loss) per share when their exercise prices are greater than the Company’s weighted-average stock price for the period. For Fiscal 2022 and Fiscal 2021, the number of such shares excluded was 1,507,000 and 2,968,000 shares, respectively. In addition, for Fiscal 2022, because their inclusion would have been anti-dilutive to the loss calculation, common shares from exercise of 3,943,000 common share equivalents were excluded from the computation of net loss per share. All share and per share numbers in this annual report have been retroactively restated for the Company’s one-for-ten reverse stock split effected in October 2020. Geographic Reporting The Company allocates revenues to geographic areas based on the location where our retail stores are located. Currently, all retail stores are located in the United States. Major Suppliers The Company purchases its Apple products either directly from Apple or from major distributors, depending on availability of product and credit lines at the time of purchase. Ultimately, Apple is the sole source of supply of Apple products, and the Company’s business is highly dependent on Apple for its supply of current and future products. Approximately 69% and 74% of the Company’s sales for Fiscal 2022 and Fiscal 2021, respectively, are comprised of sales of Apple products. In addition, the growth of our business is highly dependent upon our relationship with Apple in providing us with the licenses and approvals necessary to expand our footprint into various countries and regions around the world. Apple has very strict performance standards and guidelines that we must achieve and adhere to in order to be successful and continue to receive their support. Consequently, our performance deterioration or failure to adhere to their guidelines could jeopardize our strategy and adversely affect our financial performance. During Fiscal 2022 and Fiscal 2021, greater than 90% of the Company’s inventory purchases were made through two suppliers. Concentrations of Credit Risk, Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. We maintain our cash and cash equivalents with various high-credit-quality financial institutions located primarily in the United States. Currently, the Company’s cash balances are kept primarily in demand accounts at these banks, but the Company may periodically invest excess cash in certificates of deposit or money market accounts in order to maintain safety and liquidity. The Company’s investment strategy generally results in lower yields on investments but reduces the risk to principal in the short term prior to these funds being used in its business. The Company has not experienced any material losses on financial instruments held at financial institutions. The Company’s retail stores sell primarily to end consumers, with periodic sales to corporate customers. The Company selectively provides credit to corporate and reseller customers in the normal course of business and generally requires no collateral. The Company performs ongoing credit evaluations of its customers and maintains reserves for potential credit losses based upon the Company’s historical experience related to credit losses and any unusual circumstances that may affect the ability of its customers to meet their obligations. The Company’s bad debt expenses have not been significant relative to its total revenues. No customer represented 10% or more of the Company’s total net sales during Fiscal 2022 and Fiscal 2021. Excluding receivables from customer financing partners, no individual customer represented 10% or more of accounts receivable at January 29, 2022 or January 30, 2021. Recently Adopted Accounting Pronouncements 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 Fiscal 2022. Other Accounting Standards Updates not effective until after January 29, 2022 are not expected to have a material effect on the Company’s financial position or results of operations. |
Going Concern Considerations
Going Concern Considerations | 12 Months Ended |
Jan. 29, 2022 | |
Going Concern Considerations [Abstract] | |
Going Concern Considerations | NOTE 3—GOING CONCERN CONSIDERATIONS In accordance with the guidance issued by the FASB 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 and its total liabilities exceed its total assets, 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 and achieve positive cash flows from operations. These consolidated financial statements do not include any adjustment that might be necessary if the Company is unable to continue as a going concern. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Jan. 29, 2022 | |
Property Plant And Equipment [Abstract] | |
Property and Equipment | NOTE 4—PROPERTY AND EQUIPMENT Property and equipment consisted of the following as of the dates presented (in thousands): January 29, 2022 January 30, 2021 Machinery and equipment $ 492 $ 240 Furniture and fixtures 1,227 666 Leasehold improvements 3,334 1,566 Subtotal 5,053 2,472 Less accumulated depreciation and amortization (1,566 ) (1,171 ) Total $ 3,487 $ 1,301 Depreciation and amortization expense of property and equipment was $737,000 and $534,000 for Fiscal 2022 and Fiscal 2021, respectively. |
Goodwill and Intangible Assets
Goodwill and Intangible Assets | 12 Months Ended |
Jan. 29, 2022 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Goodwill and Intangible Assets | NOTE 5—GOODWILL AND INTANGIBLE ASSETS The Company’s goodwill and definite-lived intangible assets arose primarily from the acquisition of Simply Mac on September 25, 2019. The intangible assets are comprised of the Simply Mac tradename, that is being amortized over 15 years, and the simplyinc.com domain name, that is being amortized over 5 years. The carrying value of the intangible assets consisted of the following as of the dates presented (in thousands): January 29, 2022 January 30, 2021 Simply Mac Tradename $ 2,092 $ 2,092 SimplyInc Domain Name 10 10 SimplyDeals Domain Name 8 — Subtotal 2,110 2,102 Less accumulated amortization (331 ) (189 ) Total $ 1,779 $ 1,913 Amortization expense of intangible assets for Fiscal 2022 and Fiscal 2021 was $142,000 and $141,000, respectively. The carrying amount of goodwill at January 29, 2022 and January 30, 2021 amounted to $699,000. Due to the various impacts of COVID-19 to the Company’s business during the Fiscal 2021, including the temporary closure and limited operating hours of the Company’s stores beginning in late March 2020 and the continued losses incurred during Fiscal 2022, the Company determined triggering events had occurred for certain of the Company’s long-lived asset groups that required impairment assessments during the periods. This analysis did not result in impairment charges related to long-lived assets and operating lease right of use assets. |
Accrued Expenses and Other Curr
Accrued Expenses and Other Current Liabilities | 12 Months Ended |
Jan. 29, 2022 | |
Payables And Accruals [Abstract] | |
Accrued Expenses and Other Current Liabilities | NOTE 6—ACCRUED EXPENSES AND OTHER CURRENT LIABILITIES As of January 29, 2022 and January 30, 2021, accrued expenses consisted of the following (in thousands): January 29, 2022 January 30, 2021 Accrued compensation (wages, benefits, severance, vacation) $ 1,316 $ 1,187 Customer deposits 1,895 880 Accrued interest 383 113 Accrued sales taxes 417 561 Accrued income taxes 242 243 Other accruals 144 564 Total $ 4,397 $ 3,548 |
Notes Payable
Notes Payable | 12 Months Ended |
Jan. 29, 2022 | |
Debt Disclosure [Abstract] | |
Notes Payable | NOTE 7—NOTES PAYABLE Notes payable consisted of the following at January 29, 2022 and January 30, 2021 (in thousands): January 29, 2022 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 — 10% secured note due November 23, 2022 3,677 — Total face amount 6,927 4,348 Amount classified as current 3,988 2,478 Amount classified as long-term $ 2,939 $ 1,870 Maturities of notes payable are as follows: Fiscal 2023 - $3,988,000; Fiscal 2024 - $533,000; Fiscal 2025 - $1,784,000; Fiscal 2026 - $533,000 and Fiscal 2027 - $89,000. 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. On March 11, 2020, the Company and GameStop entered into an agreement to amend and restate the promissory note. 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 aggregating $3,139,000 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 On November 23, 2021, the Company entered into a loan and security agreement with a finance company. Under the agreement, the Company could borrow up to $6,000,000 prior to January 31, 2022 in increments of no less then $500,000 to purchase inventory. 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 a 2% 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 and is guaranteed by an entity that is affiliated with SOL Global, matures on November 23, 2022, and contains other customary terms and conditions for agreements of its type. As of January 29, 2022, the Company had borrowed $4,608,000 and repaid $3,731,000 resulting in a remaining principal balance of $877,000. On January 18, 2022, the agreement was amended to enable the Company to borrow an additional $2,800,000. This additional borrowing raised the combined principal balance at January 29, 2022 to $3,677,000. The additional borrowing is to be repaid in 14 weekly principal payments of $200,000 beginning February 25, 2022. Interest expense for notes payable for Fiscal 2022 and Fiscal 2021 amounted to $274,000 and $1,048,000, respectively, including accretion of discounts in Fiscal 2021 of $668,000. Derivative Liability: In connection with the issuance by the Company during 2019 of certain convertible notes and warrants, as well as subsequent conversions 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. These warrants were valued at the issuance date and at each subsequent measurement date, and are level 3 measurements. The derivative liabilities were marked-to-market at December 31, 2019, February 1, 2020 and at March 31, 2020, the date the underlying notes were exchanged (see Note 11). The valuation at March 31, 2020 resulted in a decrease in value of the derivative liability of $543,000 that was recorded as other income for Fiscal 2021. |
Related Parties
Related Parties | 12 Months Ended |
Jan. 29, 2022 | |
Related Party Transactions [Abstract] | |
Related Parties | NOTE 8—RELATED PARTIES Notes Payable to Related Parties: Notes payable to related parties consisted of the following at January 29, 2022 and January 30, 2021 (in thousands): January 29, 2022 January 30, 2021 18% promissory note due April 21, 2021 $ — $ 400 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 — 9% unsecured convertible notes due May 7, 2022 500 — Total face amount 3,000 400 Unamortized discount (811 ) — Total carrying value 2,189 400 Amount classified as current — 400 Amount classified as long-term $ 2,189 $ — Subsequent to January 29, 2022, the maturity dates of all of the notes payable to related parties were extended into Fiscal 2024. Accordingly, these notes are classified as long-term at January 29, 2022. 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 Fiscal 2022 and Fiscal 2021 was $9,000 and $22,000, respectively. 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 were assigned a value of $ 712,000 , 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 2052 %. 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 January 29, 2022 amounted to $ . Interest expense on the note for Fiscal 2022 was $ , including accretion of $ . Subsequent to January 29, 2022, the maturity of this note was extended by one year, without interest, to April 14, 2023. On October 21, 2021, the Company issued a $750,000, six-month six-month On November 5, 2021, the Company issued a $500,000, six-month six-month Interest expense for related party notes payable for Fiscal 2022 and Fiscal 2021 was $2,418,000 and $22,000, respectively, including accretion of $2,270,000 in Fiscal 2022. Accrued interest owed to SOL Global at January 29, 2022 amounted to $94,000. 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 Company also reimbursed EV Toys for the cost of tenant improvements at the store in the amount of $239,000. 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 Fiscal 2022 amounted to $1,257,000, and the outstanding balance of accounts payable owed by the Company to EV Toys at January 29, 2022 for product purchases was $1,000,000. 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 Fiscal 2022 amounted to $2,182,000, and the outstanding balance of accounts payable owed by the Company to Smash at January 29, 2022 was $508,000. 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. |
Income Taxes
Income Taxes | 12 Months Ended |
Jan. 29, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | NOTE 9—INCOME TAXES 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 2007 through 2021 remain open to examination by the taxing authorities due to the carryforward of unutilized net operating losses. As of January 29, 2022, the Company does not expect any material changes to unrecognized tax positions within the next twelve months. Components of the income tax provision are as follows for Fiscal 2022 and Fiscal 2021 (in thousands): Fiscal Year 2022 2021 Current tax provision: Federal $ — $ — State 28 51 Total 28 51 Deferred tax provision: Federal — — State — — Total — — Total provision for income taxes $ 28 $ 51 A reconciliation of income taxes computed by applying the federal statutory income tax rate of 21.0% to income (loss) from continuing operations before income taxes to the recognized income tax provision reported in the accompanying consolidated statements of operations is as follows for Fiscal 2022 and Fiscal 2021 (in thousands): Fiscal Year 2022 2021 Income tax at U.S. federal statutory rate $ (2,330 ) $ 936 State taxes, net of federal benefit 6 51 Non-deductible (non-taxable) items, net (612 ) (2,475 ) Foreign income tax rate differential 13 — Valuation allowance 2,281 13 Expiration of net operating losses — 1,966 Debt discount 647 — Change in state rates 22 — Other 1 (440 ) Total provision for income taxes $ 28 $ 51 Deferred income taxes reflect the net effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. The Company has recorded a full valuation allowance against its deferred tax assets, as realization of such assets is uncertain based on the Company’s history of operating losses. Significant components of deferred tax assets and liabilities are shown below (in thousands): January 29, 2022 January 30, 2021 Non-current deferred tax assets: Net operating loss $ 8,563 $ 3,959 Accrued compensation 895 527 Lease liability 3,079 2,396 Interest expense 732 597 Intangible assets 1,008 1,131 Other accruals and reserves 390 470 Total 14,667 9,080 Valuation allowance (11,463 ) (6,009 ) Net deferred tax assets 3,204 3,071 Deferred tax liabilities: Depreciation (288 ) (761 ) Right of use assets (2,712 ) (2,310 ) Debt discount (204 ) — Net deferred tax liabilities (3,204 ) (3,071 ) Net deferred tax accounts $ — $ — At January 29, 2022, the Company had available net operating loss carryforwards of approximately $37,700,000 for federal income tax purposes, of which $27,200,000 were generated after 2017 and can be carried forward indefinitely under the Tax Cuts and Jobs Act. The remaining federal net operating losses of $10,500,000, which were generated prior to 2018, will start to expire in 2027 if not utilized. Approximately $29,800,000 of the Company’s federal net operating loss carryforward was attributable to continuing operations, and approximately $7,900,000 was attributable to discontinued operations. At January 29, 2022, the Company had available net operating loss carryforwards for state tax purposes of approximately $14,900,000 that will begin to expire in 2023 if not utilized. Utilization of the net operating loss carryforwards may be subject to a substantial annual limitation due to ownership change limitations that may have occurred, or that occur in the future, as required by Section 382 of the Internal Revenue Code of 1986, as amended, as well as similar state provisions. These ownership changes may limit the amount of the net operating loss carryover that can be utilized annually to offset future taxable income. In general, an “ownership change” as defined by Section 382 results from a transaction or series of transactions over a three-year Following the Company’s adoption on January 1, 2007 of ASC 740-10 regarding accounting for uncertainty in income taxes, the Company made a comprehensive review of its portfolio of uncertain tax positions in accordance with the guidance. 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 that review, the Company concluded there were no uncertain tax positions and no cumulative effect on retained earnings at the time of adoption. Subsequent to that date of adoption through January 29, 2022, the Company has continued to evaluate its tax positions and concluded that it has not had any material uncertain tax positions. |
Commitments and Contingencies
Commitments and Contingencies | 12 Months Ended |
Jan. 29, 2022 | |
Commitments And Contingencies Disclosure [Abstract] | |
Commitments and Contingencies | NOTE 10—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 September 2031. 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 ten 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 Fiscal 2022 and Fiscal 2021 was $4,878,000 and $4,547,000, respectively. Cash paid for lease liabilities for Fiscal 2022 and Fiscal 2021 was $3,320,000 and $3,790,000, respectively. There were no variable lease costs during any of the reporting periods, but the Company received $250,000 in rent abatement credits related to COVID-19 during Fiscal 2021. Supplemental lease information as of January 29, 2022 is as follows ($ in thousands): Operating right of use assets $ 10,778 Current operating lease liabilities $ 2,536 Long-term operating lease liabilities $ 9,699 Weighted-average remaining lease term in years 4.40 Weighted-average discount rate 12 % As of January 29, 2022, maturities of lease liabilities are as follows (in thousands): Fiscal Years Ending January, 2023 $ 3,836 2024 3,818 2025 3,093 2026 2,549 2027 1,480 Thereafter 1,058 Total lease payments 15,834 Less: interest (3,599 ) Total 12,235 Less: current portion (2,536 ) Long-term portion $ 9,699 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 January 29, 2022, the Company’s outstanding payable with this vendor amounted to $5,784,000. Litigation The Company has historically and may become involved in certain legal proceedings and claims which arise in the normal course of business. As of the filing date of this annual report, the Company did not have any significant litigation outstanding. Employee Agreements and Compensation The Company provides a 401(k) retirement savings plan for certain full-time employees in the U.S. Those employees are eligible to participate after 90 days of service with the Company. The Company does not currently provide matching contributions. The Company has entered into employment agreements with its officers which could subject the Company to the payment of severance compensation in the event the employees are terminated without cause. |
Stockholders' Deficit
Stockholders' Deficit | 12 Months Ended |
Jan. 29, 2022 | |
Equity [Abstract] | |
Stockholders' Deficit | NOTE 11—STOCKHOLDERS’ DEFICIT Preferred Stock The Company has authorized the issuance of 10,000,000 shares of 0% Series A Convertible Preferred Stock. As of January 29, 2022, a total of 2,000 shares were outstanding. The preferred shares rank senior to the common stock with respect to the preferences as to dividends, distributions and payments upon the liquidation, dissolution and winding-up of the Company, and are entitled to vote on all shareholder matters. The preferred shares are essentially convertible into common stock of the Company on a one-for-one basis at the election of the holder. Common Stock and Warrants The Company has authorized the issuance of 150,000,000 shares of common stock. As of January 29, 2022, a total of 12,886,000 shares were outstanding. 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 in other expenses in the Company’s statement of operations for the year ended December 31, 2019 and as an accrued liability at December 31, 2019. The aggregate number of common shares issued in these transactions was 5,882,000. However, pursuant to a 4.99% blocker request from the holders, only 270,000 shares have been delivered, and 5,612,000 shares remain to be delivered. During June 2020, the Company issued 80,000 shares of common stock valued at $106,000 to its two outside directors in lieu of payment of accrued director fees, and in June, September and December 2020, issued an aggregate of 54,000 shares of common stock valued at $57,000 to three former executives in lieu of payment of accrued severance. During August 2020, the Company repurchased and retired 70,000 shares of common stock, valued at $28,000, previously issued to one of its employees. On October 14, 2020, the Company executed a 1-for-10 reverse stock split and issued 2,000 shares of common stock in lieu of fractional shares. All references to shares and per-share amounts have been restated to give effect to this reverse split. During March and April 2021, holders of common stock warrants exercised their warrants at the exercise price of $0.50 per share. The Company issued an aggregate of 247,000 shares of common stock and received cash proceeds of $123,000. In March, June, September and December 2021, the Company issued an aggregate of 28,000 shares of common stock valued at $89,000 to three former executives in lieu of payment of accrued severance. During August, September and October, the Company issued an aggregate of 576,000 shares of common stock valued at $2,000,000 in four private placements to a subsidiary of SOL Global. In September 2021, the Company issued 63,000 shares of common stock valued at $250,000 to an auto racing team in consideration of a sponsorship agreement. One of the team’s drivers is related to a principal of SOL Global. On January 6, 2022, as discussed in Note 8, SOL Global converted the principal and accrued interest of its convertible note dated July 6, 2021 totaling $1,045,000 into 418,000 shares of common stock at the conversion price of $2.50 per share. Stock Options and Stock-based Compensation The Company’s 2015 Equity Incentive Plan (the “Plan”) was approved by stockholders in June 2015 with 5,000 shares authorized for issuance thereunder. In December 2018, stockholders approved an amendment to the Plan to increase the number of shares authorized for issuance thereunder by 79,000 shares. In November 2019, stockholders approved an amendment to the Plan to increase the number of shares authorized for issuance thereunder by 1,500,000 shares. In December 2020, stockholders approved an amendment to the Plan to increase the number of shares authorized for issuance thereunder by 1,500,000 shares. The Plan is intended to provide incentives to key employees, officers, directors and consultants who provide significant services to the Company. The exercise price is determined by the Compensation Committee, but must be at least equal to the fair market value of the common stock on the date of grant of such option. The Compensation Committee also establishes the vesting schedule for each option granted and the term of each option, which cannot exceed 10 years from the date of grant. In the event of termination, vested options generally must be exercised within three months. In a change of control, if outstanding awards under the Plan are assumed or substituted by a successor company, such awards do not automatically fully vest but may become fully vested in the event of a qualifying termination following such change of control. The Company recognizes stock-based compensation expense on a straight-line basis over the requisite service period of the award, which is generally the vesting term. Income tax effects of share-based payments are recognized in the financial statements for those awards which will normally result in tax deductions under existing tax law. Under current U.S. federal tax law, we would receive a compensation expense deduction related to non-qualified stock options only when those options are exercised and vested shares are received. Accordingly, the financial statement recognition of compensation expense for non-qualified stock options creates a deductible temporary difference which results in a deferred tax asset. A summary of stock option activity for Fiscal 2022 is as follows (shares and aggregate intrinsic value in thousands): Shares Wtd. Avg. Exercise Price Wtd. Avg. Remaining Contractual Life Aggregate Intrinsic Value (a) Outstanding at January 30, 2021 855 $ 1.74 Granted 286 $ 2.53 Expired — $ — Forfeited — $ — Outstanding at January 29, 2022 1,141 $ 1.88 4.00 years $ 565 Vested and expected to vest 1,141 $ 1.88 4.00 years $ 565 Exercisable at January 29, 2022 854 $ 1.75 3.84 years $ 512 Non-vested at January 29, 2022 (b) 287 $ 2.29 4.48 years $ 53 (a) The aggregate intrinsic value is based on our closing stock price of $2.32 as of January 29, 2022. (b) The weighted-average grant date fair value of non-vested options at January 29, 2022 was $1.45 per share. During Fiscal 2021, the Company granted stock options under the Plan to purchase an aggregate of 855,000 shares to employees and directors. The fair value of the option grants 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 3.3 years for graded vested options. The expected annualized volatility of the Company’s common stock used in the calculation ranged from 95% to 108%. Determination of the volatility rate began with the fully-observed historical volatility of the Company’s common 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 Cooltech merger from which to obtain an implied volatility. ertain adjustments were then applied to the fully‑observed historical volatility through June 2020 by excluding the effects of the Company’s extraordinarily-significant announcements and events during the period. During Fiscal 2022, the Company granted stock options under the Plan to purchase an aggregate of 286,000 shares to employees. The fair value of the option grants 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 0.70% to 0.72% 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 2.69 to 2.75 years. The expected annualized volatility of the Company’s common stock used in the calculation was 107%. Determination of the volatility rate utilized the same methodology as described above during Fiscal 2021. Stock option expense for the year amounted to $305,000. In April 2020, the Company made grants of unregistered shares to two of the advisors 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. In December 2020, the advisors exercised warrants on an aggregate of 453,000 shares for an exercise price of $227,000, leaving warrants on 247,000 shares unexercised. The unexercised warrants were set to expire on January 6, 2021. The Company agreed to extend the expiration date of the warrants by four months to May 6, 2021. The warrant modifications were valued in accordance with ASC 718 using the same assumptions in the original valuation, but no additional compensation expense was valued or recorded in Fiscal 2021. In June 2020, 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, which amount was also recorded as compensation expense. In November 2021, the Company made restricted stock grants under the Plan in an aggregate amount of 750,000 shares to its board of directors and an employee. The stock was valued at $1,898,000 based on the closing market price on the date of grant, which amount is being recorded as compensation expense based on the vesting schedule. Compensation expense related to the restricted stock grants recorded in Fiscal 2022 amounted to $780,000. Additional compensation expense for vesting of previously issued restricted shares during Fiscal 2022 and Fiscal 2021 amounted to $17,000 and $93,000, respectively, bringing total stock-based compensation expense for Fiscal 2022 and Fiscal 2021 to $1,103,000 and $1,332,000, respectively. Future stock-based compensation related to unvested restricted stock and stock options at January 29, 2022 amounts to $1,416,000. |
Sale of Latin American Subsidia
Sale of Latin American Subsidiary | 12 Months Ended |
Jan. 29, 2022 | |
Latin American Subsidiary [Member] | |
Sale of Latin American Subsidiary | NOTE 12—SALE OF LATIN AMERICAN SUBSIDIARY 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 in additional consideration, evidenced by a 6-month installment promissory note. Verablue has been classified as a discontinued operation in our consolidated financial statements for all periods pre sented |
Subsequent Events
Subsequent Events | 12 Months Ended |
Jan. 29, 2022 | |
Subsequent Events [Abstract] | |
Subsequent Events | NOTE 13—SUBSEQUENT EVENTS On March 31, 2022, the Company entered into an account payable settlement agreement with two related party vendors, EV Toys and Smash, pursuant to which an aggregate of $3,191,000 in accounts payable were converted into 2,280,000 shares of the Company’s common stock, issued in the name of Revolution Brands International, LLC, the parent company of EV Toys and Smash. |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Jan. 29, 2022 | |
Accounting Policies [Abstract] | |
Principles of Consolidation | Principles of Consolidation The Consolidated Financial Statements include the accounts of Simply, Inc. and our wholly owned subsidiaries. All material intercompany accounts and transactions are eliminated in consolidation. |
Use of Estimates | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. In preparing these financial statements, we have made our best estimates and judgments of certain amounts included in the financial statements. Changes in the estimates and assumptions used by us could have a significant impact on our financial results. Actual results could differ from those estimates. |
Revenue Recognition | Revenue Recognition We recognize revenue in accordance with Accounting Standards Update (“ASU”) 2014-09, Revenue from Contracts with Customers (ASC Topic 606) In our retail stores, revenue is recognized at a point in time, which typically is at the time of sale, net of discounts and estimated returns, when collection is reasonably assured and the customer takes possession of the merchandise. Revenues do not include sales taxes or other taxes collected from customers. Products sold in our stores typically come with a manufacturer’s warranty, which is an obligation of the manufacturer. However, our stores also sell AppleCare+ and other third-party plans to customers that provide extended warranty coverage on their device purchases. Because the service to be provided to the consumer under these plans comes directly from third parties, we do not “obtain substantive control” of the service. Consequently, we act as the “agent” in the sales transaction rather than the “principal,” and record the transaction on a “net” basis with the cost being netted against the sale and only the margin being recorded as revenue. For our repair business, revenue is recognized at a point in time, typically upon completion of the repair, and any customer deposits are recorded as liabilities until the service is completed. The Company has elected to account for shipping and handling costs as fulfillment activities. Shipping and handling fees billed to customers are included in net sales. Shipping and handling costs associated with outbound freight are included in cost of sales. Contract liabilities consist of customer payments received in advance of revenue recognition and are recorded as customer deposits. These deposits are liquidated when revenue is recognized. As of January 29, 2022, January 30, 2021 and February 1, 2020, contract liabilities amounted to approximately $1,895,000, $880,000 and $154,000, respectively. Revenue recognized that was included in the beginning contract liability balance amounted to approximately $817,000 and $107,000 for Fiscal 2022 and Fiscal 2021, respectively. |
Comprehensive Income (Loss) | Comprehensive Income (Loss) Comprehensive income (loss) as defined by U.S. generally accepted accounting principles (GAAP) includes all changes in equity (net assets) during a period from non-owner sources. The Company’s comprehensive income (loss) includes foreign currency translation adjustments, which are excluded from net income (loss) and are reported as a separate component of stockholders’ deficit as accumulated other comprehensive loss. |
Cash, Cash Equivalents and Restricted Cash | Cash, Cash Equivalents and Restricted Cash For consolidated financial statement purposes, cash equivalents are defined as investments which have an original maturity of ninety days or less from the original date of purchase. Cash and cash equivalents consist of cash on hand and in banks. Amounts receivable from credit card processors are also considered cash equivalents because they are both short-term and highly liquid in nature and typically convert to cash approximately three to five days from the date of the underlying transaction. The Company maintains its cash, cash equivalents and restricted cash balances in banks that from time to time exceed amounts insured by the Federal Deposit Insurance Corporation. As of January 29, 2022 and January 30, 2021, the Company maintained deposits totaling $1,639,000 and $1,573,000, respectively, with certain financial institutions in excess of federally insured amounts. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on cash. Amounts included in restricted cash are pledged as collateral to banks and restricted to use in support of letters of credit issued to vendors for inventory and other purchases. Below is a reconciliation of cash, cash equivalents and restricted cash at January 29, 2022 and January 30, 2021 (in thousands): January 29, 2022 January 30, 2021 Cash and cash equivalents $ 1,828 $ 1,536 Restricted cash (short term) 1,255 1,310 Total $ 3,083 $ 2,846 |
Trade Accounts Receivable | Trade Accounts Receivable Trade accounts receivable are comprised primarily of amounts due from the Company’s retail B2B customers. The Company provides for the possible inability to collect accounts receivable by recording an allowance for doubtful accounts. The Company writes off an account when it is considered to be uncollectible. The Company evaluates the collectability of its accounts receivable on an ongoing basis. In circumstances where the Company is aware of a specific customer’s inability to meet its financial obligations, the Company records a specific allowance against amounts due to reduce the net recognized receivable to the amount the Company reasonably believes will be collected. For all other customers, the Company recognizes allowances for doubtful accounts based on the length of time the receivables are past due, the current business environment and the Company’s historical experience. The allowance for doubtful accounts was nil and $6,000 at January 29, 2022 and January 30, 2021, respectively. The balance of trade accounts receivable at February 1, 2020 was $706,000. |
Inventory | 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. Included in inventory at January 29, 2022 is approximately $811,000 of electric vehicle products and accessories purchased from a related party (see Note 8). The Company writes down its inventory to net realizable value when it is estimated to be slow-moving or obsolete. For Fiscal 2022 and 2021, inventory write-downs were $353,000 and $493,000, respectively. |
Property and Equipment | Property and Equipment Property and equipment are stated at cost less accumulated depreciation. The Company provides for depreciation using the straight-line method over estimated useful lives of three to five years. Expenditures for maintenance and repairs are charged to operations as incurred while renewals and betterments are capitalized. Gains or losses on the sale of property and equipment are reflected in the statements of operations. |
Fair Value of Financial Instruments | 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 cash, cash equivalents, restricted cash, trade and other accounts receivable, prepaid assets, accounts payable, accrued expenses and other current liabilities and notes payable – related party 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 subsequent 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 Fiscal 2021 (in thousands): Derivative Liability Balance, February 1, 2020 $ 2,528 Change in fair value of derivative liability (543 ) Derecognition of derivative liability upon debt conversion and cancellation of warrants (1,985 ) Balance, January 30, 2021 $ — |
Business Combinations | Business Combinations We account for business combinations under the acquisition method of accounting. This method requires the recording of acquired assets and assumed liabilities at their acquisition date fair values. The excess of the purchase price over the fair value of assets acquired and liabilities assumed is recorded as goodwill. Results of operations related to business combinations are included prospectively beginning with the date of acquisition and transaction costs related to business combinations are recorded within selling, general and administrative ("SG&A") expenses. |
Goodwill and Intangible Assets | Goodwill and Intangible Assets Goodwill represents the excess purchase price over tangible net assets and identifiable intangible assets acquired. Intangible assets are recorded apart from goodwill if they arise from a contractual right and are capable of being separated from the entity and sold, transferred, licensed, rented or exchanged individually. We are required to evaluate goodwill and other intangible assets not subject to amortization for impairment at least annually or when circumstances indicate the carrying value of the goodwill or other intangible assets might be impaired. Goodwill is assigned to reporting units for the purpose of impairment testing. We have a single In order to test goodwill for impairment, we compare a reporting unit’s carrying amount to its estimated fair value. If the reporting unit’s carrying value exceeds its estimated fair value, then an impairment charge is recorded in the amount of the excess, limited to the amount of the goodwill in the reporting unit. The estimated fair value of a reporting unit is determined based on a combination of enterprise market valuation methods including (1) income approach using discounted cash flow analysis based on our long-term financial forecasts, (2) market approach using data for comparable market transactions, and (3) asset approach valuing the individual assets of the reporting unit. The discounted cash flows analysis requires significant assumptions including, among others, a discount rate and a terminal value. The Company follows the guidance set forth in ASU 2017-04, Intangibles-Goodwill and Other (ASC Topic 350) Our definite-lived intangible assets consist primarily of trade names recorded as a result of business acquisitions. The estimated useful life and amortization methodology of intangible assets are determined based on the period in which they are expected to contribute directly to cash flows. Intangible assets that are determined to have a definite life are amortized over that period. |
Impairment of Long-lived Assets | Impairment of Long-lived Assets Long-lived assets, including intangible assets, right-of-use assets and property and equipment are reviewed for impairment when circumstances indicate that the carrying amount of these assets may be impaired. If the sum of the expected future undiscounted cash flows is less than the carrying amount of the asset, an impairment loss is recognized to the extent the carrying amount of the asset exceeds its fair value. No impairment was recorded during Fiscal 2022 or Fiscal 2021. |
Stock-Based Compensation | Stock-Based Compensation The Company’s share-based compensation plans are described in Note 11. The Company measures compensation cost for all employee stock-based awards at fair value on the date of grant and recognizes compensation expense, net of estimated forfeitures, over the requisite service period, usually the vesting period. The Company applies the straight-line method of expense recognition to all awards with only service-based vesting conditions. The fair value of stock options is determined using the Black-Scholes valuation model. The Company follows the guidance in ASU No. 2018-07, Compensation—Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting . Stock-based awards granted to consultants and non-employees are accounted for in the same manner as awards granted to employees and directors described above. |
Advertising Expense | Advertising Expense The Company expenses all advertising costs, including direct response advertising, as they are incurred. Advertising expense for the Fiscal 2022 and Fiscal 2021 was $750,000 and $410,000, respectively. |
Income Taxes | Income Taxes The Company recognizes deferred tax assets and liabilities for the future consequences of events that have been recognized in the Company’s financial statements or tax returns. The measurement of the deferred items is based on enacted tax laws. In the event the future consequences of differences between financial reporting bases and the tax bases of the Company’s assets and liabilities result in a deferred tax asset, the Company performs an evaluation of the probability of being able to realize the future benefits indicated by such asset. A valuation allowance related to a deferred tax asset is recorded when it is more likely than not that some portion or the entire deferred tax asset will not be realized. In addition, the Company recognizes the financial statement impact of a tax position when it is more likely than not that the position will be sustained upon examination. The amount recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. The Company recognizes interest and penalties related to tax uncertainties as operating expenses. Based on our evaluation, the Company has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements. |
Earnings (Loss) Per Share | Earnings (Loss) Per Share The Company computes basic earnings (loss) per share 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 Fiscal 2021, the dilutive effect of in-the-money common share equivalents amounted to 149,000 shares. Shares of common stock from the potential exercise of common share equivalents are excluded from the computation of diluted earnings (loss) per share when their exercise prices are greater than the Company’s weighted-average stock price for the period. For Fiscal 2022 and Fiscal 2021, the number of such shares excluded was 1,507,000 and 2,968,000 shares, respectively. In addition, for Fiscal 2022, because their inclusion would have been anti-dilutive to the loss calculation, common shares from exercise of 3,943,000 common share equivalents were excluded from the computation of net loss per share. All share and per share numbers in this annual report have been retroactively restated for the Company’s one-for-ten reverse stock split effected in October 2020. |
Geographic Reporting | Geographic Reporting The Company allocates revenues to geographic areas based on the location where our retail stores are located. Currently, all retail stores are located in the United States. |
Major Suppliers | Major Suppliers The Company purchases its Apple products either directly from Apple or from major distributors, depending on availability of product and credit lines at the time of purchase. Ultimately, Apple is the sole source of supply of Apple products, and the Company’s business is highly dependent on Apple for its supply of current and future products. Approximately 69% and 74% of the Company’s sales for Fiscal 2022 and Fiscal 2021, respectively, are comprised of sales of Apple products. In addition, the growth of our business is highly dependent upon our relationship with Apple in providing us with the licenses and approvals necessary to expand our footprint into various countries and regions around the world. Apple has very strict performance standards and guidelines that we must achieve and adhere to in order to be successful and continue to receive their support. Consequently, our performance deterioration or failure to adhere to their guidelines could jeopardize our strategy and adversely affect our financial performance. During Fiscal 2022 and Fiscal 2021, greater than 90% of the Company’s inventory purchases were made through two suppliers. |
Concentrations of Credit Risk, Customers | Concentrations of Credit Risk, Customers Financial instruments that potentially subject the Company to concentrations of credit risk consist principally of cash and cash equivalents and accounts receivable. We maintain our cash and cash equivalents with various high-credit-quality financial institutions located primarily in the United States. Currently, the Company’s cash balances are kept primarily in demand accounts at these banks, but the Company may periodically invest excess cash in certificates of deposit or money market accounts in order to maintain safety and liquidity. The Company’s investment strategy generally results in lower yields on investments but reduces the risk to principal in the short term prior to these funds being used in its business. The Company has not experienced any material losses on financial instruments held at financial institutions. The Company’s retail stores sell primarily to end consumers, with periodic sales to corporate customers. The Company selectively provides credit to corporate and reseller customers in the normal course of business and generally requires no collateral. The Company performs ongoing credit evaluations of its customers and maintains reserves for potential credit losses based upon the Company’s historical experience related to credit losses and any unusual circumstances that may affect the ability of its customers to meet their obligations. The Company’s bad debt expenses have not been significant relative to its total revenues. No customer represented 10% or more of the Company’s total net sales during Fiscal 2022 and Fiscal 2021. Excluding receivables from customer financing partners, no individual customer represented 10% or more of accounts receivable at January 29, 2022 or January 30, 2021. |
Recently Adopted Accounting Pronouncements | Recently Adopted Accounting Pronouncements 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 Fiscal 2022. Other Accounting Standards Updates not effective until after January 29, 2022 are not expected to have a material effect on the Company’s financial position or results of operations. |
Summary of Significant Accoun_3
Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Jan. 29, 2022 | |
Accounting Policies [Abstract] | |
Reconciliation of Cash, Cash Equivalents and Restricted Cash | Below is a reconciliation of cash, cash equivalents and restricted cash at January 29, 2022 and January 30, 2021 (in thousands): January 29, 2022 January 30, 2021 Cash and cash equivalents $ 1,828 $ 1,536 Restricted cash (short term) 1,255 1,310 Total $ 3,083 $ 2,846 |
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 Fiscal 2021 (in thousands): Derivative Liability Balance, February 1, 2020 $ 2,528 Change in fair value of derivative liability (543 ) Derecognition of derivative liability upon debt conversion and cancellation of warrants (1,985 ) Balance, January 30, 2021 $ — |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Jan. 29, 2022 | |
Property Plant And Equipment [Abstract] | |
Summary of Property and Equipment | Property and equipment consisted of the following as of the dates presented (in thousands): January 29, 2022 January 30, 2021 Machinery and equipment $ 492 $ 240 Furniture and fixtures 1,227 666 Leasehold improvements 3,334 1,566 Subtotal 5,053 2,472 Less accumulated depreciation and amortization (1,566 ) (1,171 ) Total $ 3,487 $ 1,301 |
Goodwill and Intangible Assets
Goodwill and Intangible Assets (Tables) | 12 Months Ended |
Jan. 29, 2022 | |
Goodwill And Intangible Assets Disclosure [Abstract] | |
Summary of Definite-Lived Intangible Assets Arose From Simply Mac Acquisition | The carrying value of the intangible assets consisted of the following as of the dates presented (in thousands): January 29, 2022 January 30, 2021 Simply Mac Tradename $ 2,092 $ 2,092 SimplyInc Domain Name 10 10 SimplyDeals Domain Name 8 — Subtotal 2,110 2,102 Less accumulated amortization (331 ) (189 ) Total $ 1,779 $ 1,913 |
Accrued Expenses and Other Cu_2
Accrued Expenses and Other Current Liabilities (Tables) | 12 Months Ended |
Jan. 29, 2022 | |
Payables And Accruals [Abstract] | |
Schedule of Accrued Expenses and Other Current Liabilities | As of January 29, 2022 and January 30, 2021, accrued expenses consisted of the following (in thousands): January 29, 2022 January 30, 2021 Accrued compensation (wages, benefits, severance, vacation) $ 1,316 $ 1,187 Customer deposits 1,895 880 Accrued interest 383 113 Accrued sales taxes 417 561 Accrued income taxes 242 243 Other accruals 144 564 Total $ 4,397 $ 3,548 |
Notes Payable (Tables)
Notes Payable (Tables) | 12 Months Ended |
Jan. 29, 2022 | |
Debt Disclosure [Abstract] | |
Schedule of Notes Payable | Notes payable consisted of the following at January 29, 2022 and January 30, 2021 (in thousands): January 29, 2022 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 — 10% secured note due November 23, 2022 3,677 — Total face amount 6,927 4,348 Amount classified as current 3,988 2,478 Amount classified as long-term $ 2,939 $ 1,870 |
Related Parties (Tables)
Related Parties (Tables) | 12 Months Ended |
Jan. 29, 2022 | |
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 at January 29, 2022 and January 30, 2021 (in thousands): January 29, 2022 January 30, 2021 18% promissory note due April 21, 2021 $ — $ 400 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 — 9% unsecured convertible notes due May 7, 2022 500 — Total face amount 3,000 400 Unamortized discount (811 ) — Total carrying value 2,189 400 Amount classified as current — 400 Amount classified as long-term $ 2,189 $ — |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Jan. 29, 2022 | |
Income Tax Disclosure [Abstract] | |
Components of Income Tax Provision | Components of the income tax provision are as follows for Fiscal 2022 and Fiscal 2021 (in thousands): Fiscal Year 2022 2021 Current tax provision: Federal $ — $ — State 28 51 Total 28 51 Deferred tax provision: Federal — — State — — Total — — Total provision for income taxes $ 28 $ 51 |
Reconciliation of Income Taxes | A reconciliation of income taxes computed by applying the federal statutory income tax rate of 21.0% to income (loss) from continuing operations before income taxes to the recognized income tax provision reported in the accompanying consolidated statements of operations is as follows for Fiscal 2022 and Fiscal 2021 (in thousands): Fiscal Year 2022 2021 Income tax at U.S. federal statutory rate $ (2,330 ) $ 936 State taxes, net of federal benefit 6 51 Non-deductible (non-taxable) items, net (612 ) (2,475 ) Foreign income tax rate differential 13 — Valuation allowance 2,281 13 Expiration of net operating losses — 1,966 Debt discount 647 — Change in state rates 22 — Other 1 (440 ) Total provision for income taxes $ 28 $ 51 |
Significant Components of Deferred Tax Assets and Liabilities | Significant components of deferred tax assets and liabilities are shown below (in thousands): January 29, 2022 January 30, 2021 Non-current deferred tax assets: Net operating loss $ 8,563 $ 3,959 Accrued compensation 895 527 Lease liability 3,079 2,396 Interest expense 732 597 Intangible assets 1,008 1,131 Other accruals and reserves 390 470 Total 14,667 9,080 Valuation allowance (11,463 ) (6,009 ) Net deferred tax assets 3,204 3,071 Deferred tax liabilities: Depreciation (288 ) (761 ) Right of use assets (2,712 ) (2,310 ) Debt discount (204 ) — Net deferred tax liabilities (3,204 ) (3,071 ) Net deferred tax accounts $ — $ — |
Commitments and Contingencies (
Commitments and Contingencies (Tables) | 12 Months Ended |
Jan. 29, 2022 | |
Leases [Abstract] | |
Schedule of Supplemental Lease Information | Supplemental lease information as of January 29, 2022 is as follows ($ in thousands): Operating right of use assets $ 10,778 Current operating lease liabilities $ 2,536 Long-term operating lease liabilities $ 9,699 Weighted-average remaining lease term in years 4.40 Weighted-average discount rate 12 % |
Schedule of Maturities of Operating Lease Liabilities | As of January 29, 2022, maturities of lease liabilities are as follows (in thousands): Fiscal Years Ending January, 2023 $ 3,836 2024 3,818 2025 3,093 2026 2,549 2027 1,480 Thereafter 1,058 Total lease payments 15,834 Less: interest (3,599 ) Total 12,235 Less: current portion (2,536 ) Long-term portion $ 9,699 |
Stockholders' Deficit (Tables)
Stockholders' Deficit (Tables) | 12 Months Ended |
Jan. 29, 2022 | |
Equity [Abstract] | |
Summary of Stock Option Activity | A summary of stock option activity for Fiscal 2022 is as follows (shares and aggregate intrinsic value in thousands): Shares Wtd. Avg. Exercise Price Wtd. Avg. Remaining Contractual Life Aggregate Intrinsic Value (a) Outstanding at January 30, 2021 855 $ 1.74 Granted 286 $ 2.53 Expired — $ — Forfeited — $ — Outstanding at January 29, 2022 1,141 $ 1.88 4.00 years $ 565 Vested and expected to vest 1,141 $ 1.88 4.00 years $ 565 Exercisable at January 29, 2022 854 $ 1.75 3.84 years $ 512 Non-vested at January 29, 2022 (b) 287 $ 2.29 4.48 years $ 53 (a) The aggregate intrinsic value is based on our closing stock price of $2.32 as of January 29, 2022. (b) The weighted-average grant date fair value of non-vested options at January 29, 2022 was $1.45 per share. |
Organization and Line of Busi_2
Organization and Line of Business -Additional Information (Details) | Oct. 31, 2020 | Oct. 14, 2020 |
Organization Consolidation And Presentation Of Financial Statements [Abstract] | ||
Reverse stock split | one-for-ten reverse stock split | one-for-ten reverse split |
Stock split, conversion ratio | 0.1 | 0.1 |
Summary of Significant Accoun_4
Summary of Significant Accounting Policies - Additional Information (Detail) | Oct. 31, 2020 | Oct. 14, 2020 | Jan. 29, 2022USD ($)SegmentCustomershares | Jan. 30, 2021USD ($)Customershares | Feb. 01, 2020USD ($) |
Summary Of Significant Accounting Policies [Line Items] | |||||
Contract liabilities | $ 1,895,000,000 | $ 880,000,000 | $ 154,000,000 | ||
Contract liability revenue recognized | $ 817,000,000 | 107,000,000 | |||
Maturity of cash equivalents | 90 days | ||||
Deposits with certain financial institutions | $ 1,639,000 | 1,573,000 | |||
Accounts receivable, allowance for doubtful accounts | 0 | 6,000 | |||
Trade accounts receivable, net of allowance for doubtful accounts of $0 and $6, respectively | 210,000 | 226,000 | $ 706,000,000 | ||
Inventory purchased from related party | 811,000 | ||||
Inventory write-downs | $ 353,000 | 493,000 | |||
Number of operating segments | Segment | 1 | ||||
Impairment of goodwill and intangible assets | $ 0 | 0 | |||
Impairment of long-lived assets | 0 | 0 | |||
Advertising expense | $ 750,000 | $ 410,000 | |||
Percentage of tax benefit likely to being realized upon settlement | 50.00% | ||||
Uncertain tax positions | $ 0 | ||||
Anti-dilutive securities excluded from computation of earnings (loss) per share | shares | 1,507,000 | 2,968,000 | |||
Reverse stock split description | one-for-ten reverse stock split | one-for-ten reverse split | |||
Reverse stock split, conversion ratio | 0.1 | 0.1 | |||
Accounting Standards Update 2020-06 [Member] | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Change in accounting principle, accounting standards update, adoption date | Jan. 31, 2021 | ||||
Change in accounting principle, accounting standards update, early adoption | true | ||||
Supplier Concentration Risk [Member] | Inventory Purchases [Member] | Major Supplier One [Member] | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Concentration Risk, Percentage | 90.00% | 90.00% | |||
Supplier Concentration Risk [Member] | Inventory Purchases [Member] | Major Supplier Two [Member] | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Concentration Risk, Percentage | 90.00% | 90.00% | |||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Concentration Risk, Percentage | 10.00% | 10.00% | |||
Number of customers | Customer | 0 | 0 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Concentration Risk, Percentage | 10.00% | 10.00% | |||
Number of customers | Customer | 0 | 0 | |||
Apple Products [Member] | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Percentage of product sales | 69.00% | 74.00% | |||
In The Money Common Share Equivalents [Member] | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Anti-dilutive securities excluded from computation of earnings (loss) per share | shares | 3,943,000 | 149,000 | |||
Minimum [Member] | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Estimated useful lives of property and equipment | 3 years | ||||
Maximum [Member] | |||||
Summary Of Significant Accounting Policies [Line Items] | |||||
Estimated useful lives of property and equipment | 5 years |
Summary of Significant Accoun_5
Summary of Significant Accounting Policies - Reconciliation of Cash, Cash Equivalents and Restricted Cash (Detail) - USD ($) $ in Thousands | Jan. 29, 2022 | Jan. 30, 2021 | Feb. 01, 2020 |
Regulatory Assets [Abstract] | |||
Cash and cash equivalents | $ 1,828 | $ 1,536 | |
Restricted cash (short term) | 1,255 | 1,310 | |
Total | $ 3,083 | $ 2,846 | $ 3,169 |
Summary of Significant Accoun_6
Summary of Significant Accounting Policies - Summary of Financial Assets and Liabilities Measured at Fair Value (Detail) - Recurring [Member] - Level 3 [Member] - Derivative Liability [Member] $ in Thousands | 12 Months Ended |
Jan. 30, 2021USD ($) | |
Fair Value Liabilities Measured On Recurring Basis Unobservable Input Reconciliation [Line Items] | |
Balance, February 1, 2020 | $ 2,528 |
Change in fair value of derivative liability | (543) |
Derecognition of derivative liability upon debt conversion and cancellation of warrants | $ (1,985) |
Property and Equipment - Summar
Property and Equipment - Summary of Property and Equipment (Detail) - USD ($) $ in Thousands | Jan. 29, 2022 | Jan. 30, 2021 |
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 5,053 | $ 2,472 |
Less accumulated depreciation and amortization | (1,566) | (1,171) |
Total | 3,487 | 1,301 |
Machinery and Equipment [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 492 | 240 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | 1,227 | 666 |
Leasehold Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Property and equipment, gross | $ 3,334 | $ 1,566 |
Property and Equipment - Additi
Property and Equipment - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Jan. 29, 2022 | Jan. 30, 2021 | |
Property Plant And Equipment [Abstract] | ||
Depreciation and amortization expense | $ 737,000 | $ 534,000 |
Goodwill and Intangible Asset_2
Goodwill and Intangible Assets - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Jan. 29, 2022 | Jan. 30, 2021 | |
Acquired Finite Lived Intangible Assets [Line Items] | ||
Amortization expense | $ 142,000 | $ 141,000 |
Goodwill | 699,000 | 699,000 |
Impairment of goodwill and intangible assets | 0 | 0 |
Simply Mac, Inc. [Member] | ||
Acquired Finite Lived Intangible Assets [Line Items] | ||
Amortization expense | 142,000 | 141,000 |
Goodwill | $ 699,000 | $ 699,000 |
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 |
Goodwill and Intangible Asset_3
Goodwill and Intangible Assets - Summary of Definite-Lived Intangible Assets Arose From Acquisition (Detail) - USD ($) $ in Thousands | Jan. 29, 2022 | Jan. 30, 2021 |
Acquired Finite Lived Intangible Assets [Line Items] | ||
Definite-lived intangible assets, gross | $ 2,110 | $ 2,102 |
Less accumulated amortization | (331) | (189) |
Total | 1,779 | 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 |
Simply Deals Domain Name [Member] | ||
Acquired Finite Lived Intangible Assets [Line Items] | ||
Definite-lived intangible assets, gross | $ 8 |
Accrued Expenses and Other Cu_3
Accrued Expenses and Other Current Liabilities - Schedule of Accrued Expenses (Detail) - USD ($) $ in Thousands | Jan. 29, 2022 | Jan. 30, 2021 |
Payables And Accruals [Abstract] | ||
Accrued compensation (wages, benefits, severance, vacation) | $ 1,316 | $ 1,187 |
Customer deposits | 1,895 | 880 |
Accrued interest | 383 | 113 |
Accrued sales taxes | 417 | 561 |
Accrued income taxes | 242 | 243 |
Other accruals | 144 | 564 |
Total | $ 4,397 | $ 3,548 |
Notes Payable - Schedule of Not
Notes Payable - Schedule of Notes Payable (Detail) - USD ($) $ in Thousands | Jan. 29, 2022 | Jan. 30, 2021 |
Debt Instrument [Line Items] | ||
Total face amount | $ 6,927 | $ 4,348 |
Amount classified as current | 3,988 | 2,478 |
Amount classified as long-term | 2,939 | 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 | |
10% Secured Note Due November 23, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Total face amount | $ 3,677 |
Notes Payable - Schedule of N_2
Notes Payable - Schedule of Notes Payable (Parenthetical) (Detail) - Notes Payable [Member] | 12 Months Ended | |
Jan. 29, 2022 | 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 |
10% Secured Note Due November 23, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Notes payable, interest rate | 10.00% | 10.00% |
Notes payable, maturity date | Nov. 23, 2022 | Nov. 23, 2022 |
Notes Payable - Additional Info
Notes Payable - Additional Information (Detail) | Jan. 18, 2022USD ($) | Nov. 23, 2021USD ($) | Oct. 28, 2021 | Mar. 10, 2021USD ($) | Oct. 19, 2020 | Apr. 16, 2020USD ($) | Mar. 11, 2020USD ($) | Sep. 25, 2019USD ($)Installment | Jan. 29, 2022USD ($) | Jan. 30, 2021USD ($) |
Debt Instrument [Line Items] | ||||||||||
Notes payable, maturity, 2023 | $ 3,988,000 | |||||||||
Notes payable, maturity, 2024 | 533,000 | |||||||||
Notes payable, maturity, 2025 | 1,784,000 | |||||||||
Notes payable, maturity, 2026 | 533,000 | |||||||||
Notes payable, maturity, 2027 | 89,000 | |||||||||
Notes payable, outstanding amount | 6,927,000 | $ 4,348,000 | ||||||||
(Loss) gain on debt conversion | 3,139,000 | 13,642,000 | ||||||||
Interest expense | 2,709,000 | 1,048,000 | ||||||||
Accretion of discount | 2,270,000 | 666,000 | ||||||||
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 | |||||||||
(Loss) gain on debt conversion | $ 3,139,000 | |||||||||
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. | |||||||||
Loan and Security Agreement [Member] | Line Financial Corp. [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Notes payable, maturity date | Nov. 23, 2022 | |||||||||
Note payable, frequency of periodic payment | Interest is accrued daily and payable monthly. | |||||||||
Loan, maximum amount available for borrow | $ 2,800,000 | $ 6,000,000 | $ 4,608,000 | |||||||
Loan, purchase inventory for upcoming holiday season amount | $ 500,000 | |||||||||
Loan, weekly payment percentage | 75.00% | |||||||||
Loan, fee percentage | 2.00% | |||||||||
Loan, fee amount | $ 120,000 | |||||||||
Loan, repaid | 3,731,000 | |||||||||
Loan, remaining amount available for borrow | 877,000 | |||||||||
Loan, frequency of payment and payment terms | 14 weekly principal payments | |||||||||
Loan, first repayment beginning | $ 200,000 | |||||||||
Loan, first repayment period | Feb. 25, 2022 | |||||||||
Loan and Security Agreement [Member] | Line Financial Corp. [Member] | Prime Rate [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Loan, interest rate percentage | 6.75% | |||||||||
Loan and Security Agreement [Member] | Line Financial Corp. [Member] | Floor Rate [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Loan, interest rate percentage | 3.25% | |||||||||
Notes Payable [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Interest expense | 274,000 | 1,048,000 | ||||||||
Accretion of discount | $ 668,000 | |||||||||
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% | |||||||||
Number of equal installments of principal value of note | Installment | 4 | |||||||||
Debt instrument, periodic payment | $ 1,965,000 | |||||||||
Installment period of note | 3 months | |||||||||
Notes payable, outstanding amount | $ 7,858,000 | |||||||||
Amended Promissory Note | 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 | |||||||||
10% Secured Note Due November 23, 2022 [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Notes payable, outstanding amount | 3,677,000 | |||||||||
10% Secured Note Due November 23, 2022 [Member] | Loan and Security Agreement [Member] | Line Financial Corp. [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Loan, maximum amount available for borrow | $ 3,677,000 | |||||||||
10% Secured Note Due November 23, 2022 [Member] | Notes Payable [Member] | ||||||||||
Debt Instrument [Line Items] | ||||||||||
Notes payable, interest rate | 10.00% | 10.00% | ||||||||
Notes payable, maturity date | Nov. 23, 2022 | Nov. 23, 2022 |
Related Parties - Summary of No
Related Parties - Summary of Notes Payable to Related Parties (Detail) - USD ($) | Jan. 29, 2022 | Jan. 30, 2021 |
Debt Instrument [Line Items] | ||
Total face amount | $ 6,927,000 | $ 4,348,000 |
Amount classified as current | 3,988,000 | 2,478,000 |
Notes payable | 2,939,000 | 1,870,000 |
9% Unsecured Convertible Note Due February 5, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized discount | (19,000) | |
9% Unsecured Convertible Note Due April 14, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized discount | (296,000) | |
9% Unsecured Convertible Note Due April 21, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized discount | (317,000) | |
9% Unsecured Convertible Note Due May 7, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Unamortized discount | (178,000) | |
Notes Payable To Related Parties [Member] | ||
Debt Instrument [Line Items] | ||
Total face amount | 3,000,000 | 400,000 |
Unamortized discount | (811,000) | |
Total carrying value | 2,189,000 | 400,000 |
Amount classified as current | 400,000 | |
Notes payable | 2,189,000 | |
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 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 | |
Notes Payable To Related Parties [Member] | 9% Unsecured Convertible Note Due May 7, 2022 [Member] | ||
Debt Instrument [Line Items] | ||
Total face amount | $ 500,000 |
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 | Jan. 29, 2022 | 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 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 | ||
9% Unsecured Convertible Note Due May 7, 2022 [Member] | ||||
Debt Instrument [Line Items] | ||||
Notes payable, interest rate | 9.00% | 9.00% | 9.00% | |
Notes payable, maturity date | May 7, 2022 | May 7, 2022 |
Related Parties - Additional In
Related Parties - Additional Information (Detail) - USD ($) | Nov. 05, 2021 | Oct. 21, 2021 | Oct. 14, 2021 | Aug. 05, 2021 | Jul. 06, 2021 | Jan. 30, 2021 | Oct. 31, 2021 | Oct. 30, 2021 | Dec. 31, 2020 | Mar. 31, 2020 | Jan. 29, 2022 | Jan. 30, 2021 | Apr. 30, 2021 | Mar. 31, 2021 | Jan. 21, 2021 |
Debt Instrument [Line Items] | |||||||||||||||
Notes payable, outstanding amount | $ 4,348,000 | $ 6,927,000 | $ 4,348,000 | ||||||||||||
Warrants exercisable into shares of common stock | 418,000,000 | ||||||||||||||
Interest expense | 2,709,000 | 1,048,000 | |||||||||||||
Accretion of discount | 2,270,000 | 666,000 | |||||||||||||
Accrued interest | 113,000 | 383,000 | 113,000 | ||||||||||||
Lease term | 3 years | ||||||||||||||
Operating lease, monthly rent expense | $ 5,250 | ||||||||||||||
Common Stock [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt exchange conversion price per unit | $ 2.50 | $ 1.70 | |||||||||||||
Warrants exercisable into shares of common stock | 247,000 | 247,000 | |||||||||||||
Exercise price of warrants, per share | $ 0.50 | $ 0.50 | |||||||||||||
Convertible notes converted into shares of common stock | 4,814,000 | ||||||||||||||
Warrants [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Convertible notes converted into shares of common stock | 453,000,000 | ||||||||||||||
EV Toys LLC [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Tenant improvements cost reimbursed | $ 239,000 | ||||||||||||||
Purchases of products from related party | 1,257,000 | ||||||||||||||
Accounts payable, outstanding balance | 1,000,000 | ||||||||||||||
Smash Technologies LLC [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Purchases of products from related party | 2,182,000 | ||||||||||||||
Accounts payable, outstanding balance | 508,000 | ||||||||||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt discount being amortized to interest expense term | 6 months | ||||||||||||||
Interest expense | 788,000 | ||||||||||||||
Accretion of discount | 743,000 | ||||||||||||||
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 | 1.08 | ||||||||||||||
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 | 0.0052 | ||||||||||||||
9% Unsecured Convertible Note Due January 6, 2022 [Member] | SOL Global [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Notes payable, maturity date | Jan. 6, 2022 | ||||||||||||||
Ownership percentage | 10.00% | ||||||||||||||
Convertible notes converted into shares of common stock | 418,000 | ||||||||||||||
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] | Unsecured Convertible Notes and Warrants [Member] | SOL Global [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 | ||||||||||||||
Interest expense | 618,000 | ||||||||||||||
Accretion of discount | 573,000 | ||||||||||||||
Unamortized discount | 19,000 | ||||||||||||||
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 | 1.08 | ||||||||||||||
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 | 0.0046 | ||||||||||||||
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] | Unsecured Convertible Notes and Warrants [Member] | SOL Global [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 April 14, 2022 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt discount being amortized to interest expense term | 6 months | ||||||||||||||
Interest expense | 436,000 | ||||||||||||||
Accretion of discount | 416,000 | ||||||||||||||
Unamortized discount | 296,000 | ||||||||||||||
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 | 1.08 | ||||||||||||||
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 | 0.0073 | ||||||||||||||
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] | Unsecured Convertible Notes and Warrants [Member] | SOL Global [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Notes payable, interest rate | 9.00% | ||||||||||||||
Convertible notes amount | $ 750,000 | ||||||||||||||
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 | ||||||||||||||
Interest expense | 401,000 | ||||||||||||||
Accretion of discount | 383,000 | ||||||||||||||
Unamortized discount | 317,000 | ||||||||||||||
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 | 1.08 | ||||||||||||||
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 | 0.0089 | ||||||||||||||
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] | Unsecured Convertible Notes and Warrants [Member] | SOL Global [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Notes payable, interest rate | 9.00% | ||||||||||||||
Convertible notes amount | $ 750,000 | ||||||||||||||
Convertible notes term | 6 months | ||||||||||||||
9% Unsecured Convertible Note Due May 7, 2022 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Debt discount being amortized to interest expense term | 6 months | ||||||||||||||
Interest expense | 166,000 | ||||||||||||||
Accretion of discount | 155,000 | ||||||||||||||
Unamortized discount | 178,000 | ||||||||||||||
9% Unsecured Convertible Note Due May 7, 2022 [Member] | Common Stock [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Warrants exercisable into shares of common stock | 200,000 | ||||||||||||||
9% Unsecured Convertible Note Due May 7, 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 May 7, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Price Volatility [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Fair value assumption | 1.07 | ||||||||||||||
9% Unsecured Convertible Note Due May 7, 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 May 7, 2022 [Member] | Warrants [Member] | Valuation Technique, Option Pricing Model [Member] | Measurement Input, Risk Free Interest Rate [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Fair value assumption | 0.0076 | ||||||||||||||
9% Unsecured Convertible Note Due May 7, 2022 [Member] | Unsecured Convertible Notes and Warrants [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Warrants value | $ 333,000 | ||||||||||||||
Effective annual interest rate | 226.00% | ||||||||||||||
9% Unsecured Convertible Note Due May 7, 2022 [Member] | Unsecured Convertible Notes and Warrants [Member] | SOL Global [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Notes payable, interest rate | 9.00% | ||||||||||||||
Convertible notes amount | $ 500,000 | ||||||||||||||
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 | 3,000,000 | 400,000 | ||||||||||||
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 | 22,000 | |||||||||||||
Interest expense | 2,418,000 | $ 22,000 | |||||||||||||
Accretion of discount | 2,270,000 | ||||||||||||||
Unamortized discount | 811,000 | ||||||||||||||
Notes Payable To Related Parties [Member] | SOL Global [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Accrued interest | 94,000 | ||||||||||||||
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% | ||||||||||||
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% | ||||||||||||
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% | ||||||||||||
Notes Payable To Related Parties [Member] | 9% Unsecured Convertible Note Due May 7, 2022 [Member] | |||||||||||||||
Debt Instrument [Line Items] | |||||||||||||||
Notes payable, outstanding amount | $ 500,000 | ||||||||||||||
Notes payable, maturity date | May 7, 2022 | May 7, 2022 | |||||||||||||
Notes payable, interest rate | 9.00% | 9.00% | 9.00% |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) - USD ($) | 12 Months Ended | |
Jan. 29, 2022 | Jan. 30, 2021 | |
Income Tax Contingency [Line Items] | ||
Federal statutory income tax rate | 21.00% | |
Federal income tax net operating loss carryforwards | $ 37,700,000 | |
Federal operating loss carryforwards expiration year | 2027 | |
State net operating loss carryforwards | $ 14,900,000 | |
State operating loss carryforwards expiration year | 2023 | |
Percentage of change in ownership | 50.00% | |
Net operating loss carryforwards limitation on use ownership change period | 3 years | |
Federal and state net operating loss carryforwards limitations on use | $ 17,300,000 | |
Cumulative effect on retained earnings | (67,040,000) | $ (55,919,000) |
Unrecognized tax benefits | 0 | |
Cumulative Effect Period of Adoption Adjustment [Member] | Restatement Adjustment [Member] | ||
Income Tax Contingency [Line Items] | ||
Cumulative effect on retained earnings | 0 | |
Continuing Operations [Member] | ||
Income Tax Contingency [Line Items] | ||
Federal income tax net operating loss carryforwards | 29,800,000 | |
Discontinued Operations [Member] | ||
Income Tax Contingency [Line Items] | ||
Federal income tax net operating loss carryforwards | $ 7,900,000 | |
Earliest Tax Year [Member] | ||
Income Tax Contingency [Line Items] | ||
Open tax year | 2007 | |
Latest Tax Year [Member] | ||
Income Tax Contingency [Line Items] | ||
Open tax year | 2021 | |
Tax Year After 2017 [Member] | ||
Income Tax Contingency [Line Items] | ||
Federal income tax net operating loss carryforwards, indefinitely carried forward | $ 27,200,000 | |
Tax Year Prior to 2018 [Member] | ||
Income Tax Contingency [Line Items] | ||
Federal income tax net operating loss carryforwards, subject to expiration | $ 10,500,000 |
Income Taxes - Components of In
Income Taxes - Components of Income Tax Provision (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 29, 2022 | Jan. 30, 2021 | |
Current tax provision: | ||
State | $ 28 | $ 51 |
Total | 28 | 51 |
Deferred tax provision: | ||
Total provision for income taxes | $ 28 | $ 51 |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Income Taxes (Detail) - USD ($) $ in Thousands | 12 Months Ended | |
Jan. 29, 2022 | Jan. 30, 2021 | |
Income Tax Disclosure [Abstract] | ||
Income tax at U.S. federal statutory rate | $ (2,330) | $ 936 |
State taxes, net of federal benefit | 6 | 51 |
Non-deductible (non-taxable) items, net | (612) | (2,475) |
Foreign income tax rate differential | 13 | |
Valuation allowance | 2,281 | 13 |
Expiration of net operating losses | 1,966 | |
Debt discount | 647 | |
Change in state rates | 22 | |
Other | 1 | (440) |
Total provision for income taxes | $ 28 | $ 51 |
Income Taxes - Significant Comp
Income Taxes - Significant Components of Deferred Tax Assets and Liabilities (Detail) - USD ($) $ in Thousands | Jan. 29, 2022 | Jan. 30, 2021 |
Non-current deferred tax assets: | ||
Total | $ 14,667 | $ 9,080 |
Valuation allowance | (11,463) | (6,009) |
Net deferred tax assets | 3,204 | 3,071 |
Deferred tax liabilities: | ||
Depreciation | (288) | (761) |
Right of use assets | (2,712) | (2,310) |
Debt discount | (204) | |
Net deferred tax liabilities | (3,204) | (3,071) |
Deferred Tax Non-current [Member] | ||
Non-current deferred tax assets: | ||
Net operating loss | 8,563 | 3,959 |
Accrued compensation | 895 | 527 |
Lease liability | 3,079 | 2,396 |
Interest expense | 732 | 597 |
Intangible assets | 1,008 | 1,131 |
Other accruals and reserves | $ 390 | $ 470 |
Commitments and Contingencies -
Commitments and Contingencies - Additional Information (Detail) | 12 Months Ended | ||||
Jan. 29, 2022USD ($)ft² | Jan. 30, 2021USD ($) | Oct. 30, 2021 | Oct. 02, 2020USD ($) | Oct. 01, 2020USD ($) | |
Loss Contingencies [Line Items] | |||||
Lease expiration term | 2031-09 | ||||
Area of small stores | ft² | 1,000 | ||||
Lease term | 3 years | ||||
Operating lease, expense | $ 4,878,000 | $ 4,547,000 | |||
Cash paid for lease liabilities | 3,320,000 | 3,790,000 | |||
Variable lease costs | $ 0 | 0 | |||
Rent abatement credits | $ 250,000 | ||||
Inventory Supplier [Member] | |||||
Loss Contingencies [Line Items] | |||||
Line of credit | $ 3,000,000 | ||||
Eligibility for 401(k) retirement savings plan | 90 days | ||||
Inventory Supplier [Member] | Security Agreement [Member] | |||||
Loss Contingencies [Line Items] | |||||
Line of credit | $ 6,600,000 | ||||
Outstanding payable to related party | $ 5,784,000 | ||||
401(k) retirement savings plan matching contributions | $ 0 | ||||
Outstanding payable to related party | us-gaap:DomesticPlanMember | ||||
Maximum [Member] | |||||
Loss Contingencies [Line Items] | |||||
Area of larger stores | ft² | 5,200 | ||||
Lease initial term | 5 years | ||||
Lease term | 10 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 | Jan. 29, 2022 | Jan. 30, 2021 |
Leases [Abstract] | ||
Operating right of use assets | $ 10,778 | $ 9,121 |
Current operating lease liabilities | 2,536 | 2,717 |
Long-term operating lease liabilities | $ 9,699 | $ 6,736 |
Weighted-average remaining lease term in years | 4 years 4 months 24 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 | Jan. 29, 2022 | Jan. 30, 2021 |
Leases [Abstract] | ||
2023 | $ 3,836 | |
2024 | 3,818 | |
2025 | 3,093 | |
2026 | 2,549 | |
2027 | 1,480 | |
Thereafter | 1,058 | |
Total lease payments | 15,834 | |
Less: interest | (3,599) | |
Total | 12,235 | |
Less: current portion | (2,536) | $ (2,717) |
Long-term portion | $ 9,699 | $ 6,736 |
Stockholders' Deficit - Additio
Stockholders' Deficit - Additional Information (Detail) | Oct. 31, 2020 | Oct. 14, 2020shares | Dec. 31, 2021USD ($)FormerExecutiveshares | Nov. 30, 2021USD ($)shares | Oct. 31, 2021USD ($)PrivatePlacementshares | Sep. 30, 2021USD ($)FormerExecutivePrivatePlacementshares | Aug. 31, 2021USD ($)PrivatePlacementshares | Jun. 30, 2021USD ($)FormerExecutiveshares | Apr. 30, 2021USD ($)$ / sharesshares | Mar. 31, 2021USD ($)FormerExecutive$ / sharesshares | Dec. 31, 2020USD ($)shares | Sep. 30, 2020USD ($)shares | Aug. 31, 2020USD ($)shares | Jun. 30, 2020USD ($)Directorshares | Apr. 30, 2020USD ($)shares | Mar. 31, 2020USD ($)ConvertibleNote$ / sharesshares | Jan. 29, 2022USD ($)shares | Jan. 30, 2021USD ($)FormerExecutiveshares | Dec. 31, 2019USD ($)shares | Jul. 06, 2021USD ($)$ / sharesshares | Nov. 30, 2019shares | Dec. 31, 2018shares | Jun. 30, 2015shares |
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Preferred stock, shares authorized | shares | 10,000,000 | 10,000,000 | |||||||||||||||||||||
Preferred stock, shares outstanding | shares | 2,000 | 2,000 | |||||||||||||||||||||
Common stock, shares authorized | shares | 150,000,000 | 150,000,000 | |||||||||||||||||||||
Common stock, shares outstanding | shares | 12,886,000 | 11,465,000 | |||||||||||||||||||||
Promissory note principal amount | $ 6,927,000 | $ 4,348,000 | |||||||||||||||||||||
Debt exchange conversion aggregate amount | 1,045,000 | 6,615,000 | |||||||||||||||||||||
(Loss) gain on debt conversion | 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 | ||||||||||||||||||||||
Debt conversion | 1,045,000 | ||||||||||||||||||||||
Number of shares granted, value | 2,000,000 | ||||||||||||||||||||||
Number of outside directors | Director | 2 | ||||||||||||||||||||||
Number of former executives | FormerExecutive | 3 | 3 | 3 | 3 | 3 | ||||||||||||||||||
Reverse stock split description | one-for-ten reverse stock split | one-for-ten reverse split | |||||||||||||||||||||
Reverse stock split, conversion ratio | 0.1 | 0.1 | |||||||||||||||||||||
Warrants exercisable into shares of common stock | shares | 418,000,000 | ||||||||||||||||||||||
Proceeds from warrant exercises | $ 123,000 | $ 123,000 | $ 123,000 | ||||||||||||||||||||
Term of vesting schedule | 10 years | ||||||||||||||||||||||
Vested share exercised | 3 months | ||||||||||||||||||||||
Stock options granted under equity incentive plans | shares | 286,000 | 855,000 | |||||||||||||||||||||
Expected life | 5 years | 5 years | |||||||||||||||||||||
Risk-free interest rate, minimum | 0.70% | 0.20% | |||||||||||||||||||||
Risk-free interest rate, maximum | 0.72% | 0.30% | |||||||||||||||||||||
Stock-based compensation expense | $ 1,103,000 | $ 1,332,000 | |||||||||||||||||||||
Expected dividend yield | 0.00% | 0.00% | |||||||||||||||||||||
Stock issued during period, shares | $ 216,000 | ||||||||||||||||||||||
Reduction in value of warrants | 89,000 | ||||||||||||||||||||||
Compensation expense | $ 127,000 | ||||||||||||||||||||||
Warrant unexercised | shares | 247,000 | ||||||||||||||||||||||
Warrants, expiration date | Jan. 6, 2021 | ||||||||||||||||||||||
Warrants extend expiration period | 4 months | ||||||||||||||||||||||
Warrants, extended expiration date | May 6, 2021 | ||||||||||||||||||||||
Future stock-based compensation | $ 1,416,000 | ||||||||||||||||||||||
Minimum [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Expected life | 2 years 8 months 8 days | ||||||||||||||||||||||
Maximum [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Expected life | 2 years 9 months | ||||||||||||||||||||||
Stock Option [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Stock-based compensation expense | $ 305,000 | $ 722,000 | |||||||||||||||||||||
Unregistered Shares [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Stock issued during period, shares | shares | 300,000 | ||||||||||||||||||||||
Stock issued during period, values | shares | 300,000 | ||||||||||||||||||||||
Restricted Stock Award [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Stock-based compensation expense | 17,000 | $ 93,000 | |||||||||||||||||||||
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 18 days | ||||||||||||||||||||||
2015 Equity Incentive Plan [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Common stock authorized for issuance there-under | shares | 1,500,000 | 1,500,000 | 79,000 | 5,000 | |||||||||||||||||||
SOL Global [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Convertible notes amount | $ 1,045,000,000 | ||||||||||||||||||||||
Private Placement | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Proceeds from common stock issue | $ 2,000,000 | $ 2,000,000 | $ 2,000,000 | ||||||||||||||||||||
Number of private placements | PrivatePlacement | 4 | 4 | 4 | ||||||||||||||||||||
Director | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Common stock issued | shares | 295,000 | ||||||||||||||||||||||
Number of shares granted, value | $ 390,000 | ||||||||||||||||||||||
Director and Employee [Member] | Restricted Stock Award [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Common stock issued | shares | 750,000 | ||||||||||||||||||||||
Number of shares granted, value | $ 1,898,000 | ||||||||||||||||||||||
Stock-based compensation expense | $ 780,000 | ||||||||||||||||||||||
Exchange [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [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 | ||||||||||||||||||||||
(Loss) gain on debt conversion | $ 204,000 | ||||||||||||||||||||||
Shares holders blocker percentage | 4.99% | ||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Convertible notes converted into shares of common stock | shares | 4,814,000 | ||||||||||||||||||||||
Debt exchange conversion price per unit | $ / shares | $ 1.70 | $ 2.50 | |||||||||||||||||||||
(Loss) gain on debt conversion | $ 6,472,000 | ||||||||||||||||||||||
Debt and related derivative liability at the time of extinguishment | 8,341,000 | ||||||||||||||||||||||
Debt conversion | $ 1,869,000 | ||||||||||||||||||||||
Common stock issued | shares | 1,068,000 | 575,000 | |||||||||||||||||||||
Stock repurchased | shares | 70,000 | ||||||||||||||||||||||
Stock retired | shares | 70,000 | ||||||||||||||||||||||
Stock repurchased and retired value | $ 28,000 | ||||||||||||||||||||||
Reverse stock split description | 1-for-10 | ||||||||||||||||||||||
Reverse stock split, conversion ratio | 0.1 | ||||||||||||||||||||||
Stock issued during period, shares, reverse stock splits | shares | 2,000 | ||||||||||||||||||||||
Warrants exercisable into shares of common stock | shares | 247,000 | 247,000 | |||||||||||||||||||||
Exercise price of warrants, per share | $ / shares | $ 0.50 | $ 0.50 | |||||||||||||||||||||
Debt exchange conversion price per unit | $ / shares | $ 1.70 | $ 2.50 | |||||||||||||||||||||
Expected annualized volatility rate, minimum | 95.00% | ||||||||||||||||||||||
Expected annualized volatility rate maximum | 108.00% | ||||||||||||||||||||||
Expected annualized volatility rate | 107.00% | ||||||||||||||||||||||
Common Stock [Member] | Private Placement | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Common stock issued | shares | 576,000 | 576,000 | 576,000 | ||||||||||||||||||||
Common Stock [Member] | Director | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Common stock issued | shares | 80,000,000 | ||||||||||||||||||||||
Number of shares granted, value | $ 106,000 | ||||||||||||||||||||||
Common Stock [Member] | Former Executive | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Common stock issued | shares | 28,000 | 28,000 | 28,000 | 28,000 | 54,000 | 54,000 | 54,000 | ||||||||||||||||
Number of shares granted, value | $ 89,000 | $ 89,000 | $ 89,000 | $ 89,000 | $ 57,000 | $ 57,000 | $ 57,000 | ||||||||||||||||
Common Stock [Member] | Sponsorship Agreement [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Common stock issued | shares | 63,000 | ||||||||||||||||||||||
Number of shares granted, value | $ 250,000 | ||||||||||||||||||||||
Common Stock [Member] | Other Expenses [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Common stock issued | shares | 1,040,000 | ||||||||||||||||||||||
Number of shares granted, value | $ 415,000 | ||||||||||||||||||||||
Common Stock [Member] | Simply Mac, Inc. [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Common stock issued | shares | 1,040,000 | ||||||||||||||||||||||
Common Stock [Member] | Exchange [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Convertible notes converted into shares of common stock | shares | 86,800 | ||||||||||||||||||||||
Debt exchange conversion price per unit | $ / shares | $ 5.10 | ||||||||||||||||||||||
Common stock issued | shares | 5,882,000 | ||||||||||||||||||||||
Shares delivered | shares | 270,000 | ||||||||||||||||||||||
Shares remain to be delivered | shares | 5,612,000 | ||||||||||||||||||||||
Debt exchange conversion price per unit | $ / shares | $ 5.10 | ||||||||||||||||||||||
Warrants [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Convertible notes converted into shares of common stock | shares | 453,000,000 | ||||||||||||||||||||||
Stock issued during period, shares | $ 227,000 | ||||||||||||||||||||||
Series A Convertible Preferred Stock [Member] | |||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award [Line Items] | |||||||||||||||||||||||
Preferred stock, shares authorized | shares | 10,000,000 | ||||||||||||||||||||||
Preferred stock, shares outstanding | shares | 2,000,000 | ||||||||||||||||||||||
Percentage of outstanding shares authorized for issuance | 0.00% | ||||||||||||||||||||||
Preferred stock, conversion basis | The preferred shares are essentially convertible into common stock of the Company on a one-for-one basis at the election of the holder. |
Stockholders' Deficit - Summary
Stockholders' Deficit - Summary of Stock Option Activity (Detail) - USD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Jan. 29, 2022 | Jan. 30, 2021 | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | ||
Shares, Outstanding, Beginning balance | 855,000 | |
Shares, Granted | 286,000 | 855,000 |
Shares, Outstanding, Ending balance | 1,141,000 | 855,000 |
Shares, Vested and expected to vest | 1,141,000 | |
Shares, Exercisable | 854,000 | |
Shares, Non-vested | 287,000 | |
Wtd. Avg. Exercise Price, Outstanding, Beginning balance | $ 1.74 | |
Wtd. Avg. Exercise Price, Granted | 2.53 | |
Wtd. Avg. Exercise Price, Outstanding, Ending balance | 1.88 | $ 1.74 |
Wtd. Avg. Exercise Price, Vested and expected to vest | 1.88 | |
Wtd. Avg. Exercise Price, Exercisable | 1.75 | |
Wtd. Avg. Exercise Price, Non-vested | $ 2.29 | |
Wtd. Avg. Remaining Contractual Life, Outstanding | 4 years | |
Wtd. Avg. Remaining Contractual Life, Vested and expected to vest | 4 years | |
Wtd. Avg. Remaining Contractual Life, Exercisable | 3 years 10 months 2 days | |
Wtd. Avg. Remaining Contractual Life, Non-vested | 4 years 5 months 23 days | |
Aggregate Intrinsic Value, Outstanding | $ 565 | |
Aggregate Intrinsic Value, Vested and expected to vest | 565 | |
Aggregate Intrinsic Value, Exercisable | 512 | |
Aggregate Intrinsic Value, Non-vested | $ 53 |
Stockholders' Deficit - Summa_2
Stockholders' Deficit - Summary of Stock Option Activity (Parenthetical) (Detail) | 12 Months Ended |
Jan. 29, 2022$ / shares | |
Disclosure Of Compensation Related Costs Sharebased Payments [Abstract] | |
Closing stock price | $ 2.32 |
Non-vested, Weighted average grant-date fair value | $ 1.45 |
Sale of Latin American Subsid_2
Sale of Latin American Subsidiary - Additional Information (Detail) - Verablue Caribbean Group, S.R.L. ("Verablue") [Member] - Definitive Agreement [Member] | Apr. 06, 2020USD ($)Store |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |
Proceeds from sale of business | $ 100,000 |
Dominican Republic [Member] | |
Income Statement Balance Sheet And Additional Disclosures By Disposal Groups Including Discontinued Operations [Line Items] | |
Number of retail consumer electronics stores | Store | 7 |
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 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Details) - Subsequent Events [Member] - Account Payable Settlement Agreement [Member] shares in Thousands, $ in Thousands | Mar. 31, 2022USD ($)Vendorshares |
Subsequent Event [Line Items] | |
Number of related party vendor | Vendor | 2 |
Accounts payable, related parties | $ | $ 3,191,000 |
Revolution Brands International LLC [Member] | |
Subsequent Event [Line Items] | |
Common stock issued | shares | 2,280,000 |