Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Jul. 31, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | STR HOLDINGS, INC. | |
Entity Central Index Key | 1,473,597 | |
Trading Symbol | stri | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Smaller Reporting Company | |
Entity Current Reporting Status | Yes | |
Entity Voluntary Filers | No | |
Entity Well-known Seasoned Issuer | No | |
Entity Common Stock, Shares Outstanding (in shares) | 20,101,221 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q2 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 11,710 | $ 13,499 |
Bank acceptance notes | 904 | |
Accounts receivable, trade, less allowances for doubtful accounts of $1,734 and $1,725 in 2018 and 2017, respectively | 1,588 | 1,199 |
Inventories, net | 1,357 | 1,110 |
Prepaid expenses | 859 | 748 |
Other current assets | 738 | 767 |
Total current assets | 16,252 | 18,227 |
Property, plant and equipment, net | 7,767 | 8,728 |
Assets held for sale (Note 7) | 6,155 | 6,155 |
Other long-term assets | 78 | 76 |
Total assets | 30,252 | 33,186 |
CURRENT LIABILITIES | ||
Accounts payable | 1,451 | 971 |
Accrued liabilities (Note 8) | 1,349 | 2,307 |
Income taxes payable | 898 | 896 |
Due to factor | 397 | 454 |
Total current liabilities | 4,095 | 4,628 |
Deferred tax liabilities | 969 | 698 |
Total liabilities | 5,064 | 5,326 |
COMMITMENTS AND CONTINGENCIES (Note 9) | ||
Stockholders’ Equity | ||
Preferred stock, $0.01 par value, 20,000,000 shares authorized; no shares issued and outstanding | ||
Common stock, $0.01 par value, 200,000,000 shares authorized; 20,039,461 and 20,038,221 issued and outstanding, respectively, in 2018 and 19,919,529 and 19,918,289 issued and outstanding, respectively, in 2017 | 200 | 195 |
Treasury stock, 1,240 shares at cost | (57) | (57) |
Additional paid–in capital | 232,315 | 232,149 |
Accumulated deficit | (201,827) | (199,072) |
Accumulated other comprehensive loss, net | (5,443) | (5,355) |
Total stockholders’ equity | 25,188 | 27,860 |
Total liabilities and stockholders’ equity | $ 30,252 | $ 33,186 |
Condensed Consolidated Balance3
Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Allowance for doubtful accounts | $ 1,734 | $ 1,725 |
Preferred stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Preferred stock, authorized (in shares) | 20,000,000 | 20,000,000 |
Preferred stock, issued (in shares) | 0 | 0 |
Preferred stock, outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.01 | $ 0.01 |
Common stock, authorized (in shares) | 200,000,000 | 200,000,000 |
Common stock issued (in shares) | 20,039,461 | 19,919,529 |
Common stock, outstanding (in shares) | 20,038,221 | 19,918,289 |
Treasury stock, shares (in shares) | 1,240 | 1,240 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net sales | $ 2,515 | $ 3,057 | $ 6,261 | $ 6,770 |
Cost of sales | 3,490 | 3,695 | 5,935 | 7,905 |
Gross (loss) profit | (975) | (638) | 326 | (1,135) |
Selling, general and administrative expenses | 1,380 | 1,299 | 3,072 | 3,280 |
Research and development expense | 190 | 236 | 405 | 550 |
Provision (recovery) for bad debt expense | 67 | (215) | 6 | (380) |
Operating loss | (2,612) | (1,958) | (3,157) | (4,585) |
Interest income (expense), net | 16 | (3) | 15 | (7) |
Other income, net | 183 | 1,632 | 1,203 | 1,206 |
Loss on disposal of fixed assets | (383) | (16) | (383) | (13) |
Foreign currency transaction loss | (106) | (64) | (162) | (75) |
Loss before income tax expense (benefit) | (2,902) | (409) | (2,484) | (3,474) |
Income tax expense (benefit) | 172 | (125) | 271 | (143) |
Net loss | (3,074) | (284) | (2,755) | (3,331) |
Other comprehensive (loss) income: | ||||
Foreign currency translation (net of tax effect of $(81), $205, $(36) and $257, respectively) | (542) | 501 | (88) | 631 |
Other comprehensive (loss) income | (542) | 501 | (88) | 631 |
Comprehensive (loss) income | $ (3,616) | $ 217 | $ (2,843) | $ (2,700) |
Net loss per share (Note 3): | ||||
Basic (in dollars per share) | $ (0.16) | $ (0.02) | $ (0.14) | $ (0.18) |
Diluted (in dollars per share) | $ (0.16) | $ (0.02) | $ (0.14) | $ (0.18) |
Weighted–average shares outstanding (Note 3): | ||||
Basic (in shares) | 19,669,353 | 18,913,427 | 19,607,204 | 18,839,391 |
Diluted (in shares) | 19,669,353 | 18,913,427 | 19,607,204 | 18,839,391 |
Condensed Consolidated Stateme5
Condensed Consolidated Statements of Comprehensive (Loss) Income (Unaudited) (Parentheticals) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Foreign currency translation, tax effect | $ (81) | $ 205 | $ (36) | $ 257 |
Condensed Consolidated Stateme6
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
OPERATING ACTIVITIES | ||
Net loss | $ (2,755) | $ (3,331) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation | 383 | 753 |
Stock–based compensation expense | 161 | 252 |
Gain (loss) on disposal of property, plant and equipment | 383 | 13 |
Provision (recovery) for bad debt expense | 6 | (380) |
Impairment of assets held for sale | 0 | 267 |
Proceeds from insurance claim | 1,475 | |
Provision (recovery) for deferred taxes | 271 | (302) |
Customer forfeiture of deposit | (940) | |
Changes in operating assets and liabilities: | ||
Accounts receivable | (637) | 1,010 |
Inventories, net | (269) | (170) |
Other current assets | 860 | 1,624 |
Accounts payable | 244 | (274) |
Accrued liabilities | 67 | 233 |
Income taxes payable | 4 | 2 |
Other, net | 150 | (23) |
Total net cash (used in) provided by operating activities | (2,072) | 1,149 |
INVESTING ACTIVITIES | ||
Capital investments | (36) | (410) |
Proceeds from sale of fixed assets | 238 | |
Total net cash provided by (used in) investing activities | 202 | (410) |
FINANCING ACTIVITIES | ||
Factoring arrangement | (46) | 111 |
Total net cash (used in) provided by financing activities | (46) | 111 |
Effect of exchange rate changes on cash | 127 | 175 |
Net change in cash and cash equivalents | (1,789) | 1,025 |
Cash and cash equivalents, beginning of period | 13,499 | 12,379 |
Cash and cash equivalents, end of period | $ 11,710 | $ 13,404 |
Note 1 - Basis of Presentation
Note 1 - Basis of Presentation | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block] | NOTE 1—BASIS The accompanying Condensed Consolidated Financial Statements and the related interim information contained within the notes to the Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and the applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial information and quarterly reports on the Form 10 not December 31, 2017, 10–K March 16, 2018. not The year-end Condensed Consolidated Balance Sheet data was derived from audited financial statements, but does not The preparation of the Condensed Consolidated Financial Statements in conformity with GAAP requires management to make significant estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from management’s estimates. |
Note 2 - Recent Accounting Pron
Note 2 - Recent Accounting Pronouncements and Adoption | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
New Accounting Pronouncements and Changes in Accounting Principles [Text Block] | NOTE 2—RECENT In May 2014, No. 2014 09, 606 December 15, 2017. 2016, The Company adopted the new revenue recognition standard (“ASC 606” January 1, 2018. January 1, 2018 606, not 605, Revenue Recognition no 2018. 606 606 Revenue is principally derived from the sale and licensing of highly engineered plastic sheet and film products. The Company receives specific purchase orders for the manufacture, sale and delivery of these products that identify the goods and/or services to be transferred, the price for those goods and other commercial terms of the order. The goods are generally purchased under EXW (or EX-Works) terms, meaning that the customer is responsible for arranging the shipping of the goods and title passes when the goods are picked up from the Company’s dock. Revenue is recognized upon the transfer of title, and there are no In the specific case of the Equipment Purchase Agreement and a Technology License Agreement (the “Agreements”) signed on January 16, 2018 $6,000, third one customer’s personnel in the Equipment’s use. Under the license agreement, the Company has granted the customer the right to use the formula for the Encapsulant and certain of the Company’s production techniques to make or have made the Encapsulant for use in photovoltaic (PV) modules manufactured by the customer. For revenue recognition purposes, the Company defines the following three Obligation 1 $1,750 Obligation 2 $2,000 Obligation 3 $2,250 Obligation 1 two 2 3 The Company is applying a “cost-plus” approach to Obligation 1 2. no no 3. not The Company also assessed whether it was acting in a principal or agent role in each performance obligation of the Agreements. In all obligations, the Company determined it was acting in the role of principal and therefore revenue is recognized on a gross basis. As a result, the Company recognized $1,750 March 31, 2018 1, 2018 2019(a) Total Revenue expected to be recognized during the year ended December 31 $ 1,750 $ 4,250 $ 6,000 (a) $2,000 $2,250 There are no may |
Note 3 - Loss Per Share
Note 3 - Loss Per Share | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | NOTE 3—LOSS The calculation of basic and diluted net loss per share for the periods presented is as follows: Three Months Ended Six Months Ended 2018 2017 2018 2017 Basic and diluted net loss per share Numerator: Net loss $ (3,074 ) $ (284 ) $ (2,755 ) $ (3,331 ) Denominator: Weighted–average shares outstanding 19,669,353 18,913,427 19,607,204 18,839,391 Add: Dilutive effect of stock options — — — — Dilutive effect of restricted common stock — — — — Weighted–average shares outstanding with dilution 19,669,353 18,913,427 19,607,204 18,839,391 Net loss per share: Basic $ (0.16 ) $ (0.02 ) $ (0.14 ) $ (0.18 ) Diluted $ (0.16 ) $ (0.02 ) $ (0.14 ) $ (0.18 ) Due to the net loss for the three six June 30, 2018 2017, not Because the effect would be anti-dilutive, there were 1,121,332 not three six June 30, 2018. 1,121,332 not three six June 30, 2017. |
Note 4 - Bank Acceptance Notes
Note 4 - Bank Acceptance Notes | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4—BANK Customers in China may Bank acceptance notes consist of the following: June 30, December 31, Balance as of beginning of period $ 904 $ 3,360 Received from customers — 1,985 Converted to cash (888 ) (3,508 ) Paid to suppliers — (1,162 ) Foreign exchange impact (16 ) 229 Balance as of end of period $ — $ 904 |
Note 5 - Inventories
Note 5 - Inventories | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | NOTE 5—INVENTORIES Inventories consist of the following: June 30, December 31, Finished goods $ 365 $ 340 Raw materials 996 829 Reserve (4 ) (59 ) Inventories, net $ 1,357 $ 1,110 |
Note 6 - Long-lived Assets
Note 6 - Long-lived Assets | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6—LONG Impairment Testing In accordance with ASC 360 may not At June 30, 2018 December 31, 2017, three June 30, 2018. no 2018. may |
Note 7 - Assets Held for Sale
Note 7 - Assets Held for Sale | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Long-lived Assets Held for Sale Disclosure [Text Block] | NOTE 7—ASSETS In July 2015, August 2, 2015. 2016, RM25,000. July 31, 2017, not In accordance with ASC 360 360 10 45 9 June 30, 2018 December 31, 2017 $267, first 2017. |
Note 8 - Accrued Liabilities
Note 8 - Accrued Liabilities | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | NOTE 8—ACCRUED Accrued liabilities consist of the following: June 30, December 31, Salaries and wages $ 323 $ 239 Accrued bonus 210 258 Professional fees 285 319 Restructuring severance and benefits (see Note 10) 102 87 Environmental (see Note 9) 57 57 Accrued franchise tax 79 90 Client deposits 179 1,157 Other 114 100 Total accrued liabilities $ 1,349 $ 2,307 |
Note 9 - Commitments and Contin
Note 9 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 9—COMMITMENTS The Company is a party to claims and litigation in the normal course of its operations. Management believes that the ultimate outcome of these matters will not Product Performance The Company provides a short-term warranty that it has manufactured its products to the Company’s specifications. On limited occasions, the Company incurs costs to service its products in connection with specific product performance matters that do not On isolated occasions, the Company has also offered limited short-term performance warranties relating to its encapsulants not 1970s 20 no no not The Company’s product performance liability that is recorded in accrued liabilities in the Condensed Consolidated Balance Sheets was $ 0 June 30, 2018 December 31, 2017. Environmental During 2010, 10 450 $ 57 June 30, 2018 December 31, 2017. Solaria In October 2016, No. 8 purchased from a vendor in 2005 2006 2006. €3,300, A trial was held on April 6, 2017 not no June 30, 2018 December 31, 2017. |
Note 10 - Cost Reduction Action
Note 10 - Cost Reduction Actions | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | NOTE 10—COST REDUCTION ACTIONS In March 2017 second 2017. not $93 $48 first six 2017 $67 first six 2018. third 2017. In June 2018, June 18, 2018. $588 $67 second 2018. The restructuring accrual consists of $102 June 30, 2018. June 30, June 30, Balance as of beginning of year $ 87 $ 269 Additions 722 143 Reductions (707 ) (177 ) Reversals — (120 ) Balance as of end of period $ 102 $ 115 |
Note 11 - Fair Value Measuremen
Note 11 - Fair Value Measurements | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 11—FAIR The Company measures certain financial assets and liabilities at fair value on a recurring basis in the financial statements. The hierarchy ranks the quality and reliability of inputs, or assumptions, used in the determination of fair value and requires financial assets and liabilities carried at fair value to be classified and disclosed in one three · Level 1 · Level 2 not · Level 3 not The following table provides the fair value measurements of applicable financial assets and liabilities as of June 30, 2018: Financial assets and liabilities at fair value Level 1 Level 2 Level 3 Money market funds (1) $ 7,605 $ — $ — Bank acceptance notes (2) — — — Non-recurring fair value measurements (3) — — 6,155 Total $ 7,605 $ — $ 6,155 The following table provides the fair value measurements of applicable financial assets and liabilities as of December 31, 2017: Financial assets and liabilities at fair value Level 1 Level 2 Level 3 Money market funds (1) $ 6,688 $ — $ — Bank acceptance notes (2) 904 — — Non-recurring fair value measurements (3) — — 6,155 Total $ 7,592 $ — $ 6,155 ________________________ ( 1 Included in cash and cash equivalents on the Company’s Condensed Consolidated Balance Sheets. The carrying amount of money market funds is a reasonable estimate of fair value due to the short-term maturity. ( 2 Refer to Note 4 ( 3 Included in assets held for sale on the Company’s Condensed Consolidated Balance Sheets. Refer to Note 7 |
Note 12 - Factoring Arrangement
Note 12 - Factoring Arrangement | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Factoring Arrangement Disclosure [Text Block] | NOTE 12—FACTORING In October 2015, first 2017. one €1,500 $1,752 June 30, 2018), 2% 2% one 90 June 30, 2018 December 31, 2017 $397 $454, |
Note 13 - Income Taxes
Note 13 - Income Taxes | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 13—INCOME On December 22, 2017, 21% January 1, 2018, one not The SEC staff issued SAB 118 one December 31, 2017, not enactment of the TCJA; however, the Company estimated what it believes to be the effects of the TCJA on its existing deferred tax balances and the one During the three six June 30, 2018, not December 31, 2017. third 2018 2017 The TCJA subjects a U.S. shareholder to tax on global intangible low-taxed income (GILTI) earned by certain foreign subsidiaries for which an entity can make an accounting policy election to either recognize deferred taxes for temporary basis differences expected to reverse as GILTI in future years or provide for the tax expense related to GILTI in the year the tax is incurred. Given the complexity of the GILTI provisions, the Company is still evaluating the effects of the GILTI provisions and has not June 30, 2018, not interpretations on the effects of the TCJA and expects to complete its analysis within the measurement period in accordance with the SEC guidance. During the three six June 30, 2018, $172 $271 5.9% 10.9% three June 30, 2018 There was no three six June 30, 2017 $125 $143, |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 14—STOCKHOLDERS’ Changes in stockholders’ equity for the six June 30, 2018 Common Stock Treasury Stock Additional Accumulated Other Accumulated Total Issued Amount Acquired Amount Capital Loss Deficit Equity Balance at December 31, 2017 19,532,573 $ 195 1,240 $ (57 ) $ 232,149 $ (5,355 ) $ (199,072 ) $ 27,860 Stock-based compensation 505,648 5 — — 166 — — 171 Net loss — — — — — — (2,755 ) (2.755 ) Foreign currency translation, net of tax — — — — — (88 ) — (88 ) Balance at June 30, 2018 20,038,221 $ 200 1,240 $ (57 ) $ 232,315 $ (5,443 ) $ (201,827 ) $ 25,188 Common Stock The Company’s Board of Directors has authorized 200,000,000 $0.01 June 30, 2018, 20,039,461 20,038,221 stock is entitled to one |
Note 15 - Stock-based Compensat
Note 15 - Stock-based Compensation | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 15—STOCK On November 6, 2009, 2009 “2009 May 14, 2013, 2009 2009 4,133,133 2009 2009 2009 determine the terms and conditions of the award, including the number of shares subject to the award, the vesting terms of the award, and the purchase price for the award. Awards may three four ten 431,131 2009 June 30, 2018. The following table summarizes the options activity under the Company’s 2009 six June 30, 2018: Options Outstanding Number Weighted– Weighted– Weighted– Aggregate Balance at December 31, 2017 1,121,332 $ 1.52 — $ 0.99 $ (1,402 ) Options granted — $ — — $ — $ — Exercised — $ — — $ — $ — Canceled/forfeited — $ — — $ — $ — Balance at June 30, 2018 1,121,332 $ 1.52 6.61 $ 0.99 $ (1,402 ) Vested and exercisable as of June 30, 2018 1,121,332 $ 1.52 6.61 $ 0.99 $ (1,402 ) Vested and exercisable as of June 30, 2018 and expected to vest thereafter 1,121,332 $ 1.52 6.61 $ 0.99 $ (1,402 ) _________________ ( 1 The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the closing stock price of $0.27 June 30, 2018. As of June 30, 2018, $0 not six June 30, 2018. The following table summarizes the restricted common stock activity of the Company for the six June 30, 2018: Unvested Number of Weighted– Unvested at December 31, 2017 385,716 $ — Granted 119,932 $ — Vested (505,648 ) $ 0.28 Unvested at June 30, 2018 — $ — Expected to vest after June 30, 2018 — $ — Stock-based compensation expense was included in the following Condensed Consolidated Statements of Comprehensive Loss categories for operations: Three Months Ended Six Months Ended 2018 2017 2018 2017 Selling, general and administrative expense $ 88 $ 132 $ 161 $ 252 Total stock-based compensation expense $ 88 $ 132 $ 161 $ 252 |
Note 16 - Geographical Informat
Note 16 - Geographical Information | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 16—GEOGRAPHICAL ASC 280 10 50 Operations by Geographic Area Three Months Ended Six Months Ended 2018 2017 2018 2017 Net Sales Spain $ 1,906 $ 2,042 $ 3,382 $ 3,754 China — 983 30 2,974 India 478 — 904 — United States 131 32 1,945 42 Total Net Sales $ 2,515 $ 3,057 $ 6,261 $ 6,770 Long-Lived Assets by Geographic Area June 30, December 31, Long-Lived Assets United States $ 1,237 $ 1,311 Spain 6,454 7,141 China 76 276 Total Long-Lived Assets $ 7,767 $ 8,728 Foreign sales are based on the country in which the sales originated. Net sales to four 10% three June 30, 2018 $1,401. two 10% six June 30, 2018 $1,444. one 10% three six June 30, 2018 $683 $1,330, two $1,072 $70 June 30, 2018 December 31, 2017, |
Note 17 - Related Party Transac
Note 17 - Related Party Transaction | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 17—RELATED Huhui Supply Agreement The Company’s Chinese subsidiary, Specialized Technology Resources Solar (Suzhou) Co. Ltd. (“STR China”) entered into a supply agreement (the “Huhui Supply Agreement”) dated as of December 31, 2014 not 535 10% not one first not 30 December 31, 2017, not one 90 end of the then current term that it was electing to terminate the agreement. The Company believes that the terms and conditions set forth in the Huhui Agreement at that time were fair and reasonable to the Company. The Company received $1,148 December 31, 2015, Huhui did not 30 March 27, 2018, Huhui agreed that STR China would retain the Deposit, and each of Huhui and STR China agreed to release the other from any liability or further obligations under the Supply Agreement. The Company recognized the full amount of the deposit as other income on the Condensed Consolidated Statement of Comprehensive Income (Loss). |
Note 2 - Recent Accounting Pr24
Note 2 - Recent Accounting Pronouncements and Adoption (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | 2018 2019(a) Total Revenue expected to be recognized during the year ended December 31 $ 1,750 $ 4,250 $ 6,000 |
Note 3 - Loss Per Share (Tables
Note 3 - Loss Per Share (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months Ended Six Months Ended 2018 2017 2018 2017 Basic and diluted net loss per share Numerator: Net loss $ (3,074 ) $ (284 ) $ (2,755 ) $ (3,331 ) Denominator: Weighted–average shares outstanding 19,669,353 18,913,427 19,607,204 18,839,391 Add: Dilutive effect of stock options — — — — Dilutive effect of restricted common stock — — — — Weighted–average shares outstanding with dilution 19,669,353 18,913,427 19,607,204 18,839,391 Net loss per share: Basic $ (0.16 ) $ (0.02 ) $ (0.14 ) $ (0.18 ) Diluted $ (0.16 ) $ (0.02 ) $ (0.14 ) $ (0.18 ) |
Note 4 - Bank Acceptance Notes
Note 4 - Bank Acceptance Notes (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, Balance as of beginning of period $ 904 $ 3,360 Received from customers — 1,985 Converted to cash (888 ) (3,508 ) Paid to suppliers — (1,162 ) Foreign exchange impact (16 ) 229 Balance as of end of period $ — $ 904 |
Note 5 - Inventories (Tables)
Note 5 - Inventories (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, December 31, Finished goods $ 365 $ 340 Raw materials 996 829 Reserve (4 ) (59 ) Inventories, net $ 1,357 $ 1,110 |
Note 8 - Accrued Liabilities (T
Note 8 - Accrued Liabilities (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, December 31, Salaries and wages $ 323 $ 239 Accrued bonus 210 258 Professional fees 285 319 Restructuring severance and benefits (see Note 10) 102 87 Environmental (see Note 9) 57 57 Accrued franchise tax 79 90 Client deposits 179 1,157 Other 114 100 Total accrued liabilities $ 1,349 $ 2,307 |
Note 10 - Cost Reduction Acti29
Note 10 - Cost Reduction Actions (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Restructuring Reserve by Type of Cost [Table Text Block] | June 30, June 30, Balance as of beginning of year $ 87 $ 269 Additions 722 143 Reductions (707 ) (177 ) Reversals — (120 ) Balance as of end of period $ 102 $ 115 |
Note 11 - Fair Value Measurem30
Note 11 - Fair Value Measurements (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Financial assets and liabilities at fair value Level 1 Level 2 Level 3 Money market funds (1) $ 7,605 $ — $ — Bank acceptance notes (2) — — — Non-recurring fair value measurements (3) — — 6,155 Total $ 7,605 $ — $ 6,155 Financial assets and liabilities at fair value Level 1 Level 2 Level 3 Money market funds (1) $ 6,688 $ — $ — Bank acceptance notes (2) 904 — — Non-recurring fair value measurements (3) — — 6,155 Total $ 7,592 $ — $ 6,155 |
Note 14 - Stockholders' Equity
Note 14 - Stockholders' Equity (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Stockholders Equity [Table Text Block] | Common Stock Treasury Stock Additional Accumulated Other Accumulated Total Issued Amount Acquired Amount Capital Loss Deficit Equity Balance at December 31, 2017 19,532,573 $ 195 1,240 $ (57 ) $ 232,149 $ (5,355 ) $ (199,072 ) $ 27,860 Stock-based compensation 505,648 5 — — 166 — — 171 Net loss — — — — — — (2,755 ) (2.755 ) Foreign currency translation, net of tax — — — — — (88 ) — (88 ) Balance at June 30, 2018 20,038,221 $ 200 1,240 $ (57 ) $ 232,315 $ (5,443 ) $ (201,827 ) $ 25,188 |
Note 15 - Stock-based Compens32
Note 15 - Stock-based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Outstanding Number Weighted– Weighted– Weighted– Aggregate Balance at December 31, 2017 1,121,332 $ 1.52 — $ 0.99 $ (1,402 ) Options granted — $ — — $ — $ — Exercised — $ — — $ — $ — Canceled/forfeited — $ — — $ — $ — Balance at June 30, 2018 1,121,332 $ 1.52 6.61 $ 0.99 $ (1,402 ) Vested and exercisable as of June 30, 2018 1,121,332 $ 1.52 6.61 $ 0.99 $ (1,402 ) Vested and exercisable as of June 30, 2018 and expected to vest thereafter 1,121,332 $ 1.52 6.61 $ 0.99 $ (1,402 ) |
Nonvested Restricted Stock Shares Activity [Table Text Block] | Unvested Number of Weighted– Unvested at December 31, 2017 385,716 $ — Granted 119,932 $ — Vested (505,648 ) $ 0.28 Unvested at June 30, 2018 — $ — Expected to vest after June 30, 2018 — $ — |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three Months Ended Six Months Ended 2018 2017 2018 2017 Selling, general and administrative expense $ 88 $ 132 $ 161 $ 252 Total stock-based compensation expense $ 88 $ 132 $ 161 $ 252 |
Note 16 - Geographical Inform33
Note 16 - Geographical Information (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Revenue from External Customers by Geographic Areas [Table Text Block] | Three Months Ended Six Months Ended 2018 2017 2018 2017 Net Sales Spain $ 1,906 $ 2,042 $ 3,382 $ 3,754 China — 983 30 2,974 India 478 — 904 — United States 131 32 1,945 42 Total Net Sales $ 2,515 $ 3,057 $ 6,261 $ 6,770 |
Long-lived Assets by Geographic Areas [Table Text Block] | June 30, December 31, Long-Lived Assets United States $ 1,237 $ 1,311 Spain 6,454 7,141 China 76 276 Total Long-Lived Assets $ 7,767 $ 8,728 |
Note 2 - Recent Accounting Pr34
Note 2 - Recent Accounting Pronouncements and Adoption 1 (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Mar. 31, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 2,515 | $ 3,057 | $ 6,261 | $ 6,770 | |
Price Report, Formula and Sample [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,750 |
Note 2 - Recent Accounting Pr35
Note 2 - Recent Accounting Pronouncements and Adoption 2 (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2018 | Jan. 16, 2018 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01 | |||
Revenue, Remaining Performance Obligation, Amount | $ 1,750 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01 | Delivery and Installation of Equipment and Training [Member] | |||
Revenue, Remaining Performance Obligation, Amount | 2,000 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |||
Revenue, Remaining Performance Obligation, Amount | [1] | 4,250 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | License [Member] | |||
Revenue, Remaining Performance Obligation, Amount | 2,250 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |||
Revenue, Remaining Performance Obligation, Amount | $ 6,000 | $ 6,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | Price Report, Formula and Sample [Member] | |||
Revenue, Remaining Performance Obligation, Amount | 1,750 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | Delivery and Installation of Equipment and Training [Member] | |||
Revenue, Remaining Performance Obligation, Amount | 2,000 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | License [Member] | |||
Revenue, Remaining Performance Obligation, Amount | $ 2,250 | ||
[1] | $2,000 upon installation of the Equipment and $2,250 upon acceptance and commencement of the License. |
Note 2 - Recent Accounting Pr36
Note 2 - Recent Accounting Pronouncements and Adoption - Expected Recognition of Revenue (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Jan. 16, 2018 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01 | |||
Revenue expected to be recognized during the year ended December 31 | $ 1,750 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |||
Revenue expected to be recognized during the year ended December 31 | [1] | 4,250 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |||
Revenue expected to be recognized during the year ended December 31 | $ 6,000 | $ 6,000 | |
[1] | $2,000 upon installation of the Equipment and $2,250 upon acceptance and commencement of the License. |
Note 3 - Loss Per Share (Detail
Note 3 - Loss Per Share (Details Textual) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Employee Stock Option [Member] | ||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 1,121,332 | 1,121,332 | 1,121,332 | 1,121,332 |
Note 3 - Loss Per Share - Earni
Note 3 - Loss Per Share - Earnings (Loss) Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net loss | $ (3,074) | $ (284) | $ (2,755) | $ (3,331) |
Weighted–average shares outstanding (in shares) | 19,669,353 | 18,913,427 | 19,607,204 | 18,839,391 |
Weighted–average shares outstanding with dilution (in shares) | 19,669,353 | 18,913,427 | 19,607,204 | 18,839,391 |
Basic (in dollars per share) | $ (0.16) | $ (0.02) | $ (0.14) | $ (0.18) |
Diluted (in dollars per share) | $ (0.16) | $ (0.02) | $ (0.14) | $ (0.18) |
Employee Stock Option [Member] | ||||
Dilutive effect of share-based awards (in shares) | ||||
Restricted Stock [Member] | ||||
Dilutive effect of share-based awards (in shares) |
Note 4 - Bank Acceptance Note39
Note 4 - Bank Acceptance Notes - Bank Acceptance Notes (Details) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Balance as of beginning of period | $ 904 | |
Balance as of end of period | ||
Bankers Acceptance [Member] | ||
Balance as of beginning of period | 904 | $ 3,360 |
Received from customers | 1,985 | |
Converted to cash | (888) | (3,508) |
Paid to suppliers | (1,162) | |
Foreign exchange impact | (16) | 229 |
Balance as of end of period | $ 904 |
Note 5 - Inventories - Inventor
Note 5 - Inventories - Inventories (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Finished goods | $ 365 | $ 340 |
Raw materials | 996 | 829 |
Reserve | (4) | (59) |
Inventories, net | $ 1,357 | $ 1,110 |
Note 6 - Long-lived Assets (Det
Note 6 - Long-lived Assets (Details Textual) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Impairment of Long-Lived Assets to be Disposed of | $ 0 | $ 267 |
Note 7 - Assets Held for Sale (
Note 7 - Assets Held for Sale (Details Textual) $ in Thousands, RM in Millions | 6 Months Ended | ||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2016MYR (RM) | |
Proceeds from Sale of Property, Plant, and Equipment, Total | $ 238 | ||
Impairment of Long-Lived Assets to be Disposed of | 0 | $ 267 | |
Malaysia Facility [Member] | |||
Proceeds from Sale of Property, Plant, and Equipment, Total | RM | RM 25 | ||
Impairment of Long-Lived Assets to be Disposed of | $ 267 |
Note 8 - Accrued Liabilities -
Note 8 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Salaries and wages | $ 323 | $ 239 |
Accrued bonus | 210 | 258 |
Professional fees | 285 | 319 |
Restructuring severance and benefits (see Note 10) | 102 | 87 |
Environmental (see Note 9) | 57 | 57 |
Accrued franchise tax | 79 | 90 |
Client deposits | 179 | 1,157 |
Other | 114 | 100 |
Total accrued liabilities | $ 1,349 | $ 2,307 |
Note 9 - Commitments and Cont44
Note 9 - Commitments and Contingencies (Details Textual) € in Millions | 1 Months Ended | ||
Oct. 31, 2016EUR (€) | Jun. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
Loss Contingency Accrual, Ending Balance | $ 0 | $ 0 | |
Solaria Energia y Medio Ambiente S.A. [Member] | Damages from Product Defects [Member] | |||
Loss Contingency Accrual, Ending Balance | 0 | 0 | |
Loss Contingency, Damages Sought, Value | € | € 3.3 | ||
Phase II Environmental Site Assessment [Member] | |||
Accrual for Environmental Loss Contingencies, Ending Balance | $ 57,000 | $ 57,000 |
Note 10 - Cost Reduction Acti45
Note 10 - Cost Reduction Actions (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018 | Jun. 30, 2018 | Jun. 30, 2017 | Mar. 31, 2018 | Mar. 31, 2017 | |
Restructuring Reserve, Ending Balance | $ 102 | $ 102 | $ 115 | $ 87 | $ 269 |
Facility Closing [Member] | Johor, Malaysia [Member] | Cost of Sales [Member] | |||||
Severance Costs | $ 67 | 93 | |||
Facility Closing [Member] | Johor, Malaysia [Member] | Selling, General and Administrative Expenses [Member] | |||||
Severance Costs | $ 48 | ||||
Facility Closing [Member] | SPAIN | Cost of Sales [Member] | |||||
Severance Costs | 588 | ||||
Facility Closing [Member] | SPAIN | Selling, General and Administrative Expenses [Member] | |||||
Severance Costs | $ 67 |
Note 10 - Cost Reduction Acti46
Note 10 - Cost Reduction Actions - Schedule of Restructuring Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
Balance as of beginning of year | $ 87 | $ 269 |
Additions | 722 | 143 |
Reductions | (707) | (177) |
Reversals | (120) | |
Balance | $ 102 | $ 115 |
Note 11 - Fair Value Measurem47
Note 11 - Fair Value Measurements - Fair Value Measurements of Financial Assets and Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 | ||
Fair Value, Inputs, Level 1 [Member] | ||||
Fair Value Assets | $ 7,605 | $ 7,592 | ||
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Non-recurring fair value measurements | [1] | |||
Fair Value, Inputs, Level 2 [Member] | ||||
Fair Value Assets | ||||
Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Non-recurring fair value measurements | [1] | |||
Fair Value, Inputs, Level 3 [Member] | ||||
Fair Value Assets | 6,155 | 6,155 | ||
Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Nonrecurring [Member] | ||||
Non-recurring fair value measurements | 6,155 | [1] | 6,155 | |
Money Market Funds [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Money market funds | [2] | 7,605 | 6,688 | |
Money Market Funds [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Money market funds | [2] | |||
Money Market Funds [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Money market funds | [2] | |||
Bankers Acceptance [Member] | Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Bank acceptance notes | [3] | 904 | ||
Bankers Acceptance [Member] | Fair Value, Inputs, Level 2 [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Bank acceptance notes | [3] | |||
Bankers Acceptance [Member] | Fair Value, Inputs, Level 3 [Member] | Fair Value, Measurements, Recurring [Member] | ||||
Bank acceptance notes | [3] | |||
[1] | Included in assets held for sale on the Company's Condensed Consolidated Balance Sheets. Refer to Note 7 for further information. | |||
[2] | Included in cash and cash equivalents on the Company's Condensed Consolidated Balance Sheets. The carrying amount of money market funds is a reasonable estimate of fair value due to the short-term maturity. | |||
[3] | Refer to Note 4 for further information |
Note 12 - Factoring Arrangeme48
Note 12 - Factoring Arrangement (Details Textual) $ in Thousands, € in Millions | Oct. 01, 2015 | Oct. 31, 2015 | Jun. 30, 2018USD ($) | Jun. 30, 2018EUR (€) | Dec. 31, 2017USD ($) |
Due To Factor, Current | $ 397 | $ 454 | |||
Eurofactor Hispania S.A.U [Member] | Factoring Agreement to Sell with Recourse [Member] | |||||
Factoring Agreement Maximum Outstanding Amount | $ 1,752 | € 1.5 | |||
Term of Agreement | 1 year | ||||
Written Notice Period Prior to End of Current Term | 90 days | ||||
Eurofactor Hispania S.A.U [Member] | Factoring Agreement to Sell with Recourse [Member] | Euro Interbank Offered Rate (EURIBOR) [Member] | |||||
Loans Receivable, Basis Spread on Variable Rate | 2.00% | ||||
Eurofactor Hispania S.A.U [Member] | Factoring Agreement to Sell with Recourse [Member] | London Interbank Offered Rate (LIBOR) [Member] | |||||
Loans Receivable, Basis Spread on Variable Rate | 2.00% |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | |||
Income Tax Expense (Benefit), Total | $ 172 | $ (125) | $ 271 | $ (143) |
Effective Income Tax Rate Reconciliation, Percent, Total | (5.90%) | (10.90%) | ||
Current Federal, State and Local, Tax Expense (Benefit), Total | 0 | 0 | ||
Income Tax Expense (Benefit), Intraperiod Tax Allocation, Total | $ (125) | $ (143) |
Note 14 - Stockholders' Equit50
Note 14 - Stockholders' Equity (Details Textual) | 6 Months Ended | |
Jun. 30, 2018$ / sharesshares | Dec. 31, 2017$ / sharesshares | |
Common Stock, Shares Authorized | 200,000,000 | 200,000,000 |
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.01 | $ 0.01 |
Common Stock, Shares, Issued, Total | 20,039,461 | 19,919,529 |
Common Stock, Shares, Outstanding, Ending Balance | 20,038,221 | 19,918,289 |
Common Stock, Voting Rights Number | 1 |
Note 14 - Stockholders' Equit51
Note 14 - Stockholders' Equity - Schedule of Changes in Stockholders' Equity (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Balance at December 31, 2017 | $ 27,860 | |||
Stock-based compensation | 171 | |||
Net loss | (2,755) | $ (3,331) | ||
Foreign currency translation, net of tax | $ (542) | $ 501 | (88) | $ 631 |
Balance at end of period | $ 25,188 | $ 25,188 | ||
Common Stock [Member] | ||||
Balance at December 31, 2017 (in shares) | 19,532,573 | |||
Balance at December 31, 2017 | $ 195 | |||
Stock-based compensation (in shares) | 505,648 | |||
Stock-based compensation | $ 5 | |||
Net loss | ||||
Foreign currency translation, net of tax | ||||
Balance at end of period (in shares) | 20,038,221 | 20,038,221 | ||
Balance at end of period | $ 200 | $ 200 | ||
Treasury Stock [Member] | ||||
Balance at December 31, 2017 (in shares) | 1,240 | |||
Balance at December 31, 2017 | $ (57) | |||
Stock-based compensation (in shares) | ||||
Stock-based compensation | ||||
Net loss | ||||
Foreign currency translation, net of tax | ||||
Balance at end of period (in shares) | 1,240 | 1,240 | ||
Balance at end of period | $ (57) | $ (57) | ||
Additional Paid-in Capital [Member] | ||||
Balance at December 31, 2017 | 232,149 | |||
Stock-based compensation | 166 | |||
Net loss | ||||
Foreign currency translation, net of tax | ||||
Balance at end of period | 232,315 | 232,315 | ||
AOCI Attributable to Parent [Member] | ||||
Balance at December 31, 2017 | (5,355) | |||
Stock-based compensation | ||||
Net loss | ||||
Foreign currency translation, net of tax | (88) | |||
Balance at end of period | (5,443) | (5,443) | ||
Retained Earnings [Member] | ||||
Balance at December 31, 2017 | (199,072) | |||
Stock-based compensation | ||||
Net loss | (2,755) | |||
Foreign currency translation, net of tax | ||||
Balance at end of period | $ (201,827) | $ (201,827) |
Note 15 - Stock-based Compens52
Note 15 - Stock-based Compensation (Details Textual) - USD ($) | May 14, 2013 | Jun. 30, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 431,131 | |
Share Price | $ 0.27 | |
Proceeds from Stock Options Exercised | $ 0 | |
Employee Stock Option [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 0 | |
Employee Stock Option [Member] | Minimum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |
Employee Stock Option [Member] | Maximum [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |
Equity Incentive Plan 2009 [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | 4,133,133 |
Note 15 - Stock-based Compens53
Note 15 - Stock-based Compensation - Summary of Stock Options Activity (Details) - Employee Stock Option [Member] - USD ($) $ / shares in Units, $ in Thousands | 6 Months Ended | 12 Months Ended | |
Jun. 30, 2018 | Dec. 31, 2017 | ||
Options Outstanding, Number of shares (in shares) | 1,121,332 | ||
Options Outstanding, Weighted–average exercise price (in dollars per share) | $ 1.52 | ||
Options outstanding, Weighted–average Grant–date fair value (in dollars per share) | $ 0.99 | $ 0.99 | |
Options outstanding, Aggregate intrinsic value | [1] | $ (1,402) | $ (1,402) |
Options granted, Number of shares (in shares) | |||
Options granted, Weighted–average exercise price (in dollars per share) | |||
Options granted, Weighted–average Grant–date fair value (in dollars per share) | |||
Exercised, Number of shares (in shares) | |||
Exercised, Weighted–average exercise price (in dollars per share) | |||
Canceled/forfeited, Number of shares (in shares) | |||
Canceled/forfeited, Weighted-average exercise price (in dollars per share) | |||
Cancelled/forfeited, Weighted–average Grant–date fair value (in dollars per share) | |||
Options Outstanding, Number of shares (in shares) | 1,121,332 | 1,121,332 | |
Options Outstanding, Weighted–average exercise price (in dollars per share) | $ 1.52 | $ 1.52 | |
Options outstanding, Weighted–average remaining contractual term (Year) | 6 years 222 days | ||
Vested and exercisable as of December 31, 2017, Number of shares (in shares) | 1,121,332 | ||
Vested and exercisable as of December 31, 2017, Weighted–average exercise price (in dollars per share) | $ 1.52 | ||
Vested and exercisable as of December 31, 2017, Weighted–average remaining contractual term (Year) | 6 years 222 days | ||
Vested and exercisable as of December 31, 2017, Weighted–average Grant–date fair value (in dollars per share) | $ 0.99 | ||
Vested and exercisable as of December 31, 2017, Aggregate intrinsic value | [1] | $ (1,402) | |
Vested and exercisable as of December 31, 2017 and expected to vest thereafter, Number of shares (in shares) | 1,121,332 | ||
Vested and exercisable as of December 31, 2017 and expected to vest thereafter, Weighted-average exercise price (in dollars per share) | $ 1.52 | ||
Vested and exercisable as of December 31, 2017 and expected to vest thereafter, Weighted–average remaining contractual term (Year) | 6 years 222 days | ||
Vested and exercisable as of December 31, 2017 and expected to vest thereafter, Weighted–average Grant–date fair value (in dollars per share) | $ 0.99 | ||
Vested and exercisable as of December 31, 2017 and expected to vest thereafter, Aggregate intrinsic value | [1] | $ (1,402) | |
[1] | The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the closing stock price of $0.27 of the Company's common stock on June 30, 2018. |
Note 15 - Stock-based Compens54
Note 15 - Stock-based Compensation - Summary of Restricted Common Stock Activity (Details) - Restricted Stock [Member] - $ / shares | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2018 | |
Unvested restricted shares, Number of shares (in shares) | 385,716 | |
Unvested, Weighted-average grant-date fair value (in dollars per share) | ||
Granted, Number of shares (in shares) | 119,932 | |
Granted, Weighted-average grant-date fair value (in dollars per share) | ||
Vested, Number of shares (in shares) | (505,648) | |
Vested, Weighted-average grant-date fair value (in dollars per share) | $ 0.28 | |
Unvested restricted shares, Number of shares (in shares) | ||
Unvested, Weighted-average grant-date fair value (in dollars per share) | ||
Expected to vest, Number of shares (in shares) | 385,716 | |
Expected to vest, Weighted-average grant-date fair value (in dollars per share) |
Note 15 - Stock-based Compens55
Note 15 - Stock-based Compensation - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Total stock-based compensation expense | $ 88 | $ 132 | $ 161 | $ 252 |
Selling, General and Administrative Expenses [Member] | ||||
Total stock-based compensation expense | $ 88 | $ 132 | $ 161 | $ 252 |
Note 16 - Geographical Inform56
Note 16 - Geographical Information (Details Textual) $ in Thousands | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) | |
Revenue from Contract with Customer, Including Assessed Tax | $ 2,515 | $ 3,057 | $ 6,261 | $ 6,770 | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | |||||
Number of Major Customers | 4 | 1 | 2 | 1 | |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Four Major Customers [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,401 | ||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Two Major Customers [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,444 | ||||
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | One Major Customers [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 683 | $ 1,330 | |||
Customer Concentration Risk [Member] | Accounts Receivable [Member] | |||||
Number of Major Customers | 2 | ||||
Accounts Receivable, Gross, Current | $ 1,072 | $ 1,072 | $ 70 |
Note 16 - Geographical Inform57
Note 16 - Geographical Information - Schedule of Operations by Geographic Area (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Net sales | $ 2,515 | $ 3,057 | $ 6,261 | $ 6,770 |
SPAIN | ||||
Net sales | 1,906 | 2,042 | 3,382 | 3,754 |
CHINA | ||||
Net sales | 983 | 30 | 2,974 | |
INDIA | ||||
Net sales | 478 | 904 | ||
UNITED STATES | ||||
Net sales | $ 131 | $ 32 | $ 1,945 | $ 42 |
Note 16 - Reportable Segment an
Note 16 - Reportable Segment and Geographical Information - Schedule of Long-lived Assets by Geographic Area (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Long-Lived Assets | $ 7,767 | $ 8,728 |
UNITED STATES | ||
Long-Lived Assets | 1,237 | 1,311 |
SPAIN | ||
Long-Lived Assets | 6,454 | 7,141 |
CHINA | ||
Long-Lived Assets | $ 76 | $ 276 |
Note 17 - Related Party Trans59
Note 17 - Related Party Transaction (Details Textual) - Huhui Supply Agreement [Member] $ in Thousands | 12 Months Ended | |
Dec. 31, 2015USD ($) | Dec. 31, 2014MWh | |
Related Party Transaction, Agreement Term | 1 year | |
Related Party Transaction, Automatic Renewal Additional Term | 1 year | |
Zhangjiagang Huhui Segpv Co Ltd [Member] | ||
Related Party Transaction, Minimum Square Meters Transaction | MWh | 535 | |
Related Party Transaction, Deposit Percentage on Minimum Amount | 10.00% | |
Related Party Transaction, Notice Period Prior to End of Current Term | 90 days | |
Zhangjiagang Huhui Segpv Co Ltd [Member] | Accrued Liabilities [Member] | ||
Related Party Transaction, Client Deposit Received from Related Party | $ | $ 1,148 |