Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2018 | Aug. 13, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | Northern Power Systems Corp. | |
Entity Central Index Key | 1,605,997 | |
Trading Symbol | nps | |
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) | 23,853,884 | |
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 |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 670 | $ 3,873 |
Accounts receivable — net of allowance for doubtful accounts $17 at June 30, 2018 and $0 at December 31, 2017 | 833 | 1,537 |
Unbilled revenue | 290 | 1,284 |
Inventories — net (Note 5) | 4,857 | 5,273 |
Deferred costs | 152 | |
Prepaid expenses and other current assets | 690 | 739 |
Total current assets | 7,340 | 12,858 |
Property, plant and equipment — net (Note 6) | 1,117 | 1,367 |
Goodwill | 361 | 361 |
Other assets | 109 | 54 |
Total Assets | 8,927 | 14,640 |
CURRENT LIABILITIES: | ||
Working capital revolving line of credit (Note 8) | 1,007 | 1,500 |
Accounts payable | 5,318 | 6,815 |
Accrued expenses (Note 9) | 1,905 | 2,641 |
Accrued compensation | 751 | 931 |
Deferred revenue | 1,869 | 1,739 |
Customer deposits | 1,801 | 1,804 |
Other current liabilities | 235 | 126 |
Total current liabilities | 12,886 | 15,556 |
Deferred revenue, less current portion | 967 | 1,337 |
Deferred income taxes (Note 13) | 48 | 42 |
Total Liabilities | 13,901 | 16,935 |
Commitments and Contingencies (Note 16) | ||
SHAREHOLDERS’ DEFICIENCY: | ||
Voting common shares, no par value — Unlimited shares authorized; 23,853,884 shares issued and outstanding as of June 30, 2018 and December31, 2017 | 165,680 | 165,680 |
Additional paid-in capital | 9,298 | 9,278 |
Accumulated other comprehensive income (loss) | (20) | (4) |
Accumulated deficit | (179,932) | (177,249) |
Total Shareholders’ Deficiency | (4,974) | (2,295) |
Total Liabilities and Shareholders’ Deficiency | $ 8,927 | $ 14,640 |
Consolidated Balance Sheets (C3
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) $ / shares in Thousands, $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Allowance for doubtful account | $ 17 | $ 0 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares issued (in shares) | 23,853,884 | 23,853,884 |
Common stock, shares outstanding (in shares) | 23,853,884 | 23,853,884 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
REVENUES: | ||||
Revenues | $ 2,198 | $ 17,764 | $ 3,758 | $ 23,967 |
Gross margin | 367 | 3,604 | 731 | 4,359 |
OPERATING EXPENSES: | ||||
Sales and marketing | 490 | 686 | 1,121 | 1,322 |
Research and development | 284 | 506 | 627 | 1,134 |
General and administrative | 748 | 1,254 | 1,701 | 2,387 |
Gain on sale of assets | (150) | (375) | ||
Total operating expenses | 1,522 | 2,296 | 3,449 | 4,468 |
(Loss) income from operations | (1,155) | 1,308 | (2,718) | (109) |
Interest expense | (29) | (13) | (56) | (26) |
Other (expense) income | 193 | (404) | (12) | (148) |
(Loss) income before provision for income taxes | (991) | 891 | (2,786) | (283) |
Provision for income taxes | 20 | 18 | 35 | 34 |
NET (LOSS) INCOME | (1,011) | 873 | (2,821) | (317) |
Other comprehensive (loss) income | ||||
Change in cumulative translation adjustment | (30) | 40 | (16) | 51 |
COMPREHENSIVE (LOSS) INCOME | (1,041) | 913 | (2,837) | (266) |
Net (loss) income applicable to common shareholders (Note3) | $ (1,011) | $ 873 | $ (2,821) | $ (317) |
Net (loss) income per common share | ||||
Basic and diluted (in dollars per share) | $ (0.04) | $ 0.04 | $ (0.12) | $ (0.01) |
Weighted average shares used in calculating: | ||||
Basic earnings per share (in shares) | 23,853,884 | 23,661,884 | 23,853,884 | 23,637,752 |
Diluted earnings per share (in shares) | 23,853,884 | 23,675,321 | 23,853,884 | 23,637,752 |
Product [Member] | ||||
REVENUES: | ||||
Revenues | $ 1,307 | $ 16,014 | $ 1,978 | $ 21,209 |
Cost of revenues | 1,255 | 13,120 | 1,957 | 17,798 |
Service [Member] | ||||
REVENUES: | ||||
Revenues | 891 | 1,750 | 1,780 | 2,758 |
Cost of revenues | $ 576 | $ 1,040 | $ 1,070 | $ 1,810 |
Consolidated Statement of Chang
Consolidated Statement of Changes In Shareholders' Equity (Deficiency) (Unaudited) - 6 months ended Jun. 30, 2018 - USD ($) $ in Thousands | Common Stock [Member] | Additional Paid-in Capital [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2017 | 23,853,884 | ||||
Balance at Dec. 31, 2017 | $ 165,680 | $ 9,278 | $ (4) | $ (177,249) | $ (2,295) |
Stock based compensation expense | 20 | 20 | |||
Change in cumulative translation adjustment | (16) | (16) | |||
Cumulative effect of new accounting principle at Dec. 31, 2017 | 138 | 138 | |||
Net loss | (2,821) | (2,821) | |||
Balance (in shares) at Jun. 30, 2018 | 23,853,884 | ||||
Balance at Jun. 30, 2018 | $ 165,680 | $ 9,298 | $ (20) | $ (179,932) | $ (4,974) |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands | 6 Months Ended | |
Jun. 30, 2018 | Jun. 30, 2017 | |
OPERATING ACTIVITIES: | ||
Net loss | $ (2,821) | $ (317) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Provision for inventory obsolescence | 8 | 3 |
Provision for doubtful accounts | 17 | |
Stock-based compensation expense | 20 | 77 |
Depreciation and amortization | 250 | 255 |
Gain on sale of assets | (375) | |
Deferred income taxes | 7 | 7 |
Changes in operating assets and liabilities: | ||
Accounts receivable and unbilled revenue | 1,224 | (3,361) |
Other current and noncurrent assets | (7) | 336 |
Inventories | 409 | 768 |
Deferred costs | 152 | 175 |
Accounts payable | (1,498) | 3,140 |
Accrued expenses | (922) | (26) |
Customer deposits | (3) | (2,166) |
Deferred revenue and other short term liabilities | (5) | (123) |
Net cash used in operating activities | (3,169) | (1,607) |
INVESTING ACTIVITIES: | ||
Proceeds from sale of assets | 475 | 2,550 |
Purchases of property and equipment | (250) | |
Net cash provided by investing activities | 475 | 2,300 |
FINANCING ACTIVITIES: | ||
Proceeds (payments) on revolving line of credit, net of borrowings | (493) | 290 |
Net cash (used in) provided by financing activities | (493) | 290 |
Effect of exchange rate change on cash | (16) | 51 |
Change in cash and cash equivalents | (3,203) | 1,034 |
Cash and cash equivalent — Beginning of Period | 3,873 | 5,423 |
Cash and cash equivalent — End of Period | 670 | 6,457 |
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION: | ||
Cash paid for interest | 29 | 4 |
Cash paid for income taxes | $ 1 | $ 21 |
Note 1 - Description of Busines
Note 1 - Description of Business | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Business Description and Accounting Policies [Text Block] | 1. DESCRIPTION OF BUSINESS Northern Power Systems Corp. (together with its consolidated subsidiaries, “we”, “us”, “our”, “Northern Power Systems” or the “Company”) is a provider of advanced renewable power generation and power conversion technology for the distributed energy sector. We design, manufacture and service a suite of proven permanent magnet direct-drive (“PMDD”) wind turbine platforms for the distributed wind market and provide power converters, software controls, and integration and development services for battery energy storage applications. In 2017, 1974 The Company is headquartered and our principal manufacturing is in Barre, Vermont, and certain finance and business development teams are located in Massachusetts, with additional sales members located in Zurich, Switzerland, and sales and service members in Bari, Italy, and warehousing and manufacturing in Bisaccia, Italy, and Cornwall, U.K. The Company previously operated under the name Wind Power Holding, Inc. and was originally incorporated in Delaware on August 12, 2008. On May 31, 2018, not $3.0 30 $2.0 30 September 13, 2018 not September 7, 2018. September 21, 2018, 30 Liquidity $179.9 $5.5 June 30, 2018 $3.2 six June 30, 2018. In the fourth 2017, $2.0 $2.5 December 31, 2017 June 30, 2019. second 2018 August 2, 2018, $0.9 November 30, 2018. August 2, 2018, $1.88 August 7, 2018, $0.12 $2.0 $0.75 may August 2018. Historically, our revenue has been driven by international sales. The Italian authorities have drafted a new law that is currently under review. The new law provides for a feed-in-tariff from the date of publication until December 31, 2020. 2018 2020 2018 2018 2020 fourth 2018, no twelve not may Basis of Presentation 10 8 X. not 2017 10 December 31, 2017 No. 000 55184 December 31, 2017 six June 30, 2018 not may December 31, 2018. January 1, 2018, No. 2014 09, Revenue from Contracts with Customers. $0.1 January 1, 2018. 2 Comprehensive Loss Recent Accounting Pronouncements In May 2014, No. 2014 09, Revenue from Contracts with Customers 606” 606 606 December 15, 2017. may 606. January, 1, 2018 not 606 605. no 606 not 605. 606 $0.1 January 1, 2018. not 2 In February 2016, No. 2016 02, Leases 842 December 15, 2018 December 15, 2019. In August 2016, No. 2016 15, Statement of Cash Flows 230 230.This eight 2016 15 December 15, 2017, not In May 2017, 2017 09, Compensation – Stock Compensation: Scope of Modification Accounting 2017 09 December 15, 2017. In February 2018, 2018 02— Income Statement—Reporting Comprehensive Income (Topic 220 December 15, 2018, 1 not 2 not not In February 2018, 2018 03—Technical 825 10 December 15, 2017, June 15, 2018. December 15, 2017, June 15, 2018, not June 15, 2018, June 15, 2018, December 15, 2018, not 2016 01. 2016 01. may December 15, 2017, 2016 01. not In June 2018, 2018 07 718 718, 505 50, December 15, 2018, December 15, 2019, December 15, 2020. no 606, not There were no 2017 10 |
Note 2 - Revenue
Note 2 - Revenue | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 2. REVENUE On January 1, 2018, 606 not December 31, 2017. January 1, 2018 606, not $0.1 606 605. no 606 not 605. The impact of adopting Topic 606 605 three $0 six June 30, 2018 $0.6 $0.1 January 1, 2018. Performance obligations - A performance obligation is a promise made within a contract to transfer a good or service to a customer, and is the unit of accounting under ASC 606. Allocation of contract value The contract transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligations are satisfied. For contracts entered with customers located in Italy, the Company considers that there is a sufficient population of contracts and uses actual recent historical sales price data to establish a range within which can be considered as estimated stand-alone pricing for the product, installation and commissioning services. For any units that fall outside of the average range by plus or minus 10%, not Timing of revenue recognition Revenues from product sales are recognized at a point in time when control is transferred which is generally at the time of shipment. Revenues from commissioning and installations services are recognized when the services have been completed. Revenues from other services including extended warranty, operations and maintenance (O&M), and Performance Guaranty Program (PGP) are recognized over time as work is performed and performance obligations are satisfied. The Company uses a time based measure of progress because it transfers the benefit of services over time as it performs the services and recognizes revenue ratably over the time period. For certain international turbine sales, the Company provides logistics services (including shipment and warehousing), and assistance with customer clearance if requested. In these instances, the Company recognizes revenue for the turbine product once it has cleared customs and has been shipped from logistics warehouses. Revenue from installation and commissioning is recognized at a point in time when the services are performed. In certain infrequent cases, the Company will recognize revenue when control is transferred and the Company retains possession of the product if all of the criteria for a bill and hold arrangement have been met which include ( 1 2 3 not three six June 30, 2018, $0.0 $0.6 no 605 three six June 30, 2017. PGP contracts provide maintenance services over a ten 606 not Contract balances – The timing of revenue recognition, billings and cash collections, and the satisfaction of performance obligations results in billed accounts receivable, and unbilled receivables, and contract assets that consist of deferred cost of goods sold. Customer advances and deposits, extended warranties and deferred revenue represent contract liabilities on the consolidated balance sheets. Typically, the final 10% 30% At June 30, 2018, $1.5 one $0.6 2018, $0.6 2019, $0.3 2020. 2021 2022 not one The Company recognized $1.8 six June 30, 2018. $0.2 six June 30, 2018 $0.7 $1.0 six June 30, 2018. Practical Expedients and Exemptions – Sales commissions associated with product sales are expensed when incurred because the Company determined that any portion of the commissions that exceeded a one Disaggregation of Revenue – For the three June 30, 2018, six June 30, 2018, $1.4 $0.6 The following table disaggregates revenue by geographic region based on shipments and/or services to customers: Three Months ended June 30, 2018 Product Service Total Italy - 0.4 0.4 United Kingdom - 0.1 0.1 United States 1.3 0.4 1.7 Total $ 1.3 $ 0.9 $ 2.2 Six Months ended June 30, 2018 Product Service Total Brazil $ 0.6 - $ 0.6 Italy 0.1 0.8 0.9 United States 1.4 0.9 2.3 Total $ 2.1 $ 1.7 $ 3.8 During the three June 30, 2018, $1.4 $0.8 six June 30, 2018, $2.2 $1.6 |
Note 3 - Net Loss Per Share
Note 3 - Net Loss Per Share | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 3. NET LOSS PER SHARE Basic loss per share is determined by dividing net loss attributable to common shareholders by the weighted average common shares outstanding during the period. Diluted income per share is determined by dividing income attributable to common shareholders by diluted weighted average shares outstanding during the period. Diluted weighted average shares reflect the dilutive effect, if any, of potential common shares. To the extent their effect is dilutive, employee equity awards and restricted common shares, based on the treasury stock method, are included in the calculation of diluted earnings per share. All common share options were excluded from the denominator in the calculation of dilutive earnings per share, as their inclusion would have been antidilutive, due to the net loss of the Company. |
Note 4 - Fair Value Measurement
Note 4 - Fair Value Measurement | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 4. FAIR VALUE MEASUREMENT The Company measures fair value using the framework specified in U.S. GAAP. This framework emphasizes that fair value is a market-based measurement, not three Level 1 Level 2 not Level 3 no In some valuations, the inputs used may Financial Instruments June 30, 2018 December 31, 2017, three Nonrecurring Fair Value Measurements no June 30, 2018 December 31, 2017. |
Note 5 - Inventories
Note 5 - Inventories | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 5. INVENTORIES Inventories, net of reserves, as of June 30, 2018 December 31, 2017 June 30, 2018 December 31, 2017 Raw materials $ 2,715 $ 3,069 Work in process 860 597 Finished goods 1,658 1,985 Allowance for obsolescence (376 ) (378 ) Total inventory — net $ 4,857 $ 5,273 For the three June 30, 2018 2017, $2 $3, six June 30, 2018 2017, $8 $3, |
Note 6 - Property, Plant, and E
Note 6 - Property, Plant, and Equipment | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 6. PROPERTY, PLANT, AND EQUIPMENT Property, plant, and equipment, net of depreciation, at June 30, 2018 December 31, 2017 June 30, 2018 December 31, 2017 Lease improvements $ 21 $ 21 Vehicles 69 69 Machinery and equipment 2,354 2,354 Patterns and tooling 788 788 Office furniture and equipment 424 424 Information technology equipment and software 677 677 $ 4,333 $ 4,333 Less accumulated depreciation (3,216 ) (2,966 ) Total property, plant and equipment, net of depreciation $ 1,117 $ 1,367 Depreciation expense was $123 $250 three six June 30, 2018, $128 $246 three six June 30, 2017, Amortization expense for the six June 30, 2018 2017 $0 $9, |
Note 7 - Gain on Sale of Assets
Note 7 - Gain on Sale of Assets | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | 7. GAIN ON SALE OF ASSETS On October 26, 2016, 1.5 two $10.0 $3.0 $17.5 Any future royalty payments will be considered additional proceeds from sale and will be recorded as gain on sale of assets in the consolidated statements of operations. Gain on sale of assets for the three June 30, 2018 2017 $0 $150, six June 30, 2018 2017 $0 $0.4 $0 $0.5 June 30, 2018 December 31, 2017, |
Note 8 - Debt
Note 8 - Debt | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 8. DEBT Debt at June 30, 2018 December 31, 2017 June 30, 2018 December 31, 2017 Working capital revolving line of credit $ 1,007 $ 1,500 In December 2017, December 31, 2017 June 30, 2019. $2.0 $2.5 $1.0 June 30, 2018, $1.0 not not $0.5 June 30, 2018, $0.3 May 29, 2018, no two December 31, 2013 November 2018. may $0.9 November 30, 2018. At June 30, 2018, $1.0 $0 no |
Note 9 - Accrued Expenses
Note 9 - Accrued Expenses | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | 9. ACCRUED EXPENSES Accrued expenses consist of: June 30, 2018 December 31, 2017 Accrued warranties $ 894 $ 1,420 Accrued rebates, allowances and discounts 18 18 Other accrued expenses 993 1,203 Total accrued expenses $ 1,905 $ 2,641 Changes in the Company’s product warranty accrual consisted of the following: Three months ended Six months ended June 30,2018 June 30,2017 June 30,2018 June 30,2017 Beginning balance $ 1,140 $ 1,683 $ 1,420 $ 1,912 Provisions, net of reversals 24 592 49 784 Settlements (270 ) (463 ) (575 ) (884 ) Ending balance $ 894 $ 1,812 $ 894 $ 1,812 |
Note 10 - Capital Structure
Note 10 - Capital Structure | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 10. CAPITAL STRUCTURE Common Shares- No June 30, 2018, 23,853,884 no |
Note 11 - Stock Based Compensat
Note 11 - Stock Based Compensation and Employee Benefit Plans | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | 11. STOCK BASED COMPENSATION AND EMPLOYEE BENEFIT PLANS Northern Power Systems Corp. 2014 “2014 2014 4,000,000 June 27, 2018 2,000,000 6,000,000 2014 A summary of the stock option activity under the 2014 six June 30, 2018, Shares Weighted-Average Exercise Price Average Remaining Weighted-Average Contractual Term (In Years) Aggregate Intrinsic Value Outstanding — December31, 2017 1,888,240 $ 1.19 4.4 $ — Granted — Canceled (129,909 ) $ 0.80 Outstanding — June 30, 2018 1,758,331 $ 1.21 3.9 $ — Exercisable — June 30, 2018 1,417,733 $ 1.46 3.5 $ — Shares vested and expected to vest June 30, 2018 1,727,677 $ 1.43 3.8 $ — As of June 30, 2018, 3,104,289 2014 The aggregate intrinsic value in the table above represents the difference between the fair value of common shares and the exercise price of outstanding, in-the-money, stock options. At June 30, 2018, $37 1.4 There were no six June 30, 2018. In May 2017, 240,000 $0.16 2014 25% 25% June 30, 2017, 25% September 30, 2017 December 31, 2017. The Company recognizes stock-based compensation expense net of estimated forfeitures on a straight-line basis over the requisite service period. The forfeiture rate was 10% three six June 30, 2018 2017. three six June 30, 2018 2017: Three months ended June 30 Six months ended June 30 2018 2017 2018 2017 Cost of revenue $ 1 $ 3 $ 3 $ 5 Sales and marketing 3 8 6 16 Research and development 1 1 2 2 General and administrative 5 38 9 54 Total stock-based compensation expense $ 10 $ 50 $ 20 $ 77 |
Note 12 - 401(k) Plan
Note 12 - 401(k) Plan | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans, Other than Share-based Compensation [Text Block] | 12. 401 The Company has a defined contribution plan covering substantially all of its employees, subject to certain eligibility requirements. Under the plan, participating employees may 15% 25% 6% three June 30, 2018 2017 $10 $11, six June 30, 2018 2017 $24, $24, |
Note 13 - Income Taxes
Note 13 - Income Taxes | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 13. INCOME TAXES For the three six June 30, 2018, $20 $35, $16 $4 three June 30, 2018 $28 $7 six June 30, 2018. For the three six June 30, 2017, $18 $34, $14 $4 three June 30, 2017 $28 $7 six June 30, 2017. During 2017, 35% 21%, one December 31, 2017, 2017 20 2017 may 80% 2018 2017, 2017 On December 22, 2017, No. 118 not December 31, 2017. December 31, 2017, 2017 no one 2017 As of December 31, 2017, $137,277 2028, $81,386 2018 2028, $1,462 2028. may may 382 382 June 30, 2017, September 19, 2008 $2,600 September 20, 2008 June 30, 2017, not not 382. not 382 June 30, 2017, not Income taxes are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. A valuation allowance is established for any deferred tax asset for which realization is not not. June 30, 2018 December 31, 2017 not The Company recognizes in its consolidated financial statements only those tax positions that are “more likely than not” June 30, 2018, no no |
Note 14 - Segment Reporting
Note 14 - Segment Reporting | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | 14. SEGMENT REPORTING The chief operating decision maker re-evaluates the Company’s business structure to best align reporting with the Company’s operating strategies. The Company’s operating strategy includes direct product sales and related service as its core focus. Therefore, the Company has concluded that it has one |
Note 15 - Subsequent Events
Note 15 - Subsequent Events | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 15. SUBSEQUENT EVENTS The Company completed the initial closing of a private placement financing effected under the financial hardship exemption available to companies listed on the Toronto Stock Exchange under certain circumstances (the “Financing”). At the initial closing, the Company issued Convertible Subordinated Promissory Notes (the “Notes”) to certain new investors as well as certain existing investors, in the aggregate amount of C$2,446,642 US$1,880,000. Under the Financing, (i) the new investors agreed to invest up to an aggregate of C$650,703 US$500,000 C$1,952,108 US$1,500,000 may US$2,750,000. C$1,952,108 US$1,500,000 C$494,535 US$380,000. August 7, 2018, $0.12 $2.0 US$750,000 August 31, 2018. The investors may not C$.0675 US$.051 C$.0675 US$.051 32.5% C$.10 US$.076 five July 10, 2018. In connection with the above referenced financing, the Company and Comerica Bank entered into a Forbearance Agreement and Comerica agreed to among other things, to forbear existing defaults and non-compliance under the Loan through the end of November 2018. On August 7, 2018 second 2018, June 30, 2018. August 7, 2018, Except as disclosed above, the Company evaluated subsequent events through the date of the filing and had no |
Note 16 - Commitments and Conti
Note 16 - Commitments and Contingencies | 6 Months Ended |
Jun. 30, 2018 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 16. COMMITMENTS AND CONTINGENCIES During 2015, 2004 not September 30, 2017. 2005 2007 2010 no not 2004 not not The Company has entered into several operating lease agreements, primarily for the lease of office and manufacturing facilities, and office equipment, expiring through 2020. three six June 30, 2018 $68 $135, three six June 30, 2017 $125 $229, June 2017, August 1, 2017 July 31, 2020, three one Years Ending December 31 2018 $ 137 2019 268 2020 157 Total $ 562 |
Note 2 - Revenue (Tables)
Note 2 - Revenue (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Three Months ended June 30, 2018 Product Service Total Italy - 0.4 0.4 United Kingdom - 0.1 0.1 United States 1.3 0.4 1.7 Total $ 1.3 $ 0.9 $ 2.2 Six Months ended June 30, 2018 Product Service Total Brazil $ 0.6 - $ 0.6 Italy 0.1 0.8 0.9 United States 1.4 0.9 2.3 Total $ 2.1 $ 1.7 $ 3.8 |
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, 2018 December 31, 2017 Raw materials $ 2,715 $ 3,069 Work in process 860 597 Finished goods 1,658 1,985 Allowance for obsolescence (376 ) (378 ) Total inventory — net $ 4,857 $ 5,273 |
Note 6 - Property, Plant, and25
Note 6 - Property, Plant, and Equipment (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | June 30, 2018 December 31, 2017 Lease improvements $ 21 $ 21 Vehicles 69 69 Machinery and equipment 2,354 2,354 Patterns and tooling 788 788 Office furniture and equipment 424 424 Information technology equipment and software 677 677 $ 4,333 $ 4,333 Less accumulated depreciation (3,216 ) (2,966 ) Total property, plant and equipment, net of depreciation $ 1,117 $ 1,367 |
Note 8 - Debt (Tables)
Note 8 - Debt (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Line of Credit Facilities [Table Text Block] | June 30, 2018 December 31, 2017 Working capital revolving line of credit $ 1,007 $ 1,500 |
Note 9 - Accrued Expenses (Tabl
Note 9 - Accrued Expenses (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | June 30, 2018 December 31, 2017 Accrued warranties $ 894 $ 1,420 Accrued rebates, allowances and discounts 18 18 Other accrued expenses 993 1,203 Total accrued expenses $ 1,905 $ 2,641 |
Schedule of Product Warranty Liability [Table Text Block] | Three months ended Six months ended June 30,2018 June 30,2017 June 30,2018 June 30,2017 Beginning balance $ 1,140 $ 1,683 $ 1,420 $ 1,912 Provisions, net of reversals 24 592 49 784 Settlements (270 ) (463 ) (575 ) (884 ) Ending balance $ 894 $ 1,812 $ 894 $ 1,812 |
Note 11 - Stock Based Compens28
Note 11 - Stock Based Compensation and Employee Benefit Plans (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Table Text Block] | Three months ended June 30 Six months ended June 30 2018 2017 2018 2017 Cost of revenue $ 1 $ 3 $ 3 $ 5 Sales and marketing 3 8 6 16 Research and development 1 1 2 2 General and administrative 5 38 9 54 Total stock-based compensation expense $ 10 $ 50 $ 20 $ 77 |
NPS Corp Plan 2014 [Member] | |
Notes Tables | |
Share-based Compensation, Stock Options, Activity [Table Text Block] | Shares Weighted-Average Exercise Price Average Remaining Weighted-Average Contractual Term (In Years) Aggregate Intrinsic Value Outstanding — December31, 2017 1,888,240 $ 1.19 4.4 $ — Granted — Canceled (129,909 ) $ 0.80 Outstanding — June 30, 2018 1,758,331 $ 1.21 3.9 $ — Exercisable — June 30, 2018 1,417,733 $ 1.46 3.5 $ — Shares vested and expected to vest June 30, 2018 1,727,677 $ 1.43 3.8 $ — |
Note 16 - Commitments and Con29
Note 16 - Commitments and Contingencies (Tables) | 6 Months Ended |
Jun. 30, 2018 | |
Notes Tables | |
Schedule of Future Minimum Lease Payments for Capital Leases [Table Text Block] | Years Ending December 31 2018 $ 137 2019 268 2020 157 Total $ 562 |
Note 1 - Description of Busin30
Note 1 - Description of Business (Details Textual) | Aug. 07, 2018USD ($) | Aug. 07, 2018USD ($) | Aug. 02, 2018USD ($) | Aug. 02, 2018CAD ($) | May 31, 2018USD ($) | Aug. 31, 2018USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2019USD ($) | Jan. 01, 2018USD ($) | Dec. 31, 2017USD ($) | Nov. 30, 2017USD ($) | Sep. 30, 2017USD ($) |
Market Value of Listed Securities, Stock Exchange Requirement | $ 3,000,000 | ||||||||||||
Market Value of Publicly Held Listed Securities, Stock Exchange Requirement | $ 2,000,000 | ||||||||||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ (179,932,000) | $ (177,249,000) | |||||||||||
Working Capital (Deficit) | (5,500,000) | ||||||||||||
Net Cash Provided by (Used in) Operating Activities, Total | (3,169,000) | $ (1,607,000) | |||||||||||
Working Capital Line of Credit | 2,500,000 | $ 2,000,000 | $ 2,000,000 | ||||||||||
Contract with Customer, Liability, Revenue Recognized | $ 1,800,000 | ||||||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 138,000 | ||||||||||||
Accounting Standards Update 2014-09 [Member] | |||||||||||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ 100,000 | ||||||||||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 100,000 | ||||||||||||
Deferred Revenue | $ (100,000) | ||||||||||||
Scenario, Forecast [Member] | |||||||||||||
Private Placement Financing, Remaining Capital to be Raised | $ 750,000 | ||||||||||||
Contract with Customer, Liability, Revenue Recognized | $ 100,000 | ||||||||||||
Subsequent Event [Member] | |||||||||||||
Working Capital Line of Credit | $ 900,000 | ||||||||||||
Subsequent Event [Member] | Convertible Subordinated Promissory Notes [Member] | |||||||||||||
Proceeds from Convertible Debt | $ 2,000,000 | $ 120,000 | $ 1,880,000 | $ 2,446,642 |
Note 2 - Revenue 1 (Details Tex
Note 2 - Revenue 1 (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jan. 01, 2018 | Dec. 31, 2017 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 2,198,000 | $ 17,764,000 | $ 3,758,000 | $ 23,967,000 | ||
Contract with Customer, Liability, Revenue Recognized | 1,800,000 | |||||
Contract with Customer, Asset, Decrease for Recognition of Deferred Costs | 200 | |||||
Contract with Customer, Liability, Increase for Customer Deposits Collected | 700 | |||||
Contract with Customer, Liability, Decrease for Customer Deposits Settlement | 1,000 | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | $ 138,000 | |||||
Customer Deposits, Current | 1,801,000 | 1,801,000 | 1,804,000 | |||
Retained Earnings (Accumulated Deficit), Ending Balance | (179,932,000) | (179,932,000) | $ (177,249,000) | |||
Transferred at Point in Time [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | 1,400,000 | 1,600,000 | ||||
Transferred over Time [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | 800,000 | 2,200,000 | ||||
Product [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | 1,307,000 | 16,014,000 | 1,978,000 | 21,209,000 | ||
Service [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | 891,000 | $ 1,750,000 | 1,780,000 | $ 2,758,000 | ||
Distributed Wind Products [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | 1,400,000 | |||||
Energy Storage Systems [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | 600,000 | |||||
Accounting Standards Update 2014-09 [Member] | ||||||
Deferred Revenue | $ (100,000) | |||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | |||||
Cumulative Effect of New Accounting Principle in Period of Adoption | 100,000 | |||||
Customer Deposits, Current | (600,000) | (600,000) | ||||
Retained Earnings (Accumulated Deficit), Ending Balance | $ 100,000 | |||||
Accounting Standards Update 2014-09 [Member] | Product [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 0 | 600,000 | ||||
Accounting Standards Update 2014-09 [Member] | Service [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 100,000 |
Note 2 - Revenue 2 (Details Tex
Note 2 - Revenue 2 (Details Textual) | Jun. 30, 2018USD ($) |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2018-07-01 | |
Revenue, Remaining Performance Obligation, Amount | $ 600,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2019-01-01 | |
Revenue, Remaining Performance Obligation, Amount | 600,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2020-01-01 | |
Revenue, Remaining Performance Obligation, Amount | 300,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: (nil) | |
Revenue, Remaining Performance Obligation, Amount | $ 1,500,000 |
Note 2 - Revenue - Disaggregati
Note 2 - Revenue - Disaggregation of Revenue (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Revenue | $ 2,198 | $ 17,764 | $ 3,758 | $ 23,967 |
ITALY | ||||
Revenue | 400 | 900 | ||
BRAZIL | ||||
Revenue | 600 | |||
UNITED KINGDOM | ||||
Revenue | 100 | |||
UNITED STATES | ||||
Revenue | 1,700 | 2,300 | ||
Product [Member] | ||||
Revenue | 1,307 | 16,014 | 1,978 | 21,209 |
Product [Member] | ITALY | ||||
Revenue | 100 | |||
Product [Member] | BRAZIL | ||||
Revenue | 600 | |||
Product [Member] | UNITED KINGDOM | ||||
Revenue | ||||
Product [Member] | UNITED STATES | ||||
Revenue | 1,300 | 1,400 | ||
Service [Member] | ||||
Revenue | 891 | $ 1,750 | 1,780 | $ 2,758 |
Service [Member] | ITALY | ||||
Revenue | 400 | 800 | ||
Service [Member] | BRAZIL | ||||
Revenue | ||||
Service [Member] | UNITED KINGDOM | ||||
Revenue | 100 | |||
Service [Member] | UNITED STATES | ||||
Revenue | $ 400 | $ 900 |
Note 5 - Inventories (Details T
Note 5 - Inventories (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Inventory Write-down | $ 2 | $ 3 | $ 8 | $ 3 |
Note 5 - Inventories - Inventor
Note 5 - Inventories - Inventories, Net of Reserves (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Raw materials | $ 2,715 | $ 3,069 |
Work in process | 860 | 597 |
Finished goods | 1,658 | 1,985 |
Allowance for obsolescence | (376) | (378) |
Total inventory — net | $ 4,857 | $ 5,273 |
Note 6 - Property, Plant, and36
Note 6 - Property, Plant, and Equipment (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Depreciation, Total | $ 123,000 | $ 128,000 | $ 250,000 | $ 246,000 |
Amortization of Intangible Assets, Total | $ 0 | $ 9,000 |
Note 6 - Property, Plant, and37
Note 6 - Property, Plant, and Equipment - Schedule of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Property, plant and equipment | $ 4,333 | $ 4,333 |
Less accumulated depreciation | (3,216) | (2,966) |
Total property, plant and equipment, net of depreciation | 1,117 | 1,367 |
Leasehold Improvements [Member] | ||
Property, plant and equipment | 21 | 21 |
Vehicles [Member] | ||
Property, plant and equipment | 69 | 69 |
Machinery and Equipment [Member] | ||
Property, plant and equipment | 2,354 | 2,354 |
Patterns and Tooling [Member] | ||
Property, plant and equipment | 788 | 788 |
Office Furniture and Equipment [Member] | ||
Property, plant and equipment | 424 | 424 |
Information Technology Equipment and Software [Member] | ||
Property, plant and equipment | $ 677 | $ 677 |
Note 7 - Gain on Sale of Asse38
Note 7 - Gain on Sale of Assets (Details Textual) | Oct. 26, 2016USD ($)MWh | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Jun. 30, 2018USD ($) | Jun. 30, 2017USD ($) | Dec. 31, 2017USD ($) |
Gain (Loss) on Disposition of Assets, Total | $ 150,000 | $ 375,000 | ||||
Unbilled Receivables, Current | 290,000 | 290,000 | $ 1,284,000 | |||
WEG [Member] | ||||||
Acquired Assets and Liabilities, Power Required Capacity | MWh | 1.5 | |||||
Royalty Agreement, Future Maximum Payments Receivable | $ 10,000,000 | |||||
Royalty Agreement, Fixed Payments Receivable | 3,000,000 | |||||
Royalty Agreement, Future Maximum Payments Receivable in Ten Years | $ 17,500,000 | |||||
Gain (Loss) on Disposition of Assets, Total | 0 | $ 150,000 | 0 | $ 400,000 | ||
Unbilled Receivables, Current | $ 0 | $ 0 | $ 500,000 |
Note 8 - Debt (Details Textual)
Note 8 - Debt (Details Textual) - USD ($) | Jun. 30, 2108 | Jun. 30, 2018 | Dec. 31, 2017 | Nov. 30, 2017 | Sep. 30, 2017 |
Working Capital Line of Credit | $ 2,500,000 | $ 2,000,000 | $ 2,000,000 | ||
Line of Credit Covenant, Minimum Requirement for Unencumbered Liquidity Asset Value | 1,000,000 | ||||
Line of Credi Covenant, Maximum Borrowings From Other Lenders | $ 500,000 | ||||
Unencumbered Liquidity Asset Value | $ 300,000 | ||||
Line of Credit Facility, Remaining Borrowing Capacity | 900,000 | ||||
Line of Credit, Current | 1,007,000 | $ 1,500,000 | |||
Letters of Credit Outstanding, Amount | $ 0 |
Note 8 - Debt - Schedule of Deb
Note 8 - Debt - Schedule of Debt (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Working capital revolving line of credit | $ 1,007 | $ 1,500 |
Note 9 - Accrued Expenses - Sum
Note 9 - Accrued Expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands | Jun. 30, 2018 | Mar. 31, 2018 | Dec. 31, 2017 | Jun. 30, 2017 | Mar. 31, 2017 | Dec. 31, 2016 |
Accrued warranties | $ 894 | $ 1,140 | $ 1,420 | $ 1,812 | $ 1,683 | $ 1,912 |
Accrued rebates, allowances and discounts | 18 | 18 | ||||
Other accrued expenses | 993 | 1,203 | ||||
Total accrued expenses | $ 1,905 | $ 2,641 |
Note 9 - Accrued Expenses - Sch
Note 9 - Accrued Expenses - Schedule of Changes in Product Warranty (Details) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Beginning balance | $ 1,140 | $ 1,683 | $ 1,420 | $ 1,912 |
Provisions, net of reversals | 24 | 592 | 49 | 784 |
Settlements | (270) | (463) | (575) | (884) |
Ending balance | $ 894 | $ 1,812 | $ 894 | $ 1,812 |
Note 10 - Capital Structure (De
Note 10 - Capital Structure (Details Textual) - $ / shares $ / shares in Thousands | Jun. 30, 2018 | Dec. 31, 2017 |
Common Stock, No Par Value | $ 0 | $ 0 |
Common Stock, Shares, Issued, Total | 23,853,884 | 23,853,884 |
Class B Restricted Voting Common Shares [Member] | ||
Common Stock, Shares, Issued, Total | 0 |
Note 11 - Stock Based Compens44
Note 11 - Stock Based Compensation and Employee Benefit Plans (Details Textual) - USD ($) $ / shares in Units, $ in Thousands | Jun. 27, 2018 | May 31, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 26, 2018 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Forfeiture Rate | 10.00% | 10.00% | ||||
Employee Stock Option [Member] | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total | $ 37 | $ 37 | ||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 1 year 146 days | |||||
NPS Corp Plan 2014 [Member] | ||||||
Common Stock, Capital Shares Reserved for Future Issuance | 6,000,000 | 4,000,000 | ||||
Common Stock, Increase (Decrease) in Capital Shares Reserved for Future Issuance | 2,000,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant | 3,104,289 | 3,104,289 | ||||
NPS Corp Plan 2014 [Member] | Restricted Stock [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 0 | |||||
NPS Corp Plan 2014 [Member] | Restricted Stock [Member] | Director [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | 240,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period, Weighted Average Grant Date Fair Value | $ 0.16 | |||||
NPS Corp Plan 2014 [Member] | Restricted Stock [Member] | Director [Member] | Share-based Compensation Award, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||
NPS Corp Plan 2014 [Member] | Restricted Stock [Member] | Director [Member] | Share-based Compensation Award, Tranche Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||
NPS Corp Plan 2014 [Member] | Restricted Stock [Member] | Director [Member] | Share-based Compensation Award, Tranche Three [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% | |||||
NPS Corp Plan 2014 [Member] | Restricted Stock [Member] | Director [Member] | Share-based Compensation Award, Tranche Four [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 25.00% |
Note 11 - Stock Based Compens45
Note 11 - Stock Based Compensation and Employee Benefit Plans - Summary of Stock Option Activity (Details) - NPS Corp Plan 2014 [Member] - USD ($) | 6 Months Ended | 12 Months Ended |
Jun. 30, 2018 | Dec. 31, 2017 | |
Outstanding (in shares) | 1,888,240 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 1.19 | |
Outstanding, weighted average remaining contractual term (Year) | 3 years 328 days | 4 years 146 days |
Outstanding, aggregate intrinsic value | ||
Granted (in shares) | ||
Granted, weighted average exercise price (in dollars per share) | ||
Canceled (in shares) | (129,909) | |
Canceled, weighted average exercise price (in dollars per share) | $ 0.80 | |
Outstanding (in shares) | 1,758,331 | 1,888,240 |
Outstanding, weighted average exercise price (in dollars per share) | $ 1.21 | $ 1.19 |
Exercisable (in shares) | 1,417,733 | |
Exercisable, weighted average exercise price (in dollars per share) | $ 1.46 | |
Exercisable, weighted average remaining contractual term (Year) | 3 years 182 days | |
Exercisable, aggregate intrinsic value | ||
Shares vested and expected to vest (in shares) | 1,727,677 | |
Shares vested and expected to vest, weighted average exercise price (in dollars per share) | $ 1.43 | |
Shares vested and expected to vest, weighted average remaining contractual term (Year) | 3 years 292 days | |
Shares vested and expected to vest, aggregate intrinsic value |
Note 11 - Stock Based Compens46
Note 11 - Stock Based Compensation and Employee Benefit Plans - Summary 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 | |
Stock based compensation expense | $ 10 | $ 50 | $ 20 | $ 77 |
Cost of Sales [Member] | ||||
Stock based compensation expense | 1 | 3 | 3 | 5 |
Selling and Marketing Expense [Member] | ||||
Stock based compensation expense | 3 | 8 | 6 | 16 |
Research and Development Expense [Member] | ||||
Stock based compensation expense | 1 | 1 | 2 | 2 |
General and Administrative Expense [Member] | ||||
Stock based compensation expense | $ 5 | $ 38 | $ 9 | $ 54 |
Note 12 - 401(k) Plan (Details
Note 12 - 401(k) Plan (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 15.00% | |||
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 25.00% | |||
Defined Contribution Plan, Employer Discretionary Contribution Amount | $ 10 | $ 11 | $ 24 | $ 24 |
Maximum [Member] | ||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | Dec. 31, 2017 | |
Income Tax Expense (Benefit), Total | $ 20 | $ 18 | $ 35 | $ 34 | |
Current Income Tax Expense (Benefit), Total | 16 | 14 | 28 | 28 | |
Deferred Income Tax Expense (Benefit), Total | 4 | 4 | $ 7 | 7 | |
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent | 21.00% | 35.00% | |||
Operating Loss Carryforwards, Total | $ 2,600 | $ 2,600 | |||
Unrecognized Tax Benefits, Ending Balance | 0 | $ 0 | |||
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued, Total | $ 0 | $ 0 | |||
Research Tax Credit Carryforward [Member] | |||||
Tax Credit Carryforward, Amount | $ 1,462 | ||||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||||
Operating Loss Carryforwards, Total | 137,277 | ||||
State and Local Jurisdiction [Member] | |||||
Operating Loss Carryforwards, Total | $ 81,386 |
Note 14 - Segment Reporting (De
Note 14 - Segment Reporting (Details Textual) | 6 Months Ended |
Jun. 30, 2018 | |
Number of Reportable Segments | 1 |
Note 15 - Subsequent Events (De
Note 15 - Subsequent Events (Details Textual) | Aug. 07, 2018USD ($) | Aug. 07, 2018USD ($) | Aug. 02, 2018USD ($) | Aug. 02, 2018CAD ($) | Aug. 31, 2018USD ($) | Aug. 07, 2018$ / shares | Aug. 07, 2018$ / shares | Aug. 02, 2018CAD ($) | Jul. 10, 2018$ / shares | Jul. 10, 2018$ / shares |
Scenario, Forecast [Member] | ||||||||||
Private Placement Financing, Remaining Capital to be Raised | $ 750,000 | |||||||||
Subsequent Event [Member] | ||||||||||
Private Placement Financing, Maximum Amount of Capital to be Raised | $ 2,750,000 | |||||||||
Share Price | (per share) | $ 0.10 | $ 0.076 | ||||||||
Subsequent Event [Member] | New Investors [Member] | ||||||||||
Private Placement Financing, Agreed Investment Amount | 500,000 | $ 650,703 | ||||||||
Subsequent Event [Member] | Existing Investors [Member] | ||||||||||
Private Placement Financing, Agreed Investment Amount | 1,500,000 | $ 1,952,108 | ||||||||
Subsequent Event [Member] | Convertible Subordinated Promissory Notes [Member] | ||||||||||
Proceeds from Convertible Debt | $ 2,000,000 | $ 120,000 | 1,880,000 | $ 2,446,642 | ||||||
Debt Instrument, Convertible, Conversion Price | (per share) | $ 0.0675 | $ 0.051 | ||||||||
Debt Instrument, Convertible, Percent Discount of Market Price to Conversion Price | 32.50% | |||||||||
Subsequent Event [Member] | Convertible Subordinated Promissory Notes [Member] | New Investors [Member] | ||||||||||
Proceeds from Convertible Debt | 380,000 | 494,535 | ||||||||
Subsequent Event [Member] | Convertible Subordinated Promissory Notes [Member] | Existing Investors [Member] | ||||||||||
Proceeds from Convertible Debt | $ 1,500,000 | $ 1,952,108 |
Note 16 - Commitments and Con51
Note 16 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2018 | Jun. 30, 2017 | Jun. 30, 2018 | Jun. 30, 2017 | |
Operating Leases, Rent Expense, Net, Total | $ 68 | $ 125 | $ 135 | $ 229 |
Headquarters and Production Facility in Barre, Vermont [Member] | ||||
Lessee, Operating Lease, Renewal Term | 3 years | 3 years |
Note 16 - Commitments and Con52
Note 16 - Commitments and Contingencies - Schedule of Future Minimum Lease Payments Under Non-cancellable Lease Agreements (Details) $ in Thousands | Jun. 30, 2018USD ($) |
2,018 | $ 137 |
2,019 | 268 |
2,020 | 157 |
Total | $ 562 |