Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Mar. 08, 2017 | Jun. 30, 2016 | |
Document Information [Line Items] | |||
Entity Registrant Name | QUALSTAR CORP | ||
Entity Central Index Key | 758,938 | ||
Trading Symbol | qbak | ||
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) | 2,042,019 | ||
Entity Public Float | $ 2,715,049 | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2016 | ||
Document Fiscal Year Focus | 2,016 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Current assets: | ||
Cash and cash equivalents | $ 3,691,000 | $ 3,863,000 |
Restricted cash | 100,000 | 100,000 |
Accounts receivable, net | 1,583,000 | 1,630,000 |
Inventories, net | 1,360,000 | 2,444,000 |
Prepaid expenses and other current assets | 166,000 | 219,000 |
Total current assets | 6,900,000 | 8,256,000 |
Property and equipment, net | 286,000 | 446,000 |
Other assets | 77,000 | 25,000 |
Total assets | 7,263,000 | 8,727,000 |
Current liabilities: | ||
Accounts payable | 888,000 | 756,000 |
Accrued payroll and related liabilities | 222,000 | 332,000 |
Deferred service revenue | 787,000 | 994,000 |
Other accrued liabilities | 359,000 | 467,000 |
Total current liabilities | 2,256,000 | 2,549,000 |
Other long-term liabilities | 63,000 | 27,000 |
Deferred service revenue, long term | 105,000 | 104,000 |
Total long term liabilities | 168,000 | 131,000 |
Total liabilities | 2,424,000 | 2,680,000 |
Commitments and contingencies (Note 10) | ||
Shareholders’ equity: | ||
Preferred stock, no par value; 5,000 shares authorized; no shares issued | ||
Common stock, no par value; 50,000 shares authorized; 2,042 shares issued and outstanding as of December 31, 2016 and 2015, respectively | 19,063,000 | 19,061,000 |
Accumulated deficit | (14,224,000) | (13,014,000) |
Total shareholders’ equity | 4,839,000 | 6,047,000 |
Total liabilities and shareholders’ equity | $ 7,263,000 | $ 8,727,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares $ / shares in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Preferred stock, par value (in dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized (in shares) | 5,000,000 | 5,000,000 |
Preferred stock, shares issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized (in shares) | 50,000,000 | 50,000,000 |
Common stock, shares issued (in shares) | 2,042,000 | 2,042,000 |
Common stock, shares outstanding (in shares) | 2,042,000 | 2,042,000 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Loss - USD ($) shares in Thousands, $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Net revenues | $ 4,924 | $ 9,417 | $ 10,978 | $ 12,902 |
Cost of goods sold | 3,881 | 6,824 | 7,889 | 8,530 |
Gross profit | 1,043 | 2,593 | 3,089 | 4,372 |
Operating expenses: | ||||
Engineering | 694 | 990 | 1,360 | 1,351 |
Sales and marketing | 957 | 1,229 | 1,938 | 2,077 |
General and administrative | 1,259 | 1,587 | 2,399 | 2,478 |
Restructuring recovery | (245) | |||
Total operating expenses | 2,910 | 3,806 | 5,697 | 5,661 |
Loss from operations | (1,867) | (1,213) | (2,608) | (1,289) |
Other expenses (income) | 2 | 3 | 2 | (19) |
Loss before income taxes | (1,865) | (1,210) | (2,606) | (1,308) |
Provision for income taxes | 20 | 20 | ||
Net loss | (1,885) | (1,210) | (2,626) | (1,308) |
Change in unrealized loss on investments | (1) | |||
Comprehensive loss | $ (1,885) | $ (1,210) | $ (2,626) | $ (1,309) |
Net loss per share: | ||||
Basic and Diluted (in dollars per share) | $ (0.92) | $ (0.59) | $ (1.29) | $ (0.64) |
Shares used to compute net loss per share: | ||||
Basic and Diluted (in shares) | 2,042 | 2,042 | 2,042 | 2,042 |
Consolidated Statements of Shar
Consolidated Statements of Shareholders' Equity - USD ($) shares in Thousands, $ in Thousands | Common Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balances (in shares) at Jun. 30, 2014 | 2,042 | |||
Balances at Jun. 30, 2014 | $ 18,943 | $ 1 | $ (9,821) | $ 9,123 |
Share-based compensation | 96 | 96 | ||
Net loss | (1,308) | (1,308) | ||
Change in unrealized loss on investments | (1) | (1) | ||
Balances (in shares) at Jun. 30, 2015 | 2,042 | |||
Balances at Jun. 30, 2015 | $ 19,039 | (11,129) | 7,910 | |
Share-based compensation | 22 | 22 | ||
Net loss | (1,885) | (1,885) | ||
Change in unrealized loss on investments | ||||
Balances (in shares) at Dec. 31, 2015 | 2,042 | |||
Balances at Dec. 31, 2015 | $ 19,061 | (13,014) | 6,047 | |
Share-based compensation | 2 | 2 | ||
Net loss | (1,210) | (1,210) | ||
Change in unrealized loss on investments | ||||
Balances (in shares) at Dec. 31, 2016 | 2,042 | |||
Balances at Dec. 31, 2016 | $ 19,063 | $ (14,224) | $ 4,839 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
CASH FLOW FROM OPERATING ACTIVITIES: | ||||
Net loss | $ (1,885) | $ (1,210) | $ (2,626) | $ (1,308) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||||
Depreciation and amortization | 101 | 182 | 217 | 220 |
Loss on disposal of assets | 23 | 52 | 57 | |
(Recovery) provision for doubtful accounts, net | 84 | (38) | 26 | (77) |
Provision (recovery) for inventory reserve | 627 | 972 | 356 | (343) |
Share-based compensation | 22 | 2 | 62 | 96 |
Loss on sale of securities | 3 | 11 | ||
Changes in operating assets and liabilities: | ||||
Accounts receivable | 607 | 85 | 969 | (831) |
Inventories | (123) | 112 | 269 | 572 |
Prepaid expenses and other assets | (63) | 1 | 150 | 127 |
Accounts payable | (157) | 132 | (506) | (39) |
Accrued payroll and related liabilities | (64) | (110) | (16) | 74 |
Deferred service revenue | 43 | (206) | (113) | (142) |
Other accrued liabilities | 83 | (72) | (33) | (781) |
Net cash used in operating activities | (725) | (127) | (1,190) | (2,364) |
CASH FLOW FROM INVESTING ACTIVITIES: | ||||
Purchases of equipment | (8) | (45) | (151) | (217) |
Proceeds from the sale of equipment | 62 | 62 | ||
Proceeds from the sale of marketable securities | 1,753 | |||
Net cash (used in) provided by investing activities | (8) | (45) | (89) | 1,598 |
NET DECREASE IN CASH, RESTRICTED CASH AND CASH EQUIVALENTS | (733) | (172) | (1,279) | (766) |
CASH, RESTRICTED CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | 4,696 | 3,963 | 5,242 | 5,462 |
CASH, RESTRICTED CASH AND CASH EQUIVALENTS, END OF PERIOD | 3,963 | 3,791 | 3,963 | 4,696 |
SUPPLEMENTAL CASH FLOW DISCLOSURES: | ||||
Income taxes paid | $ 9 | $ 3 |
Note 1 - Significant Accounting
Note 1 - Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 1 Business Qualstar Corporation and Subsidiary (collectively, “Qualstar”, the “Company”, “we”, “us” or “our”), was incorporated in California in 1984. N2Power 1995, July 2002, N2Power, N2Power We design our products at our location in California, and we sell our products globally through authorized resellers and directly to original equipment manufacturers (“OEMs”). N2Power June 30, 2014, The consolidated financial statements include our accounts and the accounts of our wholly-owned subsidiary in Singapore. All significant intercompany accounts and transactions have been eliminated in consolidation. On January 4, 2016, June 30 December 31. twelve December 31, 2015. July 1, 2015 December 31, 2015, twelve December 31, 2016, twelve December 31, 2015, Accounting Principles The consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Estimates and Assumptions Preparing financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Examples include estimates of loss contingencies, product life cycles and inventory obsolescence, bad debts, sales returns, warranty costs, share-based compensation forfeiture rates, the potential outcome of future tax consequences of events that have been recognized in our consolidated financial statements or tax returns, and determining when investment impairments are other-than-temporary. Actual results and outcomes may Revenue Recognition We recognize revenue when there is persuasive evidence that an arrangement exists, title and risk of loss have passed, delivery has occurred or the services have been rendered, the sales price is fixed or determinable and collection of the related receivable is reasonably assured. Title and risk of loss generally pass to our customers upon shipment. In limited circumstances where either title or risk of loss pass upon destination or acceptance or when collection is not reasonably assured, we defer revenue recognition until such events occur. In general, customers are allowed to return the product, free of penalty, within thirty We record an allowance for estimated sales returns based on past experience and current knowledge of our customer base. Our experience has been such that only a very small percentage of products are returned. Should our experience change, however, we may Revenue for established products that have previously satisfied a customer’s acceptance requirements and provide for full payment tied to shipment is generally recognized upon shipment and passage of title. In limited cases where a prior history of customer acceptance cannot be demonstrated or sales where customer payment dates are not determinable or when collection is not reasonably assured, revenue is deferred until customer acceptance occurs or payment has been received. On the limited shipments where sales are not recognized, gross profit is generally recorded as deferred profit in our balance sheet representing the difference between the receivable recorded and the inventory shipped. At December 31, 2016, $892 ,000 no December 31, 2015, $1,098,000 no Cash and Cash Equivalents Qualstar classifies as cash equivalents only cash and those investments that are highly liquid, interest-earning investments with original maturities of three Restricted Cash At December 31, 2016 2015, $100,000 Concentration of Credit Risk, Other Concentration Risks and Significant Customers Qualstar sells its products primarily through value added resellers located worldwide. Ongoing credit evaluations of customers’ financial condition are performed by Qualstar, and generally, collateral is not required. Potential uncollectible accounts have been provided for in the financial statements. We are exposed to foreign currency and interest rate risks. Our interest income is sensitive to changes in the general level of U.S. interest rates, particularly since all of our investments are in US fixed income securities. We have no outstanding debt nor do we utilize auction rate securities or derivative financial instruments in our investment portfolio. Cash and other investments may Our financial results could be affected by changes in foreign currency exchange rates or weak economic conditions in foreign markets. As all sales are currently made in U.S. dollars, a strengthening of the dollar could make our products less competitive in foreign markets. Sales outside North America represented approximately 46.1% twelve December 31, 2016, 50.3% twelve December 31, 2015, 41.9% six December 31, 2015, 54.0% twelve June 30, 2015. Revenues from Qualstar’s largest customer totaled approximately 10.6% 14.8% twelve December 31, 2016 2015, 10.7% 11.1% six December 31, 2015 June 30, 2015 , respectively. At December 31, 2016, 22.3% December 31, 2015, 8.2% Suppliers The primary suppliers of our power supplies segment, N2Power, Allowance for Doubtful Accounts The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine the allowance based on known troubled accounts, historical experience, and other currently available evidence. Activity in the allowance for doubtful accounts was as follows (in thousands): Description Balance at Beginning of Period Charged to Costs and Expenses Charged to Other Accounts Deductions (1) Balance at End of Period Twelve months ended December 31, 2016 $ 99 (38 ) — — $ 61 Twelve months ended December 31, 2015 (unaudited) $ 73 71 — (45 ) $ 99 Six months ended December 31, 2015 $ 15 84 — — $ 99 Twelve months ended June 30, 2015 $ 92 — — (77 ) $ 15 (1) Uncollectible accounts written off, net of recoveries. Inventories, net Inventories are stated at the lower of cost (first first Property and Equipment, net Property and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation expense is computed using the straight-line method. Leasehold improvements are amortized over the shorter of the estimated useful life of the asset or the term of the lease. Estimated useful lives are as follows: Machinery and equipment (in years) 5 - 7 Furniture and fixtures (in years) 5 - 7 Leasehold Improvements (in years) 3 - 5 Computer equipment (in years) 3 - 5 Expenditures for normal maintenance and repairs are charged to expense as incurred, and improvements are capitalized. Upon the sale or retirement of property or equipment, the asset cost and related accumulated depreciation are removed from the respective accounts and any gain or loss is included in the results of operations. Long-Lived Assets Qualstar reviews the impairment of long-lived assets whenever events or changes in circumstances indicate the carrying amount of any asset may No Shipping and Handling Costs Qualstar records all customer charges for outbound shipping and handling to freight revenue. All inbound and outbound shipping and fulfillment costs are classified as costs of goods sold. Warranty Obligations We provide a three one may may three We provide a three A provision for costs related to warranty expense is recorded when revenue is recognized, which is estimated based on historical warranty costs incurred. Customers may Activity in the liability for product warranty (included in other accrued liabilities) for the periods presented is as follows (in thousands): December 31, 2016 2015 Audited Unaudited Beginning balance $ 187 $ 168 Cost of warranty claims (157 ) (141 ) Accruals for product warranties 206 160 Ending balance $ 236 $ 187 Engineering All engineering costs are charged to expense as incurred. These costs consist primarily of engineering salaries, benefits, outside consultant fees, purchased parts and supplies directly involved in the design and development of new products, and facilities and other internal costs. Advertising Advertising and promotion expenses include costs associated with direct and indirect marketing, trade shows and public relations. Qualstar expenses all costs of advertising and promotion as incurred. Advertising and promotion expenses for the years ended December 31, 2016 2015 $73,000 $69,000, six December 31, 2015 $58,000 June 30, 2015 $150 ,000. Fair Value of Financial Instruments All financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis (at least annually). ASC 820 ASC 820 In addition to defining fair value, ASC 820 three one three • Level 1 • Level 2 • Level 3 In general, and where applicable, we use quoted prices in active markets for identical assets to determine fair value. This pricing methodology applies to our Level 1 2 Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents our assets and liabilities measured at fair value on a recurring basis at December 31, 2016 2015 December 31, 2016 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash & Cash Equivalents Level 1: Cash $ 3,691 $ - $ - $ 3,691 $ 3,691 Restricted Cash 100 - - 100 100 Money Market Funds - - - - - Total $ 3,791 $ - $ - $ 3,791 $ 3,791 December 31, 2015 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash & Cash Equivalents Level 1: Cash $ 828 $ - $ - $ 828 $ 828 Restricted Cash 100 - - 100 100 Money Market Funds 3,035 - - 3,035 3,035 Total $ 3,963 $ - $ - $ 3,963 $ 3,963 The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, restricted cash and short-term marketable securities approximate their fair values due to the short term nature of these financial instruments. Share-Based Compensation Share-based compensation cost is measured at the grant date based on fair value of the award and is recognized as expense over the applicable vesting period of the stock award (generally four Income Taxes Income taxes are accounted for using the liability method. Under this method, deferred tax liabilities and assets are recognized for the expected future tax consequences of temporary differences between the financial statement and tax bases of assets and liabilities, and for the expected future tax benefit to be derived from tax credits and loss carry forwards. Current income tax expense or benefit represents the amount of income taxes expected to be payable or refundable for the current year. A valuation allowance is established when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Comprehensive Loss Comprehensive loss includes unrealized gains and losses on debt and equity securities classified as available-for-sale and included as a component of shareholders’ equity. Net Loss per Share Basic net loss per share has been computed by dividing net loss by the weighted average number of common shares outstanding. Diluted net loss per share has been computed by dividing net loss by the weighted average common shares outstanding plus dilutive securities or other contracts to issue common stock as if these securities were exercised or converted to common stock. Shares issuable under stock options of 23,333, 40,000 43,000 December 31, 2016, 2015 June 30, 2015, Reclassifications Certain prior year amounts have been reclassified to conform to the current period presentation, with no changes to previously reported stockholders equity or comprehensive loss. Recent Accounting Guidance Recent accounting guidance not yet adopted In May 2014, 2014 09 August 2015, 2015 14 2014 09. 2014 09. 2014 09 December 15, 2017. In July 2015, 2015 11 December 15, 2016 , and is not expected to impact our consolidated financial statements . In February 2016, 2016 02 December 15, 2018. may In August 2016, 2016 15 December 15, 2017, In October 2016, 2016 16 December 15, 2017, In January 2017, 2017 01 December 15, 2017, Recent accounting guidance adopted In November 2016, 2016 18 |
Note 2 - Inventories, Net
Note 2 - Inventories, Net | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 2 Inventories consist of the following, in thousands: December 31 , 2016 December 31, 2015 Raw materials $ 45 $ 263 Finished goods 1,315 2,181 Inventories, net $ 1,360 $ 2,444 |
Note 3 - Property and Equipment
Note 3 - Property and Equipment, Net | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | Note 3 The components of property and equipment are as follows, in thousands: December 31 , 2016 December 31, 2015 Leasehold improvements $ 114 $ 114 Furniture and fixtures 314 373 Machinery and equipment 1,039 1,329 1,467 1,816 Less accumulated depreciation and amortization (1,181 ) (1,370 ) Property and equipment, net $ 286 $ 446 Depreciation and amortization expense for the year ended December 31, 2016 2015, six December 31, 2015 June 30, 2015, $182,000, $217,000 $101,000, $220,000 |
Note 4 - Accrued Payroll and Re
Note 4 - Accrued Payroll and Related Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Accounts Payable and Accrued Liabilities Disclosure [Text Block] | Note 4 The components of accrued payroll and related liabilities are as follows, in thousands: December 31 , 2016 December 31, 2015 Accrued salaries and payroll taxes $ 62 $ 179 Accrued vacation 120 153 Accrued bonuses 40 — Total accrued payroll and related liabilities $ 222 $ 332 |
Note 5 - Other Accrued Liabilit
Note 5 - Other Accrued Liabilities | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block] | Note 5 The components of other accrued liabilities are as follows, in thousands: December 31 , 2016 December 31, 2015 Accrued warranty $ 236 $ 187 Accrued outside commissions 28 37 Accrued contingent legal fees 25 — Accrued deferred rent 37 42 Accrued audit — 149 Other accrued liabilities 33 52 Total other accrued liabilities $ 359 $ 467 |
Note 6 - Income Taxes
Note 6 - Income Taxes | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | Note 6 The provision for (benefit from) income taxes is comprised of the following, in thousands: December 31 , 2016 December 31, 2015 Current: Federal $ — $ — State — 20 — 20 Deferred: Federal — — State — — $ — $ — $ 20 The following is a reconciliation of the statutory federal income tax rate to Qualstar’s effective income tax rate: Twelve Months Ended December 31, Six Months Ended December 31, Twelve Months Ended June 30, 201 6 201 5 2015 2015 Audited (Unaudited) Audited Audited Statutory federal income tax benefit (34.0 )% (34.0 )% (34.0 )% (34.0 )% State income taxes, net of federal income tax benefit 8.7 (10.9 ) (10.9 ) (4.3 ) Foreign income taxes, net of federal income tax benefit (1.3 ) 0.7 0.7 1.8 Engineering credits (5.2 ) (2.5 ) (2.5 ) (8.2 ) Valuation allowance 26.2 48.3 48.3 43.3 Other 5.6 (0.5 ) (0.5 ) 1.4 Effective federal income tax rate 0.0 % 1.1 % 1.1 % 0.0 % The tax effect of temporary differences resulted in deferred income tax assets (liabilities) as follows: December 31 , 2016 December 31, 2015 Deferred tax assets: Net operating loss carry forwards $ 12,295 $ 11,461 Engineering credit carry forwards 1,830 1,771 Inventory reserves 1,015 1,412 Capital loss and other credit carry forwards 21 67 Allowance for bad debts and returns 45 44 Capitalized inventory costs, stock compensation and other accruals 596 784 Total gross deferred tax assets 15,802 15,539 Less valuation allowance on deferred tax assets (15,765 ) (15,448 ) Net deferred tax assets 37 91 Deferred tax liabilities: Depreciation and other (37 ) (91 ) Total deferred tax liabilities (37 ) (91 ) Net deferred taxes $ — $ — The Company records a valuation allowance against its net deferred income tax assets when in management’s judgment, it is more likely than not that the deferred income tax assets will not be realized in the foreseeable future. For the year ended December 31, 2016, December 31, 2015, June 30, 2015, $32.6 December 31, 2016, $30.1 December 31, 2015, $29.4 June 30, 2015. $21.9 December 31, 2016, $20 .3 December 31, 2015, $20.4 June 30, 2015. $0.2 December 31, 2016 December 31, 2015. $2.7 December 31, 2016, $2.6 December 31, 2015, $2.6 June 30, 2015. 2025 , and other tax credit carry-forwards will expire beginning in 2024. December 31, 2016 , will expire beginning in 2017. The following table summarizes the activity related to the Company’s uncertain tax positions (in thousands): December 31 , 2016 December 31, 2015 Beginning Balance $ 27 $ 17 Increases related to tax positions taken in prior year 2 10 Decreases due to lapse of statute of limitations — — Related interest and penalties, net of federal tax benefit — — Balance at December 31 $ 29 $ 27 The deferred tax asset amounts related to NOL and credit carryforwards have been reduced by approximately $540,000 twelve The Company’s policy is to include interest and penalties on uncertain tax positions in income tax expense, but they are not significant at December 31, 2016. June 30, 2013 June 30, 2012 December 31, 2016. |
Note 7 - Preferred Stock
Note 7 - Preferred Stock | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Preferred Stock [Text Block] | Note 7 Qualstar’s capital structure allows for the Board of Directors to authorize up to 5,000,000 December 31, 2016 2015, |
Note 8 - Stock-based Compensati
Note 8 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | Note 8 The Company recorded share-based compensation associated with outstanding stock options and restricted stock grants during the twelve December 31, 2016 2015(unaudited); six December 31, 2015 June 30, 2015 $2 ,000, $62 ,000 $22,000 $96,000 No Stock Option Plan The Company has two Qualstar adopted the 1998 “1998 1998 100% four 25% ten 1998 2008 may 1998 Qualstar adopted the 2008 “2008 may 83,333 2008 may 100% 10% 110% 4 25% ten 2008 no December 31, 2016 2015; six December 31, 2015, 33,333 June 30, 2015. The fair value of each option award is estimated on the date of grant using the Black-Scholes option valuation model that uses the assumptions, such as volatility, expected term and risk-free interest rate. Expected volatilities are based on the historical volatility of the Company’s stock. The Company uses historical data to estimate option exercise and employee termination in determining forfeiture rates and evaluates separate groups of employees by functional area that have similar historical exercise behavior. The expected term of options granted is estimated based on the vesting term of the award, historical employee exercise behavior, expected volatility of the Company’s stock and an employee’s average length of service. The risk-free interest rate used in this model correlates to a U.S. constant rate Treasury security with a contractual life that approximates the expected term of the option award. The following table summarizes all stock option activity; the amounts shown have been retrospectively restated for the one six June 14, 2016: Options Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at July 1, 2014 12,333 $ 17.34 25.86 $ — Granted 33,333 7.50 — — Exercised — — — — Forfeited or expired (2,666 ) 22.26 — — Outstanding at June 30, 2015 43,000 9.42 48.54 — Granted — — — — Exercised — — — — Forfeited or expired (3,000 ) 18.60 — — Outstanding at December 31, 2015 40,000 8.70 47.94 — Granted — — — — Exercised — — — — Forfeited, canceled or expired (16,667 ) 7.62 — — Outstanding at December 31, 2016 23,333 9.49 6.43 — Exercisable at December 31, 2016 23,333 $ 9.49 6.43 $ — At December 31, 2016, no December 31, 2016 2015 $12 ,000 $29,000 six December 31, 2015 June 30, 2015, $0 $29,000, . Restricted Stock Awards The following table summarizes all restricted stock awards activity: Restricted Stock Awards Shares Weighted Average Fair Value Price per Share Nonvested at July 1, 2015 16,667 $ 9.66 Granted (1) — Vested — Forfeited or expired (2) (16,667 ) (9.66 ) Nonvested at December 31, 2015 — $ — Granted (1) — — Vested — — Forfeited or expired (2) — — Nonvested at December 31, 2016 — $ — (1) Restricted stock was granted on April 1, 2014 Jan 16,667 April 1, 2017. April 1, 2014 $9.66. (2) Daniel K. Jan December 31, 2015, |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 9 On June 14, 2016, 2016 one six June 14, 2016. six one . Shareholders who otherwise would have been entitled to receive fractional shares as a result of the reverse split instead received a cash payment in lieu thereof equal to the fraction to which such shareholder otherwise would have been entitled multiplied by $2.52, June 13, 2016, The reverse split decreased the number of outstanding shares of common stock from 12,253,117 2,042,020 June 14, 2016. 50,000,000 5,000,000. On November 11, 2016, $750,000, |
Note 10 - Commitments
Note 10 - Commitments | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | Note 10 Qualstar’s lease agreement for its 15,160 February 28, 2018. $10,000 3% Qualstar subleases a portion of the warehouse space to Interlink Electronics, Inc. (Interlink) and is reimbursed for the space and other related expenses on a monthly basis. As described in Note 14, Qualstar also leases approximately 5,400 January 31, 2020. $10,000 3% March 21, 2016, tenant $11,000 3% Effective April 1, 2016, two 1,359 $2,200 September 30, 2018. The Company provides for rent expense on a straight-line basis over the lease terms. Future minimum lease payments under these leases are as follows: Years Ending December 31, Minimum Lease Payment Sublease Revenue Net Minimum Lease Payment 2017 $ 288 $ (139 ) $ 149 2018 160 (143 ) 17 2019 135 (147 ) (12 ) 2020 11 (12 ) (1 ) Total Commitment $ 594 $ (441 ) $ 153 Rent expense for the twelve December 31, 2016 2015 $184,000 $314,000 six December 31, 2015 June 30, 2015 $132,000, $402,000, |
Note 11 - Segment Information
Note 11 - Segment Information | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | Note 11 Based on the provisions of ASC 280, two Twelve Months Ended December 31, Six Months Ended December 31, Twelve Months Ended June 30, 201 6 201 5 2015 2015 Audited Unaudited Audited Audited Revenue Power Supplies $ 5,601 $ 5,842 $ 2,463 $ 6,330 Data Storage: Product 1,949 3,063 1,410 4,478 Service 1,867 2,073 1,051 2,094 Total Data Storage 3,816 5,136 2,461 6,572 Total Revenue $ 9,417 $ 10,978 $ 4,924 $ 12,902 Twelve Months Ended December 31, Six Months Ended December 31, Twelve Months Ended June 30, 201 6 201 5 2015 2015 Audited Unaudited Audited Audited (Loss) before Taxes Power Supplies $ (545 ) $ (833 ) $ (524 ) $ (714 ) Data Storage (665 ) (1,773 ) (1,341 ) (594 ) Total Loss before Income Taxes $ (1,210 ) $ (2,606 ) $ (1,865 ) $ (1,308 ) December 31 , 2016 December 31, 2015 Total Assets Cash and Cash Equivalents $ 3,691 $ 3,863 Restricted cash 100 100 Other Assets : Power Supplies Accounts receivable, net 1,158 1,009 Inventories, net 444 1,008 Other assets 74 75 1,676 2,092 Data Storage Accounts receivable, net 425 621 Inventories, net 916 1,436 Other assets 455 615 1,796 2,672 Total Assets $ 7,263 $ 8,727 December 31 , 2016 December 31, 2015 Property and Equipment Power Supplies: Gross fixed assets $ 534 $ 568 Less: accumulated depreciation and amortization (500 ) (522 ) Net power supply fixed assets $ 34 $ 46 Data Storage: Gross fixed assets $ 933 $ 1,248 Less: accumulated depreciation and amortization (681 ) (848 ) Net data storage fixed assets $ 252 $ 400 In its operation of the business, management reviews certain financial information, including segmented internal profit and loss statements prepared on a basis consistent with GAAP. Our two two twelve December 31, 2016 2015, six December 31, 2015 June 30, 2015 . Allocations for internal resources were made for the twelve December 31, 2016 2015, six December 31, 2015 June 30, 2015 . The power supplies segment tracks certain assets separately, and all others are recorded in the data storage segment for internal reporting presentations. The types of products and services provided by each segment are summarized below Power Supplies — The Company designs, manufactures, and sells small, open frame, high efficiency switching power supplies. These power supplies are used to convert AC line voltage to DC voltages, or DC voltages to other DC voltages for use in a wide variety of electronic equipment such as telecommunications equipment, machine tools, routers, switches, wireless systems and gaming devices. Data Storage — The Company designs, manufactures, and sells automated magnetic tape libraries used to store, retrieve and manage electronic data primarily in network computing environments. Tape libraries consist of cartridge tape drives, tape cartridges and robotics to move the cartridges from their storage locations to the tape drives under software control. Our tape libraries provide data storage solutions for organizations requiring backup, recovery and archival storage of critical data. Geographic Information Information regarding revenues attributable to the Qualstar’s primary geographic operating regions is as follows, in thousands: Twelve Months Ended December 31, Six Months Ended December 31, Twelve Months Ended June 30, 201 6 201 5 2015 2015 Audited (Unaudited) Audited Audited Total Revenue: North America $ 5,077 $ 5,454 $ 2,860 $ 5,929 Europe 1,955 1,820 713 2,195 Asia Pacific 2,293 3,228 1,211 4,169 Other 92 476 140 609 $ 9,417 $ 10,978 $ 4,924 $ 12,902 Power Supply Revenue: North America 2,157 2,042 1,001 2,185 Europe 1,474 1,149 487 1,333 Asia Pacific 1,970 2,651 975 2,812 Other — — — — $ 5,601 $ 5,842 $ 2,463 $ 6,330 Data Storage Revenue: North America 2,920 3,412 1,859 3,744 Europe 481 671 226 862 Asia Pacific 323 578 236 1,357 Other 92 476 140 609 $ 3,816 $ 5,136 $ 2,461 $ 6,572 The geographic classification of revenues is based upon the location to which the product is shipped. Qualstar does not have any significant long-lived assets outside of the United States. |
Note 12 - Legal Proceedings
Note 12 - Legal Proceedings | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Legal Matters and Contingencies [Text Block] | Note 12 Qualstar is subject to a variety of other claims and legal proceedings that arise from time to time in the ordinary course of our business. Although management currently believes that resolving claims against us, individually or in the aggregate, will not have a material adverse impact on our financial statements, these matters are subject to inherent uncertainties and management’s view of these matters may December 31, 2016, $25,000 |
Note 13 - Benefit Plans
Note 13 - Benefit Plans | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Compensation and Employee Benefit Plans [Text Block] | Note 13 Qualstar has a voluntary deferred compensation plan (the “Plan”) qualifying for treatment under Internal Revenue Code Section 401(k). three may 100% may 25% first 6% August 2009. |
Note 14 - Related Party Transac
Note 14 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 14 Steven N. Bronson is the Company’s CEO and is also the President and CEO and a majority shareholder of Interlink Electronics, Inc. (“Interlink”). Interlink reimburses Qualstar for leased space at the Simi Valley facility and for other administrative expenses paid by or on behalf of the Company. The total amount charged to Interlink for the twelve December 31, 2016 2015, six December 31, 2015 June 30, 2015 $33 ,000, $61,000, $31 ,000 $43,000, $1,000 $6,000 December 31, 2016 December 31, 2015, The Company reimburses Interlink for expenses paid on the Company’s behalf. Interlink occasionally pays travel and other expenses incurred by Qualstar. The Company reimbursed Interlink $13 ,000, $14,000 $4,000 $56,000 twelve December 31, 2016 2015, six December 31, 2015 June 30, 2015, December 31, 2016 $2,000, December 31, 2015 no . The Company entered into a license agreement, dated May 1, 2014 May 1, 2014, one $1,200 twelve December 31, 2015 June 30, 2015, $2,400 $9,600 . The License Agreement was no longer effective after the Company’s move to the new facilities in February 2015. |
Note 15 - Restructuring Charges
Note 15 - Restructuring Charges | 12 Months Ended |
Dec. 31, 2016 | |
Notes to Financial Statements | |
Restructuring and Related Activities Disclosure [Text Block] | Note 15 For the year ended June 30, 2013, 2014, 2015, $245,000 |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2016 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Accounting Principles The consolidated financial statements and accompanying notes are prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). |
Use of Estimates, Policy [Policy Text Block] | Estimates and Assumptions Preparing financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, and expenses. Examples include estimates of loss contingencies, product life cycles and inventory obsolescence, bad debts, sales returns, warranty costs, share-based compensation forfeiture rates, the potential outcome of future tax consequences of events that have been recognized in our consolidated financial statements or tax returns, and determining when investment impairments are other-than-temporary. Actual results and outcomes may |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition We recognize revenue when there is persuasive evidence that an arrangement exists, title and risk of loss have passed, delivery has occurred or the services have been rendered, the sales price is fixed or determinable and collection of the related receivable is reasonably assured. Title and risk of loss generally pass to our customers upon shipment. In limited circumstances where either title or risk of loss pass upon destination or acceptance or when collection is not reasonably assured, we defer revenue recognition until such events occur. In general, customers are allowed to return the product, free of penalty, within thirty We record an allowance for estimated sales returns based on past experience and current knowledge of our customer base. Our experience has been such that only a very small percentage of products are returned. Should our experience change, however, we may Revenue for established products that have previously satisfied a customer’s acceptance requirements and provide for full payment tied to shipment is generally recognized upon shipment and passage of title. In limited cases where a prior history of customer acceptance cannot be demonstrated or sales where customer payment dates are not determinable or when collection is not reasonably assured, revenue is deferred until customer acceptance occurs or payment has been received. On the limited shipments where sales are not recognized, gross profit is generally recorded as deferred profit in our balance sheet representing the difference between the receivable recorded and the inventory shipped. At December 31, 2016, $892 ,000 December 31, 2015, $1,098,000 |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents Qualstar classifies as cash equivalents only cash and those investments that are highly liquid, interest-earning investments with original maturities of three Restricted Cash At December 31, 2016 2015, $100,000 |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk, Other Concentration Risks and Significant Customers Qualstar sells its products primarily through value added resellers located worldwide. Ongoing credit evaluations of customers’ financial condition are performed by Qualstar, and generally, collateral is not required. Potential uncollectible accounts have been provided for in the financial statements. We are exposed to foreign currency and interest rate risks. Our interest income is sensitive to changes in the general level of U.S. interest rates, particularly since all of our investments are in US fixed income securities. We have no outstanding debt nor do we utilize auction rate securities or derivative financial instruments in our investment portfolio. Cash and other investments may Our financial results could be affected by changes in foreign currency exchange rates or weak economic conditions in foreign markets. As all sales are currently made in U.S. dollars, a strengthening of the dollar could make our products less competitive in foreign markets. Sales outside North America represented approximately 46.1% twelve December 31, 2016, 50.3% twelve December 31, 2015, 41.9% six December 31, 2015, 54.0% twelve June 30, 2015. Revenues from Qualstar’s largest customer totaled approximately 10.6% 14.8% twelve December 31, 2016 2015, 10.7% 11.1% six December 31, 2015 June 30, 2015 , respectively. At December 31, 2016, 22.3% December 31, 2015, 8.2% |
Suppliers, Policy [Policy Text Block] | Suppliers The primary suppliers of our power supplies segment, N2Power, |
Receivables, Policy [Policy Text Block] | Allowance for Doubtful Accounts The allowance for doubtful accounts reflects our best estimate of probable losses inherent in the accounts receivable balance. We determine the allowance based on known troubled accounts, historical experience, and other currently available evidence. Activity in the allowance for doubtful accounts was as follows (in thousands): Description Balance at Beginning of Period Charged to Costs and Expenses Charged to Other Accounts Deductions (1) Balance at End of Period Twelve months ended December 31, 2016 $ 99 (38 ) — — $ 61 Twelve months ended December 31, 2015 (unaudited) $ 73 71 — (45 ) $ 99 Six months ended December 31, 2015 $ 15 84 — — $ 99 Twelve months ended June 30, 2015 $ 92 — — (77 ) $ 15 (1) Uncollectible accounts written off, net of recoveries. |
Inventory, Policy [Policy Text Block] | Inventories, net Inventories are stated at the lower of cost (first first |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment, net Property and equipment are recorded at cost less accumulated depreciation and amortization. Depreciation expense is computed using the straight-line method. Leasehold improvements are amortized over the shorter of the estimated useful life of the asset or the term of the lease. Estimated useful lives are as follows: Machinery and equipment (in years) 5 - 7 Furniture and fixtures (in years) 5 - 7 Leasehold Improvements (in years) 3 - 5 Computer equipment (in years) 3 - 5 Expenditures for normal maintenance and repairs are charged to expense as incurred, and improvements are capitalized. Upon the sale or retirement of property or equipment, the asset cost and related accumulated depreciation are removed from the respective accounts and any gain or loss is included in the results of operations. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets Qualstar reviews the impairment of long-lived assets whenever events or changes in circumstances indicate the carrying amount of any asset may |
Shipping and Handling Cost, Policy [Policy Text Block] | Shipping and Handling Costs Qualstar records all customer charges for outbound shipping and handling to freight revenue. All inbound and outbound shipping and fulfillment costs are classified as costs of goods sold. |
Standard Product Warranty, Policy [Policy Text Block] | Warranty Obligations We provide a three one may may three We provide a three A provision for costs related to warranty expense is recorded when revenue is recognized, which is estimated based on historical warranty costs incurred. Customers may Activity in the liability for product warranty (included in other accrued liabilities) for the periods presented is as follows (in thousands): December 31, 2016 2015 Audited Unaudited Beginning balance $ 187 $ 168 Cost of warranty claims (157 ) (141 ) Accruals for product warranties 206 160 Ending balance $ 236 $ 187 |
Research, Development, and Computer Software, Policy [Policy Text Block] | Engineering All engineering costs are charged to expense as incurred. These costs consist primarily of engineering salaries, benefits, outside consultant fees, purchased parts and supplies directly involved in the design and development of new products, and facilities and other internal costs. |
Advertising Costs, Policy [Policy Text Block] | Advertising Advertising and promotion expenses include costs associated with direct and indirect marketing, trade shows and public relations. Qualstar expenses all costs of advertising and promotion as incurred. Advertising and promotion expenses for the years ended December 31, 2016 2015 $73,000 $69,000, six December 31, 2015 $58,000 June 30, 2015 $150 ,000. |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Share-Based Compensation Share-based compensation cost is measured at the grant date based on fair value of the award and is recognized as expense over the applicable vesting period of the stock award (generally four |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for using the liability method. Under this method, deferred tax liabilities and assets are recognized for the expected future tax consequences of temporary differences between the financial statement and tax bases of assets and liabilities, and for the expected future tax benefit to be derived from tax credits and loss carry forwards. Current income tax expense or benefit represents the amount of income taxes expected to be payable or refundable for the current year. A valuation allowance is established when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Loss Comprehensive loss includes unrealized gains and losses on debt and equity securities classified as available-for-sale and included as a component of shareholders’ equity. |
Earnings Per Share, Policy [Policy Text Block] | Net Loss per Share Basic net loss per share has been computed by dividing net loss by the weighted average number of common shares outstanding. Diluted net loss per share has been computed by dividing net loss by the weighted average common shares outstanding plus dilutive securities or other contracts to issue common stock as if these securities were exercised or converted to common stock. Shares issuable under stock options of 23,333, 40,000 43,000 December 31, 2016, 2015 June 30, 2015, |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain prior year amounts have been reclassified to conform to the current period presentation, with no changes to previously reported stockholders equity or comprehensive loss. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Guidance Recent accounting guidance not yet adopted In May 2014, 2014 09 August 2015, 2015 14 2014 09. 2014 09. 2014 09 December 15, 2017. In July 2015, 2015 11 December 15, 2016 , and is not expected to impact our consolidated financial statements . In February 2016, 2016 02 December 15, 2018. may In August 2016, 2016 15 December 15, 2017, In October 2016, 2016 16 December 15, 2017, In January 2017, 2017 01 December 15, 2017, Recent accounting guidance adopted In November 2016, 2016 18 |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments All financial assets and liabilities and nonfinancial assets and liabilities that are recognized or disclosed at fair value in the consolidated financial statements on a recurring basis (at least annually). ASC 820 ASC 820 In addition to defining fair value, ASC 820 three one three • Level 1 • Level 2 • Level 3 In general, and where applicable, we use quoted prices in active markets for identical assets to determine fair value. This pricing methodology applies to our Level 1 2 Assets and Liabilities Measured at Fair Value on a Recurring Basis The following table presents our assets and liabilities measured at fair value on a recurring basis at December 31, 2016 2015 December 31, 2016 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash & Cash Equivalents Level 1: Cash $ 3,691 $ - $ - $ 3,691 $ 3,691 Restricted Cash 100 - - 100 100 Money Market Funds - - - - - Total $ 3,791 $ - $ - $ 3,791 $ 3,791 December 31, 2015 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash & Cash Equivalents Level 1: Cash $ 828 $ - $ - $ 828 $ 828 Restricted Cash 100 - - 100 100 Money Market Funds 3,035 - - 3,035 3,035 Total $ 3,963 $ - $ - $ 3,963 $ 3,963 The carrying amounts reported in the consolidated balance sheets for cash and cash equivalents, restricted cash and short-term marketable securities approximate their fair values due to the short term nature of these financial instruments. |
Note 1 - Significant Accounti23
Note 1 - Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Summary of Valuation Allowance [Table Text Block] | Description Balance at Beginning of Period Charged to Costs and Expenses Charged to Other Accounts Deductions (1) Balance at End of Period Twelve months ended December 31, 2016 $ 99 (38 ) — — $ 61 Twelve months ended December 31, 2015 (unaudited) $ 73 71 — (45 ) $ 99 Six months ended December 31, 2015 $ 15 84 — — $ 99 Twelve months ended June 30, 2015 $ 92 — — (77 ) $ 15 |
Estimated Lives of Property, Plant and Equipment [Table Text Block] | Machinery and equipment (in years) 5 - 7 Furniture and fixtures (in years) 5 - 7 Leasehold Improvements (in years) 3 - 5 Computer equipment (in years) 3 - 5 |
Schedule of Product Warranty Liability [Table Text Block] | December 31, 2016 2015 Audited Unaudited Beginning balance $ 187 $ 168 Cost of warranty claims (157 ) (141 ) Accruals for product warranties 206 160 Ending balance $ 236 $ 187 |
Fair Value, Assets Measured on Recurring Basis [Table Text Block] | December 31, 2016 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash & Cash Equivalents Level 1: Cash $ 3,691 $ - $ - $ 3,691 $ 3,691 Restricted Cash 100 - - 100 100 Money Market Funds - - - - - Total $ 3,791 $ - $ - $ 3,791 $ 3,791 December 31, 2015 Adjusted Cost Unrealized Gains Unrealized Losses Fair Value Cash & Cash Equivalents Level 1: Cash $ 828 $ - $ - $ 828 $ 828 Restricted Cash 100 - - 100 100 Money Market Funds 3,035 - - 3,035 3,035 Total $ 3,963 $ - $ - $ 3,963 $ 3,963 |
Note 2 - Inventories, Net (Tabl
Note 2 - Inventories, Net (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31 , 2016 December 31, 2015 Raw materials $ 45 $ 263 Finished goods 1,315 2,181 Inventories, net $ 1,360 $ 2,444 |
Note 3 - Property and Equipme25
Note 3 - Property and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | December 31 , 2016 December 31, 2015 Leasehold improvements $ 114 $ 114 Furniture and fixtures 314 373 Machinery and equipment 1,039 1,329 1,467 1,816 Less accumulated depreciation and amortization (1,181 ) (1,370 ) Property and equipment, net $ 286 $ 446 |
Note 4 - Accrued Payroll and 26
Note 4 - Accrued Payroll and Related Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Accrued Liabilities [Table Text Block] | December 31 , 2016 December 31, 2015 Accrued salaries and payroll taxes $ 62 $ 179 Accrued vacation 120 153 Accrued bonuses 40 — Total accrued payroll and related liabilities $ 222 $ 332 |
Note 5 - Other Accrued Liabil27
Note 5 - Other Accrued Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Other Accrued Liabilities [Table Text Block] | December 31 , 2016 December 31, 2015 Accrued warranty $ 236 $ 187 Accrued outside commissions 28 37 Accrued contingent legal fees 25 — Accrued deferred rent 37 42 Accrued audit — 149 Other accrued liabilities 33 52 Total other accrued liabilities $ 359 $ 467 |
Note 6 - Income Taxes (Tables)
Note 6 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | December 31 , 2016 December 31, 2015 Current: Federal $ — $ — State — 20 — 20 Deferred: Federal — — State — — $ — $ — $ 20 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Twelve Months Ended December 31, Six Months Ended December 31, Twelve Months Ended June 30, 201 6 201 5 2015 2015 Audited (Unaudited) Audited Audited Statutory federal income tax benefit (34.0 )% (34.0 )% (34.0 )% (34.0 )% State income taxes, net of federal income tax benefit 8.7 (10.9 ) (10.9 ) (4.3 ) Foreign income taxes, net of federal income tax benefit (1.3 ) 0.7 0.7 1.8 Engineering credits (5.2 ) (2.5 ) (2.5 ) (8.2 ) Valuation allowance 26.2 48.3 48.3 43.3 Other 5.6 (0.5 ) (0.5 ) 1.4 Effective federal income tax rate 0.0 % 1.1 % 1.1 % 0.0 % |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | December 31 , 2016 December 31, 2015 Deferred tax assets: Net operating loss carry forwards $ 12,295 $ 11,461 Engineering credit carry forwards 1,830 1,771 Inventory reserves 1,015 1,412 Capital loss and other credit carry forwards 21 67 Allowance for bad debts and returns 45 44 Capitalized inventory costs, stock compensation and other accruals 596 784 Total gross deferred tax assets 15,802 15,539 Less valuation allowance on deferred tax assets (15,765 ) (15,448 ) Net deferred tax assets 37 91 Deferred tax liabilities: Depreciation and other (37 ) (91 ) Total deferred tax liabilities (37 ) (91 ) Net deferred taxes $ — $ — |
Schedule of Unrecognized Tax Benefits Roll Forward [Table Text Block] | December 31 , 2016 December 31, 2015 Beginning Balance $ 27 $ 17 Increases related to tax positions taken in prior year 2 10 Decreases due to lapse of statute of limitations — — Related interest and penalties, net of federal tax benefit — — Balance at December 31 $ 29 $ 27 |
Note 8 - Stock-based Compensa29
Note 8 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | Options Shares Weighted Average Exercise Price per Share Weighted Average Remaining Contractual Term (years) Aggregate Intrinsic Value Outstanding at July 1, 2014 12,333 $ 17.34 25.86 $ — Granted 33,333 7.50 — — Exercised — — — — Forfeited or expired (2,666 ) 22.26 — — Outstanding at June 30, 2015 43,000 9.42 48.54 — Granted — — — — Exercised — — — — Forfeited or expired (3,000 ) 18.60 — — Outstanding at December 31, 2015 40,000 8.70 47.94 — Granted — — — — Exercised — — — — Forfeited, canceled or expired (16,667 ) 7.62 — — Outstanding at December 31, 2016 23,333 9.49 6.43 — Exercisable at December 31, 2016 23,333 $ 9.49 6.43 $ — |
Schedule of Nonvested Restricted Stock Units Activity [Table Text Block] | Restricted Stock Awards Shares Weighted Average Fair Value Price per Share Nonvested at July 1, 2015 16,667 $ 9.66 Granted (1) — Vested — Forfeited or expired (2) (16,667 ) (9.66 ) Nonvested at December 31, 2015 — $ — Granted (1) — — Vested — — Forfeited or expired (2) — — Nonvested at December 31, 2016 — $ — |
Note 10 - Commitments (Tables)
Note 10 - Commitments (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block] | Years Ending December 31, Minimum Lease Payment Sublease Revenue Net Minimum Lease Payment 2017 $ 288 $ (139 ) $ 149 2018 160 (143 ) 17 2019 135 (147 ) (12 ) 2020 11 (12 ) (1 ) Total Commitment $ 594 $ (441 ) $ 153 |
Note 11 - Segment Information (
Note 11 - Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2016 | |
Notes Tables | |
Reconciliation of Revenue from Segments to Consolidated [Table Text Block] | Twelve Months Ended December 31, Six Months Ended December 31, Twelve Months Ended June 30, 201 6 201 5 2015 2015 Audited Unaudited Audited Audited Revenue Power Supplies $ 5,601 $ 5,842 $ 2,463 $ 6,330 Data Storage: Product 1,949 3,063 1,410 4,478 Service 1,867 2,073 1,051 2,094 Total Data Storage 3,816 5,136 2,461 6,572 Total Revenue $ 9,417 $ 10,978 $ 4,924 $ 12,902 |
Reconciliation of Assets from Segment to Consolidated [Table Text Block] | December 31 , 2016 December 31, 2015 Total Assets Cash and Cash Equivalents $ 3,691 $ 3,863 Restricted cash 100 100 Other Assets : Power Supplies Accounts receivable, net 1,158 1,009 Inventories, net 444 1,008 Other assets 74 75 1,676 2,092 Data Storage Accounts receivable, net 425 621 Inventories, net 916 1,436 Other assets 455 615 1,796 2,672 Total Assets $ 7,263 $ 8,727 December 31 , 2016 December 31, 2015 Property and Equipment Power Supplies: Gross fixed assets $ 534 $ 568 Less: accumulated depreciation and amortization (500 ) (522 ) Net power supply fixed assets $ 34 $ 46 Data Storage: Gross fixed assets $ 933 $ 1,248 Less: accumulated depreciation and amortization (681 ) (848 ) Net data storage fixed assets $ 252 $ 400 |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Twelve Months Ended December 31, Six Months Ended December 31, Twelve Months Ended June 30, 201 6 201 5 2015 2015 Audited (Unaudited) Audited Audited Total Revenue: North America $ 5,077 $ 5,454 $ 2,860 $ 5,929 Europe 1,955 1,820 713 2,195 Asia Pacific 2,293 3,228 1,211 4,169 Other 92 476 140 609 $ 9,417 $ 10,978 $ 4,924 $ 12,902 Power Supply Revenue: North America 2,157 2,042 1,001 2,185 Europe 1,474 1,149 487 1,333 Asia Pacific 1,970 2,651 975 2,812 Other — — — — $ 5,601 $ 5,842 $ 2,463 $ 6,330 Data Storage Revenue: North America 2,920 3,412 1,859 3,744 Europe 481 671 226 862 Asia Pacific 323 578 236 1,357 Other 92 476 140 609 $ 3,816 $ 5,136 $ 2,461 $ 6,572 |
(Loss) Income before Taxes by Segment [Member] | |
Notes Tables | |
Reconciliation of Other Significant Reconciling Items from Segments to Consolidated [Table Text Block] | Twelve Months Ended December 31, Six Months Ended December 31, Twelve Months Ended June 30, 201 6 201 5 2015 2015 Audited Unaudited Audited Audited (Loss) before Taxes Power Supplies $ (545 ) $ (833 ) $ (524 ) $ (714 ) Data Storage (665 ) (1,773 ) (1,341 ) (594 ) Total Loss before Income Taxes $ (1,210 ) $ (2,606 ) $ (1,865 ) $ (1,308 ) |
Note 1 - Significant Accounti32
Note 1 - Significant Accounting Policies (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Product Return Period | 30 days | |||
Deferred Revenue | $ 1,098,000 | $ 892,000 | $ 1,098,000 | |
Restricted Cash and Cash Equivalents, Current | 100,000 | $ 100,000 | 100,000 | |
Power Supplies and Repair Warranty, Term | 3 years | |||
Advertising Expense | 58,000 | $ 73,000 | $ 69,000 | $ 150,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 23,333 | 40,000 | 43,000 | |
Deferred Profit | 0 | $ 0 | $ 0 | |
Impairment of Long-Lived Assets Held-for-use | $ 0 | $ 0 | $ 0 | $ 0 |
XLS and RLS Models [Member] | ||||
Advance Replacement Warranty Period | 3 years | |||
XLS Libraries [member] | ||||
Warranty, Onsite Service Period | 1 year | |||
Geographic Concentration Risk [Member] | Sales Revenue, Net [Member] | Outside North America [Member] | ||||
Concentration Risk, Percentage | 41.90% | 46.10% | 50.30% | 54.00% |
Customer Concentration Risk [Member] | Sales Revenue, Net [Member] | Largest Customer [Member] | ||||
Concentration Risk, Percentage | 10.70% | 10.60% | 14.80% | 11.10% |
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Largest Customer [Member] | ||||
Concentration Risk, Percentage | 22.30% | 8.20% |
Note 1 - Significant Accounti33
Note 1 - Significant Accounting Policies - Allowance for Doubtful Accounts (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Balance at Beginning of Period | $ 15 | $ 99 | $ 73 | $ 92 |
Charged to Costs and Expenses | 84 | (38) | 71 | |
Deductions | (45) | (77) | ||
Balance at End of Period | $ 99 | $ 61 | $ 99 | $ 15 |
Note 1 - Significant Accounti34
Note 1 - Significant Accounting Policies - Estimated Useful Lives of Property and Equipment (Details) | 12 Months Ended |
Dec. 31, 2016 | |
Machinery and Equipment [Member] | |
Property, plant and equipment, useful life (Year) | |
Machinery and Equipment [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Machinery and Equipment [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 7 years |
Furniture and Fixtures [Member] | |
Property, plant and equipment, useful life (Year) | |
Furniture and Fixtures [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Furniture and Fixtures [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 7 years |
Leasehold Improvements [Member] | |
Property, plant and equipment, useful life (Year) | |
Leasehold Improvements [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 3 years |
Leasehold Improvements [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Computer Equipment [Member] | |
Property, plant and equipment, useful life (Year) | |
Computer Equipment [Member] | Minimum [Member] | |
Property, plant and equipment, useful life (Year) | 3 years |
Computer Equipment [Member] | Maximum [Member] | |
Property, plant and equipment, useful life (Year) | 5 years |
Note 1 - Significant Accounti35
Note 1 - Significant Accounting Policies - Liability for Product Warranty (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Beginning balance | $ 187 | $ 168 |
Cost of warranty claims | (157) | (141) |
Accruals for product warranties | 206 | 160 |
Ending balance | $ 236 | $ 187 |
Note 1 - Significant Accounti36
Note 1 - Significant Accounting Policies - Assets and Liabilities at Fair Value on a Recurring Basis (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Dec. 31, 2014 | Jun. 30, 2014 |
Restricted Cash and Cash Equivalents, Current | $ 100,000 | $ 100,000 | |||
Adjusted Cost | 3,791,000 | 3,963,000 | $ 4,696,000 | $ 5,242,000 | $ 5,462,000 |
Fair Value, Inputs, Level 1 [Member] | Fair Value, Measurements, Recurring [Member] | |||||
Adjusted Cost | 3,691,000 | 828,000 | |||
Restricted Cash and Cash Equivalents, Current | 100,000 | 100,000 | |||
Adjusted Cost | 3,035,000 | ||||
Adjusted Cost | $ 3,791,000 | $ 3,963,000 |
Note 2 - Inventories, Net - Inv
Note 2 - Inventories, Net - Inventories at Lower of FIFO Cost or Market (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Raw materials | $ 45 | $ 263 |
Finished goods | 1,315 | 2,181 |
Inventories, net | $ 1,360 | $ 2,444 |
Note 3 - Property and Equipme38
Note 3 - Property and Equipment, Net (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Depreciation | $ 101,000 | $ 182,000 | $ 217,000 | $ 220,000 |
Note 3 - Property and Equipme39
Note 3 - Property and Equipment, Net - Components of Property and Equipment (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Property, plant and equipment, gross | $ 1,467 | $ 1,816 |
Less accumulated depreciation and amortization | (1,181) | (1,370) |
Property and equipment, net | 286 | 446 |
Leasehold Improvements [Member] | ||
Property, plant and equipment, gross | 114 | 114 |
Furniture and Fixtures [Member] | ||
Property, plant and equipment, gross | 314 | 373 |
Machinery and Equipment [Member] | ||
Property, plant and equipment, gross | $ 1,039 | $ 1,329 |
Note 4 - Accrued Payroll and 40
Note 4 - Accrued Payroll and Related Liabilities - Components of Accrued Payroll and Related Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accrued salaries and payroll taxes | $ 62 | $ 179 |
Accrued vacation | 120 | 153 |
Accrued bonuses | 40 | |
Total accrued payroll and related liabilities | $ 222 | $ 332 |
Note 5 - Other Accrued Liabil41
Note 5 - Other Accrued Liabilities - Other Accrued Liabilities (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Accrued warranty | $ 236 | $ 187 |
Accrued deferred rent | 37 | 42 |
Other accrued liabilities | 359 | 467 |
Accrued Service Contracts [Member] | ||
Accrued outside commissions | 28 | 37 |
Accrued Contingent Legal Fees [Member] | ||
Accrued outside commissions | 25 | |
Accrued Audit [Member] | ||
Accrued outside commissions | 149 | |
Other Accrued Liabilities [Member] | ||
Other accrued liabilities | $ 33 | $ 52 |
Note 6 - Income Taxes (Details
Note 6 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | ||
Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Tax Credit Carryforward, Amount | $ 2,700,000 | $ 2,600,000 | $ 2,600,000 |
Unrecognized Tax Benefits, Period Increase (Decrease) | $ (540,000) | ||
Earliest Tax Year [Member] | Other Tax Credit Carryforwards [Member] | |||
Operating Loss Carryforwards, Expiration Year | 2,024 | ||
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | |||
Operating Loss Carryforwards | $ 32,600,000 | 30,100,000 | 29,400,000 |
Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member] | Earliest Tax Year [Member] | |||
Operating Loss Carryforwards, Expiration Year | 2,025 | ||
State and Local Jurisdiction [Member] | |||
Operating Loss Carryforwards | $ 21,900,000 | 20,300,000 | $ 20,400,000 |
State and Local Jurisdiction [Member] | Earliest Tax Year [Member] | |||
Operating Loss Carryforwards, Expiration Year | 2,017 | ||
Foreign Tax Authority [Member] | |||
Operating Loss Carryforwards | $ 200,000 | $ 200,000 |
Note 6 - Income Taxes - Provisi
Note 6 - Income Taxes - Provision for (Benefit from) Income Taxes (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Current: | ||||
Federal | ||||
State | 20 | |||
20 | ||||
Deferred: | ||||
Federal | ||||
State | ||||
$ 20 | $ 20 |
Note 6 - Income Taxes - Reconci
Note 6 - Income Taxes - Reconciliation of the Statutory Federal Income Tax Rate to Qualstar's Effective Rate (Details) | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Statutory federal income tax benefit | (34.00%) | (34.00%) | (34.00%) | (34.00%) |
State income taxes, net of federal income tax benefit | (10.90%) | 8.70% | (10.90%) | (4.30%) |
Foreign income taxes, net of federal income tax benefit | 0.70% | (1.30%) | 0.70% | 1.80% |
Engineering credits | (2.50%) | (5.20%) | (2.50%) | (8.20%) |
Valuation allowance | 48.30% | 26.20% | 48.30% | 43.30% |
Other | (0.50%) | 5.60% | (0.50%) | 1.40% |
Effective federal income tax rate | 1.10% | 0.00% | 1.10% | 0.00% |
Note 6 - Income Taxes - Deferre
Note 6 - Income Taxes - Deferred Income Tax Assets (Details) - USD ($) $ in Thousands | Dec. 31, 2016 | Dec. 31, 2015 |
Deferred tax assets: | ||
Net operating loss carry forwards | $ 12,295 | $ 11,461 |
Engineering credit carry forwards | 1,830 | 1,771 |
Inventory reserves | 1,015 | 1,412 |
Capital loss and other credit carry forwards | 21 | 67 |
Allowance for bad debts and returns | 45 | 44 |
Capitalized inventory costs, stock compensation and other accruals | 596 | 784 |
Total gross deferred tax assets | 15,802 | 15,539 |
Less valuation allowance on deferred tax assets | (15,765) | (15,448) |
Net deferred tax assets | 37 | 91 |
Deferred tax liabilities: | ||
Depreciation and other | (37) | (91) |
Total deferred tax liabilities | (37) | (91) |
Net deferred taxes |
Note 6 - Income Taxes - Uncerta
Note 6 - Income Taxes - Uncertain Tax Positions (Details) - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2016 | Dec. 31, 2015 | |
Beginning Balance | $ 27 | $ 17 |
Increases related to tax positions taken in prior year | 2 | 10 |
Decreases due to lapse of statute of limitations | ||
Related interest and penalties, net of federal tax benefit | ||
Ending Balance | $ 29 | $ 27 |
Note 7 - Preferred Stock (Detai
Note 7 - Preferred Stock (Details Textual) - shares | Dec. 31, 2016 | Dec. 31, 2015 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Note 8 - Stock-based Compensa48
Note 8 - Stock-based Compensation (Details Textual) | Jun. 14, 2016 | Apr. 01, 2014$ / sharesshares | Dec. 31, 2015USD ($)shares | Dec. 31, 2016USD ($)shares | Dec. 31, 2015USD ($)shares | Jun. 30, 2015USD ($)shares | |
Allocated Share-based Compensation Expense | $ | $ 22,000 | $ 2 | $ 62 | $ 96,000 | |||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross | shares | 0 | 0 | 0 | 33,333 | |||
Employee Service Share-based Compensation, Tax Benefit from Compensation Expense | $ | $ 0 | $ 0 | $ 0 | $ 0 | |||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized | $ | $ 0 | ||||||
Restricted Stock [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | [1] | ||||||
Share Price | $ / shares | $ 9.66 | ||||||
Restricted Stock [Member] | Executive Vice President [Member] | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period | shares | 16,667 | ||||||
Reverse Stock Split [Member] | |||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 6 | ||||||
Plan 1998 [Member] | |||||||
Share-based Compensation, Shares Authorized under Stock Incentive Plans, Minimum Percentage of Common Stock Fair Market Value, Exercise Price | 100.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period Percentage Per Year | 25.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Plan 2008 [Member] | |||||||
Share-based Compensation, Shares Authorized under Stock Incentive Plans, Minimum Percentage of Common Stock Fair Market Value, Exercise Price | 100.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 4 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period Percentage Per Year | 25.00% | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized | shares | 83,333 | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested in Period, Fair Value | $ | $ 0 | $ 12,000 | $ 29,000 | $ 29,000 | |||
Plan 2008 [Member] | Owners of 10% or More of Total Combined Voting Power [Member] | |||||||
Share-based Compensation, Shares Authorized under Stock Incentive Plans, Minimum Percentage of Common Stock Fair Market Value, Exercise Price | 110.00% | ||||||
[1] | Restricted stock was granted on April 1, 2014 to Daniel K. Jan of 16,667 shares to vest beginning on April 1, 2017. The award was part of his employment agreement and the grant price is the closing price of the stock on April 1, 2014 of $9.66. The unvested shares are forfeited upon termination of his employment. |
Note 8 - Stock-based Compensa49
Note 8 - Stock-based Compensation - Stock Option Activity (Details) - $ / shares | 6 Months Ended | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | Jun. 30, 2014 | |
Outstanding, shares (in shares) | 43,000 | 40,000 | 12,333 | ||
Weighted-average exercise price per share, outstanding (in dollars per share) | $ 8.70 | $ 9.49 | $ 8.70 | $ 9.42 | $ 17.34 |
Weighted-average remaining contractual term, outstanding (Year) | 47 years 343 days | 6 years 156 days | 48 years 197 days | 25 years 313 days | |
Granted, shares (in shares) | 0 | 0 | 0 | 33,333 | |
Weighted-average exercise price per share, granted (in dollars per share) | $ 7.50 | ||||
Forfeited or expired, shares (in shares) | (3,000) | (16,667) | (2,666) | ||
Weighted-average exercise price per share, forfeited or expired (in dollars per share) | $ 18.60 | $ 7.62 | $ 22.26 | ||
Outstanding, shares (in shares) | 40,000 | 23,333 | 40,000 | 43,000 | 12,333 |
Exercisable, shares (in shares) | 23,333 | ||||
Weighted-average exercise price per share, exercisable (in dollars per share) | $ 9.49 | ||||
Weighted-average remaining contractual term, exercisable (Year) | 6 years 156 days |
Note 8 - Stock-based Compensa50
Note 8 - Stock-based Compensation - Restricted Stock Awards Activity (Details) - Restricted Stock [Member] - $ / shares | 6 Months Ended | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2016 | ||
Shares, unvested (in shares) | 16,667 | ||
Weighted-average fair value price per share, nonvested (in dollars per share) | $ 9.66 | ||
Shares, granted (in shares) | [1] | ||
Weighted-average fair value price per share, granted (in dollars per share) | [1] | ||
Shares, vested (in shares) | |||
Weighted-average fair value price per share, vested (in dollars per share) | |||
Shares, forfeited or expired (in shares) | [2] | (16,667) | |
Weighted-average fair value price per share, forfeited and expired (in dollars per share) | [2] | $ (9.66) | |
Shares, unvested (in shares) | |||
Weighted-average fair value price per share, nonvested (in dollars per share) | |||
Shares, forfeited or expired (in shares) | [2] | 16,667 | |
Weighted-average fair value price per share, forfeited and expired (in dollars per share) | [2] | $ 9.66 | |
[1] | Restricted stock was granted on April 1, 2014 to Daniel K. Jan of 16,667 shares to vest beginning on April 1, 2017. The award was part of his employment agreement and the grant price is the closing price of the stock on April 1, 2014 of $9.66. The unvested shares are forfeited upon termination of his employment. | ||
[2] | Daniel K. Jan was terminated as of December 31, 2015, all unvested shares were forfeited. |
Note 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Details Textual) | Jun. 14, 2016$ / sharesshares | Dec. 31, 2016shares | Nov. 11, 2016USD ($) | Jun. 13, 2016shares | Dec. 31, 2015shares |
Share Price Before Reverse Stock Split | $ / shares | $ 2.52 | ||||
Common Stock, Shares, Outstanding | 2,042,020 | 2,042,000 | 12,253,117 | 2,042,000 | |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 | |||
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 | |||
Stock Repurchase Program [Member] | |||||
Stock Repurchase Program, Authorized Amount | $ | $ 750,000 | ||||
Reverse Stock Split [Member] | |||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 6 |
Note 10 - Commitments (Details
Note 10 - Commitments (Details Textual) | Apr. 01, 2016USD ($)ft² | Mar. 21, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2016USD ($)ft² | Dec. 31, 2015USD ($) | Jun. 30, 2015USD ($) |
Operating Leases, Rent Expense, Net | $ 132,000 | $ 184,000 | $ 314,000 | $ 402,000 | ||
Simi Valley California [Member] | ||||||
Area of Real Estate Property | ft² | 15,160 | |||||
Operating Lease Monthly Rent | $ 10,000 | |||||
Monthly Rent Step-up Percentage | 3.00% | |||||
Westlake Village, California [Member] | ||||||
Area of Real Estate Property | ft² | 5,400 | |||||
Operating Lease Monthly Rent | $ 10,000 | |||||
Monthly Rent Step-up Percentage | 3.00% | |||||
Operating Leases, Monthly Sublease Rent | $ 11,000 | |||||
Operating Leases, Sublease, Monthly Rent Step-up Percentage | 3.00% | |||||
Singapore [Member] | ||||||
Area of Real Estate Property | ft² | 1,359 | |||||
Operating Lease Monthly Rent | $ 2,200 |
Note 10 - Commitments - Future
Note 10 - Commitments - Future Minimum Lease Payments (Details) $ in Thousands | Dec. 31, 2016USD ($) |
2017, Minimum Lease Payment | $ 288 |
2017, Sublease Revenue | (139) |
2017, Net Minimum Lease Payment | 149 |
2018, Minimum Lease Payment | 160 |
2018, Sublease Revenue | (143) |
2018, Net Minimum Lease Payment | 17 |
2019, Minimum Lease Payment | 135 |
2019, Sublease Revenue | (147) |
2019, Net Minimum Lease Payment | (12) |
2020, Minimum Lease Payment | 11 |
2020, Sublease Revenue | (12) |
2020, Net Minimum Lease Payment | (1) |
Total Commitment, Minimum Lease Payment | 594 |
Total Commitment, Sublease Revenue | (441) |
Total Commitment, Net Minimum Lease Payment | $ 153 |
Note 11 - Segment Information54
Note 11 - Segment Information (Details Textual) | 12 Months Ended |
Dec. 31, 2016 | |
Number of Operating Segments | 2 |
Note 11 - Segment Information -
Note 11 - Segment Information - Segment Revenue (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Revenue | ||||
Power Supplies | $ 4,924 | $ 9,417 | $ 10,978 | $ 12,902 |
Data Storage: | ||||
Power Supplies | 4,924 | 9,417 | 10,978 | 12,902 |
Power Supplies [Member] | ||||
Revenue | ||||
Power Supplies | 2,463 | 5,601 | 5,842 | 6,330 |
Data Storage: | ||||
Power Supplies | 2,463 | 5,601 | 5,842 | 6,330 |
Data Storage [Member] | ||||
Revenue | ||||
Power Supplies | 2,461 | 3,816 | 5,136 | 6,572 |
Data Storage: | ||||
Power Supplies | 2,461 | 3,816 | 5,136 | 6,572 |
Data Storage [Member] | Product [Member] | ||||
Revenue | ||||
Power Supplies | 1,410 | 1,949 | 3,063 | 4,478 |
Data Storage: | ||||
Power Supplies | 1,410 | 1,949 | 3,063 | 4,478 |
Data Storage [Member] | Service [Member] | ||||
Revenue | ||||
Power Supplies | 1,051 | 1,867 | 2,073 | 2,094 |
Data Storage: | ||||
Power Supplies | $ 1,051 | $ 1,867 | $ 2,073 | $ 2,094 |
Note 11 - Segment Information56
Note 11 - Segment Information - Income (Loss) Before Taxes by Segment (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
(Loss) before Taxes | ||||
Loss before taxes | $ (1,865) | $ (1,210) | $ (2,606) | $ (1,308) |
Power Supplies [Member] | ||||
(Loss) before Taxes | ||||
Loss before taxes | (524) | (545) | (833) | (714) |
Data Storage [Member] | ||||
(Loss) before Taxes | ||||
Loss before taxes | $ (1,341) | $ (665) | $ (1,773) | $ (594) |
Note 11 - Segment Information57
Note 11 - Segment Information - Total Assets by Segment (Details) - USD ($) | Dec. 31, 2016 | Dec. 31, 2015 |
Cash and Cash Equivalents | $ 3,691,000 | $ 3,863,000 |
Restricted Cash and Cash Equivalents, Current | 100,000 | 100,000 |
Accounts receivable, net | 1,583,000 | 1,630,000 |
Inventories, net | 1,360,000 | 2,444,000 |
Total assets | 7,263,000 | 8,727,000 |
Power Supplies [Member] | ||
Accounts receivable, net | 1,158,000 | 1,009,000 |
Inventories, net | 444,000 | 1,008,000 |
Other assets | 74,000 | 75,000 |
Total assets | 1,676,000 | 2,092,000 |
Property and Equipment | ||
Gross fixed assets | 534,000 | 568,000 |
Less: accumulated depreciation and amortization | (500,000) | (522,000) |
Net power supply fixed assets | 34,000 | 46,000 |
Data Storage [Member] | ||
Accounts receivable, net | 425,000 | 621,000 |
Inventories, net | 916,000 | 1,436,000 |
Other assets | 455,000 | 615,000 |
Total assets | 1,796,000 | 2,672,000 |
Property and Equipment | ||
Gross fixed assets | 933,000 | 1,248,000 |
Less: accumulated depreciation and amortization | (681,000) | (848,000) |
Net power supply fixed assets | $ 252,000 | $ 400,000 |
Note 11 - Segment Information58
Note 11 - Segment Information - Revenue by Primary Geographic Operating Region (Details) - USD ($) $ in Thousands | 6 Months Ended | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | |
Power Supplies | $ 4,924 | $ 9,417 | $ 10,978 | $ 12,902 |
Power Supplies [Member] | ||||
Power Supplies | 2,463 | 5,601 | 5,842 | 6,330 |
Data Storage [Member] | ||||
Power Supplies | 2,461 | 3,816 | 5,136 | 6,572 |
North America [Member] | ||||
Power Supplies | 2,860 | 5,077 | 5,454 | 5,929 |
North America [Member] | Power Supplies [Member] | ||||
Power Supplies | 1,001 | 2,157 | 2,042 | 2,185 |
North America [Member] | Data Storage [Member] | ||||
Power Supplies | 1,859 | 2,920 | 3,412 | 3,744 |
Europe [Member] | ||||
Power Supplies | 713 | 1,955 | 1,820 | 2,195 |
Europe [Member] | Power Supplies [Member] | ||||
Power Supplies | 487 | 1,474 | 1,149 | 1,333 |
Europe [Member] | Data Storage [Member] | ||||
Power Supplies | 226 | 481 | 671 | 862 |
Asia Pacific [Member] | ||||
Power Supplies | 1,211 | 2,293 | 3,228 | 4,169 |
Asia Pacific [Member] | Power Supplies [Member] | ||||
Power Supplies | 975 | 1,970 | 2,651 | 2,812 |
Asia Pacific [Member] | Data Storage [Member] | ||||
Power Supplies | 236 | 323 | 578 | 1,357 |
Other Geographic Areas [Member] | ||||
Power Supplies | 140 | 92 | 476 | 609 |
Other Geographic Areas [Member] | Power Supplies [Member] | ||||
Power Supplies | ||||
Other Geographic Areas [Member] | Data Storage [Member] | ||||
Power Supplies | $ 140 | $ 92 | $ 476 | $ 609 |
Note 12 - Legal Proceedings (De
Note 12 - Legal Proceedings (Details Textual) | Dec. 31, 2016USD ($) |
Loss Contingency, Accrual, Current | $ 25,000 |
Note 13 - Benefit Plans (Detail
Note 13 - Benefit Plans (Details Textual) | 12 Months Ended |
Dec. 31, 2016 | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 100.00% |
Defined Contribution Plan, Employer Matching Contribution, Percent of Match | 25.00% |
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 6.00% |
Note 14 - Related Party Trans61
Note 14 - Related Party Transactions (Details Textual) - USD ($) | 6 Months Ended | 12 Months Ended | |||
Dec. 31, 2015 | Dec. 31, 2016 | Dec. 31, 2015 | Jun. 30, 2015 | May 01, 2014 | |
Interlink Electronics, Inc. [Member] | |||||
Due from Related Parties | $ 6,000 | $ 1,000 | $ 6,000 | ||
Interlink Electronics, Inc. [Member] | Administrative Services Provided to Related Party [Member] | |||||
Revenue from Related Parties | 31,000 | 33,000 | 61,000 | $ 43,000 | |
Interlink Electronics, Inc. [Member] | Reimbursement of Expenses Paid By Related Party [Member] | |||||
Related Party Transaction, Amounts of Transaction | 4,000 | 13,000 | 14,000 | 56,000 | |
Due to Related Parties | $ 0 | $ 2,000 | 0 | ||
BKF Capital Group [Member] | License Agreement [Member] | |||||
Monthly License Fee Receivable | $ 1,200 | ||||
Proceeds from License Fees Received | $ 2,400 | $ 9,600 |
Note 15 - Restructuring Charg62
Note 15 - Restructuring Charges (Details Textual) | 12 Months Ended |
Jun. 30, 2015USD ($) | |
Lease Abandonment Obligation [Member] | |
Restructuring Reserve, Accrual Adjustment | $ 245,000 |