Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Mar. 24, 2022 | Jun. 30, 2021 | |
Document Information [Line Items] | |||
Entity Central Index Key | 0000811212 | ||
Entity Registrant Name | ThermoGenesis Holdings, Inc. | ||
Amendment Flag | false | ||
Current Fiscal Year End Date | --12-31 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2021 | ||
Document Type | 10-K | ||
Document Annual Report | true | ||
Document Period End Date | Dec. 31, 2021 | ||
Document Transition Report | false | ||
Entity File Number | 000-16375 | ||
Entity Incorporation, State or Country Code | DE | ||
Entity Tax Identification Number | 94-3018487 | ||
Entity Address, Address Line One | 2711 Citrus Road | ||
Entity Address, City or Town | Rancho Cordova | ||
Entity Address, State or Province | CA | ||
Entity Address, Postal Zip Code | 95742 | ||
City Area Code | 916 | ||
Local Phone Number | 858-5100 | ||
Title of 12(b) Security | Common Stock, $.001 par value | ||
Trading Symbol | THMO | ||
Security Exchange Name | NASDAQ | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
ICFR Auditor Attestation Flag | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 26,985,000 | ||
Entity Common Stock, Shares Outstanding | 12,829,877 | ||
Auditor Name | Marcum llp | ||
Auditor Location | New York, NY | ||
Auditor Firm ID | 688 |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Current assets: | ||
Cash and cash equivalents | $ 7,280,000 | $ 7,161,000 |
Accounts receivable, net of allowance for doubtful accounts of $156,000 ($214,000 at December 31, 2020) | 733,000 | 1,382,000 |
Inventories | 5,373,000 | 5,877,000 |
Prepaid expenses and other current assets | 1,578,000 | 878,000 |
Total current assets | 14,964,000 | 15,298,000 |
Inventories, non-current | 1,709,000 | 1,221,000 |
Equipment and leasehold improvements, net | 1,261,000 | 1,424,000 |
Right-of-use operating lease assets, net | 571,000 | 730,000 |
Goodwill | 781,000 | 781,000 |
Intangible assets, net | 1,318,000 | 1,358,000 |
Other assets | 48,000 | 48,000 |
Total assets | 20,652,000 | 20,860,000 |
Current liabilities: | ||
Accounts payable | 1,280,000 | 1,366,000 |
Accrued payroll and related expenses | 348,000 | 349,000 |
Deferred revenue – short-term | 719,000 | 608,000 |
Interest payable – related party | 2,231,000 | 2,082,000 |
Note payable – short-term | 447,000 | |
Convertible promissory note, net | 813,000 | |
Other current liabilities | 957,000 | 1,291,000 |
Total current liabilities | 6,348,000 | 6,143,000 |
Convertible promissory note – related party, net | 9,245,000 | 5,935,000 |
Convertible promissory notes, net | 493,000 | |
Note payable | 199,000 | |
Operating lease obligations – long-term | 398,000 | 604,000 |
Deferred revenue – long-term | 1,244,000 | 1,596,000 |
Other noncurrent liabilities | 20,000 | 20,000 |
Total liabilities | 17,255,000 | 14,990,000 |
Commitments and contingencies | ||
Stockholders’ equity: | ||
Preferred stock, $0.001 par value; 2,000,000 shares authorized, none outstanding | 0 | 0 |
Common stock, $0.001 par value; 350,000,000 shares authorized; 11,911,784 issued and outstanding (8,934,952 at December 31, 2020) | 12,000 | 9,000 |
Additional paid in capital | 268,447,000 | 259,058,000 |
Accumulated deficit | (264,662,000) | (253,283,000) |
Accumulated other comprehensive loss | 31,000 | 16,000 |
Total ThermoGenesis Holdings, Inc. stockholders’ equity | 3,828,000 | 5,800,000 |
Noncontrolling interests | (431,000) | 70,000 |
Total equity | 3,397,000 | 5,870,000 |
Total liabilities and equity | $ 20,652,000 | $ 20,860,000 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Accounts receivable, allowance for doubtful accounts | $ 156,000 | $ 214,000 |
Preferred stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred stock, shares authorized (in shares) | 2,000,000 | 2,000,000 |
Preferred stock, shares outstanding (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.001 | $ 0.001 |
Common stock, shares authorized (in shares) | 350,000,000 | 350,000,000 |
Common stock, shares issued (in shares) | 11,911,784 | 8,934,952 |
Common stock, shares outstanding (in shares) | 11,911,784 | 8,934,952 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Loss - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Net revenues | $ 9,294,000 | $ 9,744,000 |
Cost of revenues | 5,801,000 | 8,485,000 |
Gross profit | 3,493,000 | 1,259,000 |
Expenses: | ||
Selling, general and administrative | 8,515,000 | 7,677,000 |
Research and development | 2,209,000 | 2,477,000 |
Total operating expenses | 10,724,000 | 10,154,000 |
Loss from operations | (7,231,000) | (8,895,000) |
Other income / (expense): | ||
Interest expense | (6,103,000) | (7,908,000) |
Gain on extinguishment of debt | (652,000) | |
Employee retention tax credit and other income / (expense) | 802,000 | (8,000) |
Total other income / (expense) | (4,649,000) | (7,916,000) |
Net loss | (11,880,000) | (16,811,000) |
Loss attributable to non-controlling interests | (501,000) | (460,000) |
Net loss attributable to common stockholders | (11,379,000) | (16,351,000) |
Net loss | (11,880,000) | (16,811,000) |
Other comprehensive loss: | ||
Foreign currency translation adjustments | 15,000 | 14,000 |
Comprehensive loss | (11,865,000) | (16,797,000) |
Comprehensive loss attributable to non-controlling interests | (501,000) | (460,000) |
Comprehensive loss attributable to common stockholders | $ (11,364,000) | $ (16,337,000) |
Per share data: | ||
Basic and diluted net loss per common share (in dollars per share) | $ (0.96) | $ (2.60) |
Weighted average common shares outstanding Basic and diluted (in shares) | 11,796,065 | 6,277,986 |
Consolidated Statements of Equi
Consolidated Statements of Equity - USD ($) | At The Market Offering Agreement [Member]Common Stock [Member] | At The Market Offering Agreement [Member]Additional Paid-in Capital [Member] | At The Market Offering Agreement [Member] | Boyalife Asset Holding II [Member]Common Stock [Member] | Boyalife Asset Holding II [Member]Additional Paid-in Capital [Member] | Boyalife Asset Holding II [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | [1] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 2,843,601 | ||||||||||||
Balance at Dec. 31, 2019 | $ 3,000 | $ 237,313,000 | $ (236,932,000) | $ 2,000 | $ 530,000 | $ 916,000 | |||||||
Stock-based compensation expense | 880,000 | 880,000 | |||||||||||
Issuance of common stock (in shares) | 2,620,652 | 3,620,654 | |||||||||||
Issuance of common stock | $ 4,000 | 10,835,000 | 10,839,000 | ||||||||||
Foreign currency translation gain (loss) | 14,000 | 14,000 | |||||||||||
Net loss | (16,351,000) | (460,000) | (16,811,000) | ||||||||||
Exercise of pre-funded warrants (in shares) | 324,445 | ||||||||||||
Exercise of pre-funded warrants | 32,000 | 32,000 | |||||||||||
Exercise of warrants (in shares) | 275,137 | ||||||||||||
Exercise of warrants | 1,651,000 | 1,651,000 | |||||||||||
Discount due to beneficial conversion features | 4,981,000 | 4,981,000 | |||||||||||
Conversion of note payable to common stock (in shares) | 1,666,670 | 204,445 | |||||||||||
Conversion of related party note payable to common stock | $ 2,000 | $ 2,998,000 | $ 3,000,000 | 368,000 | 368,000 | ||||||||
Balance (in shares) at Dec. 31, 2020 | 8,934,952 | ||||||||||||
Balance at Dec. 31, 2020 | $ 9,000 | 259,058,000 | (253,283,000) | 16,000 | 70,000 | 5,870,000 | |||||||
Stock-based compensation expense | 2,560,000 | 2,560,000 | |||||||||||
Issuance of common stock (in shares) | 2,976,832 | ||||||||||||
Issuance of common stock | $ 3,000 | $ 6,829,000 | $ 6,832,000 | ||||||||||
Foreign currency translation gain (loss) | 15,000 | 15,000 | |||||||||||
Net loss | (11,379,000) | (501,000) | (11,880,000) | ||||||||||
Balance (in shares) at Dec. 31, 2021 | 11,911,784 | ||||||||||||
Balance at Dec. 31, 2021 | $ 12,000 | $ 268,447,000 | $ (264,662,000) | $ 31,000 | $ (431,000) | $ 3,397,000 | |||||||
[1] | Accumulated other comprehensive loss. |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash flows from operating activities: | ||
Net loss | $ (11,880,000) | $ (16,811,000) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 633,000 | 742,000 |
Stock-based compensation expense | 2,560,000 | 880,000 |
Amortization of debt discount/premium, net | 3,631,000 | 5,558,000 |
Reserve for excess and slow-moving inventories | 864,000 | 3,308,000 |
Reserve for bad debt expense | (56,000) | (12,000) |
Loss on disposal of equipment | 118,000 | |
Gain on extinguishment of debt | (652,000) | |
Net change in operating assets and liabilities: | ||
Accounts receivable | 703,000 | (90,000) |
Inventories | (1,031,000) | (6,582,000) |
Prepaid expenses and other assets | (700,000) | (106,000) |
Accounts payable | (74,000) | (76,000) |
Interest payable - related party | 149,000 | 213,000 |
Accrued payroll and related expenses | (1,000) | 61,000 |
Deferred revenue – short term | 111,000 | (12,000) |
Other current liabilities | (323,000) | (1,128,000) |
Long-term deferred revenue and other noncurrent liabilities | (554,000) | (456,000) |
Net cash used in operating activities | (6,620,000) | (14,393,000) |
Cash flows from investing activities: | ||
Capital expenditures | (93,000) | (23,000) |
Net cash used in investing activities | (93,000) | (23,000) |
Cash flows from financing activities: | ||
Proceeds from long-term debt | 4,287,000 | |
Payments on finance lease obligations | (33,000) | |
Proceeds from sale of common stock, net of expenses | 6,832,000 | 10,839,000 |
Proceeds from exercise of warrants and pre-funded warrants | 1,683,000 | |
Proceeds from note payable | 646,000 | |
Net cash provided by financing activities | 6,832,000 | 17,422,000 |
Effects of foreign currency rate changes on cash and cash equivalents | (2,000) | |
Net increase in cash, cash equivalents and restricted cash | 119,000 | 3,004,000 |
Cash, cash equivalents and restricted cash at beginning of period | 7,161,000 | 4,157,000 |
Cash, cash equivalents and restricted cash at end of period | 7,280,000 | 7,161,000 |
Supplemental disclosures of cash flow information: | ||
Cash paid for interest | 2,322,000 | 2,379,000 |
Supplemental non-cash financing and investing information: | ||
Recording of beneficial conversion feature on debt | 4,981,000 | |
Transfer of inventories to equipment | $ 181,000 | |
Conversion of Related Party Convertible Promissory Note Into Common Stock [Member] | ||
Supplemental non-cash financing and investing information: | ||
Related party promissory note converted to common stock | 3,000,000 | |
Conversion of January 2019 Amended Notes to Common Stock [Member] | ||
Supplemental non-cash financing and investing information: | ||
Related party promissory note converted to common stock | $ 368,000 |
Note 1 - Description of Busines
Note 1 - Description of Business | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | 1. D ESCRIPTION OF USINESS The Company develops, commercializes and markets a range of automated technologies for chimeric antigen receptor therapies (“CAR-T”) and other cell-based therapies. The Company currently markets a full suite of solutions for automated clinical biobanking, point-of-care applications, and automation for immuno-oncology, including its semi-automated, functionally closed CAR-TXpress™ platform, which streamlines the manufacturing process for the emerging CAR-T immunotherapy market. The Company was founded in 1986 The Company was founded in 1986 Our common stock is traded on the Nasdaq Capital Market exchange under the ticker symbol “THMO”. |
Note 2 - Going Concern
Note 2 - Going Concern | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 2. G OING ONCERN At December 31, 2021, may may one The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. The consolidated financial statements do not may |
Note 3 - Summary of Significant
Note 3 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 3. S UMMARY OF IGNIFCANT CCOUNTING OLICIES Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). Principles of Consolidation The consolidated financial statements include the accounts of ThermoGenesis Holdings, Inc. and its wholly-owned subsidiaries, ThermoGenesis Corp. and TotipotentRX Cell Therapy, Pvt. Ltd and ThermoGenesis Corp’s majority-owned subsidiary, CARTXpress Bio. All significant intercompany accounts and transactions have been eliminated upon consolidation. Non-controlling Interests The 20% ownership interest of CARTXpress Bio that is not Use of Estimates Preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used for, but not Revenue Recognition Revenue is recognized based on the following five 606, 13. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three may December 31, 2021 2020 not Foreign Currency Translation The Company’s reporting currency is the US dollar. The functional currency of the Company’s subsidiary in India is the Indian rupee (“INR”). Assets and liabilities are translated into US dollars at period end exchange rates. Revenue and expenses are translated at average rates of exchange prevailing during the periods presented. Cash flows are also translated at average exchange rates for the period, therefore, amounts reported on the consolidated statement of cash flows do not Goodwill, Intangible Assets and Impairment Assessments Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Intangible assets that are not three ten For goodwill and indefinite-lived intangible assets, the carrying amounts are periodically reviewed for impairment (at least annually) and whenever events or changes in circumstances indicate that the carrying value of these assets may not 350 , Intangibles-Goodwill and Other not 50 Fair Value of Financial Instruments In accordance with ASC 820, Fair Value Measurements and Disclosures The guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors that market participants would use in valuing the asset or liability. The guidance establishes three may Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Other observable inputs other than Level 1 not Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions. The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to their short duration. Accounts Receivable and Allowance for Doubtful Accounts The Company’s receivables are recorded when billed and represent claims against third may Inventories Inventories are stated at the lower of cost or net realizable value and include the cost of material, labor and manufacturing overhead. Cost is determined on the first first not At times, the Company will purchase inventories in larger quantities to obtain volume purchase discounts. In some cases, purchases may not December 31, 2021 December 31, 2020, Equipment and Leasehold Improvements Equipment consisting of machinery and equipment, computers and software, office equipment and leasehold improvements is recorded at cost less accumulated depreciation. Repairs and maintenance costs are expensed as incurred. Depreciation for machinery and equipment, computers and software and office furniture is computed under the straight-line method over the estimated useful lives. Leasehold improvements are amortized under the straight-line method over their estimated useful lives or the remaining lease period, whichever is shorter. When equipment and leasehold improvements are sold or otherwise disposed of, the asset account and related accumulated depreciation account are relieved, and the impact of any resulting gain or loss is recognized within general and administrative expenses in the consolidated statement of operations for the period. Warranty We provide for the estimated cost of product warranties at the time revenue is recognized. While we engage in extensive product quality programs and processes, including actively monitoring and evaluating the quality of our component suppliers, our warranty obligation is affected by product failure rates, material usage and service delivery costs incurred in correcting a product failure. Should actual product failure rates, material usage or service delivery costs differ from our estimates, revisions to the estimated warranty liability could have a material impact on our financial position, cash flows or results of operations. Debt Discount and Issue Costs The Company amortizes debt discount and debt issue costs over the life of the associated debt instrument, using the straight-line method which approximates the interest rate method. Stock-Based Compensation We use the Black-Scholes-Merton option-pricing formula in determining the fair value of our options at the grant date and apply judgment in estimating the key assumptions that are critical to the model such as the expected term, volatility and forfeiture rate of an option. Our estimate of these key assumptions is based on historical information and judgment regarding market factors and trends. If any of the key assumptions change significantly, stock-based compensation expense for new awards may The Company has three Note 12 Valuation and Amortization Method – The Company estimates the fair value of stock options granted using the Black-Scholes-Merton option-pricing formula. This fair value is then amortized on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period. The formula does not not Expected Term – For options which the Company has limited available data, the expected term of the option is based on the simplified method. This simplified method averages an award’s vesting term and its contractual term. For all other options, the Company's expected term represents the period that the Company's stock-based awards are expected to be outstanding and was determined based on historical experience of similar awards, giving consideration to the contractual terms of the stock-based awards, vesting schedules and expectations of future employee behavior. Expected Volatility – Expected volatility is based on historical volatility. Historical volatility is computed using daily pricing observations for recent periods that correspond to the expected term of the options. Expected Dividend – The Company has not not Risk-Free Interest Rate – The Company bases the risk-free interest rate used in the valuation method on the implied yield currently available on U.S. Treasury zero Estimated Forfeitures – When estimating forfeitures, the Company considers voluntary and involuntary termination behavior as well as analysis of actual option forfeitures. Research and Development Research and development costs, consisting of salaries and benefits, costs of disposables, facility costs, contracted services and stock-based compensation from the engineering, regulatory and scientific affairs departments, that are useful in developing and clinically testing new products, services, processes or techniques, as well as expenses for activities that may no Acquired In-Process Research and Development Acquired in-process research and development that the Company acquires through business combinations represents the fair value assigned to incomplete research projects which, at the time of acquisition, have not first not not Patent Costs The costs incurred in connection with patent applications, in defending and maintaining intellectual property rights and litigation proceedings are expensed as incurred. Credit Risk Currently, the Company primarily manufactures and sells cellular processing systems and thermodynamic devices principally to the blood and cellular component processing industry and performs ongoing evaluations of the credit worthiness of the Company’s customers. The Company believes that adequate provisions for uncollectible accounts have been made in the accompanying consolidated financial statements. To date, the Company has not Income Taxes The tax years 2000 2020 no The Company’s estimates of income taxes and the significant items resulting in the recognition of deferred tax assets and liabilities reflect the Company’s assessment of future tax consequences of transactions that have been reflected in the financial statements or tax returns for each taxing jurisdiction in which the Company operates. The Company bases the provision for income taxes on the Company’s current period results of operations, changes in deferred income tax assets and liabilities, income tax rates, and changes in estimates of uncertain tax positions in the jurisdictions in which the Company operates. The Company recognizes deferred tax assets and liabilities when there are temporary differences between the financial reporting basis and tax basis of assets and liabilities and for the expected benefits of using net operating loss and tax credit loss carryforwards. The Company establishes valuation allowances when necessary to reduce the carrying amount of deferred income tax assets to the amounts that the Company believes are more likely than not one may Income tax consequences that arise in connection with a business combination include identifying the tax basis of assets and liabilities acquired and any contingencies associated with uncertain tax positions assumed or resulting from the business combination. Deferred tax assets and liabilities related to temporary differences of an acquired entity are recorded as of the date of the business combination and are based on the Company’s estimate of the appropriate tax basis that will be accepted by the various taxing authorities and its determination as to whether any of the acquired deferred tax liabilities could be a source of taxable income to realize the Company’s pre-existing deferred tax assets. Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassifications did not December 31, 2021, one 14. Recently Adopted Accounting Standards In December 2019, 2019 12 Income Taxes (Topic 740 2019 12 740 December 15, 2020. not In January 2020, 2020 01, Investments Equity Securities (Topic 321 Equity Method and Joint Ventures (Topic 323 815 321, 323, 815 December 15, 2020, not Recently Issued Accounting Standards In August 2020, 2020 06 Debt-Debt with Conversion and Other Options ( Subtopic 470 20 ) and Derivatives and Hedging Contracts in Entity s Own Equity ( Subtopic 815 40 ): Accounting for Convertible Instruments and Contracts in an Entity s Own Equity, 1 2 3 may December 15, 2021, December 15, 2023, December 15, 2020. not In June 2016, ASU 2016 13, Topic 326 ). 2016 13 December 15, 2022, |
Note 4 - Equipment and Leasehol
Note 4 - Equipment and Leasehold Improvements | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | 4. E QUIPMENT AND EASEHOLD MPROVEMENTS Equipment and leasehold improvements consisted of the following: Year Ended December 31, 2021 2020 Estimated Useful Life (in years) Machinery and equipment $ 6,270,000 $ 6,004,000 2.5 - 10 Computer and software 631,000 631,000 2 - 5 Office equipment 256,000 256,000 5 - 10 Leasehold improvements 932,000 932,000 5 years or remaining lease term Total equipment 8,089,000 7,823,000 Less accumulated depreciation (6,828,000 ) (6,399,000 ) Total equipment and leasehold improvements, net $ 1,261,000 $ 1,424,000 Depreciation expense for the years ended December 31, 2021 2020 |
Note 5 - Intangible Assets and
Note 5 - Intangible Assets and Goodwill | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Goodwill and Intangible Assets Disclosure [Text Block] | 5. I NTANGIBLE SSETS AND OODWILL In 2021, 350, not not December 31, 2021. no not 3 Intangible Assets Goodwill Balance at January 1, 2020, net $ 1,467,000 $ 781,000 Amortization and foreign exchange (109,000 ) -- Balance at December 31, 2020, net $ 1,358,000 $ 781,000 Amortization and foreign exchange (40,000 ) -- Balance at December 31, 2021, net $ 1,318,000 $ 781,000 Intangible assets consist of the following based on the Company’s determination of the fair value of identifiable assets acquired: As of December 31, 2021 Weighted Average Amortization Period (in Years) Gross Carrying Amount Accumulated Amortization Impairment Net Trade names 3 $ 52,000 $ 52,000 $ -- $ -- Developed technology 10 318,000 143,000 -- 175,000 Licenses 7 418,000 418,000 -- -- Device registration 7 78,000 78,000 -- -- Customer relationships 3 425,000 425,000 -- -- Amortizable intangible assets $ 1,291,000 $ 1,116,000 -- $ 175,000 In process technology 1,143,000 -- -- 1,143,000 Total $ 2,434,000 $ 1,116,000 $ -- $ 1,318,000 As of December 31, 2020 Weighted Average Amortization Period (in Years) Gross Carrying Amount Accumulated Amortization Impairment Net Trade names 3 $ 52,000 $ 52,000 $ -- $ -- Developed technology 10 318,000 111,000 -- 207,000 Licenses 7 432,000 424,000 -- 8,000 Device registration 7 66,000 66,000 -- -- Customer relationships 3 442,000 442,000 -- -- Amortizable intangible assets 1,310,000 1,095,000 -- 215,000 In process technology 1,143,000 -- -- 1,143,000 Total $ 2,453,000 $ 1,095,000 $ -- $ 1,358,000 The change in the gross carrying amount is due to foreign currency exchange fluctuations. In process technology has not not Year Ended December 31, 2022 32,000 2023 32,000 2024 32,000 2025 32,000 Thereafter 47,000 Total $ 175,000 |
Note 6 - Related Party Transact
Note 6 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | 6. R ELATED ARTY RANSACTIONS HealthBanks Biotech (USA) Inc. On November 26, 2019 Between November 26, 2019 September 30, 2020, In March 2021, none no As of December 31, 2021, December 31, 2021, $666,000; Convertible Promissory Note and Revolving Credit Agreement In March 2017, March 6, 2022 ( December 31, 2020, March 4, 2022, one March 6, 2023. The Credit Agreement and the Convertible Promissory Note issued thereunder (as amended, the “Note”) provide that the principal and all accrued and unpaid interest under the Loan will be due and payable on the Maturity Date, with payments of interest-only due on the last day of each calendar year. The Loan bears interest at 22% per annum, simple interest. The Company has five The Credit Agreement includes a down-round provision that lowers the conversion price of the Note if the Company issues shares of common stock at a lower price per share. At December 31, 2021, The following summarizes the Note: Maturity Date Stated Interest Rate Conversion Price Face Value Remaining Debt Discount Carrying Value At December 31, 2021 3/6/2022 22 % $ 1.80 $ 10,000,000 $ (755,000 ) $ 9,245,000 At December 31, 2020 3/6/2022 22 % $ 1.80 $ 10,000,000 $ (4,065,000 ) $ 5,935,000 The Company amortized $3,310,000 and $2,931,000 of debt discount to interest expense for the years ended December 31, 2021 2020, December 31, 2021 2020, December 31, 2021 December 31, 2020 |
Note 7 - Convertible Promissory
Note 7 - Convertible Promissory Note | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 7. C ONVERTIBLE ROMISSORY OTE July 2019 On July 23, 2019, “July 2019 July 2019 July 2019 twenty-four July 2019 three July 31, 2022. The following summarizes the July 2019 Maturity Date Stated Interest Rate Conversion Price Face Value Remaining Debt Discount Carrying Value At December 31, 2021 7/31/2022 24 % $ 1.80 $ 1,000,000 $ (187,000 ) $ 813,000 At December 31, 2020 7/31/2022 24 % $ 1.80 $ 1,000,000 $ (507,000 ) $ 493,000 The Company recorded amortization expense for the debt discount on the July 2019 December 31, 2021 2020, July 2019 December 31, 2021 2020. |
Note 8 - Paycheck Protection Pr
Note 8 - Paycheck Protection Program | 12 Months Ended |
Dec. 31, 2021 | |
Paycheck Protection Program CARES Act [Member] | |
Notes to Financial Statements | |
Long-term Debt [Text Block] | 8. P AYCHECK ROTECTION ROGRAM On April 21, 2020, two 1.00% first six may may December 2020, March 30, 2021 December 31, 2021, |
Note 9 - Leases
Note 9 - Leases | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 9. L EASES The Company leases an approximately 28,000 square foot facility located in Rancho Cordova, California for its corporate offices and in-house manufacturing. The lease was renewed in the first 2019 May 2024. Operating Leases Operating lease assets and liabilities are recognized at the lease commencement date. Operating lease liabilities represent the present value of lease payments not not The following summarizes the Company’s operating leases: December 31, 2021 December 31, 2020 Right-of-use operating lease assets, net $ 571,000 $ 730,000 Current lease liability (included in other current liabilities) 206,000 157,000 Non-current lease liability 398,000 604,000 Weighted average remaining lease term 2.4 3.4 Discount rate 22 % 22 % Maturities of lease liabilities by year for our operating leases are as follows: 2022 319,000 2023 328,000 2024 139,000 Total lease payments $ 786,000 Less: imputed interest (182,000 ) Present value of operating lease liabilities $ 604,000 Operating Lease Costs Lease costs recognized in consolidated statements of operations are summarized below: December 31, 2021 2020 Operating lease cost $ 311,000 $ 311,000 Variable lease cost 105,000 139,000 Total lease cost $ 416,000 $ 450,000 Statement of Cash Flows In January 2019, December 31, 2021 2020, Finance Leases Finance leases are included in equipment and other current and non-current liabilities on the condensed consolidated balance sheet. The amortization and interest expense are included in general and administrative expense and interest expense, respectively on the statement of operations. These leases were not December 31, 2021 2020. |
Note 10 - Warranty
Note 10 - Warranty | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Product Warranty Disclosure [Text Block] | 10. W ARRANTY The Company offers a warranty on all of its non-disposable products of one two three The warranty liability is included in other current liabilities in the consolidated balance sheets. Changes in the Company’s warranty reserve, which is included in other current liabilities in the accompanying consolidated balance sheet is as follows: Year Ended December 31, 2021 2020 Beginning balance $ 154,000 $ 277,000 Warranties originated during the year 65,000 71,000 Claims settled made during the year (149,000 ) (212,000 ) Changes in reserve estimate (3,000 ) 18,000 Ending balance $ 67,000 $ 154,000 |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | 11. C OMMITMENTS AND ONTENGIENCES Financial Covenants On July 13, 2020, #2 July 13, 2020 ( May 15, 2017 #1 March 16, 2020 one December 31, 2021. Potential Severance Payments We have entered into an employment agreement with the Company Chief Executive Officer under which payment and benefits would become payable in the event of termination by us for any reason other than cause, or upon a change in control of our Company, or by the employee for good reason. Contingencies In the normal course of operations, the Company may December 31, 2021, may not |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 12. S TOCKHOLDERS ’ E QUITY Common Stock On March 25, 2020, three On December 13, 2019, may May 19, 2020 December 31, 2020, Warrants A summary of warrant activity is as follows: Number of Shares Weighted- Average Exercise Price Per Share Weighted-Average Remaining Contract Term Balance at January 1, 2020 1,716,066 $ 25.23 1.57 Warrants granted – $ – Warrants exercised (599,582 ) $ 2.81 Warrants expired/canceled – $ – Outstanding at December 31, 2020 1,116,484 $ 37.27 0.49 Exercisable at December 31, 2020 1,046,631 $ 34.42 0.54 Balance at January 1, 2021 1,116,484 $ 37.27 0.49 Warrants granted – $ – Warrants exercised – $ – Warrants expired/canceled (463,236 ) $ 80 Outstanding and Exercisable at December 31, 2021 653,248 $ 6.97 1.4 Equity Plans and Agreements The Amended 2016 2016 May 2017, may June 22, 2018, 2016 may May 30, 2019, 2016 may 132,500 December 31, 2021, 2016 On December 29, 2017, 2017 December 29, 2017. December 31, 2021. Stock Based Compensation The Company recorded stock-based compensation of $2,560,000 for the year ended December 31, 2021 December 31, 2020, Year Ended December 31, 2021 2020 Cost of revenues $ 17,000 $ 9,000 Selling, general and administrative 2,275,000 757,000 Research and development 268,000 114,000 $ 2,560,000 $ 880,000 On June 4, 2020, May 2021, five No December 31, 2021. Stock Options The Company issues new shares of common stock upon exercise of stock options. The following is a summary of option activity for the Company’s stock option plans: Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at January 1, 2021 889,636 $ 8.57 8.7 $ -- Granted -- Expired (766 ) $ 272.21 $ -- Forfeited/cancelled (535,450 ) $ 5.89 $ -- Outstanding at December 31, 2021 353,420 $ 12.04 6.8 $ -- Vested and Expected to Vest at December 31, 2021 326,596 $ 12.46 6.7 $ -- Exercisable at December 31, 2021 279,520 $ 13.29 6.6 $ -- The aggregate intrinsic value is calculated as the difference between the exercise price of the underlying awards and the quoted price of the Company’s common stock. Non-vested stock option activity for the year ended December 31, 2021, Non-vested Stock Options Weighted-Average Grant Date Fair Value Outstanding at January 1, 2021 658,800 $ 5.25 Granted -- Vested (61,400 ) $ 6.18 Cancelled/forfeited (523,500 ) $ 5.05 Outstanding at December 31, 2021 73,900 $ 5.94 The fair value of the Company’s stock options granted for the year ended December 31, 2020 Year Ended December 31, 2020 Expected life (years) 6 Expected volatility 116 % Risk-free interest rate 0.54 % Dividend yield 0 % The weighted average grant date fair value of options granted during the year ended December 31, 2020 At December 31, 2021, not one Net Loss Per Share Net loss per share is computed by dividing the net loss by the weighted average number of common shares outstanding. The calculation of the basic and diluted earnings per share is the same for all periods presented, as the effect of the potential common stock equivalents noted below is anti-dilutive due to the Company’s net loss position for all periods presented. Anti-dilutive securities consisted of the following at December 31: 2021 2020 Common stock equivalents of convertible promissory notes and accrued interest 7,960,811 7,300,897 Vested Series A warrants -- 40,441 Unvested Series A warrants (1) -- 69,853 Warrants – other 653,248 1,006,190 Stock options 326,596 889,636 Total 8,940,655 9,307,017 ( 1 The unvested Series A warrants were subject to vesting based upon the amount of funds actually received by the Company in the second August 2015 February 2021. |
Note 13 - Revenues
Note 13 - Revenues | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 13. R EVENUES The Company’s revenues consistent primarily of device sales and service revenue. Device Sales Device sales include devices and consumables for BioArchive, AXP, Service Revenue Service revenue principally consists of maintenance contracts for BioArchive, AXP and CAR-TXpress products. Devices sold have warranty periods of one two Revenue is recognized based on the following five 606, Revenues are recorded net of discounts. Shipping and handling fees billed to customers are included in net revenues, while the related costs are included in cost of revenues. Most sales are made with FOB origin shipping terms, with title and control of the goods passing to the customer at the time of shipment. Payments from domestic customers are normally due in two may 120 no Generally, all sales are contract sales (with either an underlying contract or purchase order). The Company does not Except for limited exceptions, there is no no not may not The following table summarizes the revenues by product line and type: Year Ended December 31, 2021 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 4,940,000 $ 198,000 $ -- $ 5,138,000 BioArchive 827,000 1,518,000 -- 2,345,000 CAR-TXpress 875,000 123,000 286,000 1,284,000 Manual Disposables 421,000 -- -- 421,000 Other 65,000 -- 41,000 106,000 Total $ 7,128,000 $ 1,839,000 $ 327,000 $ 9,294,000 Year Ended December 31, 2020 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 4,774,000 $ 160,000 $ -- $ 4,934,000 BioArchive 855,000 1,177,000 -- 2,032,000 CAR-TXpress 1,471,000 71,000 286,000 1,828,000 Manual Disposables 599,000 -- -- 599,000 Other 289,000 -- 62,000 351,000 Total $ 7,988,000 $ 1,408,000 $ 348,000 $ 9,744,000 Contract Balances Generally, all sales are contract sales (with either an underlying contract or purchase order). The Company does not December 31, 2021 2020 December 31, 2021 2020, December 31, 2021 2020, . Exclusivity Fee In 2019, five two two four X December 31, 2021 2020. Distribution Agreement The Company signed a new agreement with its AXP distributor in China through 2023. December 31, 2021, five December 31, 2021, Backlog of Remaining Customer Performance Obligations The following table represents revenue expected to be recognized in the future from the backlog of performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period: 2022 2023 2024 2025 2026 and beyond Total Service revenue $ 927,000 $ 462,000 $ 189,000 $ 86,000 $ -- $ 1,664,000 Device revenue (1) 732,000 732,000 41,000 -- -- 1,505,000 Exclusivity fee 286,000 286,000 286,000 286,000 190,000 1,334,000 Clinical revenue 13,000 13,000 13,000 13,000 147,000 199,000 Total $ 1,958,000 $ 1,493,000 $ 529,000 $ 385,000 $ 337,000 $ 4,702,000 ( 1 Represents the minimum purchase requirements under the distribution agreement the Company signed with its AXP distributor in China. |
Note 14 - Concentrations
Note 14 - Concentrations | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 14. C ONCENTRATIONS The Company had accounts receivable balances or revenues in excess of 10% December 31, 2021 2020 Accounts Receivable 2021 2020 Customer 1 $ 206,000 13 % $ 531,000 38 % Customer 2 $ 200,000 13 % $ 337,000 24 % Customer 3 -- -- $ 139,000 10 % Revenues 2021 2020 Customer 1 $ 2,180,000 23 % $ 2,646,000 27 % Customer 2 1,373,000 15 % $ 938,000 10 % Customer 3 $ 809,000 9 % $ 1,293,000 13 % One supplier accounted for 71% and 40% of total inventory purchases during the years ended December 31, 2021 2020, For the year ended December 31, 2021, December 31, 2020. The Company has a contract manufacturer in Costa Rica that produces certain disposables. The Company’s equipment and leasehold improvements, net of accumulated depreciation, is summarized below by geographic area: Year Ended December 31, 2021 2020 United States $ 647,000 $ 810,000 Costa Rica 292,000 390,000 India 139,000 169,000 All other countries 183,000 55,000 Total equipment, net $ 1,261,000 $ 1,424,000 |
Note 15 - Employee Retention Ta
Note 15 - Employee Retention Tax Credit | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Retirement Benefits [Text Block] | 15. E MPLOYEE RETENTION AX REDIT Employee Retention Tax Credits (“ERTC”), created in the March 2020 2021 2021, 19 70% January 1, 2021 September 30, 2021. $10,000 2021 $7,000 The Company is eligible to receive the ERTC credits under the gross receipts decline test when comparing the first, second third 2021 2019, first three 2021 first three 2021, December 31, 2021, December 31, 2021. |
Note 16 - Income Taxes
Note 16 - Income Taxes | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | 16. I NCOME AXES Loss before income tax benefits was comprised of $11,850,000 from US and $30,000 from foreign jurisdictions for the year ended December 31, 2021 December 31, 2020. The reconciliation of federal income tax attributable to operations computed at the federal statutory tax rate to income tax benefit is as follows for the: Year Ended December 31, 2021 2020 Statutory federal income tax benefit $ (2,495,000 ) $ (3,530,000 ) Intangible assets -- 69,000 PPP loan forgiveness (137,000 ) -- Incentive stock options 257,000 56,000 Change in valuation allowance (72,000 ) 197,000 Expiration of net operating losses 1,242,000 1,558,000 Disallowed financing costs 1,282,000 1,619,000 State and local taxes (195,000 ) (31,000 ) Foreign rate differential 26,000 13,000 Other 92,000 49,000 Total income tax expense $ -- $ -- At December 31, 2021, 2037 may 2041. may 2029. At December 31, 2021, 2022 2041, not 2031 2032. Significant components of the Company’s deferred tax assets and liabilities for federal and state income taxes are as follows: Year Ended December 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 27,088,000 $ 27,312,000 Income tax credit carryforwards 2,797,000 2,852,000 Stock compensation 437,000 369,000 Lease obligation 127,000 160,000 Deferred revenue 313,000 366,000 Inventory reserve 449,000 234,000 Other 213,000 268,000 Total deferred tax assets 31,424,000 31,561,000 Deferred tax liabilities Depreciation and amortization (320,000 ) (352,000 ) Lease asset (120,000 ) (153,000 ) Total deferred tax liabilities (440,000 ) (505,000 ) Valuation allowance (30,984,000 ) (31,056,000 ) Net deferred taxes $ -- $ -- ASC 740 not." not The valuation allowance decreased by $72,000 and increased by $197,000 during the years ended December 31, 2021 2020, In August 2016, 1986. may 2016 2016 2021. On March 27, 2020, 163 1986, 2019 2020 168 2018, 2019, 2020 five December 31, 2020, 2021 not 2021. On June 29, 2020, AB85 2020 2022. 2021, not |
Note 17 - Employee Retirement P
Note 17 - Employee Retirement Plan | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Defined Contribution Plan [Text Block] | 17. E MPLOYEE ETIREMENT LAN 401 The Company provides a retirement plan, in accordance with Section 401 may December 31, 2021 2020, |
Note 18 - Subsequent Events
Note 18 - Subsequent Events | 12 Months Ended |
Dec. 31, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 18. S UBSEQUENT VENTS On February 3, 2022, No. 2 may No. 2 August 9, 2022 December 31, 2021, February 28, 2022. On March 4, 2022, No. 1 No. 2 March 6, 2023, March 6, 2022 March 6, 2022. March 6, 2022, December 31 st March 6, 2023. On March 24, 2022, third one Also on March 4, 2022, Z3 12 2022 April 1, 2022 September 30, 2027, |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (U.S. GAAP). |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The consolidated financial statements include the accounts of ThermoGenesis Holdings, Inc. and its wholly-owned subsidiaries, ThermoGenesis Corp. and TotipotentRX Cell Therapy, Pvt. Ltd and ThermoGenesis Corp’s majority-owned subsidiary, CARTXpress Bio. All significant intercompany accounts and transactions have been eliminated upon consolidation. |
Consolidation, Subsidiaries or Other Investments, Consolidated Entities, Policy [Policy Text Block] | Non-controlling Interests The 20% ownership interest of CARTXpress Bio that is not |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates Preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used for, but not |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Revenue is recognized based on the following five 606, 13. |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three may December 31, 2021 2020 not |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency Translation The Company’s reporting currency is the US dollar. The functional currency of the Company’s subsidiary in India is the Indian rupee (“INR”). Assets and liabilities are translated into US dollars at period end exchange rates. Revenue and expenses are translated at average rates of exchange prevailing during the periods presented. Cash flows are also translated at average exchange rates for the period, therefore, amounts reported on the consolidated statement of cash flows do not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill, Intangible Assets and Impairment Assessments Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Intangible assets that are not three ten For goodwill and indefinite-lived intangible assets, the carrying amounts are periodically reviewed for impairment (at least annually) and whenever events or changes in circumstances indicate that the carrying value of these assets may not 350 , Intangibles-Goodwill and Other not 50 |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Value of Financial Instruments In accordance with ASC 820, Fair Value Measurements and Disclosures The guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company’s assumptions about the factors that market participants would use in valuing the asset or liability. The guidance establishes three may Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Other observable inputs other than Level 1 not Level 3: Unobservable inputs reflecting the reporting entity’s own assumptions. The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to their short duration. |
Receivable [Policy Text Block] | Accounts Receivable and Allowance for Doubtful Accounts The Company’s receivables are recorded when billed and represent claims against third may |
Inventory, Policy [Policy Text Block] | Inventories Inventories are stated at the lower of cost or net realizable value and include the cost of material, labor and manufacturing overhead. Cost is determined on the first first not At times, the Company will purchase inventories in larger quantities to obtain volume purchase discounts. In some cases, purchases may not December 31, 2021 December 31, 2020, |
Property, Plant and Equipment, Policy [Policy Text Block] | Equipment and Leasehold Improvements Equipment consisting of machinery and equipment, computers and software, office equipment and leasehold improvements is recorded at cost less accumulated depreciation. Repairs and maintenance costs are expensed as incurred. Depreciation for machinery and equipment, computers and software and office furniture is computed under the straight-line method over the estimated useful lives. Leasehold improvements are amortized under the straight-line method over their estimated useful lives or the remaining lease period, whichever is shorter. When equipment and leasehold improvements are sold or otherwise disposed of, the asset account and related accumulated depreciation account are relieved, and the impact of any resulting gain or loss is recognized within general and administrative expenses in the consolidated statement of operations for the period. |
Standard Product Warranty, Policy [Policy Text Block] | Warranty We provide for the estimated cost of product warranties at the time revenue is recognized. While we engage in extensive product quality programs and processes, including actively monitoring and evaluating the quality of our component suppliers, our warranty obligation is affected by product failure rates, material usage and service delivery costs incurred in correcting a product failure. Should actual product failure rates, material usage or service delivery costs differ from our estimates, revisions to the estimated warranty liability could have a material impact on our financial position, cash flows or results of operations. |
Debt, Policy [Policy Text Block] | Debt Discount and Issue Costs The Company amortizes debt discount and debt issue costs over the life of the associated debt instrument, using the straight-line method which approximates the interest rate method. |
Share-based Payment Arrangement [Policy Text Block] | Stock-Based Compensation We use the Black-Scholes-Merton option-pricing formula in determining the fair value of our options at the grant date and apply judgment in estimating the key assumptions that are critical to the model such as the expected term, volatility and forfeiture rate of an option. Our estimate of these key assumptions is based on historical information and judgment regarding market factors and trends. If any of the key assumptions change significantly, stock-based compensation expense for new awards may The Company has three Note 12 Valuation and Amortization Method – The Company estimates the fair value of stock options granted using the Black-Scholes-Merton option-pricing formula. This fair value is then amortized on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period. The formula does not not Expected Term – For options which the Company has limited available data, the expected term of the option is based on the simplified method. This simplified method averages an award’s vesting term and its contractual term. For all other options, the Company's expected term represents the period that the Company's stock-based awards are expected to be outstanding and was determined based on historical experience of similar awards, giving consideration to the contractual terms of the stock-based awards, vesting schedules and expectations of future employee behavior. Expected Volatility – Expected volatility is based on historical volatility. Historical volatility is computed using daily pricing observations for recent periods that correspond to the expected term of the options. Expected Dividend – The Company has not not Risk-Free Interest Rate – The Company bases the risk-free interest rate used in the valuation method on the implied yield currently available on U.S. Treasury zero Estimated Forfeitures – When estimating forfeitures, the Company considers voluntary and involuntary termination behavior as well as analysis of actual option forfeitures. |
Research and Development Expense, Policy [Policy Text Block] | Research and Development Research and development costs, consisting of salaries and benefits, costs of disposables, facility costs, contracted services and stock-based compensation from the engineering, regulatory and scientific affairs departments, that are useful in developing and clinically testing new products, services, processes or techniques, as well as expenses for activities that may no |
Business Combinations Policy [Policy Text Block] | Acquired In-Process Research and Development Acquired in-process research and development that the Company acquires through business combinations represents the fair value assigned to incomplete research projects which, at the time of acquisition, have not first not not |
Legal Costs, Policy [Policy Text Block] | Patent Costs The costs incurred in connection with patent applications, in defending and maintaining intellectual property rights and litigation proceedings are expensed as incurred. |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Credit Risk Currently, the Company primarily manufactures and sells cellular processing systems and thermodynamic devices principally to the blood and cellular component processing industry and performs ongoing evaluations of the credit worthiness of the Company’s customers. The Company believes that adequate provisions for uncollectible accounts have been made in the accompanying consolidated financial statements. To date, the Company has not |
Income Tax, Policy [Policy Text Block] | Income Taxes The tax years 2000 2020 no The Company’s estimates of income taxes and the significant items resulting in the recognition of deferred tax assets and liabilities reflect the Company’s assessment of future tax consequences of transactions that have been reflected in the financial statements or tax returns for each taxing jurisdiction in which the Company operates. The Company bases the provision for income taxes on the Company’s current period results of operations, changes in deferred income tax assets and liabilities, income tax rates, and changes in estimates of uncertain tax positions in the jurisdictions in which the Company operates. The Company recognizes deferred tax assets and liabilities when there are temporary differences between the financial reporting basis and tax basis of assets and liabilities and for the expected benefits of using net operating loss and tax credit loss carryforwards. The Company establishes valuation allowances when necessary to reduce the carrying amount of deferred income tax assets to the amounts that the Company believes are more likely than not one may Income tax consequences that arise in connection with a business combination include identifying the tax basis of assets and liabilities acquired and any contingencies associated with uncertain tax positions assumed or resulting from the business combination. Deferred tax assets and liabilities related to temporary differences of an acquired entity are recorded as of the date of the business combination and are based on the Company’s estimate of the appropriate tax basis that will be accepted by the various taxing authorities and its determination as to whether any of the acquired deferred tax liabilities could be a source of taxable income to realize the Company’s pre-existing deferred tax assets. |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassifications did not December 31, 2021, one 14. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Adopted Accounting Standards In December 2019, 2019 12 Income Taxes (Topic 740 2019 12 740 December 15, 2020. not In January 2020, 2020 01, Investments Equity Securities (Topic 321 Equity Method and Joint Ventures (Topic 323 815 321, 323, 815 December 15, 2020, not Recently Issued Accounting Standards In August 2020, 2020 06 Debt-Debt with Conversion and Other Options ( Subtopic 470 20 ) and Derivatives and Hedging Contracts in Entity s Own Equity ( Subtopic 815 40 ): Accounting for Convertible Instruments and Contracts in an Entity s Own Equity, 1 2 3 may December 15, 2021, December 15, 2023, December 15, 2020. not In June 2016, ASU 2016 13, Topic 326 ). 2016 13 December 15, 2022, |
Note 4 - Equipment and Leaseh_2
Note 4 - Equipment and Leasehold Improvements (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | Year Ended December 31, 2021 2020 Estimated Useful Life (in years) Machinery and equipment $ 6,270,000 $ 6,004,000 2.5 - 10 Computer and software 631,000 631,000 2 - 5 Office equipment 256,000 256,000 5 - 10 Leasehold improvements 932,000 932,000 5 years or remaining lease term Total equipment 8,089,000 7,823,000 Less accumulated depreciation (6,828,000 ) (6,399,000 ) Total equipment and leasehold improvements, net $ 1,261,000 $ 1,424,000 |
Note 5 - Intangible Assets an_2
Note 5 - Intangible Assets and Goodwill (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Intangible Assets and Goodwill [Table Text Block] | Intangible Assets Goodwill Balance at January 1, 2020, net $ 1,467,000 $ 781,000 Amortization and foreign exchange (109,000 ) -- Balance at December 31, 2020, net $ 1,358,000 $ 781,000 Amortization and foreign exchange (40,000 ) -- Balance at December 31, 2021, net $ 1,318,000 $ 781,000 |
Schedule of Finite-Lived Intangible Assets [Table Text Block] | As of December 31, 2021 Weighted Average Amortization Period (in Years) Gross Carrying Amount Accumulated Amortization Impairment Net Trade names 3 $ 52,000 $ 52,000 $ -- $ -- Developed technology 10 318,000 143,000 -- 175,000 Licenses 7 418,000 418,000 -- -- Device registration 7 78,000 78,000 -- -- Customer relationships 3 425,000 425,000 -- -- Amortizable intangible assets $ 1,291,000 $ 1,116,000 -- $ 175,000 In process technology 1,143,000 -- -- 1,143,000 Total $ 2,434,000 $ 1,116,000 $ -- $ 1,318,000 As of December 31, 2020 Weighted Average Amortization Period (in Years) Gross Carrying Amount Accumulated Amortization Impairment Net Trade names 3 $ 52,000 $ 52,000 $ -- $ -- Developed technology 10 318,000 111,000 -- 207,000 Licenses 7 432,000 424,000 -- 8,000 Device registration 7 66,000 66,000 -- -- Customer relationships 3 442,000 442,000 -- -- Amortizable intangible assets 1,310,000 1,095,000 -- 215,000 In process technology 1,143,000 -- -- 1,143,000 Total $ 2,453,000 $ 1,095,000 $ -- $ 1,358,000 |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | Year Ended December 31, 2022 32,000 2023 32,000 2024 32,000 2025 32,000 Thereafter 47,000 Total $ 175,000 |
Note 6 - Related Party Transa_2
Note 6 - Related Party Transactions (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Related Party Transactions [Table Text Block] | Maturity Date Stated Interest Rate Conversion Price Face Value Remaining Debt Discount Carrying Value At December 31, 2021 3/6/2022 22 % $ 1.80 $ 10,000,000 $ (755,000 ) $ 9,245,000 At December 31, 2020 3/6/2022 22 % $ 1.80 $ 10,000,000 $ (4,065,000 ) $ 5,935,000 |
Note 7 - Convertible Promisso_2
Note 7 - Convertible Promissory Note (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Convertible Debt [Table Text Block] | Maturity Date Stated Interest Rate Conversion Price Face Value Remaining Debt Discount Carrying Value At December 31, 2021 7/31/2022 24 % $ 1.80 $ 1,000,000 $ (187,000 ) $ 813,000 At December 31, 2020 7/31/2022 24 % $ 1.80 $ 1,000,000 $ (507,000 ) $ 493,000 |
Note 9 - Leases (Tables)
Note 9 - Leases (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Lease, Cost [Table Text Block] | December 31, 2021 December 31, 2020 Right-of-use operating lease assets, net $ 571,000 $ 730,000 Current lease liability (included in other current liabilities) 206,000 157,000 Non-current lease liability 398,000 604,000 Weighted average remaining lease term 2.4 3.4 Discount rate 22 % 22 % December 31, 2021 2020 Operating lease cost $ 311,000 $ 311,000 Variable lease cost 105,000 139,000 Total lease cost $ 416,000 $ 450,000 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2022 319,000 2023 328,000 2024 139,000 Total lease payments $ 786,000 Less: imputed interest (182,000 ) Present value of operating lease liabilities $ 604,000 |
Note 10 - Warranty (Tables)
Note 10 - Warranty (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Product Warranty Liability [Table Text Block] | Year Ended December 31, 2021 2020 Beginning balance $ 154,000 $ 277,000 Warranties originated during the year 65,000 71,000 Claims settled made during the year (149,000 ) (212,000 ) Changes in reserve estimate (3,000 ) 18,000 Ending balance $ 67,000 $ 154,000 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block] | Number of Shares Weighted- Average Exercise Price Per Share Weighted-Average Remaining Contract Term Balance at January 1, 2020 1,716,066 $ 25.23 1.57 Warrants granted – $ – Warrants exercised (599,582 ) $ 2.81 Warrants expired/canceled – $ – Outstanding at December 31, 2020 1,116,484 $ 37.27 0.49 Exercisable at December 31, 2020 1,046,631 $ 34.42 0.54 Balance at January 1, 2021 1,116,484 $ 37.27 0.49 Warrants granted – $ – Warrants exercised – $ – Warrants expired/canceled (463,236 ) $ 80 Outstanding and Exercisable at December 31, 2021 653,248 $ 6.97 1.4 |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Year Ended December 31, 2021 2020 Cost of revenues $ 17,000 $ 9,000 Selling, general and administrative 2,275,000 757,000 Research and development 268,000 114,000 $ 2,560,000 $ 880,000 |
Share-based Payment Arrangement, Option, Activity [Table Text Block] | Number of Shares Weighted- Average Exercise Price Weighted- Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at January 1, 2021 889,636 $ 8.57 8.7 $ -- Granted -- Expired (766 ) $ 272.21 $ -- Forfeited/cancelled (535,450 ) $ 5.89 $ -- Outstanding at December 31, 2021 353,420 $ 12.04 6.8 $ -- Vested and Expected to Vest at December 31, 2021 326,596 $ 12.46 6.7 $ -- Exercisable at December 31, 2021 279,520 $ 13.29 6.6 $ -- |
Non Vested Stock Options Activity [Table Text Block] | Non-vested Stock Options Weighted-Average Grant Date Fair Value Outstanding at January 1, 2021 658,800 $ 5.25 Granted -- Vested (61,400 ) $ 6.18 Cancelled/forfeited (523,500 ) $ 5.05 Outstanding at December 31, 2021 73,900 $ 5.94 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | Year Ended December 31, 2020 Expected life (years) 6 Expected volatility 116 % Risk-free interest rate 0.54 % Dividend yield 0 % |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | 2021 2020 Common stock equivalents of convertible promissory notes and accrued interest 7,960,811 7,300,897 Vested Series A warrants -- 40,441 Unvested Series A warrants (1) -- 69,853 Warrants – other 653,248 1,006,190 Stock options 326,596 889,636 Total 8,940,655 9,307,017 |
Note 13 - Revenues (Tables)
Note 13 - Revenues (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | Year Ended December 31, 2021 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 4,940,000 $ 198,000 $ -- $ 5,138,000 BioArchive 827,000 1,518,000 -- 2,345,000 CAR-TXpress 875,000 123,000 286,000 1,284,000 Manual Disposables 421,000 -- -- 421,000 Other 65,000 -- 41,000 106,000 Total $ 7,128,000 $ 1,839,000 $ 327,000 $ 9,294,000 Year Ended December 31, 2020 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 4,774,000 $ 160,000 $ -- $ 4,934,000 BioArchive 855,000 1,177,000 -- 2,032,000 CAR-TXpress 1,471,000 71,000 286,000 1,828,000 Manual Disposables 599,000 -- -- 599,000 Other 289,000 -- 62,000 351,000 Total $ 7,988,000 $ 1,408,000 $ 348,000 $ 9,744,000 |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block] | 2022 2023 2024 2025 2026 and beyond Total Service revenue $ 927,000 $ 462,000 $ 189,000 $ 86,000 $ -- $ 1,664,000 Device revenue (1) 732,000 732,000 41,000 -- -- 1,505,000 Exclusivity fee 286,000 286,000 286,000 286,000 190,000 1,334,000 Clinical revenue 13,000 13,000 13,000 13,000 147,000 199,000 Total $ 1,958,000 $ 1,493,000 $ 529,000 $ 385,000 $ 337,000 $ 4,702,000 |
Note 14 - Concentrations (Table
Note 14 - Concentrations (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedules of Concentration of Risk, by Risk Factor [Table Text Block] | Accounts Receivable 2021 2020 Customer 1 $ 206,000 13 % $ 531,000 38 % Customer 2 $ 200,000 13 % $ 337,000 24 % Customer 3 -- -- $ 139,000 10 % Revenues 2021 2020 Customer 1 $ 2,180,000 23 % $ 2,646,000 27 % Customer 2 1,373,000 15 % $ 938,000 10 % Customer 3 $ 809,000 9 % $ 1,293,000 13 % |
Schedule of Disclosure on Geographic Areas, Long-Lived Assets in Individual Foreign Countries by Country [Table Text Block] | Year Ended December 31, 2021 2020 United States $ 647,000 $ 810,000 Costa Rica 292,000 390,000 India 139,000 169,000 All other countries 183,000 55,000 Total equipment, net $ 1,261,000 $ 1,424,000 |
Note 16 - Income Taxes (Tables)
Note 16 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2021 | |
Notes Tables | |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | Year Ended December 31, 2021 2020 Statutory federal income tax benefit $ (2,495,000 ) $ (3,530,000 ) Intangible assets -- 69,000 PPP loan forgiveness (137,000 ) -- Incentive stock options 257,000 56,000 Change in valuation allowance (72,000 ) 197,000 Expiration of net operating losses 1,242,000 1,558,000 Disallowed financing costs 1,282,000 1,619,000 State and local taxes (195,000 ) (31,000 ) Foreign rate differential 26,000 13,000 Other 92,000 49,000 Total income tax expense $ -- $ -- |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | Year Ended December 31, 2021 2020 Deferred tax assets: Net operating loss carryforwards $ 27,088,000 $ 27,312,000 Income tax credit carryforwards 2,797,000 2,852,000 Stock compensation 437,000 369,000 Lease obligation 127,000 160,000 Deferred revenue 313,000 366,000 Inventory reserve 449,000 234,000 Other 213,000 268,000 Total deferred tax assets 31,424,000 31,561,000 Deferred tax liabilities Depreciation and amortization (320,000 ) (352,000 ) Lease asset (120,000 ) (153,000 ) Total deferred tax liabilities (440,000 ) (505,000 ) Valuation allowance (30,984,000 ) (31,056,000 ) Net deferred taxes $ -- $ -- |
Note 2 - Going Concern (Details
Note 2 - Going Concern (Details Textual) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 7,280,000 | $ 7,161,000 |
Working Capital | $ 8,616,000 |
Note 3 - Summary of Significa_2
Note 3 - Summary of Significant Accounting Policies (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 7,280,000 | $ 7,161,000 |
Inventory, Noncurrent, Total | 1,709,000 | 1,221,000 |
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Expected Dividend Payments | 0 | |
Income Tax Examination, Penalties and Interest Accrued, Total | 0 | |
Unrecognized Tax Benefits, Ending Balance | 0 | |
INDIA | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 87,000 | $ 83,000 |
CAR-TXpress [Member] | ||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 20.00% | |
Noncontrolling Interest, Ownership Percentage by Parent | 80.00% |
Note 4 - Equipment and Leaseh_3
Note 4 - Equipment and Leasehold Improvements (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Depreciation, Total | $ 429,000 | $ 516,000 |
Note 5 - Equipment and Leasehol
Note 5 - Equipment and Leasehold Improvements, Net - Summary of Property, Plant, and Equipment (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Property, Plant, and Equipment, Gross | $ 8,089,000 | $ 7,823,000 |
Less accumulated depreciation | (6,828,000) | (6,399,000) |
Total equipment and leasehold improvements, net | 1,261,000 | 1,424,000 |
Machinery and Equipment [Member] | ||
Property, Plant, and Equipment, Gross | $ 6,270,000 | 6,004,000 |
Machinery and Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 2 years 6 months | |
Machinery and Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 10 years | |
Computer and Software [Member] | ||
Property, Plant, and Equipment, Gross | $ 631,000 | 631,000 |
Computer and Software [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 2 years | |
Computer and Software [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |
Office Equipment [Member] | ||
Property, Plant, and Equipment, Gross | $ 256,000 | 256,000 |
Office Equipment [Member] | Minimum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | |
Office Equipment [Member] | Maximum [Member] | ||
Property, Plant and Equipment, Useful Life (Year) | 10 years | |
Leasehold Improvements [Member] | ||
Property, Plant, and Equipment, Gross | $ 932,000 | $ 932,000 |
Leasehold Improvements, Estimated Useful Life | 5 years or remaining lease term |
Note 5 - Intangible Assets an_3
Note 5 - Intangible Assets and Goodwill - Goodwill and Intangible Assets (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Intangible assets, net | $ 1,358,000 | $ 1,467,000 |
Goodwill | 781,000 | 781,000 |
Intangible assets, amortization and foreign exchange | (40,000) | (109,000) |
Intangible assets, net | 1,318,000 | 1,358,000 |
Goodwill | $ 781,000 | $ 781,000 |
Note 5 - Intangible Assets an_4
Note 5 - Intangible Assets and Goodwill - Summary of Intangible Assets (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Gross Carrying Amount | $ 1,291,000 | $ 1,310,000 | |
Accumulated Amortization | 1,116,000 | 1,095,000 | |
Net | 175,000 | 215,000 | |
Gross Carrying Amount | 2,434,000 | 2,453,000 | |
Net | 1,318,000 | 1,358,000 | $ 1,467,000 |
In Process Techonology [Member] | |||
Gross Carrying Amount | 1,143,000 | 1,143,000 | |
Net | $ 1,143,000 | $ 1,143,000 | |
Trade Names [Member] | |||
Weighted Average Amortization Period (Year) | 3 years | 3 years | |
Gross Carrying Amount | $ 52,000 | $ 52,000 | |
Accumulated Amortization | $ 52,000 | $ 52,000 | |
Developed Technology Rights [Member] | |||
Weighted Average Amortization Period (Year) | 10 years | 10 years | |
Gross Carrying Amount | $ 318,000 | $ 318,000 | |
Accumulated Amortization | 143,000 | 111,000 | |
Net | $ 175,000 | $ 207,000 | |
Licensing Agreements [Member] | |||
Weighted Average Amortization Period (Year) | 7 years | 7 years | |
Gross Carrying Amount | $ 418,000 | $ 432,000 | |
Accumulated Amortization | $ 418,000 | 424,000 | |
Net | $ 8,000 | ||
Device Registration [Member] | |||
Weighted Average Amortization Period (Year) | 7 years | 7 years | |
Gross Carrying Amount | $ 78,000 | $ 66,000 | |
Accumulated Amortization | $ 78,000 | $ 66,000 | |
Customer Relationships [Member] | |||
Weighted Average Amortization Period (Year) | 3 years | 3 years | |
Gross Carrying Amount | $ 425,000 | $ 442,000 | |
Accumulated Amortization | $ 425,000 | $ 442,000 |
Note 5 - Intangible Assets an_5
Note 5 - Intangible Assets and Goodwill - Future Amortization Expense (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
2022 | $ 32,000 | |
2023 | 32,000 | |
2024 | 32,000 | |
2025 | 32,000 | |
Thereafter | 47,000 | |
Total | $ 175,000 | $ 215,000 |
Note 6 - Related Party Transa_3
Note 6 - Related Party Transactions (Details Textual) - USD ($) | 1 Months Ended | 12 Months Ended | ||||
Mar. 31, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | Nov. 26, 2019 | Mar. 31, 2017 | |
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | $ (11,880,000) | $ (16,811,000) | ||||
Assets, Current, Total | 14,964,000 | 15,298,000 | ||||
Liabilities, Current, Total | 6,348,000 | 6,143,000 | ||||
Amortization of Debt Discount (Premium) | $ 3,631,000 | $ 5,558,000 | ||||
Boyalife Asset Holding II [Member] | Convertible Debt [Member] | ||||||
Debt Instrument, Interest Rate, Stated Percentage | 22.00% | 22.00% | ||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 1.80 | $ 1.80 | ||||
Boyalife Asset Holding II [Member] | Revolving Credit Facility [Member] | ||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 10,000,000 | |||||
Long-term Line of Credit, Total | $ 10,000,000 | |||||
Debt Instrument, Interest Rate, Stated Percentage | 22.00% | |||||
Amortization of Debt Discount (Premium) | $ 3,310,000 | 2,931,000 | ||||
Interest Payable | $ 2,231,000 | $ 2,082,000 | ||||
ImmuneCyte and Shangai KDWinfo Technology Co. Ltd. [Member] | Boyalife’s Cellular Therapy Division [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 12,000,000 | |||||
ImmuneCyte [Member] | Boyalife’s Cellular Therapy Division [Member] | ||||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in shares) | 500,000 | |||||
ImmuneCyte [Member] | ||||||
Equity Method Investment, Ownership Percentage | 8.64% | 18.79% | 20.00% | |||
Dilution Gain from Equity Method Investments | $ 262,000 | |||||
Equity Method Investment Accumulated Gain Loss | (428,000) | |||||
Equity Method Investment, Aggregate Cost | 0 | |||||
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total | (666,000) | |||||
Assets, Current, Total | 3,177,000 | |||||
Liabilities, Current, Total | $ 1,946,000 | |||||
ImmuneCyte [Member] | HealthBanks Biotech [Member] | ||||||
Equity Method Investment, Ownership Percentage | 75.16% | 80.00% | ||||
ImmuneCyte [Member] | Private Institution [Member] | ||||||
Equity Method Investment, Ownership Percentage | 6.05% |
Note 6 - Related Party Transa_4
Note 6 - Related Party Transactions - Summarizes the Note (Details) - Boyalife Asset Holding II [Member] - Convertible Debt [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Debt Instrument, Maturity Date | Mar. 6, 2022 | Mar. 6, 2022 |
State interest rate | 22.00% | 22.00% |
Conversion price (in dollars per share) | $ 1.80 | $ 1.80 |
Face value | $ 10,000,000 | $ 10,000,000 |
Remaining debt discount | (755,000) | (4,065,000) |
Carrying Value | $ 9,245,000 | $ 5,935,000 |
Note 7 - Convertible Promisso_3
Note 7 - Convertible Promissory Note (Details Textual) - USD ($) | Jul. 23, 2019 | Dec. 31, 2021 | Dec. 31, 2020 |
Amortization of Debt Discount (Premium) | $ 3,631,000 | $ 5,558,000 | |
Convertible Debt [Member] | The July 2019 Note [Member] | |||
Debt Instrument, Face Amount | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 |
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 1.80 | $ 1.80 | |
Debt Instrument, Convertible, Threshold Percentage of Stock Price Trigger | 90.00% | ||
Debt Instrument, Interest Rate, Stated Percentage | 24.00% | 24.00% | 24.00% |
Amortization of Debt Discount (Premium) | $ 321,000 | $ 187,000 | |
Interest Expense, Debt, Total | $ 240,000 | $ 240,000 | |
Convertible Debt [Member] | The July 2019 Note [Member] | Maximum [Member] | |||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 1.80 | ||
Convertible Debt [Member] | The July 2019 Note [Member] | Minimum [Member] | |||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 0.50 |
Note 7 - Convertible Promisso_4
Note 7 - Convertible Promissory Note - Convertible Promissory Note (Details) - Convertible Debt [Member] - The July 2019 Note [Member] - USD ($) | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Jul. 23, 2019 | |
Maturity Date | Jul. 31, 2022 | Jul. 31, 2022 | |
Stated Interest Rate | 24.00% | 24.00% | 24.00% |
Conversion Price (in dollars per share) | $ 1.80 | $ 1.80 | |
Face Value | $ 1,000,000 | $ 1,000,000 | $ 1,000,000 |
Remaining debt discount | (187,000) | (507,000) | |
Carrying Value | $ 813,000 | $ 493,000 |
Note 8 - Paycheck Protection _2
Note 8 - Paycheck Protection Program (Details Textual) - USD ($) | Apr. 21, 2020 | Dec. 31, 2021 |
Gain (Loss) on Extinguishment of Debt, Total | $ 652,000 | |
Paycheck Protection Program CARES Act [Member] | ||
Proceeds from Issuance of Long-term Debt, Total | $ 646,000 | |
Gain (Loss) on Extinguishment of Debt, Total | $ 652,000 |
Note 9 - Leases (Details Textua
Note 9 - Leases (Details Textual) | 12 Months Ended | ||
Dec. 31, 2021USD ($)ft² | Dec. 31, 2020USD ($) | Jan. 01, 2019USD ($) | |
Operating Lease, Right-of-Use Asset | $ 571,000 | $ 730,000 | |
Operating Lease, Payments | $ 310,000 | $ 301,000 | |
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | $ 966,000 | ||
Facility Located in Rancho Cordova, California [Member] | |||
Area of Real Estate Property (Square Foot) | ft² | 28,000 |
Note 9 - Leases - Lease Informa
Note 9 - Leases - Lease Information (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Right-of-use operating lease assets, net | $ 571,000 | $ 730,000 |
Non-current lease liability | $ 398,000 | $ 604,000 |
Weighted average remaining lease term (Year) | 2 years 4 months 24 days | 3 years 4 months 24 days |
Discount rate | 22.00% | 22.00% |
Operating lease cost | $ 311,000 | $ 311,000 |
Variable lease cost | 105,000 | 139,000 |
Total lease cost | 416,000 | 450,000 |
Current Liabilities [Member] | ||
Current lease liability (included in other current liabilities) | $ 206,000 | $ 157,000 |
Note 9 - Leases - Maturities of
Note 9 - Leases - Maturities of Lease Liabilities (Details) | Dec. 31, 2021USD ($) |
2022 | $ 319,000 |
2023 | 328,000 |
2024 | 139,000 |
Total lease payments | 786,000 |
Less: imputed interest | (182,000) |
Present value of operating lease liabilities | $ 604,000 |
Note 10 - Warranty (Details Tex
Note 10 - Warranty (Details Textual) | 12 Months Ended |
Dec. 31, 2021 | |
Minimum [Member] | |
Period Of Warranty On Products (Year) | 1 year |
Maximum [Member] | |
Period Of Warranty On Products (Year) | 2 years |
Note 10 - Warranty - Changes in
Note 10 - Warranty - Changes in Product Liability Included in Accrued Liabilities (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Beginning balance | $ 154,000 | $ 277,000 |
Warranties originated during the year | 65,000 | 71,000 |
Claims settled made during the year | (149,000) | (212,000) |
Changes in reserve estimate | (3,000) | 18,000 |
Ending balance | $ 67,000 | $ 154,000 |
Note 11 - Commitments and Con_2
Note 11 - Commitments and Contingencies (Details Textual) | Jul. 13, 2020USD ($) |
Short Term Investment Minimum | $ 1,000,000 |
Note 12 - Stockholders' Equit_2
Note 12 - Stockholders' Equity (Details Textual) - USD ($) | Jun. 04, 2020 | Mar. 25, 2020 | Dec. 29, 2017 | May 31, 2021 | Jun. 30, 2021 | Dec. 31, 2021 | Dec. 31, 2020 | May 19, 2020 | Dec. 13, 2019 | May 30, 2019 | Jun. 22, 2018 | May 31, 2017 |
Proceeds from Issuance of Common Stock, Net | $ 6,832,000 | $ 10,839,000 | ||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 565,500 | |||||||||||
Share-based Payment Arrangement, Expense | $ 2,560,000 | $ 880,000 | ||||||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 5.94 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares) | 535,450 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Weighted Average Grant Date Fair Value (in dollars per share) | $ 5.05 | |||||||||||
Share-based Payment Arrangement, Option [Member] | ||||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount, Total | $ 262,000 | |||||||||||
Share-based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year) | 1 year | |||||||||||
Executive Officer [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures in Period (in shares) | 490,000 | |||||||||||
Executive Officer [Member] | Share-based Payment Arrangement, Option [Member] | ||||||||||||
Share-based Payment Arrangement, Accelerated Cost | $ 2,008,000 | |||||||||||
Amended 2016 Plan [Member | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 392,500 | 132,500 | 60,000 | |||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 41,386 | |||||||||||
Equity Incentive Plan 2017 [Member] | ||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in shares) | 1,000,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in shares) | 30,000 | |||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 280,000 | |||||||||||
Registered Direct Offering [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 1,000,002 | |||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 3.50 | |||||||||||
Proceeds from Issuance of Common Stock | $ 3,500,000 | |||||||||||
Payments of Stock Issuance Costs | $ 393,000 | |||||||||||
At The Market Offering Agreement [Member] | ||||||||||||
Stock Issued During Period, Shares, New Issues (in shares) | 2,620,652 | |||||||||||
Proceeds from Issuance of Common Stock | $ 8,224,000 | |||||||||||
Payments of Stock Issuance Costs | $ 493,000 | |||||||||||
Maximum Offering Price for Issuance of Common Stock | $ 15,280,313 | $ 4,400,000 | ||||||||||
Shares Issued, Average Price Per Share (in dollars per share) | $ 3.14 | |||||||||||
Proceeds from Issuance of Common Stock, Net | $ 7,731,000 |
Note 12 - Stockholders' Equit_3
Note 12 - Stockholders' Equity - Warrant Activity (Details) - $ / shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | Dec. 31, 2019 | |
Outstanding (in shares) | 1,116,484 | 1,716,066 | |
Outstanding, weighted average exercise price (in dollars per share) | $ 37.27 | $ 25.23 | |
Outstanding, Weighted Average Remaining Contract Term (Year) | 1 year 4 months 24 days | 5 months 26 days | 1 year 6 months 25 days |
Warrants exercised (in shares) | (599,582) | ||
Warrants exercised, weighted average exercise price (in dollars per share) | $ 2.81 | ||
Outstanding (in shares) | 653,248 | 1,116,484 | 1,716,066 |
Outstanding, weighted average exercise price (in dollars per share) | $ 6.97 | $ 37.27 | $ 25.23 |
Exercisable (in shares) | 1,046,631 | ||
Exercisable, weighted average exercise price (in dollars per share) | $ 34.42 | ||
Exercisable, Weighted Average Remaining Contract Term (Year) | 6 months 14 days | ||
Warrants expired/canceled (in shares) | (463,236) | ||
Warrants expired/canceled (in dollars per share) | $ 80 |
Note 12 - Stockholders' Equit_4
Note 12 - Stockholders' Equity - Stock-based Compensation (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Stock-based compensation | $ 2,560,000 | $ 880,000 |
Cost of Sales [Member] | ||
Stock-based compensation | 17,000 | 9,000 |
Selling, General and Administrative Expenses [Member] | ||
Stock-based compensation | 2,275,000 | 757,000 |
Research and Development Expense [Member] | ||
Stock-based compensation | $ 268,000 | $ 114,000 |
Note 12 - Stockholders' Equit_5
Note 12 - Stockholders' Equity - Option Activity for Stock Option Plans (Details) - $ / shares | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Outstanding, options (in shares) | 889,636 | |
Outstanding, weighted average exercise price, options (in dollars per share) | $ 8.57 | |
Outstanding, weighted average remaining contractual life, options (Year) | 6 years 9 months 18 days | 8 years 8 months 12 days |
Expired, options (in shares) | (766) | |
Expired, weighted average exercise price, options (in dollars per share) | $ 272.21 | |
Forfeited/cancelled, options (in shares) | (535,450) | |
Forfeited/cancelled, weighted average exercise price, options (in dollars per share) | $ 5.89 | |
Outstanding, options (in shares) | 353,420 | 889,636 |
Outstanding, weighted average exercise price, options (in dollars per share) | $ 12.04 | $ 8.57 |
Vested and expected to vest, options (in shares) | 326,596 | |
Vested and expected to vest, weighted average exercise price, options (in dollars per share) | $ 12.46 | |
Vested and expected to vest, weighted average remaining contractual life, options (Year) | 6 years 8 months 12 days | |
Exercisable, options (in shares) | 279,520 | |
Exercisable, weighted average exercise price, options (in dollars per share) | $ 13.29 | |
Exercisable, weighted average remaining contractual life, options (Year) | 6 years 7 months 6 days |
Note 12 - Stockholders' Equit_6
Note 12 - Stockholders' Equity - Non-vested Stock Options Activity (Details) | 12 Months Ended |
Dec. 31, 2021$ / sharesshares | |
Outstanding, options (in shares) | 889,636 |
Cancelled/forfeited (in shares) | (535,450) |
Cancelled/forfeited, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 5.89 |
Outstanding, options (in shares) | 353,420 |
Non-vested Stock Options [Member] | |
Outstanding, options (in shares) | 658,800 |
Outstanding, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 5.25 |
Vested (in shares) | (61,400) |
Vested, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 6.18 |
Cancelled/forfeited (in shares) | (523,500) |
Cancelled/forfeited, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 5.05 |
Outstanding, options (in shares) | 73,900 |
Outstanding, Weighted-Average Grant Date Fair Value (in dollars per share) | $ / shares | $ 5.94 |
Note 12 - Stockholders' Equit_7
Note 12 - Stockholders' Equity - Schedule of Assumptions (Details) | 12 Months Ended |
Dec. 31, 2021 | |
Expected life (years) (Year) | 6 years |
Expected volatility | 116.00% |
Risk-free interest rate | 0.54% |
Dividend yield | 0.00% |
Note 12 - Stockholders' Equit_8
Note 12 - Stockholders' Equity - Anti-dilutive Securities (Details) - shares | 12 Months Ended | ||
Dec. 31, 2021 | Dec. 31, 2020 | ||
Anti-dilutive securities (in shares) | 8,940,655 | 9,307,017 | |
Convertible Debt Securities [Member] | |||
Anti-dilutive securities (in shares) | 7,960,811 | 7,300,897 | |
Vested Series A Warrants [Member] | |||
Anti-dilutive securities (in shares) | 40,441 | ||
Unvested Series A Warrants [Member] | |||
Anti-dilutive securities (in shares) | [1] | 69,853 | |
Warrant, Other [Member] | |||
Anti-dilutive securities (in shares) | 653,248 | 1,006,190 | |
Share-based Payment Arrangement, Option [Member] | |||
Anti-dilutive securities (in shares) | 326,596 | 889,636 | |
[1] | The unvested Series A warrants were subject to vesting based upon the amount of funds actually received by the Company in the second close of the August 2015 financing which never occurred. The warrants will remain outstanding but unvested until they expire in February 2021. |
Note 13 - Revenues (Details Tex
Note 13 - Revenues (Details Textual) | Aug. 30, 2019USD ($) | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($) |
Contract with Customer, Liability, Total | $ 608,000 | $ 620,000 | |
Contract with Customer, Liability, Current | 719,000 | 608,000 | |
Contract with Customer, Liability, Noncurrent | 1,244,000 | 1,596,000 | |
Exclusivity Fee [Member] | |||
Contract with Customer, Liability, Total | $ 2,000,000 | ||
Contract with Customer, Liability, Current | 286,000 | $ 286,000 | |
Supply Agreement [Member] | |||
Supply Agreement, Term (Year) | 5 years | ||
Supply Agreement, Renewal Term, Number of Options | 2 | ||
Supply Agreement, Renewal Term, Per Option (Year) | 2 years | ||
Distribution Agreement with AXP Distributor in China [Member] | |||
Lessor, Sales-type Lease, Assumptions and Judgments, Value of Underlying Asset, Amount | $ 170,000 | ||
Property, Plant and Equipment, Useful Life (Year) | 5 years | ||
Proceeds from Customers | $ 41,000 | ||
Minimum [Member] | |||
Period Of Warranty On Products (Year) | 1 year | ||
Maximum [Member] | |||
Period Of Warranty On Products (Year) | 2 years | ||
Maximum [Member] | Supply Agreement [Member] | |||
Supply Agreement, Renewal Term (Year) | 4 years |
Note 13 - Revenues - Revenues (
Note 13 - Revenues - Revenues (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues | $ 9,294,000 | $ 9,744,000 |
Device [Member] | AXP [Member] | ||
Revenues | 5,138,000 | 4,934,000 |
Device [Member] | BioArchive [Member] | ||
Revenues | 2,345,000 | 2,032,000 |
Device [Member] | CAR-TXpress [Member] | ||
Revenues | 1,284,000 | 1,828,000 |
Device [Member] | Manual Disposables [Member] | ||
Revenues | 421,000 | 599,000 |
Device [Member] | Other Subsegments [Member] | ||
Revenues | 106,000 | 351,000 |
Device Revenue [Member] | ||
Revenues | 7,128,000 | 7,988,000 |
Device Revenue [Member] | Device [Member] | AXP [Member] | ||
Revenues | 4,940,000 | 4,774,000 |
Device Revenue [Member] | Device [Member] | BioArchive [Member] | ||
Revenues | 827,000 | 855,000 |
Device Revenue [Member] | Device [Member] | CAR-TXpress [Member] | ||
Revenues | 875,000 | 1,471,000 |
Device Revenue [Member] | Device [Member] | Manual Disposables [Member] | ||
Revenues | 421,000 | 599,000 |
Device Revenue [Member] | Device [Member] | Other Subsegments [Member] | ||
Revenues | 65,000 | 289,000 |
Service [Member] | ||
Revenues | 1,839,000 | 1,408,000 |
Service [Member] | Device [Member] | AXP [Member] | ||
Revenues | 198,000 | 160,000 |
Service [Member] | Device [Member] | BioArchive [Member] | ||
Revenues | 1,518,000 | 1,177,000 |
Service [Member] | Device [Member] | CAR-TXpress [Member] | ||
Revenues | 123,000 | 71,000 |
Other [Member] | ||
Revenues | 327,000 | 348,000 |
Other [Member] | Device [Member] | CAR-TXpress [Member] | ||
Revenues | 286,000 | 286,000 |
Other [Member] | Device [Member] | Other Subsegments [Member] | ||
Revenues | $ 41,000 | $ 62,000 |
Note 13 - Revenues - Remaining
Note 13 - Revenues - Remaining Performance Obligations (Details) | Dec. 31, 2021USD ($) | |
Revenue, Remaining Performance Obligation, Amount | $ 4,702,000 | |
Service [Member] | ||
Revenue, Remaining Performance Obligation, Amount | 1,664,000 | |
Device Revenue [Member] | ||
Revenue, Remaining Performance Obligation, Amount | 1,505,000 | [1] |
Exclusivity Fee [Member] | ||
Revenue, Remaining Performance Obligation, Amount | 1,334,000 | |
Clinical Revenue [Member] | ||
Revenue, Remaining Performance Obligation, Amount | $ 199,000 | |
[1] | Represents the minimum purchase requirements under the distribution agreement the Company signed with its AXP distributor in China. |
Note 13 - Revenues - Remainin_2
Note 13 - Revenues - Remaining Performance Obligations 2 (Details) | Dec. 31, 2021USD ($) | |
Revenue, Remaining Performance Obligation, Amount | $ 4,702,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 1,958,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 1,493,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 529,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 385,000 | |
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 337,000 | |
Service [Member] | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,664,000 | |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 927,000 | |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 462,000 | |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 189,000 | |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 86,000 | |
Service [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Device Revenue [Member] | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,505,000 | [1] |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | [1] |
Revenue, Remaining Performance Obligation, Amount | $ 732,000 | [1] |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | [1] |
Revenue, Remaining Performance Obligation, Amount | $ 732,000 | [1] |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | [1] |
Revenue, Remaining Performance Obligation, Amount | $ 41,000 | [1] |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | [1] |
Device Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | [1] |
Exclusivity Fee [Member] | ||
Revenue, Remaining Performance Obligation, Amount | $ 1,334,000 | |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 286,000 | |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 286,000 | |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 286,000 | |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 286,000 | |
Exclusivity Fee [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 190,000 | |
Clinical Revenue [Member] | ||
Revenue, Remaining Performance Obligation, Amount | $ 199,000 | |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2022-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 13,000 | |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2023-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 13,000 | |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2024-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 13,000 | |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 13,000 | |
Clinical Revenue [Member] | Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01 | ||
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction (Year) | 1 year | |
Revenue, Remaining Performance Obligation, Amount | $ 147,000 | |
[1] | Represents the minimum purchase requirements under the distribution agreement the Company signed with its AXP distributor in China. |
Note 14 - Concentrations (Detai
Note 14 - Concentrations (Details Textual) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Non-US [Member] | ||
Concentration Risk, Percentage | 45.00% | 39.00% |
Supplier 1 [Member] | Supplier Concentration Risk [Member] | Cost of Goods and Service Benchmark [Member] | ||
Concentration Risk, Percentage | 71.00% | 40.00% |
Note 14 - Concentrations - Acco
Note 14 - Concentrations - Accounts Receivables and Revenues (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Revenues | $ 9,294,000 | $ 9,744,000 |
Customer 1 [Member] | ||
Accounts receivable | 206,000 | 531,000 |
Revenues | $ 2,180,000 | $ 2,646,000 |
Customer 1 [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||
Accounts receivable, percent | 13.00% | 38.00% |
Customer 1 [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Accounts receivable, percent | 23.00% | 27.00% |
Customer 2 [Member] | ||
Accounts receivable | $ 200,000 | $ 337,000 |
Revenues | $ 1,373,000 | $ 938,000 |
Customer 2 [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||
Accounts receivable, percent | 13.00% | 24.00% |
Customer 2 [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Accounts receivable, percent | 15.00% | 10.00% |
Customer 3 [Member] | ||
Accounts receivable | $ 139,000 | |
Revenues | $ 809,000 | $ 1,293,000 |
Customer 3 [Member] | Accounts Receivable [Member] | Customer Concentration Risk [Member] | ||
Accounts receivable, percent | 10.00% | |
Customer 3 [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||
Accounts receivable, percent | 9.00% | 13.00% |
Note 14 - Concentrations - Summ
Note 14 - Concentrations - Summary of Net Equipment by Geographic Area (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Property, Plant, and Equipment Concentration | $ 1,261,000 | $ 1,424,000 |
Geographic Concentration Risk [Member] | UNITED STATES | ||
Property, Plant, and Equipment Concentration | 647,000 | 810,000 |
Geographic Concentration Risk [Member] | COSTA RICA | ||
Property, Plant, and Equipment Concentration | 292,000 | 390,000 |
Geographic Concentration Risk [Member] | INDIA | ||
Property, Plant, and Equipment Concentration | 139,000 | 169,000 |
Geographic Concentration Risk [Member] | All Other Countries [Member] | ||
Property, Plant, and Equipment Concentration | $ 183,000 | $ 55,000 |
Note 15 - Employee Retention _2
Note 15 - Employee Retention Tax Credit (Details Textual) | 9 Months Ended |
Sep. 30, 2021USD ($) | |
Employee Retention Tax Credit | $ 842,000 |
Note 16 - Income Taxes (Details
Note 16 - Income Taxes (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Income (Loss) from Continuing Operations before Income Taxes, Domestic | $ (11,850,000) | $ (16,728,000) |
Income (Loss) from Continuing Operations before Income Taxes, Foreign | (30,000) | (83,000) |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (72,000) | $ 197,000 |
Domestic Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | 125,077,000 | |
Operating Loss Carryforwards, Subject to Expiration | 101,805,000 | |
Operating Loss Carryforwards, Not Subject to Expiration | 23,272,000 | |
Domestic Tax Authority [Member] | Research Tax Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | 1,521,000 | |
State and Local Jurisdiction [Member] | ||
Operating Loss Carryforwards, Total | 60,984,000 | |
State and Local Jurisdiction [Member] | Research Tax Credit Carryforward [Member] | ||
Tax Credit Carryforward, Amount | 1,616,000 | |
Foreign Tax Authority [Member] | ||
Operating Loss Carryforwards, Total | $ 629,000 |
Note 16 - Income Taxes - Reconc
Note 16 - Income Taxes - Reconciliation of Federal Income Tax Attributable to Operations to Income Tax Expense (Benefit) (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Statutory federal income tax benefit | $ (2,495,000) | $ (3,530,000) |
Intangible assets | 69,000 | |
PPP loan forgiveness | (137,000) | |
Incentive stock options | 257,000 | 56,000 |
Change in valuation allowance | (72,000) | 197,000 |
Expiration of net operating losses | 1,242,000 | 1,558,000 |
Disallowed financing costs | 1,282,000 | 1,619,000 |
State and local taxes | (195,000) | (31,000) |
Foreign rate differential | 26,000 | 13,000 |
Other | $ 92,000 | $ 49,000 |
Note 16 - Income Taxes - Compon
Note 16 - Income Taxes - Components of Company's Deferred Tax Assets and Liabilities for Federal and State Income Taxes (Details) - USD ($) | Dec. 31, 2021 | Dec. 31, 2020 |
Net operating loss carryforwards | $ 27,088,000 | $ 27,312,000 |
Income tax credit carryforwards | 2,797,000 | 2,852,000 |
Stock compensation | 437,000 | 369,000 |
Lease obligation | 127,000 | 160,000 |
Deferred revenue | 313,000 | 366,000 |
Inventory reserve | 449,000 | 234,000 |
Other | 213,000 | 268,000 |
Total deferred tax assets | 31,424,000 | 31,561,000 |
Depreciation and amortization | (320,000) | (352,000) |
Lease asset | (120,000) | (153,000) |
Total deferred tax liabilities | (440,000) | (505,000) |
Valuation allowance | $ (30,984,000) | $ (31,056,000) |
Note 17 - Employee Retirement_2
Note 17 - Employee Retirement Plan (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2021 | Dec. 31, 2020 | |
Defined Contribution Plan, Maximum Annual Contributions Per Employee, Percent | 4.00% | |
Defined Contribution Plan, Cost | $ 135,000 | $ 147,000 |
Note 18 - Subsequent Events (De
Note 18 - Subsequent Events (Details Textual) | Mar. 24, 2022$ / shares | Mar. 24, 2022USD ($)$ / sharesshares | Dec. 31, 2021USD ($) | Dec. 31, 2020USD ($)shares | Mar. 04, 2022ft² | Feb. 03, 2022USD ($) |
Stock Issued During Period, Value, New Issues | $ 10,839,000 | |||||
At The Market Offering Agreement [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 2,620,652 | |||||
Stock Issued During Period, Value, New Issues | $ 6,832,000 | |||||
Proceeds from Issuance of Common Stock | $ 8,224,000 | |||||
Payments of Stock Issuance Costs | $ 493,000 | |||||
Subsequent Event [Member] | ||||||
Market Offering, Additional Shares, Maximum Amount | $ 4,275,000 | |||||
Subsequent Event [Member] | Lease Agreement with Z3 Investment LLC [Member] | ||||||
Area of Real Estate Property (Square Foot) | ft² | 35,475 | |||||
Lessee, Lease, Number of Extensions | 2 | |||||
Lessee, Operating Lease, Renewal Term (Year) | 5 years | |||||
Subsequent Event [Member] | Boyalife License Agreement [Member] | ||||||
Royalty, Percentage of Annual Net Sales Covered by Patents | 7.50% | |||||
Royalty, Percentage of Annual Net Sales on Covered Intellectual Property | 5.00% | |||||
Subsequent Event [Member] | Boyalife License Agreement [Member] | ImmuneCyte [Member] | ||||||
Ownership Percentage Transferred as Consideration | 8.63% | |||||
Subsequent Event [Member] | Convertible Promissory Note [Member] | ||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 0.65 | $ 0.65 | ||||
Subsequent Event [Member] | At The Market Offering Agreement [Member] | ||||||
Stock Issued During Period, Shares, New Issues (in shares) | shares | 918,093 | |||||
Stock Issued During Period, Value, New Issues | $ 681,000 | |||||
Shares Issued, Price Per Share (in dollars per share) | $ / shares | $ 0.74 | $ 0.74 | ||||
Proceeds from Issuance of Common Stock | $ 594,000 | |||||
Payments of Stock Issuance Costs | $ 87,000 | |||||
Subsequent Event [Member] | Minimum [Member] | ||||||
Market Offering Agreement, Maximum Amount | 15,280,313 | |||||
Subsequent Event [Member] | Maximum [Member] | ||||||
Market Offering Agreement, Maximum Amount | $ 19,555,261 |