Alpha Pro Tech (APT) 10-Q 9 May 24 2024 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2024	May 02, 2024
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2024
Document Transition Report	false
Entity File Number	001-15725
Entity Registrant Name	Alpha Pro Tech, Ltd.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	63-1009183
Entity Address, Address Line One	53 Wellington Street East
Entity Address, Postal Zip Code	L4G 1H6
Entity Address, City or Town	Aurora
Entity Address, State or Province	ON
Entity Address, Country	CA
City Area Code	905
Local Phone Number	479-0654
Title of 12(b) Security	Common Stock
Trading Symbol	APT
Security Exchange Name	NYSEAMER
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
Entity Shell Company	false
Entity Common Stock, Shares Outstanding (in shares)		11,688,700
Entity Central Index Key	0000884269
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q1
Amendment Flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2024	Dec. 31, 2023	[1]
Current assets:
Cash and cash equivalents	$ 18,510,000	$ 20,378,000
Inventories, net	20,769,000	20,131,000
Prepaid expenses	5,627,000	6,010,000
Total current assets	52,389,000	53,064,000
Property and equipment, net	5,426,000	5,587,000
Goodwill	55,000	55,000
Right-of-use assets	9,451,000	4,810,000
Equity investment in unconsolidated affiliate	5,391,000	5,247,000
Total assets	72,712,000	68,763,000
Current liabilities:
Accounts payable	713,000	802,000
Accrued liabilities	449,000	1,103,000
Lease liabilities	903,000	661,000
Total current liabilities	2,065,000	2,566,000
Lease liabilities, net of current portion	8,562,000	4,187,000
Deferred income tax liabilities, net	442,000	442,000
Total liabilities	11,069,000	7,195,000
Commitments and contingincies
Shareholders' equity:
Common stock, $.01 par value: 50,000,000 shares authorized; 11,372,878 and 11,416,212 shares outstanding as of March 31, 2024 and December 31, 2023, respectively	114,000	114,000
Additional paid-in capital	16,861,000	16,339,000
Retained earnings	46,099,000	46,552,000
Accumulated other comprehensive loss	(1,431,000)	(1,437,000)
Total shareholders' equity	61,643,000	61,568,000
Total liabilities and shareholders' equity	72,712,000	68,763,000
Nonrelated Party [Member]
Current assets:
Accounts receivable, net of allowance for doubtful accounts	6,426,000	5,503,000
Related Party [Member]
Current assets:
Accounts receivable, net of allowance for doubtful accounts	$ 1,057,000	$ 1,042,000
[1]The condensed consolidated balance sheet as of December 31, 2023, has been prepared using information from the audited consolidated balance sheet as of that date.

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parentheticals) - $ / shares	Mar. 31, 2024	Dec. 31, 2023
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.01	$ 0.01
Common Stock, Shares Authorized (in shares)	50,000,000	50,000,000
Common Stock, Shares, Outstanding (in shares)	11,372,878	11,416,212

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net sales	$ 13,482,000	$ 13,800,000
Cost of goods sold, excluding depreciation and amortization	8,065,000	8,818,000
Gross profit	5,417,000	4,982,000
Operating expenses:
Selling, general and administrative	4,847,000	4,313,000
Depreciation and amortization	244,000	243,000
Total operating expenses	5,091,000	4,556,000
Income from operations	326,000	426,000
Other income (loss):
Equity in income of unconsolidated affiliate	138,000	109,000
Interest income, net	258,000	158,000
Total other income	396,000	267,000
Income before provision for income taxes	722,000	693,000
Provision for income taxes	146,000	141,000
Net income	$ 576,000	$ 552,000
Basic earnings per common share (in dollars per share)	$ 0.05	$ 0.05
Diluted earnings per common share (in dollars per share)	$ 0.05	$ 0.05
Basic weighted average common shares outstanding (in shares)	11,285,296	12,150,067
Diluted weighted average common shares outstanding (in shares)	11,389,394	12,193,602

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net income	$ 576,000	$ 552,000
Other comprehensive income - foreign currency translation gain	6,000	137,000
Comprehensive income	$ 582,000	$ 689,000

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Shareholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2022	12,226,306
Balance at Dec. 31, 2022	$ 123,000	$ 17,099,000	$ 45,025,000	$ (1,489,000)	$ 60,758,000
Net income			552,000	0	$ 552,000
Common stock repurchased and retired (in shares)	(200,000)				(200,000)
Common stock repurchased and retired	$ (2,000)	(280,000)	(551,000)	0	$ (833,000)
Common stock repurchased and retired		(22,000)		0	(22,000)
Stock-based compensation expense		22,000		0	22,000
Options exercised (in shares)	109,250
Options exercised		349,000		0	350,000
Total comprehensive income	$ 0	0	0	137,000	137,000
Balance (in shares) at Mar. 31, 2023	12,135,556
Balance at Mar. 31, 2023	$ 122,000	17,190,000	45,026,000	(1,352,000)	$ 60,986,000
Balance (in shares) at Dec. 31, 2023	11,416,212				11,416,212
Balance at Dec. 31, 2023	$ 114,000	16,339,000	46,552,000	(1,437,000)	$ 61,568,000	[1]
Net income			576,000	0	$ 576,000
Common stock repurchased and retired (in shares)	(270,000)				(270,000)
Common stock repurchased and retired	$ (2,000)	(386,000)	(1,029,000)		$ (1,417,000)
Common stock repurchased and retired		(109,000)	0	0	(109,000)
Treasury stock excise tax		(14,000)			(14,000)
Stock-based compensation expense		109,000	0	0	$ 109,000
Options exercised (in shares)	226,666				226,666
Options exercised		813,000		0	$ 815,000
Total comprehensive income	$ 0	0	0	6,000	$ 6,000
Balance (in shares) at Mar. 31, 2024	11,372,878				11,372,878
Balance at Mar. 31, 2024	$ 114,000	$ 16,861,000	$ 46,099,000	$ (1,431,000)	$ 61,643,000
[1]The condensed consolidated balance sheet as of December 31, 2023, has been prepared using information from the audited consolidated balance sheet as of that date.

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash Flows From Operating Activities:
Net income	$ 576,000	$ 552,000
Adjustments to reconcile net income to net cash and cash equivalents used in operating activities:
Stock-based compensation	109,000	22,000
Depreciation and amortization	244,000	243,000
Equity in income of unconsolidated affiliate	(138,000)	(109,000)
Non-cash lease expense	162,000	237,000
Changes in operating assets and liabilities:
Accounts receivable, net	(923,000)	(3,024,000)
Accounts receivable, related party	(15,000)	865,000
Inventories, net	(638,000)	303,000
Prepaid expenses	383,000	190,000
Accounts payable and accrued liabilities	(743,000)	(737,000)
Lease liabilities	(186,000)	(239,000)
Net cash and cash equivalents used in operating activities	(1,169,000)	(1,697,000)
Cash Flows From Investing Activities:
Purchases of property and equipment	(83,000)	(289,000)
Cash Flows From Financing Activities:
Proceeds from exercise of stock options	815,000	350,000
Repurchase of common stock	(1,417,000)	(833,000)
Treasury stock excise tax	(14,000)	0
Net cash and cash equivalents used in financing activities	(616,000)	(483,000)
Decrease in cash and cash equivalents	(1,868,000)	(2,469,000)
Cash and cash equivalents, beginning of the year	20,378,000	16,290,000
Cash and cash equivalents, end of the year	18,510,000	13,821,000
Supplemental disclosure of non-cash transactions:
Net non-cash changes to operating leases	$ 4,803,000	$ 0

Note 1 - The Company

Note 1 - The Company	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Nature of Operations [Text Block]	1. The Company Alpha Pro Tech, Ltd. (“Alpha Pro Tech,” the “Company,” “we”, “us” or “our”) is in the business of protecting people, products and environments. The Company accomplishes this by developing, manufacturing and marketing a line of building supply products for the new home and re-roofing markets and a line of disposable protective apparel for the cleanroom, industrial, pharmaceutical, medical and dental markets. The Building Supply segment consists of construction weatherization products, such as housewrap, housewrap accessories, namely tape and flashing, synthetic roof underlayment and synthetic roof underlayment accessories, namely self-adhered underlayment, as well as other woven material. The Disposable Protective Apparel segment consists of a complete line of disposable protective garments (shoecovers, bouffant caps, coveralls, gowns, frocks and lab coats), face masks and face shields. All of our disposable protective apparel products, including face masks and face shields, are sold through similar distribution channels, are single-use and disposable, have the purpose of protecting people, products and environments, and have to be produced in Food and Drug Administration (“FDA”) approved facilities, regardless of the market served. The Company’s products are sold under the “Alpha Pro Tech” brand name as well as under private label and are predominantly sold in the United States of America (“U.S.”).

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation and Revenue Recognition Policy	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Basis of Presentation and Revenue Recognition Policy The interim financial information included in this report is unaudited; however, the information reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary for the fair presentation of the consolidated financial position, results of operations and cash flows for the interim periods reflected herein. These interim condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”) and, therefore, omit certain information and note disclosures that would be necessary to present the statements in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”). The interim condensed consolidated financial statements should be read in conjunction with the Company’s current year SEC filings, as well as the Company’s consolidated financial statements for the year ended December 31, 2023, which are included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023 (the “2023 Form 10-K”), filed with the SEC on March 13, 2024. The results of operations for the three months ended March 31, 2024, in this Quarterly Report on Form 10-Q are not necessarily indicative of the results to be expected for the full year. The condensed consolidated balance sheet as of December 31, 2023 was prepared using information from the audited consolidated balance sheet contained in the 2023 Form 10-K; however, it does not include all disclosures required by U.S. GAAP for annual consolidated financial statements. Net sales includes revenue from products and shipping and handling charges, net of estimates for product returns and any related sales incentives. Our customer contracts have a single performance obligation: transfer control of products to customers. Revenue is measured as the amount of consideration that we expect to receive in exchange for transferring control of products. All revenue is recognized when we satisfy our performance obligations under the applicable contract. We recognize revenue in connection with transferring control of the promised products to the customer, with revenue being recognized at the point in time when the customer obtains control of the products, which is generally when title passes to the customer upon delivery to a third party carrier for FOB shipping point arrangements and to the customer for FOB destination arrangements, at which time a receivable is created for the invoice sent to the customer. Shipping and handling activities are performed prior to the customer obtaining control of the goods and are accounted for as fulfillment activities and are not a promised good or service. Shipping and handling charges billed to customers are included in revenue. Shipping and handling costs, associated with the distribution of the Company’s product to the customers, are recorded in cost of goods sold and are recognized when control of the product is transferred to the customer, which is generally when title passes to the customer upon delivery to a third party carrier for FOB shipping point arrangements and to the customer for FOB destination arrangements. We estimate product returns based on historical return rates and estimate rebates based on contractual agreements. Using probability assessments, we estimate sales incentives expected to be paid over the term of the contract. Sales taxes and value added taxes in foreign and domestic jurisdictions that are collected from customers and remitted to governmental authorities are accounted for on a net basis and, therefore, are excluded from net sales. The Company manufactures certain private label goods for customers and has determined that control does not pass to the customer at the time of manufacture, based upon the nature of the private labeling. The Company has determined as of March 31, 2024, that it had no material contract assets, and concluded that its contract liabilities (primarily rebates) had the right of offset against customer receivables. See Note 10 and Note 11 of these Notes to Condensed Consolidated Financial Statements (Unaudited) for information on revenue disaggregated by type and by geographic region.

Note 3 - Shareholders' Equity

Note 3 - Shareholders' Equity	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Shareholders' Equity and Share-Based Payments [Text Block]	3. Shareholder s Equity Repurchase Program During the three months ended March 31, 2024, the Company repurchased and retired 270,000 shares of its common stock for $1,417,000. During the three months ended March 31, 2023, the Company repurchased and retired 200,000 shares of its common stock for $833,000. As of March 31, 2024, the Company had $777,000 available to repurchase common shares under the repurchase program. The excess of repurchase price over par value is allocated between additional paid-in capital and retained earnings. Option Activity The Company previously granted stock options to employees and non-employee directors under the 2004 Stock Option Plan (the “2004 Plan”). Options vest and expire according to terms established at the grant date. The 2004 Plan provided for a total of 5,000,000 common shares eligible for issuance. Under the 2004 Plan, approximately 5,009,750 options (taking into account cancelled and expired options that were added back to the plan reserve) had been granted as of December 31, 2020. At the Company’s 2020 Annual Meeting of Shareholders held on June 9, 2020, the Company’s shareholders approved the Alpha Pro Tech, Ltd. 2020 Omnibus Incentive Plan (the “2020 Incentive Plan”). The 2020 Incentive Plan provides for the grant of incentive and nonqualified stock options, stock appreciation rights, awards of restricted stock and restricted stock units, performance share awards, cash awards and other equity-based awards to employees (including officers), consultants and non-employee directors of the Company and its affiliates. A total of 1,800,000 shares of the Company’s common stock are reserved for issuance under the 2020 Incentive Plan, plus the number of shares underlying any award granted under the 2004 Option Plan that expires, terminates or is cancelled or forfeited under the terms of the 2004 Option Plan. As a result of the approval of the 2020 Incentive Plan, no future equity awards will be made pursuant to the 2004 Option Plan. Although no new awards may be granted under the 2004 Option Plan, all previously granted awards under the 2004 Option Plan will continue to be governed by the terms of the 2004 Option Plan. The Company records compensation expense for the fair value of stock-based awards determined as of the grant date, including employee stock options and restricted stock awards, over the determined requisite service period, which is generally ratably over the vesting term. The following table summarizes restricted stock awards activity for the three months ended March 31, 2024: Weighted Average Grant Date Price Shares Restricted stock awards Outstanding, December 31, 2023 235,172 $ 4.21 Granted to employees and non-employee directors 10,715 5.32 Vested (8,172 ) 4.02 Outstanding, March 31, 2024 237,715 4.12 During the three months ended March 31, 2024, and 2023, 10,715 and 0 restricted stock awards were granted under the 2020 Incentive Plan, respectively. The Company recognized $94,000 and $18,000 in compensation expense associated with outstanding restricted stock awards for the three months ended March 31, 2024 and 2023, respectively. As of March 31, 2024, $840,000 of total unrecognized compensation cost related to the restricted stock grants was expected to be recognized over a weighted average remainder period of 2.39 years. For the three months ended March 31, 2024 and 2023, no The Company uses the Black-Scholes option-pricing model to value the options. The Company uses historical data to estimate the expected life of the options. The risk-free interest rate for periods within the contractual life of an award is based on the US Treasury yield curve in effect at the time of grant. The estimated volatility is based on historical volatility and management’s expectations of future volatility. The Company uses an estimated dividend payout of zero The following table summarizes option activity for the three months ended March 31, 2024: Weighted Average Exercise Price Options Per Option Options outstanding, December 31, 2023 292,766 $ 3.71 Exercised (226,666 ) 3.59 Options outstanding, March 31, 2024 66,100 4.12 Options exercisable, March 31, 2024 9,899 3.70 As of March 31, 2024, $132,000 of total unrecognized compensation cost related to the stock option grants was expected to be recognized over a weighted average remainder period of 2.25 years.

Note 4 - Recent Accounting Pron

Note 4 - Recent Accounting Pronouncements	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Accounting Standards Update and Change in Accounting Principle [Text Block]	4. Recent Accounting Pronouncements In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures. These amendments address investor requests for enhanced transparency regarding income tax information. Specifically, they improve income tax disclosures related to rate reconciliation and income taxes paid. ASU 2023-09 is effective for fiscal years beginning after December 31, 2024. The Company is evaluating the impact the adoption of this guidance will have on its consolidated financial statements. In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. This ASU improves reportable segment disclosure requirements, primarily through enhanced disclosures about significant expenses, and is effective for fiscal years beginning after December 31, 2023 and for interim periods within fiscal years beginning after December 15, 2024 on a retrospective basis. The Company is currently evaluating the impact of this standard on the consolidated financial statements. Management periodically reviews new accounting standards that are issued. Management has not identified any other new standards that it believes merit further discussion at this time.

Note 5 - Inventories

Note 5 - Inventories	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	5. Inventories As of March 31, 2024 and December 31, 2023, inventories net of reserves consisted of the following: March 31, December 31, 2024 2023 Raw materials $ 10,012,000 $ 10,470,000 Work in process 2,425,000 2,236,000 Finished goods 8,332,000 7,425,000 $ 20,769,000 $ 20,131,000

Note 6 - Equity Investment in U

Note 6 - Equity Investment in Unconsolidated Affiliate	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Equity Method Investments and Joint Ventures Disclosure [Text Block]	6. Equity Investment in Unconsolidated Affiliate In 2005, Alpha ProTech Engineered Products, Inc. (a subsidiary of Alpha Pro Tech, Ltd.) entered into a joint venture with a manufacturer in India, Maple Industries and associates, for the production of building products. Under the terms of the joint venture agreement, a private company, Harmony Plastics Private Limited (“Harmony”), was created with ownership interests of 41.66% owned by Alpha ProTech Engineered Products, Inc. and 58.34% owned by Maple Industries and associates. This joint venture positions Alpha ProTech Engineered Products, Inc. to respond to current and expected increased product demand for housewrap and synthetic roof underlayment and provides future capacity for sales of specialty roofing component products and custom products for industrial applications requiring high quality extrusion coated fabrics. In addition, the joint venture now supplies products for the Company’s Disposable Protective Apparel segment. The capital from the initial funding and a bank loan, which is guaranteed exclusively by the individual shareholders of Maple Industries and associates and collateralized by the assets of Harmony, were utilized to purchase the original manufacturing facility in India. Harmony currently has four three one In accordance with ASC 810, Consolidation, the Company assesses whether or not related entities are variable interest entities (“VIEs”). For those related entities that qualify as VIEs, ASC 810 requires the Company to determine whether the Company is the primary beneficiary of the VIE, and, if so, to consolidate the VIE. The Company has determined that Harmony is not a VIE and is, therefore, considered to be an unconsolidated affiliate. The Company records its investment in Harmony as “equity investment in unconsolidated affiliate” in the accompanying consolidated balance sheets. The Company records its equity interest in Harmony’s results of operations as “equity in income of unconsolidated affiliate” in the accompanying consolidated statements of income. The Company periodically reviews its investment in Harmony for impairment. Management has determined that no For the three months ended March 31, 2024 and 2023, the Company purchased $5,329,000 and $5,036,000 of inventories, respectively, from Harmony. For both three months ended March 31, 2024 and 2023, the Company sold $0 of inventories, to Harmony. For the three months ended March 31, 2024 and 2023, the Company recorded equity in income of unconsolidated affiliate of $138,000 and $109,000, respectively, related to Harmony. As of March 31, 2024, the Company’s investment in Harmony was $5,391,000, which consisted of its original $1,450,000 investment and cumulative equity in income of unconsolidated affiliate of $6,391,000, less $942,000 in repayments of an advance, $77,000 in payments of dividends, and $1,431,000 in AOCL on foreign currency translations.

Note 7 - Accrued Liabilities

Note 7 - Accrued Liabilities	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Accounts Payable and Accrued Liabilities Disclosure [Text Block]	7. Accrued Liabilities As of March 31, 2024 and December 31, 2023, accrued liabilities consisted of the following: March 31, December 31, 2024 2023 Payroll expenses and taxes payable $ 291,000 $ 157,000 Commissions and bonuses payable and general accrued liabilities 158,000 946,000 Total accrued liabilities $ 449,000 $ 1,103,000

Note 8 - Basic and Diluted Earn

Note 8 - Basic and Diluted Earnings Per Common Share	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Earnings Per Share [Text Block]	8. Basic and Diluted Earnings Per Common Share The following table provides a reconciliation of both net income and the number of shares used in the computation of “basic” earnings per common share (“EPS”), which utilizes the weighted average number of common shares outstanding without regard to dilutive shares, and “diluted” EPS, which includes all such dilutive shares, for the three months ended March 31, 2024 and 2023: For the Three Months Ended March 31, 2024 2023 Net income (numerator) $ 576,000 $ 552,000 Shares (denominator): Basic weighted average common shares outstanding 11,285,296 12,150,067 Add: dilutive effect of common stock options 104,098 43,535 Diluted weighted average common shares outstanding 11,389,394 12,193,602 Earnings per common share: Basic $ 0.05 $ 0.05 Diluted $ 0.05 $ 0.05

Note 9 - Accumulated Other Comp

Note 9 - Accumulated Other Comprehensive Loss	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Comprehensive Income (Loss) Note [Text Block]	9. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss (“AOCL”), a component of shareholders' equity, consists of foreign currency translation adjustments related to foreign currency gains or losses on our unconsolidated affiliate as its functional currency is other than the U.S. dollar. The resulting foreign currency translation gains or losses are deferred as AOCL and reclassified to earnings only upon sale or liquidation of that business. The AOCL on equity in unconsolidated affiliate was $1,431,000 and $1,437,000 as of March 31, 2024 and December 31, 2023, respectively.

Note 10 - Activity of Business

Note 10 - Activity of Business Segments	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	10. Activity of Business Segments The Company operates through two (1) Building Supply: (2) Disposable Protective Apparel Segment data excludes charges allocated to the principal executive office and other unallocated corporate overhead expenses and income tax. The Company evaluates the performance of its segments and allocates resources to them based primarily on net sales. The accounting policies of the segments are the same as those described previously under Summary of Significant Accounting Policies (see Note 3 in the notes to our consolidated financial statements in Item 8 of the 2023 Form 10-K). The following table presents consolidated net sales for each segment for the three months ended March 31, 2024 and 2023: For the Three Months Ended March 31, 2024 2023 Building Supply $ 8,240,000 $ 8,631,000 Disposable Protective Apparel 5,242,000 5,169,000 Consolidated net sales $ 13,482,000 $ 13,800,000 The following table presents the reconciliation of consolidated segment income to consolidated net income for the three months ended March 31, 2024 and 2023: For the Three Months Ended March 31, 2024 2023 Building Supply $ 963,000 $ 956,000 Disposable Protective Apparel 1,032,000 784,000 Total segment income 1,995,000 1,740,000 Unallocated corporate overhead expenses 1,273,000 1,047,000 Provision for income taxes 146,000 141,000 Consolidated net income $ 576,000 $ 552,000 The following table presents the consolidated net property and equipment, goodwill and definite-lived intangible assets (“consolidated assets”) by segment as of March 31, 2024 and December 31, 2023: March 31, December 31, 2024 2023 Building Supply $ 3,273,000 $ 3,389,000 Disposable Protective Apparel 1,184,000 1,213,000 Total segment assets 4,457,000 4,602,000 Unallocated corporate assets 1,024,000 1,040,000 Total consolidated assets $ 5,481,000 $ 5,642,000

Note 11 - Financial Information

Note 11 - Financial Information about Geographic Areas	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Financial Information about Geographic Areas [Text Block]	11. Financial Information about Geographic Areas The following table summarizes the Company’s net sales by geographic region for the three months ended March 31, 2024 and 2023: For the Three Months Ended March 31, 2024 2023 Net sales by geographic region United States $ 13,298,000 $ 13,694,000 International 184,000 106,000 Consolidated net sales $ 13,482,000 $ 13,800,000 Net sales by geographic region are based on the countries in which our customers are located. For the three months ended March 31, 2024 and 2023, the Company did not generate sales from any single country, other than the United States, that were significant to the Company’s consolidated net sales. The following table summarizes the locations of the Company’s long-lived assets by geographic region as of March 31, 2024 and December 31, 2023: March 31, December 31, 2024 2023 Long-lived assets by geographic region United States $ 4,214,000 $ 4,340,000 International 1,212,000 1,247,000 Consolidated total long-lived assets $ 5,426,000 $ 5,587,000

Note 12 - Related Party Transac

Note 12 - Related Party Transactions	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	12. Related Party Transactions As of March 31, 2024, the Company had no related party transactions, other than the Company’s transactions with its unconsolidated affiliate, Harmony. See Note 6 of these Notes to Condensed Consolidated Financial Statements (Unaudited).

Note 13 - Leases

Note 13 - Leases	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	13. Leases The Company has operating leases for the Company’s corporate office and manufacturing facilities, which expire at various dates through 2034. The Company’s primary operating lease commitments as of March 31, 2024, related to the Company’s manufacturing facilities in Valdosta, Georgia, Nogales, Arizona and Salt Lake City, Utah, as well as the Company’s corporate headquarters in Aurora, Ontario, Canada. As of March 31, 2024, the Company had operating lease right-of-use assets of $9,451,000 and operating lease liabilities of $9,465,000. As of March 31, 2024, we did not The aggregate future minimum lease payments and reconciliation to lease liabilities as of March 31, 2024 were as follows: March 31, 2024 Remaining nine months of 2024 $ 1,162,000 2025 1,471,000 2026 1,477,000 2027 1,459,000 2028 1,489,000 2029 1,520,000 Thereafter 4,856,000 Total future minimum lease payments 13,434,000 Less imputed interest (3,969,000 ) Total lease liabilities $ 9,465,000 As of March 31, 2024, the weighted average remaining lease term of the Company’s operating leases was 10.46 years. During the three months ended March 31, 2024, the weighted average discount rate with respect to these leases was 6.99%.

Note 14 - Income Taxes

Note 14 - Income Taxes	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	14. Income taxes The Company accounts for income taxes using the asset and liability method. A valuation allowance is recorded to reduce the carrying amounts of deferred income tax assets unless it is more likely than not that such assets will be realized. The Company’s policy is to record any interest and penalties assessed by the Internal Revenue Service as a component of the provision for income taxes. The Company provides allowances for uncertain income tax positions when it is more likely than not that the position will not be sustained upon examination by the tax authority. Alpha Pro Tech, Ltd. and its subsidiaries file income tax returns in the U.S. federal jurisdiction, and in various state and foreign jurisdictions. An employer generally does not claim a corporate income tax deduction (which would be in an amount equal to the amount of income recognized by the employee) upon the exercise of its employee's incentive stock options (“ISOs”) unless the employee does not meet the holding period requirements and sells early, making a disqualifying disposition, or if the options otherwise do not qualify as ISOs under applicable tax laws. With non-qualified stock options (“NQSOs”), on the other hand, the employer is typically eligible to claim a deduction upon its employee's exercise of the NQSOs.

Note 15 - Contingencies

Note 15 - Contingencies	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	15. Contingencies On June 7, 2022, the Company filed a lawsuit (the “Lawsuit”) in Utah naming as defendants the vendors from which the Company ordered equipment for its facility in Utah (collectively the “Defendants”). The Lawsuit relates to certain equipment ordered from Defendants and paid for by the Company, which Defendants never delivered. In the Lawsuit the Company is seeking the following relief: compensatory damages in the amount $490,000, representing the money the Company paid for the machines it never received, lost profits in the form of mask sales it could have made if Defendants had delivered the machines on the promised date, and other monetary and equitable relief. In 2022, the Company wrote off the $490,000 balance of the deposit paid for the equipment, pending any recovery in the Lawsuit. As of the date hereof, no counterclaims have been asserted against the Company. The Company believes there would not be any meritorious claims against the Company in the Lawsuit. The final outcome of the Lawsuit, including the potential amount of any recovery for the Company’s claims, is uncertain. Any potential recovery represents a gain contingency in accordance with ASC 450, Contingencies, that has not been recorded as the matter was not resolved as of March 31, 2024. Any recovery will be recorded when received. The Company is subject to various pending and threatened litigation actions in the ordinary course of business. Although it is not possible to determine with certainty at this point in time what liability, if any, the Company will have as a result of such litigation, based on consultation with legal counsel, management does not anticipate that the ultimate liability, if any, resulting from such litigation will have a material effect on the Company’s financial condition and results of operations.

Note 16 - Subsequent Events

Note 16 - Subsequent Events	3 Months Ended
	Mar. 31, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	16. Subsequent Events The Company has reviewed and evaluated whether subsequent events have occurred from the condensed consolidated balance sheet date of March 31, 2024 through the filing date of this Quarterly Report on Form 10-Q that would require accounting or disclosure and has concluded that there are no such subsequent events.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Mar. 31, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	ITEM 5. OTHER INFORMATION (a) On February 26, 2024, the Company’s subsidiary, Alpha Pro Tech, Inc., entered into the Commercial Lease and Deposit Receipt effective as of March 1, 2024, with Nogales Property Management (the “Nogales Lease”). Pursuant to the Nogales Lease, the Company leases the Disposable Protective Apparel segment’s manufacturing, warehousing and shipping facility in Nogales, Arizona, with 137,500 square feet. The Nogales Lease is for a term of five years with initial monthly lease payments of $75,968, which increase by 3% per year after the first lease year. The Nogales Lease provides the Company with an option to renew for an additional year, upon at least 60 days’ prior notice by the Company, at a monthly rate to be negotiated at the time of renewal. On December 5, 2023, the Company’s subsidiary, Alpha ProTech Engineered Products, Inc., entered into the Lease Agreement effective as of January 1, 2024, with Edward Jennings, LLC (the “Valdosta Lease”). Pursuant to the Valdosta Lease, the Company leases the Building Supply segment’s manufacturing facility is located in Valdosta, Georgia, with 165,400 square feet. The Valdosta Lease is for a term of ten years with initial monthly lease payments of $39,000, which are adjusted each year after the fifth lease year by any increase or decrease in the Consumer Price Index published by the Bureau of labor Statistics. The Valdosta Lease provides the Company with an option to extend the lease for an additional term of 60 months, upon at least 180 days’ prior notice by the Company. (b) None. (c) During the period covered by this report, none
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Note 3 - Shareholders' Equity (

Note 3 - Shareholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Share-Based Payment Arrangement, Restricted Stock and Restricted Stock Unit, Activity [Table Text Block]	Weighted Average Grant Date Price Shares Restricted stock awards Outstanding, December 31, 2023 235,172 $ 4.21 Granted to employees and non-employee directors 10,715 5.32 Vested (8,172 ) 4.02 Outstanding, March 31, 2024 237,715 4.12
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Weighted Average Exercise Price Options Per Option Options outstanding, December 31, 2023 292,766 $ 3.71 Exercised (226,666 ) 3.59 Options outstanding, March 31, 2024 66,100 4.12 Options exercisable, March 31, 2024 9,899 3.70

Note 5 - Inventories (Tables)

Note 5 - Inventories (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	March 31, December 31, 2024 2023 Raw materials $ 10,012,000 $ 10,470,000 Work in process 2,425,000 2,236,000 Finished goods 8,332,000 7,425,000 $ 20,769,000 $ 20,131,000

Note 7 - Accrued Liabilities (T

Note 7 - Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Accrued Liabilities [Table Text Block]	March 31, December 31, 2024 2023 Payroll expenses and taxes payable $ 291,000 $ 157,000 Commissions and bonuses payable and general accrued liabilities 158,000 946,000 Total accrued liabilities $ 449,000 $ 1,103,000

Note 8 - Basic and Diluted Ea_2

Note 8 - Basic and Diluted Earnings Per Common Share (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	For the Three Months Ended March 31, 2024 2023 Net income (numerator) $ 576,000 $ 552,000 Shares (denominator): Basic weighted average common shares outstanding 11,285,296 12,150,067 Add: dilutive effect of common stock options 104,098 43,535 Diluted weighted average common shares outstanding 11,389,394 12,193,602 Earnings per common share: Basic $ 0.05 $ 0.05 Diluted $ 0.05 $ 0.05

Note 10 - Activity of Busines_2

Note 10 - Activity of Business Segments (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	For the Three Months Ended March 31, 2024 2023 Building Supply $ 8,240,000 $ 8,631,000 Disposable Protective Apparel 5,242,000 5,169,000 Consolidated net sales $ 13,482,000 $ 13,800,000
Reconciliation of Revenue from Segments to Consolidated [Table Text Block]	For the Three Months Ended March 31, 2024 2023 Building Supply $ 963,000 $ 956,000 Disposable Protective Apparel 1,032,000 784,000 Total segment income 1,995,000 1,740,000 Unallocated corporate overhead expenses 1,273,000 1,047,000 Provision for income taxes 146,000 141,000 Consolidated net income $ 576,000 $ 552,000
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	March 31, December 31, 2024 2023 Building Supply $ 3,273,000 $ 3,389,000 Disposable Protective Apparel 1,184,000 1,213,000 Total segment assets 4,457,000 4,602,000 Unallocated corporate assets 1,024,000 1,040,000 Total consolidated assets $ 5,481,000 $ 5,642,000

Note 11 - Financial Informati_2

Note 11 - Financial Information about Geographic Areas (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas [Table Text Block]	For the Three Months Ended March 31, 2024 2023 Net sales by geographic region United States $ 13,298,000 $ 13,694,000 International 184,000 106,000 Consolidated net sales $ 13,482,000 $ 13,800,000 March 31, December 31, 2024 2023 Long-lived assets by geographic region United States $ 4,214,000 $ 4,340,000 International 1,212,000 1,247,000 Consolidated total long-lived assets $ 5,426,000 $ 5,587,000

Note 13 - Leases (Tables)

Note 13 - Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Notes Tables
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	March 31, 2024 Remaining nine months of 2024 $ 1,162,000 2025 1,471,000 2026 1,477,000 2027 1,459,000 2028 1,489,000 2029 1,520,000 Thereafter 4,856,000 Total future minimum lease payments 13,434,000 Less imputed interest (3,969,000 ) Total lease liabilities $ 9,465,000

Note 3 - Shareholders' Equity_2

Note 3 - Shareholders' Equity (Details Textual) - USD ($) Pure in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2020	Dec. 31, 2004
Stock Repurchased and Retired During Period, Shares	270,000	200,000
Payments for Repurchase of Common Stock	$ 1,417,000	$ 833,000
Share Repurchase Program, Remaining Authorized, Amount	$ 777,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross	0	0
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate	0%
Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	10,715
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense	$ 15,000	$ 3,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 132,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years 3 months
The2004 Plan Member
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant				5,000,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross			5,009,750
Incentive Plan 2020 [Member]
Common Stock, Capital Shares Reserved for Future Issuance	1,800,000
Incentive Plan 2020 [Member] | Restricted Stock [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	10,715	0
Share-Based Payment Arrangement, Expense	$ 94,000	$ 18,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Amount	$ 840,000
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition	2 years 4 months 20 days

Note 3 - Shareholders' Equity -

Note 3 - Shareholders' Equity - Restricted Stock Activity (Details) - Restricted Stock [Member]	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Outstanding, shares (in shares) | shares	235,172
Outstanding, weighted average grant date price (in dollars per share) | $ / shares	$ 4.21
Granted to employees and directors, shares (in shares) | shares	10,715
Granted to employees and directors, weighted average grant date price (in dollars per share) | $ / shares	$ 5.32
Vested, shares (in shares) | shares	(8,172)
Vested, weighted average grant date price (in dollars per share) | $ / shares	$ 4.02
Outstanding, shares (in shares) | shares	237,715
Outstanding, weighted average grant date price (in dollars per share) | $ / shares	$ 4.12

Note 3 - Shareholders' Equity_3

Note 3 - Shareholders' Equity - Information About Stock Options (Details)	3 Months Ended
	Mar. 31, 2024 $ / shares shares
Options outstanding, options (in shares) | shares	292,766
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 3.71
Exercised, options (in shares) | shares	(226,666)
Exercised, weighted average exercise price (in dollars per share) | $ / shares	$ 3.59
Options outstanding, options (in shares) | shares	66,100
Options outstanding, weighted average exercise price (in dollars per share) | $ / shares	$ 4.12
Options exercisable, options (in shares) | shares	9,899
Options exercisable, weighted average exercise price (in dollars per share) | $ / shares	$ 3.7

Note 5 - Inventories - Inventor

Note 5 - Inventories - Inventories (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Raw materials	$ 10,012,000	$ 10,470,000
Work in process	2,425,000	2,236,000
Finished goods	8,332,000	7,425,000
Inventory, Net	$ 20,769,000	$ 20,131,000	[1]
[1]The condensed consolidated balance sheet as of December 31, 2023, has been prepared using information from the audited consolidated balance sheet as of that date.

Note 6 - Equity Investment in_2

Note 6 - Equity Investment in Unconsolidated Affiliate (Details Textual)	3 Months Ended		12 Months Ended
	Mar. 31, 2024 USD ($) ft²	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($)	Dec. 31, 2005
Income (Loss) from Equity Method Investments	$ 138,000	$ 109,000
INDIA | Harmony [Member]
Number of Stores	4
Number Of Stores Owned	3
Number Of Stores Rented	1
INDIA | Harmony [Member] | Manufacturing Building Products [Member]
Area of Real Estate Property (Square Foot) | ft²	139,000
INDIA | Harmony [Member] | Manufacturing Coated Material and Sewing Proprietary Disposable Protective Apparel [Member]
Area of Real Estate Property (Square Foot) | ft²	121,000
INDIA | Harmony [Member] | Sewing Proprietary Disposable Protective Apparel [Member]
Area of Real Estate Property (Square Foot) | ft²	23,000
INDIA | Harmony [Member] | Manufacturing Of Building Products [Member]
Area of Real Estate Property (Square Foot) | ft²	159,000
Harmony [Member]
Equity Method Investment, Other than Temporary Impairment	$ 0		$ 0
Expense To Acquire Inventory	5,329,000	5,036,000
Proceeds from Sale of Productive Assets	0	0
Income (Loss) from Equity Method Investments	138,000	$ 109,000
Equity Method Investments	5,391,000
Equity Method Investment, Aggregate Cost	1,450,000
Cumulative Equity In Income Of Unconsolidated Affiliate	6,391,000
Proceeds from Equity Method Investment, Distribution, Return of Capital	942,000
Proceeds from Equity Method Investment, Distribution	77,000
Other Comprehensive Income (Loss), Foreign Currency Transaction and Translation Adjustment, Net of Tax, Portion Attributable to Noncontrolling Interest	$ 1,431,000
Harmony [Member] | Alpha Pro Tech Engineered Products [Member]
Equity Method Investment, Ownership Percentage				41.66%
Harmony [Member] | Maple Industries and Associates [Member]
Equity Method Investment, Ownership Percentage				58.34%

Note 7 - Accrued Liabilities -

Note 7 - Accrued Liabilities - Accrued Liabilities (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Payroll expenses and taxes payable	$ 291,000	$ 157,000
Commissions and bonuses payable and general accrued liabilities	158,000	946,000
Total accrued liabilities	$ 449,000	$ 1,103,000	[1]
[1]The condensed consolidated balance sheet as of December 31, 2023, has been prepared using information from the audited consolidated balance sheet as of that date.

Note 8 - Basic and Diluted Ea_3

Note 8 - Basic and Diluted Earnings Per Common Share - Reconciliation of Net Income and Number of Shares Used in Computations of Basic and Diluted EPS (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net income	$ 576,000	$ 552,000
Basic weighted average common shares outstanding (in shares)	11,285,296	12,150,067
Add: dilutive effect of common stock options (in shares)	104,098	43,535
Diluted weighted average common shares outstanding (in shares)	11,389,394	12,193,602
Basic earnings per common share (in dollars per share)	$ 0.05	$ 0.05
Diluted earnings per common share (in dollars per share)	$ 0.05	$ 0.05

Note 9 - Accumulated Other Co_2

Note 9 - Accumulated Other Comprehensive Loss (Details Textual) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax	$ (1,431,000)	$ (1,437,000)	[1]
[1]The condensed consolidated balance sheet as of December 31, 2023, has been prepared using information from the audited consolidated balance sheet as of that date.

Note 10 - Activity of Busines_3

Note 10 - Activity of Business Segments (Details Textual)	3 Months Ended
	Mar. 31, 2024
Number of Operating Segments	2

Note 10 - Activity of Busines_4

Note 10 - Activity of Business Segments - Consolidated Net Sales (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Net sales	$ 13,482,000	$ 13,800,000
Operating Segments [Member] | Building Supply [Member]
Net sales	8,240,000	8,631,000
Operating Segments [Member] | Disposable Protective Apparel [Member]
Net sales	$ 5,242,000	$ 5,169,000

Note 10 - Activity of Busines_5

Note 10 - Activity of Business Segments - Reconciliation of Total Segment Income to Total Consolidated Net Income (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Income	$ 576,000	$ 552,000
Provision for income taxes	146,000	141,000
Operating Segments [Member]
Income	1,995,000	1,740,000
Operating Segments [Member] | Building Supply [Member]
Income	963,000	956,000
Operating Segments [Member] | Disposable Protective Apparel [Member]
Income	1,032,000	784,000
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Income	$ 1,273,000	$ 1,047,000

Note 10 - Activity of Busines_6

Note 10 - Activity of Business Segments - Consolidated Net Property and Equipment, Goodwill and Intangible Assets (Details) - USD ($)	Mar. 31, 2024	Dec. 31, 2023
Assets	$ 5,481,000	$ 5,642,000
Operating Segments [Member]
Assets	4,457,000	4,602,000
Operating Segments [Member] | Building Supply [Member]
Assets	3,273,000	3,389,000
Operating Segments [Member] | Disposable Protective Apparel [Member]
Assets	1,184,000	1,213,000
Segment Reporting, Reconciling Item, Corporate Nonsegment [Member]
Assets	$ 1,024,000	$ 1,040,000

Note 11 - Financial Informati_3

Note 11 - Financial Information about Geographic Areas - Consolidated Net Sales and Long-lived Asset Information by Geographic Area (Details) - USD ($)	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Revenues	$ 13,482,000	$ 13,800,000
Reportable Geographical Components [Member]
Long-lived assets	5,426,000		$ 5,587,000
UNITED STATES | Reportable Geographical Components [Member]
Revenues	13,298,000	13,694,000
Long-lived assets	4,214,000		4,340,000
International Member | Reportable Geographical Components [Member]
Revenues	184,000	$ 106,000
Long-lived assets	$ 1,212,000		$ 1,247,000

Note 13 - Leases (Details Textu

Note 13 - Leases (Details Textual) - USD ($)	3 Months Ended
	Mar. 31, 2024	Dec. 31, 2023	[1]
Operating Lease, Right-of-Use Asset	$ 9,451,000	$ 4,810,000
Operating Lease, Liability, Total	9,465,000
Finance Lease, Liability, Total	0
Operating Lease, Expense	$ 370,000
Operating Lease, Weighted Average Remaining Lease Term (Year)	10 years 5 months 15 days
Operating Lease, Weighted Average Discount Rate, Percent	6.99%
[1]The condensed consolidated balance sheet as of December 31, 2023, has been prepared using information from the audited consolidated balance sheet as of that date.

Note 13 - Leases - Future Minim

Note 13 - Leases - Future Minimum Lease Payment (Details)	Mar. 31, 2024 USD ($)
Remaining nine months of 2024	$ 1,162,000
2025	1,471,000
2026	1,477,000
2027	1,459,000
2028	1,489,000
2029	1,520,000
Thereafter	4,856,000
Total future minimum lease payments	13,434,000
Less imputed interest	(3,969,000)
Total lease liabilities	$ 9,465,000

Note 15 - Contingencies (Detail

Note 15 - Contingencies (Details Textual) - Lawsuit With Defendants in Utah for Undelivered Equipment [Member] - USD ($)	Jun. 07, 2022	Dec. 31, 2022
Loss Contingency, Damages Sought, Value	$ 490,000
Deposit Paid for Equipment, Write-off		$ 490,000