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CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 4,367,000 $ 4,304,000
Accounts receivable, net 1,772,000 2,167,000
Inventories 2,570,000 2,476,000
Prepaid expenses and other current assets 368,000 381,000
Total current assets 9,077,000 9,328,000
Property, plant and equipment, net 289,000 313,000
Intangible assets, net 2,437,000 2,654,000
Goodwill 2,435,000 2,461,000
Right-of-use assets 99,000 143,000
Deferred tax assets 82,000 83,000
Other assets 79,000 80,000
Total assets 14,498,000 15,062,000
Current liabilities    
Accounts payable 965,000 464,000
Accrued liabilities 416,000 492,000
Lease liabilities, current 112,000 126,000
Accrued income taxes 342,000 293,000
Total current liabilities 1,835,000 1,375,000
Long-term liabilities    
Lease liabilities, long term 2,000 33,000
Deferred tax liabilities 581,000 626,000
Total long-term liabilities 583,000 659,000
Total liabilities 2,418,000 2,034,000
Commitments and contingencies (Note 8)
Stockholders' equity    
Preferred stock, $0.01 par value: 1,000 shares authorized, 200 shares of Series A Convertible Preferred Stock issued and outstanding at both March 31, 2024 and December 31, 2023 ($5.0 million liquidation preference) 2,000 2,000
Common stock, $0.001 par value: 30,000 shares authorized, 9,860 shares issued and outstanding at both March 31, 2024 and December 31, 2023 10,000 10,000
Additional paid-in-capital 62,279,000 62,279,000
Accumulated other comprehensive income 93,000 200,000
Accumulated deficit (50,304,000) (49,463,000)
Total stockholders' equity 12,080,000 13,028,000
Total liabilities and stockholders' equity $ 14,498,000 $ 15,062,000