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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets    
Cash and cash equivalents $ 2,950,000 $ 4,304,000
Accounts receivable, net 1,612,000 2,167,000
Inventories 2,009,000 2,476,000
Prepaid expenses and other current assets 328,000 381,000
Total current assets 6,899,000 9,328,000
Property, plant and equipment, net 411,000 313,000
Intangible assets, net 1,874,000 2,654,000
Goodwill 2,658,000 2,461,000
Right-of-use assets 1,064,000 143,000
Deferred tax assets 82,000 83,000
Other assets 128,000 80,000
Total assets 13,116,000 15,062,000
Current liabilities    
Accounts payable 573,000 464,000
Accrued liabilities 377,000 492,000
Lease liabilities, current 352,000 126,000
Accrued income taxes 88,000 293,000
Total current liabilities 1,390,000 1,375,000
Long-term liabilities    
Lease liabilities, long term 777,000 33,000
Deferred tax liabilities 456,000 626,000
Total long-term liabilities 1,233,000 659,000
Total liabilities 2,623,000 2,034,000
Commitments and contingencies (Note 11)
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 December 31, 2024 and 2023 ($5.0 million liquidation preference) 2,000 2,000
Common stock, $0.001 par value: 30,000 shares authorized, 9,864 and 9,860 shares issued and outstanding at December 31, 2024 and 2023, respectively 10,000 10,000
Additional paid-in-capital 62,313,000 62,279,000
Accumulated other comprehensive income 15,000 200,000
Accumulated deficit (51,847,000) (49,463,000)
Total stockholders' equity 10,493,000 13,028,000
Total liabilities and stockholders' equity $ 13,116,000 $ 15,062,000