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Note 15 - Business Combination | 9 Months Ended
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Sep. 30, 2023
Notes to Financial Statements |
Business Combination Disclosure [Text Block] | 15. BUSINESS COMBINATION The Company entered into the Purchase Agreement with Intrensic and the Sellers with an effective date of August 9, 2023 (the (“Closing”). The Closing was consummated on August 16, 2023. Under the terms of the Purchase Agreement, the Company agreed to purchase, and Sellers agreed to sell the Membership Interests for the following consideration at Closing: (i) $554 in cash, subject to adjustment based upon the outstanding indebtedness of Intrensic and Intrensic’s working capital as of the Closing; and (ii) 1,250,000 shares of Common Stock of the Company valued at approximately $1,938. The Company assessed the historical financial information of Intrensic to determine if it would materially impact Wrap's historical financial statements for the purposes of disclosing proforma financial information. The Company determined that in the current or prior reporting periods the acquired business contributed immaterially to the Company’s financial statements . Therefore, a pro forma disclosure of the Company as if the business combination had occurred is not warranted under ASC 805. The preliminary purchase price is not finalized. The Company is still evaluating the impact of the income tax provision related to the acquisition and assessing the assumed contracts related to deferred revenue. The table below sets forth the preliminary allocation of the fair value of Intrensic’s net assets acquired and the corresponding line item in the Company’s consolidated balance sheet at the date of acquisition.
Cash and cash equivalents |  | $ | 3 |
Accounts receivable |  |  | 90 |
Inventory |  |  | 61 |
Net property, plant and equipment |  |  | - |
Technology |  |  | 490 |
Customer relationships (included in Intangibles) |  |  | 160 |
Trademarks and trade names (included in Intangibles) |  |  | 80 |
Goodwill |  |  | 1,611 |
Total assets |  | $ | 2,495 |
Liabilities |  |  | 3 |
Equity |  |  | 2,492 |
Total liabilities and equity |  | $ | 2,495 |
Purchase Price: |  |  |  |
Cash |  |  | 554 |
Equity |  |  | 1,938 |
Liabilities assumed |  |  | 3 |
Total |  | $ | 2,495 |
Legal fees incurred in connection with the transaction totaled approximately $38 and have been expensed as incurred.

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- Definition The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-5 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//805/tableOfContent + Details
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