XML 30 R19.htm IDEA: XBRL DOCUMENT v3.22.1
NOTE 1 — Organization and Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Activities in allowance for doubtful accounts
             
Year  Balance at
Beginning of Year
  Charged to
Costs and
Expenses
  Amounts
Written Off
  Balance at
End of
Year
             
 2021   $40,651   $     $     $40,651 
 2020   $40,651   $     $     $40,651 
Inventory Components
                
   December 31,
   2021  2020
Raw materials and sub-assemblies  $5,757,869   $3,642,377 
Finished goods   277,598    281,104 
Inventory reserves   (880,943)   (727,639)
Inventory, net  $5,154,524  $3,195,842
Prepaid Expenses and Other Current Assets
                  
   December 31,
   2021  2020
Prepaid insurance  $94,923   $82,296 
Product certification costs   61,557    75,592 
Prepaid inventory purchases   131,635    93,859 
Prepaid maintenance contracts and other prepaid expenses   107,046    83,639 
Prepaid expenses and other current assets  $395,161  $335,386
Concentration of Credit Risk
                   
   December 31,
   2021  2020
Ingram Micro, Inc.   28%   34%
ScanSource, Inc.   24%   

13

%
BlueStar, Inc.  21%   29%
Bluestar Europe Distribution BV   *   11%
 
Warranty
             
Year  Balance at
Beginning of Year
  Additional Warranty Reserves  Amounts
Charged to Reserves
  Balance at
End of
Year
             
 2021   $78,871   $13,910   $(13,910)  $78,871 
 2020   $78,871   $73,734   $(73,734)  $78,871 
Net Income (Loss) per Share Applicable to Common Stockholders
                
   Years Ended December 31,
   2021  2020
Numerator:      
   Net income (loss)  $4,466,257  $(3,278,601)
   Net income (loss) allocated to restricted stock award   (380,547)   188,375 
   Adjusted net income (loss) for basic earnings per share  $4,085,710  $(3,090,223)
   Convertible note interest   175,876     
   Adjusted net income (loss) before interest for diluted earnings per share  $4,261,586  $(2,571,114)
          
Denominator: Weighted average shares outstanding used in computing net income (loss) per share:          
          Basic   6,991,194   6,036,310
          Fully diluted   8,923,487   6,036,310
 Net income (loss) per share applicable to common stockholders:          
          Basic  $0.58  $(0.51)
          Fully diluted  $0.48  $(0.51)
Revenues for geographic areas (in $'000)
                
   Years Ended December 31,
Revenues: (in thousands)  2021  2020
   United States  $17,455   $12,137 
   Europe   3,493    2,209 
   Asia and rest of world   2,251    1,354 
 Total  $23,199  $15,700
Customers who accounted for at least 10% of total revenues
                   
   Years Ended December 31,
   2021  2020
Ingram Micro, Inc.   30%   31%
BlueStar, Inc.  23%   23%
ScanSource, Inc.   11%   *
* Customer accounted for less than 10% of the Company’s total revenues