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CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2023
Dec. 31, 2022
ASSETS    
Cash and cash equivalents $ 7,731 $ 13,777
Restricted cash 938 944
Accounts receivable, net of allowance of $1,278 and $973 in 2023 and 2022, respectively 91 218
Income tax receivable 465 423
Inventories, net 14,535 14,726
Prepaid expenses and other current assets 1,774 2,389
Deferred commissions 2,130 2,476
Total current assets 27,664 34,953
Long-lived assets 4,147 3,759
Construction in progress 194 378
Long-term restricted cash 718 476
Other assets 7,066 8,439
Deferred Tax Assets, Net 1,611 1,501
Total assets 41,206 49,128
LIABILITIES AND SHAREHOLDERS’ EQUITY    
Current portion of finance leases 269 61
Accounts payable 4,010 4,361
Accrued expenses 6,779 7,510
Commissions and incentives payable 8,175 9,256
Taxes payable 1,521 3,281
Current notes payable 240 263
Deferred revenue 4,786 5,106
Total current liabilities 25,780 29,838
Finance leases, excluding current portion 956 88
Other long-term liabilities 3,986 5,026
Total liabilities 30,722 34,952
Commitments and contingencies (Note 11)
Shareholders’ equity:    
Preferred stock, $0.01 par value, 1,000,000 shares authorized, no shares issued or outstanding 0 0
Common stock, $0.0001 par value, 99,000,000 shares authorized, 2,742,857 shares issued and 1,860,154 shares outstanding as of December 31, 2023 and 2,742,857 shares issued and 1,858,800 shares outstanding as of December 31, 2022 0 0
Additional paid-in capital 33,309 33,377
Retained earnings (accumulated deficit) (1,301) 1,686
Accumulated other comprehensive (loss) (1,015) (208)
Treasury stock, at average cost, 882,703 shares as of December 31, 2023 and 884,057 shares as of December 31, 2022 (20,509) (20,679)
Total shareholders’ equity 10,484 14,176
Total liabilities and shareholders’ equity $ 41,206 $ 49,128