Note 7 - Accounts Payable and Accrued Liabilities

6 Months Ended

Jun. 30, 2023

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

7.          ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

Accounts payable includes $40 and $127 due to related party Syzygy Licensing, LLC (“Syzygy”) as of June 30, 2023 and December 31, 2022, respectively. See Notes 11 for additional information on this related party.

The Company consummated an offering of Series A Convertible Preferred Stock and Warrants (“Offering”), which Offering closed on July 5, 2023, resulting in gross proceeds to the Company of approximately $10 million of which $7.4 million was received on June 29, 2023. The $7.4 million received was recorded to cash with an offset to accrued expense.

Accrued liabilities consist of the following:

	June 30, 2023		December 31, 2022
Patent and legal costs	$	103	$	135
Accrued compensation		777		1,100
Warranty costs		75		125
Pre-funding of the sale of shares, preferred stock and warrants		7,350		-
Taxes and other		257		103
Total	$	8,562	$	1,463

Accrued compensation includes $80 and $1,022 in employee bonuses and commissions payable at June 30, 2023 and December 31, 2022, respectively.

Changes in our estimated product warranty costs were as follows:

	Six Months Ended June 30,
	2023			2022
Balance, beginning of period	$	125		$	96
Warranty settlements		(6	)		(63	)
Warranty provision		(44	)		45
Balance, end of period	$	75		$	78