Note 2 - Summary of Significant Accounting Policies

3 Months Ended

Mar. 31, 2022

Notes to Financial Statements

Significant Accounting Policies [Text Block]

2.     Summary of Significant Accounting Policies

Restricted cash

Restricted cash as of March 31, 2022 represents funds that are restricted to satisfy any amount borrowed against the Company's Cash Collateral Security agreement with BMO Harris Bank N.A. The balance of restricted cash totaling $1,066 is comprised of current assets relating to existing standby letters of credit with varying maturity dates, the latest maturity date is February 1, 2023, with BMO Harris Bank N.A.

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the Condensed Consolidated Balance Sheets that sum to the total of the same such amounts shown in the Condensed Consolidated Statements of Cash Flows:

	March 31,		March 31,
	2022		2021
Cash and cash equivalents	$	34,174	$	35,711
Restricted cash included in current assets		1,066		150
Restricted cash included in long-term assets		—		270
Total cash, cash equivalents, and restricted cash shown in the Consolidated Statements of Cash Flows	$	35,240	$	36,131

Inventories

Inventories consist primarily of equipment constructed for resale and spare parts and are stated at the lower of cost or net realizable value, using the weighted-average cost method. At  March 31, 2022 and December 31, 2021, inventory included equipment constructed for resale of $227 and $227, respectively, and spare parts, net of reserves of $134 and $121, respectively. Usage is recorded in cost of sales in the period that parts were issued to a project, used to service equipment, or sold to customers. Inventories are periodically evaluated to identify obsolete or otherwise impaired parts and are written off when management determines usage is not probable. The Company estimates the balance of excess and obsolete inventory by analyzing inventory by age using last used and original purchase date and existing sales pipeline for which the inventory could be used.