v3.25.2
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2025
Dec. 31, 2024
CURRENT ASSETS    
Cash and cash equivalents $ 1,530 $ 4,468
Restricted cash 55 52
Accounts receivable, net of allowance of doubtful accounts of $19 and $41, respectively 2,488 1,626
Inventories, net of allowance for obsolescence of $78 and $100, respectively 11,722 11,074
Deposit for Irwin acquisition 5,000 0
Prepaid expense and other current assets 1,382 923
Total current assets 22,177 18,143
Property and equipment, net 81 75
Right of use asset 367 412
Intangibles, net of amortization of $162 and $152, respectively 26,285 26,235
Goodwill 13,116 13,022
Deferred tax asset 821 644
TOTAL ASSETS 62,847 58,531
CURRENT LIABILITIES:    
Accounts payable 4,940 4,067
Accrued expense 1,409 684
Income taxes payable 1,521 1,415
Product returns 524 564
Term loan – current portion 4,500 4,500
Lease liability - current portion 74 81
Total current liabilities 12,968 11,311
Term loan, net of current portion and unamortized deferred finance costs 6,321 8,550
Long-term lease liability, net of current portion 299 331
Deferred tax liability 2,340 2,213
TOTAL LIABILITIES 21,928 22,405
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.01 par value, 10,000 shares authorized, none outstanding as of June 30, 2025 and December 31, 2024 0 0
Common stock, $0.01 par value, 120,000 shares authorized; 9,391 and 9,210 issued and outstanding as of June 30, 2025 and December 31, 2024 94 92
Additional paid-in capital 32,015 31,129
Retained earnings 9,332 5,567
Foreign currency translation adjustment (522) (662)
TOTAL STOCKHOLDERS' EQUITY 40,919 36,126
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 62,847 $ 58,531