v3.26.1
Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
OPERATING ACTIVITIES:    
Net loss $ (1,779,000) $ (9,895,000)
Add: Loss from discontinued operations 91,000 151,000
Loss from continuing operations (1,688,000) (9,744,000)
Adjustments to reconcile net income (loss) to net cash flows used in operating activities:    
Accretion of interest of note receivable (90,000)
Finance income (17,000)
Finance costs 269,000
Licensing fees (85,000)
Loss on disposal 10,000
Loss on sale of note receivables  280,000
Gain on disposition of subsidiaries (3,877,000)
Depreciation 221,000 56,000
Stock-based compensation 947,000 1,078,000
Change in allowance for credit losses (183,000)
Write-off of obsolete inventory 1,209,000 1,223,000
Changes in operating assets and liabilities:    
Accounts receivable (1,575,000) (22,000)
Inventories (487,000) (2,447,000)
Deferred financing costs (415,000)
Prefunded insurance premiums from financing 221,000 158,000
Prepaid expenses and other current assets (757,000) (362,000)
Accounts payable 3,090,000 2,765,000
Accrued expenses 1,480,000 1,285,000
Net cash used in continuing operations (1,264,000) (6,193,000)
INVESTING ACTIVITIES:    
Disposal of a subsidiary, net of cash disposed of 885,000
Proceeds from disposal of property, plant and equipment 10,000
Purchase of property, plant and equipment (454,000) (27,000)
Net cash provided by (used in) investing activities 441,000 (27,000)
FINANCING ACTIVITIES:    
Net Proceeds from Private Placement Offering 3,601,000
Net cash from revolving credit facility 2,567,000 291,000
Proceeds on issuance of promissory notes 450,000
Repayment of promissory notes (300,000)
Proceeds from the exercise of Pinestar Warrants 44,000
Proceeds from the exercise of stock options 37,000
Payment of taxes on RSU withholding (150,000)
Repayments on insurance financing (221,000) (158,000)
Net cash provided by financing activities 2,496,000 3,665,000
Net cash provided by operating activities of discontinued operations 329,000 300,000
Net cash provided by discontinued operations 329,000 300,000
Net change in cash 2,002,000 2,255,000
Effect of exchange rate changes on cash 64,000 (79,000)
Cash from continuing operations, beginning of period 1,275,000 1,748,000
Cash from discontinued operations, beginning of period 258,000 2,119,000
Less: Cash from discontinued operations, end of period 258,000
Cash, end of period 3,599,000 1,275,000
Supplemental Noncash Investing and Financing Activities    
Fair value of warrants issued 65,000
Initial recognition of note receivable 2,590,000
Initial recognition of licensing fee receivable 1,696,000
Reclassification of current portion of note receivable 1,400,000
Reclassification of current portion of licensing fee receivable 150,000
Prepaid insurance financed through an insurance premium financing arrangement. 210,000
Supplemental disclosure:    
Interest 164
Income taxes