v3.26.3
Notes and lines of credit consist of the following: (Details) - USD ($)
 1 Months Ended 12 Months Ended 36 Months Ended
Sep. 30, 2026
May 27, 2025
Mar. 01, 2024
Nov. 13, 2023
Jan. 28, 2022
Jul. 31, 2014
Dec. 31, 2024
Dec. 31, 2024
Aug. 17, 2026
May 26, 2025
May 25, 2025
Dec. 30, 2024
Dec. 31, 2023
Jan. 26, 2022
Letter of Credit [Member]                            
Line of Credit Facility [Line Items]                            
Debt Instrument, Description of Variable Rate Basis           prime rate   prime rate            
Debt Instrument, Basis Spread on Variable Rate           1.00%   1.00%            
Libertyville Bank and Trust [Member]                            
Line of Credit Facility [Line Items]                            
Related Party Transaction, Rate [1]             8.50%              
Line of Credit Facility, Current Borrowing Capacity [1]             $ 30,000 $ 30,000         $ 30,000  
Long-Term Line of Credit [1]                      
Libertyville Bank and Trust One [Member]                            
Line of Credit Facility [Line Items]                            
Related Party Transaction, Rate [2]             8.50%              
Line of Credit Facility, Current Borrowing Capacity [2]             $ 500,000 500,000         500,000  
Long-Term Line of Credit [2]                      
Beachcorp, LLC [Member]                            
Line of Credit Facility [Line Items]                            
Related Party Transaction, Rate [3]             8.25%              
Line of Credit Facility, Current Borrowing Capacity [3]             $ 5,604,000 5,604,000         3,298,000  
Long-Term Line of Credit [3]                     2,810,000  
Beachcorp, LLC One [Member]                            
Line of Credit Facility [Line Items]                            
Related Party Transaction, Rate [4]             8.25%              
Line of Credit Facility, Current Borrowing Capacity [4]             $ 5,200,000 5,200,000         4,524,000  
Long-Term Line of Credit [4]                       $ 4,000,000 5,000,000  
Strandler, LLC [Member]                            
Line of Credit Facility [Line Items]                            
Related Party Transaction, Rate [5]             8.25%              
Line of Credit Facility, Current Borrowing Capacity [5]             $ 1,000,000 1,000,000         1,000,000  
Long-Term Line of Credit [5]             $ 1,000,000 1,000,000         1,000,000  
Strandler LLC One [Member]                            
Line of Credit Facility [Line Items]                            
Related Party Transaction, Rate [6]             9.25%              
Line of Credit Facility, Current Borrowing Capacity [6]             $ 0 0         2,000,000  
Long-Term Line of Credit [6]             $ 0 $ 0         $ 2,000,000  
Letter of Credit [Member]                            
Line of Credit Facility [Line Items]                            
Line of Credit Facility, Maximum Borrowing Capacity           $ 30,000                
Revolving Credit Facility [Member] | Business Loan Agreement [Member] | Beachcorp, LLC [Member]                            
Line of Credit Facility [Line Items]                            
Line of Credit Facility, Maximum Borrowing Capacity         $ 8,000,000                 $ 6,000,000
Debt Instrument, Description of Variable Rate Basis       prime rate prime rate                  
Debt Instrument, Basis Spread on Variable Rate         0.75%                  
Line of Credit Facility, Expiration Date     Oct. 01, 2025   Mar. 31, 2024                  
Revolving Credit Facility [Member] | Business Loan Agreement [Member] | Beachcorp, LLC [Member] | Subsequent Event [Member]                            
Line of Credit Facility [Line Items]                            
Line of Credit Facility, Maximum Borrowing Capacity   $ 12,000,000               $ 8,000,000        
Line of Credit Facility, Expiration Date May 31, 2028 Apr. 30, 2027                        
Inventory Facility [Member] | Business Loan Agreement [Member] | Beachcorp, LLC [Member]                            
Line of Credit Facility [Line Items]                            
Line of Credit Facility, Maximum Borrowing Capacity         $ 4,000,000                  
Debt Instrument, Description of Variable Rate Basis         prime rate                  
Debt Instrument, Basis Spread on Variable Rate         0.75%                  
Line of Credit Facility, Expiration Date         Mar. 31, 2024                  
Line of Credit Percentage of Eligible inventory         50.00%                  
Inventory Facility [Member] | Business Loan Agreement [Member] | Beachcorp, LLC [Member] | Subsequent Event [Member]                            
Line of Credit Facility [Line Items]                            
Overstated inventory maximum waiver                 $ 3,000,000          
Replacement Promissory Note [Member] | Business Loan Agreement [Member] | Beachcorp, LLC [Member]                            
Line of Credit Facility [Line Items]                            
Line of Credit Facility, Maximum Borrowing Capacity       $ 5,200,000                    
Debt Instrument, Basis Spread on Variable Rate       0.75%                    
Line of Credit Facility, Expiration Date     Oct. 01, 2025                      
Line of Credit Percentage of Eligible inventory       55.00%                    
Replacement Promissory Note [Member] | Business Loan Agreement [Member] | Beachcorp, LLC [Member] | Subsequent Event [Member]                            
Line of Credit Facility [Line Items]                            
Line of Credit Facility, Maximum Borrowing Capacity   $ 10,000,000                 $ 5,200,000      
Line of Credit Facility, Expiration Date May 31, 2028 Apr. 30, 2027                        
Term Loan [Member] | Strandler, LLC [Member]                            
Line of Credit Facility [Line Items]                            
Debt Instrument, Description of Variable Rate Basis         prime rate                  
Debt Instrument, Basis Spread on Variable Rate         0.75%                  
Line of Credit Facility, Expiration Date     Oct. 01, 2025                      
Term Loan [Member] | Strandler, LLC [Member] | Subsequent Event [Member]                            
Line of Credit Facility [Line Items]                            
Line of Credit Facility, Expiration Date May 31, 2028 Apr. 30, 2027                        
Bridge Note [Member] | Strandler, LLC [Member]                            
Line of Credit Facility [Line Items]                            
Line of Credit Facility, Maximum Borrowing Capacity       $ 2,000,000                    
Debt Instrument, Description of Variable Rate Basis       prime rate                    
Debt Instrument, Basis Spread on Variable Rate       0.75%                    
Line of Credit Facility, Expiration Date       May 13, 2024                    
[1] Since July 2014, we have maintained a bank-issued letter of credit for up to $30 in borrowings, with interest at the prime rate plus 1%, to support our obligations under our Romeoville, Illinois facility lease agreement. No borrowings have been incurred under this promissory note. It is our intention to renew this note annually. Because there were no amounts outstanding on the note at any time during 2024 or 2023, we have recorded no related liability on our balance sheet.
[2] On December 21, 2021, the existing credit agreement with Libertyville was converted for use to support our obligations under our newly leased manufacturing and warehouse space in Bolingbrook, Illinois. Interest on drawn balances will be at the prime rate plus 1%. This credit agreement has a maturity of December 22, 2025. We expect to renew this agreement annually, as the lease requires. This credit agreement is secured by all the unencumbered assets of the Company and has superior collateral rights to those credit facilities with Beachcorp, LLC and Strandler, LLC.
[3] On January 28, 2022, the Company entered into an Amended and Restated Business Loan Agreement (the “A&R Loan Agreement”), which amends and restates the Master Agreement between the Company and Beachcorp, LLC, and a new promissory note in order to evidence the A/R Revolver facility, including an amendment to expand the limit on the A/R Revolver Facility from $6,000 to $8,000, reduce the interest rate to the prime rate plus 0.75%, and extend the maturity of the A/R Revolver Facility to March 31, 2024. On March 1, 2024, the Company entered into a Second Amendment to the Amended and Restated Business Loan Agreement extending the maturity of the A/R Revolver Facility to October 1, 2025. On May 27, 2025, the Company entered into a Third Amendment to the Amended and Restated Business Loan Agreement to expand the limit on the A/R Revolver Facility from $8,000 to $12,000, and extend its maturity to April 30, 2027. On September 30, 2026, the Company entered into a Fourth Amendment to the Amended and Restated Business Loan Agreement to extend its maturity to May 31, 2028.
[4] On January 28, 2022, the Company entered into the A&R Loan Agreement and a new revolving loan agreement (“Inventory Facility”) with Beachcorp, LLC, and a new promissory note in order to evidence the Inventory Facility. The maximum borrowing amount under the Inventory Facility was $4,000, with a borrowing base consisting of up to 50% of the value of qualified inventory of the Company. The interest rate for the Inventory Revolver is at the prime rate plus 0.75%, and it was set to mature on March 31, 2024. On November 13, 2023, the Company entered into a Replacement Promissory Note with Beachcorp, LLC replacing the Inventory Facility promissory note executed on January 28, 2022. The maximum borrowing amount under the replacement Inventory Facility was increased to $5,200, with a borrowing base consisting of up to 55% of the value of qualified inventory of the Company. The interest rate for the replacement Inventory Revolver remains at the prime rate plus 0.75%. On March 1, 2024, the company entered into a Second Amendment to the Business Loan Agreement extending the maturity of the Inventory Revolver Facility to October 1, 2025. On May 27, 2025, the Company entered into a Third Amendment to the Business Loan Agreement to expand the limit on the Inventory Revolver Facility from $5,200 to $10,000, and extend its maturity to April 30, 2027. On September 30, 2026, the Company entered into a Fourth Amendment to the Business Loan Agreement to extend its maturity to May 31, 2028. As described above in Note 3 (Restatement of Previously Issued Consolidated Financial Statements), the Company recently identified errors in its historical accounting for labor and overhead included in inventories. As a result, inventories were overstated in past borrowing base calculations under the Inventory Facility. Effective and dated as of August 17, 2026, Beachcorp, LLC provided a waiver of all breaches, defaults and events of default under the Inventory Facility as a result of the inventory related accounting matters described in Note 3, with respect to up to $3,000 per occurrence, of over-advances on the Inventory Revolving Loans. The Company does not expect there to be any prospective impact on the compliance or availability of the Inventory Facility.
[5] On January 28, 2022, the Company entered into an additional Business Loan Agreement (the “New Term Loan Agreement”) with Strandler, LLC, which effectively transferred or assigned the Term Loan to Strandler, LLC from Beachcorp, LLC. Interest on the New Term Loan is at the prime rate plus 0.75%. Strandler, LLC is also an affiliate of Bradford T. Whitmore. On March 1, 2024, the company entered into a Second Amendment to the Business Loan Agreement extending the maturity of the Term Maturity Note to October 1, 2025. On May 27, 2025, the Company entered into a Third Amendment to the Business Loan Agreement extending the maturity of the Term Maturity Note to April 30, 2027. On September 30, 2026, the Company entered into a Fourth Amendment to the Business Loan Agreement extending the maturity of the Term Maturity Note to May 31, 2028. On November 4, 2026, Strandler, LLC assigned to Whitmore Holdings, LLC all of its rights as a lender under the New Term Loan agreement.
[6] On November 13, 2023, the Company entered into a new Promissory Note (the “Bridge Note”) with Strandler, LLC. The maximum borrowing amount under the Bridge Note was $2,000. The interest rate for the Bridge Note was at the prime rate plus 0.75%, and it was to mature on May 13, 2024. The Bridge Note was repaid in February 2024.