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slsn:SellingGeneralAndAdministrativeOtherExpenseMember 2024-01-01 2024-12-31 0000883107 slsn:SellingGeneralAndAdministrativeOtherExpenseMember 2023-01-01 2023-12-31 0000883107 us-gaap:NonUsMember 2024-01-01 2024-12-31 0000883107 us-gaap:NonUsMember 2023-01-01 2023-12-31 0000883107 slsn:ConsumerProductsMember 2024-01-01 2024-12-31 0000883107 slsn:ConsumerProductsMember 2023-01-01 2023-12-31 0000883107 slsn:PersonalCareIngredientsMember 2024-01-01 2024-12-31 0000883107 slsn:PersonalCareIngredientsMember 2023-01-01 2023-12-31 0000883107 slsn:AdvancedMaterialsMember 2024-01-01 2024-12-31 0000883107 slsn:AdvancedMaterialsMember 2023-01-01 2023-12-31 iso4217:USD shares iso4217:USD shares pure true 2024 FY --12-31 0000883107 SOLESENCE, INC. 10-K/A true 2024-12-31 false 000-22333 DE 36-3687863 1319 Marquette Drive Romeoville IL 60446 (630) 771-6708 Common Stock, $0.01 par value per share SLSN NASDAQ No No Yes Yes Non-accelerated Filer true false false true false false 27254231 70103279 None. This Amendment No. 1 on Form 10-K/A (this “Amendment”) amends our Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was originally filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2025 (the “Original Filing”). We are filing this Amendment to restate our audited consolidated financial statements and related financial information for the fiscal year ended December 31, 2024, and to present our corrected financial statements for 2023, including disclosures regarding the impact of those corrections. 2026-08-17 252785 The recoverable amount is based on the Compensation Committee having awarded incentive compensation for fiscal year 2024 by applying minimum income-related thresholds to its performance metrics for any incentive compensation to be awarded. The Committee determined that the recalculated income-related results for fiscal year 2024 were below these thresholds. The Committee then further determined that the entire <span class="xdx_phnt_RGlzY2xvc3VyZSAtIFJlY292ZXJ5IG9mIEVycm9uZW91c2x5IEF3YXJkZWQgQ29tcGVuc2F0aW9uAA__" id="xdx_900_eecd--AggtErrCompAmt_iBI_c20241231__ecd--RestatementDateAxis__2026-08-17_z0jF1z9IpqY9">$252,785</span> amount of incentive compensation awarded to and received by the executive officers was therefore subject to clawback recovery. The recoverable amount was determined without regard to taxes paid by the affected executive officers. 252785 158447 49 <p id="xdx_808_edei--AuditorOpinionTextBlock_zz51gfigdrTg" style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">Opinion on the Financial Statements</p> <p style="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">We have audited the accompanying consolidated balance sheets of Solesence, Inc. and its subsidiaries, formerly known as Nanophase Technologies Corporation, (the Company) as of December 31, 2024 and 2023, the related consolidated statements of operations, stockholders’ equity and cash flows for the years then ended, and the related notes to the consolidated financial statements (collectively, the financial statements). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2024 and 2023, and the results of its operations and its cash flows for the years then ended, in conformity with accounting principles generally accepted in the United States of America.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> RSM US LLP Milwaukee, Wisconsin 1409000 1722000 5655000 3692000 786000 225000 4869000 3467000 15616000 8516000 2803000 1082000 24697000 14787000 12734000 8668000 7917000 7907000 3000 4000 45351000 31366000 2810000 4000000 2000000 1000000 1260000 1297000 9093000 6260000 5571000 2353000 4849000 869000 25773000 15589000 9037000 9152000 5000000 1000000 246000 238000 9283000 15390000 0.01 0.01 24088 24088 0 0 0 0 0.01 0.01 95000000 60000000 70103279 70103279 49627254 49627254 700000 496000 114674000 106069000 -105079000 -106178000 10295000 387000 45351000 31366000 51890000 36641000 457000 656000 52347000 37297000 39295000 30019000 13052000 7278000 3837000 3837000 7219000 7534000 1996000 -4093000 670000 838000 1326000 -4931000 227000 6000 1099000 -4937000 0.02 -0.10 62350459 49556305 0.02 -0.10 65028815 49556305 49320680 493000 105226000 -100070000 5649000 -968000 -968000 49320680 493000 105226000 -101038000 4681000 -203000 -203000 306574 3000 151000 154000 773000 773000 81000 81000 -4937000 -4937000 49627254 496000 106069000 -106178000 387000 387000 20476025 204000 7880000 8084000 725000 725000 1099000 1099000 1099000 70103279 700000 114674000 -105079000 10295000 10295000 1099000 -4937000 928000 742000 725000 773000 1402000 -1064000 7100000 645000 1721000 216000 2399000 -503000 3218000 165000 3988000 -146000 -163000 1697000 1971000 -2006000 4558000 1051000 -4558000 -1051000 2810000 1472000 -1000000 2000000 2000000 1346000 3338000 6000000 2084000 73000 2274000 2593000 -313000 -464000 1722000 2186000 1409000 1722000 637000 752000 434000 400000 6000000 1019000 182000 <p id="xdx_803_eus-gaap--NatureOfOperations_zRq4mmzC7Ai" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.5in"><span style="font-size: 10pt"><b>(1)</b></span></td> <td id="xdx_821_znHjbbrSuUq6" style="text-align: justify"><span style="font-size: 10pt"><b>Description of Business</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Nanophase Technologies Corporation, now known as Solesence, Inc. (“Solésence,” “Company,” “we,” “our,” or “us”), is a science-driven company which, along with its wholly owned subsidiary, Solésence, LLC (our “Solésence consumer products subsidiary”), is focused in various skin health- and beauty- markets.  Using consumer health as our end-goal and science and innovation to guide the path, skin health and medical diagnostics combined currently make up the great majority of our business and drive our forward growth strategy.  We offer engineered materials, formulation development and commercial manufacturing through an integrated family of technologies. Our expertise in materials engineering allows us to effectively coat and disperse particles on a nano and “non-nano” scale for use in a variety of skin health markets, including for use in sunscreens as active ingredients and as fully developed prestige skin care and cosmetics products, marketed and sold through our consumer products line.  Additionally, we continue to sell products in legacy markets, including medical diagnostics, architectural coatings, industrial coating applications, abrasion-resistant additives, and plastics additives, all of which fall into the advanced materials product category. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> We target markets<span style="text-decoration: line-through">,</span> primarily related to skin health products and ingredients where we believe our materials and products offer practical and competitive minerals-based solutions. We traditionally work closely with current customers in these target markets to identify their material and performance requirements. We market our Solésence® products to cosmetics and skin care brands, and our other materials to various end-use applications manufacturers.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Recently developed technologies have made certain new products possible and opened potential new markets. During 2015 we were granted a patent on a new type of particle surface treatment (coating) — now called Original Active Stress Defense ™ Technology — which has become the cornerstone of our new product development in consumer products line, with first revenue recognized during 2016. Active Stress Defense™ now refers to a suite of three proprietary technologies — Original Active Stress Defense™, Kleair™, and Bloom™ — all three of which either utilize a unique and proprietary, mineral-based technology or work synergistically with one of our unique and proprietary, mineral-based technologies to improve performance and/or aesthetics. Our ongoing innovation efforts include new IP in areas that advance environmental protection, align with market needs, and complement our existing technologies Through the creation of our consumer products line, we utilize our technology suite to manufacture and sell fully developed solutions to targeted customers in the skin care industry, typically in prestige skin care and cosmetics markets, in addition to the ingredients we have traditionally sold in the personal care area. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Although our primary strategic focus has been the North American market, we currently sell materials to customers overseas and have been working to expand our reach within foreign markets. Our common stock trades on the OTCQB marketplace under the symbol NANX. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">While product sales comprise the majority of our revenue, we also recognize revenue from other sources from time to time. These activities are not expected to drive the long-term growth of the business. For this reason, we classify such revenue as “other revenue” in our Consolidated Statements of Operations, as it does not represent revenue directly from the sale of our products. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company recorded net income, as restated, of <span id="xdx_906_eus-gaap--NetIncomeLoss_pn3n3_c20240101__20241231_zX24oA1p48di" title="Net income">$1,099</span> and positive cash flow from operations in 2024. At December 31, 2024, current liabilities exceeded current assets, as restated, by <span id="xdx_908_ecustom--CurrentAssetsLiabilitiesNet_iNI_pn3n3_di_c20241231_zO8qyF5kTLc2">$1,076</span>.  In addition, the company reduced outstanding debt. As explained in Note 4, the Company’s debt has been refinanced to extend maturity to May 31, 2028. Management believes that current liquidity and expected borrowing capacity are sufficient to fund operations and substantial doubt is not raised regarding the Company's ability to continue as a going concern. See Note 4 for additional information.</p> 1099000 -1076000 <p id="xdx_808_eus-gaap--SignificantAccountingPoliciesTextBlock_zFvyCR8slvvk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.5in"><span style="font-size: 10pt"><b>(2)</b></span></td> <td id="xdx_828_zGR8vskFnDd8" style="text-align: justify"><span style="font-size: 10pt"><b>Summary of Significant Accounting Policies</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_840_eus-gaap--UseOfEstimates_zITeYD2mS0G5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86E_zpxV4p46iJ78">Use of Estimates and Risks and Uncertainties</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Certain assumptions are also necessary to assess the impact of risks and uncertainties on the financial statements, such as cash flow projections, availability of capital if needed to support the ongoing operations of the business, and our expected compliance with contractual commitments. These risks and uncertainties are further discussed in Note 13. Any changes in these assumptions or business plans could have a material impact on the financial statements.</p> <p id="xdx_852_zL44h7k6WJna" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_84D_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zOUsuCwxUX1k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86E_z5wx5PVSyjF8">Cash</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Cash balance on December 31, 2024 consists of funds borrowed from our Revolving Line of Credit, which is facilitated by Beachcorp, LLC. Our ability to access cash from our credit facilities depends on carrying an Accounts Receivable or Inventory balance greater than the outstanding loan balances in the Revolving Lines of Credit. As part of the agreement, we are required to have a bank account in place to act as a depository account for our customers. This account is referred to as the Control Account. Furthermore, there is an Account Control Agreement in place which provides Beachcorp, LLC the ability to exercise control over the account via approval of requested transfers. According to our agreements with Beachcorp, LLC, Solésence is to be the party initiating any transfers, whether to Solésence or to Beachcorp, LLC, and approval to access any monies within this account can only be withheld by Beachcorp, LLC if the borrowing base falls below the Company’s qualified receivables, or if we are in arrears with respect to interest payments due Beachcorp, LLC. The failure of Solésence to remedy the previously mentioned conditions could lead to Beachcorp, LLC gaining the right, through a “springing” feature administered by Libertyville Bank and Trust, a Wintrust Community Bank (“Libertyville”), to transfer funds to itself without direct approval from Solésence.  Cash is held at a federally insured institution, but our cash balances at times exceed insured limits. The Company has not experienced any losses related to these statutory limits.</p> <p id="xdx_856_zINV6MsNAltj" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_84F_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zM0XpZ2JC3Ch" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <b><span id="xdx_863_znUQgcHD96li">Trade Accounts Receivable, Net</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_89C_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zTVAKf5aAG04" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Trade accounts receivable are carried at original invoice amount less an estimate made for future credit losses based on a review of all outstanding amounts on a monthly basis, and written off when deemed uncollectible <span id="xdx_8BE_z7q2721nOWp7">We determine the allowance for credit losses by identifying troubled accounts and by using historical experience applied to an aging of accounts, as well as expected losses based on the current and anticipated macroeconomic environment.</span> Recoveries of trade accounts receivable previously written off are recorded when received. Our typical credit terms are between thirty and sixty days from shipment and invoicing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" id="xdx_49E_20240101__20241231_zuSqXCfrzat7" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2024</b></span></td> <td> </td> <td> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zYHuZdu7pBN7" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2023</b></span></td> <td> </td></tr> <tr id="xdx_404_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_pn3n3_zG8EKJyZMqKj" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Balance, beginning</span></td> <td> </td> <td style="vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="vertical-align: top; text-align: right"><span style="font-size: 10pt">225</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="vertical-align: top; text-align: right"><span style="font-size: 10pt">139</span></td></tr> <tr id="xdx_407_eus-gaap--ProvisionForDoubtfulAccounts_pn3n3_zx1vRBMVU5ff" style="background-color: White"> <td style="vertical-align: bottom; width: 74%; padding-left: 0.125in"><span style="font-size: 10pt">Current period provisions</span></td> <td style="width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 10%; text-align: right"><span style="font-size: 10pt">564</span></td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 10%; text-align: right"><span style="font-size: 10pt">95</span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_40A_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_iN_pn3n3_di_zhM4ae3zUyua" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-left: 0.125in"><span style="font-size: 10pt">Write offs</span></td> <td> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 10pt">(3)</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 10pt">(9)</span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_403_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_pn3n3_zWeFRoMCLE98" style="background-color: White"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Balance, ending</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">786</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">225</span></td> <td style="vertical-align: bottom"> </td></tr> </table> <p id="xdx_8AB_z6AP6O1pttMg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <p id="xdx_854_zdQgtXCAKWx3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_842_eus-gaap--InventoryPolicyTextBlock_zBAIHZV1Eq4c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_867_zIQ6uuc8qiS9">Inventories, Net</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Inventories are stated at the lower of cost, maintained on an average cost basis, or net realizable value. Cost includes applicable direct costs and allocated manufacturing overhead. The inventory-costing correction is described in Note 3. We have recorded allowances to reduce inventory relating to excess quantities of certain materials. Write-downs of inventories establish a new cost basis, which is not increased for future increases in market value of inventories or changes in estimated excess quantities.</p> <p id="xdx_851_zRH4T3nvFu4g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_84F_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zlX1UqEPiXt1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86F_zzCO7LnpOUi8">Equipment and Leasehold Improvements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Equipment is stated at cost and is being depreciated over its estimated useful life (<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zGHV6i6ivc8e" title="Equipment leasehold improvements and leased assets useful life">3</span>-<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zWZVN36j42i5" title="Equipment leasehold improvements and leased assets useful life">20</span> years) using the straight-line method. Leasehold improvements are stated at cost and are being amortized using the straight-line method over the shorter of the useful life of the asset or the term of the lease (<span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MinimumMember_z2zYXfDNZP1d" title="Equipment leasehold improvements and leased assets useful life">3</span>-<span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MaximumMember_zeyX0uuF74Z6" title="Equipment leasehold improvements and leased assets useful life">7</span> years). Depreciation expense for leased assets is included with depreciation expense for owned assets. From time to time we have self-constructed assets. These assets are stated at cost plus the capitalization of labor and are depreciated over an estimated useful life (<span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherCapitalizedPropertyPlantAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_z6W1xnQZIHnh" title="Equipment leasehold improvements and leased assets useful life">7</span>-<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherCapitalizedPropertyPlantAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zTTHJC8F9r29" title="Equipment leasehold improvements and leased assets useful life">10</span> years) using the straight-line method.</p> <p id="xdx_85C_z3m56OwThNj8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_845_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zlNUt5q5oOlh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86F_zgwUgMs888y7">Long Lived Assets</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We review long-lived assets for impairment whenever events or changes in circumstances indicate that the asset’s carrying amount may not be recoverable. We conduct long-lived asset impairment analyses in accordance with ASC 360-10-15, <i>Impairment or Disposal of Long-Lived Assets</i>. ASC 360-10-15 requires us to group assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities and evaluate the asset group against the sum of the undiscounted future cash flows. If the undiscounted cash flows do not indicate the carrying amount of the asset is recoverable, an impairment charge is measured as the amount by which the carrying amount of the asset group exceeds its fair value based on discounted cash flow analysis or appraisals. Based upon our analysis, there were no impairment charges recognized in either period presented.</p> <p id="xdx_854_zqXsj1g9PTkh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_84A_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zs7m7KZDRCy2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_867_z6ZOoQCCFYrc">Deferred Revenue</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company records a contract liability for development projects due to the contractual billing of these projects not always aligning with revenue recognition. In addition, it is now the Company’s policy to frequently require deposits relating to the production of our Solésence products. Of the total $<span id="xdx_90F_eus-gaap--DeferredIncome_iI_pn3n3_c20241231_zHlMSxZye0Z1" title="Deferred revenue">5,571</span> in deferred revenue reported in 2024, <span id="xdx_903_ecustom--PercentageOfPrepayments_iI_pid_dp_uPure_c20241231__us-gaap--RelatedPartyTransactionAxis__custom--PrepaymentsFromCertainCustomersPerCompanyPolicyMember_zFlIcKeKjduk">99%</span> related to prepayments received from certain customers per Company policy, and the remaining <span id="xdx_90B_ecustom--PercentageOfPrepayments_iI_pid_dp_uPure_c20241231__us-gaap--RelatedPartyTransactionAxis__custom--PrepaymentsFromProductDevelopmentAgreementWithAPersonalCareIngredientCustomerMember_zyOb5MoMVz97">1</span>% related to prepayments from a product development agreement with a personal care ingredient customer.</p> <p id="xdx_85F_zhltFysNjYW8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_84B_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zVPePqE7Wl81" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_867_zRh5a08hW82a">Financial Instruments</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We follow ASC Topic 820, <i>Fair Value Measurements and Disclosures</i>, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our financial instruments include cash, accounts receivable, accounts payable and accrued expenses, along with any short-term and long-term borrowings as described in Note 4. The carrying values of cash and cash equivalents, accounts receivable, and accounts payable and accrued expenses are reasonable estimates of their fair value due to the short-term nature. The fair value of short-term and long-term debt approximates carrying value based on comparison of terms to similar debt offering in the marketplace.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There were no financial instruments adjusted to fair value on December 31, 2024 and 2023.</p> <p id="xdx_85B_zcqIVSjHFRQ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_844_eus-gaap--RevenueRecognitionPolicyTextBlock_zEnMC39BNwed" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_864_zcPKSGR39t06">Product Revenue</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Revenues are recognized when control of the promised goods is transferred to customers, in an amount that reflects the consideration we expect to receive in exchange for those goods. When our ingredients and finished products are shipped, with control being transferred at the shipping point, is the point in time at which we recognize the related revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within selling, general and administrative expenses. Customers’ deposits, deferred revenue and other receipts are deferred and recognized when the revenue is realized and earned. Cash payments to customers are classified as reductions of revenue in our statements of operations. For select customers the Company may pay volume rebates which are variable in nature due the amount the select customer will take. In 2024 one customer earned a volume rebate of $<span id="xdx_906_ecustom--VolumeRebates_pn3n3_c20240101__20241231_zmhetucBzRF4" title="Volume rebate">35</span>. In 2023 no volume rebates were recorded because the customers did not meet required volumes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As part of the sales process, it is common for the Company to receive customer deposits. These deposits are typically held for less than a year and do not result in a financing component to the sales. The customer deposits are recognized as revenue when the Company ships the finished goods to the customer. Revenue is recognized when the goods are shipped</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will for some customers arrange for the shipping of the finished goods. Revenues and costs associated with the shipment of the finished goods are recorded separately within product revenue and cost of revenue, respectively, on the consolidation statement of operations.  With regard to revenue recognition, shipping activities that occur prior to the customers’ obtaining control of the goods are not a promised service to the customer, but rather activities to fulfill the Company’s promise to transfer the goods. As such, these activities are not deemed a performance obligation requiring allocation of the transaction price. Similarly, shipping activities that occur after the customers’ obtaining control of the goods are, as a matter of policy, also not a promised service to the customer, but rather an activity to fulfill the Company’s promise to transfer the good.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_89F_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zuSdWZ6A81n3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B2_zcpdxDM5ozy2">Contract balances for the years ended December 31, 2024, 2023, and 2022 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accounts<br/> Receivable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Contract<br/> Liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 69%; text-align: left">2022</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20221231_zQIrgbpLBkV3" style="width: 12%; text-align: right">4,734</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_c20221231_zNmb4q4vQiQk" style="width: 12%; text-align: right">2,188</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2023</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20231231_zqZbcwPNphE6" style="text-align: right">3,467</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_c20231231_zKU483tiBVM8" style="text-align: right">2,353</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20241231_zqTGqyKNQsXf" style="text-align: right" title="Accounts receivable, net">4,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_c20241231_zx9FoAQP1qC8" style="text-align: right" title="Contract liabilities">5,571</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A3_zsShU5GF2jm3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Revenue recognized in the reporting period that was included in the contract liability balance at the beginning of the period was $<span id="xdx_90D_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn3n3_c20240101__20241231_zNP0BCCAa465" title="Revenue recognized in the reporting period included in contract liability balance at beginning of period">2,074</span> and $<span id="xdx_901_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn3n3_c20230101__20231231_zfwLkzV5LLD8" title="Revenue recognized in the reporting period included in contract liability balance at beginning of period">2,084</span> for the years ended December 31, 2024, and 2023, respectively.</p> <p id="xdx_855_zAVJlrt0Gjs2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <div style="text-align: left; margin-top: 1pt; margin-bottom: 1pt"><div style="border-top: Black 0.75pt solid; font-size: 1pt; width: 100%"> </div></div> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p id="xdx_84C_ecustom--OtherRevenuePolicyTextBlock_zNbIY7vkw0Rg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_860_zgYneu1O2aA3">Other Revenue</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Other revenue may include revenue from technology license fees and paid development projects. Technology license fees and paid development projects are recognized over time when the obligations under the agreed upon contractual arrangements are performed on our part.  Revenue recognized over time was $<span id="xdx_905_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20240101__20241231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_z9e1IZl7dMIe" title="Revenue">457</span> and $<span id="xdx_903_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zgTtRnp08hEh" title="Revenue">656</span> for the years ended December 31, 2024 and 2023, respectively.</p> <p id="xdx_85F_z5ZWDlj2NAI1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p id="xdx_848_eus-gaap--ResearchAndDevelopmentExpensePolicy_zjzZjCIRSisd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86B_zVJ1SwgnkHTj">Research and Development Expenses</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Research and development expenses are recognized as expense when incurred.</p> <p id="xdx_856_zO4J1lt8rHUc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_847_eus-gaap--IncomeTaxPolicyTextBlock_zaSRfB3W0J5b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_863_zpCqF5tCCwed">Income Taxes</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We account for income taxes using the asset-and-liability approach. As such, deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are calculated using the enacted tax rates and laws that are expected to be in effect when the anticipated reversal of these differences is scheduled to occur. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some or all of the deferred tax assets will not be realized.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured, as described above, is reflected as a liability for uncertain tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have not recorded a reserve for any tax positions for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. We file tax returns in all appropriate jurisdictions, which includes a federal tax return and Illinois state tax return. When and if applicable, potential interest and penalty costs are accrued as incurred, with expenses recognized in selling, general and administrative expenses in the statements of operations. As of December 31, 2024, and 2023, we had no liability for unrecognized tax benefits.</p> <p id="xdx_854_zYtEJnkxug3g" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_845_eus-gaap--EarningsPerSharePolicyTextBlock_zPEPs3HqjPk4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86E_z0FAjhm9GKBk">Earnings Per Share</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Included in the computation of diluted earnings per share for the year ended December 31, 2024, was a total of <span id="xdx_904_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_pid_uShares_c20240101__20241231_zsM50Uc3akLl" title="Potential common stock included in computation of diluted earnings per share">2,678,000</span> in potential shares of common stock. Options to purchase approximately <span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_uShares_c20230101__20231231_zhYIIy4F2qKg" title="Anti-dilutive pptions excluded from computation of earnings per share">889,000</span> shares of common stock that were outstanding as of December 31, 2023 were not included in the computation of earnings per share for the year ended December 31, 2023, as they would have been anti-dilutive owing to the loss reported for the period. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p id="xdx_89F_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zovZy2ItH3a6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span id="xdx_8BC_zTK1glRDJoq3">Earnings applicable to common stock and common stock shares used in the calculation of basic and diluted earnings per share are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 95%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td style="border-bottom: black 1pt solid; text-align: center"> </td> <td id="xdx_497_20240101__20241231_zcI6boTqYKH" style="border-bottom: black 1pt solid; text-align: center"> </td> <td style="border-bottom: black 1pt solid; text-align: center"> </td> <td colspan="3" id="xdx_49B_20230101__20231231_zpcJFftIa3Jc" style="border-bottom: black 1pt solid; text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Years Ended December 31,</b></span></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2024</b></span><br/> <span style="font-size: 10pt"><b>(As Restated)</b></span></td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2023</b></span><br/> <span style="font-size: 10pt"><b>(As Restated)</b></span></td> <td> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasicAbstract_iB_z0ZtwYUrUNP8" style="vertical-align: bottom"> <td><span style="font-size: 10pt"><span style="text-decoration: underline">Numerator: (in Thousands)</span></span></td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr id="xdx_40A_eus-gaap--NetIncomeLoss_i01_pn3n3_ztJvlWYMos08" style="background-color: #CCEEFF"> <td style="vertical-align: bottom; width: 76%"><span style="font-size: 10pt">Net income (loss)</span></td> <td style="width: 1%"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 1%"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><span style="font-size: 10pt">1,099</span></td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="width: 1%"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 1%"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><span style="font-size: 10pt">(4,937</span></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 2pt"><span style="font-size: 10pt">)</span></td></tr> <tr> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_40E_eus-gaap--WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract_iB_zs4XdeN0Qqya" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt"><span style="text-decoration: underline">Denominator</span>:</span></td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_404_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_pid_uShares_maEPS_zf8rgjlbPpQf"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Weighted average number of basic common shares outstanding</span></td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-size: 10pt">62,350,459</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-size: 10pt">49,556,305</span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_402_eus-gaap--IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_i01_pid_uShares_maEPS_zlovAq9BJDi4" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Weighted average additional shares assuming conversion of in-the-money stock options to common shares</span></td> <td> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">2,678,356</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0549">—</span></span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_406_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i01T_pid_uShares_mtEPS_zcw2uVzhSSQd"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Weighted average number of diluted common shares outstanding</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">65,028,815</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">49,556,305</span></td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareBasicAbstract_iB_zhkqYrkA2xVg"> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"><span style="font-size: 10pt"><span style="text-decoration: underline">Basic earnings per common share:</span></span></td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt; text-align: right"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt; text-align: right"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_eus-gaap--EarningsPerShareBasic_i01_pid_uUSDPShares_z4LlpbnjubJk" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Net income (loss) per share – basic</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">0.02</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">(0.10</span></td> <td style="vertical-align: bottom; padding-bottom: 2pt"><span style="font-size: 10pt">)</span></td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareDilutedAbstract_iB_zSeRRmlUht1f"> <td style="vertical-align: bottom"><span style="font-size: 10pt"><span style="text-decoration: underline">Diluted earnings per common share:</span></span></td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_408_eus-gaap--EarningsPerShareDiluted_i01_pid_uUSDPShares_zRhwI9XIlar4" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Net income (loss) per share – diluted</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">0.02</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">(0.10</span></td> <td style="vertical-align: bottom; padding-bottom: 2pt"><span style="font-size: 10pt">)</span></td></tr> </table> <p style="margin: 0"> </p> <p id="xdx_850_zGCtcwtcUypg" style="margin: 0"> </p> <p id="xdx_8AC_zlMrqK8nm9si" style="margin: 0"></p> <p style="margin: 0"> </p> <p id="xdx_840_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_z73Xulr6j495" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_86D_ziescewdlGTc">Recently Adopted Pronouncements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In November 2023 the FASB issued ASU 2023-07 “<i>Improvements to Reportable Segment Disclosures</i>”, which the Company adopted in 2024. The amendments in this Update improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision-useful financial analyses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Topic 280 requires that a public entity disclose certain information about its reportable segments. For example, a public entity is required to report a measure of segment profit or loss that the Chief Operating Decision Maker uses to assess segment performance and make decisions about allocating resources. Topic 280 also requires other specified segment items and amounts, such as depreciation, amortization, and depletion expense, to be disclosed under certain circumstances. The amendments in this Update do not change or remove those disclosure requirements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The amendments in this Update also do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Update did not have a significant impact on the Company.</p> <p id="xdx_855_zOoBZuCUH0s3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_845_ecustom--RecentlyIssuedPronouncementsPoliciesTextBlock_zX5YGkpKAwb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86F_zXNIcmzXFtXd">Recently Issued Pronouncements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 14, 2023 the FASB issued a final standard on improvements to income tax disclosures. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. ASU 2023-09, Improvements to Income Tax Disclosures, applies to all entities subject to income taxes. This new requirement will be effective for Solésence for annual periods beginning December 31, 2025. The Company is currently evaluating the impact of the adoption of this standard on the consolidated financial statements.</p> <p id="xdx_857_zckpRBXoEsTl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p id="xdx_840_eus-gaap--UseOfEstimates_zITeYD2mS0G5" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86E_zpxV4p46iJ78">Use of Estimates and Risks and Uncertainties</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The preparation of financial statements requires us to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Certain assumptions are also necessary to assess the impact of risks and uncertainties on the financial statements, such as cash flow projections, availability of capital if needed to support the ongoing operations of the business, and our expected compliance with contractual commitments. These risks and uncertainties are further discussed in Note 13. Any changes in these assumptions or business plans could have a material impact on the financial statements.</p> <p id="xdx_84D_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zOUsuCwxUX1k" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86E_z5wx5PVSyjF8">Cash</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Cash balance on December 31, 2024 consists of funds borrowed from our Revolving Line of Credit, which is facilitated by Beachcorp, LLC. Our ability to access cash from our credit facilities depends on carrying an Accounts Receivable or Inventory balance greater than the outstanding loan balances in the Revolving Lines of Credit. As part of the agreement, we are required to have a bank account in place to act as a depository account for our customers. This account is referred to as the Control Account. Furthermore, there is an Account Control Agreement in place which provides Beachcorp, LLC the ability to exercise control over the account via approval of requested transfers. According to our agreements with Beachcorp, LLC, Solésence is to be the party initiating any transfers, whether to Solésence or to Beachcorp, LLC, and approval to access any monies within this account can only be withheld by Beachcorp, LLC if the borrowing base falls below the Company’s qualified receivables, or if we are in arrears with respect to interest payments due Beachcorp, LLC. The failure of Solésence to remedy the previously mentioned conditions could lead to Beachcorp, LLC gaining the right, through a “springing” feature administered by Libertyville Bank and Trust, a Wintrust Community Bank (“Libertyville”), to transfer funds to itself without direct approval from Solésence.  Cash is held at a federally insured institution, but our cash balances at times exceed insured limits. The Company has not experienced any losses related to these statutory limits.</p> <p id="xdx_84F_eus-gaap--TradeAndOtherAccountsReceivablePolicy_zM0XpZ2JC3Ch" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> <b><span id="xdx_863_znUQgcHD96li">Trade Accounts Receivable, Net</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_89C_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zTVAKf5aAG04" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Trade accounts receivable are carried at original invoice amount less an estimate made for future credit losses based on a review of all outstanding amounts on a monthly basis, and written off when deemed uncollectible <span id="xdx_8BE_z7q2721nOWp7">We determine the allowance for credit losses by identifying troubled accounts and by using historical experience applied to an aging of accounts, as well as expected losses based on the current and anticipated macroeconomic environment.</span> Recoveries of trade accounts receivable previously written off are recorded when received. Our typical credit terms are between thirty and sixty days from shipment and invoicing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" id="xdx_49E_20240101__20241231_zuSqXCfrzat7" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2024</b></span></td> <td> </td> <td> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zYHuZdu7pBN7" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2023</b></span></td> <td> </td></tr> <tr id="xdx_404_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_pn3n3_zG8EKJyZMqKj" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Balance, beginning</span></td> <td> </td> <td style="vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="vertical-align: top; text-align: right"><span style="font-size: 10pt">225</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="vertical-align: top; text-align: right"><span style="font-size: 10pt">139</span></td></tr> <tr id="xdx_407_eus-gaap--ProvisionForDoubtfulAccounts_pn3n3_zx1vRBMVU5ff" style="background-color: White"> <td style="vertical-align: bottom; width: 74%; padding-left: 0.125in"><span style="font-size: 10pt">Current period provisions</span></td> <td style="width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 10%; text-align: right"><span style="font-size: 10pt">564</span></td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 10%; text-align: right"><span style="font-size: 10pt">95</span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_40A_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_iN_pn3n3_di_zhM4ae3zUyua" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-left: 0.125in"><span style="font-size: 10pt">Write offs</span></td> <td> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 10pt">(3)</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 10pt">(9)</span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_403_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_pn3n3_zWeFRoMCLE98" style="background-color: White"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Balance, ending</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">786</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">225</span></td> <td style="vertical-align: bottom"> </td></tr> </table> <p id="xdx_8AB_z6AP6O1pttMg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></p> <p id="xdx_89C_eus-gaap--AccountsReceivableAllowanceForCreditLossTableTextBlock_zTVAKf5aAG04" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Trade accounts receivable are carried at original invoice amount less an estimate made for future credit losses based on a review of all outstanding amounts on a monthly basis, and written off when deemed uncollectible <span id="xdx_8BE_z7q2721nOWp7">We determine the allowance for credit losses by identifying troubled accounts and by using historical experience applied to an aging of accounts, as well as expected losses based on the current and anticipated macroeconomic environment.</span> Recoveries of trade accounts receivable previously written off are recorded when received. Our typical credit terms are between thirty and sixty days from shipment and invoicing.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" id="xdx_49E_20240101__20241231_zuSqXCfrzat7" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2024</b></span></td> <td> </td> <td> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zYHuZdu7pBN7" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2023</b></span></td> <td> </td></tr> <tr id="xdx_404_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iS_pn3n3_zG8EKJyZMqKj" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Balance, beginning</span></td> <td> </td> <td style="vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="vertical-align: top; text-align: right"><span style="font-size: 10pt">225</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="vertical-align: top; text-align: right"><span style="font-size: 10pt">139</span></td></tr> <tr id="xdx_407_eus-gaap--ProvisionForDoubtfulAccounts_pn3n3_zx1vRBMVU5ff" style="background-color: White"> <td style="vertical-align: bottom; width: 74%; padding-left: 0.125in"><span style="font-size: 10pt">Current period provisions</span></td> <td style="width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 10%; text-align: right"><span style="font-size: 10pt">564</span></td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="width: 1%"> </td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="vertical-align: top; width: 10%; text-align: right"><span style="font-size: 10pt">95</span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_40A_eus-gaap--AllowanceForDoubtfulAccountsReceivableWriteOffs_iN_pn3n3_di_zhM4ae3zUyua" style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-left: 0.125in"><span style="font-size: 10pt">Write offs</span></td> <td> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 10pt">(3)</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: top; text-align: right"><span style="font-size: 10pt">(9)</span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_403_eus-gaap--AllowanceForDoubtfulAccountsReceivableCurrent_iE_pn3n3_zWeFRoMCLE98" style="background-color: White"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Balance, ending</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">786</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">225</span></td> <td style="vertical-align: bottom"> </td></tr> </table> 225000 139000 564000 95000 3000 9000 786000 225000 <p id="xdx_842_eus-gaap--InventoryPolicyTextBlock_zBAIHZV1Eq4c" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_867_zIQ6uuc8qiS9">Inventories, Net</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Inventories are stated at the lower of cost, maintained on an average cost basis, or net realizable value. Cost includes applicable direct costs and allocated manufacturing overhead. The inventory-costing correction is described in Note 3. We have recorded allowances to reduce inventory relating to excess quantities of certain materials. Write-downs of inventories establish a new cost basis, which is not increased for future increases in market value of inventories or changes in estimated excess quantities.</p> <p id="xdx_84F_eus-gaap--PropertyPlantAndEquipmentPolicyTextBlock_zlX1UqEPiXt1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86F_zzCO7LnpOUi8">Equipment and Leasehold Improvements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Equipment is stated at cost and is being depreciated over its estimated useful life (<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MinimumMember_zGHV6i6ivc8e" title="Equipment leasehold improvements and leased assets useful life">3</span>-<span id="xdx_907_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--EquipmentMember__srt--RangeAxis__srt--MaximumMember_zWZVN36j42i5" title="Equipment leasehold improvements and leased assets useful life">20</span> years) using the straight-line method. Leasehold improvements are stated at cost and are being amortized using the straight-line method over the shorter of the useful life of the asset or the term of the lease (<span id="xdx_902_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MinimumMember_z2zYXfDNZP1d" title="Equipment leasehold improvements and leased assets useful life">3</span>-<span id="xdx_90D_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember__srt--RangeAxis__srt--MaximumMember_zeyX0uuF74Z6" title="Equipment leasehold improvements and leased assets useful life">7</span> years). Depreciation expense for leased assets is included with depreciation expense for owned assets. From time to time we have self-constructed assets. These assets are stated at cost plus the capitalization of labor and are depreciated over an estimated useful life (<span id="xdx_90C_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherCapitalizedPropertyPlantAndEquipmentMember__srt--RangeAxis__srt--MinimumMember_z6W1xnQZIHnh" title="Equipment leasehold improvements and leased assets useful life">7</span>-<span id="xdx_90E_eus-gaap--PropertyPlantAndEquipmentUsefulLife_iI_dtY_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OtherCapitalizedPropertyPlantAndEquipmentMember__srt--RangeAxis__srt--MaximumMember_zTTHJC8F9r29" title="Equipment leasehold improvements and leased assets useful life">10</span> years) using the straight-line method.</p> P3Y P20Y P3Y P7Y P7Y P10Y <p id="xdx_845_eus-gaap--ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock_zlNUt5q5oOlh" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86F_zgwUgMs888y7">Long Lived Assets</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We review long-lived assets for impairment whenever events or changes in circumstances indicate that the asset’s carrying amount may not be recoverable. We conduct long-lived asset impairment analyses in accordance with ASC 360-10-15, <i>Impairment or Disposal of Long-Lived Assets</i>. ASC 360-10-15 requires us to group assets and liabilities at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities and evaluate the asset group against the sum of the undiscounted future cash flows. If the undiscounted cash flows do not indicate the carrying amount of the asset is recoverable, an impairment charge is measured as the amount by which the carrying amount of the asset group exceeds its fair value based on discounted cash flow analysis or appraisals. Based upon our analysis, there were no impairment charges recognized in either period presented.</p> <p id="xdx_84A_eus-gaap--RevenueFromContractWithCustomerPolicyTextBlock_zs7m7KZDRCy2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_867_z6ZOoQCCFYrc">Deferred Revenue</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company records a contract liability for development projects due to the contractual billing of these projects not always aligning with revenue recognition. In addition, it is now the Company’s policy to frequently require deposits relating to the production of our Solésence products. Of the total $<span id="xdx_90F_eus-gaap--DeferredIncome_iI_pn3n3_c20241231_zHlMSxZye0Z1" title="Deferred revenue">5,571</span> in deferred revenue reported in 2024, <span id="xdx_903_ecustom--PercentageOfPrepayments_iI_pid_dp_uPure_c20241231__us-gaap--RelatedPartyTransactionAxis__custom--PrepaymentsFromCertainCustomersPerCompanyPolicyMember_zFlIcKeKjduk">99%</span> related to prepayments received from certain customers per Company policy, and the remaining <span id="xdx_90B_ecustom--PercentageOfPrepayments_iI_pid_dp_uPure_c20241231__us-gaap--RelatedPartyTransactionAxis__custom--PrepaymentsFromProductDevelopmentAgreementWithAPersonalCareIngredientCustomerMember_zyOb5MoMVz97">1</span>% related to prepayments from a product development agreement with a personal care ingredient customer.</p> 5571000 0.99 0.01 <p id="xdx_84B_eus-gaap--FairValueOfFinancialInstrumentsPolicy_zVPePqE7Wl81" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_867_zRh5a08hW82a">Financial Instruments</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We follow ASC Topic 820, <i>Fair Value Measurements and Disclosures</i>, which defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The fair value framework requires the categorization of assets and liabilities into three levels based upon the assumptions (inputs) used to price the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3 generally requires significant management judgment.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our financial instruments include cash, accounts receivable, accounts payable and accrued expenses, along with any short-term and long-term borrowings as described in Note 4. The carrying values of cash and cash equivalents, accounts receivable, and accounts payable and accrued expenses are reasonable estimates of their fair value due to the short-term nature. The fair value of short-term and long-term debt approximates carrying value based on comparison of terms to similar debt offering in the marketplace.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">There were no financial instruments adjusted to fair value on December 31, 2024 and 2023.</p> <p id="xdx_844_eus-gaap--RevenueRecognitionPolicyTextBlock_zEnMC39BNwed" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_864_zcPKSGR39t06">Product Revenue</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Revenues are recognized when control of the promised goods is transferred to customers, in an amount that reflects the consideration we expect to receive in exchange for those goods. When our ingredients and finished products are shipped, with control being transferred at the shipping point, is the point in time at which we recognize the related revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We generally expense sales commissions when incurred because the amortization period would have been one year or less. These costs are recorded within selling, general and administrative expenses. Customers’ deposits, deferred revenue and other receipts are deferred and recognized when the revenue is realized and earned. Cash payments to customers are classified as reductions of revenue in our statements of operations. For select customers the Company may pay volume rebates which are variable in nature due the amount the select customer will take. In 2024 one customer earned a volume rebate of $<span id="xdx_906_ecustom--VolumeRebates_pn3n3_c20240101__20241231_zmhetucBzRF4" title="Volume rebate">35</span>. In 2023 no volume rebates were recorded because the customers did not meet required volumes.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As part of the sales process, it is common for the Company to receive customer deposits. These deposits are typically held for less than a year and do not result in a financing component to the sales. The customer deposits are recognized as revenue when the Company ships the finished goods to the customer. Revenue is recognized when the goods are shipped</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company will for some customers arrange for the shipping of the finished goods. Revenues and costs associated with the shipment of the finished goods are recorded separately within product revenue and cost of revenue, respectively, on the consolidation statement of operations.  With regard to revenue recognition, shipping activities that occur prior to the customers’ obtaining control of the goods are not a promised service to the customer, but rather activities to fulfill the Company’s promise to transfer the goods. As such, these activities are not deemed a performance obligation requiring allocation of the transaction price. Similarly, shipping activities that occur after the customers’ obtaining control of the goods are, as a matter of policy, also not a promised service to the customer, but rather an activity to fulfill the Company’s promise to transfer the good.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_89F_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zuSdWZ6A81n3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B2_zcpdxDM5ozy2">Contract balances for the years ended December 31, 2024, 2023, and 2022 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accounts<br/> Receivable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Contract<br/> Liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 69%; text-align: left">2022</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20221231_zQIrgbpLBkV3" style="width: 12%; text-align: right">4,734</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_c20221231_zNmb4q4vQiQk" style="width: 12%; text-align: right">2,188</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2023</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20231231_zqZbcwPNphE6" style="text-align: right">3,467</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_c20231231_zKU483tiBVM8" style="text-align: right">2,353</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20241231_zqTGqyKNQsXf" style="text-align: right" title="Accounts receivable, net">4,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_c20241231_zx9FoAQP1qC8" style="text-align: right" title="Contract liabilities">5,571</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A3_zsShU5GF2jm3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Revenue recognized in the reporting period that was included in the contract liability balance at the beginning of the period was $<span id="xdx_90D_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn3n3_c20240101__20241231_zNP0BCCAa465" title="Revenue recognized in the reporting period included in contract liability balance at beginning of period">2,074</span> and $<span id="xdx_901_eus-gaap--ContractWithCustomerLiabilityRevenueRecognized_pn3n3_c20230101__20231231_zfwLkzV5LLD8" title="Revenue recognized in the reporting period included in contract liability balance at beginning of period">2,084</span> for the years ended December 31, 2024, and 2023, respectively.</p> 35000 <p id="xdx_89F_eus-gaap--ContractWithCustomerAssetAndLiabilityTableTextBlock_zuSdWZ6A81n3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B2_zcpdxDM5ozy2">Contract balances for the years ended December 31, 2024, 2023, and 2022 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Accounts<br/> Receivable</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Contract<br/> Liabilities</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 69%; text-align: left">2022</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20221231_zQIrgbpLBkV3" style="width: 12%; text-align: right">4,734</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_c20221231_zNmb4q4vQiQk" style="width: 12%; text-align: right">2,188</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2023</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20231231_zqZbcwPNphE6" style="text-align: right">3,467</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_c20231231_zKU483tiBVM8" style="text-align: right">2,353</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2024</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--AccountsReceivableNetCurrent_iI_pn3n3_c20241231_zqTGqyKNQsXf" style="text-align: right" title="Accounts receivable, net">4,869</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--ContractWithCustomerLiability_iI_pn3n3_c20241231_zx9FoAQP1qC8" style="text-align: right" title="Contract liabilities">5,571</td><td style="text-align: left"> </td></tr> </table> 4734000 2188000 3467000 2353000 4869000 5571000 2074000 2084000 <p id="xdx_84C_ecustom--OtherRevenuePolicyTextBlock_zNbIY7vkw0Rg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_860_zgYneu1O2aA3">Other Revenue</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Other revenue may include revenue from technology license fees and paid development projects. Technology license fees and paid development projects are recognized over time when the obligations under the agreed upon contractual arrangements are performed on our part.  Revenue recognized over time was $<span id="xdx_905_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20240101__20241231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_z9e1IZl7dMIe" title="Revenue">457</span> and $<span id="xdx_903_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_pn3n3_c20230101__20231231__us-gaap--TimingOfTransferOfGoodOrServiceAxis__us-gaap--TransferredOverTimeMember_zgTtRnp08hEh" title="Revenue">656</span> for the years ended December 31, 2024 and 2023, respectively.</p> 457000 656000 <p id="xdx_848_eus-gaap--ResearchAndDevelopmentExpensePolicy_zjzZjCIRSisd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86B_zVJ1SwgnkHTj">Research and Development Expenses</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Research and development expenses are recognized as expense when incurred.</p> <p id="xdx_847_eus-gaap--IncomeTaxPolicyTextBlock_zaSRfB3W0J5b" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_863_zpCqF5tCCwed">Income Taxes</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We account for income taxes using the asset-and-liability approach. As such, deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Deferred tax assets and liabilities are calculated using the enacted tax rates and laws that are expected to be in effect when the anticipated reversal of these differences is scheduled to occur. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some or all of the deferred tax assets will not be realized.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 percent likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured, as described above, is reflected as a liability for uncertain tax benefits in the accompanying balance sheets along with any associated interest and penalties that would be payable to the taxing authorities upon examination.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have not recorded a reserve for any tax positions for which the ultimate deductibility is highly certain but for which there is uncertainty about the timing of such deductibility. We file tax returns in all appropriate jurisdictions, which includes a federal tax return and Illinois state tax return. When and if applicable, potential interest and penalty costs are accrued as incurred, with expenses recognized in selling, general and administrative expenses in the statements of operations. As of December 31, 2024, and 2023, we had no liability for unrecognized tax benefits.</p> <p id="xdx_845_eus-gaap--EarningsPerSharePolicyTextBlock_zPEPs3HqjPk4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86E_z0FAjhm9GKBk">Earnings Per Share</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Included in the computation of diluted earnings per share for the year ended December 31, 2024, was a total of <span id="xdx_904_eus-gaap--WeightedAverageNumberDilutedSharesOutstandingAdjustment_pid_uShares_c20240101__20241231_zsM50Uc3akLl" title="Potential common stock included in computation of diluted earnings per share">2,678,000</span> in potential shares of common stock. Options to purchase approximately <span id="xdx_90D_eus-gaap--AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount_pid_uShares_c20230101__20231231_zhYIIy4F2qKg" title="Anti-dilutive pptions excluded from computation of earnings per share">889,000</span> shares of common stock that were outstanding as of December 31, 2023 were not included in the computation of earnings per share for the year ended December 31, 2023, as they would have been anti-dilutive owing to the loss reported for the period. </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p id="xdx_89F_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zovZy2ItH3a6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span id="xdx_8BC_zTK1glRDJoq3">Earnings applicable to common stock and common stock shares used in the calculation of basic and diluted earnings per share are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 95%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td style="border-bottom: black 1pt solid; text-align: center"> </td> <td id="xdx_497_20240101__20241231_zcI6boTqYKH" style="border-bottom: black 1pt solid; text-align: center"> </td> <td style="border-bottom: black 1pt solid; text-align: center"> </td> <td colspan="3" id="xdx_49B_20230101__20231231_zpcJFftIa3Jc" style="border-bottom: black 1pt solid; text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Years Ended December 31,</b></span></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2024</b></span><br/> <span style="font-size: 10pt"><b>(As Restated)</b></span></td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2023</b></span><br/> <span style="font-size: 10pt"><b>(As Restated)</b></span></td> <td> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasicAbstract_iB_z0ZtwYUrUNP8" style="vertical-align: bottom"> <td><span style="font-size: 10pt"><span style="text-decoration: underline">Numerator: (in Thousands)</span></span></td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr id="xdx_40A_eus-gaap--NetIncomeLoss_i01_pn3n3_ztJvlWYMos08" style="background-color: #CCEEFF"> <td style="vertical-align: bottom; width: 76%"><span style="font-size: 10pt">Net income (loss)</span></td> <td style="width: 1%"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 1%"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><span style="font-size: 10pt">1,099</span></td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="width: 1%"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 1%"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><span style="font-size: 10pt">(4,937</span></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 2pt"><span style="font-size: 10pt">)</span></td></tr> <tr> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_40E_eus-gaap--WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract_iB_zs4XdeN0Qqya" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt"><span style="text-decoration: underline">Denominator</span>:</span></td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_404_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_pid_uShares_maEPS_zf8rgjlbPpQf"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Weighted average number of basic common shares outstanding</span></td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-size: 10pt">62,350,459</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-size: 10pt">49,556,305</span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_402_eus-gaap--IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_i01_pid_uShares_maEPS_zlovAq9BJDi4" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Weighted average additional shares assuming conversion of in-the-money stock options to common shares</span></td> <td> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">2,678,356</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0549">—</span></span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_406_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i01T_pid_uShares_mtEPS_zcw2uVzhSSQd"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Weighted average number of diluted common shares outstanding</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">65,028,815</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">49,556,305</span></td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareBasicAbstract_iB_zhkqYrkA2xVg"> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"><span style="font-size: 10pt"><span style="text-decoration: underline">Basic earnings per common share:</span></span></td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt; text-align: right"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt; text-align: right"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_eus-gaap--EarningsPerShareBasic_i01_pid_uUSDPShares_z4LlpbnjubJk" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Net income (loss) per share – basic</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">0.02</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">(0.10</span></td> <td style="vertical-align: bottom; padding-bottom: 2pt"><span style="font-size: 10pt">)</span></td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareDilutedAbstract_iB_zSeRRmlUht1f"> <td style="vertical-align: bottom"><span style="font-size: 10pt"><span style="text-decoration: underline">Diluted earnings per common share:</span></span></td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_408_eus-gaap--EarningsPerShareDiluted_i01_pid_uUSDPShares_zRhwI9XIlar4" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Net income (loss) per share – diluted</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">0.02</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">(0.10</span></td> <td style="vertical-align: bottom; padding-bottom: 2pt"><span style="font-size: 10pt">)</span></td></tr> </table> <p style="margin: 0"> </p> <p id="xdx_850_zGCtcwtcUypg" style="margin: 0"> </p> 2678000 889000 <p id="xdx_89F_eus-gaap--ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock_zovZy2ItH3a6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span id="xdx_8BC_zTK1glRDJoq3">Earnings applicable to common stock and common stock shares used in the calculation of basic and diluted earnings per share are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; width: 95%; margin-right: auto"> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td style="border-bottom: black 1pt solid; text-align: center"> </td> <td id="xdx_497_20240101__20241231_zcI6boTqYKH" style="border-bottom: black 1pt solid; text-align: center"> </td> <td style="border-bottom: black 1pt solid; text-align: center"> </td> <td colspan="3" id="xdx_49B_20230101__20231231_zpcJFftIa3Jc" style="border-bottom: black 1pt solid; text-align: center"> </td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>Years Ended December 31,</b></span></td> <td> </td></tr> <tr style="vertical-align: bottom"> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2024</b></span><br/> <span style="font-size: 10pt"><b>(As Restated)</b></span></td> <td> </td> <td> </td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><span style="font-size: 10pt"><b>2023</b></span><br/> <span style="font-size: 10pt"><b>(As Restated)</b></span></td> <td> </td></tr> <tr id="xdx_406_eus-gaap--NetIncomeLossAvailableToCommonStockholdersBasicAbstract_iB_z0ZtwYUrUNP8" style="vertical-align: bottom"> <td><span style="font-size: 10pt"><span style="text-decoration: underline">Numerator: (in Thousands)</span></span></td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td> <td> </td> <td colspan="2" style="text-align: right"> </td> <td> </td></tr> <tr id="xdx_40A_eus-gaap--NetIncomeLoss_i01_pn3n3_ztJvlWYMos08" style="background-color: #CCEEFF"> <td style="vertical-align: bottom; width: 76%"><span style="font-size: 10pt">Net income (loss)</span></td> <td style="width: 1%"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 1%"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><span style="font-size: 10pt">1,099</span></td> <td style="vertical-align: bottom; width: 1%"> </td> <td style="width: 1%"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 1%"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><span style="font-size: 10pt">(4,937</span></td> <td style="vertical-align: bottom; width: 1%; padding-bottom: 2pt"><span style="font-size: 10pt">)</span></td></tr> <tr> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_40E_eus-gaap--WeightedAverageNumberOfSharesOutstandingDilutedDisclosureItemsAbstract_iB_zs4XdeN0Qqya" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt"><span style="text-decoration: underline">Denominator</span>:</span></td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_404_eus-gaap--WeightedAverageNumberOfSharesOutstandingBasic_i01_pid_uShares_maEPS_zf8rgjlbPpQf"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Weighted average number of basic common shares outstanding</span></td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-size: 10pt">62,350,459</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"><span style="font-size: 10pt">49,556,305</span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_402_eus-gaap--IncrementalCommonSharesAttributableToShareBasedPaymentArrangements_i01_pid_uShares_maEPS_zlovAq9BJDi4" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Weighted average additional shares assuming conversion of in-the-money stock options to common shares</span></td> <td> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">2,678,356</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom"> </td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><span style="font-size: 10pt"><span style="-sec-ix-hidden: xdx2ixbrl0549">—</span></span></td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_406_eus-gaap--WeightedAverageNumberOfDilutedSharesOutstanding_i01T_pid_uShares_mtEPS_zcw2uVzhSSQd"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Weighted average number of diluted common shares outstanding</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">65,028,815</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">49,556,305</span></td> <td style="vertical-align: bottom"> </td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareBasicAbstract_iB_zhkqYrkA2xVg"> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"><span style="font-size: 10pt"><span style="text-decoration: underline">Basic earnings per common share:</span></span></td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt; text-align: right"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt; text-align: right"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_eus-gaap--EarningsPerShareBasic_i01_pid_uUSDPShares_z4LlpbnjubJk" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Net income (loss) per share – basic</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">0.02</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">(0.10</span></td> <td style="vertical-align: bottom; padding-bottom: 2pt"><span style="font-size: 10pt">)</span></td></tr> <tr id="xdx_40D_eus-gaap--EarningsPerShareDilutedAbstract_iB_zSeRRmlUht1f"> <td style="vertical-align: bottom"><span style="font-size: 10pt"><span style="text-decoration: underline">Diluted earnings per common share:</span></span></td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="vertical-align: bottom"> </td> <td style="vertical-align: bottom; text-align: right"> </td> <td style="vertical-align: bottom"> </td></tr> <tr id="xdx_408_eus-gaap--EarningsPerShareDiluted_i01_pid_uUSDPShares_zRhwI9XIlar4" style="background-color: #CCEEFF"> <td style="vertical-align: bottom"><span style="font-size: 10pt">Net income (loss) per share – diluted</span></td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">0.02</span></td> <td style="vertical-align: bottom"> </td> <td> </td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom"><span style="font-size: 10pt">$</span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><span style="font-size: 10pt">(0.10</span></td> <td style="vertical-align: bottom; padding-bottom: 2pt"><span style="font-size: 10pt">)</span></td></tr> </table> <p style="margin: 0"> </p> 1099000 -4937000 62350459 49556305 2678356 65028815 49556305 0.02 -0.10 0.02 -0.10 <p id="xdx_840_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_z73Xulr6j495" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b><span id="xdx_86D_ziescewdlGTc">Recently Adopted Pronouncements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">In November 2023 the FASB issued ASU 2023-07 “<i>Improvements to Reportable Segment Disclosures</i>”, which the Company adopted in 2024. The amendments in this Update improve financial reporting by requiring disclosure of incremental segment information on an annual and interim basis for all public entities to enable investors to develop more decision-useful financial analyses.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Topic 280 requires that a public entity disclose certain information about its reportable segments. For example, a public entity is required to report a measure of segment profit or loss that the Chief Operating Decision Maker uses to assess segment performance and make decisions about allocating resources. Topic 280 also requires other specified segment items and amounts, such as depreciation, amortization, and depletion expense, to be disclosed under certain circumstances. The amendments in this Update do not change or remove those disclosure requirements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The amendments in this Update also do not change how a public entity identifies its operating segments, aggregates those operating segments, or applies the quantitative thresholds to determine its reportable segments.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">This Update did not have a significant impact on the Company.</p> <p id="xdx_845_ecustom--RecentlyIssuedPronouncementsPoliciesTextBlock_zX5YGkpKAwb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b><span id="xdx_86F_zXNIcmzXFtXd">Recently Issued Pronouncements</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">On December 14, 2023 the FASB issued a final standard on improvements to income tax disclosures. The standard requires disaggregated information about a reporting entity’s effective tax rate reconciliation as well as information on income taxes paid. The standard is intended to benefit investors by providing more detailed income tax disclosures that would be useful in making capital allocation decisions. ASU 2023-09, Improvements to Income Tax Disclosures, applies to all entities subject to income taxes. This new requirement will be effective for Solésence for annual periods beginning December 31, 2025. The Company is currently evaluating the impact of the adoption of this standard on the consolidated financial statements.</p> <p id="xdx_80B_eus-gaap--ErrorCorrectionTextBlock_zorlhDSur7Li" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"><span style="font-size: 10pt"><b>(3)</b></span></td> <td style="padding-right: 0"> <p id="xdx_822_z3RDlaXhN7Og" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><b>Restatement of Previously Issued Consolidated Financial Statements</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company has restated its previously issued consolidated financial statements as of December 31, 2024 and 2023 and for the years then ended to correct errors in the determination and application of overhead burden rates used in inventory costing. The errors resulted in overstated raw materials and finished goods inventories, on a net basis after considering the overstatement of reserves for excess and obsolete inventories and understated cost of revenue. The correction decreased inventories, total assets and stockholders’ equity and increased accumulated deficit. The restatement has changed the Consolidated Financial Statements and Notes 1, 2, 5, 9 and 14.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The correction reduced net inventories by approximately <span id="xdx_900_eus-gaap--InventoryNet_iNI_pn3n6_di_c20241231__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zutOIOdcdHf9">$4.651</span> million and <span id="xdx_904_eus-gaap--InventoryNet_iNI_pn3n6_di_c20231231__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z8aYbMfZuHZ2">$1.515</span> million at December 31, 2024 and 2023, respectively. Net inventories as restated include reserves for excess and obsolete inventory of <span id="xdx_903_eus-gaap--InventoryValuationReserves_iI_pn3n6_c20241231_zDSLznl4coR9">$1.657</span> million and <span id="xdx_90B_eus-gaap--InventoryValuationReserves_iI_pn3n6_c20231231_zozkJ4zQOopk">$0.639</span> million, respectively. Cost of revenue increased by approximately <span id="xdx_909_eus-gaap--CostOfGoodsAndServicesSold_pn3n6_c20240101__20241231__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zQikG3nsyWrc">$3.136</span> million and <span id="xdx_905_eus-gaap--CostOfGoodsAndServicesSold_pn3n6_c20230101__20231231__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zYJwkkqgLW9i">$0.547</span> million for the years ended December 31, 2024 and 2023, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The 2023 correction includes approximately <span id="xdx_905_eus-gaap--InventoryNet_iNI_pn3n6_di_c20221231__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zC3vfAkDTZXd">$0.968</span> million of inventory overstatement that existed at December 31, 2022. The cumulative <span id="xdx_905_eus-gaap--InventoryNet_iNI_pn3n6_di_c20221231__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zvB2ttfCoqXf">$0.968</span> million correction is reflected in beginning inventory and accumulated deficit for 2023, and the remaining <span id="xdx_905_eus-gaap--CostOfGoodsAndServicesSold_pn3n6_c20230101__20231231__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zU6xKDVkXAI">$0.547</span> million correction was reflected in 2023 cost of revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The restatement adjustments presented below do not impact previously reported provisions for income taxes of <span id="xdx_903_eus-gaap--IncomeTaxExpenseBenefit_pn3n3_c20240101__20241231_zTa30hW3q2b7">$227</span> and <span id="xdx_905_eus-gaap--IncomeTaxExpenseBenefit_pn3n3_c20230101__20231231_z9otCo1cbUrb">$6</span> for 2024 and 2023, however, components of deferred taxes and the related valuation allowance have been corrected in Note 9. Weighted-average basic and diluted common shares outstanding were unchanged.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The restatement did not affect actual cash receipts or payments. With respect to the consolidated statement of cash flows, the changes to net income (loss) and the year-over-year change in inventory balance offset each other, resulting in no change to net cash provided by (used in) operating activities. Net cash flows from investing and financing activities and beginning and ending cash balances were also unchanged.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_895_eus-gaap--ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock_z7HkvUeCXw1i" style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>Consolidated Balance Sheet</b></span><br/> <span style="font-size: 10pt"><b>December 31, 2024 </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B9_zOcRbYN5N65b">The following tables summarize the effects of the restatement.</span> Amounts are in thousands, except per-share amounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zZ3M4EPtRIS4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zu9ggeqnoB25" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zTVyYcLfO162" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43F_c20241231_eus-gaap--InventoryNet_iI_pn3n3_zzzR3pfQ5Srb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left; padding-left: 2.75pt">Inventories, net</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">20,267</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(4,651</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">15,616</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_439_c20241231_eus-gaap--AssetsCurrent_iI_pn3n3_zcErkwRwYC72" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,348</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,697</td><td style="text-align: left"> </td></tr> <tr id="xdx_435_c20241231_eus-gaap--Assets_iI_pn3n3_ztQRdNqN1X5a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Total assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,002</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,351</td><td style="text-align: left"> </td></tr> <tr id="xdx_431_c20241231_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_pn3n3_zDhxOKsrvaF9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(100,428</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(105,079</td><td style="text-align: left">)</td></tr> <tr id="xdx_436_c20241231_eus-gaap--StockholdersEquity_iI_pn3n3_z8ae5EWgg1Nh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Total stockholders’ equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,946</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,295</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20241231_eus-gaap--LiabilitiesAndStockholdersEquity_iI_pn3n3_zjLWOrZtiGFb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,002</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,351</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Operations<br/> Year Ended December 31, 2024 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_z2KeRe2YvUyi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zXS6evSsjJo1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zLkpIuPW04sf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_430_c20240101__20241231_eus-gaap--CostOfGoodsAndServicesSold_pn3n3_zG0l8oVIVpG2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; padding-left: 2.75pt">Cost of revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">36,159</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">3,136</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">39,295</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_436_c20240101__20241231_eus-gaap--GrossProfit_pn3n3_zp2uRfx9XNMi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,188</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,136</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,052</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20240101__20241231_eus-gaap--OperatingIncomeLoss_pn3n3_zVDFjSSsDoR3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Income from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,136</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,996</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20240101__20241231_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_zRQOrOxS3oml" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Income before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,462</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,136</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,326</td><td style="text-align: left"> </td></tr> <tr id="xdx_43B_c20240101__20241231_eus-gaap--NetIncomeLoss_pn3n3_zDoZ3XwXd2Pi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Net income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,136</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,099</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Income (Loss) Per Common Share<br/> Year Ended December 31, 2024 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_z64wvCucZGt1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zAmGxZxm8Xe8" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Restatement</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Adjustment</b> </p></td><td style="border-bottom: Black 1pt solid"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zWSbvr8iBKBe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_437_c20240101__20241231_eus-gaap--EarningsPerShareBasic_pp2p0_zTOD8js7N7p6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left"><span style="font-size: 10pt">Basic</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">0.07</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(0.05</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">0.02</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_430_c20240101__20241231_eus-gaap--EarningsPerShareDiluted_pp2p0_z92lPQz3Y2Aj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 10pt">Diluted</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.07</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.05</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.02</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Stockholders’ Equity<br/> Year Ended December 31, 2024</b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zSgDEGr15H42" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z84G2SAzCNLd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zjs2Z7yMj6J1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43E_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_pn3n3_zLy09VusNegj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; padding-left: 2.75pt">Accumulated deficit at December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(104,663</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(1,515</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(106,178</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_43A_c20240101__20241231_eus-gaap--NetIncomeLoss_pn3n3_zx6nIHA7Dx5e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Net income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,136</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,099</td><td style="text-align: left"> </td></tr> <tr id="xdx_437_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_pn3n3_zWXE0sSrmnW6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2.75pt">Accumulated deficit at December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(100,428</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(105,079</td><td style="text-align: left">)</td></tr> <tr id="xdx_435_c20241231_eus-gaap--StockholdersEquity_iI_pn3n3_zm9djno38YWj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total stockholders’ equity at December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,946</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,295</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Cash Flows<br/> Year Ended December 31, 2024 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zGpozEPjir28" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zmIM8vLXCBWi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zOYLFeFtluda" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43B_c20240101__20241231_eus-gaap--NetIncomeLoss_pn3n3_zz8SSEgzJuac" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left; padding-left: 2.75pt">Net income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">4,235</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(3,136</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,099</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_433_c20240101__20241231_eus-gaap--IncreaseDecreaseInInventories_iN_pn3n3_di_zdck4Y1QmWL" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Change in inventories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,236</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,136</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,100</td><td style="text-align: left">)</td></tr> <tr id="xdx_436_c20240101__20241231_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_zbiM8ZfbG0vi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Net cash provided by operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,971</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0662">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,971</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0"></p> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Balance Sheet<br/> December 31, 2023 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_z1RPJ2QcjmSa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zgi4EIokCuaj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zgd01TEL05s6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43D_c20231231_eus-gaap--InventoryNet_iI_pn3n3_zqhBQ23qbQjl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left; padding-left: 2.75pt">Inventories, net</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">10,031</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(1,515</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">8,516</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_434_c20231231_eus-gaap--AssetsCurrent_iI_pn3n3_zT9Iz2eAuSLi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,302</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,787</td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20231231_eus-gaap--Assets_iI_pn3n3_zNI3vckBWlcl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Total assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,881</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,366</td><td style="text-align: left"> </td></tr> <tr id="xdx_43C_c20231231_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_pn3n3_z7g00lBTaKg2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(104,663</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(106,178</td><td style="text-align: left">)</td></tr> <tr id="xdx_438_c20231231_eus-gaap--StockholdersEquity_iI_pn3n3_z8a01IXJ0Rhg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Total stockholders’ equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,902</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">387</td><td style="text-align: left"> </td></tr> <tr id="xdx_43A_c20231231_eus-gaap--LiabilitiesAndStockholdersEquity_iI_pn3n3_zopkiY0aC1j5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,881</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,366</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Operations<br/> Year Ended December 31, 2023 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_z3HEIzorGle8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z5QzukhNGahj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zvig2E4u5zs8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43C_c20230101__20231231_eus-gaap--CostOfGoodsAndServicesSold_pn3n3_zKKuHCWTkRs4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; padding-left: 2.75pt">Cost of revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">29,472</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">547</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">30,019</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_435_c20230101__20231231_eus-gaap--GrossProfit_pn3n3_zfEQtmclUd05" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,825</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,278</td><td style="text-align: left"> </td></tr> <tr id="xdx_430_c20230101__20231231_eus-gaap--OperatingIncomeLoss_pn3n3_zddDo8GxbCPl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,546</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,093</td><td style="text-align: left">)</td></tr> <tr id="xdx_43B_c20230101__20231231_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_zUqVWrpZEN06" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Loss before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,384</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,931</td><td style="text-align: left">)</td></tr> <tr id="xdx_437_c20230101__20231231_eus-gaap--NetIncomeLoss_pn3n3_zUhKOJ6dI6q3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,390</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,937</td><td style="text-align: left">)</td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Income (Loss) Per Common Share<br/> Year Ended December 31, 2023 </b></span></p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zozC6cBXELhb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zpAlCSnVH3oh" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Restatement</b> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Adjustment</b> </p></td><td style="border-bottom: Black 1pt solid"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zdEwOcYvyL0j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43B_c20230101__20231231_eus-gaap--EarningsPerShareBasic_pp2p0_zYSrjl8KAJij" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left"><span style="font-size: 10pt">Basic</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(0.09</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(0.01</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(0.10</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_432_c20230101__20231231_eus-gaap--EarningsPerShareDiluted_pp2p0_zkXORHDvqUQ" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 10pt">Diluted</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.09</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.01</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.10</td><td style="text-align: left">)</td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Stockholders’ Equity<br/> Year Ended December 31, 2023 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zwG7REYXUlM3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z0m3k53K5qn4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zHM2bOZmpv82" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Accumulated deficit at December 31, 2022, after adoption of the expected-credit-loss standard</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--StockholdersEquity_iI_c20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zJp3BnPs55tg" style="width: 10%; text-align: right">(100,273</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--StockholdersEquity_iI_c20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z8DoI1Rbn5u1" style="width: 10%; text-align: right">(968</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--StockholdersEquity_iI_c20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember_z17LmTIAK325" style="width: 10%; text-align: right">(101,241</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_43E_c20230101__20231231_eus-gaap--NetIncomeLoss_pn3n3_zs2nGg6Diot6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,390</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,937</td><td style="text-align: left">)</td></tr> <tr id="xdx_43B_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_pn3n3_zJ2TRvVuhNF8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2.75pt">Accumulated deficit at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(104,663</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(106,178</td><td style="text-align: left">)</td></tr> <tr id="xdx_43B_c20231231_eus-gaap--StockholdersEquity_iI_pn3n3_z0zprw8sEw21" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total stockholders’ equity at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,902</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--StockholdersEquity_iI_c20231231_z7hKg2JEq1s9" style="text-align: right" title="Stockholders' equity">387</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0; text-align: center"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Cash Flows<br/> Year Ended December 31, 2023 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zSt6YZsOVAAj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z9rZdd1r9Mr1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zlZLyGePB9h3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_438_c20230101__20231231_eus-gaap--NetIncomeLoss_pn3n3_zMl3M0Ujqnyh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left; padding-left: 2.75pt">Net loss</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(4,390</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(547</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(4,937</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_432_c20230101__20231231_eus-gaap--IncreaseDecreaseInInventories_iN_pn3n3_di_zYYo7e2xT2h9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Change in inventories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,192</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">547</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(645</td><td style="text-align: left">)</td></tr> <tr id="xdx_439_c20230101__20231231_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_zlSL7onYoOd9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,006</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0743">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,006</td><td style="text-align: left">)</td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> -4651000 -1515000 1657000 639000 3136000 547000 -968000 -968000 547000 227000 6000 <p id="xdx_895_eus-gaap--ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock_z7HkvUeCXw1i" style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-size: 10pt"><b>Consolidated Balance Sheet</b></span><br/> <span style="font-size: 10pt"><b>December 31, 2024 </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B9_zOcRbYN5N65b">The following tables summarize the effects of the restatement.</span> Amounts are in thousands, except per-share amounts.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zZ3M4EPtRIS4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zu9ggeqnoB25" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zTVyYcLfO162" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43F_c20241231_eus-gaap--InventoryNet_iI_pn3n3_zzzR3pfQ5Srb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left; padding-left: 2.75pt">Inventories, net</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">20,267</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(4,651</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">15,616</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_439_c20241231_eus-gaap--AssetsCurrent_iI_pn3n3_zcErkwRwYC72" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">29,348</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">24,697</td><td style="text-align: left"> </td></tr> <tr id="xdx_435_c20241231_eus-gaap--Assets_iI_pn3n3_ztQRdNqN1X5a" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Total assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,002</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,351</td><td style="text-align: left"> </td></tr> <tr id="xdx_431_c20241231_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_pn3n3_zDhxOKsrvaF9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(100,428</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(105,079</td><td style="text-align: left">)</td></tr> <tr id="xdx_436_c20241231_eus-gaap--StockholdersEquity_iI_pn3n3_z8ae5EWgg1Nh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Total stockholders’ equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,946</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,295</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20241231_eus-gaap--LiabilitiesAndStockholdersEquity_iI_pn3n3_zjLWOrZtiGFb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">50,002</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45,351</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Operations<br/> Year Ended December 31, 2024 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_z2KeRe2YvUyi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zXS6evSsjJo1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zLkpIuPW04sf" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_430_c20240101__20241231_eus-gaap--CostOfGoodsAndServicesSold_pn3n3_zG0l8oVIVpG2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; padding-left: 2.75pt">Cost of revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">36,159</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">3,136</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">39,295</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_436_c20240101__20241231_eus-gaap--GrossProfit_pn3n3_zp2uRfx9XNMi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,188</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,136</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">13,052</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20240101__20241231_eus-gaap--OperatingIncomeLoss_pn3n3_zVDFjSSsDoR3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Income from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5,132</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,136</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,996</td><td style="text-align: left"> </td></tr> <tr id="xdx_43D_c20240101__20241231_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_zRQOrOxS3oml" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Income before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,462</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,136</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,326</td><td style="text-align: left"> </td></tr> <tr id="xdx_43B_c20240101__20241231_eus-gaap--NetIncomeLoss_pn3n3_zDoZ3XwXd2Pi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Net income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,136</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,099</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Income (Loss) Per Common Share<br/> Year Ended December 31, 2024 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: left"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_z64wvCucZGt1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zAmGxZxm8Xe8" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Restatement</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Adjustment</b> </p></td><td style="border-bottom: Black 1pt solid"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zWSbvr8iBKBe" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_437_c20240101__20241231_eus-gaap--EarningsPerShareBasic_pp2p0_zTOD8js7N7p6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left"><span style="font-size: 10pt">Basic</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">0.07</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(0.05</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">0.02</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_430_c20240101__20241231_eus-gaap--EarningsPerShareDiluted_pp2p0_z92lPQz3Y2Aj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 10pt">Diluted</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.07</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.05</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">0.02</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Stockholders’ Equity<br/> Year Ended December 31, 2024</b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zSgDEGr15H42" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z84G2SAzCNLd" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zjs2Z7yMj6J1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43E_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_pn3n3_zLy09VusNegj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; padding-left: 2.75pt">Accumulated deficit at December 31, 2023</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(104,663</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(1,515</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(106,178</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_43A_c20240101__20241231_eus-gaap--NetIncomeLoss_pn3n3_zx6nIHA7Dx5e" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Net income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,235</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,136</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,099</td><td style="text-align: left"> </td></tr> <tr id="xdx_437_c20241231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_pn3n3_zWXE0sSrmnW6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2.75pt">Accumulated deficit at December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(100,428</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(105,079</td><td style="text-align: left">)</td></tr> <tr id="xdx_435_c20241231_eus-gaap--StockholdersEquity_iI_pn3n3_zm9djno38YWj" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total stockholders’ equity at December 31, 2024</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,946</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,651</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,295</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Cash Flows<br/> Year Ended December 31, 2024 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zGpozEPjir28" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zmIM8vLXCBWi" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zOYLFeFtluda" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43B_c20240101__20241231_eus-gaap--NetIncomeLoss_pn3n3_zz8SSEgzJuac" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left; padding-left: 2.75pt">Net income</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">4,235</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(3,136</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,099</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_433_c20240101__20241231_eus-gaap--IncreaseDecreaseInInventories_iN_pn3n3_di_zdck4Y1QmWL" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Change in inventories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(10,236</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,136</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(7,100</td><td style="text-align: left">)</td></tr> <tr id="xdx_436_c20240101__20241231_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_zbiM8ZfbG0vi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Net cash provided by operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,971</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0662">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,971</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0"></p> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Balance Sheet<br/> December 31, 2023 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_z1RPJ2QcjmSa" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zgi4EIokCuaj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zgd01TEL05s6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43D_c20231231_eus-gaap--InventoryNet_iI_pn3n3_zqhBQ23qbQjl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left; padding-left: 2.75pt">Inventories, net</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">10,031</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(1,515</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">8,516</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_434_c20231231_eus-gaap--AssetsCurrent_iI_pn3n3_zT9Iz2eAuSLi" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total current assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,302</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">14,787</td><td style="text-align: left"> </td></tr> <tr id="xdx_436_c20231231_eus-gaap--Assets_iI_pn3n3_zNI3vckBWlcl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Total assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,881</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,366</td><td style="text-align: left"> </td></tr> <tr id="xdx_43C_c20231231_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_pn3n3_z7g00lBTaKg2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Accumulated deficit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(104,663</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(106,178</td><td style="text-align: left">)</td></tr> <tr id="xdx_438_c20231231_eus-gaap--StockholdersEquity_iI_pn3n3_z8a01IXJ0Rhg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Total stockholders’ equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,902</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">387</td><td style="text-align: left"> </td></tr> <tr id="xdx_43A_c20231231_eus-gaap--LiabilitiesAndStockholdersEquity_iI_pn3n3_zopkiY0aC1j5" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total liabilities and stockholders’ equity</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">32,881</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">31,366</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Operations<br/> Year Ended December 31, 2023 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_z3HEIzorGle8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z5QzukhNGahj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zvig2E4u5zs8" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43C_c20230101__20231231_eus-gaap--CostOfGoodsAndServicesSold_pn3n3_zKKuHCWTkRs4" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; padding-left: 2.75pt">Cost of revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">29,472</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">547</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">30,019</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_435_c20230101__20231231_eus-gaap--GrossProfit_pn3n3_zfEQtmclUd05" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Gross profit</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,825</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,278</td><td style="text-align: left"> </td></tr> <tr id="xdx_430_c20230101__20231231_eus-gaap--OperatingIncomeLoss_pn3n3_zddDo8GxbCPl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Loss from operations</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3,546</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,093</td><td style="text-align: left">)</td></tr> <tr id="xdx_43B_c20230101__20231231_eus-gaap--IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest_pn3n3_zUqVWrpZEN06" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Loss before income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,384</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,931</td><td style="text-align: left">)</td></tr> <tr id="xdx_437_c20230101__20231231_eus-gaap--NetIncomeLoss_pn3n3_zUhKOJ6dI6q3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,390</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,937</td><td style="text-align: left">)</td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Net Income (Loss) Per Common Share<br/> Year Ended December 31, 2023 </b></span></p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-size: 10pt"><b> </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zozC6cBXELhb" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_zpAlCSnVH3oh" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Restatement</b> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Adjustment</b> </p></td><td style="border-bottom: Black 1pt solid"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zdEwOcYvyL0j" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_43B_c20230101__20231231_eus-gaap--EarningsPerShareBasic_pp2p0_zYSrjl8KAJij" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left"><span style="font-size: 10pt">Basic</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(0.09</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(0.01</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(0.10</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_432_c20230101__20231231_eus-gaap--EarningsPerShareDiluted_pp2p0_zkXORHDvqUQ" style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 10pt">Diluted</span></td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.09</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.01</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(0.10</td><td style="text-align: left">)</td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Stockholders’ Equity<br/> Year Ended December 31, 2023 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zwG7REYXUlM3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z0m3k53K5qn4" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zHM2bOZmpv82" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left; padding-left: 0.125in; text-indent: -0.125in">Accumulated deficit at December 31, 2022, after adoption of the expected-credit-loss standard</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--StockholdersEquity_iI_c20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember__srt--RestatementAxis__srt--ScenarioPreviouslyReportedMember_zJp3BnPs55tg" style="width: 10%; text-align: right">(100,273</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_982_eus-gaap--StockholdersEquity_iI_c20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember__srt--RestatementAxis__srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z8DoI1Rbn5u1" style="width: 10%; text-align: right">(968</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_eus-gaap--StockholdersEquity_iI_c20221231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember__srt--CumulativeEffectPeriodOfAdoptionAxis__srt--CumulativeEffectPeriodOfAdoptionAdjustedBalanceMember_z17LmTIAK325" style="width: 10%; text-align: right">(101,241</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_43E_c20230101__20231231_eus-gaap--NetIncomeLoss_pn3n3_zs2nGg6Diot6" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Net loss</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,390</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(547</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4,937</td><td style="text-align: left">)</td></tr> <tr id="xdx_43B_c20231231__us-gaap--StatementEquityComponentsAxis__us-gaap--RetainedEarningsMember_eus-gaap--StockholdersEquity_iI_pn3n3_zJ2TRvVuhNF8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2.75pt">Accumulated deficit at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(104,663</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(106,178</td><td style="text-align: left">)</td></tr> <tr id="xdx_43B_c20231231_eus-gaap--StockholdersEquity_iI_pn3n3_z0zprw8sEw21" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Total stockholders’ equity at December 31, 2023</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,902</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,515</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--StockholdersEquity_iI_c20231231_z7hKg2JEq1s9" style="text-align: right" title="Stockholders' equity">387</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0; text-align: center"> </p> <p style="margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Consolidated Statement of Cash Flows<br/> Year Ended December 31, 2023 </b></span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" id="xdx_4B2_srt--RestatementAxis_srt--ScenarioPreviouslyReportedMember_zSt6YZsOVAAj" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Previously<br/> Reported</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BB_srt--RestatementAxis_srt--RevisionOfPriorPeriodErrorCorrectionAdjustmentMember_z9rZdd1r9Mr1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Restatement<br/> Adjustment</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" id="xdx_4BE_zlZLyGePB9h3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As Restated</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_438_c20230101__20231231_eus-gaap--NetIncomeLoss_pn3n3_zMl3M0Ujqnyh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 61%; text-align: left; padding-left: 2.75pt">Net loss</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(4,390</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(547</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(4,937</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_432_c20230101__20231231_eus-gaap--IncreaseDecreaseInInventories_iN_pn3n3_di_zYYo7e2xT2h9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2.75pt">Change in inventories</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(1,192</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">547</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(645</td><td style="text-align: left">)</td></tr> <tr id="xdx_439_c20230101__20231231_eus-gaap--NetCashProvidedByUsedInOperatingActivities_pn3n3_zlSL7onYoOd9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2.75pt">Net cash used in operating activities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,006</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0743">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,006</td><td style="text-align: left">)</td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> 20267000 -4651000 15616000 29348000 -4651000 24697000 50002000 -4651000 45351000 -100428000 -4651000 -105079000 14946000 -4651000 10295000 50002000 -4651000 45351000 36159000 3136000 39295000 16188000 -3136000 13052000 5132000 -3136000 1996000 4462000 -3136000 1326000 4235000 -3136000 1099000 0.07 -0.05 0.02 0.07 -0.05 0.02 -104663000 -1515000 -106178000 4235000 -3136000 1099000 -100428000 -4651000 -105079000 14946000 -4651000 10295000 4235000 -3136000 1099000 10236000 -3136000 7100000 1971000 1971000 10031000 -1515000 8516000 16302000 -1515000 14787000 32881000 -1515000 31366000 -104663000 -1515000 -106178000 1902000 -1515000 387000 32881000 -1515000 31366000 29472000 547000 30019000 7825000 -547000 7278000 -3546000 -547000 -4093000 -4384000 -547000 -4931000 -4390000 -547000 -4937000 -0.09 -0.01 -0.10 -0.09 -0.01 -0.10 -100273000 -968000 -101241000 -4390000 -547000 -4937000 -104663000 -1515000 -106178000 1902000 -1515000 387000 387000 -4390000 -547000 -4937000 1192000 -547000 645000 -2006000 -2006000 <p id="xdx_80D_eus-gaap--DebtDisclosureTextBlock_zqxWUO1gQrQ8" style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; padding-right: 0"><span style="font-size: 10pt"><b>(4)</b></span></td> <td id="xdx_829_zpQqglmI3RDc" style="text-align: justify; padding-right: 0"><span style="font-size: 10pt"><b>Related Party Notes and Lines of Credit</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_894_eus-gaap--ScheduleOfLineOfCreditFacilitiesTextBlock_zvggRC2d8hyg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B9_zJOjXWJ9LmDi">Notes and lines of credit consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><b>2023</b></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="font-weight: bold; text-align: center; vertical-align: bottom">Rate</td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="font-weight: bold; text-align: center; vertical-align: bottom">Available</td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Outstanding </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Balance</b></p></td><td style="text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="font-weight: bold; text-align: center; vertical-align: bottom">Available<br/> (restated)</td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Outstanding </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Balance</b> </p></td><td style="text-align: center; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: justify"><span style="font-size: 10pt">Libertyville Bank &amp; Trust ⁽¹⁾</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustMember_fKDEp_zdJiZYyxDdTc" style="width: 10%; text-align: right">8.50</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustMember_fKDEp_zxaDGmfbYmVa" style="width: 10%; text-align: right">30</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--LineOfCredit_iI_c20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustMember_fKDEp_zo4XhyjyeP8a" style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0751">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20231231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustMember_fKDEp_znj6E4WBL7B1" style="width: 10%; text-align: right">30</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--LineOfCredit_iI_c20231231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustMember_fKDEp_zdOesAWWgab8" style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0753">—</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-size: 10pt">Libertyville Bank &amp; Trust ⁽²⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustOneMember_fKDIp_zBhm6qtQt8Gj" style="text-align: right">8.50</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustOneMember_fKDIp_zijmIdra71M2" style="text-align: right">500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LineOfCredit_iI_c20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustOneMember_fKDIp_zC70lQPFtuah" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0756">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20231231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustOneMember_fKDIp_zx29WDxx4pxh" style="text-align: right">500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LineOfCredit_iI_c20231231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustOneMember_fKDIp_zQF95sHT3gW5" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0758">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-size: 10pt">Beachcorp, LLC ⁽³⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_fKDMp_zN3M1LTNho14" style="text-align: right">8.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_fKDMp_zGfAOzlgjprb" style="text-align: right">5,604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--LineOfCredit_iI_c20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_fKDMp_zOQkECc1VXl9" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0761">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20231231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_fKDMp_zcDcYe5uEjqk" style="text-align: right">3,298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LineOfCredit_iI_c20231231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_fKDMp_zGWyCAu1kaR9" style="text-align: right">2,810</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-size: 10pt">Beachcorp, LLC ⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCOneMember_fKDQp_zmkvvMpPnp2i" style="text-align: right">8.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCOneMember_fKDQp_zKwPcbzDXgo9" style="text-align: right">5,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LineOfCredit_iI_c20241230__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCOneMember_fKDQp_zteSLMDQomfe" style="text-align: right">4,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20231231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCOneMember_fKDQp_zHr5hr2oHN3" style="text-align: right">4,524</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LineOfCredit_iI_c20231231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCOneMember_fKDQp_z46tlXnHo9Bl" style="text-align: right">5,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-size: 10pt">Strandler, LLC ⁽⁵⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_fKDUp_zQ5XPCNbrJOi" style="text-align: right">8.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_fKDUp_zkcw2JeymcG2" style="text-align: right">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LineOfCredit_iI_c20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_fKDUp_z4OkeI9kIhf5" style="text-align: right">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20231231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_fKDUp_zfPsPJdwB7I9" style="text-align: right">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--LineOfCredit_iI_c20231231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_fKDUp_zHwH9GVx3Y17" style="text-align: right">1,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-size: 10pt">Strandler, LLC ⁽⁶⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCOneMember_fKDYp_zchlF8pyEkHl" style="text-align: right">9.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_d0_c20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCOneMember_fKDYp_zKUsU9EDcJZ" style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LineOfCredit_iI_d0_c20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCOneMember_fKDYp_zGyBTYj0SzZj" style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_d0_c20231231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCOneMember_fKDYp_zmvsYP6YEQv8" style="text-align: right">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--LineOfCredit_iI_d0_c20231231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCOneMember_fKDYp_zXGXmOO0uWjh" style="text-align: right">2,000</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F03_zr5OLnoUSEx" style="width: 0.25in; padding-right: 0">1)</td><td id="xdx_F1F_zzGsLVjYaYHd" style="text-align: justify; padding-right: 0">Since July 2014, we have maintained a bank-issued letter of credit for up to <span id="xdx_909_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20140731__us-gaap--CreditFacilityAxis__us-gaap--LetterOfCreditMember_zJ6FnSd56Sv9">$30</span> in borrowings, with interest at the <span id="xdx_908_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20140701__20140731__us-gaap--ShortTermDebtTypeAxis__us-gaap--LetterOfCreditMember_zhdzPhoq0D0g" title="Variable interest rate basis">prime rate</span> plus <span id="xdx_901_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pii_dp_uPure_c20140701__20140731__us-gaap--ShortTermDebtTypeAxis__us-gaap--LetterOfCreditMember_zk90VCEyQQcg" title="Basis spread variable interest rate">1</span>%, 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.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F08_znMH6j6Di5Ua" style="width: 0.25in; padding-right: 0">2)</td><td id="xdx_F1E_zqavzyph2J1b" style="text-align: justify; padding-right: 0">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 <span id="xdx_902_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20211221__20241231__us-gaap--ShortTermDebtTypeAxis__us-gaap--LetterOfCreditMember_zspmS6rS6bJ" title="Variable interest rate basis">prime rate</span> plus <span id="xdx_900_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20211221__20241231__us-gaap--ShortTermDebtTypeAxis__us-gaap--LetterOfCreditMember_znBx79yH8Dpg" title="Basis spread variable interest rate">1</span>%. 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.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F09_zroFaQm2Qq6" style="width: 0.25in; padding-right: 0">3)</td><td id="xdx_F11_zCl8P9LI548h" style="text-align: justify; padding-right: 0">On January 28, 2022, the Company entered into an Amended and Restated Business Loan Agreement (the “A&amp;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 <span id="xdx_908_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20220126__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zjYOBqWHFOjl" title="Line of Credit Facility, Maximum Borrowing Capacity">$6,000</span> to <span id="xdx_904_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zukT2D2ngVE3" title="Line of Credit Facility, Maximum Borrowing Capacity">$8,000</span>, reduce the interest rate to the <span id="xdx_90D_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zTAtmsMKKlxh" title="Debt Instrument, Description of Variable Rate Basis">prime rate</span> plus <span id="xdx_903_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zxraHYTKGrz9" title="Debt Instrument, Basis Spread on Variable Rate">0.75</span>%, and extend the maturity of the A/R Revolver Facility to <span id="xdx_90E_eus-gaap--LineOfCreditFacilityExpirationDate1_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zxw9XUeq1kYk" title="Line of Credit Facility, Expiration Date">March 31, 2024</span>. 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 <span id="xdx_906_eus-gaap--LineOfCreditFacilityExpirationDate1_c20240229__20240301__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zHmf133Xn27j" title="Line of Credit Facility, Expiration Date">October 1, 2025</span>. 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 <span id="xdx_904_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20250526__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zFJXAeskQ7R8" title="Line of Credit Facility, Maximum Borrowing Capacity">$8,000</span> to <span id="xdx_90D_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20250527__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zBJ1M4Hc7Sr6" title="Line of Credit Facility, Maximum Borrowing Capacity">$12,000</span>, and extend its maturity to <span id="xdx_901_eus-gaap--LineOfCreditFacilityExpirationDate1_c20250526__20250527__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zoKLUAsSMVF3" title="Line of Credit Facility, Expiration Date">April 30, 2027</span>. On September 30, 2026, the Company entered into a Fourth Amendment to the Amended and Restated Business Loan Agreement to extend its maturity to <span id="xdx_902_eus-gaap--LineOfCreditFacilityExpirationDate1_c20260929__20260930__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zOqWodPeKgV6" title="Line of Credit Facility, Expiration Date">May 31, 2028</span>.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F01_z0fu40sh6iic" style="width: 0.25in; padding-right: 0">4)</td><td id="xdx_F1D_zeIBri8NXVX2" style="text-align: justify; padding-right: 0">On January 28, 2022, the Company entered into the A&amp;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 <span id="xdx_90B_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zS1l4UKjwCog" title="Line of Credit Facility, Maximum Borrowing Capacity">$4,000</span>, with a borrowing base consisting of up to <span id="xdx_90B_ecustom--LineOfCreditPercentageOfEligibleInventory_pid_dp_uPure_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zxlV1STig6S1">50</span>% of the value of qualified inventory of the Company. The interest rate for the Inventory Revolver is at the <span id="xdx_901_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_z4FCO6G1jpI3">prime rate</span> plus <span id="xdx_903_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zI0ZqyM6hRn1">0.75</span>%, and it was set to mature on <span id="xdx_902_eus-gaap--LineOfCreditFacilityExpirationDate1_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zepqvAysMu19">March 31, 2024</span>. 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 $<span id="xdx_90D_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20231113__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zafpP9Tpmxy9">5,200</span>, with a borrowing base consisting of up to <span id="xdx_907_ecustom--LineOfCreditPercentageOfEligibleInventory_pid_dp_uPure_c20231112__20231113__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zaZNhE6hMbib">55</span>% of the value of qualified inventory of the Company. The interest rate for the replacement Inventory Revolver remains at the <span id="xdx_904_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20231112__20231113__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zw8hF62LAsc8">prime rate</span> plus <span id="xdx_905_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20231112__20231113__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_z0ZoYcYjXRp7">0.75</span>%. 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 <span id="xdx_902_eus-gaap--LineOfCreditFacilityExpirationDate1_c20240229__20240301__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zzs4HMNAFA97">October 1, 2025</span>. 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 $<span id="xdx_905_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20250525__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z94YGIXh7Uwc" title="Line of Credit Facility, Maximum Borrowing Capacity">5,200</span> to $<span id="xdx_905_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20250527__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zrJEN9HwwGW1" title="Line of Credit Facility, Maximum Borrowing Capacity">10,000</span>, and extend its maturity to <span id="xdx_908_eus-gaap--LineOfCreditFacilityExpirationDate1_c20250526__20250527__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zOLbiFhbdSF7">April 30, 2027</span>. On September 30, 2026, the Company entered into a Fourth Amendment to the Business Loan Agreement to extend its maturity to <span id="xdx_90C_eus-gaap--LineOfCreditFacilityExpirationDate1_c20260929__20260930__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zi9xQqLqXGc9">May 31, 2028</span>. 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 <span id="xdx_900_ecustom--OverstatedInventoryMaximumWaiver_iI_pin3_c20260817__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z6zZ7rjMXN73" title="Overstated inventory maximum waiver">$3,000</span> 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.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F09_zNTBbz4pQna9" style="width: 0.25in; padding-right: 0">5)</td><td id="xdx_F14_zkdrYR1Oih7a" style="text-align: justify; padding-right: 0">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 <span id="xdx_905_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20220127__20220128__us-gaap--CreditFacilityAxis__custom--TermLoanMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zC9jbTTo9Iag">prime rate</span> plus <span id="xdx_909_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20220127__20220128__us-gaap--CreditFacilityAxis__custom--TermLoanMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zHHbdp789n9i">0.75</span>%. 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 <span id="xdx_90A_eus-gaap--LineOfCreditFacilityExpirationDate1_c20240229__20240301__us-gaap--CreditFacilityAxis__custom--TermLoanMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zYOqqKZu3A0l">October 1, 2025</span>. 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 <span id="xdx_907_eus-gaap--LineOfCreditFacilityExpirationDate1_c20250526__20250527__us-gaap--CreditFacilityAxis__custom--TermLoanMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zGyIA4cXxZu5">April 30, 2027</span>. 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 <span id="xdx_90D_eus-gaap--LineOfCreditFacilityExpirationDate1_c20260929__20260930__us-gaap--CreditFacilityAxis__custom--TermLoanMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_ziuoVp6KWxal">May 31, 2028</span>. On November 4, 2026, Strandler, LLC assigned to Whitmore Holdings, LLC all of its rights as a lender under the New Term Loan agreement.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F0D_zUwYwSnIOnU4" style="width: 0.25in; padding-right: 0">6)</td><td id="xdx_F17_zWhqOi0z6ABg" style="text-align: justify; padding-right: 0">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 $<span id="xdx_904_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20231113__us-gaap--CreditFacilityAxis__custom--BridgeNoteMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zmO9CToAv5Ti">2,000</span>. The interest rate for the Bridge Note was at the <span id="xdx_909_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20231112__20231113__us-gaap--CreditFacilityAxis__custom--BridgeNoteMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zge6UQv515Qh">prime rate</span> plus <span id="xdx_902_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20231112__20231113__us-gaap--CreditFacilityAxis__custom--BridgeNoteMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zySCY8oJzLjd">0.75</span>%, and it was to mature on <span id="xdx_903_eus-gaap--LineOfCreditFacilityExpirationDate1_c20231112__20231113__us-gaap--CreditFacilityAxis__custom--BridgeNoteMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zcxHMD0lZEMc">May 13, 2024</span>. The Bridge Note was repaid in February 2024.</td></tr></table> <p id="xdx_8AD_zBU795tbJ6W5" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify; text-indent: 31.5pt">The Company classifies the line of credit – accounts receivable as current because we are required to pay back the borrowings as cash is received from our customers. The company’s remaining debt is presented within the Consolidated Balance Sheet as of December 31, 2024, and 2023 in accordance with the maturity dates in the financing agreements.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 4.5pt; text-align: justify; text-indent: 31.5pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 10pt; text-align: justify; text-indent: 0.5in; background-color: white">Beachcorp, LLC, Strandler, LLC and Whitmore Holdings. LLC are affiliates of Mr. Bradford T. Whitmore, who beneficially owns a majority of the Company’s common stock and is the brother of Ms. R. Janet Whitmore, a director of the Company and the chair of the Company’s board of directors. The A/R Revolver Facility, the Inventory Facility and the New Term Loan are all secured by all the unencumbered assets of the Company and subordinated to the Company’s credit facility with Libertyville Bank &amp; Trust. The Company’s loan agreements with Strandler, LLC and Beachcorp, LLC were amended on September 30, 2026 to extend their maturity dates to May 31, 2028.</p> <p id="xdx_89D_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zb6pzd43YLn3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B4_zsl8vEOfLSyh">Related party interest expense consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Twelve Months Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: justify">Interest expense, related parties</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--InterestExpense_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zqm39ycYy0af" style="width: 12%; text-align: right" title="Interest expense">656</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--InterestExpense_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zyHe89cPLE1j" style="width: 12%; text-align: right" title="Interest expense">770</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Accrued interest consists of the following: </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: justify">Accrued interest expense, related parties</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pn3n3_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ztee5AGLWhUd" style="width: 12%; text-align: right" title="Accrued interest expense">36</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pn3n3_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zHTZUuGgAvcd" style="width: 12%; text-align: right" title="Accrued interest expense">81</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Outstanding balances associated with related parties are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="9" style="font-weight: bold; text-align: center">As of December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left; padding-left: 2pt; padding-bottom: 1pt">Beachcorp, LLC</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_zMNOl1sQxGS" style="border-bottom: Black 1pt solid; width: 12%; text-align: right">4,000</td><td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20230101__20231231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_zKqu4I4MIcu9" style="border-bottom: Black 1pt solid; width: 12%; text-align: right">7,810</td><td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 2pt">Strandler, LLC</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_zWGZ4ErzBkz8" style="border-bottom: Black 2.5pt double; text-align: right">1,000</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20230101__20231231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_ziDNnjBt4x4d" style="border-bottom: Black 2.5pt double; text-align: right">3,000</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zWV1Zq0Sl8e2" style="margin-top: 0; margin-bottom: 0"> </p> <p id="xdx_894_eus-gaap--ScheduleOfLineOfCreditFacilitiesTextBlock_zvggRC2d8hyg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B9_zJOjXWJ9LmDi">Notes and lines of credit consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="14" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="text-align: center"> </td><td style="padding-bottom: 1pt"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><b>2023</b></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="font-weight: bold; text-align: center; vertical-align: bottom">Rate</td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="font-weight: bold; text-align: center; vertical-align: bottom">Available</td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Outstanding </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Balance</b></p></td><td style="text-align: center; vertical-align: bottom"> </td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="font-weight: bold; text-align: center; vertical-align: bottom">Available<br/> (restated)</td><td style="font-weight: bold; text-align: center; vertical-align: bottom"> </td><td style="text-align: center; vertical-align: bottom"> </td> <td colspan="2" style="text-align: center; vertical-align: bottom"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Outstanding </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>Balance</b> </p></td><td style="text-align: center; vertical-align: bottom"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 35%; text-align: justify"><span style="font-size: 10pt">Libertyville Bank &amp; Trust ⁽¹⁾</span></td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_983_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustMember_fKDEp_zdJiZYyxDdTc" style="width: 10%; text-align: right">8.50</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustMember_fKDEp_zxaDGmfbYmVa" style="width: 10%; text-align: right">30</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--LineOfCredit_iI_c20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustMember_fKDEp_zo4XhyjyeP8a" style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0751">—</span></td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20231231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustMember_fKDEp_znj6E4WBL7B1" style="width: 10%; text-align: right">30</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--LineOfCredit_iI_c20231231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustMember_fKDEp_zdOesAWWgab8" style="width: 10%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0753">—</span></td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-size: 10pt">Libertyville Bank &amp; Trust ⁽²⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustOneMember_fKDIp_zBhm6qtQt8Gj" style="text-align: right">8.50</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_980_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustOneMember_fKDIp_zijmIdra71M2" style="text-align: right">500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LineOfCredit_iI_c20241231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustOneMember_fKDIp_zC70lQPFtuah" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0756">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20231231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustOneMember_fKDIp_zx29WDxx4pxh" style="text-align: right">500</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--LineOfCredit_iI_c20231231__us-gaap--CreditFacilityAxis__custom--LibertyvilleBankAndTrustOneMember_fKDIp_zQF95sHT3gW5" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0758">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-size: 10pt">Beachcorp, LLC ⁽³⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_fKDMp_zN3M1LTNho14" style="text-align: right">8.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_fKDMp_zGfAOzlgjprb" style="text-align: right">5,604</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--LineOfCredit_iI_c20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_fKDMp_zOQkECc1VXl9" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0761">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98D_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20231231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_fKDMp_zcDcYe5uEjqk" style="text-align: right">3,298</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LineOfCredit_iI_c20231231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_fKDMp_zGWyCAu1kaR9" style="text-align: right">2,810</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-size: 10pt">Beachcorp, LLC ⁽⁴⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCOneMember_fKDQp_zmkvvMpPnp2i" style="text-align: right">8.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCOneMember_fKDQp_zKwPcbzDXgo9" style="text-align: right">5,200</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--LineOfCredit_iI_c20241230__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCOneMember_fKDQp_zteSLMDQomfe" style="text-align: right">4,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20231231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCOneMember_fKDQp_zHr5hr2oHN3" style="text-align: right">4,524</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LineOfCredit_iI_c20231231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCOneMember_fKDQp_z46tlXnHo9Bl" style="text-align: right">5,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: justify"><span style="font-size: 10pt">Strandler, LLC ⁽⁵⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_fKDUp_zQ5XPCNbrJOi" style="text-align: right">8.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_fKDUp_zkcw2JeymcG2" style="text-align: right">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--LineOfCredit_iI_c20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_fKDUp_z4OkeI9kIhf5" style="text-align: right">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_c20231231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_fKDUp_zfPsPJdwB7I9" style="text-align: right">1,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_eus-gaap--LineOfCredit_iI_c20231231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_fKDUp_zHwH9GVx3Y17" style="text-align: right">1,000</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: justify"><span style="font-size: 10pt">Strandler, LLC ⁽⁶⁾</span></td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--RelatedPartyTransactionRate_pid_dp_uPure_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCOneMember_fKDYp_zchlF8pyEkHl" style="text-align: right">9.25</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_d0_c20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCOneMember_fKDYp_zKUsU9EDcJZ" style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LineOfCredit_iI_d0_c20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCOneMember_fKDYp_zGyBTYj0SzZj" style="text-align: right">—</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--LineOfCreditFacilityCurrentBorrowingCapacity_iI_d0_c20231231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCOneMember_fKDYp_zmvsYP6YEQv8" style="text-align: right">2,000</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--LineOfCredit_iI_d0_c20231231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCOneMember_fKDYp_zXGXmOO0uWjh" style="text-align: right">2,000</td><td style="text-align: left"> </td></tr> </table> <p style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F03_zr5OLnoUSEx" style="width: 0.25in; padding-right: 0">1)</td><td id="xdx_F1F_zzGsLVjYaYHd" style="text-align: justify; padding-right: 0">Since July 2014, we have maintained a bank-issued letter of credit for up to <span id="xdx_909_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20140731__us-gaap--CreditFacilityAxis__us-gaap--LetterOfCreditMember_zJ6FnSd56Sv9">$30</span> in borrowings, with interest at the <span id="xdx_908_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20140701__20140731__us-gaap--ShortTermDebtTypeAxis__us-gaap--LetterOfCreditMember_zhdzPhoq0D0g" title="Variable interest rate basis">prime rate</span> plus <span id="xdx_901_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pii_dp_uPure_c20140701__20140731__us-gaap--ShortTermDebtTypeAxis__us-gaap--LetterOfCreditMember_zk90VCEyQQcg" title="Basis spread variable interest rate">1</span>%, 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.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F08_znMH6j6Di5Ua" style="width: 0.25in; padding-right: 0">2)</td><td id="xdx_F1E_zqavzyph2J1b" style="text-align: justify; padding-right: 0">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 <span id="xdx_902_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20211221__20241231__us-gaap--ShortTermDebtTypeAxis__us-gaap--LetterOfCreditMember_zspmS6rS6bJ" title="Variable interest rate basis">prime rate</span> plus <span id="xdx_900_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20211221__20241231__us-gaap--ShortTermDebtTypeAxis__us-gaap--LetterOfCreditMember_znBx79yH8Dpg" title="Basis spread variable interest rate">1</span>%. 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.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F09_zroFaQm2Qq6" style="width: 0.25in; padding-right: 0">3)</td><td id="xdx_F11_zCl8P9LI548h" style="text-align: justify; padding-right: 0">On January 28, 2022, the Company entered into an Amended and Restated Business Loan Agreement (the “A&amp;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 <span id="xdx_908_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20220126__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zjYOBqWHFOjl" title="Line of Credit Facility, Maximum Borrowing Capacity">$6,000</span> to <span id="xdx_904_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zukT2D2ngVE3" title="Line of Credit Facility, Maximum Borrowing Capacity">$8,000</span>, reduce the interest rate to the <span id="xdx_90D_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zTAtmsMKKlxh" title="Debt Instrument, Description of Variable Rate Basis">prime rate</span> plus <span id="xdx_903_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zxraHYTKGrz9" title="Debt Instrument, Basis Spread on Variable Rate">0.75</span>%, and extend the maturity of the A/R Revolver Facility to <span id="xdx_90E_eus-gaap--LineOfCreditFacilityExpirationDate1_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zxw9XUeq1kYk" title="Line of Credit Facility, Expiration Date">March 31, 2024</span>. 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 <span id="xdx_906_eus-gaap--LineOfCreditFacilityExpirationDate1_c20240229__20240301__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zHmf133Xn27j" title="Line of Credit Facility, Expiration Date">October 1, 2025</span>. 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 <span id="xdx_904_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20250526__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zFJXAeskQ7R8" title="Line of Credit Facility, Maximum Borrowing Capacity">$8,000</span> to <span id="xdx_90D_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20250527__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zBJ1M4Hc7Sr6" title="Line of Credit Facility, Maximum Borrowing Capacity">$12,000</span>, and extend its maturity to <span id="xdx_901_eus-gaap--LineOfCreditFacilityExpirationDate1_c20250526__20250527__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zoKLUAsSMVF3" title="Line of Credit Facility, Expiration Date">April 30, 2027</span>. On September 30, 2026, the Company entered into a Fourth Amendment to the Amended and Restated Business Loan Agreement to extend its maturity to <span id="xdx_902_eus-gaap--LineOfCreditFacilityExpirationDate1_c20260929__20260930__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zOqWodPeKgV6" title="Line of Credit Facility, Expiration Date">May 31, 2028</span>.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F01_z0fu40sh6iic" style="width: 0.25in; padding-right: 0">4)</td><td id="xdx_F1D_zeIBri8NXVX2" style="text-align: justify; padding-right: 0">On January 28, 2022, the Company entered into the A&amp;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 <span id="xdx_90B_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zS1l4UKjwCog" title="Line of Credit Facility, Maximum Borrowing Capacity">$4,000</span>, with a borrowing base consisting of up to <span id="xdx_90B_ecustom--LineOfCreditPercentageOfEligibleInventory_pid_dp_uPure_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zxlV1STig6S1">50</span>% of the value of qualified inventory of the Company. The interest rate for the Inventory Revolver is at the <span id="xdx_901_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_z4FCO6G1jpI3">prime rate</span> plus <span id="xdx_903_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zI0ZqyM6hRn1">0.75</span>%, and it was set to mature on <span id="xdx_902_eus-gaap--LineOfCreditFacilityExpirationDate1_c20220127__20220128__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zepqvAysMu19">March 31, 2024</span>. 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 $<span id="xdx_90D_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20231113__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zafpP9Tpmxy9">5,200</span>, with a borrowing base consisting of up to <span id="xdx_907_ecustom--LineOfCreditPercentageOfEligibleInventory_pid_dp_uPure_c20231112__20231113__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zaZNhE6hMbib">55</span>% of the value of qualified inventory of the Company. The interest rate for the replacement Inventory Revolver remains at the <span id="xdx_904_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20231112__20231113__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__us-gaap--RevolvingCreditFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zw8hF62LAsc8">prime rate</span> plus <span id="xdx_905_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20231112__20231113__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_z0ZoYcYjXRp7">0.75</span>%. 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 <span id="xdx_902_eus-gaap--LineOfCreditFacilityExpirationDate1_c20240229__20240301__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember_zzs4HMNAFA97">October 1, 2025</span>. 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 $<span id="xdx_905_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20250525__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z94YGIXh7Uwc" title="Line of Credit Facility, Maximum Borrowing Capacity">5,200</span> to $<span id="xdx_905_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20250527__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zrJEN9HwwGW1" title="Line of Credit Facility, Maximum Borrowing Capacity">10,000</span>, and extend its maturity to <span id="xdx_908_eus-gaap--LineOfCreditFacilityExpirationDate1_c20250526__20250527__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zOLbiFhbdSF7">April 30, 2027</span>. On September 30, 2026, the Company entered into a Fourth Amendment to the Business Loan Agreement to extend its maturity to <span id="xdx_90C_eus-gaap--LineOfCreditFacilityExpirationDate1_c20260929__20260930__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--ReplacementPromissoryNoteMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zi9xQqLqXGc9">May 31, 2028</span>. 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 <span id="xdx_900_ecustom--OverstatedInventoryMaximumWaiver_iI_pin3_c20260817__us-gaap--TypeOfArrangementAxis__custom--BusinessLoanAgreementMember__us-gaap--CreditFacilityAxis__custom--InventoryFacilityMember__srt--CounterpartyNameAxis__custom--BeachcorpLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_z6zZ7rjMXN73" title="Overstated inventory maximum waiver">$3,000</span> 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.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F09_zNTBbz4pQna9" style="width: 0.25in; padding-right: 0">5)</td><td id="xdx_F14_zkdrYR1Oih7a" style="text-align: justify; padding-right: 0">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 <span id="xdx_905_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20220127__20220128__us-gaap--CreditFacilityAxis__custom--TermLoanMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zC9jbTTo9Iag">prime rate</span> plus <span id="xdx_909_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20220127__20220128__us-gaap--CreditFacilityAxis__custom--TermLoanMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zHHbdp789n9i">0.75</span>%. 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 <span id="xdx_90A_eus-gaap--LineOfCreditFacilityExpirationDate1_c20240229__20240301__us-gaap--CreditFacilityAxis__custom--TermLoanMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zYOqqKZu3A0l">October 1, 2025</span>. 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 <span id="xdx_907_eus-gaap--LineOfCreditFacilityExpirationDate1_c20250526__20250527__us-gaap--CreditFacilityAxis__custom--TermLoanMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zGyIA4cXxZu5">April 30, 2027</span>. 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 <span id="xdx_90D_eus-gaap--LineOfCreditFacilityExpirationDate1_c20260929__20260930__us-gaap--CreditFacilityAxis__custom--TermLoanMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_ziuoVp6KWxal">May 31, 2028</span>. On November 4, 2026, Strandler, LLC assigned to Whitmore Holdings, LLC all of its rights as a lender under the New Term Loan agreement.</td></tr></table> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-right: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt; background-color: white"><tr style="vertical-align: top"> <td style="width: 0.5in; padding-right: 0"></td><td id="xdx_F0D_zUwYwSnIOnU4" style="width: 0.25in; padding-right: 0">6)</td><td id="xdx_F17_zWhqOi0z6ABg" style="text-align: justify; padding-right: 0">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 $<span id="xdx_904_eus-gaap--LineOfCreditFacilityMaximumBorrowingCapacity_iI_c20231113__us-gaap--CreditFacilityAxis__custom--BridgeNoteMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zmO9CToAv5Ti">2,000</span>. The interest rate for the Bridge Note was at the <span id="xdx_909_eus-gaap--DebtInstrumentDescriptionOfVariableRateBasis_c20231112__20231113__us-gaap--CreditFacilityAxis__custom--BridgeNoteMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zge6UQv515Qh">prime rate</span> plus <span id="xdx_902_eus-gaap--DebtInstrumentBasisSpreadOnVariableRate1_pid_dp_uPure_c20231112__20231113__us-gaap--CreditFacilityAxis__custom--BridgeNoteMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zySCY8oJzLjd">0.75</span>%, and it was to mature on <span id="xdx_903_eus-gaap--LineOfCreditFacilityExpirationDate1_c20231112__20231113__us-gaap--CreditFacilityAxis__custom--BridgeNoteMember__srt--CounterpartyNameAxis__custom--StrandlerLLCMember_zcxHMD0lZEMc">May 13, 2024</span>. The Bridge Note was repaid in February 2024.</td></tr></table> 0.0850 30000 30000 0.0850 500000 500000 0.0825 5604000 3298000 2810000 0.0825 5200000 4000000 4524000 5000000 0.0825 1000000 1000000 1000000 1000000 0.0925 0 0 2000000 2000000 30000 prime rate 0.01 prime rate 0.01 6000000 8000000 prime rate 0.0075 2024-03-31 2025-10-01 8000000 12000000 2027-04-30 2028-05-31 4000000 0.50 prime rate 0.0075 2024-03-31 5200000 0.55 prime rate 0.0075 2025-10-01 5200000 10000000 2027-04-30 2028-05-31 3000000 prime rate 0.0075 2025-10-01 2027-04-30 2028-05-31 2000000 prime rate 0.0075 2024-05-13 <p id="xdx_89D_eus-gaap--ScheduleOfRelatedPartyTransactionsTableTextBlock_zb6pzd43YLn3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B4_zsl8vEOfLSyh">Related party interest expense consists of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Twelve Months Ended December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: justify">Interest expense, related parties</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--InterestExpense_c20240101__20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zqm39ycYy0af" style="width: 12%; text-align: right" title="Interest expense">656</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98A_eus-gaap--InterestExpense_c20230101__20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zyHe89cPLE1j" style="width: 12%; text-align: right" title="Interest expense">770</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Accrued interest consists of the following: </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: justify">Accrued interest expense, related parties</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pn3n3_c20241231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_ztee5AGLWhUd" style="width: 12%; text-align: right" title="Accrued interest expense">36</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_989_eus-gaap--InterestPayableCurrentAndNoncurrent_iI_pn3n3_c20231231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--RelatedPartyMember_zHTZUuGgAvcd" style="width: 12%; text-align: right" title="Accrued interest expense">81</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Outstanding balances associated with related parties are as follows:</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="9" style="font-weight: bold; text-align: center">As of December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left; padding-left: 2pt; padding-bottom: 1pt">Beachcorp, LLC</td><td style="width: 1%; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98F_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_zMNOl1sQxGS" style="border-bottom: Black 1pt solid; width: 12%; text-align: right">4,000</td><td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td><td style="border-bottom: Black 1pt solid; width: 1%"> </td> <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20230101__20231231__us-gaap--CreditFacilityAxis__custom--BeachcorpLLCMember_zKqu4I4MIcu9" style="border-bottom: Black 1pt solid; width: 12%; text-align: right">7,810</td><td style="border-bottom: Black 1pt solid; width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 2pt">Strandler, LLC</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98E_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20240101__20241231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_zWGZ4ErzBkz8" style="border-bottom: Black 2.5pt double; text-align: right">1,000</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td id="xdx_98C_eus-gaap--RelatedPartyTransactionAmountsOfTransaction_c20230101__20231231__us-gaap--CreditFacilityAxis__custom--StrandlerLLCMember_ziDNnjBt4x4d" style="border-bottom: Black 2.5pt double; text-align: right">3,000</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td></tr> </table> 656000 770000 36000 81000 4000000 7810000 1000000 3000000 <p id="xdx_80A_eus-gaap--InventoryDisclosureTextBlock_z9FhYUZtXM12" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; padding-right: 0"><span style="font-size: 10pt"><b>(5)</b></span></td> <td id="xdx_823_zynIyaOfBbi3" style="text-align: justify; padding-right: 0"><span style="font-size: 10pt"><b>Inventories, net as Restated</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p id="xdx_89F_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zLUGYnzVvra6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span id="xdx_8B9_zYoHOH1Bxsnd">Inventories consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td id="xdx_49A_20241231_zH75ehsNQ0K5" style="border-bottom: Black 1pt solid; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td colspan="2" id="xdx_497_20231231_z45QOOthu6ic" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><b>As of December 31,</b></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024<br/> (As Restated)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023<br/> (As Restated)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzWNM_zTQkJ1KbEmC6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left">Raw materials</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">12,860</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,030</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzWNM_z2oINSWTUNs7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finished goods</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,125</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InventoryValuationReserves_iNI_pn3n3_di_msINzWNM_zkjeJaJiSVi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Inventory reserve</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,657</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(639</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--InventoryNet_iTI_pn3n3_mtINzWNM_ztmjvMoNd6L" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.125in">Total Inventories, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,616</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,516</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AC_zCM7YWQ3XWr8" style="margin-top: 0; margin-bottom: 0"> </p> <p id="xdx_89F_eus-gaap--ScheduleOfInventoryCurrentTableTextBlock_zLUGYnzVvra6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span id="xdx_8B9_zYoHOH1Bxsnd">Inventories consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td id="xdx_49A_20241231_zH75ehsNQ0K5" style="border-bottom: Black 1pt solid; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td colspan="2" id="xdx_497_20231231_z45QOOthu6ic" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><b>As of December 31,</b></td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024<br/> (As Restated)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023<br/> (As Restated)</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40C_eus-gaap--InventoryRawMaterials_iI_pn3n3_maINzWNM_zTQkJ1KbEmC6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left">Raw materials</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">12,860</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right">7,030</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_408_eus-gaap--InventoryFinishedGoods_iI_pn3n3_maINzWNM_z2oINSWTUNs7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Finished goods</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">4,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,125</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--InventoryValuationReserves_iNI_pn3n3_di_msINzWNM_zkjeJaJiSVi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Inventory reserve</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,657</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(639</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40C_eus-gaap--InventoryNet_iTI_pn3n3_mtINzWNM_ztmjvMoNd6L" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.125in">Total Inventories, net</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">15,616</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">8,516</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 12860000 7030000 4413000 2125000 1657000 639000 15616000 8516000 <p id="xdx_805_eus-gaap--PropertyPlantAndEquipmentDisclosureTextBlock_zedhlAErLR7j" style="margin-top: 0; margin-bottom: 0"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; padding-left: 2.5pt; padding-right: 0"><span style="font-size: 10pt"><b>(6)</b></span></td> <td style="padding-right: 0"> <p id="xdx_82B_zMBuopOdijj4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>Equipment and Leasehold Improvements</b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"></p></td></tr> </table> <p id="xdx_89F_eus-gaap--PropertyPlantAndEquipmentTextBlock_zFuyStQ4vmId" style="margin-top: 0; margin-bottom: 0"><span id="xdx_8B0_zVo9bFwNwR58" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment and leasehold improvements consist of the following:</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left">Machinery and equipment</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zAWXV7weiBwj" style="width: 12%; text-align: right" title="Machinery and equipment">23,551</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_z4HyS7wCvah6" style="width: 12%; text-align: right" title="Machinery and equipment">23,339</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Office equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z4p78BdrJ4i9" style="text-align: right" title="Office equipment">1,014</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zdiWJsoRZGce" style="text-align: right" title="Office equipment">1,014</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office furniture</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zmKyt8q7iRA8" style="text-align: right" title="Office furniture">126</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_ziY4QcnxBo5e" style="text-align: right" title="Office furniture">126</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zjarakpa8NNj" style="text-align: right" title="Leasehold improvements">5,153</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zMzroy1T5O74" style="text-align: right" title="Leasehold improvements">5,157</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Construction in progress</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zFpeveo5dMhh" style="border-bottom: Black 1pt solid; text-align: right" title="Construction in progress">5,706</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zAdSsyXABTAh" style="border-bottom: Black 1pt solid; text-align: right" title="Construction in progress">931</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPE_c20241231_zNGqKiFX0szl" style="text-align: right" title="Property plant and equipment,gross">35,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPE_c20231231_z4f6aPPVdW05" style="text-align: right" title="Property plant and equipment,gross">30,567</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPE_c20241231_zB0ZGBHMWDY7" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Accumulated depreciation and amortization">(22,816</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPE_c20231231_zlU1GRYvN02" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Accumulated depreciation and amortization">(21,899</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPE_c20241231_zN8ZCH9SNTo3" style="border-bottom: Black 2.5pt double; text-align: right" title="Property, Plant and Equipment, Net, Total">12,734</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPE_c20231231_zs70ehVZlh11" style="border-bottom: Black 2.5pt double; text-align: right" title="Property, Plant and Equipment, Net, Total">8,668</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A5_zHpknu0GHbd8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Depreciation expense was <span id="xdx_90E_eus-gaap--Depreciation_pn3n3_c20240101__20241231_z6M5k9YvSobd" title="Depreciation expense">$918</span> and <span id="xdx_90F_eus-gaap--Depreciation_pn3n3_c20230101__20231231_z6BR5cVVIADd" title="Depreciation expense">$732</span>, for the years ended December 31, 2024 and 2023, respectively.</p> <p id="xdx_89F_eus-gaap--PropertyPlantAndEquipmentTextBlock_zFuyStQ4vmId" style="margin-top: 0; margin-bottom: 0"><span id="xdx_8B0_zVo9bFwNwR58" style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Equipment and leasehold improvements consist of the following:</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 70%; text-align: left">Machinery and equipment</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98E_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_zAWXV7weiBwj" style="width: 12%; text-align: right" title="Machinery and equipment">23,551</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--MachineryAndEquipmentMember_z4HyS7wCvah6" style="width: 12%; text-align: right" title="Machinery and equipment">23,339</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Office equipment</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_z4p78BdrJ4i9" style="text-align: right" title="Office equipment">1,014</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--OfficeEquipmentMember_zdiWJsoRZGce" style="text-align: right" title="Office equipment">1,014</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Office furniture</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_zmKyt8q7iRA8" style="text-align: right" title="Office furniture">126</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--FurnitureAndFixturesMember_ziY4QcnxBo5e" style="text-align: right" title="Office furniture">126</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Leasehold improvements</td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zjarakpa8NNj" style="text-align: right" title="Leasehold improvements">5,153</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--LeaseholdImprovementsMember_zMzroy1T5O74" style="text-align: right" title="Leasehold improvements">5,157</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Construction in progress</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20241231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zFpeveo5dMhh" style="border-bottom: Black 1pt solid; text-align: right" title="Construction in progress">5,706</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--PropertyPlantAndEquipmentGross_iI_c20231231__us-gaap--PropertyPlantAndEquipmentByTypeAxis__us-gaap--ConstructionInProgressMember_zAdSsyXABTAh" style="border-bottom: Black 1pt solid; text-align: right" title="Construction in progress">931</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPE_c20241231_zNGqKiFX0szl" style="text-align: right" title="Property plant and equipment,gross">35,550</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--PropertyPlantAndEquipmentGross_iI_maPPE_c20231231_z4f6aPPVdW05" style="text-align: right" title="Property plant and equipment,gross">30,567</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Less: Accumulated depreciation and amortization</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_980_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPE_c20241231_zB0ZGBHMWDY7" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Accumulated depreciation and amortization">(22,816</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment_iNI_di_msPPE_c20231231_zlU1GRYvN02" style="border-bottom: Black 1pt solid; text-align: right" title="Less: Accumulated depreciation and amortization">(21,899</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPE_c20241231_zN8ZCH9SNTo3" style="border-bottom: Black 2.5pt double; text-align: right" title="Property, Plant and Equipment, Net, Total">12,734</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_985_eus-gaap--PropertyPlantAndEquipmentNet_iTI_mtPPE_c20231231_zs70ehVZlh11" style="border-bottom: Black 2.5pt double; text-align: right" title="Property, Plant and Equipment, Net, Total">8,668</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 23551000 23339000 1014000 1014000 126000 126000 5153000 5157000 5706000 931000 35550000 30567000 22816000 21899000 12734000 8668000 918000 732000 <p id="xdx_80B_eus-gaap--CommitmentsDisclosureTextBlock_z2DCCwnqleyc" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; padding-right: 0"><span style="font-size: 10pt"><b>(7)</b></span></td> <td id="xdx_824_zcxIz72nX2W9" style="text-align: justify; padding-right: 0"><span style="font-size: 10pt"><b>Lease Commitments</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company’s operating lease portfolio is comprised of operating leases for office, warehouse space and equipment. Certain of the Company’s leases include one or more options to renew or terminate the lease at the Company’s discretion. The Company regularly evaluates the renewal and termination options and when they are reasonably certain of exercise, includes the renewal or termination option in our lease term. The Company has one sublease of currently unused floorspace that is month-to-month.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The discount rates used for leases accounted for under ASC 842 are based on an interest rate yield curve developed for the leases in the Company’s portfolio.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On September 1^st of 2024 the facility located at 1319 Marquette Drive in Romeoville was extended through January 31, 2028. Additionally, on that same day, the facility located at 453 Commerce St in Burr Ridge was extended for one year. The present value of future lease payments associated with these extensions resulted in the addition of a ROU asset and lease liability totaling $<span id="xdx_90C_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_pn3n3_c20240101__20241231_zFUSvX1pZW4l" title="Lease liabilities arising from obtaining right-of-use assets">1,019</span>.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The office leases contain variable lease payments which consist primarily of taxes, insurance, and common area or other maintenance costs, which are paid based on actual costs incurred by the lessor. The Company has elected to utilize the available practical expedient to combine lease and non-lease components for building leases.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_891_eus-gaap--LeaseCostTableTextBlock_zvE4TXduioIi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"><span id="xdx_8B2_z6UAfr9rEry3">Quantitative information regarding the Company’s leases is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240101__20241231_zAXmsc38UWH6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Twelve Months Ended December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zBdzuExUG7Y1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Twelve Months Ended December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--LeaseCostAbstract_iB_zyNcZMnCbwzd" style="vertical-align: bottom"> <td style="text-align: left">Components of lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--OperatingLeaseCostComponentsAbstract_i02B_pn3n3_zoW6dOsGxVIg" style="vertical-align: bottom"> <td style="text-align: left">Operating lease cost components:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseCost_i02_pn3n3_maOLEzncp_maOLEzNuA_zQV0FTUmGVml" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left; padding-left: 12pt">Operating lease cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">1,944</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">1,881</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--VariableLeaseCost_i02_pn3n3_maOLEzncp_maOLEzNuA_zT4JHaGkQCzd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 12pt">Variable lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">684</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">581</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ShortTermLeaseCost_i02_pn3n3_maOLEzncp_maOLEzNuA_zJSUH5YaSNwl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 12pt">Short-term lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">334</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">112</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--SubleaseIncome_i02N_pn3n3_di_msOLEzNuA_zJANiaWHEHYd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 12pt">Sub-lease income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(511</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(786</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_ecustom--LeaseCostsOperating_i02T_pn3n3_maLCzWd6_mtOLEzNuA_zDsUvCMH63n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 24pt"> Total operating lease costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,451</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,788</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LeaseCost_i01T_pn3n3_mtLCzWd6_z1rqo4plcPB1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,451</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,788</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AA_zQkefYhkDPyk" style="margin-top: 0; margin-bottom: 0"> </p> <p style="margin-top: 0; margin-bottom: 0"></p> <p style="margin-top: 0; margin-bottom: 0"> </p> <p id="xdx_892_ecustom--SummaryOfSupplementalCashFlowInformationRelatedToLeasesTableTextBlock_zwdFckPebUW3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B4_z38zbln0S91k">Supplemental cash flow information related to leases is as follows for the years ended December 31, 2024 and 2023:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-left: 0.375in; text-indent: -0.125in">Operating cash outflow from operating leases</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--OperatingLeasePayments_pn3n3_c20240101__20241231_zH5Ja6GsX945" style="width: 10%; text-align: right" title="Operating cash outflow from operating leases">2,115</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--OperatingLeasePayments_pn3n3_c20230101__20231231_zKMRhMj2MCcg" style="width: 10%; text-align: right">172</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Lease liabilities arising from obtaining right-of-use assets</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_pn3n3_c20240101__20241231_zmJb2B5wgqJ5" style="text-align: right" title="Lease liabilities arising from obtaining right-of-use assets">1,019</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_pn3n3_c20230101__20231231_zka2SSWh8ca8" style="text-align: right" title="Lease liabilities arising from obtaining right-of-use assets">182</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Weighted-average remaining lease term-operating leases (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20241231_zktjVwG4ZjS7" title="Weighted-average remaining lease term-operating leases (in years)">6.8</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20231231_zxXhI4Ab8P0j" title="Weighted-average remaining lease term-operating leases (in years)">7.9</span></td><td style="text-align: left"> </td></tr> <tr style="background-color: white; vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Weighted-average discount rate-operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pip0_dp_c20241231_zC59QzT70zo4" title="Weighted-average discount rate-operating leases">7.6</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pip0_dp_c20231231_zYecwZtebjwa" title="Weighted-average discount rate-operating leases">7.1</span></td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A0_zxa96wRuyl04" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_89F_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zbM7j1npXGab" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8BF_zjQtkLd67dG3">The future maturities of the Company’s operating leases as of December 31, 2024 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 40%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 26%; text-align: left">2025</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maOLL_c20241231_z7LWGcU2l4j3" style="width: 10%; text-align: right" title="2025">1,975</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maOLL_c20241231_zTgAKC24Lbz" style="text-align: right" title="2026">1,909</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maOLL_c20241231_zxf58iuvvcCd" style="text-align: right" title="2027">1,965</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maOLL_c20241231_zmso5dvAUape" style="text-align: right" title="2028">1,587</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2029</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_maOLL_c20241231_zbxoUT7iGB32" style="text-align: right" title="2029">1,591</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">Thereafter</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pn3n3_maOLL_c20241231_z89IMHmoW7Z" style="border-bottom: Black 1pt solid; text-align: right" title="Thereafter">4,022</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Total payments</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtOLL_c20241231_zj4rtiCrVkZ4" style="text-align: right" title="Total payments">13,049</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 10pt">Less amounts representing interest</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_c20241231_zCKbGjA5pJs9" style="text-align: right" title="Less amounts representing interest">(2,752</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">Total minimum payments required</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--OperatingLeaseLiability_iI_pn3n3_c20241231_zMU4isszarqa" style="border-bottom: Black 2.5pt double; text-align: right" title="Total minimum payments required">10,297</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8AF_z15RfnDqnUAb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The Company subleases a portion of a leased industrial building that is used primarily for the storage of furniture, equipment and displays used for retail sales. The arrangement is not with a related party.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Payments received by the Company for this sublease are comprised of two components, which include base rent and Common Area Maintenance (CAM) charges. While the base rent is fixed, the CAM charges are indexed directly to the Master Lease and are expected to be adjusted periodically as actual costs are incurred. However, the executed sublease agreement specifically itemizes these costs with a provision that informs the sublessee that the CAM charges will be adjusted (up or down) based on actual amounts once this information becomes known. As such, the nature of the charges is more closely representative of a fixed payment (an “in-substance fixed” charge) with the adjustments occurring simply to “true up” the listed CAM charges once actual charges from the head lessor become known. As sublessor, the Company has elected the practical expedient to not separate lease and non-lease components in disclosing future undiscounted cashflows and treats the combined components as a single lease component.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As sublessor, the Company is subletting to one tenant on a month-to-month arrangement.</p> 1019000 <p id="xdx_891_eus-gaap--LeaseCostTableTextBlock_zvE4TXduioIi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"><span id="xdx_8B2_z6UAfr9rEry3">Quantitative information regarding the Company’s leases is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24pt"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_491_20240101__20241231_zAXmsc38UWH6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Twelve Months Ended December 31, 2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49F_20230101__20231231_zBdzuExUG7Y1" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Twelve Months Ended December 31, 2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40A_eus-gaap--LeaseCostAbstract_iB_zyNcZMnCbwzd" style="vertical-align: bottom"> <td style="text-align: left">Components of lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_408_ecustom--OperatingLeaseCostComponentsAbstract_i02B_pn3n3_zoW6dOsGxVIg" style="vertical-align: bottom"> <td style="text-align: left">Operating lease cost components:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--OperatingLeaseCost_i02_pn3n3_maOLEzncp_maOLEzNuA_zQV0FTUmGVml" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 28%; text-align: left; padding-left: 12pt">Operating lease cost</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">1,944</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 18%; text-align: right">1,881</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--VariableLeaseCost_i02_pn3n3_maOLEzncp_maOLEzNuA_zT4JHaGkQCzd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 12pt">Variable lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">684</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">581</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--ShortTermLeaseCost_i02_pn3n3_maOLEzncp_maOLEzNuA_zJSUH5YaSNwl" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 12pt">Short-term lease cost</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">334</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">112</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--SubleaseIncome_i02N_pn3n3_di_msOLEzNuA_zJANiaWHEHYd" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 12pt">Sub-lease income</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(511</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(786</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_403_ecustom--LeaseCostsOperating_i02T_pn3n3_maLCzWd6_mtOLEzNuA_zDsUvCMH63n3" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 24pt"> Total operating lease costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">2,451</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,788</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_406_eus-gaap--LeaseCost_i01T_pn3n3_mtLCzWd6_z1rqo4plcPB1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total lease cost</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">2,451</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">1,788</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1944000 1881000 684000 581000 334000 112000 511000 786000 2451000 1788000 2451000 1788000 <p id="xdx_892_ecustom--SummaryOfSupplementalCashFlowInformationRelatedToLeasesTableTextBlock_zwdFckPebUW3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B4_z38zbln0S91k">Supplemental cash flow information related to leases is as follows for the years ended December 31, 2024 and 2023:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Cash paid for amounts included in the measurement of lease liabilities:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left; padding-left: 0.375in; text-indent: -0.125in">Operating cash outflow from operating leases</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_987_eus-gaap--OperatingLeasePayments_pn3n3_c20240101__20241231_zH5Ja6GsX945" style="width: 10%; text-align: right" title="Operating cash outflow from operating leases">2,115</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--OperatingLeasePayments_pn3n3_c20230101__20231231_zKMRhMj2MCcg" style="width: 10%; text-align: right">172</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Lease liabilities arising from obtaining right-of-use assets</td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_pn3n3_c20240101__20241231_zmJb2B5wgqJ5" style="text-align: right" title="Lease liabilities arising from obtaining right-of-use assets">1,019</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98F_eus-gaap--RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability_pn3n3_c20230101__20231231_zka2SSWh8ca8" style="text-align: right" title="Lease liabilities arising from obtaining right-of-use assets">182</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Weighted-average remaining lease term-operating leases (in years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90C_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20241231_zktjVwG4ZjS7" title="Weighted-average remaining lease term-operating leases (in years)">6.8</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--LesseeOperatingLeaseRemainingLeaseTerm_iI_dtY_c20231231_zxXhI4Ab8P0j" title="Weighted-average remaining lease term-operating leases (in years)">7.9</span></td><td style="text-align: left"> </td></tr> <tr style="background-color: white; vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Weighted-average discount rate-operating leases</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90B_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pip0_dp_c20241231_zC59QzT70zo4" title="Weighted-average discount rate-operating leases">7.6</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_905_eus-gaap--OperatingLeaseWeightedAverageDiscountRatePercent_iI_pip0_dp_c20231231_zYecwZtebjwa" title="Weighted-average discount rate-operating leases">7.1</span></td><td style="text-align: left">%</td></tr> </table> 2115000 172000 1019000 182000 P6Y9M18D P7Y10M24D 0.076 0.071 <p id="xdx_89F_eus-gaap--LesseeOperatingLeaseLiabilityMaturityTableTextBlock_zbM7j1npXGab" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8BF_zjQtkLd67dG3">The future maturities of the Company’s operating leases as of December 31, 2024 are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 40%; margin-right: auto"> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 26%; text-align: left">2025</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths_iI_pn3n3_maOLL_c20241231_z7LWGcU2l4j3" style="width: 10%; text-align: right" title="2025">1,975</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2026</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_988_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearTwo_iI_pn3n3_maOLL_c20241231_zTgAKC24Lbz" style="text-align: right" title="2026">1,909</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2027</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearThree_iI_pn3n3_maOLL_c20241231_zxf58iuvvcCd" style="text-align: right" title="2027">1,965</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2028</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFour_iI_pn3n3_maOLL_c20241231_zmso5dvAUape" style="text-align: right" title="2028">1,587</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">2029</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueYearFive_iI_pn3n3_maOLL_c20241231_zbxoUT7iGB32" style="text-align: right" title="2029">1,591</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="border-bottom: Black 1pt solid; text-align: left"><span style="font-size: 10pt">Thereafter</span></td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_981_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive_iI_pn3n3_maOLL_c20241231_z89IMHmoW7Z" style="border-bottom: Black 1pt solid; text-align: right" title="Thereafter">4,022</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left"><span style="font-size: 10pt">Total payments</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_98D_eus-gaap--LesseeOperatingLeaseLiabilityPaymentsDue_iTI_pn3n3_mtOLL_c20241231_zj4rtiCrVkZ4" style="text-align: right" title="Total payments">13,049</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"><span style="font-size: 10pt">Less amounts representing interest</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_985_eus-gaap--LesseeOperatingLeaseLiabilityUndiscountedExcessAmount_iNI_pn3n3_di_c20241231_zCKbGjA5pJs9" style="text-align: right" title="Less amounts representing interest">(2,752</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="border-bottom: Black 2.5pt double; text-align: left"><span style="font-size: 10pt">Total minimum payments required</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_982_eus-gaap--OperatingLeaseLiability_iI_pn3n3_c20241231_zMU4isszarqa" style="border-bottom: Black 2.5pt double; text-align: right" title="Total minimum payments required">10,297</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1975000 1909000 1965000 1587000 1591000 4022000 13049000 2752000 10297000 <p id="xdx_800_eus-gaap--AccountsPayableAndAccruedLiabilitiesDisclosureTextBlock_zSg4UIH6U0wf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; padding-right: 0"><span style="font-size: 10pt"><b>(8)</b></span></td> <td id="xdx_822_zl8ZENMloi23" style="text-align: justify; padding-right: 0"><span style="font-size: 10pt"><b>Accrued Expenses</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p id="xdx_89A_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zPHjZQMHeCM9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span id="xdx_8B1_zapZNUGV9tac">Accrued expenses consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td id="xdx_49E_20241231_z4UNBRQwWaO6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td colspan="3" id="xdx_49F_20231231_zIlRj0kgzxt5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maALCzPuI_zJgxC80xVO7l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; text-align: left">Accrued payroll and related expenses</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,824</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">255</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccruedAccountsPayable_iI_maALCzPuI_zpC7buxNDuv" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,597</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzPuI_zPbivzSTeobb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,428</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">486</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtALCzPuI_zaq3rIkhJTyl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 0.1in"> Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,849</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">869</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zvmU7HNEntmk" style="margin-top: 0; margin-bottom: 0"> </p> <p id="xdx_89A_eus-gaap--ScheduleOfAccruedLiabilitiesTableTextBlock_zPHjZQMHeCM9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span id="xdx_8B1_zapZNUGV9tac">Accrued expenses consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td id="xdx_49E_20241231_z4UNBRQwWaO6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td colspan="3" id="xdx_49F_20231231_zIlRj0kgzxt5" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_40E_eus-gaap--EmployeeRelatedLiabilitiesCurrent_iI_maALCzPuI_zJgxC80xVO7l" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; text-align: left">Accrued payroll and related expenses</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">1,824</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">255</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_405_ecustom--AccruedAccountsPayable_iI_maALCzPuI_zpC7buxNDuv" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Accrued accounts payable</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,597</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">128</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--OtherAccruedLiabilitiesCurrent_iI_maALCzPuI_zPbivzSTeobb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-bottom: 1pt">Other</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,428</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">486</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--AccruedLiabilitiesCurrent_iTI_mtALCzPuI_zaq3rIkhJTyl" style="vertical-align: bottom; background-color: White"> <td style="text-align: justify; padding-bottom: 2.5pt; padding-left: 0.1in"> Total</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">4,849</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">869</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 1824000 255000 1597000 128000 1428000 486000 4849000 869000 <p id="xdx_806_eus-gaap--IncomeTaxDisclosureTextBlock_zGDQvfgcK69a" style="margin-top: 0; margin-bottom: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><b>(9) <span id="xdx_829_zMG7gnp4UKdc">Income Taxes as Restated</span></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our net income tax provision, including both current and deferred, related to U.S. federal and state income taxes, is $<span id="xdx_903_eus-gaap--IncomeTaxExpenseBenefit_pn3n3_c20240101__20241231_zak3e1mWDszg" title="Income tax provision">227</span>. Our current federal and deferred tax expenses are zero.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_897_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_z8oZNGXTGfFa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B5_z76Sk2hnpA52">A reconciliation of the income tax provision (benefit) to the amount computed by applying the federal statutory income tax rate to income (loss) before income taxes for the years ended December 31, 2024 and 2023 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240101__20241231_zJFNnAftpHZ5" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2024 </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(As restated)</b> </p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20230101__20231231_zKzglfOsUf3b" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2023 </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(As restated)</b> </p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBz3M7_maITEBzJI0_zFjjDFH3Tka1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Income tax provision (benefit) at statutory rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">278</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(1,037</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_402_ecustom--OverunderAccrualOfIncomeTaxes_maITEBz3M7_maITEBzJI0_zgQOzzrsgRf1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Over/under accrual of income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--NondeductibleExpenses_maITEBz3M7_maITEBzJI0_zR8CnAQcU4T6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nondeductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationTaxCredits_iN_di_maITEBz3M7_msITEBzJI0_zFwQqKShjpF1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Record tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(116</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(118</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_maITEBz3M7_maITEBzJI0_zpyP0b4hu8Ql" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Permanent tax deduction stock options exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(27</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maITEBz3M7_maITEBzJI0_zb5DZQwL8KT1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income tax, net of federal benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">179</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(187</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--ExpirationOfNolCredits_maITEBz3M7_maITEBzJI0_zHCbkOzb6Jnd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expiration of net operating losses and credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,468</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_maITEBz3M7_maITEBzJI0_zB2FEu0slMQh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effect of change in deferred tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_maITEBz3M7_maITEBzJI0_z9mcow1wLFA7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expiration of stock options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBz3M7_maITEBzJI0_zlFqyiCUSTb6" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBz3M7_maITEBzJI0_zljj77qFgD5e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,165</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(203</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzJI0_zcoMwhbP4wvl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">227</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A8_zXg45TbeUGac" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_89E_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zqaENVp2DVWg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8BD_zvvTiqHM5z6j">Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred income taxes consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td id="xdx_49B_20241231_zUa4JPKMlbUg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td colspan="3" id="xdx_495_20231231_zvWAeL4ExmMk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2024 </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(As restated)</b> </p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2023</b> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(As restated)</b> </p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxLiabilitiesAbstract_iB_zEpPyswrDipj" style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Deferred tax liabilities:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxLiabilitiesPropertyPlantAndEquipment_iNI_pn3n3_di_maDTLzzT5_zMV6rPiUcl24" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Excess tax depreciation</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(496</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(477</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--Asc842OperatingLeaseAsset_iNI_pn3n3_di_maDTLzzT5_z5PKAxtJ7X35" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; text-indent: -0.125in">ASC 842 operating lease asset</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,938</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,975</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_pn3n3_di_mtDTLzzT5_msDTANzkIN_zsx96C9SFrGa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Total deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,434</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,452</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ComponentsOfDeferredTaxAssetsAbstract_iB_zwt2hCVdu6qh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pn3n3_maDTAGzqfm_zlinxz6Bh3hl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Net operating loss carryforwards</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">10,565</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">12,371</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwards_iI_pn3n3_maDTAGzqfm_zSQRCYQMHp0d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.25in; text-indent: -0.125in">179 Carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1058">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">245</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness_iI_pn3n3_maDTAGzqfm_zbpvUY7zh9Xb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">163(j) Business interest limitation carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">302</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsInventory_iI_pn3n3_maDTAGzqfm_zEg21TdgsUj6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Inventory and other allowances</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">639</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">229</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_pn3n3_maDTAGzqfm_zfGPqJW3ZDHf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Excess book amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsResearch_iI_pn3n3_maDTAGzqfm_zUjxg0LsZQyg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">174 research and experimental expenditures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,053</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">902</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_pn3n3_maDTAGzqfm_zfKanXTIMcwh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Share-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">788</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">530</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--TaxCredits_iI_pn3n3_maDTAGzqfm_zVjGopkPP6Mf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">189</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">118</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--Asc842OperatingLeaseLiability_iI_pn3n3_maDTAGzqfm_zCFdpyjlzTrg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">ASC 842 Operating Lease Liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,610</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsTaxDeferredExpense_iI_pn3n3_maDTAGzqfm_z4ySVFlqTVr9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; text-indent: -0.125in">Other accrued costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">293</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_mtDTAGzqfm_maDTANzkIN_zam2jDTtpKg2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,197</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,380</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_msDTANzkIN_z57EM4zUMBF9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; text-indent: -0.125in">Less: valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(13,763</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(14,928</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pn3n3_mtDTANzkIN_zTl3zTJrRpnk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.125in; text-indent: -0.125in">Deferred income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1091">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1092">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zxIA2k1AIsX1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">The valuation allowance decreased approximately $<span id="xdx_908_eus-gaap--ValuationAllowanceDeferredTaxAssetChangeInAmount_iN_pn5n6_di_c20240101__20241231_zFvwXyRVZCRk" title="Increase (decrease) in valuation allowance">1.2</span> million and $<span id="xdx_909_eus-gaap--ValuationAllowanceDeferredTaxAssetChangeInAmount_iN_pn5n6_di_c20230101__20231231_zcOUtmBqfdf1" title="Increase (decrease) in valuation allowance">0.2</span> million for the years ended December 31, 2024 and 2023, respectively (net of approximately $<span id="xdx_908_eus-gaap--TaxCreditCarryforwardValuationAllowance_iI_pn5n6_c20241231_zrO6zFOxFOy1" title="Valuation allowance, net operating loss carryforwards and credits">8.1</span> million and $<span id="xdx_900_eus-gaap--TaxCreditCarryforwardValuationAllowance_iI_pn5n6_c20231231_zEB8GzPOXbz">7.1</span> million for the years ended December 31, 2024 and 2023, respectively, for expiring net operating loss carryforwards and credits) due principally to the change in the net operating loss carryforward and uncertainty as to whether future taxable income will be generated prior to the expiration of the carryforward period. Under the Internal Revenue Code, certain ownership changes, including the prior issuance of preferred stock and our public offering of common stock, may subject us to annual limitations on the utilization of our net operating loss carryforward. As of December 31, 2024, it has been determined that we are not subject to annual limitations on the utilization of our net operating loss carryforward.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt">We have federal net operating loss carryforwards for tax purposes of approximately $<span id="xdx_908_eus-gaap--OperatingLossCarryforwards_iI_pn6n6_c20241231_zfo9inykYOB4" title="Net operating loss carryforwards">44</span> million on December 31, 2024. $<span id="xdx_905_eus-gaap--OperatingLossCarryforwards_iI_pn6n6_c20241231__us-gaap--TaxPeriodAxis__custom--Expiring2025To2037Member_zUwuHM74JWV9" title="Net operating loss carryforwards">36</span> million expire between <span id="xdx_90B_ecustom--OperatingLossCarryforwardsExpirationYearStart_c20240101__20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_z5RYeqvcoVd3" title="Operating loss carryforwards expiration period start">2024</span> and <span id="xdx_90A_ecustom--OperatingLossCarryforwardsExpirationYearEnd_c20240101__20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--DomesticCountryMember_zy33RSAhlg8h" title="Operating loss carryforwards expiration period end">2037</span>. All net operating loss carryforwards generated after January 1, 2018 do not expire. Therefore, $<span id="xdx_908_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20241231__us-gaap--TaxPeriodAxis__us-gaap--TaxYear2018Member_zbfLU9lLkeUb">7.7</span> million in net operating losses generated since January 1, 2018 do not expire. We have Illinois net loss deduction carryforwards for tax purposes of approximately $<span id="xdx_903_eus-gaap--OperatingLossCarryforwards_iI_pn5n6_c20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_ztqGrIcrsnoe">18.5</span> million on December 31, 2024. Due to the provisions of Illinois Public Act 102-0669 signed November 16, 2021, Illinois net loss deductions expire between <span id="xdx_90B_ecustom--OperatingLossCarryforwardsExpirationYearStart_c20240101__20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_ziQ1vtGxBnBk">2029</span> and <span id="xdx_90C_ecustom--OperatingLossCarryforwardsExpirationYearEnd_c20240101__20241231__us-gaap--IncomeTaxAuthorityAxis__us-gaap--StateAndLocalJurisdictionMember_zLmIOyBCg1hi" title="Operating loss carryforwards expiration period end">2039</span>.</p> 227000 <p id="xdx_897_eus-gaap--ScheduleOfEffectiveIncomeTaxRateReconciliationTableTextBlock_z8oZNGXTGfFa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span id="xdx_8B5_z76Sk2hnpA52">A reconciliation of the income tax provision (benefit) to the amount computed by applying the federal statutory income tax rate to income (loss) before income taxes for the years ended December 31, 2024 and 2023 is as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 90%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_49B_20240101__20241231_zJFNnAftpHZ5" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2024 </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(As restated)</b> </p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" id="xdx_496_20230101__20231231_zKzglfOsUf3b" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2023 </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(As restated)</b> </p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate_maITEBz3M7_maITEBzJI0_zFjjDFH3Tka1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 64%; text-align: left">Income tax provision (benefit) at statutory rate</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">278</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(1,037</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_402_ecustom--OverunderAccrualOfIncomeTaxes_maITEBz3M7_maITEBzJI0_zgQOzzrsgRf1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Over/under accrual of income taxes</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(9</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="text-align: left">)</td></tr> <tr id="xdx_40C_ecustom--NondeductibleExpenses_maITEBz3M7_maITEBzJI0_zR8CnAQcU4T6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Nondeductible expenses</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">5</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">23</td><td style="text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--IncomeTaxReconciliationTaxCredits_iN_di_maITEBz3M7_msITEBzJI0_zFwQqKShjpF1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Record tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(116</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(118</td><td style="text-align: left">)</td></tr> <tr id="xdx_408_eus-gaap--EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitAmount_maITEBz3M7_maITEBzJI0_zpyP0b4hu8Ql" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Permanent tax deduction stock options exercised</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(27</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(63</td><td style="text-align: left">)</td></tr> <tr id="xdx_403_eus-gaap--IncomeTaxReconciliationStateAndLocalIncomeTaxes_maITEBz3M7_maITEBzJI0_zb5DZQwL8KT1" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">State income tax, net of federal benefits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">179</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(187</td><td style="text-align: left">)</td></tr> <tr id="xdx_409_ecustom--ExpirationOfNolCredits_maITEBz3M7_maITEBzJI0_zHCbkOzb6Jnd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expiration of net operating losses and credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">990</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,468</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--IncomeTaxReconciliationChangeInEnactedTaxRate_maITEBz3M7_maITEBzJI0_zB2FEu0slMQh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Effect of change in deferred tax rate</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">49</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">45</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--IncomeTaxReconciliationNondeductibleExpenseShareBasedCompensationCost_maITEBz3M7_maITEBzJI0_z9mcow1wLFA7" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Expiration of stock options</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">46</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--IncomeTaxReconciliationOtherAdjustments_maITEBz3M7_maITEBzJI0_zlFqyiCUSTb6" style="vertical-align: bottom; background-color: White"> <td>Other</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(3</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">21</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance_maITEBz3M7_maITEBzJI0_zljj77qFgD5e" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Change in valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,165</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(203</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40F_eus-gaap--IncomeTaxExpenseBenefit_iT_mtITEBzJI0_zcoMwhbP4wvl" style="vertical-align: bottom; background-color: White"> <td style="padding-bottom: 2.5pt"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">227</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">6</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 278000 -1037000 -9000 -3000 5000 23000 116000 118000 -27000 -63000 179000 -187000 990000 1468000 49000 45000 46000 60000 -3000 21000 -1165000 -203000 227000 6000 <p id="xdx_89E_eus-gaap--ScheduleOfDeferredTaxAssetsAndLiabilitiesTableTextBlock_zqaENVp2DVWg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8BD_zvvTiqHM5z6j">Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. Significant components of our deferred income taxes consist of the following:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td id="xdx_49B_20241231_zUa4JPKMlbUg" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td> <td colspan="3" id="xdx_495_20231231_zvWAeL4ExmMk" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center"> </td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">As of December 31,</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="padding-bottom: 1pt; padding-left: 0.125in; text-indent: -0.125in"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2024 </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(As restated)</b> </p></td><td style="padding-bottom: 1pt"> </td><td style="padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>2023</b> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>(As restated)</b> </p></td><td style="padding-bottom: 1pt"> </td></tr> <tr id="xdx_40D_eus-gaap--DeferredTaxLiabilitiesAbstract_iB_zEpPyswrDipj" style="vertical-align: bottom"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Deferred tax liabilities:</td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--DeferredTaxLiabilitiesPropertyPlantAndEquipment_iNI_pn3n3_di_maDTLzzT5_zMV6rPiUcl24" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left; padding-left: 0.25in; text-indent: -0.125in">Excess tax depreciation</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(496</td><td style="width: 1%; text-align: left">)</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">(477</td><td style="width: 1%; text-align: left">)</td></tr> <tr id="xdx_40B_ecustom--Asc842OperatingLeaseAsset_iNI_pn3n3_di_maDTLzzT5_z5PKAxtJ7X35" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; text-indent: -0.125in">ASC 842 operating lease asset</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,938</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(1,975</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_405_eus-gaap--DeferredIncomeTaxLiabilities_iNTI_pn3n3_di_mtDTLzzT5_msDTANzkIN_zsx96C9SFrGa" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Total deferred tax liabilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,434</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2,452</td><td style="text-align: left">)</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: left"> </td><td style="font-weight: bold; text-align: right"> </td><td style="font-weight: bold; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ComponentsOfDeferredTaxAssetsAbstract_iB_zwt2hCVdu6qh" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.125in; text-indent: -0.125in">Deferred tax assets:</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_40F_eus-gaap--DeferredTaxAssetsOperatingLossCarryforwards_iI_pn3n3_maDTAGzqfm_zlinxz6Bh3hl" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Net operating loss carryforwards</td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">10,565</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td style="text-align: right">12,371</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwards_iI_pn3n3_maDTAGzqfm_zSQRCYQMHp0d" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.25in; text-indent: -0.125in">179 Carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1058">—</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">245</td><td style="text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsGeneralBusiness_iI_pn3n3_maDTAGzqfm_zbpvUY7zh9Xb" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">163(j) Business interest limitation carryforwards</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">90</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">302</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsInventory_iI_pn3n3_maDTAGzqfm_zEg21TdgsUj6" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Inventory and other allowances</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">639</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">229</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--DeferredTaxAssetsGoodwillAndIntangibleAssets_iI_pn3n3_maDTAGzqfm_zfGPqJW3ZDHf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Excess book amortization</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">60</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--DeferredTaxAssetsTaxCreditCarryforwardsResearch_iI_pn3n3_maDTAGzqfm_zUjxg0LsZQyg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">174 research and experimental expenditures</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,053</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">902</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefitsShareBasedCompensationCost_iI_pn3n3_maDTAGzqfm_zfKanXTIMcwh" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Share-based compensation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">788</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">530</td><td style="text-align: left"> </td></tr> <tr id="xdx_409_ecustom--TaxCredits_iI_pn3n3_maDTAGzqfm_zVjGopkPP6Mf" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">Tax credits</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">189</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">118</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_ecustom--Asc842OperatingLeaseLiability_iI_pn3n3_maDTAGzqfm_zCFdpyjlzTrg" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.25in; text-indent: -0.125in">ASC 842 Operating Lease Liability</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,520</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,610</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsTaxDeferredExpense_iI_pn3n3_maDTAGzqfm_z4ySVFlqTVr9" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; text-indent: -0.125in">Other accrued costs</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">293</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">13</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsGross_iTI_pn3n3_mtDTAGzqfm_maDTANzkIN_zam2jDTtpKg2" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 0.375in; text-indent: -0.125in">Total deferred tax assets</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">16,197</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">17,380</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 0.125in; text-indent: -0.125in"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--DeferredTaxAssetsValuationAllowance_iNI_pn3n3_di_msDTANzkIN_z57EM4zUMBF9" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 1pt; padding-left: 0.25in; text-indent: -0.125in">Less: valuation allowance</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(13,763</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">(14,928</td><td style="padding-bottom: 1pt; text-align: left">)</td></tr> <tr id="xdx_40A_eus-gaap--DeferredTaxAssetsLiabilitiesNet_iTI_pn3n3_mtDTANzkIN_zTl3zTJrRpnk" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 0.125in; text-indent: -0.125in">Deferred income taxes</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1091">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1092">—</span></td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 496000 477000 1938000 1975000 2434000 2452000 10565000 12371000 245000 90000 302000 639000 229000 60000 60000 1053000 902000 788000 530000 189000 118000 2520000 2610000 293000 13000 16197000 17380000 13763000 14928000 -1200000 -200000 8100000 7100000 44000000 36000000 2024 2037 7700000 18500000 2029 2039 <p id="xdx_803_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_zK9eM2DuIPsl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 24.5pt"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; padding-right: 0"><span style="font-size: 10pt">(10)</span></td> <td id="xdx_826_zQYR3hWPGcO2" style="text-align: justify; padding-right: 0"><span style="font-size: 10pt"><b>Capital Stock</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">As of December 31, 2024, and 2023, we had <span id="xdx_903_eus-gaap--PreferredStockSharesAuthorized_iI_pid_uShares_c20231231_zMKCvnOjguL3" title="Preferred stock, shares authorized"><span id="xdx_903_eus-gaap--PreferredStockSharesAuthorized_iI_pid_uShares_c20241231_zcvpetPDAzne" title="Preferred stock, shares authorized">24,088</span></span> authorized but unissued shares of preferred stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the Securities Purchase Agreement executed on March 1, 2024, the Company issued to Strandler <span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_pid_uShares_c20240229__20240301__us-gaap--StatementClassOfStockAxis__custom--SeriesXPreferredStockMember_zKdJPvMAcBsl" title="Number of shares issued">15,000</span> shares of the Company’s Series X Preferred Stock (the “Series X Preferred Stock”) at a purchase price per share of $<span id="xdx_909_eus-gaap--SharesIssuedPricePerShare_iI_pip0_uUSDPShares_c20240301__us-gaap--StatementClassOfStockAxis__custom--SeriesXPreferredStockMember_zLSdjXoeVpg5" title="Price per share">400</span>, for total consideration of $<span id="xdx_90C_eus-gaap--ProceedsFromIssuanceOfConvertiblePreferredStock_pp0p0_c20240229__20240301__us-gaap--StatementClassOfStockAxis__custom--SeriesXPreferredStockMember_zlRD3WUYzgml" title="Consideration from sale of shares">6,000,000</span>, in a transaction exempt from registration under the Securities Act of 1933, as amended, pursuant to Section 4(a)(2) thereof. The terms of the Preferred Stock are set forth in the Company’s Certificate of Designations to its Certificate of Incorporation, filed with the Secretary of State of the State of Delaware on March 4, 2024 (the “Certificate of Designations”). Under the Purchase Agreement, the Company granted Strandler customary registration rights with respect to shares of the Company’s common stock, par value $<span id="xdx_903_eus-gaap--CommonStockParOrStatedValuePerShare_iI_pid_uUSDPShares_c20240301_zLHl2yznH0xc" title="Common stock, par value (in dollars per share)">0.01</span> per share (the “Common Stock”), it may receive in connection with any conversion of Series X Preferred Stock into Common Stock, as described below. For so long as any amount of Preferred Stock was outstanding, the Purchase Agreement also (i) prevented the Company from paying any dividend on any shares of the Company’s capital stock (other than dividends consisting solely of Common Stock or rights to purchase Common Stock), (ii) prevented the Company from repurchasing any Common Stock, and (iii) subject to certain permitted exceptions, restricted the Company’s ability to permit any lien or other encumbrance on Company assets.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">At any time and from time to time, in whole or in part, following the Company properly filing an amendment (the “Certificate Amendment”) to its Certificate of Incorporation to increase the number of authorized shares of its Common Stock from <span id="xdx_90B_eus-gaap--CommonStockSharesAuthorized_iI_pid_uShares_c20240301_zadQXhvcmE58" title="Common stock, authorized">60,000,000</span> to <span id="xdx_907_ecustom--CommonStockSharesAuthorizedForConversionOfPreferredStock_iI_pid_uShares_c20240301__us-gaap--StatementClassOfStockAxis__custom--SeriesXPreferredStockMember_zxzD7bxkqxJl" title="Common stock, authorized for conversion of preferred stock">95,000,000</span>, each share of Series X Preferred Stock was convertible, at the option of the holder, into <span id="xdx_90A_eus-gaap--ConvertiblePreferredStockSharesIssuedUponConversion_iI_pid_uShares_c20241231_zisjS0cyjgU8">1,000</span> shares of Common Stock at no additional cost. If the Company had not properly filed, upon shareholder approval, the Certificate Amendment on or before August 1, 2024, then each share of Series X Preferred Stock would have been redeemable at the holder’s option, in whole or in part, without penalty or premium, at a redemption price equal to $<span id="xdx_90C_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pip0_uUSDPShares_c20240301_zQukecLv5aUe" title="Conversion price">420</span> per share (each, a “Redemption”). If the Company failed to fully pay any Redemption within five days of receiving notice, all unpaid amounts would bear interest at a rate of <span id="xdx_90A_ecustom--PreferredStockConvertibleInterestRateForUnpaidRedemption_iI_pid_dp_uPure_c20240301__us-gaap--StatementClassOfStockAxis__custom--SeriesXPreferredStockMember_zAbxbHCEMfGj" title="Interest rate">10</span>% per annum. In addition, in the event of a Change in Control (as defined in the Certificate of Designations) of the Company, each share of the Series X Preferred Stock would have been redeemable at the option of the holder, without penalty or premium, at a redemption price equal to $<span id="xdx_907_eus-gaap--PreferredStockConvertibleConversionPrice_iI_pip0_uUSDPShares_c20240301__us-gaap--StatementClassOfStockAxis__custom--SeriesXPreferredStockMember_zgAgNZwUPkpc" title="Conversion price">420</span> per share. Upon any conversion of Preferred Stock into Common Stock by Strandler, Strandler is required to hold the Common Stock received in the conversion for a period of 12 months.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Holders of Series X Preferred Stock (i) were not entitled to receive dividends, subject to customary anti-dilution protections, (ii) had no voting rights, and (iii) would have received a liquidation preference of $<span id="xdx_90F_eus-gaap--PreferredStockLiquidationPreference_iI_pip0_uUSDPShares_c20240301__us-gaap--StatementClassOfStockAxis__custom--SeriesXPreferredStockMember_z9EyeOjO45na" title="Liquidation preference">400</span> per share. The Series X Preferred Stock ranked senior in right of payment to all securities designated as junior securities, including Common Stock.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">ASC 815-15-25-17D provides guidance for assessing host contracts in the form of preferred shares, in which 25-17D(b) states that an investor’s ability to “convert a preferred share into a fixed number of common shares generally is viewed as an equity-like characteristic”. Because conversion of the Series X Preferred Shares were at the discretion of the Holder, conversion was in a fixed number of shares, dividends are not typically paid and cash settlement would only occur in the unlikely event of change in control, the host contract had the characteristics of, and was classified as, an equity instrument, and the embedded derivatives and host contract were considered clearly and closely related. As such, the embedded derivative did not require bifurcation and the Series X Preferred Shares were reported as mezzanine equity on the balance sheet during the period when these instruments were issued and outstanding.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Issuance costs associated with issuance of the Series X Preferred Stock were immaterial.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On June 18, 2024, the Company held a special meeting of stockholders where the Certificate Amendment was approved. The Certificate Amendment was filed with the State of Delaware on June 19, 2024. On June 20, 2024, Strandler converted its <span id="xdx_90E_eus-gaap--ConversionOfStockSharesConverted1_pid_uShares_c20240618__20240620__us-gaap--StatementClassOfStockAxis__custom--SeriesXPreferredStockMember_zK0pmdF8wM91" title="Shares converted">15,000</span> shares of Series X Preferred Stock to <span id="xdx_90F_eus-gaap--ConversionOfStockSharesIssued1_pid_uShares_c20240618__20240620__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zvQSlwUXTey9" title="Shares issued upon conversion">15,000,000</span> shares of Common Stock.</p> 24088 24088 15000 400 6000000 0.01 60000000 95000000 1000 420 0.10 420 400 15000 15000000 <p id="xdx_80A_eus-gaap--DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock_zg0Z4dCsqxXl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; padding-right: 0"><span style="font-size: 10pt"><b>(11)</b></span></td> <td id="xdx_821_zB4ugvHPrP79" style="text-align: justify; padding-right: 0"><span style="font-size: 10pt"><b>Stock Options and Stock Grants</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have entered into stock option agreements with certain officers, employees and directors. The stock options granted prior to the adoption of the 2019 Equity Compensation Plan (the “2019 Plan”) on November 19, 2019 expire <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--PlanNameAxis__custom--PriorTo2019PlanMember_zn2KDgDVa1hg" title="Expiration period">seven years</span> from the date of grant. Future options to be granted under the 2019 Plan will expire <span id="xdx_90B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--PlanNameAxis__custom--Options2019PlanMember_z69FvD6RSOH3" title="Expiration period">seven years</span> from the date of grant.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><span style="text-decoration: underline">Employee Stock Options</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"> </p> <p id="xdx_89B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock_zzLBZoD970ld" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span id="xdx_8BA_zTq9EHLtgoh1">We follow ASC Topic 718, Share-Based Payments, in which compensation expense is recognized only for share-based payments expected to vest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td id="xdx_498_20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z8lUSGAQLQSj" style="border-bottom: Black 1pt solid; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td colspan="2" id="xdx_49F_20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zzJKx161YC8c" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.25pt; text-align: center"><b>Years ended </b> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.75pt; text-align: center"><b>December 31,</b> </p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--StockOptionPlanExpense_zyASG3T2GfP" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Share-based compensation expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">725</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">773</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iE_zbdFXv6vl6Vf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining unrecognized compensation expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,057</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,118</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remaining weighted average-period, expense recognition (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zNbu5o90xRM5" title="Remaining weighted average-period, expense recognition (years)">2.4</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zIBEEluTPsF9" title="Remaining weighted average-period, expense recognition (years)">1.8</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A8_z2CIcQEHdpf5" style="margin-top: 0; margin-bottom: 0"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We use the Black-Scholes option pricing model to determine the fair value of stock-based compensation. The Black-Scholes model requires us to make several assumptions, including the estimated length of time employees will retain their vested stock options before exercising them (“expected term”), the estimated volatility of our common stock price over the expected term, and estimated forfeitures. Expected price volatility is based on the daily market rate changes of our stock. The active shares granted prior to fiscal 2020 had a contractual life of <span id="xdx_903_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardExpirationPeriod_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember__us-gaap--PlanNameAxis__custom--Options2010PlanMember_zPIV35bphOS7" title="Expiration period">10 years</span> as dictated by the 2010 Plan. The Black-Scholes model also requires a risk-free interest rate, which is based on the U.S. Treasury yield curve in effect at the time of the grant, and the dividend yield on our common stock, which is assumed to be zero since we do not pay dividends and have no current plans to do so in the future. Changes in these assumptions can materially affect the estimate of fair value of stock-based compensation and consequently, the related expense recognized on the statement of operations. We recognize stock-based compensation expense on a straight-line basis over the requisite service period.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_898_eus-gaap--ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock_z5CSZKednLJ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8BC_ztaMYRJsVinf">The following table illustrates the various assumptions used to calculate the Black-Scholes option pricing model for options granted for all years presented:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="9" style="font-weight: bold; text-align: center">Years Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; text-align: left; padding-left: 2pt">Weighted-average risk-free interest rates:</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pip0_dp_uPure_c20240101__20241231_z34RXfJT5wC1" style="width: 10%; text-align: right" title="Weighted-average risk-free interest rates">4.3</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pip0_dp_uPure_c20230101__20231231_zNtyokQegThe" style="width: 10%; text-align: right">3.8</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Dividend yield:</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pip0_dp_uPure_c20240101__20241231_ztUVU9RiZ5Vi" style="text-align: right" title="Dividend yield">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pip0_dp_uPure_c20230101__20231231_zoniETxuIqM2" style="text-align: right" title="Dividend yield">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2pt">Weighted-average expected life (years) of the option:</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231_z1obsLEuiZcl" style="text-align: right" title="Weighted-average expected life (years) of the option">4</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231_zruiLi6dv8hb" style="text-align: right" title="Weighted-average expected life (years) of the option">4</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Weighted-average expected stock price volatility:</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate_pip0_dp_uPure_c20240101__20241231_zwMR97o4nbL8" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-average expected stock price volatility">91</td><td style="border-bottom: Black 1pt solid; text-align: left">%</td><td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate_pip0_dp_uPure_c20230101__20231231_zMP03Drd6VT6" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-average expected stock price volatility">93</td><td style="border-bottom: Black 1pt solid; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 2pt">Weighted-average fair value of the options granted:</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240101__20241231_z6U6joqSWrF4" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average fair value of the options granted">1.74</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230101__20231231_zA8YcpPpQmRb" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average fair value of the options granted">0.50</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zh4BR5kmz7J1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_893_ecustom--AdditionalDisclosuresForOptionsGrantedTableTextBlock_zak9X3kKyHJ6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B6_zeiUd0Mgwd7f">Additional disclosures for options granted for all years presented:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years Ended December 31,</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%">Vesting period (years) of shares granted in period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z7163eBcfmn3" style="width: 10%; text-align: right" title="Vesting period (years) of shares granted in period">3</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zWAnnursMBae" style="width: 10%; text-align: right" title="Vesting period (years) of shares granted in period">3</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contractual life (years) of shares granted in period</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardContractualLife_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zgOEahV1szsf" style="text-align: right" title="Contractual life (years) of shares granted in period">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardContractualLife_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zE065ZRQSpw" style="text-align: right" title="Contractual life (years) of shares granted in period">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Estimated forfeitures</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsFortfeitureRate_pid_dp_uPure_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zwfLkwAaJm7c" style="text-align: right" title="Estimated forfeitures">8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsFortfeitureRate_pid_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zYcGS5Exsgng" style="text-align: right" title="Estimated forfeitures">8</td><td style="text-align: left">%</td></tr> </table> <p id="xdx_8A4_zgC3PyTSCoI8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <p id="xdx_890_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zvUGmfxyH0Sl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span id="xdx_8BD_z18hjPycodjk">The following table summarizes the option activity for our employees and directors during the year ended December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Weighted</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Weighted</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Average</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Aggregate</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Average</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Remaining</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Intrinsic</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Shares</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Exercise Price</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Contractual</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Value</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr> <td style="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"><b>Options</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>(Rounded)</b></span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>per Share</b></span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Term (Years)</b></span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>(000s)</b></span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; width: 48%; padding-right: 0"><span style="font-size: 10pt">Outstanding on January 1, 2024</span></td> <td style="width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 1%; padding-right: 0"> </td> <td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_uShares_c20240101__20241231_zAFodQCyrYUk" style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 10%; text-align: right; padding-right: 0" title="Shares Outstanding, Beginning"><span style="font-size: 10pt">3,525,966</span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20240101__20241231_zMoLJaM9zHm4" style="vertical-align: bottom; width: 10%; text-align: right; padding-right: 0" title="Shares Outstanding, Beginning, (per share)"><span style="font-size: 10pt">1.22</span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zJp2jiq8IJM5" style="vertical-align: bottom; width: 10%; text-align: right; padding-right: 0" title="Weighted Average Remaining Contractual Term, Outstanding, end"><span style="font-size: 10pt">4.2</span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="width: 1%; padding-right: 0"> </td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20240101__20241231_zAngg6RtYrub" style="vertical-align: bottom; width: 10%; text-align: right; padding-right: 0" title="Shares Outstanding, Beginning (Intrinsic value)"><span style="font-size: 10pt">160</span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Granted</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_uShares_c20240101__20241231_zop4ZrGtuhJ7" style="vertical-align: bottom; text-align: right; padding-right: 0" title="Granted"><span style="font-size: 10pt">388,000</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20241231_zihti9lYeijd" style="vertical-align: top; text-align: right; padding-right: 0" title="Granted (per share)"><span style="font-size: 10pt">2.40</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"> </td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Exercised</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_uShares_c20240101__20241231_ziC9Vz5n4dq3" style="vertical-align: bottom; text-align: right; padding-right: 0" title="Exercised"><span style="font-size: 10pt">(455,995</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">)</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20241231_z1r4PmD2xL39" style="vertical-align: top; text-align: right; padding-right: 0" title="Exercised (per share)"><span style="font-size: 10pt">0.52</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"> </td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Forfeited or expired</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_uShares_c20240101__20241231_zTrqQwcMnhhf" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right; padding-right: 0" title="Forfeited or expired"><span style="font-size: 10pt">(246,232</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">)</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20241231_zt94vv8FNhGh" style="vertical-align: top; text-align: right; padding-right: 0" title="Forfeited or expired (per share)"><span style="font-size: 10pt">1.13</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"> </td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"> </td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Outstanding on December 31, 2024</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_uShares_c20240101__20241231_zpEcZZ22jIv7" style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right; padding-right: 0" title="Shares Outstanding, Ending"><span style="font-size: 10pt">3,211,739</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20240101__20241231_zTwzRaQFyjn" style="vertical-align: top; text-align: right; padding-right: 0" title="Shares Outstanding, Ending, (per share)"><span style="font-size: 10pt">1.47</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_ztRUDYnJqgr5" style="vertical-align: top; text-align: right; padding-right: 0" title="Weighted Average Remaining Contractual Term, Outstanding, end"><span style="font-size: 10pt">4.4</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20240101__20241231_zEZzbJlVZiU8" style="vertical-align: top; text-align: right; padding-right: 0" title="Shares Outstanding, Ending (Intrinsic value)"><span style="font-size: 10pt">3,961</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Exercisable on December 31, 2024</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_uShares_c20240101__20241231_zpQ81Rk5odTf" style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right; padding-right: 0" title="Shares Exercisable"><span style="font-size: 10pt">2,206,666</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20240101__20241231_z8yxi4SLpHBk" style="vertical-align: top; text-align: right; padding-right: 0" title="Shares Exercisable, (per share)"><span style="font-size: 10pt">1.46</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231_zGG4kQKa7Sz" style="vertical-align: top; text-align: right; padding-right: 0" title="Shares Exercisable (years)"><span style="font-size: 10pt">3.6</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_c20241231_zj1PZbMl2id9" style="vertical-align: top; text-align: right; padding-right: 0" title="Shares Exercisable (Intrinsic value)"><span style="font-size: 10pt">2,984</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Shares available for grant</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_uShares_c20241231_z7Oy0GGJESN5" style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right; padding-right: 0" title="Shares available for grant"><span style="font-size: 10pt">62,900</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> </table> <p id="xdx_8AE_zLhYhDKebNPa" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_892_ecustom--StockOptionsRecognizedTableTextBlock_zScBcAotbyOb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B1_zyHMU2KJHEXe">The aggregate intrinsic value in the table above is based on our closing stock price of $<span id="xdx_905_eus-gaap--SharePrice_iI_pid_uUSDPShares_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zgaP5DIpcLSj" title="Closing stock share price">2.26</span> on the last business day for the year ended December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">Years Ended December 31,</td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td id="xdx_490_20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zmShocyARgAb" style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td colspan="3" id="xdx_49E_20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zpHkR73164D3" style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_pid_uShares_zk9tX3EubcA1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; padding-left: 2pt">Shares exercised</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">455,995</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">294,074</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_zotFC0SVwdT5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 2pt">Total intrinsic value</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">370</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">195</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ProceedsFromStockOptionsExercised_zdbuIBDbQIXg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 2pt">Cash received</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">239</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">154</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td></tr> </table> <p id="xdx_8A2_zmVJ0Kw4l0Dd" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Based on our election of the “with and without” approach, no realized tax benefits from stock options were recognized for the years ended December 31, 2024 and 2023.</p> P7Y P7Y <p id="xdx_89B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableTableTextBlock_zzLBZoD970ld" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span id="xdx_8BA_zTq9EHLtgoh1">We follow ASC Topic 718, Share-Based Payments, in which compensation expense is recognized only for share-based payments expected to vest.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 70%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td id="xdx_498_20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z8lUSGAQLQSj" style="border-bottom: Black 1pt solid; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td style="border-bottom: Black 1pt solid; text-align: center"> </td> <td colspan="2" id="xdx_49F_20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zzJKx161YC8c" style="border-bottom: Black 1pt solid; text-align: center"> </td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 17.25pt; text-align: center"><b>Years ended </b> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 21.75pt; text-align: center"><b>December 31,</b> </p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr id="xdx_405_eus-gaap--StockOptionPlanExpense_zyASG3T2GfP" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 44%; text-align: left">Share-based compensation expense</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">725</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">773</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized_iE_zbdFXv6vl6Vf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Remaining unrecognized compensation expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,057</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,118</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Remaining weighted average-period, expense recognition (years)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zNbu5o90xRM5" title="Remaining weighted average-period, expense recognition (years)">2.4</span></td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_909_eus-gaap--EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zIBEEluTPsF9" title="Remaining weighted average-period, expense recognition (years)">1.8</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> </table> 725000 773000 1057000 1118000 P2Y4M24D P1Y9M18D P10Y <p id="xdx_898_eus-gaap--ScheduleOfShareBasedPaymentAwardEmployeeStockPurchasePlanValuationAssumptionsTableTextBlock_z5CSZKednLJ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8BC_ztaMYRJsVinf">The following table illustrates the various assumptions used to calculate the Black-Scholes option pricing model for options granted for all years presented:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td colspan="9" style="font-weight: bold; text-align: center">Years Ended December 31,</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; text-align: left; padding-left: 2pt">Weighted-average risk-free interest rates:</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pip0_dp_uPure_c20240101__20241231_z34RXfJT5wC1" style="width: 10%; text-align: right" title="Weighted-average risk-free interest rates">4.3</td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_pip0_dp_uPure_c20230101__20231231_zNtyokQegThe" style="width: 10%; text-align: right">3.8</td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Dividend yield:</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pip0_dp_uPure_c20240101__20241231_ztUVU9RiZ5Vi" style="text-align: right" title="Dividend yield">0</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate_pip0_dp_uPure_c20230101__20231231_zoniETxuIqM2" style="text-align: right" title="Dividend yield">0</td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2pt">Weighted-average expected life (years) of the option:</td><td> </td> <td style="text-align: left"> </td><td id="xdx_98C_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20240101__20241231_z1obsLEuiZcl" style="text-align: right" title="Weighted-average expected life (years) of the option">4</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1_dtY_c20230101__20231231_zruiLi6dv8hb" style="text-align: right" title="Weighted-average expected life (years) of the option">4</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Weighted-average expected stock price volatility:</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate_pip0_dp_uPure_c20240101__20241231_zwMR97o4nbL8" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-average expected stock price volatility">91</td><td style="border-bottom: Black 1pt solid; text-align: left">%</td><td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_982_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsWeightedAverageVolatilityRate_pip0_dp_uPure_c20230101__20231231_zMP03Drd6VT6" style="border-bottom: Black 1pt solid; text-align: right" title="Weighted-average expected stock price volatility">93</td><td style="border-bottom: Black 1pt solid; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 2pt">Weighted-average fair value of the options granted:</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20240101__20241231_z6U6joqSWrF4" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average fair value of the options granted">1.74</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98C_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue_pid_uUSDPShares_c20230101__20231231_zA8YcpPpQmRb" style="border-bottom: Black 2.5pt double; text-align: right" title="Weighted-average fair value of the options granted">0.50</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td></tr> </table> 0.043 0.038 0 0 P4Y P4Y 0.91 0.93 1.74 0.50 <p id="xdx_893_ecustom--AdditionalDisclosuresForOptionsGrantedTableTextBlock_zak9X3kKyHJ6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B6_zeiUd0Mgwd7f">Additional disclosures for options granted for all years presented:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Years Ended December 31,</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%">Vesting period (years) of shares granted in period</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_981_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_z7163eBcfmn3" style="width: 10%; text-align: right" title="Vesting period (years) of shares granted in period">3</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zWAnnursMBae" style="width: 10%; text-align: right" title="Vesting period (years) of shares granted in period">3</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Contractual life (years) of shares granted in period</td><td> </td> <td style="text-align: left"> </td><td id="xdx_981_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardContractualLife_dtY_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zgOEahV1szsf" style="text-align: right" title="Contractual life (years) of shares granted in period">7</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98A_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardContractualLife_dtY_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zE065ZRQSpw" style="text-align: right" title="Contractual life (years) of shares granted in period">7</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"> </td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">Estimated forfeitures</td><td> </td> <td style="text-align: left"> </td><td id="xdx_983_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsFortfeitureRate_pid_dp_uPure_c20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zwfLkwAaJm7c" style="text-align: right" title="Estimated forfeitures">8</td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td id="xdx_982_ecustom--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsFortfeitureRate_pid_dp_uPure_c20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zYcGS5Exsgng" style="text-align: right" title="Estimated forfeitures">8</td><td style="text-align: left">%</td></tr> </table> P3Y P3Y P7Y P7Y 0.08 0.08 <p id="xdx_890_eus-gaap--ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock_zvUGmfxyH0Sl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"><span id="xdx_8BD_z18hjPycodjk">The following table summarizes the option activity for our employees and directors during the year ended December 31, 2024:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-align: justify"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Weighted</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Weighted</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Average</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Aggregate</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Average</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Remaining</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Intrinsic</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Shares</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Exercise Price</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Contractual</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Value</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr> <td style="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"><b>Options</b></span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>(Rounded)</b></span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>per Share</b></span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>Term (Years)</b></span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center; padding-right: 0"><span style="font-size: 10pt"><b>(000s)</b></span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; width: 48%; padding-right: 0"><span style="font-size: 10pt">Outstanding on January 1, 2024</span></td> <td style="width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 1%; padding-right: 0"> </td> <td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iS_pid_uShares_c20240101__20241231_zAFodQCyrYUk" style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 10%; text-align: right; padding-right: 0" title="Shares Outstanding, Beginning"><span style="font-size: 10pt">3,525,966</span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iS_pid_uUSDPShares_c20240101__20241231_zMoLJaM9zHm4" style="vertical-align: bottom; width: 10%; text-align: right; padding-right: 0" title="Shares Outstanding, Beginning, (per share)"><span style="font-size: 10pt">1.22</span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20230101__20231231_zJp2jiq8IJM5" style="vertical-align: bottom; width: 10%; text-align: right; padding-right: 0" title="Weighted Average Remaining Contractual Term, Outstanding, end"><span style="font-size: 10pt">4.2</span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="width: 1%; padding-right: 0"> </td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iS_c20240101__20241231_zAngg6RtYrub" style="vertical-align: bottom; width: 10%; text-align: right; padding-right: 0" title="Shares Outstanding, Beginning (Intrinsic value)"><span style="font-size: 10pt">160</span></td> <td style="vertical-align: bottom; width: 1%; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Granted</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_980_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross_pid_uShares_c20240101__20241231_zop4ZrGtuhJ7" style="vertical-align: bottom; text-align: right; padding-right: 0" title="Granted"><span style="font-size: 10pt">388,000</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_98F_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20241231_zihti9lYeijd" style="vertical-align: top; text-align: right; padding-right: 0" title="Granted (per share)"><span style="font-size: 10pt">2.40</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"> </td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Exercised</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_984_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_iN_pid_di_uShares_c20240101__20241231_ziC9Vz5n4dq3" style="vertical-align: bottom; text-align: right; padding-right: 0" title="Exercised"><span style="font-size: 10pt">(455,995</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">)</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_986_eus-gaap--ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20241231_z1r4PmD2xL39" style="vertical-align: top; text-align: right; padding-right: 0" title="Exercised (per share)"><span style="font-size: 10pt">0.52</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"> </td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Forfeited or expired</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod_iN_pid_di_uShares_c20240101__20241231_zTrqQwcMnhhf" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right; padding-right: 0" title="Forfeited or expired"><span style="font-size: 10pt">(246,232</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">)</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_989_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice_pid_uUSDPShares_c20240101__20241231_zt94vv8FNhGh" style="vertical-align: top; text-align: right; padding-right: 0" title="Forfeited or expired (per share)"><span style="font-size: 10pt">1.13</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"> </td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"> </td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Outstanding on December 31, 2024</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber_iE_pid_uShares_c20240101__20241231_zpEcZZ22jIv7" style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right; padding-right: 0" title="Shares Outstanding, Ending"><span style="font-size: 10pt">3,211,739</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_98A_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20240101__20241231_zTwzRaQFyjn" style="vertical-align: top; text-align: right; padding-right: 0" title="Shares Outstanding, Ending, (per share)"><span style="font-size: 10pt">1.47</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_986_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2_dtY_c20240101__20241231_ztRUDYnJqgr5" style="vertical-align: top; text-align: right; padding-right: 0" title="Weighted Average Remaining Contractual Term, Outstanding, end"><span style="font-size: 10pt">4.4</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_98E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue_iE_c20240101__20241231_zEZzbJlVZiU8" style="vertical-align: top; text-align: right; padding-right: 0" title="Shares Outstanding, Ending (Intrinsic value)"><span style="font-size: 10pt">3,961</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Exercisable on December 31, 2024</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_98B_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber_iE_pid_uShares_c20240101__20241231_zpQ81Rk5odTf" style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right; padding-right: 0" title="Shares Exercisable"><span style="font-size: 10pt">2,206,666</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice_iE_pid_uUSDPShares_c20240101__20241231_z8yxi4SLpHBk" style="vertical-align: top; text-align: right; padding-right: 0" title="Shares Exercisable, (per share)"><span style="font-size: 10pt">1.46</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_98D_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1_dtY_c20240101__20241231_zGG4kQKa7Sz" style="vertical-align: top; text-align: right; padding-right: 0" title="Shares Exercisable (years)"><span style="font-size: 10pt">3.6</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">$</span></td> <td id="xdx_98B_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableIntrinsicValue1_iI_c20241231_zj1PZbMl2id9" style="vertical-align: top; text-align: right; padding-right: 0" title="Shares Exercisable (Intrinsic value)"><span style="font-size: 10pt">2,984</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: rgb(204,238,255)"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"> </td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> <tr style="background-color: White"> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt">Shares available for grant</span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td id="xdx_987_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant_iI_pid_uShares_c20241231_z7Oy0GGJESN5" style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right; padding-right: 0" title="Shares available for grant"><span style="font-size: 10pt">62,900</span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; text-align: right; padding-right: 0"><span style="font-size: 10pt"> </span></td> <td style="vertical-align: bottom; padding-right: 0"><span style="font-size: 10pt"> </span></td></tr> </table> 3525966 1.22 P4Y2M12D 160000 388000 2.40 455995 0.52 246232 1.13 3211739 1.47 P4Y4M24D 3961000 2206666 1.46 P3Y7M6D 2984000 62900 <p id="xdx_892_ecustom--StockOptionsRecognizedTableTextBlock_zScBcAotbyOb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8B1_zyHMU2KJHEXe">The aggregate intrinsic value in the table above is based on our closing stock price of $<span id="xdx_905_eus-gaap--SharePrice_iI_pid_uUSDPShares_c20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zgaP5DIpcLSj" title="Closing stock share price">2.26</span> on the last business day for the year ended December 31, 2024.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">Years Ended December 31,</td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td id="xdx_490_20240101__20241231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zmShocyARgAb" style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td colspan="3" id="xdx_49E_20230101__20231231__us-gaap--AwardTypeAxis__us-gaap--EmployeeStockOptionMember_zpHkR73164D3" style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_408_eus-gaap--StockIssuedDuringPeriodSharesStockOptionsExercised_pid_uShares_zk9tX3EubcA1" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; padding-left: 2pt">Shares exercised</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">455,995</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right">294,074</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisesInPeriodTotalIntrinsicValue_zotFC0SVwdT5" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 2pt">Total intrinsic value</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">370</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">195</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td></tr> <tr id="xdx_40C_eus-gaap--ProceedsFromStockOptionsExercised_zdbuIBDbQIXg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 2pt">Cash received</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">239</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right">154</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td></tr> </table> 2.26 455995 294074 370000 195000 239000 154000 <p id="xdx_80C_eus-gaap--PensionAndOtherPostretirementBenefitsDisclosureTextBlock_zD0YDyfCxAA" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; padding-right: 0"><span style="font-size: 10pt"><b>(12)</b></span></td> <td id="xdx_82A_z4VZ9Or8HvAj" style="text-align: justify; padding-right: 0"><span style="font-size: 10pt"><b>401(k) Profit-Sharing Plan</b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We have a 401(k) profit-sharing plan covering substantially all employees who meet defined service requirements. Contributions made in 2024 and 2023 aggregated to <span id="xdx_907_eus-gaap--DefinedContributionPlanCostRecognized_pn3n3_c20240101__20241231_zNXJPocFXIO1" title="Defined contribution plan, cost">$206</span> and <span id="xdx_90A_eus-gaap--DefinedContributionPlanCostRecognized_pn3n3_c20230101__20231231_zze1X1RwCGo3" title="Defined contribution plan, cost">$191</span>, respectively.</p> 206000 191000 <p id="xdx_802_eus-gaap--ConcentrationRiskDisclosureTextBlock_zYqqFvoqg0X6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; padding-right: 0"><span style="font-size: 10pt"><b>(13)</b></span></td> <td id="xdx_82C_zlYgPyX4sZPj" style="text-align: justify; padding-right: 0"><span style="font-size: 10pt"><b>Significant Customers </b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_89E_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zVDDS6Fa6951" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We had three significant customers for the year ended December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8BE_zgX9aLKYuxJk">Revenues from these three customers, as a percentage of total Company revenue, was approximately:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the years ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Customer #</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Product Category</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 10%; text-align: center">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 32%; text-align: left">Consumer Products</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zVnFr1Mpm0d1" title="Revenue from customers">32</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_z3JVqPgtELpg" title="Revenue from customers">17</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">Personal Care Ingredients</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CustomerTwoMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zR04So8udyxh" title="Revenue from customers">13</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--CustomerTwoMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_z7GyJqjWaTy4" title="Revenue from customers">25</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left; padding-bottom: 1pt">Consumer Products</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CustomerThreeMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zvdvlrVhbLx5" title="Revenue from customers">7</span></td><td style="border-bottom: Black 1pt solid; text-align: left">%</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--CustomerThreeMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zlzvNSSlqdwl" title="Revenue from customers">15</span></td><td style="border-bottom: Black 1pt solid; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="padding-bottom: 2.5pt; padding-left: 0.5in">Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CustomersOneThroughThreeMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zBbHwhNZD2v7" title="Revenue from customers">52</span></td><td style="border-bottom: Black 2.5pt double; text-align: left">%</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--CustomersOneThroughThreeMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zVsliQgV3it7" title="Revenue from customers">57</span></td><td style="border-bottom: Black 2.5pt double; text-align: left">%</td></tr> </table> <p id="xdx_8AE_zA7Ddc11NUD1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_891_ecustom--ContractWithCustomerAccountReceivablesTableTextBlock_z9XXxt5b4q66" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span id="xdx_8B3_zRM1yQJ0bzLf">Accounts receivable balances for these three customers were approximately as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Customer #</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Product Category</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 10%; text-align: left">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 52%; text-align: left; padding-left: 5.4pt">Consumer Products</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20241231__srt--MajorCustomersAxis__custom--CustomerOneMember_zN2nERxSA6Uc" style="width: 15%; text-align: right" title="Total">2,366</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20231231__srt--MajorCustomersAxis__custom--CustomerOneMember_zhw42Tz799Xi" style="width: 15%; text-align: right" title="Total">1,288</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left; padding-left: 5.4pt">Personal Care Ingredients</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20241231__srt--MajorCustomersAxis__custom--CustomerTwoMember_zVtJFvGX6XO8" style="text-align: right" title="Total">160</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20231231__srt--MajorCustomersAxis__custom--CustomerTwoMember_zwFJgz4HAoAf" style="text-align: right" title="Total"><span style="-sec-ix-hidden: xdx2ixbrl1287">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left; padding-left: 5.4pt">Consumer Products</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20241231__srt--MajorCustomersAxis__custom--CustomerThreeMember_zxsRZX5AnWte" style="text-align: right" title="Total">309</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20231231__srt--MajorCustomersAxis__custom--CustomerThreeMember_zjrte14P7uhb" style="text-align: right" title="Total">864</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="padding-left: 5.4pt">Total</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20241231_zNr1kOpvc7c8" style="text-align: right" title="Total">2,835</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20231231_z13hNmqFLO6b" style="text-align: right" title="Total">2,152</td><td style="text-align: left"> </td></tr> </table> <p id="xdx_8A3_ztVvruzxmS03" style="margin: 0"> </p> <p style="margin: 0"></p> <p style="margin: 0"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt; text-align: justify; text-indent: 35.7pt">We currently have exclusive supply agreements with BASF Corporation (“BASF”), our second largest customer, that have contingencies outlined which could potentially result in the sale of production equipment from the Company to the customer intended to provide capacity sufficient to meet the customer’s production needs. This outcome may occur if we fail to meet certain performance requirements. In the event of an equipment sale, upon incurring a triggering event, the equipment would be sold to the customer at either <span id="xdx_90C_ecustom--EquipmentSaleNetBookValueEquipment_iI_pid_dp_uPure_c20241231__us-gaap--SupplyCommitmentAxis__us-gaap--SupplyCommitmentMember_zxLud85iLdc2" title="Equipment sale - net book value">115</span>% of the equipment’s net book value or the greater of <span id="xdx_90F_ecustom--EquipmentSaleOriginalBookValueOfEquipmentAndUpgrades_iI_pid_dp_uPure_c20241231__us-gaap--SupplyCommitmentAxis__us-gaap--SupplyCommitmentMember_zJtyuesH1zTc" title="Equipment sale- original book value">30</span>% of the original book value of such equipment, and any associated upgrades to it, or <span id="xdx_90B_ecustom--EquipmentSaleNetBookValueEquipment_iI_pid_dp_uPure_c20241231__us-gaap--SupplyCommitmentAxis__us-gaap--SupplyCommitmentMember_zVcVZtm1fa1h" title="Equipment sale - net book value">115</span>% of the equipment’s net book value, depending on the equipment and related products.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt; text-align: justify; text-indent: 35.7pt"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">If a triggering event were to occur and BASF elected to proceed with the equipment sale mentioned above, we would lose both significant revenue and the ability to generate significant revenue to replace that which was lost in the near term. Replacement of necessary equipment that could be purchased and removed by the customer pursuant to this triggering event could take in excess of twelve months. Any additional capital outlays required to rebuild capacity would probably be greater than the proceeds from the purchase of the assets as dictated by our agreement with the customer. Similar consequences would occur if we were determined to have materially breached certain other provisions of the supply agreement with BASF. Any such event could result in the loss of some of our key staff and line employees due to economic realities. We believe that our employees are a critical component of our success, and it could be difficult to replace them quickly. Given the occurrence of any such event, we might not be able to hire and retain skilled employees given the stigma relating to such an event and its impact on us.</p> <p id="xdx_89E_eus-gaap--SchedulesOfConcentrationOfRiskByRiskFactorTextBlock_zVDDS6Fa6951" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">We had three significant customers for the year ended December 31, 2024.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span id="xdx_8BE_zgX9aLKYuxJk">Revenues from these three customers, as a percentage of total Company revenue, was approximately:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">For the years ended</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td><td style="font-weight: bold"> </td> <td style="font-weight: bold; text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="6" style="font-weight: bold; text-align: center">December 31,</td><td style="font-weight: bold"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Customer #</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; font-weight: bold; text-align: center">Product Category</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 10%; text-align: center">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 32%; text-align: left">Consumer Products</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zVnFr1Mpm0d1" title="Revenue from customers">32</span></td><td style="width: 1%; text-align: left">%</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left"> </td><td style="width: 10%; text-align: right"><span id="xdx_90C_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--CustomerOneMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_z3JVqPgtELpg" title="Revenue from customers">17</span></td><td style="width: 1%; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">Personal Care Ingredients</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CustomerTwoMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zR04So8udyxh" title="Revenue from customers">13</span></td><td style="text-align: left">%</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right"><span id="xdx_90E_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--CustomerTwoMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_z7GyJqjWaTy4" title="Revenue from customers">25</span></td><td style="text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: center">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left; padding-bottom: 1pt">Consumer Products</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CustomerThreeMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zvdvlrVhbLx5" title="Revenue from customers">7</span></td><td style="border-bottom: Black 1pt solid; text-align: left">%</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right"><span id="xdx_906_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--CustomerThreeMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zlzvNSSlqdwl" title="Revenue from customers">15</span></td><td style="border-bottom: Black 1pt solid; text-align: left">%</td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: center"> </td><td style="text-align: left"> </td><td> </td> <td style="padding-bottom: 2.5pt; padding-left: 0.5in">Total</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20240101__20241231__srt--MajorCustomersAxis__custom--CustomersOneThroughThreeMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zBbHwhNZD2v7" title="Revenue from customers">52</span></td><td style="border-bottom: Black 2.5pt double; text-align: left">%</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20230101__20231231__srt--MajorCustomersAxis__custom--CustomersOneThroughThreeMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--SalesRevenueNetMember_zVsliQgV3it7" title="Revenue from customers">57</span></td><td style="border-bottom: Black 2.5pt double; text-align: left">%</td></tr> </table> 0.32 0.17 0.13 0.25 0.07 0.15 0.52 0.57 <p id="xdx_891_ecustom--ContractWithCustomerAccountReceivablesTableTextBlock_z9XXxt5b4q66" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"><span id="xdx_8B3_zRM1yQJ0bzLf">Accounts receivable balances for these three customers were approximately as follows (in thousands):</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-left: auto; border-collapse: collapse; width: 70%; margin-right: auto"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: left">Customer #</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">Product Category</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2024</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">December 31, 2023</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 10%; text-align: left">1</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 52%; text-align: left; padding-left: 5.4pt">Consumer Products</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_98B_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20241231__srt--MajorCustomersAxis__custom--CustomerOneMember_zN2nERxSA6Uc" style="width: 15%; text-align: right" title="Total">2,366</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_980_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20231231__srt--MajorCustomersAxis__custom--CustomerOneMember_zhw42Tz799Xi" style="width: 15%; text-align: right" title="Total">1,288</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">2</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left; padding-left: 5.4pt">Personal Care Ingredients</td><td> </td> <td style="text-align: left"> </td><td id="xdx_984_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20241231__srt--MajorCustomersAxis__custom--CustomerTwoMember_zVtJFvGX6XO8" style="text-align: right" title="Total">160</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_989_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20231231__srt--MajorCustomersAxis__custom--CustomerTwoMember_zwFJgz4HAoAf" style="text-align: right" title="Total"><span style="-sec-ix-hidden: xdx2ixbrl1287">—</span></td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left">3</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left; padding-left: 5.4pt">Consumer Products</td><td> </td> <td style="text-align: left"> </td><td id="xdx_986_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20241231__srt--MajorCustomersAxis__custom--CustomerThreeMember_zxsRZX5AnWte" style="text-align: right" title="Total">309</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98B_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20231231__srt--MajorCustomersAxis__custom--CustomerThreeMember_zjrte14P7uhb" style="text-align: right" title="Total">864</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left"> </td><td style="text-align: left"> </td><td> </td> <td style="padding-left: 5.4pt">Total</td><td> </td> <td style="text-align: left">$</td><td id="xdx_986_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20241231_zNr1kOpvc7c8" style="text-align: right" title="Total">2,835</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left">$</td><td id="xdx_985_eus-gaap--ContractWithCustomerReceivableAfterAllowanceForCreditLossCurrent_iI_c20231231_z13hNmqFLO6b" style="text-align: right" title="Total">2,152</td><td style="text-align: left"> </td></tr> </table> 2366000 1288000 160000 309000 864000 2835000 2152000 1.15 0.30 1.15 <p id="xdx_80E_eus-gaap--SegmentReportingDisclosureTextBlock_zbYjcpKKkAX8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; padding-right: 0"><span style="font-size: 10pt"><b>(14)</b></span></td> <td id="xdx_822_zXw9jrz0MGI5" style="text-align: justify; padding-right: 0"><span style="font-size: 10pt"><b>Business Segmentation and Geographical Distribution </b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The Company operates as a single business segment, in which the factors used to make this determination include differences in products, services, geographical areas, regulatory environment, and other such criteria considered for the appropriateness of aggregation. The types of products and services for which the sole reportable segment, which is the same as the Company as a whole, offered by the company is discussed in Note 1. Since the Company operates as a single segment, there were no intra-entity sales or transfers.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">The role of Chief Operating Decision Maker for the Company is comprised of a committee that includes the Chief Executive and Chief Operating Officers. The Chief Operating Decision Maker assesses performance for the single segment and decides how to allocate resources based on net income that also is reported on the income statement as net income. The measure of segment assets is reported on the balance sheet as total assets. The accounting policies of the sole segment are the same as those described in the summary of significant accounting policies in Note 2.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_892_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zn2aS4hIAeNg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span>The Chief Operating Decision Maker uses gross profit and net income to evaluate Company performance and in what way to allocate resources. <span id="xdx_8B7_zKm5c6nVuife">Significant segment expenses, which are the same as the entity as a whole, are as follows</span>:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">Years Ended December 31,</td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td id="xdx_498_20240101__20241231_zfUq9WMF4QI9" style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td colspan="3" id="xdx_496_20230101__20231231_z4g80TOHLqN7" style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024<br/> (As Restated)</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023<br/> (As Restated)</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z7cYZd2xnXKd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; text-align: left; padding-left: 2pt">Total revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">52,347</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">37,297</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--EmployeeCostsMember_zTPuLhtCP0r7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Employee costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,811</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--ContractorsAndProfessionalServicesMember_ze352Nh9yJ36" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2pt">Contractors and professional services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,815</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,588</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--MaterialsAndSuppliesMember_zeaUVjGmTPB7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Materials and supplies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,695</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,216</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--DepreciationMember_zbiPvCg03Wrb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">928</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">742</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--InterestExpensesMember_z2BdK1HibWe3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">670</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">838</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--OtherIncomeExpenseMember_zQobLGengvKj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2pt">Other income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--TaxExpenseMember_zTXn1VnYzc0b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Tax expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">318</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">101</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--FacilitiesMember_zSq4fgODQkXg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2pt">Facilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,870</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--ShippingMember_zHirVpG0j9xe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 2pt">Shipping</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,193</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">760</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--TestingMember_zKeet8bDyqo8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2pt">Testing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">917</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,078</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--ITServicesMember_zPnl9f1iw46g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">IT services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,091</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,060</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--InsuranceMember_zmQyjOmIvPyd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2pt">Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">785</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--ManufacturingOtherExpenseMember_zUTHQvsme071" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Manufacturing other expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">992</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">604</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--SellingGeneralAndAdministrativeOtherExpenseMember_zH2llnaSuphi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2pt">Selling, general and administrative Other expense</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,500</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">849</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--CostsAndExpenses_z7xEpnp1lbvf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Total expenses</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">51,248</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">42,234</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NetIncomeLoss_z6OEVGIlSoW2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 2pt">Net income (loss)</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,099</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,937</td><td style="border-bottom: Black 2.5pt double; text-align: left">)</td></tr> </table> <p id="xdx_8A1_zHU9C3iHctK8" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Revenue from international sources approximated $<span id="xdx_90A_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--StatementGeographicalAxis__us-gaap--NonUsMember_zJBOQ0kHPXw1" title="Revenues">1,825</span> and $<span id="xdx_904_eus-gaap--Revenues_pn3n3_c20230101__20231231__srt--StatementGeographicalAxis__us-gaap--NonUsMember_zIImRziasQm7" title="Revenues">2,918</span> for the years ended December 31, 2024 and 2023, respectively. As part of our revenue from international sources, we recognized approximately $<span id="xdx_905_eus-gaap--Revenues_pn3n3_c20240101__20241231__srt--ProductOrServiceAxis__us-gaap--ProductMember_zI8J6lB3Im98" title="Revenues">366</span> and $<span id="xdx_903_eus-gaap--Revenues_pn3n3_c20230101__20231231__srt--ProductOrServiceAxis__us-gaap--ProductMember_zhGa54PxzLx2" title="Revenues">1,664</span> in product revenue from German companies, in the aggregate, for the years ended December 31, 2024 and 2023, respectively.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <p id="xdx_892_eus-gaap--DisaggregationOfRevenueTableTextBlock_zOfFgS5hQ7M" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our operations comprise a single business segment and all of our long-lived assets are located within the United States. We categorize our revenue stream into three main product categories, personal care ingredients, advanced materials and consumer products. <span id="xdx_8B9_zPfEqpqHC7S9">The revenues for 2024 and 2023 by category are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>For the years ended  </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>December 31</b> </p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Product Category</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; text-align: left">Consumer Products</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--ProductOrServiceAxis__custom--ConsumerProductsMember_z6OwdEZfVOAj" style="width: 10%; text-align: right" title="Consumer Products">44,373</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--ProductOrServiceAxis__custom--ConsumerProductsMember_zQU2fNYN02dd" style="width: 10%; text-align: right" title="Consumer Products">25,211</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Personal Care Ingredients</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--ProductOrServiceAxis__custom--PersonalCareIngredientsMember_z9enOf5Mdf7k" style="text-align: right" title="Personal Care Ingredients">6,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--ProductOrServiceAxis__custom--PersonalCareIngredientsMember_zS9a5eun0QRf" style="text-align: right" title="Personal Care Ingredients">9,277</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Advanced Materials</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--ProductOrServiceAxis__custom--AdvancedMaterialsMember_zvTVXA28Arc9" style="border-bottom: Black 1pt solid; text-align: right" title="Advanced Materials">1,147</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--ProductOrServiceAxis__custom--AdvancedMaterialsMember_zdrm4NgPLQF1" style="border-bottom: Black 1pt solid; text-align: right" title="Advanced Materials">2,809</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231_zF9AqYAZyX39" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">52,347</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231_zkRVEJKXgg5f" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">37,297</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> <p id="xdx_8A4_zZqexJRfvzW" style="margin-top: 0; margin-bottom: 0"> </p> <p id="xdx_892_eus-gaap--ScheduleOfSegmentReportingInformationBySegmentTextBlock_zn2aS4hIAeNg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"><span>The Chief Operating Decision Maker uses gross profit and net income to evaluate Company performance and in what way to allocate resources. <span id="xdx_8B7_zKm5c6nVuife">Significant segment expenses, which are the same as the entity as a whole, are as follows</span>:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td style="font-weight: bold; text-align: center">Years Ended December 31,</td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td id="xdx_498_20240101__20241231_zfUq9WMF4QI9" style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td style="font-weight: bold; text-align: center"> </td> <td colspan="3" id="xdx_496_20230101__20231231_z4g80TOHLqN7" style="font-weight: bold; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="text-align: center"> </td><td style="font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024<br/> (As Restated)</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023<br/> (As Restated)</td><td style="border-bottom: Black 1pt solid; font-weight: bold"> </td></tr> <tr id="xdx_40D_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_z7cYZd2xnXKd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; text-align: left; padding-left: 2pt">Total revenue</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">52,347</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">37,297</td><td style="width: 1%; text-align: left"> </td></tr> <tr id="xdx_40E_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--EmployeeCostsMember_zTPuLhtCP0r7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Employee costs</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">12,933</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">10,811</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--ContractorsAndProfessionalServicesMember_ze352Nh9yJ36" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2pt">Contractors and professional services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">7,815</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">6,588</td><td style="text-align: left"> </td></tr> <tr id="xdx_400_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--MaterialsAndSuppliesMember_zeaUVjGmTPB7" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Materials and supplies</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">18,695</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">15,216</td><td style="text-align: left"> </td></tr> <tr id="xdx_40A_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--DepreciationMember_zbiPvCg03Wrb" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2pt">Depreciation</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">928</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">742</td><td style="text-align: left"> </td></tr> <tr id="xdx_40B_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--InterestExpensesMember_z2BdK1HibWe3" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Interest expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">670</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">838</td><td style="text-align: left"> </td></tr> <tr id="xdx_403_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--OtherIncomeExpenseMember_zQobLGengvKj" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2pt">Other income</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(2</td><td style="text-align: left">)</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">(4</td><td style="text-align: left">)</td></tr> <tr id="xdx_400_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--TaxExpenseMember_zTXn1VnYzc0b" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Tax expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">318</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">101</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--FacilitiesMember_zSq4fgODQkXg" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2pt">Facilities</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">3,413</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">2,870</td><td style="text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--ShippingMember_zHirVpG0j9xe" style="vertical-align: bottom; background-color: White"> <td style="padding-left: 2pt">Shipping</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,193</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">760</td><td style="text-align: left"> </td></tr> <tr id="xdx_40D_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--TestingMember_zKeet8bDyqo8" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2pt">Testing</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">917</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,078</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--ITServicesMember_zPnl9f1iw46g" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">IT services</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,091</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">1,060</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--InsuranceMember_zmQyjOmIvPyd" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="padding-left: 2pt">Insurance</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">785</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">721</td><td style="text-align: left"> </td></tr> <tr id="xdx_407_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--ManufacturingOtherExpenseMember_zUTHQvsme071" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Manufacturing other expense</td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">992</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td style="text-align: right">604</td><td style="text-align: left"> </td></tr> <tr id="xdx_405_eus-gaap--CostsAndExpenses_hus-gaap--NatureOfExpenseAxis__custom--SellingGeneralAndAdministrativeOtherExpenseMember_zH2llnaSuphi" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-left: 2pt">Selling, general and administrative Other expense</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">1,500</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">849</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td></tr> <tr id="xdx_402_eus-gaap--CostsAndExpenses_z7xEpnp1lbvf" style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-left: 2pt">Total expenses</td><td> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">51,248</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td style="border-bottom: Black 1pt solid; text-align: right">42,234</td><td style="border-bottom: Black 1pt solid; text-align: left"> </td></tr> <tr id="xdx_401_eus-gaap--NetIncomeLoss_z6OEVGIlSoW2" style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 2.5pt; padding-left: 2pt">Net income (loss)</td><td> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">1,099</td><td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left"> </td><td style="border-bottom: Black 2.5pt double; text-align: right">(4,937</td><td style="border-bottom: Black 2.5pt double; text-align: left">)</td></tr> </table> 52347000 37297000 12933000 10811000 7815000 6588000 18695000 15216000 928000 742000 670000 838000 -2000 -4000 318000 101000 3413000 2870000 1193000 760000 917000 1078000 1091000 1060000 785000 721000 992000 604000 1500000 849000 51248000 42234000 1099000 -4937000 1825000 2918000 366000 1664000 <p id="xdx_892_eus-gaap--DisaggregationOfRevenueTableTextBlock_zOfFgS5hQ7M" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Our operations comprise a single business segment and all of our long-lived assets are located within the United States. We categorize our revenue stream into three main product categories, personal care ingredients, advanced materials and consumer products. <span id="xdx_8B9_zPfEqpqHC7S9">The revenues for 2024 and 2023 by category are as follows:</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in"> </p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%"> <tr style="vertical-align: bottom"> <td> </td><td style="padding-bottom: 1pt"> </td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>For the years ended  </b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><b>December 31</b> </p></td><td style="padding-bottom: 1pt"> </td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; font-weight: bold">Product Category</td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2024</td><td style="padding-bottom: 1pt; font-weight: bold"> </td><td style="font-weight: bold; padding-bottom: 1pt"> </td> <td colspan="2" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2023</td><td style="padding-bottom: 1pt; font-weight: bold"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="width: 74%; text-align: left">Consumer Products</td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_986_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--ProductOrServiceAxis__custom--ConsumerProductsMember_z6OwdEZfVOAj" style="width: 10%; text-align: right" title="Consumer Products">44,373</td><td style="width: 1%; text-align: left"> </td><td style="width: 1%"> </td> <td style="width: 1%; text-align: left">$</td><td id="xdx_983_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--ProductOrServiceAxis__custom--ConsumerProductsMember_zQU2fNYN02dd" style="width: 10%; text-align: right" title="Consumer Products">25,211</td><td style="width: 1%; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left">Personal Care Ingredients</td><td> </td> <td style="text-align: left"> </td><td id="xdx_987_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--ProductOrServiceAxis__custom--PersonalCareIngredientsMember_z9enOf5Mdf7k" style="text-align: right" title="Personal Care Ingredients">6,827</td><td style="text-align: left"> </td><td> </td> <td style="text-align: left"> </td><td id="xdx_98E_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--ProductOrServiceAxis__custom--PersonalCareIngredientsMember_zS9a5eun0QRf" style="text-align: right" title="Personal Care Ingredients">9,277</td><td style="text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: rgb(204,238,255)"> <td style="text-align: left; padding-bottom: 1pt">Advanced Materials</td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231__srt--ProductOrServiceAxis__custom--AdvancedMaterialsMember_zvTVXA28Arc9" style="border-bottom: Black 1pt solid; text-align: right" title="Advanced Materials">1,147</td><td style="padding-bottom: 1pt; text-align: left"> </td><td style="padding-bottom: 1pt"> </td> <td style="border-bottom: Black 1pt solid; text-align: left"> </td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231__srt--ProductOrServiceAxis__custom--AdvancedMaterialsMember_zdrm4NgPLQF1" style="border-bottom: Black 1pt solid; text-align: right" title="Advanced Materials">2,809</td><td style="padding-bottom: 1pt; text-align: left"> </td></tr> <tr style="vertical-align: bottom; background-color: White"> <td style="text-align: left; padding-bottom: 2.5pt">Total Sales</td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_988_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20240101__20241231_zF9AqYAZyX39" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">52,347</td><td style="padding-bottom: 2.5pt; text-align: left"> </td><td style="padding-bottom: 2.5pt"> </td> <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_984_eus-gaap--RevenueFromContractWithCustomerExcludingAssessedTax_c20230101__20231231_zkRVEJKXgg5f" style="border-bottom: Black 2.5pt double; text-align: right" title="Total revenue">37,297</td><td style="padding-bottom: 2.5pt; text-align: left"> </td></tr> </table> 44373000 25211000 6827000 9277000 1147000 2809000 52347000 37297000 <p id="xdx_80E_eus-gaap--SubsequentEventsTextBlock_zc9DrFVjnz0l" style="margin-top: 0; margin-bottom: 0"></p> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: top"> <td style="width: 48px; padding-right: 0"><span style="font-size: 10pt"><b>(15)</b></span></td> <td id="xdx_829_znWgQTnR1T8j" style="text-align: justify; padding-right: 0"><span style="font-size: 10pt"><b>Subsequent Event </b></span></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 7, 2025, the Company announced its rebranding as Solesence, Inc., marking a new chapter in its commitment to innovation, self-expression, and inclusivity in skin health. The company’s stock will continue to trade under the NANX ticker symbol. Its corporate website transitioned to solesence.com, historic Company financials and disclosures are now available at ir.solesence.com. Nanophase Technologies Corporation changed its legal name to Solesence, Inc. by amending its certificate of incorporation with the state of Delaware on March 10, 2025.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">As explained in Note 4, the Company’s debt has been refinanced to extend maturity to May 31, 2028. See Note 4 for additional information.</p> 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. 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. 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. 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. 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. 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.