XML 59 R44.htm IDEA: XBRL DOCUMENT v3.24.1
Note 2 - Summary of Significant Accounting Policies (Details Textual)
$ in Thousands
3 Months Ended 12 Months Ended 21852 Months Ended
Dec. 31, 2023
USD ($)
Jun. 30, 2023
USD ($)
Mar. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Sep. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2023
USD ($)
Dec. 31, 2022
USD ($)
Dec. 31, 2022
USD ($)
Oct. 04, 2022
USD ($)
Jan. 01, 2022
USD ($)
Accounts Receivable, Allowance for Credit Loss $ 100     $ 400     $ 100 $ 400 $ 400    
Cash, Uninsured Amount 300           300        
Goodwill, Impairment Loss       500 $ 90,900 $ 29,000 0 120,409      
Goodwill 0     0 $ 0   0 0 0    
Impairment of Intangible Assets, Finite-Lived     $ 16,700       39,728 [1],[2] 3,118 [3]      
Warrants and Rights Outstanding 1,000     3,500     1,000 3,500 $ 3,500    
Selling and Marketing Expense [Member]                      
Advertising Expense             9,100 11,600      
Shipping and Handling Costs             32,400 47,400      
Other Expense [Member]                      
Gain (Loss), Foreign Currency Transaction, before Tax               (200)      
Other Income [Member]                      
Gain (Loss), Foreign Currency Transaction, before Tax             $ 200        
Paper Business and Kitchen Appliance Business [Member]                      
Impairment of Intangible Assets, Finite-Lived 300 $ 22,800                  
Step and Go [Member]                      
Goodwill, Impairment Loss               $ 500      
Goodwill                   $ 500  
Business Combination, Recognized Identifiable Assets Acquired, Goodwill, and Liabilities Assumed, Net                   $ 700  
Customer Concentration Risk [Member] | Accounts Receivable [Member]                      
Number of Customers             4 3      
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Three Customers [Member]                      
Concentration Risk, Percentage                 43.00%    
Customer Concentration Risk [Member] | Accounts Receivable [Member] | Four Customers [Member]                      
Concentration Risk, Percentage             32.00%        
Customer Concentration Risk [Member] | Revenue Benchmark [Member] | Amazon Sales Platform [Member]                      
Concentration Risk, Percentage             88.00% 89.00%      
Other Noncurrent Assets [Member]                      
Security Deposit 100     100     $ 100 $ 100 $ 100    
Operating Lease, Right of Use Asset, NonCurrent                     $ 100
Prepaid Expenses and Other Current Assets [Member]                      
Operating Lease, Right-of-Use Asset                     700
Operating Lease, Right of Use Asset, Current                     200
Prepaid Expenses and Other Current Assets [Member] | Midcap Credit Facility [Member]                      
Security Deposit       900       900 900    
Prepaid Expenses and Other Current Assets [Member] | Letter of Credit [Member]                      
Security Deposit 2,000     2,000     2,000 2,000 2,000    
Accrued Liability [Member]                      
Contract with Customer, Refund Liability $ 200     $ 600     $ 200 $ 600 $ 600    
Operating Lease, Liability                     700
Other Current Liabilities [Member]                      
Operating Lease, Liability, Current                     200
Other Noncurrent Liabilities [Member]                      
Operating Lease, Liability, Noncurrent                     $ 100
[1] As of December 31, 2023, the weighted-average remaining amortization period for Trademarks and Customer Relations was 7.21 years and 7.33 years, respectively. The weighted-average remaining amortization period for total intangibles was 7.26 years.
[2] On March 20, 2023, the Company made certain leadership changes in our essential oil business resulting in a change in strategy and outlook for the business which will result in a reduced portfolio offering. This reduction in the portfolio will be impactful to our essential oil business's future revenues and profitability and as a result the Company made revisions to our internal forecasts. The Company concluded that this change was an interim triggering event for the three months ending March 31, 2023 indicating the carrying value of our essential oil business's long-lived assets including trademarks may not be recoverable. Accordingly, the Company performed an interim impairment test of the trademark and assessed the recoverability of the related intangible assets by using level 3 inputs and comparing the carrying value of an asset group to the net undiscounted cash flow expected to be generated. The recoverability test indicated that certain definite-live trademark intangible assets were impaired. The Company concluded the carrying value of the trademark exceeded its estimated fair value which was determined utilizing the relief-from-royalty method to determine discounted projected future cash flows which resulted in an impairment charge. The Company recorded an intangible impairment charge of $16.7 million in the three months ending March 31, 2023 within impairment loss on intangibles on the condensed consolidated statement of operations. During the three months ended June 30, 2023, the Company had a substantial decrease in its market capitalization, primarily relating to a decrease in share price. Further, the Company continues to see reduced net revenues across its portfolio primarily due to the current macroeconomic environment reducing demand for consumer goods. Finally, during the three months ending June 30, 2023, the Company implemented a strategy of rationalizing certain less profitable products and reducing its product offering, specifically related to its kitchen appliance products. As a result of this rationalization, along with the reduced demand for its products, the Company has made certain revisions to its internal forecasts for its Paper business and Kitchen appliance business. The Company concluded that these factors were an interim triggering event for the three months ending June 30, 2023 indicating the carrying value of our Paper and Kitchen appliance business’s long-lived assets, including trademarks, may not be recoverable. Accordingly, the Company performed an interim impairment test of the trademark and assessed the recoverability of the related intangible assets by using level 3 inputs and comparing the carrying value of an asset group to the net undiscounted cash flow expected to be generated. The recoverability test indicated that certain definite-live trademark intangible assets were impaired. The Company concluded the carrying value of the trademark exceeded its estimated fair value which was determined utilizing the relief-from-royalty method to determine discounted projected future cash flows which resulted in an impairment charge. The Company recorded an intangible impairment charge of $22.8 million for the Paper business and Kitchen appliance business during the three months ending June 30, 2023 within impairment loss on intangibles on the condensed consolidated statement of operations. During the three months ended December 31, 2023, The Company continued to see reduced revenue in its paper business resulting in certain revisions to its internal forecasts. Due to these revisions in forecast due to reduced demand,, The Company concluded this was an interim triggering event for the three months ending December 31, 2023 indicating the carrying value of our Paper business’s long-lived assets, including trademarks, may not be recoverable. Accordingly, the Company performed an interim impairment test of the trademark and assessed the recoverability of the related intangible assets by using level 3 inputs and comparing the carrying value of an asset group to the net undiscounted cash flow expected to be generated. The recoverability test indicated that certain definite-live trademark intangible assets were impaired. The Company concluded the carrying value of the trademark exceeded its estimated fair value which was determined utilizing the relief-from-royalty method to determine discounted projected future cash flows which resulted in an impairment charge. The Company recorded an intangible impairment charge of $0.3 million for the Paper business during the three months ending December 31, 2023 within impairment loss on intangibles on the consolidated statement of operations.
[3] Certain asset groups experienced a significant decrease in sales and contribution margin through September 30, 2022. This was considered an interim triggering event for the three months ended September 30, 2022. Based on the analysis of comparing the undiscounted cash flow to the carrying value of the asset group, one group tested indicated that the assets may not be recoverable. For this asset group, the Company compared the fair value to the carrying amount of the asset group and recorded an intangible impairment charge of $3.1 million for the year-ended December 31, 2022.