Subsequent Events

9 Months Ended

Sep. 30, 2025

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On October 3, 2025, the Company amended the Line of Credit to increase the standby letter of credit sub-limit from $10,000,000 to $15,000,000. All other terms of the Line of Credit agreement remained unchanged.

On October 8, 2025, the Company repaid $1,000,000 of the remaining borrowing outstanding under the Line of Credit.

On October 13, 2025, the Company determined that certain of its manufacturing machinery met the criteria for assets for sale subsequent to September 30, 2025. Such machinery was used in the Company's Texas facility through October 13, 2025 and had a carrying value of $572,000 as of that date. The machinery is expected to be disposed of during the fourth quarter of 2025 with a sales price of $400,000, which will yield an impairment of $172,000.

On October 15, 2025, Lollicup was redomesticated in the State of Texas.

On November 4, 2025, the Company's Board of Directors approved a share repurchase program (the “Share Repurchase Program”) authorizing the Company to repurchase up to $15,000,000 of its common stock. Repurchases of the Company’s outstanding common stock will be made in accordance with applicable securities laws and at such times, in such manner, prices and amounts as determined by the Company’s Chief Executive Officer and Chief Financial Officer, including in open market transactions, through privately negotiated transactions, or pursuant to a trading plan separately adopted in the future, subject to the requirements of the Securities Exchange Act of 1934, as amended. The authorization for the Share Repurchase Program has no expiration, and may be modified, suspended or terminated at any time and for any reason at the discretion of the Company’s Board of Directors. Under the Share Repurchase Program, no shares will be repurchased directly from directors or officers of the Company. The authorization for the Share Repurchase Program does not obligate the Company to purchase any particular amount of the Company’s common stock.

On November 4, 2025, the Company's Board of Directors declared a quarterly cash dividend of $0.45 per share on the Company's common stock, which will be paid on or about November 28, 2025 to shareholders of record at the close of business on November 21, 2025.