10-Q/A Filing

FIEE, INC. CIK: 1467761 Q1 2022

Filing Information

Form Type	10-Q/A
Accession Number	`0001493152-22-023613`
Period End Date	20220331
Filing Date	20220819
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	form10-qa_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 79 Income Statement 32 Cash Flow Statement 75 Stockholders Equity 14

Balance Sheet 79 line items

Line Item	Tag	Value	Unit	Period
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$246.53K	USD	Point-in-time
Allowance for doubtful accounts	`AllowanceForDoubtfulAccountsReceivableCurrent`	$236.82K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	2.00M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$397.71K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.57M	USD	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$500.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Restricted cash	`RestrictedCashAndCashEquivalents`	$500.00K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net of allowance of doubtful accounts of $246,534 and $236,819 as of March 31, 2022 and December 31, 2021, respectively	`AccountsReceivableNetCurrent`	$4.88M	USD	Point-in-time
Accounts receivable, net of allowance of doubtful accounts of $246,534 and $236,819 as of March 31, 2022 and December 31, 2021, respectively	`AccountsReceivableNetCurrent`	$5.20M	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	60.00M	shares	Point-in-time
Inventories, net	`InventoryNet`	$31.35M	USD	Point-in-time
Inventories, net	`InventoryNet`	$33.89M	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$641.37K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$587.88K	USD	Point-in-time
Common Stock, Par or Stated Value Per Share	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	45.89M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	46.07M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$52.43M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$47.74M	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$805.68K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	46.07M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	45.89M	shares	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$762.82K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$241.63K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$195.82K	USD	Point-in-time
Goodwill	`Goodwill`	$58.87K	USD	Point-in-time
Goodwill	`Goodwill`	$58.87K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$232.31K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$262.70K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$544.74K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$645.56K	USD	Point-in-time
Total assets	`Assets`	$49.68M	USD	Point-in-time
Total assets	`Assets`	$54.30M	USD	Point-in-time
Bank credit line	`LinesOfCreditCurrent`	$5.07M	USD	Point-in-time
Bank credit line	`LinesOfCreditCurrent`	$7.07M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$12.46M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$8.21M	USD	Point-in-time
Current maturities of government loan	`LoansPayableCurrent`	$34.24K	USD	Point-in-time
Current maturities of government loan	`LoansPayableCurrent`	$7.73K	USD	Point-in-time
Current maturities of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$143.49K	USD	Point-in-time
Current maturities of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$123.89K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$5.28M	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$4.75M	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$291.30K	USD	Point-in-time
Deferred revenue, current	`DeferredRevenueCurrent`	$404.45K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$20.57M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.27M	USD	Point-in-time
Operating lease liabilities, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$98.81K	USD	Point-in-time
Operating lease liabilities, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$72.20K	USD	Point-in-time
Deferred revenue, noncurrent	`DeferredRevenueNoncurrent`	$443.45K	USD	Point-in-time
Deferred revenue, noncurrent	`DeferredRevenueNoncurrent`	$427.57K	USD	Point-in-time
Total liabilities	`Liabilities`	$23.81M	USD	Point-in-time
Total liabilities	`Liabilities`	$21.07M	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred Stock, authorized: 2,000,000 shares at $0.01 par value; 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock, authorized: 2,000,000 shares at $0.01 par value; 0 shares issued and outstanding	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, authorized: 60,000,000 shares at $0.01 par value; issued and outstanding: 46,065,817 shares at March 31, 2022 and 45,885,043 shares at December 31, 2021 respectively	`CommonStockValue`	$458.85K	USD	Point-in-time
Common Stock, authorized: 60,000,000 shares at $0.01 par value; issued and outstanding: 46,065,817 shares at March 31, 2022 and 45,885,043 shares at December 31, 2021 respectively	`CommonStockValue`	$460.66K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$89.97M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$89.31M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-61.82M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-59.29M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$7.79M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$28.61M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$30.49M	USD	Point-in-time
Total stockholders equity	`StockholdersEquity`	$8.03M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$49.68M	USD	Point-in-time
Total liabilities and stockholders equity	`LiabilitiesAndStockholdersEquity`	$54.30M	USD	Point-in-time

Income Statement 32 line items

Line Item	Tag	Value	Unit	Period
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$15.02M	USD	1 Quarter
Net sales	`RevenueFromContractWithCustomerExcludingAssessedTax`	$13.30M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$9.91M	USD	1 Quarter
Cost of goods sold	`CostOfRevenue`	$9.11M	USD	1 Quarter
Gross profit	`GrossProfit`	$5.10M	USD	1 Quarter
Gross profit	`GrossProfit`	$4.19M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$3.17M	USD	1 Quarter
Selling and marketing	`SellingAndMarketingExpense`	$3.65M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.08M	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$1.45M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.39M	USD	1 Quarter
Research and development	`ResearchAndDevelopmentExpense`	$1.54M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$5.64M	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$6.65M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-535.70K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-2.45M	USD	1 Quarter
Interest expense, net	`InterestExpense`	$78.10K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$28.32K	USD	1 Quarter
Gain on forgiveness of debt (Note 5)	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on forgiveness of debt (Note 5)	`GainsLossesOnExtinguishmentOfDebt`	$20.00K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-78.10K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-8.32K	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-2.53M	USD	1 Quarter
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-544.02K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$6.00K	USD	1 Quarter
Income tax provision	`IncomeTaxExpenseBenefit`	$1.50K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-545.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.54M	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic and diluted net loss per share	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
Weighted average common and common equivalent shares: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	35.25M	shares	1 Quarter
Weighted average common and common equivalent shares: Basic and diluted	`WeightedAverageNumberOfSharesOutstandingBasic`	46.00M	shares	1 Quarter

Cash Flow Statement 75 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-545.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.54M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$130.73K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$167.29K	USD	1 Quarter
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$18.92K	USD	1 Quarter
Amortization of right-of-use assets	`OperatingLeaseRightOfUseAssetAmortizationExpense`	$45.80K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$17.61K	USD	1 Quarter
Amortization of debt issuance costs	`AmortizationOfFinancingCosts`	$2.42K	USD	1 Quarter
Amortization of sales contract costs	`AmortizationOfSalesContractCosts`	$5.57K	USD	1 Quarter
Amortization of sales contract costs	`AmortizationOfSalesContractCosts`	$9.61K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$562.88K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$404.72K	USD	1 Quarter
Provision for accounts receivable allowances	`ProvisionForDoubtfulAccounts`	-	USD	1 Quarter
Provision for accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$9.71K	USD	1 Quarter
Provision for inventory reserves	`InventoryWriteDown`	$40.27K	USD	1 Quarter
Provision for inventory reserves	`InventoryWriteDown`	-	USD	1 Quarter
Non-cash loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Non-cash loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	$20.00K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-557.31K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$331.31K	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$1.48M	USD	1 Quarter
Inventories	`IncreaseDecreaseInInventories`	$-2.51M	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$3.62K	USD	1 Quarter
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$53.49K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$110.45K	USD	1 Quarter
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$-17.78K	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-1.37M	USD	1 Quarter
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-4.18M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-2.81M	USD	1 Quarter
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$-600.10K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$228.44K	USD	1 Quarter
Deferred revenue	`IncreaseDecreaseInDeferredRevenue`	$97.28K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-46.21K	USD	1 Quarter
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiability`	$-18.51K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.97M	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-4.31M	USD	1 Quarter
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$115.10K	USD	1 Quarter
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$257.56K	USD	1 Quarter
Certification costs capitalized	`CertificationCostsIncurredAndCapitalized`	-	USD	1 Quarter
Certification costs capitalized	`CertificationCostsIncurredAndCapitalized`	$156.30K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-271.40K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-257.56K	USD	1 Quarter
Net proceeds from the SVB bank credit line	`ProceedsFromLongTermLinesOfCredit`	$1.99M	USD	1 Quarter
Net proceeds from the SVB bank credit line	`ProceedsFromLongTermLinesOfCredit`	$7.01M	USD	1 Quarter
Repayment of the Rosenthal bank credit line	`RepaymentsOfLinesOfCredit`	-	USD	1 Quarter
Repayment of the Rosenthal bank credit line	`RepaymentsOfLinesOfCredit`	$2.44M	USD	1 Quarter
Costs associated with bank credit line	`RepaymentsOfBankDebt`	-	USD	1 Quarter
Costs associated with bank credit line	`RepaymentsOfBankDebt`	$92.91K	USD	1 Quarter
Repayment of government loan	`PaymentsForProceedsFromDepositOnLoan`	-	USD	1 Quarter
Repayment of government loan	`PaymentsForProceedsFromDepositOnLoan`	$26.51K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$99.17K	USD	1 Quarter
Proceeds from stock option exercises	`ProceedsFromStockOptionsExercised`	$379.15K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$4.85M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.06M	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-374.04K	USD	1 Quarter
Net decrease in cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-2.52M	USD	1 Quarter
Cash, cash equivalents, and restricted cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.55M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.57M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.07M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.20M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$10.55M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.57M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$13.07M	USD	Point-in-time
Cash, cash equivalents, and restricted cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.20M	USD	Point-in-time
Interest	`InterestPaidNet`	$78.33K	USD	1 Quarter
Interest	`InterestPaidNet`	$25.95K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$6.00K	USD	1 Quarter
Income taxes	`IncomeTaxesPaidNet`	$1.50K	USD	1 Quarter
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$10.05M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$397.71K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$12.57M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$800.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$500.00K	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.20M	USD	Point-in-time
Total cash, cash equivalents and restricted cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.55M	USD	Point-in-time

Stockholders Equity 14 line items

Line Item	Tag	Value	Unit	Period
Beginning balance, value	`StockholdersEquity`	$7.79M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$28.61M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$30.49M	USD	Point-in-time
Beginning balance, value	`StockholdersEquity`	$8.03M	USD	Point-in-time
Net loss	`NetIncomeLoss`	$-545.52K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.54M	USD	1 Quarter
Stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$379.15K	USD	1 Quarter
Stock option exercises	`StockIssuedDuringPeriodValueStockOptionsExercised`	$99.17K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$404.72K	USD	1 Quarter
Stock-based compensation	`AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue`	$562.88K	USD	1 Quarter
Ending balance, value	`StockholdersEquity`	$7.79M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$28.61M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$30.49M	USD	Point-in-time
Ending balance, value	`StockholdersEquity`	$8.03M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.