10-K Filing

FIEE, INC. CIK: 1467761 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001654954-21-004133`
Period End Date	20201231
Filing Date	20210413
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	zmtp-20201231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 36 Cash Flow Statement 76 Stockholders Equity 18

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.01	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$771.76K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.22M	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	40.00M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	35.07M	shares	Point-in-time
Restricted cash	`RestrictedCash`	$150.00K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	20.93M	shares	Point-in-time
Restricted cash	`RestrictedCash`	$800.00K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	35.07M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$4.07M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$9.20M	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	20.93M	shares	Point-in-time
Inventories	`InventoryNet`	$16.50M	USD	Point-in-time
Inventories	`InventoryNet`	$7.44M	USD	Point-in-time
Deposits on inventory purchases	`DepositsAssetsCurrent`	$1.83K	USD	Point-in-time
Deposits on inventory purchases	`DepositsAssetsCurrent`	-	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$267.91K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$399.12K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$13.15M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$27.68M	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$303.10K	USD	Point-in-time
Equipment, net	`PropertyPlantAndEquipmentNet`	$455.07K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$86.95K	USD	Point-in-time
Operating lease right-of-use assets, net	`OperatingLeaseRightOfUseAsset`	$102.72K	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$58.87K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$388.63K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$942.40K	USD	Point-in-time
Other assets	`OtherAssetsNoncurrent`	$349.33K	USD	Point-in-time
Total assets	`Assets`	$29.61M	USD	Point-in-time
Total assets	`Assets`	$13.90M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$5.02M	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$11.74M	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	-	USD	Point-in-time
Current maturities of long-term debt	`LongTermDebtCurrent`	$2.51M	USD	Point-in-time
Current maturities of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$102.72K	USD	Point-in-time
Current maturities of operating lease liabilities	`OperatingLeaseLiabilityCurrent`	$65.65K	USD	Point-in-time
Accrued other expenses	`AccruedLiabilitiesCurrent`	$2.67M	USD	Point-in-time
Accrued other expenses	`AccruedLiabilitiesCurrent`	$7.47M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$21.78M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$7.79M	USD	Point-in-time
Long term debt, less current maturities	`LongTermDebtNoncurrent`	-	USD	Point-in-time
Long term debt, less current maturities	`LongTermDebtNoncurrent`	$15.24K	USD	Point-in-time
Operating lease liabilities, less current maturities	`OperatingLeaseLiabilityNoncurrent`	$22.23K	USD	Point-in-time
Operating lease liabilities, less current maturities	`OperatingLeaseLiabilityNoncurrent`	-	USD	Point-in-time
Total liabilities	`Liabilities`	$7.79M	USD	Point-in-time
Total liabilities	`Liabilities`	$21.82M	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and contingencies (Note 6)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock: Authorized: 40,000,000 shares at $0.01 par value; Issued and outstanding: 35,074,922 shares and 20,929,928 shares at December 31, 2020 and 2019, respectively	`CommonStockValue`	$209.30K	USD	Point-in-time
Common stock: Authorized: 40,000,000 shares at $0.01 par value; Issued and outstanding: 35,074,922 shares and 20,929,928 shares at December 31, 2020 and 2019, respectively	`CommonStockValue`	$350.75K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$64.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapitalCommonStock`	$46.50M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-40.60M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-57.09M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$6.11M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$3.88M	USD	Point-in-time
Total stockholders' equity	`StockholdersEquity`	$7.79M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$29.61M	USD	Point-in-time
Total liabilities and stockholders' equity	`LiabilitiesAndStockholdersEquity`	$13.90M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Net sales	`Revenues`	$47.99M	USD	Annual
Net sales	`Revenues`	$37.61M	USD	Annual
Cost of goods sold	`CostOfRevenue`	$26.71M	USD	Annual
Cost of goods sold	`CostOfRevenue`	$34.38M	USD	Annual
Gross profit	`GrossProfit`	$13.61M	USD	Annual
Gross profit	`GrossProfit`	$10.91M	USD	Annual
Selling and marketing	`SellingExpense`	$9.15M	USD	Annual
Selling and marketing	`SellingExpense`	$9.22M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$5.44M	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$2.67M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$2.24M	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$3.83M	USD	Annual
Total	`OperatingExpenses`	$14.13M	USD	Annual
Total	`OperatingExpenses`	$18.43M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-4.82M	USD	Annual
Operating loss	`OperatingIncomeLoss`	$-3.22M	USD	Annual
Interest income	`InvestmentIncomeInterest`	$1.08K	USD	Annual
Interest income	`InvestmentIncomeInterest`	$13.97K	USD	Annual
Interest expense	`InterestExpense`	$48.40K	USD	Annual
Interest expense	`InterestExpense`	$48.55K	USD	Annual
Other income (expense)	`OtherNonoperatingIncomeExpense`	$4.72K	USD	Annual
Other income (expense)	`OtherNonoperatingIncomeExpense`	$-21.36K	USD	Annual
Gain on forgiveness of debt (Note 17)	`GainsLossesOnExtinguishmentOfDebt`	$1.06M	USD	Annual
Gain on forgiveness of debt (Note 17)	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$-29.71K	USD	Annual
Total other income (expense), net	`NonoperatingIncomeExpense`	$988.50K	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.25M	USD	Annual
Loss before income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments`	$-3.83M	USD	Annual
Income taxes	`IncomeTaxExpenseBenefit`	$26.72K	USD	Annual
Income taxes	`IncomeTaxExpenseBenefit`	$24.86K	USD	Annual
Net loss	`NetIncomeLoss`	$-3.28M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.86M	USD	Annual
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.18	USD	Annual
Basic and diluted net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.15	USD	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	18.05M	shares	Annual
Basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	25.30M	shares	Annual

Cash Flow Statement 76 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$-3.28M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-3.86M	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$505.19K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$440.86K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$235.77K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$315.46K	USD	Annual
Amortization of right-of-use assets	`OtherDepreciationAndAmortization`	$136.40K	USD	Annual
Amortization of right-of-use assets	`OtherDepreciationAndAmortization`	$292.85K	USD	Annual
Provision (recovery) for accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$-102.63K	USD	Annual
Provision (recovery) for accounts receivable allowances	`ProvisionForDoubtfulAccounts`	$264.81K	USD	Annual
Provision for inventory reserves	`InventoryWriteDown`	$18.99K	USD	Annual
Provision for inventory reserves	`InventoryWriteDown`	-	USD	Annual
Non-cash loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	$1.06M	USD	Annual
Non-cash loan forgiveness	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$4.97M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$1.57M	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$-468.34K	USD	Annual
Inventories	`IncreaseDecreaseInInventories`	$8.87M	USD	Annual
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$129.38K	USD	Annual
Prepaid expense and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-648.85K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	$142.02K	USD	Annual
Other assets	`IncreaseDecreaseInOtherOperatingAssets`	-	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$655.22K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$6.67M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$4.69M	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$462.24K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-135.47K	USD	Annual
Operating lease liabilities	`IncreaseDecreaseInOperatingLeaseLiabilities`	$-318.18K	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-1.54M	USD	Annual
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-7.09M	USD	Annual
Cash acquired from merger	`CashAcquiredFromAcquisition`	$501.85K	USD	Annual
Cash acquired from merger	`CashAcquiredFromAcquisition`	-	USD	Annual
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$302.52K	USD	Annual
Purchases of equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$174.25K	USD	Annual
Certification costs incurred and capitalized	`CertificationCostsIncurredAndCapitalized`	$-310.00K	USD	Annual
Certification costs incurred and capitalized	`CertificationCostsIncurredAndCapitalized`	$-460.58K	USD	Annual
Capitalized software costs	`CapitalizedSoftwareCosts`	-	USD	Annual
Capitalized software costs	`CapitalizedSoftwareCosts`	$-316.84K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-484.25K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-578.09K	USD	Annual
Net proceeds from (payments to) bank credit lines	`ProceedsFromLinesOfCredit`	$-1.74M	USD	Annual
Net proceeds from (payments to) bank credit lines	`ProceedsFromLinesOfCredit`	$2.44M	USD	Annual
Proceeds from debt	`ProceedsFromIssuanceOfLongTermDebt`	$583.30K	USD	Annual
Proceeds from debt	`ProceedsFromIssuanceOfLongTermDebt`	-	USD	Annual
Net proceeds from private placement offering	`ProceedsFromIssuanceOfPrivatePlacement`	$3.16M	USD	Annual
Net proceeds from private placement offering	`ProceedsFromIssuanceOfPrivatePlacement`	$4.94M	USD	Annual
Proceeds from stock option exercise	`ProceedsFromStockOptionsExercised`	$1.17M	USD	Annual
Proceeds from stock option exercise	`ProceedsFromStockOptionsExercised`	$60.65K	USD	Annual
Proceeds from profit disgorgement	`ProceedsFromProfitDisgorgement`	$196.00K	USD	Annual
Proceeds from profit disgorgement	`ProceedsFromProfitDisgorgement`	-	USD	Annual
Proceeds from non-recourse promissory notes issued by Minim option holders	`ProceedsFromNonRecoursePromissoryNotes`	$320.29K	USD	Annual
Proceeds from non-recourse promissory notes issued by Minim option holders	`ProceedsFromNonRecoursePromissoryNotes`	-	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.88M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$3.26M	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$204.86K	USD	Annual
Net change in cash and cash equivalents	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.24M	USD	Annual
Cash, cash equivalents, and restricted cash - Beginning	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.37M	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`	$125.98K	USD	Point-in-time
Cash, cash equivalents, and restricted cash - Ending	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations`	$1.37M	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`	$125.98K	USD	Point-in-time
Interest	`InterestPaidNet`	$48.47K	USD	Annual
Interest	`InterestPaidNet`	$48.40K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$31.77K	USD	Annual
Income taxes	`IncomeTaxesPaid`	$26.72K	USD	Annual
Net share settlement from non-recourse promissory notes issued by Minim option holders	`NetShareSettlementFromNonrecoursePromissoryNotesIssuedByMinimOptionHoldersNote3`	-	USD	Annual
Net share settlement from non-recourse promissory notes issued by Minim option holders	`NetShareSettlementFromNonrecoursePromissoryNotesIssuedByMinimOptionHoldersNote3`	$230.33K	USD	Annual
Repurchase of Minim common stock	`RepurchaseOfMinimCommonStockNote3`	$-14.86K	USD	Annual
Repurchase of Minim common stock	`RepurchaseOfMinimCommonStockNote3`	-	USD	Annual
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$771.76K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.22M	USD	Point-in-time
Restricted cash	`RestrictedCash`	$150.00K	USD	Point-in-time
Restricted cash	`RestrictedCash`	$800.00K	USD	Point-in-time
Total Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.57M	USD	Point-in-time
Total Cash and cash equivalents	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.37M	USD	Point-in-time

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Beginning Balance, Amount	`StockholdersEquity`	$6.11M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$3.88M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$7.79M	USD	Point-in-time
Net income (loss)	`NetIncomeLoss`	$-3.28M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-3.86M	USD	Annual
Private investment offering, net of expenses amount	`StockIssuedDuringPeriodValueNewIssues`	$3.16M	USD	Annual
Private investment offering, net of expenses amount	`StockIssuedDuringPeriodValueNewIssues`	$4.94M	USD	Annual
Shares issued in Minimum Merger, amount	`StockIssuedDuringPeriodValueAcquisitions`	$262.62K	USD	Annual
Repayment of non-recourse promissory notes from Minim option holders	`AdjustmentsToAdditionalPaidInCapitalOther`	$320.29K	USD	Annual
Repurchase of Minim common stock	`StockRepurchasedDuringPeriodValue`	$-14.86K	USD	Annual
Stock option exercises, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$1.17M	USD	Annual
Stock option exercises, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$60.65K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$505.19K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$440.86K	USD	Annual
Profit disgorgement	`ProfitDisgorgement`	$196.00K	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$6.11M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$3.88M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$7.79M	USD	Point-in-time

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