0001861522
false
Q2
--12-31
0001861522
2023-01-01
2023-07-01
0001861522
2023-08-15
0001861522
2023-07-01
0001861522
2022-12-31
0001861522
us-gaap:NonrelatedPartyMember
2023-07-01
0001861522
us-gaap:NonrelatedPartyMember
2022-12-31
0001861522
us-gaap:RelatedPartyMember
2023-07-01
0001861522
us-gaap:RelatedPartyMember
2022-12-31
0001861522
2023-04-02
2023-07-01
0001861522
2022-04-03
2022-07-02
0001861522
2022-01-02
2022-07-02
0001861522
us-gaap:CommonStockMember
2022-01-01
0001861522
us-gaap:PreferredStockMember
2022-01-01
0001861522
us-gaap:AdditionalPaidInCapitalMember
2022-01-01
0001861522
us-gaap:RetainedEarningsMember
2022-01-01
0001861522
2022-01-01
0001861522
us-gaap:CommonStockMember
2022-04-02
0001861522
us-gaap:PreferredStockMember
2022-04-02
0001861522
us-gaap:AdditionalPaidInCapitalMember
2022-04-02
0001861522
us-gaap:RetainedEarningsMember
2022-04-02
0001861522
2022-04-02
0001861522
us-gaap:CommonStockMember
2022-12-31
0001861522
us-gaap:PreferredStockMember
2022-12-31
0001861522
us-gaap:AdditionalPaidInCapitalMember
2022-12-31
0001861522
us-gaap:RetainedEarningsMember
2022-12-31
0001861522
us-gaap:CommonStockMember
2023-04-01
0001861522
us-gaap:PreferredStockMember
2023-04-01
0001861522
us-gaap:AdditionalPaidInCapitalMember
2023-04-01
0001861522
us-gaap:RetainedEarningsMember
2023-04-01
0001861522
2023-04-01
0001861522
us-gaap:CommonStockMember
2022-01-02
2022-04-02
0001861522
us-gaap:PreferredStockMember
2022-01-02
2022-04-02
0001861522
us-gaap:AdditionalPaidInCapitalMember
2022-01-02
2022-04-02
0001861522
us-gaap:RetainedEarningsMember
2022-01-02
2022-04-02
0001861522
2022-01-02
2022-04-02
0001861522
us-gaap:CommonStockMember
2022-04-03
2022-07-02
0001861522
us-gaap:PreferredStockMember
2022-04-03
2022-07-02
0001861522
us-gaap:AdditionalPaidInCapitalMember
2022-04-03
2022-07-02
0001861522
us-gaap:RetainedEarningsMember
2022-04-03
2022-07-02
0001861522
us-gaap:CommonStockMember
2023-01-01
2023-04-01
0001861522
us-gaap:PreferredStockMember
2023-01-01
2023-04-01
0001861522
us-gaap:AdditionalPaidInCapitalMember
2023-01-01
2023-04-01
0001861522
us-gaap:RetainedEarningsMember
2023-01-01
2023-04-01
0001861522
2023-01-01
2023-04-01
0001861522
us-gaap:CommonStockMember
2023-04-02
2023-07-01
0001861522
us-gaap:PreferredStockMember
2023-04-02
2023-07-01
0001861522
us-gaap:AdditionalPaidInCapitalMember
2023-04-02
2023-07-01
0001861522
us-gaap:RetainedEarningsMember
2023-04-02
2023-07-01
0001861522
us-gaap:CommonStockMember
2022-07-02
0001861522
us-gaap:PreferredStockMember
2022-07-02
0001861522
us-gaap:AdditionalPaidInCapitalMember
2022-07-02
0001861522
us-gaap:RetainedEarningsMember
2022-07-02
0001861522
2022-07-02
0001861522
us-gaap:CommonStockMember
2023-07-01
0001861522
us-gaap:PreferredStockMember
2023-07-01
0001861522
us-gaap:AdditionalPaidInCapitalMember
2023-07-01
0001861522
us-gaap:RetainedEarningsMember
2023-07-01
0001861522
us-gaap:GeneralAndAdministrativeExpenseMember
2023-04-02
2023-07-01
0001861522
us-gaap:GeneralAndAdministrativeExpenseMember
2022-04-03
2022-07-02
0001861522
us-gaap:GeneralAndAdministrativeExpenseMember
2023-01-01
2023-07-01
0001861522
us-gaap:GeneralAndAdministrativeExpenseMember
2022-01-02
2022-07-02
0001861522
2023-03-22
0001861522
srt:ScenarioForecastMember
2023-09-18
0001861522
us-gaap:ComputerEquipmentMember
2023-07-01
0001861522
us-gaap:ComputerEquipmentMember
2022-12-31
0001861522
us-gaap:FurnitureAndFixturesMember
2023-07-01
0001861522
us-gaap:FurnitureAndFixturesMember
2022-12-31
0001861522
us-gaap:LeaseholdImprovementsMember
2023-07-01
0001861522
us-gaap:LeaseholdImprovementsMember
2022-12-31
0001861522
us-gaap:MachineryAndEquipmentMember
2023-07-01
0001861522
us-gaap:MachineryAndEquipmentMember
2022-12-31
0001861522
pik:SubLeaseAgreementMember
srt:WarehouseMember
2021-04-01
0001861522
pik:SubLeaseAgreementMember
srt:WarehouseMember
2021-04-01
2021-04-01
0001861522
pik:SubLeaseAgreementMember
srt:WarehouseMember
pik:DecemberThirtyTwoThousandTwentyThreeMember
2023-07-01
0001861522
2021-01-01
0001861522
pik:SubLeaseAgreementMember
pik:DecemberThirtyTwoThousandTwentyThreeMember
2023-07-01
0001861522
pik:TwoUnsecuredConvertiblePromissoryNotesMember
pik:ShareholderMember
2021-08-13
0001861522
pik:TwoUnsecuredConvertiblePromissoryNotesMember
pik:ShareholderMember
2021-08-12
2021-08-13
0001861522
pik:ShareholderMember
2021-09-30
0001861522
pik:ShareholderMember
2021-10-31
0001861522
pik:ShareholderMember
2021-11-30
0001861522
pik:ShareholderMember
2021-09-01
2021-11-30
0001861522
2021-12-27
2021-12-27
0001861522
2022-07-02
2022-07-02
0001861522
us-gaap:EmployeeStockOptionMember
2023-04-02
2023-07-01
0001861522
us-gaap:RestrictedStockUnitsRSUMember
2023-04-02
2023-07-01
0001861522
2021-05-10
0001861522
2021-05-09
2021-05-10
0001861522
pik:OneMinorityStockholderMember
2021-05-12
0001861522
pik:OneMinorityStockholderMember
2021-05-09
2021-05-12
0001861522
pik:TwoThousandTwentyOneEquityIncentivePlanMember
2021-09-30
0001861522
us-gaap:IPOMember
2021-11-09
2021-11-10
0001861522
us-gaap:IPOMember
srt:ExecutiveOfficerMember
us-gaap:RestrictedStockUnitsRSUMember
2021-11-09
2021-11-10
0001861522
us-gaap:IPOMember
pik:BoardOfDirectorsMember
us-gaap:RestrictedStockUnitsRSUMember
2021-11-09
2021-11-10
0001861522
us-gaap:RestrictedStockMember
2022-05-14
2022-05-15
0001861522
us-gaap:RestrictedStockMember
2023-05-14
2023-05-15
0001861522
2021-11-09
2021-11-10
0001861522
us-gaap:RestrictedStockUnitsRSUMember
2021-11-09
2021-11-10
0001861522
pik:InventoryPurchasesMember
us-gaap:SupplierConcentrationRiskMember
pik:OneVendorMember
2023-04-02
2023-07-01
0001861522
pik:InventoryPurchasesMember
us-gaap:SupplierConcentrationRiskMember
pik:ThreeVendorsMember
2022-04-03
2022-07-02
0001861522
pik:InventoryPurchasesMember
us-gaap:SupplierConcentrationRiskMember
pik:OneVendorMember
2023-01-01
2023-07-01
0001861522
pik:InventoryPurchasesMember
us-gaap:SupplierConcentrationRiskMember
pik:TwoVendorsMember
2022-01-02
2022-07-02
0001861522
pik:SubscriptionBoxesMember
2023-04-02
2023-07-01
0001861522
pik:SubscriptionBoxesMember
2022-04-03
2022-07-02
0001861522
pik:SubscriptionBoxesMember
2023-01-01
2023-07-01
0001861522
pik:SubscriptionBoxesMember
2022-01-02
2022-07-02
0001861522
pik:ThirdPartyWebsitesMember
2023-04-02
2023-07-01
0001861522
pik:ThirdPartyWebsitesMember
2022-04-03
2022-07-02
0001861522
pik:ThirdPartyWebsitesMember
2023-01-01
2023-07-01
0001861522
pik:ThirdPartyWebsitesMember
2022-01-02
2022-07-02
0001861522
pik:OnlineWebsiteSalesMember
2023-04-02
2023-07-01
0001861522
pik:OnlineWebsiteSalesMember
2022-04-03
2022-07-02
0001861522
pik:OnlineWebsiteSalesMember
2023-01-01
2023-07-01
0001861522
pik:OnlineWebsiteSalesMember
2022-01-02
2022-07-02
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
xbrli:pure
pik:Segment
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
10-Q
(Mark
One)
☒ |
QUARTERLY
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For
the quarterly period ended July 1, 2023
OR
☐ |
TRANSITION
REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
For
the transition period from to
Commission
File Number: 001-41032
Kidpik
Corp.
(Exact
name of Registrant as specified in its charter)
Delaware |
|
81-3640708 |
(State
or other jurisdiction of
incorporation
or organization) |
|
(I.R.S.
Employer
Identification
No.) |
|
|
|
200
Park Avenue South, 3rd Floor
New
York, New York |
|
10003 |
(Address
of principal executive offices) |
|
(Zip
Code) |
(212)
399-2323
(Registrant’s
Telephone Number, Including Area Code)
Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class |
|
Trading
Symbol(s) |
|
Name
of each exchange on which registered |
Common
Stock, par value $0.001 per share |
|
PIK |
|
The
Nasdaq Stock Market LLC |
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 (the “Exchange Act”) during the preceding 12 months (or for such shorter period that the registrant was required
to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐
Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such files). Yes ☒ No ☐
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting
company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”
“smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large
accelerated Filer ☐ |
|
Accelerated
Filer ☐ |
Non-accelerated
Filer ☒ |
|
Smaller
reporting company ☒ |
|
|
Emerging
growth company ☒ |
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.
Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒
Number
of shares of registrant’s common stock outstanding as of August 15,
2023: 7,808,366.
TABLE
OF CONTENTS
Cautionary
Statement Regarding Forward-Looking Information
This
Quarterly Report on Form 10-Q (this “Report”) contains forward-looking statements within the meaning of the federal securities
laws, including the Private Securities Litigation Reform Act of 1995, regarding future events and the future results of Kidpik Corp.
(the “Company”) that are based on current expectations, estimates, forecasts, and projections about the industry in which
the Company operates and the beliefs and assumptions of the management of the Company. In some cases, you can identify forward-looking
statements by the following words: “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “ongoing,” “plan,” “potential,” “predict,”
“project,” “should,” or the negative of these terms or other comparable terminology, although not all forward-looking
statements contain these words. Forward-looking statements are not a guarantee of future performance or results, and will not necessarily
be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based
on information available at the time the statements are made and involve known and unknown risks, uncertainties and other factors that
may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied
by the forward-looking statements in this Report. Factors that might cause or contribute to such differences include, but are not limited
to, those discussed elsewhere in this Report, including under, or incorporated by reference into, “Risk Factors”, which factors
include:
|
● |
our
ability to obtain additional funding, the terms of such funding and potential dilution caused thereby; |
|
|
|
|
● |
the
continuing effect of rising interest rates and inflation on our operations, sales, and market for our products; |
|
|
|
|
● |
deterioration
of the global economic environment; |
|
|
|
|
● |
our
ability to build and maintain our brand; |
|
|
|
|
● |
cybersecurity,
information systems and fraud risks and problems with our websites; |
|
|
|
|
● |
our
ability to expand and grow our operations, and successfully market our products and services; |
|
|
|
|
● |
changes
in, and our compliance with, rules and regulations affecting our operations, sales, the internet in general and/or our products; |
|
|
|
|
● |
shipping,
production or manufacturing delays and/or tariffs on our products; |
|
|
|
|
● |
our
ability to increase members and sales; |
|
|
|
|
● |
regulations
we are required to comply with in connection with our operations, manufacturing, labeling and shipping; |
|
|
|
|
● |
competition
from existing competitors or new competitors or products that may emerge; |
|
|
|
|
● |
rising
interest rates and inflation and our ability to control our costs, including employee wages and benefits and other operating expenses; |
|
|
|
|
● |
our
dependency on third-party manufacturers to supply or manufacture our products; |
|
|
|
|
● |
our
business, including our costs and supply chain, which is subject to risks associated with rising inflation; |
|
|
|
|
● |
our
ability to establish or maintain vendor and supplier relations and/or relationships with third-parties; |
|
|
|
|
● |
our
ability and third parties’ abilities to protect intellectual property rights; |
|
|
|
|
● |
our
ability to attract and retain key personnel to manage our business effectively; and |
|
|
|
|
● |
other
risk factors included under “Risk Factors” below. |
You
should read the matters described in, and incorporated by reference in, “Risk Factors” and the other cautionary statements
made in this Report, and incorporated by reference herein, as being applicable to all related forward-looking statements wherever they
appear in this Report. We cannot assure you that the forward-looking statements in this Report will prove to be accurate and therefore
prospective investors are encouraged not to place undue reliance on forward-looking statements. All forward-looking statements included
herein speak only of the date of the filing of this Report. All subsequent written and oral forward-looking statements attributable to
the Company, or persons acting on its behalf, are expressly qualified in their entirety by the cautionary statements above. Other than
as required by law, we undertake no obligation to update or revise these forward-looking statements, even though our situation may change
in the future.
Summary
Risk Factors
Our
business is subject to varying degrees of risk and uncertainty. Investors should consider the risks and uncertainties summarized below,
as well as the risks and uncertainties discussed in Part II, Item 1A, “Risk Factors” of this Quarterly Report on Form
10-Q and Part I, Item 1A, “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2022, which
was filed with the Securities and Exchange Commission on March 31, 2023 (the “2022 Annual Report”). Investors should
also refer to the other information contained or incorporated by reference in this Quarterly Report on Form 10-Q, including our financial
statements and related notes, and our other filings made from time to time with the Securities and Exchange Commission. Our business
operations could also be affected by factors that we currently consider to be immaterial or that are unknown to us at the present time.
If any of these risks occur, our business, financial condition, and results of operations could be materially and adversely affected,
and the trading price of our common stock could decline or our common stock could become worthless:
|
● |
Our
history of losses, our ability to achieve profitability, our need for additional funding and the availability and terms of such funding,
as well as potential dilution caused thereby; |
|
|
|
|
● |
Our
ability to execute our growth strategy and scale our operations and risks associated with such growth, our ability to maintain current
members and customers and grow our members and customers; |
|
|
|
|
● |
Risks
associated with our supply chain and third-party service providers, interruptions in the supply of raw materials and merchandise,
increased costs of raw materials, products and shipping costs due to inflation, disruptions at our warehouse facility and/or of our
data or information services, issues affecting our shipping providers, and disruptions to the internet, any of which may have a material
adverse effect on our operations; |
|
|
|
|
● |
Risks
of changes in consumer spending due to changes in interest rates, increased inflation, declines in economic activity or recessions; |
|
|
|
|
● |
Risks
that effect our ability to successfully market our products to key demographics; |
|
|
|
|
● |
The
effect of data security breaches, malicious code and/or hackers; |
|
|
|
|
● |
Increased
competition and our ability to maintain and strengthen our brand name; |
|
|
|
|
● |
Changes
in consumer tastes and preferences and changing fashion trends; |
|
|
|
|
● |
Material
changes and/or terminations of our relationships with key vendors; |
|
|
|
|
● |
Significant
product returns from customers, excess inventory and our ability to manage our inventory; |
|
|
|
|
● |
The
effect of trade restrictions and tariffs, increased costs associated therewith and/or decreased availability of products; |
|
|
|
|
● |
Our
ability to innovate, expand our offerings and compete against competitors which may have greater resources; |
|
● |
Certain
anti-dilutive, drag-along and tag-along rights which may be deemed to be held by a former minority stockholder; |
|
|
|
|
● |
Our
significant reliance on related party transactions and loans; |
|
|
|
|
● |
The
fact that our Chief Executive Officer, Ezra Dabah, has majority voting control over the Company; |
|
|
|
|
● |
If
the use of “cookie” tracking technologies is further restricted, regulated, or blocked, or if changes in technology cause
cookies to become less reliable or acceptable as a means of tracking consumer behavior, the amount or accuracy of internet user information
would decrease, which could harm our business and operating results; |
|
|
|
|
● |
Our
ability to comply with future loan covenants; |
|
|
|
|
● |
Our
ability to prevent credit card and payment fraud; |
|
|
|
|
● |
The
risk of unauthorized access to confidential information; |
|
● |
System
interruptions that impair client access to our website or other performance failures in our technology infrastructure could damage
our business; |
|
|
|
|
● |
Our
ability to protect our intellectual property and trade secrets, claims from third-parties that we have violated their intellectual
property or trade secrets and potential lawsuits in connection therewith; |
|
|
|
|
● |
Our
ability to comply with changing regulations and laws, penalties associated with any non-compliance (inadvertent or otherwise), the
effect of new laws or regulations, our ability to comply with such new laws or regulations, and changes in tax rates; |
|
|
|
|
● |
Our
reliance on our current management, who are not party to any employment agreements with us; |
|
|
|
|
● |
The
outcome of future lawsuits, litigation, regulatory matters or claims; |
|
|
|
|
● |
Certain
terms and provisions of our governing documents which may prevent a change of control, and which provide for indemnification of officers
and directors, limit the liability of officers or directors, and provide for the board of director’s ability to issue blank
check preferred stock; |
|
|
|
|
● |
The
fact that we have a limited operating history; the effect of future acquisitions on our operations and expenses; |
|
|
|
|
● |
Our
significant indebtedness; |
|
|
|
|
● |
The
fact that we may require additional capital to support business growth, and this capital might not be available or may be available
only by diluting existing stockholders; |
|
|
|
|
● |
The
anticipated volatile nature of the trading prices of our common stock and dilution which may be caused by future sales of securities;
and |
|
|
|
|
● |
Risks
associated with our status as an “emerging growth company”. |
Additional
Information
Unless
the context otherwise requires, all references in this Quarterly Report on Form 10-Q to “we,” “us,” “our,”
“our company,” and “Kidpik” refer to Kidpik Corp. The Kidpik design logo, “kidpik,” and our other
registered or common law trademarks, service marks, or trade names appearing in this Quarterly Report on Form 10-Q are the property of
Kidpik Corp. Other trade names, trademarks, and service marks used in this Quarterly Report on Form 10-Q are the property of their respective
owners. Solely for convenience, we have omitted the ® and ™ designations, as applicable, for the trademarks we name in this
Quarterly Report on Form 10-Q.
Part
I – FINANCIAL INFORMATION
Item
1. Financial Statements
Kidpik
Corp.
Condensed
Interim Balance Sheets
| |
July 1, 2023 | | |
December 31, 2022 | |
| |
(Unaudited) | | |
(Audited) | |
Assets | |
| | | |
| | |
Current assets | |
| | | |
| | |
Cash | |
$ | 158,141 | | |
$ | 600,595 | |
Restricted cash | |
| 4,618 | | |
| 4,618 | |
Accounts receivable | |
| 156,396 | | |
| 336,468 | |
Inventory | |
| 9,755,705 | | |
| 12,625,948 | |
Prepaid expenses and other current assets | |
| 897,194 | | |
| 1,043,095 | |
Total current assets | |
| 10,972,054 | | |
| 14,610,724 | |
| |
| | | |
| | |
Leasehold improvements and equipment, net | |
| 120,965 | | |
| 67,957 | |
Operating lease right-of-use assets | |
| 1,201,105 | | |
| 1,469,665 | |
Total assets | |
$ | 12,294,124 | | |
$ | 16,148,346 | |
| |
| | | |
| | |
Liabilities and Stockholders’ Equity | |
| | | |
| | |
| |
| | | |
| | |
Current liabilities | |
| | | |
| | |
Accounts payable | |
$ | 1,702,425 | | |
$ | 2,153,389 | |
Accounts payable, related party | |
| 1,538,902 | | |
| 1,107,665 | |
Accounts payable | |
| 1,538,902 | | |
| 1,107,665 | |
Accrued expenses and other current liabilities | |
| 419,683 | | |
| 587,112 | |
Operating lease liabilities, current | |
| 329,654 | | |
| 438,957 | |
Short-term debt, related party | |
| 2,050,000 | | |
| 2,050,000 | |
Total current liabilities | |
| 6,040,664 | | |
| 6,337,123 | |
| |
| | | |
| | |
Operating lease liabilities, net of current portion | |
| 925,014 | | |
| 1,061,469 | |
| |
| | | |
| | |
Total liabilities | |
| 6,965,678 | | |
| 7,398,592 | |
| |
| | | |
| | |
Commitments and contingencies | |
| - | | |
| - | |
| |
| | | |
| | |
Stockholders’ equity | |
| | | |
| | |
Preferred stock, par value $0.001, 25,000,000 shares authorized, of which no shares are issued and outstanding as of July 1, 2023 and December 31, 2022, respectively | |
| - | | |
| - | |
Common stock, par value $0.001, 75,000,000 shares authorized, of which 7,769,717 shares are issued and outstanding as of July 1, 2023 and 7,688,194 shares issued and outstanding on December 31, 2022 | |
| 7,770 | | |
| 7,688 | |
Additional paid-in capital | |
| 50,834,858 | | |
| 50,276,511 | |
Accumulated deficit | |
| (45,514,182 | ) | |
| (41,534,445 | ) |
Total stockholders’ equity | |
| 5,328,446 | | |
| 8,749,754 | |
Total liabilities and stockholders’ equity | |
$ | 12,294,124 | | |
$ | 16,148,346 | |
The
accompanying notes are an integral part of these condensed interim financial statements.
Kidpik
Corp.
Condensed
Interim Statements of Operations
(Unaudited)
| |
July
1, 2023 | | |
July
2, 2022 | | |
July
1, 2023 | | |
July
2, 2022 | |
| |
For the 13 weeks ended | | |
For the 26 weeks ended | |
| |
July
1, 2023 | | |
July
2, 2022 | | |
July
1, 2023 | | |
July
2, 2022 | |
Revenues, net | |
$ | 3,448,919 | | |
$ | 3,774,668 | | |
$ | 7,478,397 | | |
$ | 8,100,665 | |
| |
| | | |
| | | |
| | | |
| | |
Cost of goods sold | |
| 1,372,563 | | |
| 1,473,380 | | |
| 2,991,789 | | |
| 3,207,294 | |
| |
| | | |
| | | |
| | | |
| | |
Gross profit | |
| 2,076,356 | | |
| 2,301,288 | | |
| 4,486,608 | | |
| 4,893,371 | |
| |
| | | |
| | | |
| | | |
| | |
Operating expenses | |
| | | |
| | | |
| | | |
| | |
Shipping and handling | |
| 949,734 | | |
| 959,141 | | |
| 2,138,956 | | |
| 2,091,225 | |
Payroll and related costs | |
| 1,094,135 | | |
| 1,346,744 | | |
| 2,205,236 | | |
| 2,945,980 | |
General and administrative | |
| 2,024,871 | | |
| 1,552,890 | | |
| 4,049,435 | | |
| 3,483,783 | |
Depreciation and amortization | |
| 12,426 | | |
| 6,654 | | |
| 23,113 | | |
| 12,319 | |
Total operating expenses | |
| 4,081,166 | | |
| 3,865,429 | | |
| 8,416,740 | | |
| 8,533,307 | |
Operating loss | |
| (2,004,810 | ) | |
| (1,564,141 | ) | |
| (3,930,132 | ) | |
| (3,639,936 | ) |
Other expenses (income) | |
| | | |
| | | |
| | | |
| | |
Interest expense | |
| 24,415 | | |
| 7,925 | | |
| 49,605 | | |
| 29,600 | |
Total other expense (income) | |
| - | | |
| - | | |
| - | | |
| (286,795 | ) |
Total
non-operating expenses | |
| 24,415 | | |
| 7,925 | | |
| 49,605 | | |
| (257,195 | ) |
| |
| | | |
| | | |
| | | |
| | |
Net loss | |
$ | (2,029,225 | ) | |
$ | (1,572,066 | ) | |
$ | (3,979,737 | ) | |
$ | (3,382,741 | ) |
| |
| | | |
| | | |
| | | |
| | |
Net loss per share attributable to common stockholders: | |
| | | |
| | | |
| | | |
| | |
Basic | |
| (0.26 | ) | |
| (0.21 | ) | |
| (0.52 | ) | |
| (0.44 | ) |
Diluted | |
| (0.26 | ) | |
| (0.21 | ) | |
| (0.52 | ) | |
| (0.44 | ) |
| |
| | | |
| | | |
| | | |
| | |
Weighted average common shares outstanding: | |
| | | |
| | | |
| | | |
| | |
Basic | |
| 7,731,195 | | |
| 7,636,493 | | |
| 7,709,695 | | |
| 7,655,359 | |
Diluted | |
| 7,731,195 | | |
| 7,636,493 | | |
| 7,709,695 | | |
| 7,655,359 | |
The
accompanying notes are an integral part of these condensed interim financial statements.
Kidpik
Corp.
Condensed
Interim Statements of Changes in Stockholders’ Equity
For
the 13 and 26 Weeks Ended July 1, 2023 and July 2, 2022
(Unaudited)
| |
Shares | | |
Amount | | |
Shares | | |
Amount | | |
capital | | |
deficit | | |
Total | |
| |
| | |
| | |
Additional | | |
| | |
| |
| |
Common Stock | | |
Preferred Stock | | |
paid-in | | |
Accumulated | | |
| |
| |
Shares | | |
Amount | | |
Shares | | |
Amount | | |
capital | | |
deficit | | |
Total | |
| |
| | |
| | |
| | |
| | |
| | |
| | |
| |
Balance, January 1, 2022 | |
| 7,617,834 | | |
$ | 7,618 | | |
| - | | |
$ | - | | |
$ | 48,659,225 | | |
$ | (33,919,184 | ) | |
$ | 14,747,659 | |
Balance | |
| 7,617,834 | | |
$ | 7,618 | | |
| - | | |
$ | - | | |
$ | 48,659,225 | | |
$ | (33,919,184 | ) | |
$ | 14,747,659 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Equity-based compensation | |
| - | | |
| - | | |
| - | | |
| - | | |
| 617,164 | | |
| - | | |
| 617,164 | |
Net loss | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (1,810,675 | ) | |
| (1,810,675 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, April 2, 2022 | |
| 7,617,834 | | |
$ | 7,618 | | |
| - | | |
| - | | |
$ | 49,276,389 | | |
$ | (35,729,859 | ) | |
$ | 13,554,148 | |
Balance | |
| 7,617,834 | | |
$ | 7,618 | | |
| - | | |
| - | | |
$ | 49,276,389 | | |
$ | (35,729,859 | ) | |
$ | 13,554,148 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Equity-based compensation | |
| - | | |
| - | | |
| - | | |
| - | | |
| 433,924 | | |
| - | | |
| 433,924 | |
Issuance of common stock | |
| 70,360 | | |
| 70 | | |
| - | | |
| - | | |
| (70 | ) | |
| - | | |
| - | |
Cash used to settle net share equity awards | |
| - | | |
| - | | |
| - | | |
| - | | |
| (33,692 | ) | |
| - | | |
| (33,692 | ) |
Net loss | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (1,572,066 | ) | |
| (1,572,066 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, July 2, 2022 | |
| 7,688,194 | | |
| 7,688 | | |
| - | | |
$ | - | | |
$ | 49,676,551 | | |
$ | (37,301,925 | ) | |
$ | 12,382,314 | |
Balance | |
| 7,688,194 | | |
$ | 7,688 | | |
| - | | |
$ | - | | |
$ | 49,676,551 | | |
$ | (37,301,925 | ) | |
$ | 12,382,314 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, December 31, 2022 | |
| 7,688,194 | | |
$ | 7,688 | | |
| - | | |
$ | - | | |
$ | 50,276,511 | | |
$ | (41,534,445 | ) | |
$ | 8,749,754 | |
Balance | |
| 7,688,194 | | |
$ | 7,688 | | |
| - | | |
$ | - | | |
$ | 50,276,511 | | |
$ | (41,534,445 | ) | |
$ | 8,749,754 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Equity-based compensation | |
| - | | |
| - | | |
| - | | |
| - | | |
| 267,476 | | |
| - | | |
| 267,476 | |
Net loss | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (1,950,512 | ) | |
| (1,950,512 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, April 1, 2023 | |
| 7,688,194 | | |
$ | 7,688 | | |
| - | | |
| - | | |
$ | 50,543,987 | | |
$ | (43,484,957 | ) | |
$ | 7,066,718 | |
Balance | |
| 7,688,194 | | |
$ | 7,688 | | |
| - | | |
| - | | |
$ | 50,543,987 | | |
$ | (43,484,957 | ) | |
$ | 7,066,718 | |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Issuance of common stock | |
| 81,523 | | |
| 82 | | |
| - | | |
| - | | |
| (82 | ) | |
| - | | |
| - | |
Equity-based compensation | |
| - | | |
| - | | |
| - | | |
| - | | |
| 290,953 | | |
| - | | |
| 290,953 | |
Net loss | |
| - | | |
| - | | |
| - | | |
| - | | |
| - | | |
| (2,029,225 | ) | |
| (2,029,225 | ) |
| |
| | | |
| | | |
| | | |
| | | |
| | | |
| | | |
| | |
Balance, July 1, 2023 | |
| 7,769,717 | | |
$ | 7,770 | | |
| - | | |
$ | - | | |
$ | 50,834,858 | | |
$ | (45,514,182 | ) | |
$ | 5,328,446 | |
Balance | |
| 7,769,717 | | |
$ | 7,770 | | |
| - | | |
$ | - | | |
$ | 50,834,858 | | |
$ | (45,514,182 | ) | |
$ | 5,328,446 | |
The
accompanying notes are an integral part of these condensed interim financial statements.
Kidpik
Corp.
Condensed
Interim Statements of Cash Flows
(Unaudited)
| |
July 1, 2023 | | |
July 2, 2022 | |
| |
26 Weeks Ended | |
| |
July 1, 2023 | | |
July 2, 2022 | |
Cash flows from operating activities | |
| | | |
| | |
| |
| | | |
| | |
Net loss | |
$ | (3,979,737 | ) | |
$ | (3,382,741 | ) |
Adjustments to reconcile net loss to net cash used in operating activities: | |
| | | |
| | |
Depreciation and amortization | |
| 23,113 | | |
| 12,319 | |
Equity-based compensation | |
| 558,429 | | |
| 1,051,088 | |
Bad debt expense | |
| 151,362 | | |
| 241,057 | |
Changes in operating assets and liabilities: | |
| | | |
| | |
Accounts receivable | |
| 28,710 | | |
| (69,959 | ) |
Inventory | |
| 2,870,243 | | |
| (1,180,833 | ) |
Prepaid expenses and other current assets | |
| 145,901 | | |
| 57,175 | |
Operating lease right-of-use assets and liabilities | |
| 22,802 | | |
| 5,033 | |
Accounts payable | |
| (450,965 | ) | |
| (1,061,068 | ) |
Accounts payable, related parties | |
| 431,238 | | |
| (129,753 | ) |
Accrued expenses and other current liabilities | |
| (167,429 | ) | |
| (345,378 | ) |
| |
| | | |
| | |
Net cash used in operating activities | |
| (366,333 | ) | |
| (4,803,060 | ) |
| |
| | | |
| | |
Cash flows from investing activities | |
| | | |
| | |
Purchases of leasehold improvements and equipment | |
| (76,121 | ) | |
| (31,317 | ) |
Net cash used in investing activities | |
| (76,121 | ) | |
| (31,317 | ) |
Cash flows from financing activities | |
| | | |
| | |
Cash used to settle net share equity awards | |
| - | | |
| (33,692 | ) |
Net proceeds from line of credit | |
| - | | |
| - | |
Net (repayments) from advance payable | |
| - | | |
| (932,155 | ) |
Net (repayments) from loan payable | |
| - | | |
| (150,000 | ) |
Net cash used in financing activities | |
| - | | |
| (1,115,847 | ) |
Net decrease in cash and restricted cash | |
| (442,454 | ) | |
| (5,950,224 | ) |
| |
| | | |
| | |
Cash and restricted cash, beginning of period | |
| 605,213 | | |
| 8,420,500 | |
Cash and restricted cash, end of period | |
$ | 162,759 | | |
$ | 2,470,276 | |
| |
| | | |
| | |
Reconciliation of cash and restricted cash: | |
| | | |
| | |
Cash | |
$ | 158,141 | | |
$ | 2,465,831 | |
Restricted cash | |
| 4,618 | | |
| 4,445 | |
Cash
and restricted cash, end of period | |
$ | 162,759 | | |
$ | 2,470,276 | |
Supplemental disclosure of cash flow data: | |
| | | |
| | |
Interest paid | |
$ | - | | |
$ | 20,577 | |
Supplemental disclosure of non-cash flow data: | |
| | | |
| | |
Record right-of use asset and operating lease liabilities | |
$ | - | | |
| 1,857,925 | |
The
accompanying notes are an integral part to these condensed interim financial statements.
Kidpik
Corp.
Notes
to the Condensed Interim Financial Statements
(Unaudited)
NOTE
1: NATURE OF BUSINESS
Kidpik
Corp. (the “Company”, “kidpik”, “we”, “our” or “us”) was incorporated on
April 16, 2015 under the laws of Delaware. The Company is a subscription-based e-commerce business geared toward kid products for girls’
and boys’ apparel, footwear, and accessories. The Company serves its customers through the clothing subscription box business,
its retail website, www.kidpik.com, and 3rd party websites. The Company commenced operations in March 2016 and its
executive office is located in New York.
NOTE
2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis
of accounting: The accompanying condensed interim financial statements have been prepared in accordance with generally accepted accounting
principles in the United States (“U.S. GAAP”), and the rules and regulations of the SEC that apply to interim financial statements
and with the instructions to Form 10-Q and of Regulation S-X. Accordingly, they do not include all of the information and footnotes normally
included in financial statements prepared in conformity with U.S. GAAP. They should be read in conjunction with the financial statements
and notes thereto included in the Company’s 2022 Annual Report on Form 10-K, filed with the SEC on March 31, 2023 (the “Form
10-K”).
The
accompanying condensed interim financial statements are unaudited and include all adjustments (consisting of normal recurring adjustments)
that management considers necessary for a fair presentation of its condensed interim financial position and results of operations for
the interim periods presented.
The
results of operations for the interim periods are not necessarily indicative of the results that may be expected for the entire year.
Fiscal
year: The Company uses a 52-53-week fiscal year ending on the Saturday nearest to December 31 each year. The quarters ended July
1, 2023 and July 2, 2022 consist of 13 weeks. These quarters are referred to herein as the second quarter of “2023” and “2022”,
respectively.
Use
of estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions
that affect the reporting values of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed
interim financial statements, and the reported amounts of revenue and expenses during the reporting period. The more significant estimates
and assumptions are those used in determining the recoverability of long-lived assets and inventory obsolescence. Accordingly, actual
results could differ from those estimates.
Emerging
growth company: The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified
by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from
various reporting requirements that are applicable to other public companies that are not emerging growth companies. Section 102(b)(1)
of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until
private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class
of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply
with the new or revised financial accounting standards.
In
June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards
Update (“ASU”) 2016-13, Financial Instruments—Credit Losses, which replaces the incurred loss
impairment methodology for financial instruments in current U.S. GAAP with a methodology that reflects expected credit losses and requires
consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The FASB has issued ASU 2019-10,
which has resulted in the postponement of the effective date of the new guidance for eligible smaller reporting companies to the fiscal
year beginning January 1, 2023. The guidance must be adopted using a modified retrospective approach and a prospective transition approach
is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date. The adoption
of this guidance did not have a material impact on the Company’s financial position, results of operations and related disclosures.
Concentration
of credit risk: Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash, restricted
cash and accounts receivable. We maintain our cash and restricted cash with high-quality financial institutions with investment-grade
ratings. Although the Company’s cash balance held with a U.S. bank may exceed the amount of federal insurance provided on such
deposits, the Company has not experienced any losses in such accounts. The Company is exposed to credit risk in the event of a default
by the financial institution holding its cash for the amount reflected on the balance sheets. A majority of the cash balances are with
U.S. banks and are insured to the extent defined by the Federal Deposit Insurance Corporation (“FDIC”).
Net
loss per common share: The Company complies with
the accounting and disclosure requirements of FASB Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share.
Net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during
the period. Diluted earnings per share reflects the impact of stock options and restricted stock
units, if any, under the treasury stock method unless their impact is anti-dilutive.
Revenue
recognition: The Company recognizes revenue from three sources; its subscription box sales, kidpik’s online website sales,
and 3rd party website sales. Revenue is gross billings net of promotional discounts, actual customer credits and refunds, as well as
customer credits and refunds expected to be issued, and sales tax. Customers are charged for subscription merchandise which is not returned,
or which is accepted, and are charged for general merchandise (non-subscription) when they purchase such merchandise. Customers can receive
a refund on returned merchandise for which return shipping is a cost to the Company.
Revenue
for subscription box sales is recognized when control of the promised goods is transferred and accepted by the subscriber. Subscribers
have a maximum of 10 days from the date the product is delivered to return any items in the pre-paid delivery bag. Control is transferred
either when a subscriber checks out or automatically ten days after the goods are delivered, whichever occurs first. Upon checkout or
the 10-day period, the amount of the order not returned is recognized as revenue. Payment is due upon checkout or the end of the 10-day
period after the goods are delivered, whichever occurs first. Between August 24, 2021 and January 6, 2022, we
charged new subscribers an upfront styling fee before the box was shipped that was credited toward items purchased. The styling fees
were included in deferred revenue until the time of client checkout or when the option to purchase the item expires.
Revenue
from online website sales, which includes sales from our and 3rd party websites (currently Amazon and Walmart), are recognized
when control of the promised goods are transferred to the Company’s customers, in an amount that depicts the consideration the
Company expects to be entitled to in exchange for those goods. Control is transferred at the time of shipment. Upon shipment, the total
amount of the order is recognized as revenue. Payment for online website sales is due upon time of order.
The
provision for anticipated sales returns consists of both contractual return rights and discretionary authorized returns.
Estimates
of discretionary authorized returns for sales other than subscription sales, discounts and claims are based on (1) historical rates,
(2) specific identification of outstanding returns not yet received from customers and outstanding discounts and claims and (3) estimated
returns, discounts and claims expected, but not yet finalized with customers. Actual returns, discounts and claims in any future period
are inherently uncertain and thus may differ from estimates recorded. If actual or expected future returns, discounts or claims were
significantly greater or lower than reserves established, a reduction or increase to net revenue would be recorded in the period in which
such determination was made.
Shipping
and handling costs associated with outbound freight fulfillment before control over a product has transferred to a customer are accounted
for as a shipping and handling cost in the condensed interim statements of operations.
Taxes
assessed by governmental authorities that are both imposed on and concurrent with a specific revenue producing transaction and are collected
by the Company from a customer are excluded from revenue and cost of goods sold in the condensed interim statements of operations.
Restricted
cash: Restricted cash balance consists of cash advances received by the Company from the cash advance agreement. The cash advances
can only be used for purchases of products and marketing related services necessary to operate the Company, as defined by the agreement.
Inventory:
Inventory, consisting primarily of finished goods, is valued at the lower of cost or net realizable value using the weighted average
cost method. In addition, the Company capitalizes freight, duty and other supply chain costs in inventory. These costs are included in
the cost of sales as inventory is sold.
Leasehold
improvements and equipment: Leasehold improvements and equipment are recorded at cost. Depreciation for equipment is computed using
the straight-line method over the estimated useful life of the assets ranging from three to five years. Leasehold improvements are amortized
over the shorter of the term of the lease or the life of the improvement on a straight-line method. Expenditures that extend the useful
lives of the equipment are capitalized. Expenditure for the repairs and maintenance are charged to expense as incurred. The gain or loss
arising on the disposal or retirement of an asset is determined as the difference between the sales proceeds and the carrying amount
of the asset and is recognized in operations.
Impairment
of long-lived assets: The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate
that the carrying amount of an asset may not be recoverable. In performing a review for impairment, the Company compares the carrying
value of the assets with their estimated future undiscounted pre-tax cash flows. If it is determined that impairment has occurred, the
loss would be recognized during that period. The impairment loss is calculated as the difference between the assets’ carrying value
and the present value of estimated net cash flows or comparable market values, giving consideration to recent operating performance and
pricing trends. As a result of its review, the Company does not believe that any material impairment currently exists related to its
long-lived assets.
Deferred
financing costs: Deferred financing costs, net of accumulated amortization, are reported as a direct deduction from the face amount
of the line of credit to which such costs relate. Amortization of debt issuance costs is reported as a component of interest expenses
and is computed using the straight-line method over the term of the agreement, which approximates the effective interest method.
Income
taxes: The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities
are recognized with respect to the future tax consequences attributable to differences between the tax bases of assets and liabilities
and their carrying amounts for financial statement purposes. Deferred tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect
on deferred tax assets and liabilities of a change in tax rate is recognized in the period that includes the enactment date. Valuation
allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.
The
Company applies U.S. GAAP accounting for uncertainty in income taxes. If the Company considers that a tax position is more likely than
not of being sustained upon audit, based solely on the technical merits of the position, it recognizes the tax benefit. The Company measures
the tax benefit by determining the amount that is greater than 50% likely of being realized upon settlement, presuming the tax position
is examined by the appropriate taxing authority that has full knowledge of relevant information.
The
Company has no unrecognized tax benefits at July 1, 2023 and December 31, 2022. The Company’s federal, state and local income tax
returns prior to fiscal year 2019 are closed and management continually evaluates expiring statutes of limitations, audits, proposed
settlements, changes in tax law and new authoritative rulings.
The
Company recognizes interest and penalties associated with tax matters, if any, as part of operating expenses and includes accrued interest
and penalties with accrued expenses in the condensed interim balance sheets.
Advertising
costs: Direct advertising and promotion costs are expensed as incurred. Advertising and promotion expenses totaled $938,639 and $583,747
for the 13 weeks ended July 1, 2023, and July 2, 2022, respectively. Advertising and promotion expenses totaled $1,840,742 and $1,302,128
for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively. Advertising and promotion expenses are included in general and administrative
expenses in the condensed interim statements of operations.
Bad
debt expense: Bad debt expense is recognized when a receivable is no longer collectible after a customer is unable to fulfill their
obligation to pay an outstanding balance.
Equity-based
compensation: The Company measures equity-based compensation expense associated with the awards granted based on their estimated
fair values at the grant date. For awards with service condition only, equity-based compensation expense is recognized over the requisite
service period using the straight-line method. The grant-date fair value of stock options is estimated using the Black-Scholes option
pricing model. Forfeitures are recorded as they occur. See Note 11, Equity-based compensation, for additional details.
Segment
information: The Company has one operating segment and one reportable segment as its chief operating decision maker, who is its Chief
Executive Officer, reviews financial information on a consolidated basis for purposes of allocating resources and evaluating financial
performance. All long-lived assets are located in the United States.
NOTE
3: LIQUIDITY
The
Company has sustained losses from operations since inception, negative operating cash flows and has an accumulated deficit of $45,514,182
as of July 1, 2023. The Company will continue to incur substantial operating expenses in the foreseeable future as the Company continues
to invest in attracting new customers, expanding its product offerings and enhancing technology and infrastructure. These efforts may
prove more expensive than the Company anticipates, and the Company may not succeed in increasing revenue and margins sufficiently to
offset these expenses. Accordingly, the Company may not be able to achieve profitability, and the Company may incur significant losses
for the foreseeable future.
To
support the Company’s existing operations or any future expansion of business, including the ability to execute the Company’s
growth strategy, the Company must have sufficient capital to continue to make investments and fund operations. Management has plans to
pursue a growth strategy for the expansion of operations through increased marketing to attract new members and refine the marketing
strategy to strategically prioritize customer acquisition channels that management believes will be more successful at attracting new
customers and members.
The
Company’s ability to continue its operations is dependent upon obtaining new financing for its ongoing operations and on the Company’s
plans to reduce its inventory level. To manage operating cash flows in the near term, the Company plans to significantly reduce purchases
of new inventory and if available, may enter into cash advance or other financing arrangements. Future financing options available to
the Company may include equity financings, debt financings or other capital sources, including collaborations with other companies or
other strategic transactions to fund existing operations and execute management’s growth strategy. Equity financings may include
sales of common stock. Such financing may not be available on terms favorable to the Company or at all. The terms of any financing may
adversely affect the holdings or rights of the Company’s stockholders and may cause significant dilution to existing stockholders.
Although management continues to pursue these plans, there is no assurance that the Company will be successful in obtaining sufficient
funding on terms acceptable to the Company to fund continued operations, if at all, which would have a material adverse effect on its
business, financial condition and results of operations, and it could ultimately be forced to discontinue its operations and liquidate.
These matters, when considered in the aggregate, raise substantial doubt about the Company’s ability to continue as a going concern
for a reasonable period of time, which is defined as within one year after the date that the financial statements are issued. The
accompanying financial statements do not contain any adjustments to reflect the possible
future effects on the classification of assets or the amounts and classification of liabilities that might result from the outcome
of this uncertainty.
On
March 22, 2023, the Company received written notice (the “Notification Letter”) from the Listing Qualifications Department
of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid
price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule
5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that
a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of thirty (30) consecutive business
days. Based on the closing bid price of the Company’s common stock for the thirty (30) consecutive business days from February
7, 2023 to March 21, 2023, the Company no longer meets the minimum bid price requirement.
The
Notification Letter did not impact the Company’s listing of its common stock on the Nasdaq Capital Market at that time. The Notification
Letter stated that the Company had 180 calendar days or until September 18, 2023, to regain compliance with Nasdaq Listing Rule 5550(a)(2).
To regain compliance, the bid price of the Company’s common stock must have a closing bid price of at least $1.00 per share for
a minimum of 10 consecutive business days. If the Company does not regain compliance by September 18, 2023, an additional 180 days may
be granted to regain compliance, so long as the Company meets The Nasdaq Capital Market initial listing criteria (except for the bid
price requirement) and notifies Nasdaq in writing of its intention to cure the deficiency during the second compliance period by effecting
a reverse stock split, if necessary. If the Company does not qualify for the second compliance period, fails to regain compliance during
the second 180-day period, or if it appears to Nasdaq that the Company will not be able to cure the deficiency, the Company’s common
stock will be subject to delisting, at which point the Company would have an opportunity to appeal the delisting determination to a Hearings
Panel.
The
Company intends to monitor the closing bid price of its common stock and may, if appropriate, consider implementing available options
to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. The Company also received stockholder approval
at its 2023 Annual Meeting of Stockholders held on June 19, 2023, of an amendment to the Company’s Second Amended and Restated
Certificate of Incorporation, to effect a reverse stock split of the Company’s issued and outstanding shares of common stock, by
a ratio of between one-for-five to one-for-twenty, inclusive, with the exact ratio to be set at a whole number to be determined by the
Company’s Board of Directors or a duly authorized committee thereof in its discretion, at any time prior to April 24, 2024.
NOTE
4: INVENTORY
Inventory
consists of the following:
SCHEDULE
OF INVENTORIES
| |
July 1, 2023 | | |
December 31, 2022 | |
| |
(unaudited) | | |
| |
Finished goods | |
$ | 9,755,705 | | |
$ | 12,625,948 | |
Total | |
$ | 9,755,705 | | |
$ | 12,625,948 | |
NOTE
5: LEASEHOLD IMPROVEMENTS AND EQUIPMENT
Leasehold
improvements and equipment consist of the following:
SUMMARY
OF LEASEHOLD IMPROVEMENTS AND EQUIPMENT
| |
July 1, 2023 | | |
December 31, 2022 | |
| |
(unaudited) | | |
| |
Computer equipment | |
$ | 120,459 | | |
$ | 117,841 | |
Furniture and fixtures | |
| 185,290 | | |
| 174,504 | |
Leasehold improvements | |
| 137,943 | | |
| 65,523 | |
Machinery and equipment | |
| 32,666 | | |
| 42,369 | |
Total cost | |
| 476,358 | | |
| 400,237 | |
Leasehold
improvements and equipment, gross | |
| 476,358 | | |
| 400,237 | |
Accumulated depreciation | |
| (355,393 | ) | |
| (332,280 | ) |
Leasehold improvements and equipment, net | |
$ | 120,965 | | |
$ | 67,957 | |
Depreciation
expense amounted to $12,426 and $6,654 for the 13 weeks ended July 1, 2023 and July 2, 2022, respectively.
Depreciation
expense amounted to $23,113 and $12,319 for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively.
NOTE
6: LEASES
The
Company adopted the ASC 842 guidance on January 2, 2022, using the modified retrospective transition effective date method. As part of
that adoption, the Company has elected the package of three practical expedients, which includes the following: an entity may elect not
to reassess whether expired or existing contracts contain a lease under the revised definition of a lease; an entity may elect not to
reassess the lease classification for expired or existing leases; and an entity may elect not to reassess whether previously capitalized
initial direct costs would qualify for capitalization. The Company has elected not to utilize the hindsight expedient in determining
the lease term, and to not record leases with an initial term of 12 months or less on our condensed interim balance sheets. Additionally,
the Company has elected to account for lease components and non-lease components as a single lease component for all asset classes. Lease
expense is recognized over the expected term on a straight-line basis.
The
Company entered into a sub-lease agreement for warehouse space from a related party on April 1, 2021. The Company pays 33.3% of the related
party’s fixed monthly rent. The lease expires on September 30, 2023. As of July 1, 2023, the minimum lease payments amount to $63,702
for the year ending December 30, 2023.
As of July 1, 2023, the weighted average remaining lease term was 3.7 years
and weighted average incremental borrowing rate was 6.95%.
The
table below includes the balances of operating lease right-of-use assets and operating lease liabilities as of July 1, 2023:
SCHEDULE
OF OPERATING LEASE RIGHT OF USE OF ASSET AND LIABILITIES
| |
July 1, 2023 | |
Assets | |
| | |
Operating lease right-of-use assets, net | |
$ | 1,201,105 | |
| |
| | |
Liabilities | |
| | |
Operating lease liabilities – current | |
$ | 329,654 | |
Operating lease liabilities – non-current | |
| 925,014 | |
Total Lease Liabilities | |
$ | 1,254,668 | |
The
maturities of our operating lease liabilities as of July 1, 2023, are as follows:
SCHEDULE
OF MATURITIES OF LEASE LIABILITIES FOR OPERATING LEASES
Maturity of Operating Lease Liabilities | |
| |
2023 | |
$ | 233,652 | |
2024 | |
| 346,698 | |
2025 | |
| 357,099 | |
2026 | |
| 367,812 | |
2027 | |
| 123,806 | |
Total lease payments | |
| 1,429,067 | |
Less: imputed interest | |
| (174,399 | ) |
Present value of lease liabilities | |
$ | 1,254,668 | |
NOTE
7: RELATED PARTY TRANSACTIONS
In
the normal course of business, the Company made purchases from related parties for merchandise and shared services which amounted to
$9,447 and $80,398 for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively.
A
related party performs certain management services for the Company pursuant to a management services agreement. For these services, the
Company pays a monthly management fee equal to 0.75% of the Company’s net sales collections.
Management
fees amounted to $23,662 and $25,578 for the 13 weeks ended July 1, 2023 and July 2, 2022, respectively, and are included in general
and administrative expenses in the condensed interim statements of operations.
Management
fees amounted to $52,652 and $56,504 for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively, and are included in general
and administrative expenses in the condensed interim statements of operations.
In
addition, the Company is using a related party to run its Amazon Marketplace site.
The
consulting fees for this service amounted to $18,438 and $31,030 for the 13 weeks ended July 1, 2023 and July 2, 2022, respectively.
The consulting fees for this service amounted to $37,751 and $61,575 for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively,
The consulting fees for this service are included in general and administrative expenses in the condensed interim statements of operations.
The
Company entered into a new revocable monthly sub-lease agreement for office space from a related party on January 1, 2021. The Company
will pay 50% of the related party’s fixed monthly rent, including contingent rental expenses. On June 27, 2022, the parties signed
a new lease agreement with a third party.
For
the 13 and 26 weeks ended July 1, 2023 and July 2, 2022, related party office rent amounted to zero and $82,500, for both periods, respectively,
and is included in general and administrative expenses in the condensed interim statements of operations.
The
Company entered into a new sub-lease agreement for warehouse space from a related party on April 1, 2021. The Company will pay 33.3%
of the related party’s fixed monthly rent. The lease expires on September 30, 2023. The minimum lease payments amount to $191,106
for the year ending December 30, 2023.
As
of July 1, 2023 and December 31, 2022, there was $ and $ due to related party, respectively.
See
Note 8 for a description of short-term debt from affiliated entities under common control and from stockholders.
NOTE
8: SHORT-TERM DEBT
On
August 13, 2021, the Company entered into two unsecured convertible promissory notes with stockholders in the aggregate amount of $200,000.
Each of the convertible notes were payable on January 15, 2022 and were automatically convertible into shares of the Company’s
common stock at a conversion price equal to the per share price of the next equity funding completed by the Company in an amount of at
least $2,000,000 and requires the repayment of 110% of such convertible note amount upon a sale of the Company (including a change of
50% or more of the voting shares). On August 25, 2021, the parties agreed to amend the previously convertible notes to remove the conversion
rights provided for therein and clarify that no interest accrues on the convertible notes. On March 31, 2022, and effective on January
15, 2022, the parties amended the notes to be payable on demand.
In
September, October and November 2021, the Company borrowed $2,500,000 from a stockholder. The notes are unsecured, noninterest-bearing
and the principal was due on January 15, 2022, or was due at the rate of 110% of such note amount, upon a sale of the Company (including
a change of 50% or more of the voting shares). On December 27, 2021, the Company paid $500,000 of the outstanding loan amounts. On March
31, 2022, and effective on January 15, 2022, the parties amended the notes to be payable on demand. On July 2, 2022, the Company paid
$150,000 of the outstanding loan amounts.
NOTE
9: NET LOSS PER COMMON SHARE
The
computation of basic net loss per share is based on the weighted average number of common shares outstanding for the 13 weeks ended July
1, 2023 and July 2, 2022. Diluted net loss per share
gives effect to stock options and restricted stock units using the treasury stock method, unless the impact is anti-dilutive.
Diluted net loss per share for the 13 weeks ended July 1, 2023 does
not include 250,000 stock options and 176,000 restricted stock units as their effect was anti-dilutive.
SCHEDULE
OF WEIGHTED AVERAGE NUMBER OF SHARES
| |
July
1, 2023 | | |
July
2, 2022 | | |
July
1, 2023 | | |
July
2, 2022 | |
| |
For the 13 weeks ended | | |
For the 26 weeks ended | |
| |
July
1, 2023 | | |
July
2, 2022 | | |
July
1, 2023 | | |
July
2, 2022 | |
Net loss | |
$ | (2,029,225 | ) | |
$ | (1,572,066 | ) | |
$ | (3,979,737 | ) | |
$ | (3,382,741 | ) |
Weighted Average Shares – Basic | |
| 7,731,195 | | |
| 7,636,493 | | |
| 7,709,695 | | |
| 7,655,359 | |
Dilutive effect of stock options and restricted stock units | |
| - | | |
| - | | |
| - | | |
| - | |
Weighted Average Shares – Diluted | |
| 7,731,195 | | |
| 7,636,493 | | |
| 7,709,695 | | |
| 7,655,359 | |
Basic net loss per share | |
| (0.26 | ) | |
| (0.21 | ) | |
| (0.52 | ) | |
| (0.44 | ) |
Diluted net loss per share | |
| (0.26 | ) | |
| (0.21 | ) | |
| (0.52 | ) | |
| (0.44 | ) |
NOTE
10: STOCKHOLDERS’ EQUITY
On
May 10, 2021, the Company filed an amended and restated Certificate of Incorporation which authorized 75,000,000 shares of common stock
having a par value of $0.001 per share and 25,000,000 shares of preferred stock having a par value of $0.001 per share. All shares of
common stock shall be of the same class and have equal rights, powers and privileges. The preferred stock may be issued from time to
time in one or more series and each issued series may have full or limited designations, preferences, participating, special rights and
limitation as adopted by the Board of Directors. In conjunction with this amendment, the Company completed a forward split of existing
common stock whereby each one share of common stock was automatically split up and converted into 671 shares of common stock. The condensed
interim statements of changes in stockholders’ equity were restated to retroactively incorporate this stock split.
On
May 12, 2021, the Company and each then stockholder of the Company, other than one minority stockholder holding 147,620 shares or 2.7%
of the Company’s then outstanding common stock, entered into a Covenant Termination and Release Agreement, whereby each executing
stockholder, in consideration for $10, agreed to terminate any and all preemptive rights, anti-dilutive rights, tag-along, drag-along
or other special stockholder rights which they held as a result of the terms of any prior Investment Agreements or Conversion Agreements,
and release the Company from any and all liability or obligations in connection with any such special stockholder rights.
NOTE
11: EQUITY-BASED COMPENSATION
On
May 9, 2021, the Board of Directors and majority stockholders adopted an Equity Incentive Plan which provides an opportunity for any
employee, officer, director or consultant of the Company to receive incentive stock options, nonqualified stock options, restricted stock,
stock awards, shares in performance of services or any combination of the foregoing.
On
September 30, 2021, the Board of Directors and majority stockholders of the Company amended and restated its 2021 Equity Incentive Plan
(as amended and restated, the “2021 Plan”). The 2021 Plan provides for the grant of incentive stock options, or ISOs, within
the meaning of Section 422 of the Internal Revenue Code, to our employees, and for the grant of nonstatutory stock options, or NSOs,
stock appreciation rights, restricted stock awards, restricted stock unit awards (RSU awards), performance awards and other forms of
awards to our employees, directors and consultants and any of our affiliates’ employees and consultants. A total of 2,600,000 shares
of the Company’s common stock were initially reserved for issuance under the 2021 Plan.
On
November 10, 2021, prior to the pricing of the Company’s initial public offering (the “IPO”), the Company granted (a)
options to purchase an aggregate of 480,000 shares of our common stock at an exercise price of $8.50 per share, to certain employees
and consultants of the Company in consideration for services rendered and to be rendered through May 2024; (b) 254,000 restricted stock
units, to certain executive officers; and (c) 10,000 restricted stock units (“RSUs”) to a board of director member. Such
options and restricted stock units vested (i) 1/3 on May 15, 2022; and (ii) 1/3 on May 15, 2023; and continue to vest (to the extent
not forfeited) 1/3 on May 15, 2024. The options each have a term of five years. On May 15, 2022, 88,000 restricted stock units were vested
of which 70,360 common stock shares were issued and 17,640 were forfeited and cancelled to settle tax liability on the vested shares.
On May 15, 2023, 87,999 restricted stock units were vested of which 81,523 common stock shares were issued and 6,476 were forfeited and
cancelled to settle tax liability on the vested shares.
In
determining the fair value of the stock-based awards, we used the Black-Scholes option-pricing model and assumptions discussed below.
Each of these inputs is subjective and generally requires significant judgment. Expected Term - The expected term represents the
period that our stock options are expected to be outstanding and is determined using the simplified method (generally calculated as the
mid-point between the vesting date and the end of the contractual term). Expected Volatility - The expected volatility was estimated
based on the average volatility for publicly-traded companies that we considered comparable, over a period equal to the expected term
of the stock option grants. Risk-Free Interest Rate - The risk-free interest rate is based on the U.S. Treasury zero coupon notes
in effect at the time of grant for periods corresponding with the expected term of the option. Expected Dividend - We have not
paid dividends on our common stock and do not anticipate paying dividends on our common stock; therefore, we use an expected dividend
yield of zero.
The
fair value of each option we issued on November 10, 2021 was $3.16. The weighted average assumptions used included a risk-free interest
rate of 0.88%, an expected stock price volatility factor of 52.4% and a dividend rate of 0%. The fair value of each restricted stock
unit (“RSU”) we issued on November 10, 2021 was $8.50.
A
summary of the Company’s time-based stock option activity under the 2021 Plan was as follows:
SCHEDULE
OF COMPANY’S TIME BASED STOCK OPTION ACTIVITY
| |
Number of Options | | |
Weighted Average Exercise Price | |
Unvested options as of December 31, 2022 | |
| 286,000 | | |
$ | 8.50 | |
Granted | |
| - | | |
| - | |
Vested | |
| - | | |
| - | |
Forfeited/Repurchased | |
| (36,000 | ) | |
| - | |
Unvested options as of July 1, 2023 | |
| 250,000 | | |
$ | 8.50 | |
As
of July 1, 2023, there was $1.0 million of total unrecognized compensation cost related to unvested options and RSUs granted under the
2021 Plan, which is expected to be recognized over a weighted average service period of 1.1 years. The Company records the impact of
any forfeitures of options as they occur.
Amortization
of this charge, which is included in non-cash compensation expense, for the 13 weeks and 26 weeks ended July 1, 2023, was $290,953 and
$558,429, respectively, and it is included as part of payroll expense.
NOTE
12: RISK CONCENTRATION AND UNCERTAINTIES
The
Company uses various vendors for purchases of inventory. For the 13 weeks ended July 1, 2023, one vendor accounted for 100% of inventory
purchases. For the 13 weeks ended July 2, 2022, three vendors accounted for approximately 59.8% of inventory purchases. For the 26 weeks
ended July 1, 2023, one vendor accounted for 100% of inventory purchases. For the 26 weeks ended July 2, 2022, two vendors accounted
for approximately 51% of inventory purchases.
Concentrations
of credit risk with respect to accounts receivable are limited due to the large number of customers comprising the Company’s customer
base. In addition, the Company reviews receivables and recognizes bad debt on a monthly basis for accounts that are deemed uncollectible.
NOTE
13: REVENUE, NET
SCHEDULE
OF REVENUES, NET
| |
July 1, 2023 | | |
July 2, 2022 | | |
July 1, 2023 | | |
July 2, 2022 | |
| |
For the 13 weeks ended | | |
For the 26 weeks ended | |
| |
July 1, 2023 | | |
July 2, 2022 | | |
July 1, 2023 | | |
July 2, 2022 | |
Subscription boxes | |
$ | 2,607,543 | | |
$ | 2,974,550 | | |
$ | 5,579,110 | | |
$ | 6,458,401 | |
3rd party websites | |
| 426,914 | | |
| 559,077 | | |
| 863,212 | | |
| 1,108,577 | |
Online website sales | |
| 414,462 | | |
| 241,041 | | |
| 1,036,075 | | |
| 533,687 | |
Total revenue | |
$ | 3,448,919 | | |
$ | 3,774,668 | | |
$ | 7,478,397 | | |
$ | 8,100,665 | |
Item
2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
General
You
should read the following discussion and analysis of our financial condition and results of operations together with the condensed interim
financial statements and related notes that are included elsewhere in this Quarterly Report on Form 10-Q and the audited financial statements
and the notes to those financial statements for the fiscal year ended December 31, 2022, which were included in our Annual Report on
Form 10-K, filed with the Securities and Exchange Commission on March 31, 2023 (the “2022 Annual Report”). The following
discussion contains forward-looking statements regarding future events and the future results of the Company that are based on current
expectations, estimates, forecasts, and projections about the industry in which the Company operates and the beliefs and assumptions
of the management of the Company. See also “Cautionary Statement Regarding Forward-Looking Information”, above. Words such
as “expects,” “anticipates,” “targets,” “goals,” “projects,” “intends,”
“plans,” “believes,” “seeks,” “estimates,” variations of such words, and similar expressions
are intended to identify such forward-looking statements. These forward-looking statements are only predictions and are subject to risks,
uncertainties and assumptions that are difficult to predict. Therefore, actual results may differ materially and adversely from those
expressed in any forward-looking statements. Factors that might cause or contribute to such differences include, but are not limited
to, those discussed elsewhere in this Quarterly Report and in other reports we file with the SEC. The Company undertakes no obligation
to revise or update publicly any forward-looking statements for any reason, except as otherwise provided by law.
The
following discussion is based upon our financial statements included elsewhere in this Quarterly Report, which have been prepared in
accordance with U.S. generally accepted accounting principles. The preparation of these financial statements requires us to make estimates
and judgments that affect the reported amounts of assets, liabilities, revenues and expenses, and related disclosure of contingencies.
In the course of operating our business, we routinely make decisions as to the timing of the payment of invoices, the collection of receivables,
the shipment of products, the fulfillment of orders, the purchase of supplies, and the building of inventory, among other matters. Each
of these decisions has some impact on the financial results for any given period. In making these decisions, we consider various factors
including contractual obligations, customer satisfaction, competition, internal and external financial targets and expectations, and
financial planning objectives. On an on-going basis, we evaluate our estimates, including those related to sales returns, allowance for
doubtful accounts, impairment of long-term assets, especially goodwill and intangible assets, assumptions used in the valuation of stock-based
compensation, and litigation. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable
under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities
that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.
Kidpik
Corp. (the “Company”) uses a 52–53-week fiscal year ending on the Saturday nearest to December 31 each year. The year
ended December 30, 2023 is a 52-week year and referred to herein as fiscal “2023”. The years ended December 31, 2022 and
January 1, 2022 were both 52-week years. These years are referred to herein as fiscal “2022” and “2021”, respectively.
The Company’s fiscal quarters are generally 13 weeks in duration. When the Company’s fiscal year is 53 weeks long, the corresponding
fourth quarter is 14 weeks in duration. References to the first quarter of fiscal 2023 and the first quarter of fiscal 2022, refer to
the 13 weeks ended July 1, 2023 and July 2, 2022, respectively.
Certain
capitalized terms used below but not otherwise defined, are defined in, and shall be read along with the meanings given to such terms
in, the notes to the unaudited financial statements of the Company for the 13 weeks ended July 1, 2023 and July 2, 2022, above.
References
to our websites and those of third parties below are for information purposes only and, unless expressly stated below, we do not desire
to incorporate by reference into this Report information in such websites.
Unless
the context otherwise requires, references in this Report to “we,” “us,” “our,” the “Registrant”,
the “Company,” “kidpik” and “Kidpik Corp.” refer to Kidpik Corp.
In
addition:
|
● |
“Active
subscriptions” mean individuals who are scheduled to receive future boxes; |
|
● |
“Boxes”
mean the Company’s subscription clothing, shoe and accessories boxes; |
|
● |
“Customers”
means anyone who has received at least one shipment through subscription, direct or indirect sale from the Company; |
|
● |
“Exchange
Act” refers to the Securities Exchange Act of 1934, as amended; |
|
● |
“Members”
means customers who registered at least one subscription; |
|
● |
“NASDAQ”
means the NASDAQ Capital Market; |
|
● |
“SEC”
or the “Commission” refers to the United States Securities and Exchange Commission; |
|
● |
“Securities
Act” refers to the Securities Act of 1933, as amended; and |
|
● |
“Subscriptions”
mean orders for recurring box shipments. |
Available
Information
The
Company makes available free of charge through its internet website, https://investor.kidpik.com/sec-filings, its annual reports
on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K and amendments to these reports filed or furnished pursuant
to Sections 13(a) and 15(d) of the Exchange Act, as soon as reasonably practicable after the Company electronically files such material
with, or furnishes it to, the SEC. Our SEC filings are also available to the public at the SEC’s web site at http://www.sec.gov.
Information contained in, or that can be accessed through, our website is not a part of, and is not incorporated into, this Report.
Further, the Company’s references to website URLs are intended to be inactive textual references only.
Introduction
Our
Management’s Discussion and Analysis of Financial Condition and Results of Operations (“MD&A”) is provided in addition
to the accompanying financial statements and notes to assist readers in understanding our results of operations, financial condition,
and cash flows. MD&A is organized as follows:
|
● |
Overview. |
|
|
|
|
● |
Key
Performance Indicators. |
|
|
|
|
● |
Factors
Affecting Our Future Performance. |
|
|
|
|
● |
Components
of Results of Operations. |
|
|
|
|
● |
Results
of Operations. |
|
|
|
|
● |
Liquidity
and Capital Resources. |
|
|
|
|
● |
Critical
Accounting Estimates. |
Overview
We
began operations in 2016 as a subscription-based e-commerce company on the proposition of making shopping easy, convenient, and accessible
for parents by delivering fashionable and customized kids’ outfits in a box. Kidpik provides kids clothing subscription boxes for
boys and girls (sizes 12M-16) that include mix-&-match, coordinated outfits that are personalized based on each member’s style
preferences. We focus on providing entire outfits from head-to-toe (including shoes) by designing each seasonal collection in-house from
concept to box.
Staying
ahead in an emerging industry requires constant innovation in product and services. After launching with our girls’ subscription
boxes for sizes 4-14 in 2016, we have continued to expand our product offering and marketing channels. We expanded into boys’ clothing,
added larger sizes for boys and girls (up to 16 for apparel and 6 youth for shoes), in the Spring of 2022, added toddler sizes down to
2T & 3T for apparel and 7 & 8 toddler shoes. During the second quarter of 2022, we introduced sizes 12 months and 18 months apparel
to our offerings. We have expanded our distribution by selling our branded products on 3rd party websites.
We
also introduced an “add-on” option for all active members, whereby they can add additional items of their choosing to their
next subscription box order. We plan to broaden the assortment of add-on items offered in an effort to increase the average box transaction
size and gross margin. During the second quarter of 2022, we expanded our subscription box offerings, introducing a 12-piece box option
in addition to our traditional 8-piece box, adding to the customer experience and providing an opportunity to drive additional revenue.
We have also expanded our seasonal pre-styled fashion box and outfit assortment available on our e-commerce website, which provides an
upsell opportunity for active members and additional variety for our e-commerce customers.
As
of the date of this Report, we provide e-commerce services throughout the 48 contiguous U.S. states and Army Post Offices (APOs) and
Fleet Post Offices (FPOs).
We
have expanded our offerings with a limited style introduction of husky/plus and slim sizes to our assortment and launched a limited-edition
NASA selection during the third quarter of 2022. We will continue to analyze the marketplace for interest in new products and may further
invest in expanding our current lines.
We
have added new channels to our paid advertising strategy along with new affiliate partnerships, with the goal of increasing new member
growth. In addition, we have focused on other revenue share marketing opportunities, such as continuing to scale our influencer ambassador
program, and launched a consumer-facing brand ambassador program. We are also pursuing new awareness strategies, such as cross-promotional
opportunities with children’s companies with brand synergies.
Key
Performance Indicators
Key
performance indicators that we use to evaluate our business, measure our performance, identify trends affecting our business, formulate
financial projections and make strategic decisions include gross margin, shipped items, and average shipment keep rate, each described
in greater detail below.
We
also use the following metrics to assess the progress of our business, make decisions on where to allocate capital, time and technology
investments and assess the near-term and longer-term performance of our business.
Gross
Margin
| |
For the 13 weeks ended | | |
For the 26 weeks ended | |
| |
July 1, 2023 | | |
July 2, 2022 | | |
July 1, 2023 | | |
July 2, 2022 | |
| |
| | | |
| | | |
| | | |
| | |
Gross margin | |
| 60.2 | % | |
| 61.0 | % | |
| 60.0 | % | |
| 60.4 | % |
Gross
profit is equal to our net sales less cost of goods sold. Gross profit as a percentage of our net sales is referred to as gross margin.
Cost of sales consists of the purchase price of merchandise sold to customers and includes import duties and other taxes, freight in,
returns from customers, inventory write-offs, and other miscellaneous shrinkage.
Adjusted
EBITDA
In
addition to our results calculated under generally accepted accounting principles in the United States (“U.S. GAAP”), and
to provide investors with additional information regarding our financial results, we have disclosed in the table below and elsewhere
in this Report, Adjusted EBITDA, a non-U.S. GAAP financial measure that we calculate as net loss before other expense, net, interest,
taxes, depreciation and amortization, adjusted to exclude the effects of equity-based compensation expense, and certain non-routine items,
which was a settlement of an insurance claim. We have provided below a reconciliation of Adjusted EBITDA to net loss, the most directly
comparable U.S. GAAP financial measure.
We
have included Adjusted EBITDA in this report because it is a key measure used by our management and board of directors to evaluate our
operating performance, generate future operating plans and make strategic decisions regarding the allocation of capital. In particular,
the exclusion of certain expenses in calculating Adjusted EBITDA facilitates operating performance comparisons on a period-to-period
basis and, in the case of exclusion of the impact of equity-based compensation, excludes an item that we do not consider to be indicative
of our core operating performance. Accordingly, we believe that Adjusted EBITDA provides useful information to investors and others in
understanding and evaluating our operating results in the same manner as our management and board of directors.
Adjusted
EBITDA has limitations as an analytical tool, and you should not consider it in isolation or as a substitute for analysis of our results
as reported under U.S. GAAP. Some of these limitations are:
|
● |
Although
depreciation and amortization are non-cash charges, the assets being depreciated and amortized may have to be replaced in the future,
and Adjusted EBITDA does not reflect cash capital expenditure requirements for such replacements or for new capital requirements; |
|
|
|
|
● |
Adjusted
EBITDA does not reflect changes in, or cash requirements for our working capital needs; |
|
|
|
|
● |
Adjusted
EBITDA does not consider the potentially dilutive impact of equity-based compensation; |
|
|
|
|
● |
Adjusted
EBITDA does not reflect tax payments that may represent a reduction in cash available to us; |
|
|
|
|
● |
Adjusted
EBITDA does not reflect certain non-routine items that may represent a reduction in cash available to us; and |
|
|
|
|
● |
Other
companies, including companies in our industry, may calculate Adjusted EBITDA differently, which reduces its usefulness as a comparative
measure. |
Because
of these limitations, you should consider Adjusted EBITDA alongside other financial performance measures, including various cash flow
metrics, net loss and our other U.S. GAAP results.
Our
financial results include certain items that we consider non-routine and not reflective of the underlying trends in our core business
operations.
A
reconciliation of net loss to Adjusted EBITDA is as follows:
| |
For the 13 weeks ended | | |
For the 26 weeks ended | |
| |
July 1, 2023 | | |
July 2, 2022 | | |
July 1, 2023 | | |
July 2, 2022 | |
Net loss | |
$ | (2,029,225 | ) | |
$ | (1,572,066 | ) | |
$ | (3,979,737 | ) | |
$ | (3,382,741 | ) |
Add (deduct) | |
| | | |
| | | |
| | | |
| | |
Interest expense | |
| 24,415 | | |
| 7,925 | | |
| 49,605 | | |
| 29600 | |
Other expense | |
| - | | |
| - | | |
| - | | |
| (286,795 | ) |
Depreciation and amortization | |
| 12,426 | | |
| 6,654 | | |
| 23,113 | | |
| 12,319 | |
Equity-based compensation | |
| 290,953 | | |
| 433,924 | | |
| 558,429 | | |
| 1,051,088 | |
Adjusted EBITDA | |
$ | (1,701,431 | ) | |
$ | (1,123,563 | ) | |
$ | (3,348,590 | ) | |
$ | (2,576,529 | ) |
Shipped
Items
We
define shipped items as the total number of items shipped in a given period to our customers through our active subscription, Amazon
and online website sales.
| |
For the 13 weeks ended | | |
For the 26 weeks ended | |
| |
(in thousands) | | |
(in thousands) | |
| |
July 1, 2023 | | |
July 2, 2022 | | |
July 1, 2023 | | |
July 2, 2022 | |
| |
| | | |
| | | |
| | | |
| | |
Shipped Items | |
| 290 | | |
| 354 | | |
| 630 | | |
| 725 | |
We
believe the decreases in shipped items for the second quarter of 2023 and first half of 2023 versus the same periods in 2022, as shown
in the table above, were primarily driven by a decrease in subscription boxes sales as a result
of a lower number of new customers being acquired during 2023, in comparison to 2022, due to declines in the overall U.S. economy.
Average
Shipment Keep Rate
| |
For the 13 weeks ended | | |
For the 26 weeks ended | |
| |
July 1, 2023 | | |
July 2, 2022 | | |
July 1, 2023 | | |
July 2, 2022 | |
| |
| | | |
| | | |
| | | |
| | |
Average Shipment Keep Rate | |
| 75.1 | % | |
| 69.2 | % | |
| 71.3 | % | |
| 69.8 | % |
Average
shipment keep rate is calculated as the total number of items kept by our customers divided by total number of shipped items in a given
period.
Factors
Affecting Our Future Performance
We
believe that our performance and future success depend on several factors that present significant opportunities for us, but also pose
risks and challenges, including those referenced in the section titled “Risk Factors.”
Overall
Economic Trends
The
overall economic environment and related changes in consumer behavior have a significant impact on our business. In general, positive
conditions in the broader economy promote customer spending on our sites, while economic weakness, which generally results in a reduction
of customer spending, may have a more pronounced negative effect on spending on our sites. Macroeconomic factors that can affect customer
spending patterns, and thereby our results of operations, include employment rates, high inflation, as is being currently experienced,
business conditions, changes in the housing market, the availability of credit, increases in interest rates, as is being currently experienced
and increases in fuel costs, energy costs, raw material costs, and supply chain challenges.
In addition, during periods of low unemployment, we generally experience higher labor costs. We
are continuing to navigate the uncertainties presented by the current macroeconomic environment and remain focused on improving the conversion
of new members and our overall client experience.
Growth
in Brand Awareness and Site Visits
We
intend to continue investing in our brand marketing efforts. Since 2016, we have made significant investments to strengthen the “kidpik”
brand through expansion of our social media presence. If we fail to cost-effectively promote our brand or convert impressions into new
customers, our net sales growth and profitability would be adversely affected.
Acquisition
of New Subscriptions
Our
ability to attract new subscriptions through marketing and the development of our brand is a key factor for our future growth. If we
are unable to acquire sufficient new subscriptions in the future, our revenue might continue to decline. New subscriptions could be negatively
impacted if our marketing efforts are less effective in the future. Increases in advertising rates could also negatively impact our ability
to acquire new subscriptions cost effectively. Consumer tastes, preferences, and sentiment for our brand may also change and result in
decreased demand for our products and services. Laws and regulations relating to privacy, data protection, marketing and advertising,
and consumer protection are evolving and subject to potentially differing interpretations. These requirements may be interpreted and
applied in a manner that is inconsistent from one jurisdiction to another or may conflict with other rules or our practices and procedures.
Social
networks are important as a source of new clients and as a means by which to connect with current clients, and their importance may be
increasing. We may be unable to effectively maintain a presence within these networks, which could lead to lower than anticipated brand
affinity and awareness, and in turn could adversely affect our operating results. Further, mobile operating system and web browser providers,
such as Apple and Google, have implemented product changes to limit the ability of advertisers to collect and use data to target and
measure advertising. For example, Apple made a change in iOS 14 that required apps to get a user’s opt-in permission before tracking
or sharing the user’s data across apps or websites owned by companies other than the app’s owner. Google intends to further
restrict the use of third-party cookies in its Chrome browser in 2024, consistent with similar actions taken by the owners of other browsers,
such as Apple in its Safari browser, and Mozilla in its Firefox browser. These changes have reduced and will continue to reduce our ability
to efficiently target and measure advertising, in particular through online social networks, making our advertising less cost effective
and successful. We have been, and expect to continue to be, impacted by these changes.
Retention
of Existing Subscribers
Our
ability to retain subscribers is also a key factor in our ability to sustain revenues and generate revenue growth. Most of our current
subscribers purchase products through subscription-based plans, where subscribers are billed and sent products on a recurring basis.
The recurring nature of this revenue provides us with a certain amount of predictability for future revenue. If customer behavior changes,
and customer retention decreases in the future, then future revenue will be negatively impacted.
Inventory
Management
To
ensure sufficient availability of merchandise, we generally enter into purchase orders well in advance and frequently before apparel
trends are confirmed by client purchases. As a result, we are vulnerable to demand and pricing shifts and to suboptimal selection and
timing of merchandise purchases. From time to time, we include inventory write-offs and changes in inventory reserves that impact our
gross margins. Because our merchandise assortment directly correlates to client success, we may at time optimize our inventory to prioritize
long-term client success over short-term gross margin impact. Moreover, over inventory investments will fluctuate with the needs of our
business. For example, entering new categories or adding new fulfillment centers will require additional investments in inventory.
Investments
in Growth
We
expect to continue to focus on long-term growth through investments in product offerings and the kids and parent experience. We expect
to make significant investments in marketing to acquire new subscribers and customers. Additionally, we intend to continue to invest
in our fulfillment and operating capabilities. In the short term, we expect these investments to increase our operating expenses in the
future and cannot be certain that these efforts will grow our customer base or be cost-effective; however, in the long term, we anticipate
that these investments will positively impact our results of operations.
Components
of Results of Operations
Note
that our classification of the various items making up cost of goods sold, shipping and handling, payroll and related costs, equity-based
compensation and general and administrative costs may vary from other companies in our industry, and as such, may not be comparable to
a competitor’s.
Revenue
We
generate revenue in two categories: 1) the sale items in our subscription boxes, and 2) the sale of one-time purchases via shop.kidpik.com,
and 3rd party websites. We refer to these revenue classifications as “Subscription boxes” and “one-time
purchases”, respectively. Net revenue is revenue less promotional discounts, actual customer credits and refunds as well as customer
credits and refunds expected to be issued, and sales tax. When we use the term revenue in this Report, we are referring to net revenue,
unless otherwise stated. We also recognize revenue resulting upon the use of gift cards. Customers who decide to return some or all of
the merchandise they receive in each kidpik box, may return such items within 10 days of receipt of the box. Customers are charged for
subscription merchandise which is not returned, or which is accepted and are charged for general merchandise (non-subscription) when
they purchase such merchandise; however, they are able to receive a refund on returned merchandise.
Cost
of Goods Sold
Cost
of goods sold consists of the costs of manufacturing merchandise and the expenses of shipping and importing (duty payments) such merchandise
to our warehouse for distribution, and inventory write-offs, offset by the recoverable cost of merchandise estimated to be returned.
Shipping
and Handling
Shipping
and handling includes the costs of shipping merchandise to our customers, and back to us, as well as the cost of fulfillment and return
processing, and the materials used for packing.
Payroll
and Related Expenses
Payroll
and related expenses represent employee salaries, taxes, benefits, shared-based compensation, and fees to our payroll provider.
General
and Administrative Expenses
General
and administrative expenses consist primarily of marketing, professional fees, 3rd party seller fees, rent, bad debt expense
and credit card fees, among others.
Depreciation
and Amortization
Depreciation
and amortization expenses consist of depreciation expense for leasehold improvements and equipment.
Interest
Expense
Interest
expense consists primarily of interest expense associated with our lines of credit, outstanding notes payable, and amortization of deferred
expense related to our line of credit.
Other
Non-Operating Income
Other
non-operating income
in the first quarter of 2022, mainly related to settlement of an insurance claim related to business interruption of damaged inventory.
Provision
for Income Taxes
Our
provision for income taxes consists of an estimate of federal and state income taxes based on enacted federal and state tax rates, as
adjusted for allowable credits, deductions, uncertain tax positions, and changes in the valuation allowance of our net federal and state
deferred tax assets.
Results
of Operations
Comparison
of the thirteen weeks ended July 1, 2023 and July 2, 2022
Revenue
Our
revenue for the 13 weeks ended July 1, 2023, decreased by 8.6% to $3,448,919, compared to $3,774,668 for the 13 weeks ended July 2, 2022,
a decrease of $325,749 from the prior period. The revenue breakdown by sales channel for the 13 weeks ended July 1, 2023, and July 2,
2022, is summarized in the table below:
| |
13 weeks ended July 1, 2023 | | |
13 weeks ended July 2, 2022 | | |
Change ($) | | |
Change (%) | |
Revenue by channel | |
| | | |
| | | |
| | | |
| | |
Subscription boxes | |
$ | 2,607,543 | | |
$ | 2,974,550 | | |
$ | (367,007 | ) | |
| (12.3 | )% |
3rd party websites | |
| 426,914 | | |
| 559,077 | | |
| (132,163 | ) | |
| (23.6 | )% |
Online website sales | |
| 414,462 | | |
| 241,041 | | |
| 173,421 | | |
| 71.9 | % |
Total revenue | |
$ | 3,448,919 | | |
$ | 3,774,668 | | |
$ | (325,749 | ) | |
| (8.6 | )% |
Our
revenue for the 26 weeks ended July 1, 2023, decreased by 7.7% to $7,478,397, compared to $8,100,665 for the 26 weeks ended July 2, 2022,
a decrease of $622,269 from the prior period. The revenue breakdown by sales channel for the 26 weeks ended July 1, 2023, and July 2,
2022, is summarized in the table below:
| |
26 weeks ended July 1, 2023 | | |
26 weeks ended July 2, 2022 | | |
Change ($) | | |
Change (%) | |
Revenue by channel | |
| | | |
| | | |
| | | |
| | |
Subscription boxes | |
$ | 5,579,110 | | |
$ | 6,458,401 | | |
$ | (879,291 | ) | |
| (13.6 | )% |
3rd party websites | |
| 863,212 | | |
| 1,108,577 | | |
| (245,365 | ) | |
| (22.1 | )% |
Online website sales | |
| 1,036,075 | | |
| 533,687 | | |
| 502,388 | | |
| 94.1 | % |
Total revenue | |
$ | 7,478,397 | | |
$ | 8,100,665 | | |
$ | (622,268 | ) | |
| (7.7 | )% |
The
revenue from subscription boxes for the 13 weeks ended July 1, 2023 and July 2, 2022, was generated from active subscriptions recurring
boxes revenue and new subscriptions first box revenue, as summarized in the table below:
| |
13 weeks ended July 1, 2023 | | |
13 weeks ended July 2, 2022 | | |
Change ($) | | |
Change (%) | |
Subscription boxes revenue from | |
| | | |
| | | |
| | | |
| | |
Active subscriptions – recurring boxes | |
$ | 2,177,298 | | |
$ | 2,650,324 | | |
$ | (473,026 | ) | |
| (17.8 | )% |
New subscriptions - first box | |
| 430,245 | | |
| 324,226 | | |
| 106,019 | | |
| 32.7 | % |
Total subscription boxes revenue | |
$ | 2,607,543 | | |
$ | 2,974,550 | | |
$ | (367,007 | ) | |
| (12.3 | )% |
The
revenue from subscription boxes for the 26 weeks ended July 1, 2023 and July 2, 2022, was generated from active subscriptions recurring
boxes revenue and new subscriptions first box revenue, as summarized in the table below:
| |
26 weeks ended July 1, 2023 | | |
26 weeks ended July 2, 2022 | | |
Change ($) | | |
Change (%) | |
Subscription boxes revenue from | |
| | | |
| | | |
| | | |
| | |
Active subscriptions – recurring boxes | |
$ | 4,578,324 | | |
$ | 5,786,892 | | |
$ | (1,208,568 | ) | |
| (20.9 | )% |
New subscriptions - first box | |
| 1,000,786 | | |
| 671,509 | | |
| 329,277 | | |
| 49.0 | % |
Total subscription boxes revenue | |
$ | 5,579,110 | | |
$ | 6,458,401 | | |
$ | (879,291 | ) | |
| (13.6 | )% |
The
decrease in revenue for the 13 weeks ended July 1, 2023 was primarily driven by a decrease in subscription boxes sales. The revenue breakdown
by product line for the 13 weeks ended July 1, 2023 and July 2, 2022 is summarized in the table below:
| |
13 weeks ended July 1, 2023 | | |
13 weeks ended July 2, 2022 | | |
Change ($) | | |
Change (%) | |
Revenue by product line | |
| | | |
| | | |
| | | |
| | |
Girls’ apparel | |
$ | 2,636,965 | | |
$ | 2,762,669 | | |
$ | (125,704 | ) | |
| (4.6 | )% |
Boys’ apparel | |
| 640,937 | | |
| 821,650 | | |
| (180,713 | ) | |
| (22.0 | )% |
Toddlers’ apparel | |
| 171,017 | | |
| 190,349 | | |
| (19,332 | ) | |
| (10.5 | )% |
Total revenue | |
$ | 3,448,919 | | |
$ | 3,774,668 | | |
$ | (326,349 | ) | |
| (8.6 | )% |
The
decrease in revenue for the 26 weeks ended July 2, 2022 was primarily driven by a decrease in subscription boxes sales, due to the difficult
retail environment. The revenue breakdown by product line for the 26 weeks ended July , 2023 and July 2, 2022 is summarized in the tables
below:
| |
26 weeks ended July 1, 2023 | | |
26 weeks ended July 2, 2022 | | |
Change ($) | | |
Change (%) | |
Revenue by product line | |
| | | |
| | | |
| | | |
| | |
Girls’ apparel | |
$ | 5,684,721 | | |
$ | 6,019,561 | | |
$ | (334,840 | ) | |
| (5.6 | )% |
Boys’ apparel | |
| 1,428,096 | | |
| 1,689,445 | | |
| (261,349 | ) | |
| (15.5 | )% |
Toddlers’ apparel | |
| 365,580 | | |
| 391,659 | | |
| (26,079 | ) | |
| (6.7 | )% |
Total revenue | |
$ | 7,478,397 | | |
$ | 8,100,665 | | |
$ | (622,268 | ) | |
| (7.7 | )% |
The
number of items shipped to our customers decreased by 17.9%, from approximately 354,000 for the 13 weeks ended July 2, 2022, to approximately
290,000 for the 13 weeks ended July 1, 2023, due to challenging subscription environment. The average shipment keep rate increased to
75.1% in the 13 weeks ended July 1, 2023, compared to 69.2% in the 13 weeks ended July 2, 2022.
The
number of items shipped to our customers decreased by 13.0%, from approximately 725,000 for the 26 weeks ended July 2, 2022, to approximately
630,000 for the 26 weeks ended July 1, 2023. The average shipment keep rate increased to 71.3% in the 26 weeks ended July 1, 2023, compared
to 69.8% in the 26 weeks ended July 1, 2022.
Cost
of Goods Sold
Our
cost of goods sold decreased by 6.8% to $1,372,563 for the 13 weeks ended July 1, 2023, compared to $1,473,380 for the 13 weeks ended
July 2, 2022, a decrease of $100,817.
Our
cost of goods sold decreased by 6.7% to $2,991,789 for the 26 weeks ended July 1, 2023, compared to $3,207,294 for the 26 weeks ended
July 2, 2022, a decrease of $215,505.
The
decrease in cost of goods sold for the 13 and 26 weeks ended July 1, 2023, compared to the same periods in fiscal 2022, was primarily
attributable to the decrease in our subscription box sales as discussed above.
Gross
Profit and Gross Profit as a Percentage of Revenue
Our
gross profit was $2,076,356 for the 13 weeks ended July 1, 2023, compared to gross profit of $2,301,288 for the 13 weeks ended July 2,
2022. The decrease in gross profit for the 13 weeks ended July 1, 2023, compared to the same period in fiscal 2022, was primarily attributable
to the decrease in our subscription box sales, related to a challenging retail environment.
Gross
profit as a percentage of revenue was 60.2% for the 13 weeks ended July 1, 2023, compared to 61.0% for the 13 weeks ended July 2, 2022.
Our
gross profit was $4,486,608 for the 26 weeks ended July 1, 2023, compared to gross profit of $4,893,371 for the 26 weeks ended July 2,
2022. The decrease in gross profit for the 26 weeks ended July 1, 2023, compared to the same period in fiscal 2022, was primarily attributable
to the decrease in our subscription box sales.
Gross
profit as a percentage of revenue was 60.0% for the 26 weeks ended July 1, 2023, compared to 60.4% for the 26 weeks ended July 1, 2022.
Operating
Expenses
Our
operating expenses for the 13 weeks ended July 1, 2023 and July 2, 2022, are summarized in the table below:
| |
13 weeks ended July 1, 2023 | | |
13 weeks ended July 2, 2022 | | |
Change ($) | | |
Change (%) | |
Expenses | |
| | | |
| | | |
| | | |
| | |
Shipping and handling | |
$ | 949,734 | | |
$ | 959,141 | | |
$ | (9,407 | ) | |
| (1.0 | )% |
Payroll, related costs and equity-based compensation | |
| 1,094,135 | | |
| 1,346,744 | | |
| (252,609 | ) | |
| (18.8 | )% |
General and administrative | |
| 2,024,871 | | |
| 1,552,890 | | |
| 471,981 | | |
| 30.4 | % |
Depreciation and amortization | |
| 12,426 | | |
| 6,654 | | |
| 5,772 | | |
| 86.7 | % |
Total expenses | |
$ | 4,081,166 | | |
$ | 3,865,429 | | |
$ | 215,737 | | |
| 5.6 | % |
Our
operating expenses include general and administrative expenses, salaries and benefits, shipping and handling, and depreciation and amortization,
as shown in the tables above. Our operating expenses for the 13 weeks ended July 1, 2023, increased by $215,737 or 5.6% to $4,081,166,
compared to $3,865,429 for the 13 weeks ended July 1, 2022. This increase was mainly a result of (i) a $471,981 increase in general and
administrative expenses, mainly due to an increase in marketing expenses and franchise tax fees, offset by a decrease in third party
fees due to the decrease in sales, offset by (ii) a decrease in payroll and related costs of $252,609, mainly due to a decrease in non-cash,
equity-based compensation and lower headcount related to cost reductions, recorded in the second quarter of 2023, compared to the same
period in fiscal 2022.
Our
operating expenses for the 26 weeks ended July 1, 2023 and July 2, 2022, are summarized in the table below:
|
|
26
weeks ended
July
1, 2023 |
|
|
26
weeks ended
July
2, 2022 |
|
|
Change
($) |
|
|
Change
(%) |
|
Expenses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Shipping
and handling |
|
$ |
2,138,956 |
|
|
$ |
2,091,225 |
|
|
$ |
47,731 |
|
|
|
2.3 |
% |
Payroll,
related costs and equity-based compensation |
|
|
2,205,236 |
|
|
|
2,945,980 |
|
|
|
(740,744 |
)
|
|
|
(25.1 |
)% |
General
and administrative |
|
|
4,049,435 |
|
|
|
3,483,783 |
|
|
|
565,652 |
|
|
|
16.2 |
% |
Depreciation
and amortization |
|
|
23,113 |
|
|
|
12,319 |
|
|
|
10,794 |
|
|
|
87.6 |
% |
Total
expenses |
|
$ |
8,416,740 |
|
|
$ |
8,533,307 |
|
|
$ |
(116,567 |
)
|
|
|
(1.4 |
)% |
Our
operating expenses include general and administrative expenses, salaries and benefits, shipping and handling, and depreciation and
amortization, as shown in the tables above. Our operating expenses for the 26 weeks ended July 1, 2023, decreased by $116,567 or
1.4% to $8,416,740, compared to $8,533,307 for the 26 weeks ended July 2, 2022. This decrease was mainly a result of (i) a decrease
in payroll and related costs of $740,744, mainly due to a decrease in non-cash, equity-based compensation and lower headcount,
recorded in the second quarter of 2023, compared to the same period in fiscal 2022, offset by (ii) a $565,652 increase in general
and administrative expenses, mainly due to an increase in marketing expenses and franchise tax fees, offset by a decrease in third
party fees due to the decrease in sales .
Loss
from Operations
Loss
from operations increased from $1,564,141 for the 13 weeks ended July 2, 2022, to $2,004,810 for the 13 weeks ended July 1, 2023. The
increase in loss from operations was largely due to a decrease in sales, and an increase in general and administrative expenses, offset
by a decrease in payroll as discussed above.
Loss
from operations increased from $3,639,936 for the 26 weeks ended July 2, 2022, to $3,930,132 for the 26 weeks ended July 1, 2023. The
increase in loss from operations was largely due to a decrease in sales and an increase in general and administrative expenses, offset
by a decrease in payroll as discussed above.
Other
Expenses (Income)
For
the 13 weeks ended July 1, 2023 and July 2, 2022, total other expenses, consisting solely of interest expenses, were $24,415 and $7,925,
respectively. The increase in interest expense is related to the Company’s operating leases, related to a change in accounting
policy regarding operating leases.
Total
other expenses (income) were $49,605 and ($257,195) for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively. The increase
in interest expense from $29,600 for the 26 weeks ended July 2, 2022 to $49,605 for the 26 weeks ended July 1, 2023, is related to the
Company’s operating leases and a decrease in other income for the 26 weeks ended July 1, 2023 from $286,795 for the 26 weeks ended
July 2, 2022 to $0 for the 26 weeks ended July 1, 2023, was due to a settlement of insurance claim related to business interruption of
damaged inventory.
Net
Loss
We
had a net loss of $2,029,225 for the 13 weeks ended July 1, 2023, compared to a net loss of $1,572,066 for the 13 weeks ended July 2,
2022, an increase in net loss of $457,159 or 29.1%. The increase in net loss was primarily due to an increase general and administrative
expenses of $471,981 and the decrease in revenue of $325,749, offset by a decrease in payroll of $252,609, each as discussed in greater
detail above.
We
had a net loss of $3,979,737 for the 26 weeks ended July 1, 2023, compared to a net loss of $3,382,741 for the 26 weeks ended July 2,
2022, an increase in net loss of $596,996 or 15.0%. The increase in net loss was primarily due to an increase in general and administrative
expenses of $565,652 and a decrease in revenue of $622,268, offset by a decrease in non-cash compensation of $458,967 and other income
of $286,795, each as discussed in greater detail above.
Liquidity
and Capital Resources
| |
July 1, 2023 | | |
December 31, 2022 | | |
Change ($) | | |
Change (%) | |
Cash and restricted cash | |
$ | 162,759 | | |
$ | 605,213 | | |
$ | (442,454 | ) | |
| (73.1 | )% |
Working capital | |
$ | 4,931,391 | | |
$ | 8,273,601 | | |
$ | (3,342,210 | ) | |
| (40.4 | )% |
Short-term debt, related party | |
$ | 2,050,000 | | |
$ | 2,050,000 | | |
$ | - | | |
| - | |
On
July 1, 2023, we had $162,759 of cash on hand (including restricted cash of $4,618), compared to $605,213 of cash on hand at December
31, 2022 (including restricted cash of $4,618).
As
of July 1, 2023, the Company had total current liabilities of $6,040,664, consisting mainly of accounts payable of $1,702,425, accounts
payable to related party of $1,538,902, accrued expenses of $419,683, operating lease liability of $329,654 and short-term debt from
related party of $2,050,000 (discussed below).
As
of July 1, 2023, we had $10,972,054 in total current assets, $6,040,664 in total current liabilities, working capital of $4,931,391 and
a total accumulated deficit of $45,514,182.
From
inception through November 10, 2021, we mainly relied on equity and loans from Ezra Dabah, our Chief Executive Officer and Chairman,
and his family (which loans have all, other than $2,050,000, been converted into equity as of May 11, 2021), notes payable including
from Nina Footwear Corp. which is 86.36% owned by Ezra Dabah and his family, including Moshe Dabah, our Vice President, Chief Operating
Officer and Chief Technology Officer, for which entity Ezra Dabah serves as Chief Executive Officer and member of the Board of Directors
of “Nina Footwear”, a related party, and a line of credit (repaid as of January 1, 2022), and cash advance agreements (which
have since been terminated), as well as revenue generated through our operations, to support our operations since inception. We have
primarily used our available cash to pay operating expenses (salaries and other expenses), and for merchandise inventory costs, shipping
costs and marketing expenditures. We do not have any material commitments for capital expenditures. Following the closing of our initial
public offering (“IPO”) in November 2021, we have also relied on the funds raised in the IPO to support our operations.
We
have experienced recurring net losses since inception and negative operating cash flows. We believe that we will continue to incur substantial
operating expenses in the foreseeable future as we continue to invest to attract new customers, expand the product offerings and enhance
technology and infrastructure. These efforts may prove more expensive than we anticipate, and we may not succeed in increasing the net
revenue and margins sufficiently to offset these expenses. Accordingly, we may not be able to achieve profitability, and we may incur
significant losses for the foreseeable future.
To
support our existing operations or any future expansion of business, including the ability to execute our growth strategy, we must have
sufficient capital to continue to make investments and fund operations. We have plans to pursue a growth strategy for the expansion of
operations through increased marketing to attract new members and refine the marketing strategy to strategically prioritize customer
acquisition channels that we believe will be more successful at attracting new customers and members. We plan to launch new product lines
to help attract new members and retain existing members.
We
expect to continue to generate net losses for the foreseeable future as we make investments to grow our business. The Company’s
ability to continue its operations is dependent upon obtaining new financing for its ongoing operations and on the Company’s plans
to reduce the inventory level. To manage operating cash flows in the near term, the Company plans to significantly reduce purchases of
new inventory and if available, may enter into cash advance or other financing arrangements. Future financing options which may be available
to the Company include equity financings, debt financings or other capital sources, including collaborations with other companies or
other strategic transactions to fund existing operations and execute management’s growth strategy. Equity financings may include
sales of common stock, warrants or convertible securities. Such financing may not be available on terms favorable to the Company or at
all and may cause significant dilution to existing stockholders. The terms of any financing may adversely affect the holdings or rights
of the Company’s stockholders. Although management continues to pursue these plans, there is no assurance that the Company will
be successful in obtaining sufficient funding on terms acceptable to the Company to fund continued operations, if at all, which would
have a material adverse effect on its business, financial condition and results of operations, and it could ultimately be forced to discontinue
its operations and liquidate. These matters, when considered in the aggregate, raise substantial doubt about the Company’s ability
to continue as a going concern for a reasonable period of time, which is defined as within one year after the date that the financial
statements are issued. The accompanying financial statements do not contain any adjustments to reflect the possible future effects on
the classification of assets or the amounts and classification of liabilities that might result from the outcome of this uncertainty.
On
March 22, 2023, we received written notice (the “Notification Letter”) from the Listing Qualifications Department
of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid
price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule
5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that
a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of thirty (30) consecutive business
days. Based on the closing bid price of the Company’s common stock for the thirty (30) consecutive business days from February
7, 2023 to March 21, 2023, the Company no longer meets the minimum bid price requirement.
The
Notification Letter did not impact the Company’s listing of its common stock on the Nasdaq Capital Market. The Notification Letter
stated that the Company has 180 calendar days or until September 18, 2023, to regain compliance with Nasdaq Listing Rule 5550(a)(2).
To regain compliance, the bid price of the Company’s common stock must have a closing bid price of at least $1.00 per share for
a minimum of 10 consecutive business days. If the Company does not regain compliance by September 18, 2023, an additional 180 days may
be granted to regain compliance, so long as the Company meets The Nasdaq Capital Market initial listing criteria (except for the bid
price requirement) and notifies Nasdaq in writing of its intention to cure the deficiency during the second compliance period by effecting
a reverse stock split, if necessary. If the Company does not qualify for the second compliance period, fails to regain compliance during
the second 180-day period, or if it appears to Nasdaq that the Company will not be able to cure the deficiency, the Company’s common
stock will be subject to delisting, at which point the Company would have an opportunity to appeal the delisting determination to a Hearings
Panel.
The
Company intends to monitor the closing bid price of its common stock and may, if appropriate, consider implementing available options
to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. The Company has received stockholder approval
of an amendment to the Company’s Second Amended and Restated Certificate of Incorporation, to effect a reverse stock split of the
Company’s issued and outstanding shares of our common stock, par value $0.001 per share, by a ratio of between one-for-five to
one-for-twenty, inclusive, with the exact ratio to be set at a whole number to be determined by the Company’s Board of Directors
or a duly authorized committee thereof in its discretion, at any time after approval of the amendment and prior to April 24, 2024. The
Board of Directors may determine to affect a reverse stock split of the Company’s outstanding common stock in the future to attempt
to cure the trading price deficiency raised by Nasdaq.
Cash
Flows
| |
26 weeks ended July 1, 2023 | | |
26 weeks ended July 2, 2022 | |
Cash used in: | |
| | | |
| | |
Operating activities | |
$ | (366,333 | ) | |
$ | (4,803,060 | ) |
Investing activities | |
| (76,121 | ) | |
| (31,317 | ) |
Financing activities | |
| - | | |
| (1,115,847 | ) |
Net decrease in cash | |
$ | (442,454 | ) | |
$ | (5,950,224 | ) |
Net
cash used in operating activities decreased to $366,333 for the 26 weeks ended July 1, 2023, compared to $4,803,060 for the 26 weeks
ended July 2, 2022. The decrease in our cash used in operating activities of approximately $4.4 million was primarily due to changes
in operating assets and liabilities in the amount of approximately $5.6 million, offset by adjustments for non-cash items totaling $0.57
million, and by an increase in net loss in the amount of approximately $0.60 million, as discussed in greater detail above.
Net
cash used in investing activities during the 26 weeks ended July 1, 2023 and July 2, 2022 was $76,121 and $31,317, respectively, each
of which was related solely to leasehold improvements.
Net
cash used in financing activities was $1,115,847 for the 26 weeks ended July 2, 2022, related to repayment of advances payable and notes
payable.
Related
Party Convertible Notes and Loans
On
August 13, 2021, the Company entered into two unsecured convertible promissory notes with stockholders in the aggregate amount of $200,000.
Each of the convertible notes were payable on January 15, 2022 and were automatically convertible into shares of the Company’s
common stock at a conversion price equal to the per share price of the next equity funding completed by the Company in an amount of at
least $2,000,000 and requires the repayment of 110% of such convertible note amount upon a sale of the Company (including a change of
50% or more of the voting shares). On August 25, 2021, the parties agreed to amend the previously convertible notes to remove the conversion
rights provided for therein and clarify that no interest accrues on the convertible notes. On March 31, 2022, and effective on January
15, 2022, the parties amended the notes to be payable on demand.
In
September, October and November 2021, the Company borrowed an aggregate of $2,500,000 from Ezra Dabah, who is our Chief Executive Officer
and Chairman. The notes are unsecured, noninterest-bearing and the principal is fully due on January 15, 2022, at the rate of 110% of
such note amount upon a sale of the Company (including a change of 50% or more of the voting shares). On December 27, 2021, the Company
paid $500,000 of the outstanding loan amounts. On March 31, 2022, and effective on January 15, 2022, the parties amended the notes to
be payable on demand. On June 2, 2022, Company paid $150,000 of the outstanding loan amounts.
As
of July 1, 2023 and December 31, 2022, there was $1,538,902 and $1,107,665 due to related party (Nina Footwear), respectively.
Need
for Future Funding
The
Company’s ability to continue its operations is dependent upon obtaining new financing for its ongoing operations and on the Company’s
plans to reduce the inventory level. To manage operating cash flows in the near term, the Company plans to significantly reduce purchases
of new inventory and may enter into cash advances or other financing arrangements. Future financing options which may be available to
the Company include equity financings, debt financings or other capital sources, including collaborations with other companies or other
strategic transactions to fund existing operations and execute management’s growth strategy. Equity financings may include sales
of common stock. Such financing may not be available on terms favorable to the Company or at all. The terms of any financing may adversely
affect the holdings or rights of the Company’s stockholders and may cause significant dilution to existing stockholders. Although
management continues to pursue these plans, there is no assurance that the Company will be successful in obtaining sufficient funding
on terms acceptable to the Company to fund continued operations, if at all, which would have a material adverse effect on its business,
financial condition and results of operations, and it could ultimately be forced to discontinue its operations and liquidate. These matters,
when considered in the aggregate, raise substantial doubt about the Company’s ability to continue as a going concern for a reasonable
period of time, which is defined as within one year after the date that the condensed interim financial statements are issued. The accompanying
condensed interim financial statements do not contain any adjustments to reflect the possible future effects on the classification of
assets or the amounts and classification of liabilities that might result from the outcome of this uncertainty.
Critical
Accounting Estimates
Our
condensed interim financial statements and the related notes thereto included elsewhere in this Quarterly Report on Form 10-Q are prepared
in accordance with U.S. GAAP. The preparation of condensed interim financial statements requires management to make estimates and assumptions
that affect the reporting values of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed
interim financial statements, and the reported amounts of revenue and expenses during the reporting period. The more significant estimates
and assumptions are those used in determining the recoverability of long-lived assets and inventory obsolescence. Accordingly, actual
results could differ from those estimates. To the extent that there are differences between our estimates and actual results, our future
financial statement presentation, financial condition, results of operations and cash flows will be affected.
Our
critical accounting policies are described under the heading “Management’s Discussion and Analysis of Financial Condition
and Results of Operations—Critical Accounting Policies and Estimates” in the 2022 Annual Report and in “Note 2: Summary
of Significant Accounting Policies” to the audited financial statements appearing in the 2022 Annual Report. During the 26 weeks
ended July 1, 2023, there were no material changes to our critical accounting policies from those discussed in our 2022 Annual Report.
JOBS
Act and Recent Accounting Pronouncements
The
JOBS Act provides that an “emerging growth company” can take advantage of the extended transition period provided in Section
7(a)(2)(B) of the Securities Act, for complying with new or revised accounting standards. In other words, an “emerging growth company”
can delay the adoption of certain accounting standards until those standards would otherwise apply to private companies. We have elected
to take advantage of the extended transition period provided in Section 7(a)(2)(B) of the Securities Act, for complying with new or revised
accounting standards that have different effective dates for public and private companies until the earlier of the date we (i) are no
longer an emerging growth company or (ii) affirmatively and irrevocably opt out of the extended transition period provided in Section
7(a)(2)(B) of the Securities Act.
We
have implemented all new accounting pronouncements that are in effect and may impact our financial statements and we do not believe that
there are any other new accounting pronouncements that have been issued that might have a material impact on our financial position or
results of operations.
Recent
Accounting Pronouncements
Refer
to “Note 2: Summary of Significant Accounting Policies” to our unaudited financial statements included in this Quarterly
Report on Form 10-Q for a discussion of recently issued accounting pronouncements not yet adopted.
Item
3. Quantitative and Qualitative Disclosures about Market Risk
We
are a smaller reporting company as defined by Rule 12b-2 of the Exchange Act and are not required to provide the information otherwise
required under this item.
Item
4. Controls and Procedures
Evaluation
of Disclosure Controls and Procedures
Our
management, with the participation of our Chief Executive Officer and our Chief Accounting Officer, has evaluated the effectiveness of
our disclosure controls and procedures as of July 1, 2023, the end of the period covered by this Quarterly Report on Form 10-Q. The term
“disclosure controls and procedures,” as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, means controls
and other procedures of a company that are designed to ensure that information required to be disclosed by a company in the reports that
it files or submits under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the
SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure
that information required to be disclosed by a company in the reports that it files or submits under the Exchange Act is accumulated
and communicated to our management, including our principal executive and principal financial officers, or persons performing similar
functions, as appropriate to allow timely decisions regarding required disclosure. Based on such evaluation, our Chief Executive Officer
and Chief Accounting Officer have concluded that, as of such date, our disclosure controls and procedures were effective.
Changes
in Internal Control Over Financial Reporting
There
has been no change in our internal control over financial reporting (as defined in Rule 13a-15(f) and 15d-15(f) under the Exchange Act)
during the 13 weeks ended July 1, 2023 that materially affected, or is reasonably likely to materially affect, our internal control over
financial reporting.
Limitations
on Effectiveness of Controls and Procedures
In
designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how
well designed and operated, can provide only reasonable assurance of achieving the desired control objectives. In addition, the design
of disclosure controls and procedures must reflect the fact that there are resource constraints and that management is required to apply
its judgment in evaluating the benefits of possible controls and procedures relative to their costs.
PART
II - OTHER INFORMATION
Item
1. Legal Proceedings
From
time to time, we may become involved in various legal proceedings that arise in the ordinary course of business, principally personal
injury and property casualty claims. Those claims, even if lacking merit, could result in the expenditure by us of significant financial
and managerial resources. We are not party to any material legal proceedings at this time. We may become involved in material legal proceedings
in the future.
Item
1A. Risk Factors
Reference
is made to Part I, Item 1A, “Risk Factors” included in our 2022 Annual Report for information concerning risk factors, which
should be read in conjunction with the factors set forth in “Cautionary Statement Regarding Forward-Looking Information”
of this Report. There have been no material changes with respect to the risk factors disclosed in our 2022 Form 10-K, except as set forth
below. You should carefully consider such factors in the 2022 Form 10-K, and below, which could materially affect our business, financial
condition or future results. The risks described in the 2022 Form 10-K and below, are not the only risks facing our company. Additional
risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially and adversely affect
our business, financial condition and/or operating results.
We
have, and plan to continue to, reduce purchases of inventory to conserve cash.
Over
the past several quarters, and moving forward for the near term, to manage operating cash flows, the Company plans to significantly reduce
purchases of new inventory. Reductions in the purchase of inventory may also result in reduced revenue, as we can only sell merchandise
that we have in inventory. Additionally, in the event the market for our products increases in the near term, we may not have available
inventory of products which customers or members desire to purchase and/or enough of those products to keep up with demand. As a result,
our revenues and margins may decrease, which could have a material adverse effect on our operating results and the value of our securities.
We
may have difficulties finding suitable warehouse space and our move to a new warehouse space may be costly and/or result in an interruption
of our operations.
The
Company entered into a sub-lease agreement for warehouse space from a related party on April 1, 2021. The Company pays 33.3% of the related
party’s fixed monthly rent. The lease expires on September 30, 2023. As of July 1, 2023, the minimum lease payments amount to $63,702
for the year ending December 30, 2023. We expect to find alternative warehouse space when our current sub-lease expires on September
30, 2023. We may not be able to find suitable warehouse space, such alternative warehouse space may not be as large, or allow us to operate
at the same efficiency levels as our current space, and we expect to expend significant resources moving to such new warehouse space,
outfitting such space for our operations, and purchasing new equipment in connection therewith. The move from our current warehouse to
a new warehouse could result in a temporary or prolonged interruption in our business activities. The terms of such warehouse space rental
may also not be as favorable to us as our current lease, may be significantly more expensive and/or may require us to expend additional
amounts on expenses which are covered by our current agreement. Additionally, certain of our employees may decide to terminate their
employment with us rather than relocate to a new location. Any of the above could result in an increase in our operating expenses, interruptions
in our business activities, and decreased revenues, which could have a material adverse effect on the value of our securities.
Item
2. Unregistered Sales of Equity Securities and Use of Proceeds.
Recent
Sales of Unregistered Securities
None.
Use
of Proceeds from Initial Public Offering
On
November 15, 2021, we completed our IPO, in which we sold 2,117,647 shares of common stock at a price to the public of $8.50 per share.
All the shares issued and sold in our IPO were registered under the Securities Act pursuant to a registration statement on Form S-1 (File
No. 333-260101) filed by the Company with the SEC under the Securities Act on October 6, 2021, as amended and the Company’s registration
statement on Form S-1MEF (File No. 333-260986) filed by the Company with the SEC under the Securities Act on November 10, 2021, each
of which became effective on November 10, 2021. We received aggregate net proceeds of approximately $16.1 million, after deducting underwriting
discounts and commissions, and offering costs. There has been no material change in the planned use of proceeds from the IPO from that
described in the Final Prospectus.
Purchases
of Equity Securities by the Issuer and Affiliated Purchasers
None.
Item
3. Defaults Upon Senior Securities.
None.
Item
4. Mine Safety Disclosures
Not
Applicable.
Item
5. Other Information.
None.
Item
6. Exhibits
The
following exhibits are filed herewith or incorporated by reference herein:
*
Filed herewith.
**The
certifications attached as Exhibits 32.1 and 32.2 that accompany this Quarterly Report on Form 10-Q pursuant to 18 U.S.C. Section 1350,
as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, are not deemed “filed” by the Registrant for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, as amended, the Registrant has duly caused this report to be signed on its
behalf by the undersigned thereunto duly authorized.
|
Kidpik
Corp. |
|
|
|
Date:
August 15, 2023 |
By: |
/s/
Ezra Dabah |
|
|
Ezra
Dabah |
|
|
President
and Chief Executive Officer |
|
|
(Principal
Executive Officer) |
|
|
|
Date:
August 15, 2023 |
By: |
/s/
Jill Pasechnick |
|
|
Jill
Pasechnick |
|
|
Chief
Accounting Officer |
|
|
(Principal
Financial and Accounting Officer) |
Exhibit 31.1
CERTIFICATION
I, Ezra Dabah, certify that:
1. I have reviewed this Quarterly Report on Form 10-Q
of Kidpik Corp.;
2. Based on my knowledge, this report does not contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements,
and other financial information included in this report, fairly present in all material respects the financial condition, results of operations
and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officer
and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
and have:
(a) Designed such disclosure controls and
procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information
relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;
(b) Designed such internal control over
financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrant’s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and
procedures, as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change
in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter
(the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to
materially affect, the registrant’s internal control over financial reporting; and
5. The registrant’s other certifying officer
and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors
and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material
weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the
registrant’s ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material,
that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: August 15, 2023 |
By: |
/s/ Ezra Dabah |
|
|
Ezra Dabah |
|
|
President and Chief Executive Officer |
|
|
(Principal Executive Officer) |
Exhibit 31.2
CERTIFICATION
I, Jill Pasechnick, certify that:
1. I have reviewed this Quarterly Report on Form 10-Q
of Kidpik Corp.;
2. Based on my knowledge, this report does not contain
any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances
under which such statements were made, not misleading with respect to the period covered by this report;
3. Based on my knowledge, the financial statements,
and other financial information included in this report, fairly present in all material respects the financial condition, results of operations
and cash flows of the registrant as of, and for, the periods presented in this report;
4. The registrant’s other certifying officer
and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e)
and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant
and have:
(a) Designed such disclosure controls and
procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information
relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly
during the period in which this report is being prepared;
(b) Designed such internal control over
financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable
assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance
with generally accepted accounting principles;
(c) Evaluated the effectiveness of the registrant’s
disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and
procedures, as of the end of the period covered by this report based on such evaluation; and
(d) Disclosed in this report any change
in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter
(the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to
materially affect, the registrant’s internal control over financial reporting; and
5. The registrant’s other certifying officer
and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors
and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):
(a) All significant deficiencies and material
weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the
registrant’s ability to record, process, summarize and report financial information; and
(b) Any fraud, whether or not material,
that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.
Date: August 15, 2023 |
By: |
/s/ Jill Pasechnick |
|
|
Jill Pasechnick |
|
|
Chief Accounting Officer |
|
|
(Principal Financial and Accounting Officer) |
Exhibit 32.1
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY
ACT OF 2002
In connection with the Quarterly
Report on Form 10-Q of Kidpik Corp. (the “Company”) for the period ended July 1, 2023, as filed with the Securities and Exchange
Commission on the date hereof (the “Report”), I, Ezra Dabah, certify, pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:
(1) the Report fully complies
with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) the information contained
in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company at the dates
and for the periods indicated.
/s/ Ezra Dabah |
|
Ezra Dabah |
|
President and Chief Executive Officer |
|
(Principal Executive Officer) |
|
|
|
Date: August 15, 2023 |
|
The foregoing certification
is not deemed filed with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (“Exchange Act”), and is not to be incorporated by reference into any filing of the Company under the Securities Act
of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language
in such filing. A signed original of this written statement required by Section 906 has been provided to the Company and will be retained
by the Company and furnished to the Securities and Exchange Commission or its staff upon request.
Exhibit 32.2
CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350,
AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY
ACT OF 2002
In connection with the Quarterly
Report on Form 10-Q of Kidpik Corp. (the “Company”) for the period ended July 1, 2023, as filed with the Securities and Exchange
Commission on the date hereof (the “Report”), I, Jill Pasechnick, certify, pursuant to 18 U.S.C. Section 1350, as adopted
pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that, to the best of my knowledge and belief:
(1) the Report fully complies
with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and
(2) the information contained
in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company at the dates
and for the periods indicated.
/s/ Jill Pasechnick |
|
Jill Pasechnick |
|
Chief Accounting Officer |
|
(Principal Financial and Accounting Officer) |
|
|
|
Date: August 15, 2023 |
|
The foregoing certification
is not deemed filed with the Securities and Exchange Commission for purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (“Exchange Act”), and is not to be incorporated by reference into any filing of the Company under the Securities Act
of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, regardless of any general incorporation language
in such filing. A signed original of this written statement required by Section 906 has been provided to the Company and will be retained
by the Company and furnished to the Securities and Exchange Commission or its staff upon request.
v3.23.2
Cover - shares
|
6 Months Ended |
|
Jul. 01, 2023 |
Aug. 15, 2023 |
Cover [Abstract] |
|
|
Document Type |
10-Q
|
|
Amendment Flag |
false
|
|
Document Quarterly Report |
true
|
|
Document Transition Report |
false
|
|
Document Period End Date |
Jul. 01, 2023
|
|
Document Fiscal Period Focus |
Q2
|
|
Document Fiscal Year Focus |
2023
|
|
Current Fiscal Year End Date |
--12-31
|
|
Entity File Number |
001-41032
|
|
Entity Registrant Name |
Kidpik
Corp.
|
|
Entity Central Index Key |
0001861522
|
|
Entity Tax Identification Number |
81-3640708
|
|
Entity Incorporation, State or Country Code |
DE
|
|
Entity Address, Address Line One |
200
Park Avenue South
|
|
Entity Address, Address Line Two |
3rd Floor
|
|
Entity Address, City or Town |
New
York
|
|
Entity Address, State or Province |
NY
|
|
Entity Address, Postal Zip Code |
10003
|
|
City Area Code |
(212)
|
|
Local Phone Number |
399-2323
|
|
Title of 12(b) Security |
Common
Stock, par value $0.001 per share
|
|
Trading Symbol |
PIK
|
|
Security Exchange Name |
NASDAQ
|
|
Entity Current Reporting Status |
Yes
|
|
Entity Interactive Data Current |
Yes
|
|
Entity Filer Category |
Non-accelerated Filer
|
|
Entity Small Business |
true
|
|
Entity Emerging Growth Company |
true
|
|
Elected Not To Use the Extended Transition Period |
false
|
|
Entity Shell Company |
false
|
|
Entity Common Stock, Shares Outstanding |
|
7,808,366
|
X |
- DefinitionBoolean flag that is true when the XBRL content amends previously-filed or accepted submission.
+ References
+ Details
Name: |
dei_AmendmentFlag |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEnd date of current fiscal year in the format --MM-DD.
+ References
+ Details
Name: |
dei_CurrentFiscalYearEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gMonthDayItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFiscal period values are FY, Q1, Q2, and Q3. 1st, 2nd and 3rd quarter 10-Q or 10-QT statements have value Q1, Q2, and Q3 respectively, with 10-K, 10-KT or other fiscal year statements having FY.
+ References
+ Details
Name: |
dei_DocumentFiscalPeriodFocus |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fiscalPeriodItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThis is focus fiscal year of the document report in YYYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006.
+ References
+ Details
Name: |
dei_DocumentFiscalYearFocus |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:gYearItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor the EDGAR submission types of Form 8-K: the date of the report, the date of the earliest event reported; for the EDGAR submission types of Form N-1A: the filing date; for all other submission types: the end of the reporting or transition period. The format of the date is YYYY-MM-DD.
+ References
+ Details
Name: |
dei_DocumentPeriodEndDate |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true only for a form used as an quarterly report.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Form 10-Q -Number 240 -Section 308 -Subsection a
+ Details
Name: |
dei_DocumentQuarterlyReport |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true only for a form used as a transition report.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Forms 10-K, 10-Q, 20-F -Number 240 -Section 13 -Subsection a-1
+ Details
Name: |
dei_DocumentTransitionReport |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word 'Other'.
+ References
+ Details
Name: |
dei_DocumentType |
Namespace Prefix: |
dei_ |
Data Type: |
dei:submissionTypeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 1 such as Attn, Building Name, Street Name
+ References
+ Details
Name: |
dei_EntityAddressAddressLine1 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAddress Line 2 such as Street or Suite number
+ References
+ Details
Name: |
dei_EntityAddressAddressLine2 |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Definition
+ References
+ Details
Name: |
dei_EntityAddressCityOrTown |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCode for the postal or zip code
+ References
+ Details
Name: |
dei_EntityAddressPostalZipCode |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the state or province.
+ References
+ Details
Name: |
dei_EntityAddressStateOrProvince |
Namespace Prefix: |
dei_ |
Data Type: |
dei:stateOrProvinceItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionA unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityCentralIndexKey |
Namespace Prefix: |
dei_ |
Data Type: |
dei:centralIndexKeyItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument.
+ References
+ Details
Name: |
dei_EntityCommonStockSharesOutstanding |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionIndicate 'Yes' or 'No' whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ References
+ Details
Name: |
dei_EntityCurrentReportingStatus |
Namespace Prefix: |
dei_ |
Data Type: |
dei:yesNoItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate if registrant meets the emerging growth company criteria.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityEmergingGrowthCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionCommission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
+ Details
Name: |
dei_EntityFileNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:fileNumberItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicate whether the registrant is one of the following: Large Accelerated Filer, Accelerated Filer, Non-accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityFilerCategory |
Namespace Prefix: |
dei_ |
Data Type: |
dei:filerCategoryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTwo-character EDGAR code representing the state or country of incorporation.
+ References
+ Details
Name: |
dei_EntityIncorporationStateCountryCode |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarStateCountryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-T -Number 232 -Section 405
+ Details
Name: |
dei_EntityInteractiveDataCurrent |
Namespace Prefix: |
dei_ |
Data Type: |
dei:yesNoItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityRegistrantName |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionBoolean flag that is true when the registrant is a shell company as defined in Rule 12b-2 of the Exchange Act.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityShellCompany |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionIndicates that the company is a Smaller Reporting Company (SRC).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntitySmallBusiness |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:booleanItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b-2
+ Details
Name: |
dei_EntityTaxIdentificationNumber |
Namespace Prefix: |
dei_ |
Data Type: |
dei:employerIdItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLocal phone number for entity.
+ References
+ Details
Name: |
dei_LocalPhoneNumber |
Namespace Prefix: |
dei_ |
Data Type: |
xbrli:normalizedStringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTitle of a 12(b) registered security.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection b
+ Details
Name: |
dei_Security12bTitle |
Namespace Prefix: |
dei_ |
Data Type: |
dei:securityTitleItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionName of the Exchange on which a security is registered.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Exchange Act -Number 240 -Section 12 -Subsection d1-1
+ Details
Name: |
dei_SecurityExchangeName |
Namespace Prefix: |
dei_ |
Data Type: |
dei:edgarExchangeCodeItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTrading symbol of an instrument as listed on an exchange.
+ References
+ Details
Name: |
dei_TradingSymbol |
Namespace Prefix: |
dei_ |
Data Type: |
dei:tradingSymbolItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
Condensed Interim Balance Sheets - USD ($)
|
Jul. 01, 2023 |
Dec. 31, 2022 |
Current assets |
|
|
Cash |
$ 158,141
|
$ 600,595
|
Restricted cash |
4,618
|
4,618
|
Accounts receivable |
156,396
|
336,468
|
Inventory |
9,755,705
|
12,625,948
|
Prepaid expenses and other current assets |
897,194
|
1,043,095
|
Total current assets |
10,972,054
|
14,610,724
|
Leasehold improvements and equipment, net |
120,965
|
67,957
|
Operating lease right-of-use assets |
1,201,105
|
1,469,665
|
Total assets |
12,294,124
|
16,148,346
|
Current liabilities |
|
|
Accrued expenses and other current liabilities |
419,683
|
587,112
|
Operating lease liabilities, current |
329,654
|
438,957
|
Short-term debt, related party |
2,050,000
|
2,050,000
|
Total current liabilities |
6,040,664
|
6,337,123
|
Operating lease liabilities, net of current portion |
925,014
|
1,061,469
|
Total liabilities |
6,965,678
|
7,398,592
|
Commitments and contingencies |
|
|
Stockholders’ equity |
|
|
Preferred stock, par value $0.001, 25,000,000 shares authorized, of which no shares are issued and outstanding as of July 1, 2023 and December 31, 2022, respectively |
|
|
Common stock, par value $0.001, 75,000,000 shares authorized, of which 7,769,717 shares are issued and outstanding as of July 1, 2023 and 7,688,194 shares issued and outstanding on December 31, 2022 |
7,770
|
7,688
|
Additional paid-in capital |
50,834,858
|
50,276,511
|
Accumulated deficit |
(45,514,182)
|
(41,534,445)
|
Total stockholders’ equity |
5,328,446
|
8,749,754
|
Total liabilities and stockholders’ equity |
12,294,124
|
16,148,346
|
Nonrelated Party [Member] |
|
|
Current liabilities |
|
|
Accounts payable |
1,702,425
|
2,153,389
|
Related Party [Member] |
|
|
Current liabilities |
|
|
Accounts payable |
$ 1,538,902
|
$ 1,107,665
|
X |
- DefinitionCarrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_AccountsPayableCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business, classified as current.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481990/310-10-45-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481990/310-10-45-9
+ Details
Name: |
us-gaap_AccountsReceivableNetCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of excess of issue price over par or stated value of stock and from other transaction involving stock or stockholder. Includes, but is not limited to, additional paid-in capital (APIC) for common and preferred stock.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(18)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)(a)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_AdditionalPaidInCapital |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (bb) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(12)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(8)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(18)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 23: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 26: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(11)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
+ Details
Name: |
us-gaap_Assets |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (bb) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483467/210-10-45-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
+ Details
Name: |
us-gaap_AssetsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_AssetsCurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 45 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480555/946-210-45-21
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 45 -Paragraph 20 -SubTopic 210 -Topic 946 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480555/946-210-45-20
+ Details
Name: |
us-gaap_Cash |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionRepresents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(15)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.17) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.25) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommitmentsAndContingencies |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAggregate par or stated value of issued nonredeemable common stock (or common stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable common shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(22)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483467/210-10-45-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_InventoryNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionSum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (bb) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(14)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 21: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 22: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19-26) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_Liabilities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(25)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(32)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_LiabilitiesAndStockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionTotal obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (bb) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483467/210-10-45-5
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 19: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481404/852-10-50-7
Reference 21: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.21) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_LiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_LiabilitiesCurrentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionPresent value of lessee's discounted obligation for lease payments from operating lease, classified as current.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseLiabilityCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionPresent value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseLiabilityNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's right to use underlying asset under operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseRightOfUseAsset |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of expenses incurred but not yet paid classified as other, due within one year or the normal operating cycle, if longer.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.20) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_OtherAccruedLiabilitiesCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAggregate par or stated value of issued nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer). This item includes treasury stock repurchased by the entity. Note: elements for number of nonredeemable preferred shares, par value and other disclosure concepts are in another section within stockholders' equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(21)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PrepaidExpenseAndOtherAssetsCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(8)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 360 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480842/942-360-50-1
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of cash restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-8
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
+ Details
Name: |
us-gaap_RestrictedCash |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of accumulated undistributed earnings (deficit).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480016/944-40-65-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480016/944-40-65-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-11
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(23)(a)(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(17)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)(a)(3)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_RetainedEarningsAccumulatedDeficit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(6)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(31)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 4.E) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480418/310-10-S99-2
+ Details
Name: |
us-gaap_StockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_StockholdersEquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
Condensed Interim Balance Sheets (Parenthetical) - $ / shares
|
Jul. 01, 2023 |
Dec. 31, 2022 |
Statement of Financial Position [Abstract] |
|
|
Preferred stock, par value |
$ 0.001
|
$ 0.001
|
Preferred stock, shares authorized |
25,000,000
|
25,000,000
|
Preferred stock, shares issued |
0
|
0
|
Preferred stock, shares outstanding |
0
|
0
|
Common stock, par value |
$ 0.001
|
$ 0.001
|
Common stock, shares authorized |
75,000,000
|
75,000,000
|
Common stock, shares issued |
7,769,717
|
7,688,194
|
Common stock, shares outstanding |
7,769,717
|
7,688,194
|
X |
- DefinitionFace amount or stated value per share of common stock.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of common shares permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of common shares of an entity that have been sold or granted to shareholders (includes common shares that were issued, repurchased and remain in the treasury). These shares represent capital invested by the firm's shareholders and owners, and may be all or only a portion of the number of shares authorized. Shares issued include shares outstanding and shares held in the treasury.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of shares of common stock outstanding. Common stock represent the ownership interest in a corporation.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2
Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionFace amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionTotal number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) issued to shareholders (includes related preferred shares that were issued, repurchased, and remain in the treasury). May be all or portion of the number of preferred shares authorized. Excludes preferred shares that are classified as debt.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockSharesIssued |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionAggregate share number for all nonredeemable preferred stock (or preferred stock redeemable solely at the option of the issuer) held by stockholders. Does not include preferred shares that have been repurchased.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_StatementOfFinancialPositionAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
Condensed Interim Statements of Operations (Unaudited) - USD ($)
|
3 Months Ended |
6 Months Ended |
Jul. 01, 2023 |
Jul. 02, 2022 |
Jul. 01, 2023 |
Jul. 02, 2022 |
Income Statement [Abstract] |
|
|
|
|
Revenues, net |
$ 3,448,919
|
$ 3,774,668
|
$ 7,478,397
|
$ 8,100,665
|
Cost of goods sold |
1,372,563
|
1,473,380
|
2,991,789
|
3,207,294
|
Gross profit |
2,076,356
|
2,301,288
|
4,486,608
|
4,893,371
|
Operating expenses |
|
|
|
|
Shipping and handling |
949,734
|
959,141
|
2,138,956
|
2,091,225
|
Payroll and related costs |
1,094,135
|
1,346,744
|
2,205,236
|
2,945,980
|
General and administrative |
2,024,871
|
1,552,890
|
4,049,435
|
3,483,783
|
Depreciation and amortization |
12,426
|
6,654
|
23,113
|
12,319
|
Total operating expenses |
4,081,166
|
3,865,429
|
8,416,740
|
8,533,307
|
Operating loss |
(2,004,810)
|
(1,564,141)
|
(3,930,132)
|
(3,639,936)
|
Other expenses (income) |
|
|
|
|
Interest expense |
24,415
|
7,925
|
49,605
|
29,600
|
Total other expense (income) |
|
|
|
(286,795)
|
Total non-operating expenses |
24,415
|
7,925
|
49,605
|
(257,195)
|
Net loss |
$ (2,029,225)
|
$ (1,572,066)
|
$ (3,979,737)
|
$ (3,382,741)
|
Net loss per share attributable to common stockholders: |
|
|
|
|
Basic |
$ (0.26)
|
$ (0.21)
|
$ (0.52)
|
$ (0.44)
|
Diluted |
$ (0.26)
|
$ (0.21)
|
$ (0.52)
|
$ (0.44)
|
Weighted average common shares outstanding: |
|
|
|
|
Basic |
7,731,195
|
7,636,493
|
7,709,695
|
7,655,359
|
Diluted |
7,731,195
|
7,636,493
|
7,709,695
|
7,655,359
|
X |
- DefinitionThe aggregate cost of goods produced and sold and services rendered during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_CostOfRevenue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
+ Details
Name: |
us-gaap_DepreciationAndAmortization |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-15
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (e)(4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-7
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-10
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(25)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(27)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-52
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-7
+ Details
Name: |
us-gaap_EarningsPerShareBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_EarningsPerShareBasicAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-15
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (e)(4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-7
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(25)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(27)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-52
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-7
+ Details
Name: |
us-gaap_EarningsPerShareDiluted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of expense for employee benefit and equity-based compensation.
+ References
+ Details
Name: |
us-gaap_EmployeeBenefitsAndShareBasedCompensation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_GeneralAndAdministrativeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 17: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 19: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.1,2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_GrossProfit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_IncomeStatementAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of interest expense classified as other.
+ References
+ Details
Name: |
us-gaap_InterestExpenseOther |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482765/220-10-50-6
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-8
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-9
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-10
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483581/946-220-45-7
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(1)(d)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 30: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 31: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 32: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 33: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 34: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483499/205-20-50-7
Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 36: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A
Reference 37: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B
Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business).
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.7) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_NonoperatingIncomeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NonoperatingIncomeExpenseAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionGenerally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense.
+ References
+ Details
Name: |
us-gaap_OperatingExpenses |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_OperatingExpensesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe net result for the period of deducting operating expenses from operating revenues.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
+ Details
Name: |
us-gaap_OperatingIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of income (expense) related to nonoperating activities, classified as other.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.9) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_OtherNonoperatingIncomeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 924 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 11.L) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-4
+ Details
Name: |
us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate total amount of expenses directly related to the marketing or selling of products or services.
+ References
+ Details
Name: |
us-gaap_SellingAndMarketingExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 16 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-16
+ Details
Name: |
us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_WeightedAverageNumberOfSharesOutstandingAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-10
+ Details
Name: |
us-gaap_WeightedAverageNumberOfSharesOutstandingBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
Condensed Interim Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)
|
Common Stock [Member] |
Preferred Stock [Member] |
Additional Paid-in Capital [Member] |
Retained Earnings [Member] |
Total |
Balance at Jan. 01, 2022 |
$ 7,618
|
|
$ 48,659,225
|
$ (33,919,184)
|
$ 14,747,659
|
Balance, shares at Jan. 01, 2022 |
7,617,834
|
|
|
|
|
Equity-based compensation |
|
|
617,164
|
|
617,164
|
Equity-based compensation, shares |
|
|
|
|
|
Net loss |
|
|
|
(1,810,675)
|
(1,810,675)
|
Balance at Apr. 02, 2022 |
$ 7,618
|
|
49,276,389
|
(35,729,859)
|
13,554,148
|
Balance, shares at Apr. 02, 2022 |
7,617,834
|
|
|
|
|
Balance at Jan. 01, 2022 |
$ 7,618
|
|
48,659,225
|
(33,919,184)
|
14,747,659
|
Balance, shares at Jan. 01, 2022 |
7,617,834
|
|
|
|
|
Equity-based compensation |
|
|
|
|
1,051,088
|
Net loss |
|
|
|
|
(3,382,741)
|
Cash used to settle net share equity awards |
|
|
|
|
33,692
|
Balance at Jul. 02, 2022 |
$ 7,688
|
|
49,676,551
|
(37,301,925)
|
12,382,314
|
Balance, shares at Jul. 02, 2022 |
7,688,194
|
|
|
|
|
Balance at Apr. 02, 2022 |
$ 7,618
|
|
49,276,389
|
(35,729,859)
|
13,554,148
|
Balance, shares at Apr. 02, 2022 |
7,617,834
|
|
|
|
|
Equity-based compensation |
|
|
433,924
|
|
433,924
|
Net loss |
|
|
|
(1,572,066)
|
(1,572,066)
|
Issuance of common stock |
$ 70
|
|
(70)
|
|
|
Issuance of common stock, shares |
70,360
|
|
|
|
|
Cash used to settle net share equity awards |
|
|
(33,692)
|
|
(33,692)
|
Balance at Jul. 02, 2022 |
$ 7,688
|
|
49,676,551
|
(37,301,925)
|
12,382,314
|
Balance, shares at Jul. 02, 2022 |
7,688,194
|
|
|
|
|
Balance at Dec. 31, 2022 |
$ 7,688
|
|
50,276,511
|
(41,534,445)
|
8,749,754
|
Balance, shares at Dec. 31, 2022 |
7,688,194
|
|
|
|
|
Equity-based compensation |
|
|
267,476
|
|
267,476
|
Equity-based compensation, shares |
|
|
|
|
|
Net loss |
|
|
|
(1,950,512)
|
(1,950,512)
|
Balance at Apr. 01, 2023 |
$ 7,688
|
|
50,543,987
|
(43,484,957)
|
7,066,718
|
Balance, shares at Apr. 01, 2023 |
7,688,194
|
|
|
|
|
Balance at Dec. 31, 2022 |
$ 7,688
|
|
50,276,511
|
(41,534,445)
|
8,749,754
|
Balance, shares at Dec. 31, 2022 |
7,688,194
|
|
|
|
|
Equity-based compensation |
|
|
|
|
558,429
|
Net loss |
|
|
|
|
(3,979,737)
|
Cash used to settle net share equity awards |
|
|
|
|
|
Balance at Jul. 01, 2023 |
$ 7,770
|
|
50,834,858
|
(45,514,182)
|
5,328,446
|
Balance, shares at Jul. 01, 2023 |
7,769,717
|
|
|
|
|
Balance at Apr. 01, 2023 |
$ 7,688
|
|
50,543,987
|
(43,484,957)
|
7,066,718
|
Balance, shares at Apr. 01, 2023 |
7,688,194
|
|
|
|
|
Equity-based compensation |
|
|
290,953
|
|
290,953
|
Net loss |
|
|
|
(2,029,225)
|
(2,029,225)
|
Issuance of common stock |
$ 82
|
|
(82)
|
|
|
Issuance of common stock, shares |
81,523
|
|
|
|
|
Balance at Jul. 01, 2023 |
$ 7,770
|
|
$ 50,834,858
|
$ (45,514,182)
|
$ 5,328,446
|
Balance, shares at Jul. 01, 2023 |
7,769,717
|
|
|
|
|
X |
- DefinitionCash used to settle net share equity awards
+ References
+ Details
Name: |
pik_CashUsedToSettleNetShareEquityAwards |
Namespace Prefix: |
pik_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482765/220-10-50-6
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-8
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-9
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-10
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483581/946-220-45-7
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(1)(d)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 30: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 31: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 32: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 33: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 34: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483499/205-20-50-7
Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 36: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A
Reference 37: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B
Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of noncash expense for share-based payment arrangement.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_ShareBasedCompensation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionNumber of shares issued under share-based payment arrangement.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesIssuedInPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of shares issued which are neither cancelled nor held in the treasury.
+ References
+ Details
Name: |
us-gaap_SharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of new stock issued during the period.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-03(i)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesNewIssues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEquity impact of the value of new stock issued during the period. Includes shares issued in an initial public offering or a secondary public offering.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-11
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 205 -Name Accounting Standards Codification -Section 45 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480767/946-205-45-4
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodValueNewIssues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of equity (deficit) attributable to parent. Excludes temporary equity and equity attributable to noncontrolling interest.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.6-05(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-2
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(6)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(7)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(31)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 13: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 14: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 4.E) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480418/310-10-S99-2
+ Details
Name: |
us-gaap_StockholdersEquity |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.23.2
Condensed Interim Statements of Cash Flows (Unaudited) - USD ($)
|
3 Months Ended |
6 Months Ended |
Jul. 01, 2023 |
Jul. 02, 2022 |
Jul. 01, 2023 |
Jul. 02, 2022 |
Cash flows from operating activities |
|
|
|
|
Net loss |
$ (2,029,225)
|
$ (1,572,066)
|
$ (3,979,737)
|
$ (3,382,741)
|
Adjustments to reconcile net loss to net cash used in operating activities: |
|
|
|
|
Depreciation and amortization |
|
|
23,113
|
12,319
|
Equity-based compensation |
290,953
|
433,924
|
558,429
|
1,051,088
|
Bad debt expense |
|
|
151,362
|
241,057
|
Changes in operating assets and liabilities: |
|
|
|
|
Accounts receivable |
|
|
28,710
|
(69,959)
|
Inventory |
|
|
2,870,243
|
(1,180,833)
|
Prepaid expenses and other current assets |
|
|
145,901
|
57,175
|
Operating lease right-of-use assets and liabilities |
|
|
22,802
|
5,033
|
Accounts payable |
|
|
(450,965)
|
(1,061,068)
|
Accounts payable, related parties |
|
|
431,238
|
(129,753)
|
Accrued expenses and other current liabilities |
|
|
(167,429)
|
(345,378)
|
Net cash used in operating activities |
|
|
(366,333)
|
(4,803,060)
|
Cash flows from investing activities |
|
|
|
|
Purchases of leasehold improvements and equipment |
|
|
(76,121)
|
(31,317)
|
Net cash used in investing activities |
|
|
(76,121)
|
(31,317)
|
Cash flows from financing activities |
|
|
|
|
Cash used to settle net share equity awards |
|
33,692
|
|
(33,692)
|
Net proceeds from line of credit |
|
|
|
|
Net (repayments) from advance payable |
|
|
|
(932,155)
|
Net (repayments) from loan payable |
|
|
|
(150,000)
|
Net cash used in financing activities |
|
|
|
(1,115,847)
|
Net decrease in cash and restricted cash |
|
|
(442,454)
|
(5,950,224)
|
Cash and restricted cash, beginning of period |
|
|
605,213
|
8,420,500
|
Cash and restricted cash, end of period |
162,759
|
2,470,276
|
162,759
|
2,470,276
|
Reconciliation of cash and restricted cash: |
|
|
|
|
Cash |
158,141
|
2,465,831
|
158,141
|
2,465,831
|
Restricted cash |
4,618
|
4,445
|
4,618
|
4,445
|
Cash and restricted cash, end of period |
$ 162,759
|
$ 2,470,276
|
162,759
|
2,470,276
|
Supplemental disclosure of cash flow data: |
|
|
|
|
Interest paid |
|
|
|
20,577
|
Supplemental disclosure of non-cash flow data: |
|
|
|
|
Record right-of use asset and operating lease liabilities |
|
|
|
$ 1,857,925
|
X |
- DefinitionCash used to settle net share equity awards
+ References
+ Details
Name: |
pik_CashUsedToSettleNetShareEquityAwards |
Namespace Prefix: |
pik_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionOperating lease right-of-use assets and liabilities.
+ References
+ Details
Name: |
pik_IncreaseDecreaseInOperatingLeaseRightOfUseAssetsAndLiabilities |
Namespace Prefix: |
pik_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionProceeds from repayments of advance payable.
+ References
+ Details
Name: |
pik_ProceedsFromRepaymentsOfAdvancePayable |
Namespace Prefix: |
pik_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionRecord right of use asset and operating lease liabilities.
+ References
+ Details
Name: |
pik_RecordRightofuseAssetAndOperatingLeaseLiabilities |
Namespace Prefix: |
pik_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 45 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480555/946-210-45-21
Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 45 -Paragraph 20 -SubTopic 210 -Topic 946 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480555/946-210-45-20
+ Details
Name: |
us-gaap_Cash |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
us-gaap_CashAndCashEquivalentsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage. Excludes amount for disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-8
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-4
+ Details
Name: |
us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; including, but not limited to, disposal group and discontinued operations. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-8
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-4
+ Details
Name: |
us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of increase (decrease) in cash and cash equivalents, and cash and cash equivalents restricted to withdrawal or usage; excluding effect from exchange rate change. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 1 -SubTopic 230 -Topic 830 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481877/830-230-45-1
+ Details
Name: |
us-gaap_CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
+ Details
Name: |
us-gaap_DepreciationDepletionAndAmortization |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionChange in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInAccountsPayableTrade |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInAccountsReceivable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of increase (decrease) in accrued expenses, and obligations classified as other.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInInventories |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_IncreaseDecreaseInOperatingCapitalAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of increase (decrease) of consideration paid in advance for other costs that provide economic benefits in future periods.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_IncreaseDecreaseInPrepaidExpensesOther |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash paid for interest, excluding capitalized interest, classified as operating activity. Includes, but is not limited to, payment to settle zero-coupon bond for accreted interest of debt discount and debt instrument with insignificant coupon interest rate in relation to effective interest rate of borrowing attributable to accreted interest of debt discount.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 17 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-17
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-25
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-2
+ Details
Name: |
us-gaap_InterestPaidNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInFinancingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInInvestingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 24 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-24
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-25
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NetCashProvidedByUsedInOperatingActivitiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482765/220-10-50-6
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-8
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-9
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-10
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483581/946-220-45-7
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(1)(d)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 30: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 31: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 32: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 33: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 34: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483499/205-20-50-7
Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 36: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A
Reference 37: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B
Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_NoncashInvestingAndFinancingItemsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe cash outflow associated with the acquisition of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale; includes cash outflows to pay for construction of self-constructed assets.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 13 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-13
+ Details
Name: |
us-gaap_PaymentsToAcquirePropertyPlantAndEquipment |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe net cash inflow or cash outflow from a contractual arrangement with the lender, including letter of credit, standby letter of credit and revolving credit arrangements, under which borrowings can be made up to a specific amount at any point in time with either short term or long term maturity that is collateralized (backed by pledge, mortgage or other lien in the entity's assets).
+ References
+ Details
Name: |
us-gaap_ProceedsFromRepaymentsOfLinesOfCredit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash inflow (outflow) from long-term debt supported by a written promise to pay an obligation.
+ References
+ Details
Name: |
us-gaap_ProceedsFromRepaymentsOfNotesPayable |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of expense (reversal of expense) for expected credit loss on accounts receivable.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 326 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479319/326-20-50-13
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_ProvisionForDoubtfulAccounts |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of cash and cash equivalents restricted as to withdrawal or usage. Cash includes, but is not limited to, currency on hand, demand deposits with banks or financial institutions, and other accounts with general characteristics of demand deposits. Cash equivalents include, but are not limited to, short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-8
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-4
+ Details
Name: |
us-gaap_RestrictedCashAndCashEquivalents |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of noncash expense for share-based payment arrangement.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_ShareBasedCompensation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
v3.23.2
NATURE OF BUSINESS
|
6 Months Ended |
Jul. 01, 2023 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
NATURE OF BUSINESS |
NOTE
1: NATURE OF BUSINESS
Kidpik
Corp. (the “Company”, “kidpik”, “we”, “our” or “us”) was incorporated on
April 16, 2015 under the laws of Delaware. The Company is a subscription-based e-commerce business geared toward kid products for girls’
and boys’ apparel, footwear, and accessories. The Company serves its customers through the clothing subscription box business,
its retail website, www.kidpik.com, and 3rd party websites. The Company commenced operations in March 2016 and its
executive office is located in New York.
|
X |
- DefinitionThe entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 275 -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -SubTopic 10 -Topic 275 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-1
+ Details
Name: |
us-gaap_NatureOfOperations |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
|
6 Months Ended |
Jul. 01, 2023 |
Accounting Policies [Abstract] |
|
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
NOTE
2: SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis
of accounting: The accompanying condensed interim financial statements have been prepared in accordance with generally accepted accounting
principles in the United States (“U.S. GAAP”), and the rules and regulations of the SEC that apply to interim financial statements
and with the instructions to Form 10-Q and of Regulation S-X. Accordingly, they do not include all of the information and footnotes normally
included in financial statements prepared in conformity with U.S. GAAP. They should be read in conjunction with the financial statements
and notes thereto included in the Company’s 2022 Annual Report on Form 10-K, filed with the SEC on March 31, 2023 (the “Form
10-K”).
The
accompanying condensed interim financial statements are unaudited and include all adjustments (consisting of normal recurring adjustments)
that management considers necessary for a fair presentation of its condensed interim financial position and results of operations for
the interim periods presented.
The
results of operations for the interim periods are not necessarily indicative of the results that may be expected for the entire year.
Fiscal
year: The Company uses a 52-53-week fiscal year ending on the Saturday nearest to December 31 each year. The quarters ended July
1, 2023 and July 2, 2022 consist of 13 weeks. These quarters are referred to herein as the second quarter of “2023” and “2022”,
respectively.
Use
of estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions
that affect the reporting values of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed
interim financial statements, and the reported amounts of revenue and expenses during the reporting period. The more significant estimates
and assumptions are those used in determining the recoverability of long-lived assets and inventory obsolescence. Accordingly, actual
results could differ from those estimates.
Emerging
growth company: The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified
by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from
various reporting requirements that are applicable to other public companies that are not emerging growth companies. Section 102(b)(1)
of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until
private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class
of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply
with the new or revised financial accounting standards.
In
June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards
Update (“ASU”) 2016-13, Financial Instruments—Credit Losses, which replaces the incurred loss
impairment methodology for financial instruments in current U.S. GAAP with a methodology that reflects expected credit losses and requires
consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The FASB has issued ASU 2019-10,
which has resulted in the postponement of the effective date of the new guidance for eligible smaller reporting companies to the fiscal
year beginning January 1, 2023. The guidance must be adopted using a modified retrospective approach and a prospective transition approach
is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date. The adoption
of this guidance did not have a material impact on the Company’s financial position, results of operations and related disclosures.
Concentration
of credit risk: Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash, restricted
cash and accounts receivable. We maintain our cash and restricted cash with high-quality financial institutions with investment-grade
ratings. Although the Company’s cash balance held with a U.S. bank may exceed the amount of federal insurance provided on such
deposits, the Company has not experienced any losses in such accounts. The Company is exposed to credit risk in the event of a default
by the financial institution holding its cash for the amount reflected on the balance sheets. A majority of the cash balances are with
U.S. banks and are insured to the extent defined by the Federal Deposit Insurance Corporation (“FDIC”).
Net
loss per common share: The Company complies with
the accounting and disclosure requirements of FASB Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share.
Net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during
the period. Diluted earnings per share reflects the impact of stock options and restricted stock
units, if any, under the treasury stock method unless their impact is anti-dilutive.
Revenue
recognition: The Company recognizes revenue from three sources; its subscription box sales, kidpik’s online website sales,
and 3rd party website sales. Revenue is gross billings net of promotional discounts, actual customer credits and refunds, as well as
customer credits and refunds expected to be issued, and sales tax. Customers are charged for subscription merchandise which is not returned,
or which is accepted, and are charged for general merchandise (non-subscription) when they purchase such merchandise. Customers can receive
a refund on returned merchandise for which return shipping is a cost to the Company.
Revenue
for subscription box sales is recognized when control of the promised goods is transferred and accepted by the subscriber. Subscribers
have a maximum of 10 days from the date the product is delivered to return any items in the pre-paid delivery bag. Control is transferred
either when a subscriber checks out or automatically ten days after the goods are delivered, whichever occurs first. Upon checkout or
the 10-day period, the amount of the order not returned is recognized as revenue. Payment is due upon checkout or the end of the 10-day
period after the goods are delivered, whichever occurs first. Between August 24, 2021 and January 6, 2022, we
charged new subscribers an upfront styling fee before the box was shipped that was credited toward items purchased. The styling fees
were included in deferred revenue until the time of client checkout or when the option to purchase the item expires.
Revenue
from online website sales, which includes sales from our and 3rd party websites (currently Amazon and Walmart), are recognized
when control of the promised goods are transferred to the Company’s customers, in an amount that depicts the consideration the
Company expects to be entitled to in exchange for those goods. Control is transferred at the time of shipment. Upon shipment, the total
amount of the order is recognized as revenue. Payment for online website sales is due upon time of order.
The
provision for anticipated sales returns consists of both contractual return rights and discretionary authorized returns.
Estimates
of discretionary authorized returns for sales other than subscription sales, discounts and claims are based on (1) historical rates,
(2) specific identification of outstanding returns not yet received from customers and outstanding discounts and claims and (3) estimated
returns, discounts and claims expected, but not yet finalized with customers. Actual returns, discounts and claims in any future period
are inherently uncertain and thus may differ from estimates recorded. If actual or expected future returns, discounts or claims were
significantly greater or lower than reserves established, a reduction or increase to net revenue would be recorded in the period in which
such determination was made.
Shipping
and handling costs associated with outbound freight fulfillment before control over a product has transferred to a customer are accounted
for as a shipping and handling cost in the condensed interim statements of operations.
Taxes
assessed by governmental authorities that are both imposed on and concurrent with a specific revenue producing transaction and are collected
by the Company from a customer are excluded from revenue and cost of goods sold in the condensed interim statements of operations.
Restricted
cash: Restricted cash balance consists of cash advances received by the Company from the cash advance agreement. The cash advances
can only be used for purchases of products and marketing related services necessary to operate the Company, as defined by the agreement.
Inventory:
Inventory, consisting primarily of finished goods, is valued at the lower of cost or net realizable value using the weighted average
cost method. In addition, the Company capitalizes freight, duty and other supply chain costs in inventory. These costs are included in
the cost of sales as inventory is sold.
Leasehold
improvements and equipment: Leasehold improvements and equipment are recorded at cost. Depreciation for equipment is computed using
the straight-line method over the estimated useful life of the assets ranging from three to five years. Leasehold improvements are amortized
over the shorter of the term of the lease or the life of the improvement on a straight-line method. Expenditures that extend the useful
lives of the equipment are capitalized. Expenditure for the repairs and maintenance are charged to expense as incurred. The gain or loss
arising on the disposal or retirement of an asset is determined as the difference between the sales proceeds and the carrying amount
of the asset and is recognized in operations.
Impairment
of long-lived assets: The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate
that the carrying amount of an asset may not be recoverable. In performing a review for impairment, the Company compares the carrying
value of the assets with their estimated future undiscounted pre-tax cash flows. If it is determined that impairment has occurred, the
loss would be recognized during that period. The impairment loss is calculated as the difference between the assets’ carrying value
and the present value of estimated net cash flows or comparable market values, giving consideration to recent operating performance and
pricing trends. As a result of its review, the Company does not believe that any material impairment currently exists related to its
long-lived assets.
Deferred
financing costs: Deferred financing costs, net of accumulated amortization, are reported as a direct deduction from the face amount
of the line of credit to which such costs relate. Amortization of debt issuance costs is reported as a component of interest expenses
and is computed using the straight-line method over the term of the agreement, which approximates the effective interest method.
Income
taxes: The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities
are recognized with respect to the future tax consequences attributable to differences between the tax bases of assets and liabilities
and their carrying amounts for financial statement purposes. Deferred tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect
on deferred tax assets and liabilities of a change in tax rate is recognized in the period that includes the enactment date. Valuation
allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.
The
Company applies U.S. GAAP accounting for uncertainty in income taxes. If the Company considers that a tax position is more likely than
not of being sustained upon audit, based solely on the technical merits of the position, it recognizes the tax benefit. The Company measures
the tax benefit by determining the amount that is greater than 50% likely of being realized upon settlement, presuming the tax position
is examined by the appropriate taxing authority that has full knowledge of relevant information.
The
Company has no unrecognized tax benefits at July 1, 2023 and December 31, 2022. The Company’s federal, state and local income tax
returns prior to fiscal year 2019 are closed and management continually evaluates expiring statutes of limitations, audits, proposed
settlements, changes in tax law and new authoritative rulings.
The
Company recognizes interest and penalties associated with tax matters, if any, as part of operating expenses and includes accrued interest
and penalties with accrued expenses in the condensed interim balance sheets.
Advertising
costs: Direct advertising and promotion costs are expensed as incurred. Advertising and promotion expenses totaled $938,639 and $583,747
for the 13 weeks ended July 1, 2023, and July 2, 2022, respectively. Advertising and promotion expenses totaled $1,840,742 and $1,302,128
for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively. Advertising and promotion expenses are included in general and administrative
expenses in the condensed interim statements of operations.
Bad
debt expense: Bad debt expense is recognized when a receivable is no longer collectible after a customer is unable to fulfill their
obligation to pay an outstanding balance.
Equity-based
compensation: The Company measures equity-based compensation expense associated with the awards granted based on their estimated
fair values at the grant date. For awards with service condition only, equity-based compensation expense is recognized over the requisite
service period using the straight-line method. The grant-date fair value of stock options is estimated using the Black-Scholes option
pricing model. Forfeitures are recorded as they occur. See Note 11, Equity-based compensation, for additional details.
Segment
information: The Company has one operating segment and one reportable segment as its chief operating decision maker, who is its Chief
Executive Officer, reviews financial information on a consolidated basis for purposes of allocating resources and evaluating financial
performance. All long-lived assets are located in the United States.
|
X |
- References
+ Details
Name: |
us-gaap_AccountingPoliciesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for all significant accounting policies of the reporting entity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483426/235-10-50-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 235 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//235/tableOfContent
+ Details
Name: |
us-gaap_SignificantAccountingPoliciesTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
LIQUIDITY
|
6 Months Ended |
Jul. 01, 2023 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
|
LIQUIDITY |
NOTE
3: LIQUIDITY
The
Company has sustained losses from operations since inception, negative operating cash flows and has an accumulated deficit of $45,514,182
as of July 1, 2023. The Company will continue to incur substantial operating expenses in the foreseeable future as the Company continues
to invest in attracting new customers, expanding its product offerings and enhancing technology and infrastructure. These efforts may
prove more expensive than the Company anticipates, and the Company may not succeed in increasing revenue and margins sufficiently to
offset these expenses. Accordingly, the Company may not be able to achieve profitability, and the Company may incur significant losses
for the foreseeable future.
To
support the Company’s existing operations or any future expansion of business, including the ability to execute the Company’s
growth strategy, the Company must have sufficient capital to continue to make investments and fund operations. Management has plans to
pursue a growth strategy for the expansion of operations through increased marketing to attract new members and refine the marketing
strategy to strategically prioritize customer acquisition channels that management believes will be more successful at attracting new
customers and members.
The
Company’s ability to continue its operations is dependent upon obtaining new financing for its ongoing operations and on the Company’s
plans to reduce its inventory level. To manage operating cash flows in the near term, the Company plans to significantly reduce purchases
of new inventory and if available, may enter into cash advance or other financing arrangements. Future financing options available to
the Company may include equity financings, debt financings or other capital sources, including collaborations with other companies or
other strategic transactions to fund existing operations and execute management’s growth strategy. Equity financings may include
sales of common stock. Such financing may not be available on terms favorable to the Company or at all. The terms of any financing may
adversely affect the holdings or rights of the Company’s stockholders and may cause significant dilution to existing stockholders.
Although management continues to pursue these plans, there is no assurance that the Company will be successful in obtaining sufficient
funding on terms acceptable to the Company to fund continued operations, if at all, which would have a material adverse effect on its
business, financial condition and results of operations, and it could ultimately be forced to discontinue its operations and liquidate.
These matters, when considered in the aggregate, raise substantial doubt about the Company’s ability to continue as a going concern
for a reasonable period of time, which is defined as within one year after the date that the financial statements are issued. The
accompanying financial statements do not contain any adjustments to reflect the possible
future effects on the classification of assets or the amounts and classification of liabilities that might result from the outcome
of this uncertainty.
On
March 22, 2023, the Company received written notice (the “Notification Letter”) from the Listing Qualifications Department
of The Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that it is not in compliance with the minimum bid
price requirements set forth in Nasdaq Listing Rule 5550(a)(2) for continued listing on The Nasdaq Capital Market. Nasdaq Listing Rule
5550(a)(2) requires listed securities to maintain a minimum bid price of $1.00 per share, and Listing Rule 5810(c)(3)(A) provides that
a failure to meet the minimum bid price requirement exists if the deficiency continues for a period of thirty (30) consecutive business
days. Based on the closing bid price of the Company’s common stock for the thirty (30) consecutive business days from February
7, 2023 to March 21, 2023, the Company no longer meets the minimum bid price requirement.
The
Notification Letter did not impact the Company’s listing of its common stock on the Nasdaq Capital Market at that time. The Notification
Letter stated that the Company had 180 calendar days or until September 18, 2023, to regain compliance with Nasdaq Listing Rule 5550(a)(2).
To regain compliance, the bid price of the Company’s common stock must have a closing bid price of at least $1.00 per share for
a minimum of 10 consecutive business days. If the Company does not regain compliance by September 18, 2023, an additional 180 days may
be granted to regain compliance, so long as the Company meets The Nasdaq Capital Market initial listing criteria (except for the bid
price requirement) and notifies Nasdaq in writing of its intention to cure the deficiency during the second compliance period by effecting
a reverse stock split, if necessary. If the Company does not qualify for the second compliance period, fails to regain compliance during
the second 180-day period, or if it appears to Nasdaq that the Company will not be able to cure the deficiency, the Company’s common
stock will be subject to delisting, at which point the Company would have an opportunity to appeal the delisting determination to a Hearings
Panel.
The
Company intends to monitor the closing bid price of its common stock and may, if appropriate, consider implementing available options
to regain compliance with the minimum bid price requirement under the Nasdaq Listing Rules. The Company also received stockholder approval
at its 2023 Annual Meeting of Stockholders held on June 19, 2023, of an amendment to the Company’s Second Amended and Restated
Certificate of Incorporation, to effect a reverse stock split of the Company’s issued and outstanding shares of common stock, by
a ratio of between one-for-five to one-for-twenty, inclusive, with the exact ratio to be set at a whole number to be determined by the
Company’s Board of Directors or a duly authorized committee thereof in its discretion, at any time prior to April 24, 2024.
|
X |
- References
+ Details
Name: |
us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure when substantial doubt is raised about the ability to continue as a going concern. Includes, but is not limited to, principal conditions or events that raised substantial doubt about the ability to continue as a going concern, management's evaluation of the significance of those conditions or events in relation to the ability to meet its obligations, and management's plans that alleviated or are intended to mitigate the conditions or events that raise substantial doubt about the ability to continue as a going concern.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 205 -SubTopic 40 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//205-40/tableOfContent
+ Details
Name: |
us-gaap_SubstantialDoubtAboutGoingConcernTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
INVENTORY
|
6 Months Ended |
Jul. 01, 2023 |
Inventory Disclosure [Abstract] |
|
INVENTORY |
NOTE
4: INVENTORY
Inventory
consists of the following:
SCHEDULE
OF INVENTORIES
| |
July 1, 2023 | | |
December 31, 2022 | |
| |
(unaudited) | | |
| |
Finished goods | |
$ | 9,755,705 | | |
$ | 12,625,948 | |
Total | |
$ | 9,755,705 | | |
$ | 12,625,948 | |
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent
+ Details
Name: |
us-gaap_InventoryDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
LEASEHOLD IMPROVEMENTS AND EQUIPMENT
|
6 Months Ended |
Jul. 01, 2023 |
Property, Plant and Equipment [Abstract] |
|
LEASEHOLD IMPROVEMENTS AND EQUIPMENT |
NOTE
5: LEASEHOLD IMPROVEMENTS AND EQUIPMENT
Leasehold
improvements and equipment consist of the following:
SUMMARY
OF LEASEHOLD IMPROVEMENTS AND EQUIPMENT
| |
July 1, 2023 | | |
December 31, 2022 | |
| |
(unaudited) | | |
| |
Computer equipment | |
$ | 120,459 | | |
$ | 117,841 | |
Furniture and fixtures | |
| 185,290 | | |
| 174,504 | |
Leasehold improvements | |
| 137,943 | | |
| 65,523 | |
Machinery and equipment | |
| 32,666 | | |
| 42,369 | |
Total cost | |
| 476,358 | | |
| 400,237 | |
Leasehold
improvements and equipment, gross | |
| 476,358 | | |
| 400,237 | |
Accumulated depreciation | |
| (355,393 | ) | |
| (332,280 | ) |
Leasehold improvements and equipment, net | |
$ | 120,965 | | |
$ | 67,957 | |
Depreciation
expense amounted to $12,426 and $6,654 for the 13 weeks ended July 1, 2023 and July 2, 2022, respectively.
Depreciation
expense amounted to $23,113 and $12,319 for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively.
|
X |
- References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
LEASES
|
6 Months Ended |
Jul. 01, 2023 |
Leases |
|
LEASES |
NOTE
6: LEASES
The
Company adopted the ASC 842 guidance on January 2, 2022, using the modified retrospective transition effective date method. As part of
that adoption, the Company has elected the package of three practical expedients, which includes the following: an entity may elect not
to reassess whether expired or existing contracts contain a lease under the revised definition of a lease; an entity may elect not to
reassess the lease classification for expired or existing leases; and an entity may elect not to reassess whether previously capitalized
initial direct costs would qualify for capitalization. The Company has elected not to utilize the hindsight expedient in determining
the lease term, and to not record leases with an initial term of 12 months or less on our condensed interim balance sheets. Additionally,
the Company has elected to account for lease components and non-lease components as a single lease component for all asset classes. Lease
expense is recognized over the expected term on a straight-line basis.
The
Company entered into a sub-lease agreement for warehouse space from a related party on April 1, 2021. The Company pays 33.3% of the related
party’s fixed monthly rent. The lease expires on September 30, 2023. As of July 1, 2023, the minimum lease payments amount to $63,702
for the year ending December 30, 2023.
As of July 1, 2023, the weighted average remaining lease term was 3.7 years
and weighted average incremental borrowing rate was 6.95%.
The
table below includes the balances of operating lease right-of-use assets and operating lease liabilities as of July 1, 2023:
SCHEDULE
OF OPERATING LEASE RIGHT OF USE OF ASSET AND LIABILITIES
| |
July 1, 2023 | |
Assets | |
| | |
Operating lease right-of-use assets, net | |
$ | 1,201,105 | |
| |
| | |
Liabilities | |
| | |
Operating lease liabilities – current | |
$ | 329,654 | |
Operating lease liabilities – non-current | |
| 925,014 | |
Total Lease Liabilities | |
$ | 1,254,668 | |
The
maturities of our operating lease liabilities as of July 1, 2023, are as follows:
SCHEDULE
OF MATURITIES OF LEASE LIABILITIES FOR OPERATING LEASES
Maturity of Operating Lease Liabilities | |
| |
2023 | |
$ | 233,652 | |
2024 | |
| 346,698 | |
2025 | |
| 357,099 | |
2026 | |
| 367,812 | |
2027 | |
| 123,806 | |
Total lease payments | |
| 1,429,067 | |
Less: imputed interest | |
| (174,399 | ) |
Present value of lease liabilities | |
$ | 1,254,668 | |
|
X |
- References
+ Details
Name: |
pik_DisclosureLeasesAbstract |
Namespace Prefix: |
pik_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for operating leases of lessee. Includes, but is not limited to, description of operating lease and maturity analysis of operating lease liability.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//842-20/tableOfContent
+ Details
Name: |
us-gaap_LesseeOperatingLeasesTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
RELATED PARTY TRANSACTIONS
|
6 Months Ended |
Jul. 01, 2023 |
Related Party Transactions [Abstract] |
|
RELATED PARTY TRANSACTIONS |
NOTE
7: RELATED PARTY TRANSACTIONS
In
the normal course of business, the Company made purchases from related parties for merchandise and shared services which amounted to
$9,447 and $80,398 for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively.
A
related party performs certain management services for the Company pursuant to a management services agreement. For these services, the
Company pays a monthly management fee equal to 0.75% of the Company’s net sales collections.
Management
fees amounted to $23,662 and $25,578 for the 13 weeks ended July 1, 2023 and July 2, 2022, respectively, and are included in general
and administrative expenses in the condensed interim statements of operations.
Management
fees amounted to $52,652 and $56,504 for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively, and are included in general
and administrative expenses in the condensed interim statements of operations.
In
addition, the Company is using a related party to run its Amazon Marketplace site.
The
consulting fees for this service amounted to $18,438 and $31,030 for the 13 weeks ended July 1, 2023 and July 2, 2022, respectively.
The consulting fees for this service amounted to $37,751 and $61,575 for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively,
The consulting fees for this service are included in general and administrative expenses in the condensed interim statements of operations.
The
Company entered into a new revocable monthly sub-lease agreement for office space from a related party on January 1, 2021. The Company
will pay 50% of the related party’s fixed monthly rent, including contingent rental expenses. On June 27, 2022, the parties signed
a new lease agreement with a third party.
For
the 13 and 26 weeks ended July 1, 2023 and July 2, 2022, related party office rent amounted to zero and $82,500, for both periods, respectively,
and is included in general and administrative expenses in the condensed interim statements of operations.
The
Company entered into a new sub-lease agreement for warehouse space from a related party on April 1, 2021. The Company will pay 33.3%
of the related party’s fixed monthly rent. The lease expires on September 30, 2023. The minimum lease payments amount to $191,106
for the year ending December 30, 2023.
As
of July 1, 2023 and December 31, 2022, there was $ and $ due to related party, respectively.
See
Note 8 for a description of short-term debt from affiliated entities under common control and from stockholders.
|
X |
- DefinitionThe entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-5
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-6
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(g)(3)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(e)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//850/tableOfContent
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-6
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-1
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 850 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-1
+ Details
Name: |
us-gaap_RelatedPartyTransactionsDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
SHORT-TERM DEBT
|
6 Months Ended |
Jul. 01, 2023 |
Debt Disclosure [Abstract] |
|
SHORT-TERM DEBT |
NOTE
8: SHORT-TERM DEBT
On
August 13, 2021, the Company entered into two unsecured convertible promissory notes with stockholders in the aggregate amount of $200,000.
Each of the convertible notes were payable on January 15, 2022 and were automatically convertible into shares of the Company’s
common stock at a conversion price equal to the per share price of the next equity funding completed by the Company in an amount of at
least $2,000,000 and requires the repayment of 110% of such convertible note amount upon a sale of the Company (including a change of
50% or more of the voting shares). On August 25, 2021, the parties agreed to amend the previously convertible notes to remove the conversion
rights provided for therein and clarify that no interest accrues on the convertible notes. On March 31, 2022, and effective on January
15, 2022, the parties amended the notes to be payable on demand.
In
September, October and November 2021, the Company borrowed $2,500,000 from a stockholder. The notes are unsecured, noninterest-bearing
and the principal was due on January 15, 2022, or was due at the rate of 110% of such note amount, upon a sale of the Company (including
a change of 50% or more of the voting shares). On December 27, 2021, the Company paid $500,000 of the outstanding loan amounts. On March
31, 2022, and effective on January 15, 2022, the parties amended the notes to be payable on demand. On July 2, 2022, the Company paid
$150,000 of the outstanding loan amounts.
|
X |
- References
+ Details
Name: |
us-gaap_DebtDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for short-term debt.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 470 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//470/tableOfContent
+ Details
Name: |
us-gaap_ShortTermDebtTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
NET LOSS PER COMMON SHARE
|
6 Months Ended |
Jul. 01, 2023 |
Earnings Per Share [Abstract] |
|
NET LOSS PER COMMON SHARE |
NOTE
9: NET LOSS PER COMMON SHARE
The
computation of basic net loss per share is based on the weighted average number of common shares outstanding for the 13 weeks ended July
1, 2023 and July 2, 2022. Diluted net loss per share
gives effect to stock options and restricted stock units using the treasury stock method, unless the impact is anti-dilutive.
Diluted net loss per share for the 13 weeks ended July 1, 2023 does
not include 250,000 stock options and 176,000 restricted stock units as their effect was anti-dilutive.
SCHEDULE
OF WEIGHTED AVERAGE NUMBER OF SHARES
| |
July
1, 2023 | | |
July
2, 2022 | | |
July
1, 2023 | | |
July
2, 2022 | |
| |
For the 13 weeks ended | | |
For the 26 weeks ended | |
| |
July
1, 2023 | | |
July
2, 2022 | | |
July
1, 2023 | | |
July
2, 2022 | |
Net loss | |
$ | (2,029,225 | ) | |
$ | (1,572,066 | ) | |
$ | (3,979,737 | ) | |
$ | (3,382,741 | ) |
Weighted Average Shares – Basic | |
| 7,731,195 | | |
| 7,636,493 | | |
| 7,709,695 | | |
| 7,655,359 | |
Dilutive effect of stock options and restricted stock units | |
| - | | |
| - | | |
| - | | |
| - | |
Weighted Average Shares – Diluted | |
| 7,731,195 | | |
| 7,636,493 | | |
| 7,709,695 | | |
| 7,655,359 | |
Basic net loss per share | |
| (0.26 | ) | |
| (0.21 | ) | |
| (0.52 | ) | |
| (0.44 | ) |
Diluted net loss per share | |
| (0.26 | ) | |
| (0.21 | ) | |
| (0.52 | ) | |
| (0.44 | ) |
|
X |
- References
+ Details
Name: |
us-gaap_EarningsPerShareAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for earnings per share.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//260/tableOfContent
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-3
+ Details
Name: |
us-gaap_EarningsPerShareTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
STOCKHOLDERS’ EQUITY
|
6 Months Ended |
Jul. 01, 2023 |
Equity [Abstract] |
|
STOCKHOLDERS’ EQUITY |
NOTE
10: STOCKHOLDERS’ EQUITY
On
May 10, 2021, the Company filed an amended and restated Certificate of Incorporation which authorized 75,000,000 shares of common stock
having a par value of $0.001 per share and 25,000,000 shares of preferred stock having a par value of $0.001 per share. All shares of
common stock shall be of the same class and have equal rights, powers and privileges. The preferred stock may be issued from time to
time in one or more series and each issued series may have full or limited designations, preferences, participating, special rights and
limitation as adopted by the Board of Directors. In conjunction with this amendment, the Company completed a forward split of existing
common stock whereby each one share of common stock was automatically split up and converted into 671 shares of common stock. The condensed
interim statements of changes in stockholders’ equity were restated to retroactively incorporate this stock split.
On
May 12, 2021, the Company and each then stockholder of the Company, other than one minority stockholder holding 147,620 shares or 2.7%
of the Company’s then outstanding common stock, entered into a Covenant Termination and Release Agreement, whereby each executing
stockholder, in consideration for $10, agreed to terminate any and all preemptive rights, anti-dilutive rights, tag-along, drag-along
or other special stockholder rights which they held as a result of the terms of any prior Investment Agreements or Conversion Agreements,
and release the Company from any and all liability or obligations in connection with any such special stockholder rights.
|
X |
- References
+ Details
Name: |
us-gaap_EquityAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure for equity.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (h) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 235 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481062/946-235-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-6
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480237/815-40-50-6
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(e)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//505/tableOfContent
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 14 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-14
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 16 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-16
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-18
+ Details
Name: |
us-gaap_StockholdersEquityNoteDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
EQUITY-BASED COMPENSATION
|
6 Months Ended |
Jul. 01, 2023 |
Share-Based Payment Arrangement [Abstract] |
|
EQUITY-BASED COMPENSATION |
NOTE
11: EQUITY-BASED COMPENSATION
On
May 9, 2021, the Board of Directors and majority stockholders adopted an Equity Incentive Plan which provides an opportunity for any
employee, officer, director or consultant of the Company to receive incentive stock options, nonqualified stock options, restricted stock,
stock awards, shares in performance of services or any combination of the foregoing.
On
September 30, 2021, the Board of Directors and majority stockholders of the Company amended and restated its 2021 Equity Incentive Plan
(as amended and restated, the “2021 Plan”). The 2021 Plan provides for the grant of incentive stock options, or ISOs, within
the meaning of Section 422 of the Internal Revenue Code, to our employees, and for the grant of nonstatutory stock options, or NSOs,
stock appreciation rights, restricted stock awards, restricted stock unit awards (RSU awards), performance awards and other forms of
awards to our employees, directors and consultants and any of our affiliates’ employees and consultants. A total of 2,600,000 shares
of the Company’s common stock were initially reserved for issuance under the 2021 Plan.
On
November 10, 2021, prior to the pricing of the Company’s initial public offering (the “IPO”), the Company granted (a)
options to purchase an aggregate of 480,000 shares of our common stock at an exercise price of $8.50 per share, to certain employees
and consultants of the Company in consideration for services rendered and to be rendered through May 2024; (b) 254,000 restricted stock
units, to certain executive officers; and (c) 10,000 restricted stock units (“RSUs”) to a board of director member. Such
options and restricted stock units vested (i) 1/3 on May 15, 2022; and (ii) 1/3 on May 15, 2023; and continue to vest (to the extent
not forfeited) 1/3 on May 15, 2024. The options each have a term of five years. On May 15, 2022, 88,000 restricted stock units were vested
of which 70,360 common stock shares were issued and 17,640 were forfeited and cancelled to settle tax liability on the vested shares.
On May 15, 2023, 87,999 restricted stock units were vested of which 81,523 common stock shares were issued and 6,476 were forfeited and
cancelled to settle tax liability on the vested shares.
In
determining the fair value of the stock-based awards, we used the Black-Scholes option-pricing model and assumptions discussed below.
Each of these inputs is subjective and generally requires significant judgment. Expected Term - The expected term represents the
period that our stock options are expected to be outstanding and is determined using the simplified method (generally calculated as the
mid-point between the vesting date and the end of the contractual term). Expected Volatility - The expected volatility was estimated
based on the average volatility for publicly-traded companies that we considered comparable, over a period equal to the expected term
of the stock option grants. Risk-Free Interest Rate - The risk-free interest rate is based on the U.S. Treasury zero coupon notes
in effect at the time of grant for periods corresponding with the expected term of the option. Expected Dividend - We have not
paid dividends on our common stock and do not anticipate paying dividends on our common stock; therefore, we use an expected dividend
yield of zero.
The
fair value of each option we issued on November 10, 2021 was $3.16. The weighted average assumptions used included a risk-free interest
rate of 0.88%, an expected stock price volatility factor of 52.4% and a dividend rate of 0%. The fair value of each restricted stock
unit (“RSU”) we issued on November 10, 2021 was $8.50.
A
summary of the Company’s time-based stock option activity under the 2021 Plan was as follows:
SCHEDULE
OF COMPANY’S TIME BASED STOCK OPTION ACTIVITY
| |
Number of Options | | |
Weighted Average Exercise Price | |
Unvested options as of December 31, 2022 | |
| 286,000 | | |
$ | 8.50 | |
Granted | |
| - | | |
| - | |
Vested | |
| - | | |
| - | |
Forfeited/Repurchased | |
| (36,000 | ) | |
| - | |
Unvested options as of July 1, 2023 | |
| 250,000 | | |
$ | 8.50 | |
As
of July 1, 2023, there was $1.0 million of total unrecognized compensation cost related to unvested options and RSUs granted under the
2021 Plan, which is expected to be recognized over a weighted average service period of 1.1 years. The Company records the impact of
any forfeitures of options as they occur.
Amortization
of this charge, which is included in non-cash compensation expense, for the 13 weeks and 26 weeks ended July 1, 2023, was $290,953 and
$558,429, respectively, and it is included as part of payroll expense.
|
X |
- DefinitionThe entire disclosure for share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//718/tableOfContent
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
RISK CONCENTRATION AND UNCERTAINTIES
|
6 Months Ended |
Jul. 01, 2023 |
Risks and Uncertainties [Abstract] |
|
RISK CONCENTRATION AND UNCERTAINTIES |
NOTE
12: RISK CONCENTRATION AND UNCERTAINTIES
The
Company uses various vendors for purchases of inventory. For the 13 weeks ended July 1, 2023, one vendor accounted for 100% of inventory
purchases. For the 13 weeks ended July 2, 2022, three vendors accounted for approximately 59.8% of inventory purchases. For the 26 weeks
ended July 1, 2023, one vendor accounted for 100% of inventory purchases. For the 26 weeks ended July 2, 2022, two vendors accounted
for approximately 51% of inventory purchases.
Concentrations
of credit risk with respect to accounts receivable are limited due to the large number of customers comprising the Company’s customer
base. In addition, the Company reviews receivables and recognizes bad debt on a monthly basis for accounts that are deemed uncollectible.
|
X |
- DefinitionThe entire disclosure for any concentrations existing at the date of the financial statements that make an entity vulnerable to a reasonably possible, near-term, severe impact. This disclosure informs financial statement users about the general nature of the risk associated with the concentration, and may indicate the percentage of concentration risk as of the balance sheet date.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 275 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//275/tableOfContent
+ Details
Name: |
us-gaap_ConcentrationRiskDisclosureTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_RisksAndUncertaintiesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
REVENUE, NET
|
6 Months Ended |
Jul. 01, 2023 |
Revenue from Contract with Customer [Abstract] |
|
REVENUE, NET |
NOTE
13: REVENUE, NET
SCHEDULE
OF REVENUES, NET
| |
July 1, 2023 | | |
July 2, 2022 | | |
July 1, 2023 | | |
July 2, 2022 | |
| |
For the 13 weeks ended | | |
For the 26 weeks ended | |
| |
July 1, 2023 | | |
July 2, 2022 | | |
July 1, 2023 | | |
July 2, 2022 | |
Subscription boxes | |
$ | 2,607,543 | | |
$ | 2,974,550 | | |
$ | 5,579,110 | | |
$ | 6,458,401 | |
3rd party websites | |
| 426,914 | | |
| 559,077 | | |
| 863,212 | | |
| 1,108,577 | |
Online website sales | |
| 414,462 | | |
| 241,041 | | |
| 1,036,075 | | |
| 533,687 | |
Total revenue | |
$ | 3,448,919 | | |
$ | 3,774,668 | | |
$ | 7,478,397 | | |
$ | 8,100,665 | |
|
X |
- References
+ Details
Name: |
us-gaap_RevenueFromContractWithCustomerAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent
+ Details
Name: |
us-gaap_RevenueFromContractWithCustomerTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
|
6 Months Ended |
Jul. 01, 2023 |
Accounting Policies [Abstract] |
|
Basis of accounting |
Basis
of accounting: The accompanying condensed interim financial statements have been prepared in accordance with generally accepted accounting
principles in the United States (“U.S. GAAP”), and the rules and regulations of the SEC that apply to interim financial statements
and with the instructions to Form 10-Q and of Regulation S-X. Accordingly, they do not include all of the information and footnotes normally
included in financial statements prepared in conformity with U.S. GAAP. They should be read in conjunction with the financial statements
and notes thereto included in the Company’s 2022 Annual Report on Form 10-K, filed with the SEC on March 31, 2023 (the “Form
10-K”).
The
accompanying condensed interim financial statements are unaudited and include all adjustments (consisting of normal recurring adjustments)
that management considers necessary for a fair presentation of its condensed interim financial position and results of operations for
the interim periods presented.
The
results of operations for the interim periods are not necessarily indicative of the results that may be expected for the entire year.
|
Fiscal year |
Fiscal
year: The Company uses a 52-53-week fiscal year ending on the Saturday nearest to December 31 each year. The quarters ended July
1, 2023 and July 2, 2022 consist of 13 weeks. These quarters are referred to herein as the second quarter of “2023” and “2022”,
respectively.
|
Use of estimates |
Use
of estimates: The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions
that affect the reporting values of assets and liabilities, disclosure of contingent assets and liabilities at the date of the condensed
interim financial statements, and the reported amounts of revenue and expenses during the reporting period. The more significant estimates
and assumptions are those used in determining the recoverability of long-lived assets and inventory obsolescence. Accordingly, actual
results could differ from those estimates.
|
Emerging growth company |
Emerging
growth company: The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified
by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from
various reporting requirements that are applicable to other public companies that are not emerging growth companies. Section 102(b)(1)
of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until
private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class
of securities registered under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) are required to comply
with the new or revised financial accounting standards.
In
June 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards
Update (“ASU”) 2016-13, Financial Instruments—Credit Losses, which replaces the incurred loss
impairment methodology for financial instruments in current U.S. GAAP with a methodology that reflects expected credit losses and requires
consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The FASB has issued ASU 2019-10,
which has resulted in the postponement of the effective date of the new guidance for eligible smaller reporting companies to the fiscal
year beginning January 1, 2023. The guidance must be adopted using a modified retrospective approach and a prospective transition approach
is required for debt securities for which an other-than-temporary impairment had been recognized before the effective date. The adoption
of this guidance did not have a material impact on the Company’s financial position, results of operations and related disclosures.
|
Concentration of credit risk |
Concentration
of credit risk: Our financial instruments that are exposed to concentrations of credit risk consist primarily of cash, restricted
cash and accounts receivable. We maintain our cash and restricted cash with high-quality financial institutions with investment-grade
ratings. Although the Company’s cash balance held with a U.S. bank may exceed the amount of federal insurance provided on such
deposits, the Company has not experienced any losses in such accounts. The Company is exposed to credit risk in the event of a default
by the financial institution holding its cash for the amount reflected on the balance sheets. A majority of the cash balances are with
U.S. banks and are insured to the extent defined by the Federal Deposit Insurance Corporation (“FDIC”).
|
Net loss per common share |
Net
loss per common share: The Company complies with
the accounting and disclosure requirements of FASB Accounting Standards Codification (“ASC”) Topic 260, Earnings Per Share.
Net loss per common share is computed by dividing net loss by the weighted average number of shares of common stock outstanding during
the period. Diluted earnings per share reflects the impact of stock options and restricted stock
units, if any, under the treasury stock method unless their impact is anti-dilutive.
|
Revenue recognition |
Revenue
recognition: The Company recognizes revenue from three sources; its subscription box sales, kidpik’s online website sales,
and 3rd party website sales. Revenue is gross billings net of promotional discounts, actual customer credits and refunds, as well as
customer credits and refunds expected to be issued, and sales tax. Customers are charged for subscription merchandise which is not returned,
or which is accepted, and are charged for general merchandise (non-subscription) when they purchase such merchandise. Customers can receive
a refund on returned merchandise for which return shipping is a cost to the Company.
Revenue
for subscription box sales is recognized when control of the promised goods is transferred and accepted by the subscriber. Subscribers
have a maximum of 10 days from the date the product is delivered to return any items in the pre-paid delivery bag. Control is transferred
either when a subscriber checks out or automatically ten days after the goods are delivered, whichever occurs first. Upon checkout or
the 10-day period, the amount of the order not returned is recognized as revenue. Payment is due upon checkout or the end of the 10-day
period after the goods are delivered, whichever occurs first. Between August 24, 2021 and January 6, 2022, we
charged new subscribers an upfront styling fee before the box was shipped that was credited toward items purchased. The styling fees
were included in deferred revenue until the time of client checkout or when the option to purchase the item expires.
Revenue
from online website sales, which includes sales from our and 3rd party websites (currently Amazon and Walmart), are recognized
when control of the promised goods are transferred to the Company’s customers, in an amount that depicts the consideration the
Company expects to be entitled to in exchange for those goods. Control is transferred at the time of shipment. Upon shipment, the total
amount of the order is recognized as revenue. Payment for online website sales is due upon time of order.
The
provision for anticipated sales returns consists of both contractual return rights and discretionary authorized returns.
Estimates
of discretionary authorized returns for sales other than subscription sales, discounts and claims are based on (1) historical rates,
(2) specific identification of outstanding returns not yet received from customers and outstanding discounts and claims and (3) estimated
returns, discounts and claims expected, but not yet finalized with customers. Actual returns, discounts and claims in any future period
are inherently uncertain and thus may differ from estimates recorded. If actual or expected future returns, discounts or claims were
significantly greater or lower than reserves established, a reduction or increase to net revenue would be recorded in the period in which
such determination was made.
Shipping
and handling costs associated with outbound freight fulfillment before control over a product has transferred to a customer are accounted
for as a shipping and handling cost in the condensed interim statements of operations.
Taxes
assessed by governmental authorities that are both imposed on and concurrent with a specific revenue producing transaction and are collected
by the Company from a customer are excluded from revenue and cost of goods sold in the condensed interim statements of operations.
|
Restricted cash |
Restricted
cash: Restricted cash balance consists of cash advances received by the Company from the cash advance agreement. The cash advances
can only be used for purchases of products and marketing related services necessary to operate the Company, as defined by the agreement.
|
Inventory |
Inventory:
Inventory, consisting primarily of finished goods, is valued at the lower of cost or net realizable value using the weighted average
cost method. In addition, the Company capitalizes freight, duty and other supply chain costs in inventory. These costs are included in
the cost of sales as inventory is sold.
|
Leasehold improvements and equipment |
Leasehold
improvements and equipment: Leasehold improvements and equipment are recorded at cost. Depreciation for equipment is computed using
the straight-line method over the estimated useful life of the assets ranging from three to five years. Leasehold improvements are amortized
over the shorter of the term of the lease or the life of the improvement on a straight-line method. Expenditures that extend the useful
lives of the equipment are capitalized. Expenditure for the repairs and maintenance are charged to expense as incurred. The gain or loss
arising on the disposal or retirement of an asset is determined as the difference between the sales proceeds and the carrying amount
of the asset and is recognized in operations.
|
Impairment of long-lived assets |
Impairment
of long-lived assets: The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate
that the carrying amount of an asset may not be recoverable. In performing a review for impairment, the Company compares the carrying
value of the assets with their estimated future undiscounted pre-tax cash flows. If it is determined that impairment has occurred, the
loss would be recognized during that period. The impairment loss is calculated as the difference between the assets’ carrying value
and the present value of estimated net cash flows or comparable market values, giving consideration to recent operating performance and
pricing trends. As a result of its review, the Company does not believe that any material impairment currently exists related to its
long-lived assets.
|
Deferred financing costs |
Deferred
financing costs: Deferred financing costs, net of accumulated amortization, are reported as a direct deduction from the face amount
of the line of credit to which such costs relate. Amortization of debt issuance costs is reported as a component of interest expenses
and is computed using the straight-line method over the term of the agreement, which approximates the effective interest method.
|
Income taxes |
Income
taxes: The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities
are recognized with respect to the future tax consequences attributable to differences between the tax bases of assets and liabilities
and their carrying amounts for financial statement purposes. Deferred tax assets and liabilities are measured using enacted tax rates
expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect
on deferred tax assets and liabilities of a change in tax rate is recognized in the period that includes the enactment date. Valuation
allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized.
The
Company applies U.S. GAAP accounting for uncertainty in income taxes. If the Company considers that a tax position is more likely than
not of being sustained upon audit, based solely on the technical merits of the position, it recognizes the tax benefit. The Company measures
the tax benefit by determining the amount that is greater than 50% likely of being realized upon settlement, presuming the tax position
is examined by the appropriate taxing authority that has full knowledge of relevant information.
The
Company has no unrecognized tax benefits at July 1, 2023 and December 31, 2022. The Company’s federal, state and local income tax
returns prior to fiscal year 2019 are closed and management continually evaluates expiring statutes of limitations, audits, proposed
settlements, changes in tax law and new authoritative rulings.
The
Company recognizes interest and penalties associated with tax matters, if any, as part of operating expenses and includes accrued interest
and penalties with accrued expenses in the condensed interim balance sheets.
|
Advertising costs |
Advertising
costs: Direct advertising and promotion costs are expensed as incurred. Advertising and promotion expenses totaled $938,639 and $583,747
for the 13 weeks ended July 1, 2023, and July 2, 2022, respectively. Advertising and promotion expenses totaled $1,840,742 and $1,302,128
for the 26 weeks ended July 1, 2023 and July 2, 2022, respectively. Advertising and promotion expenses are included in general and administrative
expenses in the condensed interim statements of operations.
|
Bad debt expense |
Bad
debt expense: Bad debt expense is recognized when a receivable is no longer collectible after a customer is unable to fulfill their
obligation to pay an outstanding balance.
|
Equity-based compensation |
Equity-based
compensation: The Company measures equity-based compensation expense associated with the awards granted based on their estimated
fair values at the grant date. For awards with service condition only, equity-based compensation expense is recognized over the requisite
service period using the straight-line method. The grant-date fair value of stock options is estimated using the Black-Scholes option
pricing model. Forfeitures are recorded as they occur. See Note 11, Equity-based compensation, for additional details.
|
Segment information |
Segment
information: The Company has one operating segment and one reportable segment as its chief operating decision maker, who is its Chief
Executive Officer, reviews financial information on a consolidated basis for purposes of allocating resources and evaluating financial
performance. All long-lived assets are located in the United States.
|
X |
- DefinitionBad Debt Expense Policy [Policy Text Block]
+ References
+ Details
Name: |
pik_BadDebtExpensePolicyPolicyTextBlock |
Namespace Prefix: |
pik_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEmerging Growth Company [Policy Text Block]
+ References
+ Details
Name: |
pik_EmergingGrowthCompanyPolicyTextBlock |
Namespace Prefix: |
pik_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_AccountingPoliciesAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for advertising cost.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -SubTopic 35 -Topic 720 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483406/720-35-50-1
+ Details
Name: |
us-gaap_AdvertisingCostsPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for basis of accounting, or basis of presentation, used to prepare the financial statements (for example, US Generally Accepted Accounting Principles, Other Comprehensive Basis of Accounting, IFRS).
+ References
+ Details
Name: |
us-gaap_BasisOfAccountingPolicyPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionEntity's cash and cash equivalents accounting policy with respect to restricted balances. Restrictions may include legally restricted deposits held as compensating balances against short-term borrowing arrangements, contracts entered into with others, or company statements of intention with regard to particular deposits; however, time deposits and short-term certificates of deposit are not generally included in legally restricted deposits.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(1)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482913/230-10-50-1
+ Details
Name: |
us-gaap_CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for salaries, bonuses, incentive awards, postretirement and postemployment benefits granted to employees, including equity-based arrangements; discloses methodologies for measurement, and the bases for recognizing related assets and liabilities and recognizing and reporting compensation expense.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b),(f(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_CompensationRelatedCostsPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for credit risk.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 825 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480981/942-825-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 10 -Topic 275 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-1
+ Details
Name: |
us-gaap_ConcentrationRiskCreditRisk |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for deferral and amortization of significant deferred charges.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(17)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_DeferredChargesPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for computing basic and diluted earnings or loss per share for each class of common stock and participating security. Addresses all significant policy factors, including any antidilutive items that have been excluded from the computation and takes into account stock dividends, splits and reverse splits that occur after the balance sheet date of the latest reporting period but before the issuance of the financial statements.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-2
+ Details
Name: |
us-gaap_EarningsPerSharePolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for determining an entity's fiscal year or other fiscal period. This disclosure may include identification of the fiscal period end-date, the length of the fiscal period, any reporting period lag between the entity and its subsidiaries, or equity investees. If a reporting lag exists, the closing date of the entity having a different period end is generally noted, along with an explanation of the necessity for using different closing dates. Any intervening events that materially affect the entity's financial position or results of operations are generally also disclosed.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 45 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481231/810-10-45-12
+ Details
Name: |
us-gaap_FiscalPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for recognizing and measuring the impairment of long-lived assets. An entity also may disclose its accounting policy for long-lived assets to be sold. This policy excludes goodwill and intangible assets.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.CC) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480091/360-10-S99-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 05 -Paragraph 4 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482338/360-10-05-4
+ Details
Name: |
us-gaap_ImpairmentOrDisposalOfLongLivedAssetsPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-03(h)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 17 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-17
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-9
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482525/740-10-45-25
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482525/740-10-45-28
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 19 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-19
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482765/220-10-50-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 740 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482685/740-10-50-20
+ Details
Name: |
us-gaap_IncomeTaxPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of inventory accounting policy for inventory classes, including, but not limited to, basis for determining inventory amounts, methods by which amounts are added and removed from inventory classes, loss recognition on impairment of inventories, and situations in which inventories are stated above cost.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483489/210-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483426/235-10-50-4
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 912 -SubTopic 330 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482105/912-330-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//330/tableOfContent
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483080/330-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 330 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483080/330-10-50-4
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 45 -Paragraph 6 -Subparagraph (a) -SubTopic 10 -Topic 270 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482989/270-10-45-6
+ Details
Name: |
us-gaap_InventoryPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for assessing and recognizing impairments of its property, plant and equipment.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-2
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentImpairment |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for revenue. Includes revenue from contract with customer and from other sources.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483426/235-10-50-4
Reference 3: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (e) -SubTopic 10 -Topic 235 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483426/235-10-50-4
+ Details
Name: |
us-gaap_RevenueRecognitionPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for segment reporting.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 47 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482785/280-10-55-47
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 29 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-29
+ Details
Name: |
us-gaap_SegmentReportingPolicyPolicyTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDisclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-9
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-4
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -SubTopic 10 -Topic 275 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -SubTopic 10 -Topic 275 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 11 -SubTopic 10 -Topic 275 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-11
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 12 -SubTopic 10 -Topic 275 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-12
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-8
+ Details
Name: |
us-gaap_UseOfEstimates |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
INVENTORY (Tables)
|
6 Months Ended |
Jul. 01, 2023 |
Inventory Disclosure [Abstract] |
|
SCHEDULE OF INVENTORIES |
Inventory
consists of the following:
SCHEDULE
OF INVENTORIES
| |
July 1, 2023 | | |
December 31, 2022 | |
| |
(unaudited) | | |
| |
Finished goods | |
$ | 9,755,705 | | |
$ | 12,625,948 | |
Total | |
$ | 9,755,705 | | |
$ | 12,625,948 | |
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of the carrying amount as of the balance sheet date of merchandise, goods, commodities, or supplies held for future sale or to be used in manufacturing, servicing or production process.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(c)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483489/210-10-50-1
+ Details
Name: |
us-gaap_ScheduleOfInventoryCurrentTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
LEASEHOLD IMPROVEMENTS AND EQUIPMENT (Tables)
|
6 Months Ended |
Jul. 01, 2023 |
Property, Plant and Equipment [Abstract] |
|
SUMMARY OF LEASEHOLD IMPROVEMENTS AND EQUIPMENT |
Leasehold
improvements and equipment consist of the following:
SUMMARY
OF LEASEHOLD IMPROVEMENTS AND EQUIPMENT
| |
July 1, 2023 | | |
December 31, 2022 | |
| |
(unaudited) | | |
| |
Computer equipment | |
$ | 120,459 | | |
$ | 117,841 | |
Furniture and fixtures | |
| 185,290 | | |
| 174,504 | |
Leasehold improvements | |
| 137,943 | | |
| 65,523 | |
Machinery and equipment | |
| 32,666 | | |
| 42,369 | |
Total cost | |
| 476,358 | | |
| 400,237 | |
Leasehold
improvements and equipment, gross | |
| 476,358 | | |
| 400,237 | |
Accumulated depreciation | |
| (355,393 | ) | |
| (332,280 | ) |
Leasehold improvements and equipment, net | |
$ | 120,965 | | |
$ | 67,957 | |
|
X |
- References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
LEASES (Tables)
|
6 Months Ended |
Jul. 01, 2023 |
Leases |
|
SCHEDULE OF OPERATING LEASE RIGHT OF USE OF ASSET AND LIABILITIES |
The
table below includes the balances of operating lease right-of-use assets and operating lease liabilities as of July 1, 2023:
SCHEDULE
OF OPERATING LEASE RIGHT OF USE OF ASSET AND LIABILITIES
| |
July 1, 2023 | |
Assets | |
| | |
Operating lease right-of-use assets, net | |
$ | 1,201,105 | |
| |
| | |
Liabilities | |
| | |
Operating lease liabilities – current | |
$ | 329,654 | |
Operating lease liabilities – non-current | |
| 925,014 | |
Total Lease Liabilities | |
$ | 1,254,668 | |
|
SCHEDULE OF MATURITIES OF LEASE LIABILITIES FOR OPERATING LEASES |
The
maturities of our operating lease liabilities as of July 1, 2023, are as follows:
SCHEDULE
OF MATURITIES OF LEASE LIABILITIES FOR OPERATING LEASES
Maturity of Operating Lease Liabilities | |
| |
2023 | |
$ | 233,652 | |
2024 | |
| 346,698 | |
2025 | |
| 357,099 | |
2026 | |
| 367,812 | |
2027 | |
| 123,806 | |
Total lease payments | |
| 1,429,067 | |
Less: imputed interest | |
| (174,399 | ) |
Present value of lease liabilities | |
$ | 1,254,668 | |
|
X |
- References
+ Details
Name: |
pik_DisclosureLeasesAbstract |
Namespace Prefix: |
pik_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of lessee's lease cost. Includes, but is not limited to, interest expense for finance lease, amortization of right-of-use asset for finance lease, operating lease cost, short-term lease cost, variable lease cost and sublease income.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4
+ Details
Name: |
us-gaap_LeaseCostTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
NET LOSS PER COMMON SHARE (Tables)
|
6 Months Ended |
Jul. 01, 2023 |
Earnings Per Share [Abstract] |
|
SCHEDULE OF WEIGHTED AVERAGE NUMBER OF SHARES |
SCHEDULE
OF WEIGHTED AVERAGE NUMBER OF SHARES
| |
July
1, 2023 | | |
July
2, 2022 | | |
July
1, 2023 | | |
July
2, 2022 | |
| |
For the 13 weeks ended | | |
For the 26 weeks ended | |
| |
July
1, 2023 | | |
July
2, 2022 | | |
July
1, 2023 | | |
July
2, 2022 | |
Net loss | |
$ | (2,029,225 | ) | |
$ | (1,572,066 | ) | |
$ | (3,979,737 | ) | |
$ | (3,382,741 | ) |
Weighted Average Shares – Basic | |
| 7,731,195 | | |
| 7,636,493 | | |
| 7,709,695 | | |
| 7,655,359 | |
Dilutive effect of stock options and restricted stock units | |
| - | | |
| - | | |
| - | | |
| - | |
Weighted Average Shares – Diluted | |
| 7,731,195 | | |
| 7,636,493 | | |
| 7,709,695 | | |
| 7,655,359 | |
Basic net loss per share | |
| (0.26 | ) | |
| (0.21 | ) | |
| (0.52 | ) | |
| (0.44 | ) |
Diluted net loss per share | |
| (0.26 | ) | |
| (0.21 | ) | |
| (0.52 | ) | |
| (0.44 | ) |
|
X |
- References
+ Details
Name: |
us-gaap_EarningsPerShareAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
+ Details
Name: |
us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
EQUITY-BASED COMPENSATION (Tables)
|
6 Months Ended |
Jul. 01, 2023 |
Share-Based Payment Arrangement [Abstract] |
|
SCHEDULE OF COMPANY’S TIME BASED STOCK OPTION ACTIVITY |
A
summary of the Company’s time-based stock option activity under the 2021 Plan was as follows:
SCHEDULE
OF COMPANY’S TIME BASED STOCK OPTION ACTIVITY
| |
Number of Options | | |
Weighted Average Exercise Price | |
Unvested options as of December 31, 2022 | |
| 286,000 | | |
$ | 8.50 | |
Granted | |
| - | | |
| - | |
Vested | |
| - | | |
| - | |
Forfeited/Repurchased | |
| (36,000 | ) | |
| - | |
Unvested options as of July 1, 2023 | |
| 250,000 | | |
$ | 8.50 | |
|
X |
- DefinitionTabular disclosure for stock option plans. Includes, but is not limited to, outstanding awards at beginning and end of year, grants, exercises, forfeitures, and weighted-average grant date fair value.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 718 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e) -SubTopic 10 -Topic 718 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ScheduleOfShareBasedCompensationStockOptionsActivityTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
REVENUE, NET (Tables)
|
6 Months Ended |
Jul. 01, 2023 |
Revenue from Contract with Customer [Abstract] |
|
SCHEDULE OF REVENUES, NET |
SCHEDULE
OF REVENUES, NET
| |
July 1, 2023 | | |
July 2, 2022 | | |
July 1, 2023 | | |
July 2, 2022 | |
| |
For the 13 weeks ended | | |
For the 26 weeks ended | |
| |
July 1, 2023 | | |
July 2, 2022 | | |
July 1, 2023 | | |
July 2, 2022 | |
Subscription boxes | |
$ | 2,607,543 | | |
$ | 2,974,550 | | |
$ | 5,579,110 | | |
$ | 6,458,401 | |
3rd party websites | |
| 426,914 | | |
| 559,077 | | |
| 863,212 | | |
| 1,108,577 | |
Online website sales | |
| 414,462 | | |
| 241,041 | | |
| 1,036,075 | | |
| 533,687 | |
Total revenue | |
$ | 3,448,919 | | |
$ | 3,774,668 | | |
$ | 7,478,397 | | |
$ | 8,100,665 | |
|
X |
- DefinitionTabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5
+ Details
Name: |
us-gaap_DisaggregationOfRevenueTableTextBlock |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:textBlockItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_RevenueFromContractWithCustomerAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)
|
3 Months Ended |
6 Months Ended |
Jul. 01, 2023
USD ($)
|
Jul. 02, 2022
USD ($)
|
Jul. 01, 2023
USD ($)
Segment
|
Jul. 02, 2022
USD ($)
|
Number of operating segment |
|
|
1
|
|
Number of reportable segment |
|
|
1
|
|
General and Administrative Expense [Member] |
|
|
|
|
Advertising and promotion expenses | $ |
$ 938,639
|
$ 583,747
|
$ 1,840,742
|
$ 1,302,128
|
X |
- DefinitionThe total expense recognized in the period for promotion, public relations, and brand or product advertising.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03.4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
+ Details
Name: |
us-gaap_MarketingAndAdvertisingExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionNumber of operating segments. An operating segment is a component of an enterprise: (a) that engages in business activities from which it may earn revenues and incur expenses (including revenues and expenses relating to transactions with other components of the same enterprise), (b) whose operating results are regularly reviewed by the enterprise's chief operating decision maker to make decisions about resources to be allocated to the segment and assess its performance, and (c) for which discrete financial information is available. An operating segment may engage in business activities for which it has yet to earn revenues, for example, start-up operations may be operating segments before earning revenues.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-18
+ Details
Name: |
us-gaap_NumberOfOperatingSegments |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:integerItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of segments reported by the entity. A reportable segment is a component of an entity for which there is an accounting requirement to report separate financial information on that component in the entity's financial statements.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-18
+ Details
Name: |
us-gaap_NumberOfReportableSegments |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:integerItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_IncomeStatementLocationAxis=us-gaap_GeneralAndAdministrativeExpenseMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.23.2
LIQUIDITY (Details Narrative) - USD ($)
|
6 Months Ended |
|
|
|
Jul. 01, 2023 |
Sep. 18, 2023 |
Mar. 22, 2023 |
Dec. 31, 2022 |
Accumulated deficit |
$ 45,514,182
|
|
|
$ 41,534,445
|
Closing bid price |
|
|
$ 1.00
|
|
Reverse stock split, description |
The Company also received stockholder approval
at its 2023 Annual Meeting of Stockholders held on June 19, 2023, of an amendment to the Company’s Second Amended and Restated
Certificate of Incorporation, to effect a reverse stock split of the Company’s issued and outstanding shares of common stock, by
a ratio of between one-for-five to one-for-twenty, inclusive, with the exact ratio to be set at a whole number to be determined by the
Company’s Board of Directors or a duly authorized committee thereof in its discretion, at any time prior to April 24, 2024.
|
|
|
|
Forecast [Member] |
|
|
|
|
Closing bid price |
|
$ 1.00
|
|
|
X |
- DefinitionAmount of accumulated undistributed earnings (deficit).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (g)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480016/944-40-65-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 2 -Subparagraph (h)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480016/944-40-65-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480990/946-20-50-11
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(23)(a)(4)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(17)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(30)(a)(3)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_RetainedEarningsAccumulatedDeficit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionPrice of a single share of a number of saleable stocks of a company.
+ References
+ Details
Name: |
us-gaap_SharePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionDescription of the reverse stock split arrangement. Also provide the retroactive effect given by the reverse split that occurs after the balance sheet date but before the release of financial statements.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 4 -Subparagraph (SAB Topic 4.C) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-4
+ Details
Name: |
us-gaap_StockholdersEquityReverseStockSplit |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
srt_StatementScenarioAxis=srt_ScenarioForecastMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.23.2
SCHEDULE OF INVENTORIES (Details) - USD ($)
|
Jul. 01, 2023 |
Dec. 31, 2022 |
Inventory Disclosure [Abstract] |
|
|
Finished goods |
$ 9,755,705
|
$ 12,625,948
|
Total |
$ 9,755,705
|
$ 12,625,948
|
X |
- References
+ Details
Name: |
us-gaap_InventoryDisclosureAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount before valuation and LIFO reserves of completed merchandise or goods expected to be sold within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)(a)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_InventoryFinishedGoods |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483467/210-10-45-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(6)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_InventoryNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.23.2
SUMMARY OF LEASEHOLD IMPROVEMENTS AND EQUIPMENT (Details) - USD ($)
|
Jul. 01, 2023 |
Dec. 31, 2022 |
Property, Plant and Equipment [Line Items] |
|
|
Leasehold improvements and equipment, gross |
$ 476,358
|
$ 400,237
|
Accumulated depreciation |
(355,393)
|
(332,280)
|
Leasehold improvements and equipment, net |
120,965
|
67,957
|
Computer Equipment [Member] |
|
|
Property, Plant and Equipment [Line Items] |
|
|
Leasehold improvements and equipment, gross |
120,459
|
117,841
|
Furniture and Fixtures [Member] |
|
|
Property, Plant and Equipment [Line Items] |
|
|
Leasehold improvements and equipment, gross |
185,290
|
174,504
|
Leasehold Improvements [Member] |
|
|
Property, Plant and Equipment [Line Items] |
|
|
Leasehold improvements and equipment, gross |
137,943
|
65,523
|
Machinery and Equipment [Member] |
|
|
Property, Plant and Equipment [Line Items] |
|
|
Leasehold improvements and equipment, gross |
$ 32,666
|
$ 42,369
|
X |
- DefinitionAmount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(8)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(14)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
+ Details
Name: |
us-gaap_AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(8)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(8)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 360 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480842/942-360-50-1
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentNet |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_ComputerEquipmentMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_FurnitureAndFixturesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_LeaseholdImprovementsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_PropertyPlantAndEquipmentByTypeAxis=us-gaap_MachineryAndEquipmentMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.23.2
X |
- DefinitionThe amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (b) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482099/360-10-50-1
+ Details
Name: |
us-gaap_Depreciation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_PropertyPlantAndEquipmentAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
SCHEDULE OF OPERATING LEASE RIGHT OF USE OF ASSET AND LIABILITIES (Details) - USD ($)
|
Jul. 01, 2023 |
Dec. 31, 2022 |
Leases |
|
|
Operating lease right-of-use assets, net |
$ 1,201,105
|
$ 1,469,665
|
Operating lease liabilities – current |
329,654
|
438,957
|
Operating lease liabilities – non-current |
925,014
|
$ 1,061,469
|
Total Lease Liabilities |
$ 1,254,668
|
|
X |
- References
+ Details
Name: |
pik_DisclosureLeasesAbstract |
Namespace Prefix: |
pik_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionPresent value of lessee's discounted obligation for lease payments from operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseLiability |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionPresent value of lessee's discounted obligation for lease payments from operating lease, classified as current.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseLiabilityCurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionPresent value of lessee's discounted obligation for lease payments from operating lease, classified as noncurrent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseLiabilityNoncurrent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's right to use underlying asset under operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseRightOfUseAsset |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
v3.23.2
SCHEDULE OF MATURITIES OF LEASE LIABILITIES FOR OPERATING LEASES (Details)
|
Jul. 01, 2023
USD ($)
|
Leases |
|
2023 |
$ 233,652
|
2024 |
346,698
|
2025 |
357,099
|
2026 |
367,812
|
2027 |
123,806
|
Total lease payments |
1,429,067
|
Less: imputed interest |
(174,399)
|
Present value of lease liabilities |
$ 1,254,668
|
X |
- References
+ Details
Name: |
pik_DisclosureLeasesAbstract |
Namespace Prefix: |
pik_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payment for operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payment for operating lease to be paid in next fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payment for operating lease to be paid in fourth fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearFour |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payment for operating lease to be paid in third fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearThree |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payment for operating lease to be paid in second fiscal year following current fiscal year. Excludes interim and annual periods when interim periods are reported from current statement of financial position date (rolling approach).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityPaymentsDueYearTwo |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payment for operating lease having initial or remaining lease term in excess of one year to be paid in remainder of current fiscal year.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payments in excess of discounted obligation for lease payments for operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityUndiscountedExcessAmount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionPresent value of lessee's discounted obligation for lease payments from operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 45 -Paragraph 1 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479041/842-20-45-1
+ Details
Name: |
us-gaap_OperatingLeaseLiability |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
v3.23.2
X |
- DefinitionMonthly rent payment percent.
+ References
+ Details
Name: |
pik_MonthlyRentPaymentPercentage |
Namespace Prefix: |
pik_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- References
+ Details
Name: |
pik_WeightedAverageIncrementalBorrowingRate |
Namespace Prefix: |
pik_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 808 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479402/808-10-50-1
+ Details
Name: |
us-gaap_CollaborativeArrangementsAndNoncollaborativeArrangementTransactionsLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionDate which lease or group of leases is set to expire, in YYYY-MM-DD format.
+ References
+ Details
Name: |
us-gaap_LeaseExpirationDate1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payment for operating lease.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityPaymentsDue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionWeighted average remaining lease term for operating lease, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 53 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479589/842-20-55-53
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (g)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-4
+ Details
Name: |
us-gaap_OperatingLeaseWeightedAverageRemainingLeaseTerm1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- Details
Name: |
us-gaap_TypeOfArrangementAxis=pik_SubLeaseAgreementMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_WarehouseMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_AwardDateAxis=pik_DecemberThirtyTwoThousandTwentyThreeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.23.2
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)
|
|
3 Months Ended |
6 Months Ended |
|
|
Apr. 01, 2021 |
Jul. 01, 2023 |
Jul. 02, 2022 |
Jul. 01, 2023 |
Jul. 02, 2022 |
Dec. 31, 2022 |
Jan. 01, 2021 |
Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
Purchases from related parties |
|
|
|
$ 9,447
|
$ 80,398
|
|
|
Management fee percent |
|
|
|
0.75%
|
|
|
|
Management fees |
|
$ 23,662
|
$ 25,578
|
$ 52,652
|
56,504
|
|
|
Consulting fees |
|
18,438
|
31,030
|
37,751
|
61,575
|
|
|
Operating leases rent expense sublease rentals percentage |
|
|
|
|
|
|
50.00%
|
Payments for rent |
|
0
|
$ 82,500
|
0
|
$ 82,500
|
|
|
Lease payments |
|
233,652
|
|
233,652
|
|
|
|
Related Party [Member] |
|
|
|
|
|
|
|
Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
Due to related parties |
|
1,538,902
|
|
1,538,902
|
|
$ 1,107,665
|
|
Sublease Agreement [Member] | December 30, 2023 [Member] |
|
|
|
|
|
|
|
Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
Lease payments |
|
$ 191,106
|
|
$ 191,106
|
|
|
|
Sublease Agreement [Member] | Warehouse [Member] |
|
|
|
|
|
|
|
Related Party Transaction [Line Items] |
|
|
|
|
|
|
|
Rent payments, percentage |
33.30%
|
|
|
|
|
|
|
Lease expiration date |
Sep. 30, 2023
|
|
|
|
|
|
|
X |
- DefinitionManagement Fee Percent Fee
+ References
+ Details
Name: |
pik_ManagementFeePercentFee |
Namespace Prefix: |
pik_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionMonthly rent payment percent.
+ References
+ Details
Name: |
pik_MonthlyRentPaymentPercentage |
Namespace Prefix: |
pik_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionOperating Leases Rent Expense Sublease Rentals Percentage
+ References
+ Details
Name: |
pik_OperatingLeasesRentExpenseSubleaseRentalsPercentage |
Namespace Prefix: |
pik_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionDate which lease or group of leases is set to expire, in YYYY-MM-DD format.
+ References
+ Details
Name: |
us-gaap_LeaseExpirationDate1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:dateItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount of lessee's undiscounted obligation for lease payment for operating lease having initial or remaining lease term in excess of one year to be paid in remainder of current fiscal year.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 842 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147478964/842-20-50-6
+ Details
Name: |
us-gaap_LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionAmount of expense for investment management fee, including, but not limited to, expense in connection with research, selection, supervision, and custody of investment.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-10
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section 45 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483581/946-220-45-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(2)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 850 -SubTopic 10 -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483326/850-10-50-1
+ Details
Name: |
us-gaap_ManagementFeeExpense |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionAmount of liabilities classified as other.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 12 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-12
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(12)(b)(2)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(12)(b)(3)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(15)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(12)(b)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03.15) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
+ Details
Name: |
us-gaap_OtherLiabilities |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionCash payments to lessor's for use of assets under operating leases.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 25 -Subparagraph (g) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-25
+ Details
Name: |
us-gaap_PaymentsForRent |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_TypeOfArrangementAxis=pik_SubLeaseAgreementMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_AwardDateAxis=pik_DecemberThirtyTwoThousandTwentyThreeMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis=srt_WarehouseMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.23.2
SHORT-TERM DEBT (Details Narrative) - USD ($)
|
|
|
|
3 Months Ended |
|
|
Jul. 02, 2022 |
Dec. 27, 2021 |
Aug. 13, 2021 |
Nov. 30, 2021 |
Oct. 31, 2021 |
Sep. 30, 2021 |
Short-Term Debt [Line Items] |
|
|
|
|
|
|
Repayment of borrowings |
$ 150,000
|
$ 500,000
|
|
|
|
|
Shareholder [Member] |
|
|
|
|
|
|
Short-Term Debt [Line Items] |
|
|
|
|
|
|
Short term borrowings |
|
|
|
$ 2,500,000
|
$ 2,500,000
|
$ 2,500,000
|
Debt instrument redemption price percentage |
|
|
|
110.00%
|
|
|
Equity investment ownership percentage |
|
|
|
50.00%
|
|
|
Two Unsecured Convertible Promissory Notes [Member] | Shareholder [Member] |
|
|
|
|
|
|
Short-Term Debt [Line Items] |
|
|
|
|
|
|
Debt face, amount |
|
|
$ 200,000
|
|
|
|
Debt description |
|
|
Each of the convertible notes were payable on January 15, 2022 and were automatically convertible into shares of the Company’s
common stock at a conversion price equal to the per share price of the next equity funding completed by the Company in an amount of at
least $2,000,000 and requires the repayment of 110% of such convertible note amount upon a sale of the Company (including a change of
50% or more of the voting shares). On August 25, 2021, the parties agreed to amend the previously convertible notes to remove the conversion
rights provided for therein and clarify that no interest accrues on the convertible notes. On March 31, 2022, and effective on January
15, 2022, the parties amended the notes to be payable on demand.
|
|
|
|
X |
- DefinitionIdentification of the lender and information about a contractual promise to repay a short-term or long-term obligation, which includes borrowings under lines of credit, notes payable, commercial paper, bonds payable, debentures, and other contractual obligations for payment. This may include rationale for entering into the arrangement, significant terms of the arrangement, which may include amount, repayment terms, priority, collateral required, debt covenants, borrowing capacity, call features, participation rights, conversion provisions, sinking-fund requirements, voting rights, basis for conversion if convertible and remarketing provisions. The description may be provided for individual debt instruments, rational groupings of debt instruments, or by debt in total.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(22)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(16)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-3
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 942 -SubTopic 470 -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480848/942-470-50-3
+ Details
Name: |
us-gaap_DebtInstrumentDescription |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFace (par) amount of debt instrument at time of issuance.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 835 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482900/835-30-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481139/470-20-50-1B
Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69B -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69B
Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 470 -SubTopic 20 -Name Accounting Standards Codification -Section 55 -Paragraph 69C -Publisher FASB -URI https://asc.fasb.org//1943274/2147481568/470-20-55-69C
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482925/835-30-45-2
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 835 -SubTopic 30 -Section 55 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482949/835-30-55-8
+ Details
Name: |
us-gaap_DebtInstrumentFaceAmount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionPercentage price of original principal amount of debt at which debt can be redeemed by the issuer.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph e -SubTopic 470 -Topic 942 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480848/942-470-50-3
+ Details
Name: |
us-gaap_DebtInstrumentRedemptionPricePercentage |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
+ Details
Name: |
us-gaap_EquityMethodInvestmentOwnershipPercentage |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe cash outflow for a borrowing having initial term of repayment within one year or the normal operating cycle, if longer.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 230 -SubTopic 10 -Section 45 -Paragraph 15 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-15
+ Details
Name: |
us-gaap_RepaymentsOfShortTermDebt |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionReflects the total carrying amount as of the balance sheet date of debt having initial terms less than one year or the normal operating cycle, if longer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 852 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481372/852-10-55-10
Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 944 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(16)(a)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479440/944-210-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(13)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479853/942-210-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(19)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_ShortTermBorrowings |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
instant |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_ShortTermDebtLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
srt_ScheduleOfEquityMethodInvestmentEquityMethodInvesteeNameAxis=pik_ShareholderMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_DebtInstrumentAxis=pik_TwoUnsecuredConvertiblePromissoryNotesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_TitleOfIndividualAxis=pik_ShareholderMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.23.2
SCHEDULE OF WEIGHTED AVERAGE NUMBER OF SHARES (Details) - USD ($)
|
3 Months Ended |
6 Months Ended |
Jul. 01, 2023 |
Apr. 01, 2023 |
Jul. 02, 2022 |
Apr. 02, 2022 |
Jul. 01, 2023 |
Jul. 02, 2022 |
Earnings Per Share [Abstract] |
|
|
|
|
|
|
Net loss |
$ (2,029,225)
|
$ (1,950,512)
|
$ (1,572,066)
|
$ (1,810,675)
|
$ (3,979,737)
|
$ (3,382,741)
|
Weighted Average Shares – Basic |
7,731,195
|
|
7,636,493
|
|
7,709,695
|
7,655,359
|
Dilutive effect of stock options and restricted stock units |
|
|
|
|
|
|
Weighted Average Shares – Diluted |
7,731,195
|
|
7,636,493
|
|
7,709,695
|
7,655,359
|
Basic net loss per share |
$ (0.26)
|
|
$ (0.21)
|
|
$ (0.52)
|
$ (0.44)
|
Diluted net loss per share |
$ (0.26)
|
|
$ (0.21)
|
|
$ (0.52)
|
$ (0.44)
|
X |
- DefinitionIncremental common shares attributable to stock options and restricted stock units.
+ References
+ Details
Name: |
pik_IncrementalCommonSharesAttributableToStockoptionsAndRestrictedStockUnits |
Namespace Prefix: |
pik_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- References
+ Details
Name: |
us-gaap_EarningsPerShareAbstract |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-15
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (e)(4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-7
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-10
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(25)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(27)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/exampleRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-52
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-7
+ Details
Name: |
us-gaap_EarningsPerShareBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-15
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (e)(4) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-7
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(25)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(27)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(23)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 15: http://www.xbrl.org/2003/role/exampleRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 52 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482635/260-10-55-52
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-7
+ Details
Name: |
us-gaap_EarningsPerShareDiluted |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe portion of profit or loss for the period, net of income taxes, which is attributable to the parent.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.4-08(g)(1)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480678/235-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481687/323-10-50-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 28 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-28
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482765/220-10-50-6
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-1
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 815 -SubTopic 40 -Name Accounting Standards Codification -Section 65 -Paragraph 1 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480175/815-40-65-1
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-8
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-9
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 11 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-11
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 250 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483443/250-10-50-4
Reference 13: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 830 -Name Accounting Standards Codification -Section 55 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480167/946-830-55-10
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section 45 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483581/946-220-45-7
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 944 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-04(18)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483586/944-220-S99-1
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-07(9)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-1
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(1)(d)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 20: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(ii)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1A -Subparagraph (SX 210.13-01(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1A
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(i)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(A)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iii)(B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(4)(iv)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 470 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1B -Subparagraph (SX 210.13-02(a)(5)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480097/470-10-S99-1B
Reference 29: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 30: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 31: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 60B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-60B
Reference 32: http://www.xbrl.org/2003/role/exampleRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31
Reference 33: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 34: http://www.xbrl.org/2003/role/disclosureRef -Topic 205 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org//1943274/2147483499/205-20-50-7
Reference 35: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 230 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
Reference 36: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1A -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1A
Reference 37: http://www.xbrl.org/2003/role/disclosureRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 1B -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482790/220-10-45-1B
Reference 38: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 220 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SX 210.5-03(20)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483621/220-10-S99-2
Reference 39: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-04(22)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483589/942-220-S99-1
+ Details
Name: |
us-gaap_NetIncomeLoss |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- DefinitionThe average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 16 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-16
+ Details
Name: |
us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482689/260-10-45-10
+ Details
Name: |
us-gaap_WeightedAverageNumberOfSharesOutstandingBasic |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
X |
- DefinitionSecurities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482662/260-10-50-1
+ Details
Name: |
us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
+ Details
Name: |
us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_EmployeeStockOptionMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareByAntidilutiveSecuritiesAxis=us-gaap_RestrictedStockUnitsRSUMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.23.2
STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)
|
May 12, 2021 |
May 10, 2021 |
Jul. 01, 2023 |
Dec. 31, 2022 |
Common stock, shares authorized |
|
75,000,000
|
75,000,000
|
75,000,000
|
Common stock, par value |
|
$ 0.001
|
$ 0.001
|
$ 0.001
|
Preferred stock, shares authorized |
|
25,000,000
|
25,000,000
|
25,000,000
|
Preferred stock, par value |
|
$ 0.001
|
$ 0.001
|
$ 0.001
|
Stock split shares |
|
671
|
|
|
One Minority Stockholder [Member] |
|
|
|
|
Investment owned balance shares |
147,620
|
|
|
|
Holding percentage |
2.70%
|
|
|
|
Noncontrolling interest decrease from deconsolidation |
$ 10
|
|
|
|
X |
- DefinitionFace amount or stated value per share of common stock.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of common shares permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of shares of investment owned.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480524/946-210-50-6
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 55 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480493/946-210-55-1
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480524/946-210-50-1
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-12(Column B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-1
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-12B(Column B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-3
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 6 -Subparagraph (SX 210.12-14(Column B)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480032/946-320-S99-6
+ Details
Name: |
us-gaap_InvestmentOwnedBalanceShares |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe equity interest of noncontrolling shareholders, partners or other equity holders in consolidated entity.
+ References
+ Details
Name: |
us-gaap_MinorityInterestOwnershipPercentageByNoncontrollingOwners |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe amount of the reduction or elimination during the period of a noncontrolling interest resulting from the parent's loss of control and deconsolidation of the entity in which one or more outside parties had a noncontrolling interest.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section S99 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1A -Subparagraph (c)(2) -SubTopic 10 -Topic 810 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481203/810-10-50-1A
+ Details
Name: |
us-gaap_NoncontrollingInterestDecreaseFromDeconsolidation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionFace amount or stated value per share of preferred stock nonredeemable or redeemable solely at the option of the issuer.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-13
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockParOrStatedValuePerShare |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionThe maximum number of nonredeemable preferred shares (or preferred stock redeemable solely at the option of the issuer) permitted to be issued by an entity's charter and bylaws.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 210 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.6-04(16)(a)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479617/946-210-S99-1
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_PreferredStockSharesAuthorized |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionNumber of shares issued during the period as a result of a stock split.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesStockSplits |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
srt_OwnershipAxis=pik_OneMinorityStockholderMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.23.2
SCHEDULE OF COMPANY’S TIME BASED STOCK OPTION ACTIVITY (Details)
|
6 Months Ended |
Jul. 01, 2023
$ / shares
shares
|
Share-Based Payment Arrangement [Abstract] |
|
Number of Options Unvested, Balance | shares |
286,000
|
Weighted Average Exercise Price Balance | $ / shares |
$ 8.50
|
Number of Options, Granted | shares |
|
Weighted Average Exercise Price, Granted | $ / shares |
|
Number of Options, Vested | shares |
|
Weighted Average Exercise Price, Vested | $ / shares |
|
Number of Options, Forfeited/Repurchased | shares |
(36,000)
|
Weighted Average Exercise Price, Forfeited/Repurchased | $ / shares |
|
Number of Options Unvested, Balance | shares |
250,000
|
Weighted Average Exercise Price Balance | $ / shares |
$ 8.50
|
X |
- DefinitionFor presentations that combine terminations, the number of shares under options that were cancelled during the reporting period as a result of occurrence of a terminating event specified in contractual agreements pertaining to the stock option plan or that expired.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionGross number of share options (or share units) granted during the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(01) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of options outstanding, including both vested and non-vested options.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionWeighted average price at which grantees can acquire the shares reserved for issuance under the stock option plan.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionWeighted average price at which grantees could have acquired the underlying shares with respect to stock options that were terminated.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(03) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average per share amount at which grantees can acquire shares of common stock by exercise of options.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(01) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of options vested.
+ References
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average grant-date fair value of options vested.
+ References
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedWeightedAverageGrantDateFairValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
v3.23.2
EQUITY-BASED COMPENSATION (Details Narrative) - USD ($)
|
|
|
|
3 Months Ended |
6 Months Ended |
|
May 15, 2023 |
May 15, 2022 |
Nov. 10, 2021 |
Jul. 01, 2023 |
Apr. 01, 2023 |
Jul. 02, 2022 |
Apr. 02, 2022 |
Jul. 01, 2023 |
Jul. 02, 2022 |
Sep. 30, 2021 |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
|
|
|
|
|
|
|
Exercise price per share |
|
|
|
|
|
|
|
|
|
|
Shares vested |
|
|
|
|
|
|
|
|
|
|
Fair value of option issued per share |
|
|
$ 3.16
|
|
|
|
|
|
|
|
Risk free interest rate |
|
|
0.88%
|
|
|
|
|
|
|
|
Expected stock price volatility |
|
|
52.40%
|
|
|
|
|
|
|
|
Dividend rate |
|
|
0.00%
|
|
|
|
|
|
|
|
Unrecognized compensation cost |
|
|
|
$ 1,000,000.0
|
|
|
|
$ 1,000,000.0
|
|
|
Stock option weighted average term |
|
|
|
|
|
|
|
1 year 1 month 6 days
|
|
|
Non-cash compensation expense |
|
|
|
$ 290,953
|
$ 267,476
|
$ 433,924
|
$ 617,164
|
$ 558,429
|
$ 1,051,088
|
|
Restricted Stock Units (RSUs) [Member] |
|
|
|
|
|
|
|
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
|
|
|
|
|
|
|
Fair value of option issued per share |
|
|
$ 8.50
|
|
|
|
|
|
|
|
Restricted Stock [Member] |
|
|
|
|
|
|
|
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
|
|
|
|
|
|
|
Shares vested |
87,999
|
88,000
|
|
|
|
|
|
|
|
|
Shares issued, shares |
81,523
|
70,360
|
|
|
|
|
|
|
|
|
Stock issued, restricted stock award shares, forfeited |
6,476
|
17,640
|
|
|
|
|
|
|
|
|
IPO [Member] |
|
|
|
|
|
|
|
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
|
|
|
|
|
|
|
Option to purchase common stock |
|
|
480,000
|
|
|
|
|
|
|
|
Exercise price per share |
|
|
$ 8.50
|
|
|
|
|
|
|
|
Options, term |
|
|
5 years
|
|
|
|
|
|
|
|
IPO [Member] | Executive Officer [Member] | Restricted Stock Units (RSUs) [Member] |
|
|
|
|
|
|
|
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
|
|
|
|
|
|
|
Number of shares granted |
|
|
254,000
|
|
|
|
|
|
|
|
IPO [Member] | Board of Directors [Member] | Restricted Stock Units (RSUs) [Member] |
|
|
|
|
|
|
|
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
|
|
|
|
|
|
|
Number of shares granted |
|
|
10,000
|
|
|
|
|
|
|
|
2021 Equity Incentive Plan [Member] |
|
|
|
|
|
|
|
|
|
|
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] |
|
|
|
|
|
|
|
|
|
|
Common shares reserved for issuance |
|
|
|
|
|
|
|
|
|
2,600,000
|
X |
- DefinitionAggregate number of common shares reserved for future issuance.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.29) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_CommonStockCapitalSharesReservedForFutureIssuance |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
instant |
|
X |
- DefinitionAmount of cost to be recognized for option under share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedStockOptions |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
instant |
|
X |
- DefinitionAmount of noncash expense for share-based payment arrangement.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 45 -Paragraph 28 -Subparagraph (a) -SubTopic 10 -Topic 230 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482740/230-10-45-28
+ Details
Name: |
us-gaap_ShareBasedCompensation |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
debit |
Period Type: |
duration |
|
X |
- DefinitionThe number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan).
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(01) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average remaining contractual term for equity-based awards excluding options, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe estimated dividend rate (a percentage of the share price) to be paid (expected dividends) to holders of the underlying shares over the option's term.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe estimated measure of the percentage by which a share price is expected to fluctuate during a period. Volatility also may be defined as a probability-weighted measure of the dispersion of returns about the mean. The volatility of a share price is the standard deviation of the continuously compounded rates of return on the share over a specified period. That is the same as the standard deviation of the differences in the natural logarithms of the stock prices plus dividends, if any, over the period.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe risk-free interest rate assumption that is used in valuing an option on its own shares.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iv) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 35 -Paragraph 1D -Publisher FASB -URI https://asc.fasb.org//1943274/2147480483/718-10-35-1D
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 35 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480483/718-10-35-3
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(01) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(02) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(03) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 15: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 16: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 17: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(01) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 18: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(02) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 19: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(2)(iii)(03) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 20: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 21: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 22: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 23: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (e)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 24: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(i) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 25: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(ii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 26: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iii) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 27: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(iv) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
Reference 28: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f)(2)(v) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionThe weighted average grant-date fair value of options granted during the reporting period as calculated by applying the disclosed option pricing methodology.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d)(1) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of shares purchased for issuance under share-based payment arrangement.
+ ReferencesReference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (l) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementByShareBasedPaymentAwardSharesPurchasedForAward |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average per share amount at which grantees can acquire shares of common stock by exercise of options.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 718 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c)(1)(iv)(01) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:perShareItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionWeighted average remaining contractual term for option awards outstanding, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 718 -SubTopic 10 -Subparagraph (e)(1) -Name Accounting Standards Codification -Paragraph 2 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480429/718-10-50-2
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:durationItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of options vested.
+ References
+ Details
Name: |
us-gaap_SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedNumberOfShares |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of new stock issued during the period.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 505 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481004/946-505-50-2
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 220 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-09(4)(b)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147483575/946-220-S99-3
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 946 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.6-03(i)(1)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479886/946-10-S99-3
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesNewIssues |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionNumber of shares related to Restricted Stock Award forfeited during the period.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardForfeited |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionTotal number of shares issued during the period, including shares forfeited, as a result of Restricted Stock Awards.
+ ReferencesReference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -SubTopic 10 -Topic 505 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481112/505-10-50-2
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480008/505-10-S99-1
+ Details
Name: |
us-gaap_StockIssuedDuringPeriodSharesRestrictedStockAwardGross |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:sharesItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_AwardTypeAxis=us-gaap_RestrictedStockUnitsRSUMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_AwardTypeAxis=us-gaap_RestrictedStockMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_SubsidiarySaleOfStockAxis=us-gaap_IPOMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_TitleOfIndividualAxis=srt_ExecutiveOfficerMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_TitleOfIndividualAxis=pik_BoardOfDirectorsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_PlanNameAxis=pik_TwoThousandTwentyOneEquityIncentivePlanMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.23.2
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 954 -SubTopic 310 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481027/954-310-50-2
+ Details
Name: |
us-gaap_ConcentrationRiskLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionFor an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42
Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-21
Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482907/825-10-50-20
Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-18
Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482861/275-10-50-20
+ Details
Name: |
us-gaap_ConcentrationRiskPercentage1 |
Namespace Prefix: |
us-gaap_ |
Data Type: |
dtr-types:percentItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByBenchmarkAxis=pik_InventoryPurchasesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
us-gaap_ConcentrationRiskByTypeAxis=us-gaap_SupplierConcentrationRiskMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=pik_OneVendorMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=pik_ThreeVendorsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_MajorCustomersAxis=pik_TwoVendorsMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
v3.23.2
SCHEDULE OF REVENUES, NET (Details) - USD ($)
|
3 Months Ended |
6 Months Ended |
Jul. 01, 2023 |
Jul. 02, 2022 |
Jul. 01, 2023 |
Jul. 02, 2022 |
Disaggregation of Revenue [Line Items] |
|
|
|
|
Total revenue |
$ 3,448,919
|
$ 3,774,668
|
$ 7,478,397
|
$ 8,100,665
|
Subscription Boxes [Member] |
|
|
|
|
Disaggregation of Revenue [Line Items] |
|
|
|
|
Total revenue |
2,607,543
|
2,974,550
|
5,579,110
|
6,458,401
|
3rd Party Websites [Member] |
|
|
|
|
Disaggregation of Revenue [Line Items] |
|
|
|
|
Total revenue |
426,914
|
559,077
|
863,212
|
1,108,577
|
Online Website Sales [Member] |
|
|
|
|
Disaggregation of Revenue [Line Items] |
|
|
|
|
Total revenue |
$ 414,462
|
$ 241,041
|
$ 1,036,075
|
$ 533,687
|
X |
- DefinitionLine items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5
Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 91 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479777/606-10-55-91
Reference 3: http://www.xbrl.org/2003/role/exampleRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 91 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479777/606-10-55-91
Reference 4: http://www.xbrl.org/2003/role/exampleRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 91 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479777/606-10-55-91
Reference 5: http://www.xbrl.org/2003/role/exampleRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 91 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479777/606-10-55-91
Reference 6: http://www.xbrl.org/2003/role/exampleRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 91 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479777/606-10-55-91
Reference 7: http://www.xbrl.org/2003/role/exampleRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 91 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479777/606-10-55-91
Reference 8: http://www.xbrl.org/2003/role/exampleRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 91 -Subparagraph (g) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479777/606-10-55-91
+ Details
Name: |
us-gaap_DisaggregationOfRevenueLineItems |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:stringItemType |
Balance Type: |
na |
Period Type: |
duration |
|
X |
- DefinitionAmount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.
+ ReferencesReference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 924 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SAB Topic 11.L) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479941/924-10-S99-1
Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-5
Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 30 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-30
Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42
Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40
Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22
Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32
Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41
Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 4 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-4
+ Details
Name: |
us-gaap_RevenueFromContractWithCustomerExcludingAssessedTax |
Namespace Prefix: |
us-gaap_ |
Data Type: |
xbrli:monetaryItemType |
Balance Type: |
credit |
Period Type: |
duration |
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=pik_SubscriptionBoxesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=pik_ThirdPartyWebsitesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
X |
- Details
Name: |
srt_ProductOrServiceAxis=pik_OnlineWebsiteSalesMember |
Namespace Prefix: |
|
Data Type: |
na |
Balance Type: |
|
Period Type: |
|
|
Kidpik (NASDAQ:PIK)
Historical Stock Chart
From Sep 2024 to Oct 2024
Kidpik (NASDAQ:PIK)
Historical Stock Chart
From Oct 2023 to Oct 2024