0001437749-24-027942 | 10-K | XBRL Viewer

Note 7 - Intangible Assets, Net and Goodwill (Tables)

12 Months Ended

Dec. 31, 2023

Schedule of Finite-Lived Intangible Assets [Table Text Block]

	December 31,
	2023			2022
Amortizable intangible assets:
Patents	$	873		$	575
Trademarks		248			150
Purchased software and technology		1,752			1,962
Customer Relationship		160			-
		3,033			2,687
Accumulated amortization		(806	)		(462	)
Total amortizable		2,227			2,225
Indefinite life assets (non-amortizable)		421			344
Total intangible assets, net	$	2,648		$	2,569

Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]

2024	$	427
2025		422
2026		335
2027		185
2028		185
Thereafter		673
Total estimated amortization expense	$	2,227

Schedule of Goodwill [Table Text Block]

Balance at January 1, 2023	$	-
Acquired goodwill		1,610
Balance at December 31, 2023	$	1,610

- Definition

Tabular disclosure of goodwill by reportable segment and in total which includes a rollforward schedule.

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+ Details

Note 11 - Debt

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Debt Disclosure [Text Block]

11.

DEBT

The Company’s debt at December 31, 2023 and 2022 included operating lease liabilities (see Note 9).

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

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+ Details

Note 4 - Financial Instruments - Instruments by Significant Investment Category (Details) - Fair Value, Inputs, Level 1 [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Adjusted cost	$ 9,293	$ 16,853
Unrealized gains	0	100
Unrealized losses	0	0
Market value	9,293	16,953
Money Market Funds [Member]
Adjusted cost	1,793	3,004
Unrealized gains	0	0
Unrealized losses	0	0
Market value	1,793	3,004
US Treasury Securities Considered Cash Equivalents [Member]
Adjusted cost		9,849
Unrealized gains		100
Unrealized losses		0
Market value		9,949
Certificates of Deposit [Member]
Adjusted cost	7,500	4,000
Unrealized gains	0	0
Unrealized losses	0	0
Market value	$ 7,500	$ 4,000

Note 1 - Organization and Summary of Significant Accounting Policies

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block]

1.	ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Organization and Business Description

Wrap Technologies, Inc., a Delaware corporation (the “Company”, “we”, “us”, and “our”), is a publicly traded company with its common stock, par value $0.0001 per share (“Common Stock”), listed on the Nasdaq Capital Market (“Nasdaq”) under the trading symbol “WRAP”. The Company is a developer and supplier of public safety products and training services for law enforcement and security personnel. The Company’s primary product is the BolaWrap® remote restraint device. The principal markets for the Company’s proprietary products and services are in North and South America, Europe, Middle East and Asia.

Principles of Consolidation

The Company has two wholly owned subsidiaries, Wrap Reality, Inc., an Arizona corporation, formed in December 2020 that sells a virtual reality (“VR”) training system primarily targeting law enforcement agencies and Intrensic, LLC, which the Company acquired in August 2023, which specializes in Body Worn Camera and Digital Evidence Management solutions. The consolidated financial statements include the accounts of these subsidiaries after elimination of intercompany transactions and accounts.

Basis of Presentation and Use of Estimates

The accompanying financial statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions (e.g., share-based compensation valuation, allowance for doubtful accounts, valuation of inventory and intangible assets, warranty reserve, accrued costs, valuation allowance related to deferred tax assets and recognition and measurement of contingencies) that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates.

Concentrations of Risk

Credit Risk – Financial instruments that potentially subject the Company to concentration of credit risk consisted primarily of cash, cash equivalents, US treasury bills and accounts receivable from customers. The Company maintains its cash and cash equivalent deposits at two domestic financial institutions. The Company is exposed to credit risk in the event of default by a financial institution to the extent that cash and cash equivalents are in excess of the amount insured by the Federal Deposit Insurance Corporation. The Company places its cash and cash equivalents with high-credit quality financial institutions and are managed within established guidelines to mitigate risks. To date, the Company has not experienced any losses on its cash and cash equivalents.

Concentrations of Accounts Receivable and Revenue – The Company has a limited number of domestic and international customers. The Company may experience concentrations in both accounts receivable and revenue due to the timing of sales and collections of related payments (see Note 18).

Concentration of Suppliers – The Company assembles its BolaWrap products in-house using components and subassemblies from a limited number of suppliers and contract suppliers. In particular, a single supplier is currently the sole manufacturer of the BolaWrap battery assembly, and another single supplier is the sole manufacturer of the propulsion component for BolaWrap cassettes. Other parts are solely sourced from other suppliers. If supplier shortages or logistic delays occur, or quality problems arise, production schedules could be significantly delayed or costs significantly increased, which could in turn have a material adverse effect on the Company’s financial condition, results of operation and cash flows.

Cash and Cash Equivalents

The Company considers all highly liquid investments purchased with original maturities of three months or less from the purchase date to be cash equivalents. Cash equivalents consist primarily of amounts invested in Money Market Funds and US (“US”) Treasury bills and are stated at fair value.

Short-Term Investments

The Company’s short-term investments consist of certificates of deposits and US Treasury bills with original maturities beyond three months at the date of purchase and one year or less from the balance sheet date. As of December 31, 2023, all of the Company’s short-term investments were classified as available-for-sale and are carried at estimated fair value with any unrealized gains and losses, unrelated to credit loss factors, included in other comprehensive income in our consolidated statements of stockholders’ equity.

Share-Based Compensation

The Company follows the fair value recognition provisions issued by the FASB in ASC Topic 718, Stock Compensation (“ASC 718”) and has adopted Accounting Standards Update (“ASU”) 2018-07 for share-based transactions with non-employees. Share-based compensation expense recognized during 2023 and 2022 includes stock option and restricted stock unit compensation expense. The grant date fair value of stock options is determined using the Black-Scholes option-pricing model. The grant date is the date at which an employer and employee or non-employee reach a mutual understanding of the key terms and conditions of a share-based payment award and approved by the Company’s Board of Directors. The Black-Scholes option-pricing model requires inputs including the market price of the Company’s Common Stock on the date of grant, the term that the stock options are expected to be outstanding, the implied stock volatilities of several publicly traded peers over the expected term of stock options, risk-free interest rate and expected dividend. Each of these inputs is subjective and generally requires significant judgment to determine. The grant date fair value of restricted stock units is based upon the market price of the Company’s Common Stock on the date of the grant. We determine the amount of share-based compensation expense based on awards that we ultimately expect to vest and account for forfeitures as they occur. The fair value of share-based compensation is amortized to compensation expense over the vesting term.

Loss per Share

Basic loss per share (EPS) is computed by dividing net loss, less any dividends, accretion or decretion, redemption or induced conversion, if any, on our Series A Convertible Preferred Stock, by the weighted average number of shares outstanding during the reported period.

In computing diluted EPS, we adjust the numerator used in the basic EPS computation, subject to anti-dilution requirements, to add back the dividends (declared or cumulative undeclared) applicable to the Series A Convertible Preferred Stock. Such add-back would also include any adjustments to equity in the period to accrete the Series A Convertible Preferred Stock to its redemption price, or recorded upon a redemption or induced conversion, if any. We adjust the denominator used in the basic EPS computation, subject to anti-dilution requirements, to include the dilution from potential shares resulting from the issuance of the Series A Convertible Preferred Stock, restricted stock units, and stock options. Stock options and restricted stock units exercisable or issuable for a total of 5,468,223 and 6,413,731 shares of Common Stock were outstanding at December 31, 2023 and 2022, respectively. These securities are not included in the computation of diluted net loss per common share for the periods presented as their inclusion would be antidilutive due to losses incurred by the Company.

Accounts Receivable and Allowance for Credit Losses

ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) requires that financial assets measured at amortized cost be presented at the net amount expected to be collected. The expected credit losses are developed using an estimated loss rate method that considers historical collection experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The estimated loss rates are applied to accounts receivables with similar risk characteristics such as the length of time the balance has been outstanding and the location of the customer. In certain instances, the Company may identify individual accounts receivable assets that do not share risk characteristics with other accounts receivables, in which case the Company records its expected credit losses on an individual asset basis. If an accounts receivable asset is evaluated on an individual basis, the Company excludes those assets from the portfolios of accounts receivables evaluated on a collective basis.

At December 31, 2023 and 2022, the Company had an allowance for credit losses related to accounts receivable of $386 and $205, respectively. If a major customer’s creditworthiness deteriorates, or actual defaults exceed our historical experience, such estimates could change and impact our future reported financial results.

Inventories

Inventories are valued at the lower of cost or net realizable value. The cost of substantially all the Company’s inventory is determined by the FIFO cost method. Inventory is comprised of raw materials, assemblies and finished products intended for sale to customers. The Company evaluates the need for reserves for excess and obsolete inventories determined primarily based upon estimates of future demand for the Company’s products.

As of December 31, 2023 and 2022 the Company had $465 and $0 reserves, respectively for obsolescence.

Property, Equipment and Depreciation

Property and equipment is stated at cost. Depreciation on property and equipment is computed over the estimated useful lives of three years using the straight-line method. On any retirement or disposition of property and equipment, the related cost and accumulated depreciation or amortization is removed, and a gain or loss recorded.

Business Combinations

The Company accounts for its business combinations under the provisions of Accounting Standards Codification ("ASC") Topic 805-10, Business Combinations ("ASC 805-10"), which requires that the purchase method of accounting be used for all business combinations. Assets acquired and liabilities assumed, including non-controlling interests, are recorded at the date of acquisition at their respective fair values. The estimated fair value of net assets acquired, including the allocation of the fair value to identifiable assets and liabilities, was determined using established valuation techniques. ASC 805-10 also specifies criteria that intangible assets acquired in a business combination must meet to be recognized and reported apart from goodwill. Goodwill represents the excess purchase price over the fair value of the tangible net assets and intangible assets acquired in a business combination. Acquisition-related expenses are recognized separately from the business combinations and are expensed as incurred.

The estimated fair value of the acquired intangible assets was determined using a method which reflects the present value of the operating cash flows generated by this asset after taking into account the cost to realize the revenue, and an appropriate discount rate to reflect the time value and risk associated with the invested capital.

Certain adjustments to the assessed fair values of the assets and liabilities made subsequent to the acquisition date, but within the measurement period, which is up to one year, are recorded as adjustments to goodwill. Any adjustments subsequent to the measurement period are recorded in income.

Goodwill

Goodwill represents the difference, if any, between the aggregate consideration paid for an acquisition and the fair values of the underlying net assets and liabilities assumed from an acquired business. Goodwill is not amortized, but instead is tested for impairment. The Company tests goodwill for impairment on an annual basis during the fourth quarter, or more frequently if conditions indicate that such impairment could exist. The Company evaluates qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying value and whether it is necessary to perform goodwill impairment process.

Definite-lived Intangible Assets

Definite-lived intangible assets represent certain trade names, patents, licenses, software, acquired technology and customer relationships. Definite-lived intangible assets are recorded at cost less any accumulated amortization and accumulated impairment losses, if any. Definite-lived intangible assets acquired through the business combination are measured at fair value at the acquisition date. The Company amortizes these acquired definite-lived intangibles assets with a finite life on a straight-line basis, over 6 years for technology; 7 years for customer relationships; and 8 years for trademarks and trade names.

Intangible Assets

Intangible assets consist of (a) capitalized legal fees and filing costs related to obtaining patents and trademarks, (b) tradenames and software, (c) purchased software, and (d) the purchase cost of indefinite-lived website domains. The estimated useful lives of identifiable intangible assets with definite useful lives have been estimated to be between one and twenty years. Purchased website domain costs with an indefinite useful life are not subject to amortization, but are subject to an annual impairment test, by comparing their carrying amount with their corresponding fair value. For any given intangible asset with an indefinite useful life, if its fair value exceeds its carrying amount no impairment loss shall be recognized.

The carrying value of intangibles is periodically reviewed and impairments, if any, are recognized when the future undiscounted cash flows realized from the assets is less than its carrying value.

Impairment of Long-Lived Assets

Long-lived assets and identifiable intangibles held for use are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the sum of undiscounted expected future cash flows is less than the carrying amount of the asset or if changes in facts and circumstances indicate, an impairment loss is recognized and measured using the asset’s fair value. In December 2023, it was determined that the intangible related to development of proprietary software by Lumeto, Inc. would not have future economic value and was written down; the Company recognized an impairment loss of $700. The Company did not recognize any impairment loss during the year ended December 31, 2022.

Warrants

The Company accounts for warrants as liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For issued warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. The Company accounts for the warrants issued in accordance with the guidance contained in ASC 815-40-15-7C, under which the warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the warrants as liabilities at their fair value and adjusts the warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s condensed consolidated statement of operations.

Convertible Preferred Stocks

The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with ASC 480 and ASC 815 to determine if those instruments or embedded components of those instruments qualify as derivatives and are subject to bifurcation accounting. The Company determines that the economic characteristics and risks of the embedded derivative instrument are clearly and closely related to the economic characteristics and risks of the host contract. The convertible instruments are accounted for as a single hybrid instrument. Additionally, the convertible instruments do not have any redemption features that would preclude permanent equity classification in accordance with the guidance contained in ASC 480-10-S99.

Advertising and Promotion Costs

Advertising costs are charged to expense as incurred and were $925 and $426 for the years ended December 31, 2023 and 2022, respectively. The Company also incurred product promotion costs for demonstration products delivered to prospective customers of $225 and $688 for the years ended December 31, 2023 and 2022, respectively. Advertising and promotion costs are included in selling, general and administrative expenses in the accompanying statements of operations.

Demonstration and Training Costs

The Company maintains a demonstration and training department as a part of its sales and marketing activities and does not charge for product demonstrations or training. Training is not a condition or requirement of sale as most sales are made through distributors to their end customers. The Company conducts local and regional in-person, webinar and on-line demonstrations and use of force and escalation training to support law enforcement agencies with no purchase requirement. Such training, when provided, may occur before or after initial or subsequent purchase or field deployment of the Company’s products. The Company believes that law enforcement trainers and officers that have seen demonstrations or have been trained about its products are more supportive of their departments purchase and deployment of product.

Research and Development Costs

Research and development costs are expensed as incurred.

Contract Manufacturers

The Company employs contract manufacturers for production of certain components and sub-assemblies. The Company may provide parts and components to such parties from time to time but recognizes no revenue or markup on such transactions.

Leases

The Company adopted ASC Topic 842, Leases (“Topic 842”) on January 1, 2019. In accordance with the guidance in Topic 842, the Company recognizes lease liabilities and corresponding right-of-use-assets for all leases with terms of greater than 12 months. Leases with a term of 12 months or less will be accounted for in a manner similar to the guidance for operating leases prior to the adoption of Topic 842. Refer to Note 9, Leases for more information.

Revenue Recognition

The Company adopted ASC Topic 606, Revenue from Contracts with Customers on January 1, 2018. The Company enters into contracts that include various combinations of products, accessories, software and services, each of which are generally distinct and are accounted for as separate performance obligations. Product sales include BolaWrap products and accessories. Other revenue includes VR revenues, service, training and shipping revenues.

The timing of revenue recognition may differ from the timing of invoicing to customers. The Company generally has an unconditional right to consideration when customers are invoiced, and a receivable is recorded. A contract asset is recognized when revenue is recognized prior to invoicing, or a contract liability (deferred revenue) when revenue will be recognized subsequent to invoicing. The Company recognizes an asset if there are incremental costs of obtaining a contract with a customer such as commissions. These costs are ascribed to or allocated to the underlying performance obligations in the contract. The Company may receive consideration, per terms of a contract, from customers prior to transferring goods to the customer. The Company records customer deposits as a contract liability. Additionally, the Company may receive payments, most typically for service and warranty contracts, at the onset of the contract and before the services have been performed. In such instances, a deferred revenue liability is recorded. The Company recognizes these contract liabilities as revenue after all revenue recognition criteria are met.

Estimated costs for the Company’s standard warranty, generally one-year, are charged to cost of products sold when revenue is recorded for the related product. Royalties are also charged to cost of products sold.

Shipping and Handling Costs

Shipping and handling costs are included in cost of revenues. Shipping and handling costs invoiced to customers are included in revenue. Actual shipping and handling costs were $200 and $296 for the years ended December 31, 2023 and 2022, respectively. Actual revenues from shipping and handling were $37 and $109 for the years ended December 31, 2023 and 2022, respectively.

Warranty Reserves

The Company warrants its products and accessories to be free from defects in materials and workmanship for a period of one year from the date of purchase. The warranty is generally limited. The Company currently provides direct warranty service. International market warranties are generally similar to the US market.

The Company establishes a warranty reserve based on anticipated warranty claims at the time product revenues are recognized. Factors affecting warranty reserve levels include the number of units sold, anticipated cost of warranty repairs and anticipated rates of warranty claims. The Company evaluates the adequacy of the provision for warranty costs each reporting period. The warranty reserve was $72 and $125 at December 31, 2023 and 2022. Actual warranty costs could differ from estimates.

Segment Information

ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. The Company operates as a single segment and will evaluate additional segment disclosure requirements as it expands its operations.

Income Taxes

No income tax expense was recorded for the periods ended December 31, 2023 and 2022 due to losses incurred. Deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes.

The Company maintains a valuation allowance with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Company’s financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry-forward period under the Federal tax laws. Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the realizability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year of the change in estimates.

Recently Issued Accounting Guidance

The Company has reviewed recently issued, but not yet effective, accounting pronouncements and does not believe the future adoptions of any such pronouncements will be expected to cause a material impact on its financial condition or the results of operations.

In July 2023, the SEC adopted the final rule under SEC Release No. 33-11216, Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure, requiring disclosure of material cybersecurity incidents on Form 8-K and periodic disclosure of a registrant’s cybersecurity risk management, strategy and governance in annual reports. Regulation S-K Item 6 disclosure requirements under this rule will be effective for us in the fourth quarter of 2023. Incident disclosure requirements in Form 8-K will be effective for us on June 15, 2024. We are still evaluating for any impact on our financial statement disclosures from the adoption of this final rule.

Note 19 - Business Combination - Schedule of Business Acquisitions (Details) - USD ($)	Aug. 16, 2023	Aug. 16, 2023	Aug. 09, 2023	Dec. 31, 2023	Dec. 31, 2022
Goodwill				$ 1,610,000	$ 0
Intrensic, LLC [Member]
Cash and cash equivalents	$ 3,000	$ 3,000
Accounts receivable	91,000	91,000
Inventory	61,000	61,000
Goodwill	1,610,000	1,610,000
Total assets	2,495,000	2,495,000
Liabilities	3,000	3,000
Equity	2,492,000	2,492,000
Total liabilities and equity	2,495,000	2,495,000
Cash	554,000	554,000	$ 553,588
Equity	1,938,000
Liabilities assumed	3,000
Total	2,495,000
Intrensic, LLC [Member] \| Technology-Based Intangible Assets [Member]
Intangible assets	490,000	490,000
Intrensic, LLC [Member] \| Customer Relationships [Member]
Intangible assets	160,000	160,000
Intrensic, LLC [Member] \| Trademarks and Trade Names [Member]
Intangible assets	$ 80,000	$ 80,000

Note 17 - Income Taxes - Reconciliations of Federal Statutory Rate to Effective Income Tax Rate (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
U.S. Statutory Federal Income Tax Rate	$ (6,355)	$ 3,700
State Income Taxes, net of Federal Income tax Benefit	(421)	345
Permanent differences and other	2,433	(289)
Valuation Allowance	4,333	(3,756)
Income Tax Provision/(Benefit)	$ 0	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

Note 6 - Property and Equipment (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Property, Plant and Equipment [Table Text Block]

	December 31,
	2023			2022
Production and lab equipment	$	542		$	513
Tooling		562			448
Computer equipment		615			531
Furniture, fixtures and improvements		196			181
		1,915			1,673
Accumulated depreciation		(1,406	)		(915	)
Property and equipment, net	$	509		$	758

Note 5 - Inventories, Net - Summary of Inventories (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Finished goods	$ 3,521	$ 2,293
Raw materials	2,738	1,682
Reserve for Obsolescence	(465)	0
Inventories - net	$ 5,794	$ 3,975

Note 17 - Income Taxes

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Income Tax Disclosure [Text Block]

17.

INCOME TAXES

Until its reverse recapitalization on March 31, 2017, the Company was treated as a partnership for federal and state income tax purposes and did not incur income taxes. The Company accounts for income taxes under ASC 740. Deferred income tax assets and liabilities are determined based upon differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when the differences are expected to reverse. Accounting standards require the consideration of a valuation allowance for deferred tax assets if it is "more likely than not" that some component or all of the benefits of deferred tax assets will not be realized.

The provision/(benefit) for Income Taxes for the years ended December 31, 2023 and 2022, consists of the following:

	Year Ended December 31,
	2023			2022

Current Tax Expense/(Benefit)
Deferred Tax Expense/(Benefit)	$	(4,333	)	$	3,756
Change in Valuation Allowance		4,333			(3,756	)
Income Tax Provision/(Benefit)	$	-		$	-

The Company’s effective income tax rate is different from the federal statutory tax rate in 2023 predominantly due to the valuation allowance, permanent differences, and state taxes. A reconciliation of the statutory U.S. Federal Tax Rate to the Company's Effective Tax Rate is as follows:

	Year Ended December 31,
	2023			2022

U.S. Statutory Federal Income Tax Rate	$	(6,355	)	$	3,700
State Income Taxes, net of Federal Income tax Benefit		(421	)		345
Permanent differences and other		2,433			(289	)
Valuation Allowance		4,333			(3,756	)
Income Tax Provision/(Benefit)	$	-		$	-

Deferred income taxes represent the tax effect of transactions that are reported in different periods for financial and tax reporting purposes. The combined temporary differences and carryforwards of each tax paying component of the Company that give rise to a significant portion of the deferred income tax benefits and liabilities are as follows as of December 31, 2023 and 2022:

	Year Ended December 31,
	2023			2022

Deferred income tax assets:
Net operating loss carryforwards	$	17,002		$	14,898
Sec. 174 capitalization		1,494			-
Research and development credits		81			65
Stock Based Compensation		1,447			1,216
Accruals and Other		995			324
Total deferred tax assets (gross)		21,018			16,503
Less valuation allowance		(20,302	)		(15,969	)
Net deferred tax assets		716			534

Deferred income tax liabilities:		-			-
Depreciation and other		(716	)		(534	)
Net deferred tax liabilities	$	(716	)	$	(534	)
Net deferred income taxes	$	-		$	-

As of December 31, 2023, the Company had available federal net operating loss carryforwards of approximately $703 which begin to expire in 2037, and approximately $78.8 million which will never expire. The Company has available state net operating loss carryforwards of approximately $30.8 million as of December 31, 2023, which begin to expire in 2037. As of December 31, 2023, the Company has federal research and development tax credits of approximately $81.

The Company has provided a valuation allowance against the Company’s deferred tax assets, since, in the opinion of management, based upon the earnings history of the Company, it is not more likely than not that the benefits will be realized. All or a portion of the remaining valuation allowance may be reduced in future years based on an assessment of earnings sufficient to fully utilize these potential tax benefits.

ASC 740 addresses the determination of whether tax benefits claimed or expected to be claimed on a tax return should be recorded in the financial statements. Under ASC 740, the Company may recognize the tax benefit from an uncertain tax position only if it is more likely that not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position. The Company has no material uncertain tax positions that qualify for either recognition or disclosure in consolidated financial statements.

It is the Company's policy to recognize interest and/or penalties related to income tax matters in income tax expense. As of December 31, 2023 and 2022, the Company has accrued no interest and no penalties related to uncertain tax positions. The Company does not have any federal, or state and local income tax returns currently under examination.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 740
-SubTopic 10
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+ Details

Note 18 - Major Customers and Related Information

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Concentration Risk Disclosure [Text Block]

18.

MAJOR CUSTOMERS AND RELATED INFORMATION

Major Customers

For the year ended December 31, 2023, revenues from one distributor accounted for approximately 37% of revenues with no other single customer accounting for more than 10% of total revenues. Accounts receivable from one distributor accounted for 67% of net accounts receivable at December 31, 2023.

For the year ended December 31, 2022, revenues from two distributors accounted for approximately 36% and 25% of revenues with no other single customer accounting for more than 10% of total revenues. Accounts receivable from one distributor accounted for 70% of net accounts receivable at December 31, 2022.

The following table summarizes revenue by geographic region. Revenue is attributed to countries based on customer’s delivery location.

	For the Year
	Ended December 31,
	2023		2022
Americas	$	3,773	$	5,315
Europe, Middle East and Africa		2,302		2,487
Asia Pacific		58		247
Total revenues	$	6,133	$	8,049

See Note 1 – Concentrations of Risks for information on reliance on suppliers.

Note 17 - Income Taxes (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]

	Year Ended December 31,
	2023			2022

Current Tax Expense/(Benefit)
Deferred Tax Expense/(Benefit)	$	(4,333	)	$	3,756
Change in Valuation Allowance		4,333			(3,756	)
Income Tax Provision/(Benefit)	$	-		$	-

Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]

	Year Ended December 31,
	2023			2022

U.S. Statutory Federal Income Tax Rate	$	(6,355	)	$	3,700
State Income Taxes, net of Federal Income tax Benefit		(421	)		345
Permanent differences and other		2,433			(289	)
Valuation Allowance		4,333			(3,756	)
Income Tax Provision/(Benefit)	$	-		$	-

Schedule of Deferred Tax Assets and Liabilities [Table Text Block]

	Year Ended December 31,
	2023			2022

Deferred income tax assets:
Net operating loss carryforwards	$	17,002		$	14,898
Sec. 174 capitalization		1,494			-
Research and development credits		81			65
Stock Based Compensation		1,447			1,216
Accruals and Other		995			324
Total deferred tax assets (gross)		21,018			16,503
Less valuation allowance		(20,302	)		(15,969	)
Net deferred tax assets		716			534

Deferred income tax liabilities:		-			-
Depreciation and other		(716	)		(534	)
Net deferred tax liabilities	$	(716	)	$	(534	)
Net deferred income taxes	$	-		$	-

Note 2 - Revenue and Product Costs - Contract Liabilities (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Customer Deposits [Member]
Balance	$ 0
Additions, net	1,002
Transfer to revenue	0
Balance	1,002
Current portion	1,002
Long-term portion	0
Extended Warranties and Services, VR, and Training [Member]
Balance	333
Additions, net	407
Transfer to revenue	(196)
Balance	544
Current portion	407	$ 166
Long-term portion	$ 137	$ 167

Insider Trading Arrangements	12 Months Ended
Insider Trading Arrangements	Dec. 31, 2023
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]	ITEM 9B. OTHER INFORMATION None.
Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

Note 4 - Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

	As of December 31, 2023
	Adjusted		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
Level 1:
Money Market Funds	$	1,793	$	-	$	-	$	1,793
Certificate of Deposits		7,500		-		-		7,500
Total Financial Assets	$	9,293	$	-	$	-	$	9,293

	As of December 31, 2022
	Adjusted		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
Level 1:
Money Market Funds	$	3,004	$	-	$	-	$	3,004
U.S. Treasury securities in short-term investments		9,849		100		-		9,949
Certificate of Deposits		4,000		-		-		4,000
Total Financial Assets	$	16,853	$	100	$	-	$	16,953

Fair Value, Liabilities Measured on Recurring Basis [Table Text Block]

Level 3:	December 31, 2023
Fair value at inception or the beginning of the period	$	(7,717	)
Change in fair value of warrant liabilities		(11,986	)
Fair value as of December 31, 2023	$	(19,703	)

Fair Value Measurement Inputs and Valuation Techniques [Table Text Block]

	As of December 31, 2023
Expected stock price volatility		143	%
Risk-free interest rate		3.85	%
Dividends yield		0	%
Expected life of warrants (years)		4.50
Exercise price	$	1.45

Note 4 - Financial Instruments - Level 3 Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Change in fair value of warrant liabilities	$ 11,986	$ (0)
Fair Value, Inputs, Level 3 [Member]
Fair value at inception or the beginning of the period	(7,717)
Change in fair value of warrant liabilities	(11,986)
Fair value as of December 31, 2023	$ (19,703)	$ (7,717)

Note 19 - Business Combination (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Business Acquisitions, by Acquisition [Table Text Block]

Cash and cash equivalents	$	3
Accounts receivable		91
Inventory		61

Technology (included in Intangibles)		490
Customer relationships (included in Intangibles)		160
Trademarks and trade names (included in Intangibles)		80
Goodwill		1,610
Total assets	$	2,495

Liabilities		3
Equity		2,492
Total liabilities and equity	$	2,495

Purchase Price:
Cash		554
Equity		1,938
Liabilities assumed		3
Total	$	2,495

Note 17 - Income Taxes - Income Tax Expense (Benefits) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Expense/(Benefit)	$ (4,333)	$ 3,756
Change in Valuation Allowance	4,333	(3,756)
Income Tax Provision/(Benefit)	$ 0	$ 0

- Definition

Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations.

+ References

+ Details

Note 16 - Related Party Transactions (Details Textual) - USD ($)					12 Months Ended
	Aug. 16, 2023	Aug. 16, 2023	Aug. 09, 2023	Jun. 29, 2023	Dec. 31, 2023	Dec. 31, 2022	Sep. 30, 2016
Intrensic, LLC [Member]
Business Acquisition, Percentage of Voting Interests Acquired			100.00%
Payments to Acquire Businesses, Gross	$ 554,000	$ 554,000	$ 553,588
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	1,250,000	1,250,000	1,250,000
Executive Chairman [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)				2,068,966
Proceeds from Issuance or Sale of Equity				$ 3,000,000
Executive Chairman [Member] \| Series A Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues (in shares)				3,000
Mr. Elwood Norris [Member]
Reimbursement of Expenses to Related Party, Monthly Amount					$ 1,500
Consulting Fees to Related Party, Monthly Amount					7,500
Related Party Transaction, Amounts of Transaction					108,000	$ 108,000
Syzygy Licensing LLC [Member] \| Related Party Technology License Agreement [Member]
Royalty Payments, Percentage of Product Revenue							4.00%
Maximum Royalties to Be Paid Under Agreement							$ 1,000,000
Royalty Expense					$ 199,000	$ 274,000

Document And Entity Information - USD ($)	12 Months Ended
Document And Entity Information - USD ($)	Dec. 31, 2023	Aug. 26, 2024	Jun. 30, 2023
Document Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Document Transition Report	false
Entity File Number	000-55838
Entity Registrant Name	Wrap Technologies, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	98-0551945
Entity Address, Address Line One	1817 W 4th Street
Entity Address, City or Town	Tempe
Entity Address, State or Province	AZ
Entity Address, Postal Zip Code	85281
City Area Code	800
Local Phone Number	583-2652
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	WRAP
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	No
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Document Financial Statement Error Correction [Flag]	false
Entity Shell Company	false
Entity Public Float			$ 59,512,072
Entity Common Stock, Shares Outstanding (in shares)		45,860,545
Auditor Firm ID	7000
Auditor Name	HTL International, LLC
Auditor Location	Houston, TX
Entity Central Index Key	0001702924
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Note 12 - Share-based Compensation - Information Regarding Stock Options Outstanding (Details)	12 Months Ended
	Dec. 31, 2023 $ / shares shares
Exercise Price Range One [Member]
Exercise price, lower range limit (in dollars per share)	$ 1
Exercise price, upper range limit (in dollars per share)	$ 2
Options, number outstanding (in shares) \| shares	2,084,503
Options outstanding, weighted average remaining contractual life (Year)	9 years 7 months 2 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 1.44
Options exercisable (in shares) \| shares	75,527
Options exercisable, weighted average exercise price (in dollars per share)	$ 1.79
Exercise Price Range Two [Member]
Exercise price, lower range limit (in dollars per share)	2.01
Exercise price, upper range limit (in dollars per share)	$ 3
Options, number outstanding (in shares) \| shares	1,675,699
Options outstanding, weighted average remaining contractual life (Year)	8 years
Options outstanding, weighted average exercise price (in dollars per share)	$ 2.76
Options exercisable (in shares) \| shares	487,967
Options exercisable, weighted average exercise price (in dollars per share)	$ 2.69
Exercise Price Range Three [Member]
Exercise price, lower range limit (in dollars per share)	3.01
Exercise price, upper range limit (in dollars per share)	$ 4
Options, number outstanding (in shares) \| shares	250,000
Options outstanding, weighted average remaining contractual life (Year)	10 years
Options outstanding, weighted average exercise price (in dollars per share)	$ 3.1
Options exercisable (in shares) \| shares	0
Options exercisable, weighted average exercise price (in dollars per share)	$ 0
Exercise Price Range Four [Member]
Exercise price, lower range limit (in dollars per share)	4.01
Exercise price, upper range limit (in dollars per share)	$ 25
Options, number outstanding (in shares) \| shares	647,433
Options outstanding, weighted average remaining contractual life (Year)	5 years 6 months 25 days
Options outstanding, weighted average exercise price (in dollars per share)	$ 5.39
Options exercisable (in shares) \| shares	597,086
Options exercisable, weighted average exercise price (in dollars per share)	$ 5.39

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues:
Product sales	$ 5,337	$ 7,481
Other revenue	796	568
Total revenues	6,133	8,049
Total cost of revenues	3,227	4,315
Gross profit	2,906	3,734
Total operating expenses
Selling, general and administrative	18,361	16,386
Research and development	3,267	5,078
Total operating expenses	21,628	21,464
Loss from operations	(18,722)	(17,730)
Interest income	375	52
Change in fair value of warranty liabilities	(11,986)	0
Other	113	61
Total other income (expense), net	(11,498)	113
Net loss	(30,220)	(17,617)
Less: convertible preferred stock dividends	(392)	0
Net loss attributable to common stockholders	$ (30,612)	$ (17,617)
Net loss per basic and diluted common share (in dollars per share)	$ (0.72)	$ (0.43)
Weighted average common shares used to compute net loss per basic and diluted common share (in shares)	42,324,190	41,174,812
Comprehensive loss:
Net loss	$ (30,612)	$ (17,617)
Net unrealized gain on short-term investments	0	100
Comprehensive loss	$ (30,612)	$ (17,517)

Note 3 - Asset Acquisition

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Asset Acquisition [Text Block]

3.	ASSET ACQUISITIONS

Pursuant to the Professional Services and Technology Acquisition Agreement (the “Services Agreement”), dated as of November 22, 2022, and as amended on April 2, 2023, by and among the Company, Lumeto, Inc. (“Lumeto”) and Spatial Industries Group, Inc. (collectively, “Service Provider”), the Service Provider provides to the Company certain technology, services, and perpetual licenses for use within the Company’s Wrap Reality virtual simulation training platform (the “Technology, Services, and License”), in consideration for a one-time cash payment upon the execution of the Services Agreement of $700,

The Company determined during 2023 that the intangible related to software developed by Lumeto would not have future economic benefit and the value of the intangible was written off as a loss on impairment of $700.

On August 9, 2023, the Company entered into a Membership Interest Purchase Agreement (the “Intrensic Purchase Agreement”) by and among the Company, certain members of Intrensic, including Kevin Mullins, the Company’s former Chief Executive Officer (collectively, “Sellers”) and Buford Ortale, as the Seller’s representative. Under the terms of the Intrensic Purchase Agreement, the Company agreed to purchase, and Sellers agreed to sell, 100% of the membership interests (the “Membership Interests”) of Intrensic for the following consideration upon the consummation of the sale of the Membership Interests (the “Intrensic Closing”): (i) $553,588 in cash, subject to adjustment based upon the outstanding indebtedness of Intrensic and Intrensic’s working capital as of the Intrensic Closing; and (ii) 1,250,000 shares of Common Stock of the Company the “Intrensic Acquisition”). The Intrensic Acquisition closed on August 16, 2023, in accordance with the terms of the Purchase Agreement.

Note 15 - Commitments and Contingencies (Details Textual)	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Nov. 30, 2023 USD ($) ft²	Aug. 31, 2022 USD ($)	Jan. 31, 2022	Jun. 30, 2019 ft²	Sep. 30, 2016 USD ($)
Contractual Obligation	$ 662,000
Related Party Technology License Agreement [Member] \| Syzygy Licensing LLC [Member]
Royalty Payments, Percentage of Product Revenue							4.00%
Maximum Royalties to Be Paid Under Agreement							$ 1,000,000
Royalty Expense	199,000	$ 274,000
Royalty Guarantees, Commitments, Amount	$ 81,000
Office Space in Miami, Florida [Member]
Area of Real Estate Property \| ft²			4,487
Lessee, Operating Lease, Term of Contract			94 months
Lessee, Operating Lease, Rent Abatement Term			5 months
Lessee, Operating Lease, Monthly Liability, to be Paid			$ 40
Lessee, Operating Lease, Yearly Rent Increase			3.00%
Office Space in Tempe, Arizona [Member]
Area of Real Estate Property \| ft²						11,256
Lessee, Operating Lease, Term of Contract					3 years
Lessee, Operating Lease, Monthly Liability, to be Paid				$ 10
Lessee, Operating Lease, Yearly Rent Increase				4.00%

Note 20 - Subsequent Events (Details Textual) - $ / shares	Jan. 14, 2024	Aug. 19, 2024	Jul. 03, 2023
Series A Preferred Stock [Member]
Preferred Stock, Convertible, Conversion Price (in dollars per share)			$ 1.45
Forecast [Member] \| Series A Preferred Stock [Member] \| Maximum [Member]
Preferred Stock, Convertible, Conversion Price (in dollars per share)		$ 1
Restricted Stock [Member] \| The 2017 Stock Incentive Plan [Member] \| Chief Executive Officer [Member] \| Subsequent Event [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	632,911

Note 16 - Related Party Transactions

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

16.

RELATED PARTY TRANSACTIONS

Series A Preferred Stock

On June 29, 2023, the Company entered into the Series A Purchase Agreement with certain investors, including Scot Cohen, the Company’s Chief Executive Officer, and V4 Global LLC (“V4”). Mr. Cohen has voting and dispositive control with respect to the securities as is deemed to be the beneficial owner of the securities held by V4. Pursuant to the Series A Purchase Agreement, the Company issued Mr. Cohen and V4 an aggregate of 3,000 shares of Series A Preferred Stock and Series A Warrants to purchase up to an aggregate of 2,068,966 shares of Common Stock for aggregate gross proceeds of $3,000.

Consulting Services

Commencing in October 2017, the Company began reimbursing Mr. Elwood Norris, a former officer, current 5% stockholder and consultant of the Company, $1.5 per month on a month-to-month basis for laboratory facility costs and $7.5 per month on a month-to month basis for invention consulting services, for an aggregate of $108 during each of the years ended December 31, 2023, and 2022.

The Company is obligated to pay royalties and development and patent costs pursuant to an exclusive Amended and Restated Intellectual Property License Agreement dated September 30, 2016, with Syzygy Licensing, LLC (“Syzygy”), a company owned and controlled by a 5% stockholder of the Company, Mr. Elwood Norris, and a former officer of the Company, Mr. James Barnes. The agreement provides for royalty payments of 4% of revenue from products employing the licensed ensnarement device technology up to an aggregate of $1,000 in royalties or until September 30, 2026, whichever occurs earlier. During the years ended December 31, 2023, and 2022 the Company incurred royalties to Syzygy of $199 and $274, respectively.

Intrensic Acquisition

On August 9, 2023, the Company entered into the Intrensic Purchase Agreement with the Sellers, including Kevin Mullins, the Company’s former Chief Executive Officer. Under the terms of the Intrensic Purchase Agreement, the Company agreed to purchase, and Sellers agreed to sell, 100% of the Membership Interests of Intrensic for the following consideration upon the Intrensic Closing: (i) $554 in cash, subject to adjustment based upon the outstanding indebtedness of Intrensic and Intrensic’s working capital as of the Intrensic Closing; and (ii) 1,250,000 shares of Common Stock of the Company. The Intrensic Acquisition closed on August 16, 2023, in accordance with the terms of the Intrensic Purchase Agreement.

See Notes 8 and 15 for additional information on related party transactions and obligations.

- Definition

The 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.

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+ Details

Note 2 - Revenues and Product Costs (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]

	Customer		Deferred
	Deposits		Revenue
Balance at January 1, 2023	$	-	$	333
Additions, net		1,002		407
Transfer to revenue		-		(196	)
Balance at December 31, 2023	$	1,002	$	544
Current portion	$	1,002	$	407
Long-term portion	$	-	$	137

Note 4 - Financial Instruments (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
OCI, Debt Securities, Available-for-Sale, Unrealized Holding Gain (Loss), before Adjustment, after Tax	$ 0	$ 100

Note 7 - Intangible Assets and Goodwill - Schedule of Goodwill (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Balance at January 1, 2023	$ 0
Acquired goodwill	1,610
Balance at December 31, 2023	$ 1,610

- Definition

Amount, after accumulated impairment loss, of asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

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Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Note 8 - Accounts Payable and Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Accrued Liabilities [Table Text Block]

	December 31,
	2023		2022
Patent and legal costs	$	21	$	135
Accrued compensation		325		1,100
Warranty costs		72		125
Taxes and other		274		103
	$	692	$	1,463

Schedule of Product Warranty Liability [Table Text Block]

	Year Ended December 31,
	2023			2022
Balance, beginning of period	$	125		$	96
Warranty settlements		(169	)		(181	)
Warranty provision		116			210
Balance, end of period	$	72		$	125

Note 18 - Major Customers and Related Information (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Disaggregation of Revenue [Table Text Block]

	For the Year
	Ended December 31,
	2023		2022
Americas	$	3,773	$	5,315
Europe, Middle East and Africa		2,302		2,487
Asia Pacific		58		247
Total revenues	$	6,133	$	8,049

Note 6 - Property and Equipment (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Depreciation	$ 479	$ 475

Note 6 - Property and Equipment

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Property, Plant and Equipment Disclosure [Text Block]

6.	PROPERTY AND EQUIPMENT

Property and equipment consisted of the following:

	December 31,
	2023			2022
Production and lab equipment	$	542		$	513
Tooling		562			448
Computer equipment		615			531
Furniture, fixtures and improvements		196			181
		1,915			1,673
Accumulated depreciation		(1,406	)		(915	)
Property and equipment, net	$	509		$	758

Depreciation expense was $479 and $475 for the years ended December 31, 2023 and 2022, respectively.

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Cash Flows From Operating Activities:
Net loss for the period	$ (30,220)	$ (17,617)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	823	762
Write off of intangibles	700	0
Share-based compensation	1,985	3,225
Warranty provision	116	210
Change in fair value of warrant liabilities	11,986	(0)
Non-cash lease expense	177	101
Provision for doubtful accounts	180	72
Write off of accounts receivable	413	0
Inventory obsolescence reserve	465	0
Changes in assets and liabilities:
Accounts receivable	(696)	957
Inventories	(2,224)	(2,410)
Prepaid expenses and other current assets	(179)	93
Accounts payable	(617)	(360)
Operating lease liability	(160)	(91)
Customer deposits	1,002	(43)
Accrued liabilities and other	(344)	611
Warranty settlement	(169)	(181)
Deferred revenue	210	68
Changes in other non-current assets	(151)	0
Net cash used in operating activities	(16,703)	(14,603)
Cash Flows From Investing Activities:
Purchases of short-term investments	(10,000)	(30,466)
Proceeds from maturities of short-term investments	16,355	46,600
Capital expenditures for property and equipment	(230)	(256)
Net cash paid for acquisition of Intrensic	(554)	0
Proceeds from long-term deposits	0	(92)
Net cash provided by investing activities	5,178	14,913
Cash Flows From Financing Activities:
Proceeds from exercise of stock options	208	83
Proceeds from issuance of warrants and convertible preferred stock,	10,000	0
Dividends settled in cash	(58)	0
Net cash provided by financing activities	10,150	83
Net (decrease) increase in cash and cash equivalents	(1,375)	393
Cash and cash equivalents, beginning of period	5,330	4,937
Cash and cash equivalents, end of period	3,955	5,330
Supplemental Disclosure of Non-Cash Investing and Financing Activities:
Change in unrealized gain on short-term investments	(94)	100
Right-of-use asset and liability recorded during period	2,109	234
Issuance of common stock for acquisition	1,938	0
Net assets acquired from acquisition	2,491	0
Dividends on convertible preferred stock	(334)	0
Dividends settled with common stock	232	0
Patents and Trademarks [Member]
Cash Flows From Investing Activities:
Investment in patents and trademarks	(393)	(173)
Intangibles Other than Patents and Trademarks [Member]
Cash Flows From Investing Activities:
Investment in patents and trademarks	$ 0	$ (700)

Note 14 - Defined Contribution Plan (Details Textual) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 0	$ 0

Note 9 - Leases (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Lessee, Operating Lease, Disclosure [Table Text Block]

Operating lease liability- short term	$	616
Operating lease liability - long term		1,671
Total Operating Lease Liability	$	2,287

Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]

2024	$	443
2025		567
2026		507
2027		522
2028		538
Thereafter		1,271
Total future minimum lease payments		3,848
Less imputed interest		(1,561	)
Total	$	2,287

Note 19 - Business Combination

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Business Combination Disclosure [Text Block]

19.

BUSINESS COMBINATION

On August 8, 2023, the Company entered into the Intrensic Purchase Agreement with the Sellers. The Intrensic Closing occurred on August 16, 2023. Under the terms of the Intrensic Purchase Agreement, the Company agreed to purchase, and Sellers agreed to sell, the Membership Interests for the following consideration at the Intrensic Closing: (i) $554 in cash, subject to adjustment based upon the outstanding indebtedness of Intrensic and Intrensic’s working capital as of the Intrensic Closing; and (ii) 1,250,000 shares of Common Stock of the Company valued at approximately $1,938.

The Company assessed the historical financial information of Intrensic to determine if it would materially impact the Company’s historical financial statements for the purposes of disclosing proforma financial information. The Company determined that in the current or prior reporting periods the acquired business contributed immaterially to the Company’s financial statements. Therefore, a pro forma disclosure of the Company as if the business combination had occurred is not warranted under ASC 805.

The table below sets forth the allocation of the fair value of Intrensic’s net assets acquired and the corresponding line item in the Company’s consolidated balance sheet at the date of acquisition. Intangible assets were valued using established valuation techniques, as follows: Technology and trade names and trademarks were valued using the relief-from-royalty method, whereby the benefit of ownership of the intellectual property is valued as the relief from the royalty expense that would otherwise be incurred.

Customer relationships were valued using the multi-period excess earnings method under the income approach.

Cash and cash equivalents	$	3
Accounts receivable		91
Inventory		61

Technology (included in Intangibles)		490
Customer relationships (included in Intangibles)		160
Trademarks and trade names (included in Intangibles)		80
Goodwill		1,610
Total assets	$	2,495

Liabilities		3
Equity		2,492
Total liabilities and equity	$	2,495

Purchase Price:
Cash		554
Equity		1,938
Liabilities assumed		3
Total	$	2,495

Legal fees incurred in connection with the transaction totaled approximately $38 and have been expensed as incurred.

Note 15 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

15.

COMMITMENTS AND CONTINGENCIES

Facility Lease

In November 2023, the Company commenced a lease in an office building located at 3480 Main Highway, Coconut Grove, Florida. The lease of 4,487 square feet for an initial term of 94 months, including 5 months of rent abatement in the first two years of the lease. The aggregate monthly payments will restart in 2024 for $40 per month, increasing 3% each year through the lease term, plus other certain costs and charges as specified in the lease agreement.

Our executive offices, sales, training, assembly, and warehouse facilities are located at 1817 West 4th Street, Tempe, Arizona. The lease of 11,256 square feet commenced in June 2019 and was for an initial lease term through July 2022. In January 2022 we renewed this lease for three years with aggregate monthly payments of $10 commencing August 2022, increasing 4% annually through the term ending July 31, 2025.

Related Party Technology License Agreement

The Company is obligated to pay royalties and development and patent costs pursuant to an exclusive Amended and Restated Intellectual Property License Agreement dated as of September 30, 2016, with Syzygy, a company owned and controlled by stockholder/consultant Mr. Elwood Norris and stockholder/consultant Mr. James Barnes. The agreement provides for royalty payments of 4% of revenue from products employing the licensed ensnarement device technology up to an aggregate of $1,000 in royalties or until September 30, 2026, whichever occurs earlier. The Company recorded $199 and $274 for royalties incurred during the years ended December 31, 2023 and 2022, respectively. Maximum payout still available under this arrangement is $81.

Purchase Commitments

At December 31, 2023 the Company was committed for approximately $662 for future component deliveries that are generally subject to modification or rescheduling in the normal course of business

Indemnifications and Guarantees

Our officers and directors are indemnified as to personal liability as provided by the Delaware law and the Company’s articles and bylaws. The Company may also undertake indemnification obligations in the ordinary course of business related to its operations. The Company is unable to estimate with any reasonable accuracy the liability that may be incurred pursuant to any such indemnification obligations now or in the future. Because of the uncertainty surrounding these circumstances, the Company’s current or future indemnification obligations could range from immaterial to having a material adverse impact on its financial position and its ability to continue in the ordinary course of business. The Company has no liabilities recorded for such indemnities.

Regulatory Agencies

The Company is subject to oversight from regulatory agencies regarding firearms that arises in the ordinary course of its business.

Litigation

The Company is subject to litigation and other claims in the ordinary course of business. The Company records a provision for a liability relating to legal matters when it is both probable that a liability has been incurred and the amount of the loss can be reasonably estimated. These provisions are reviewed and adjusted to include the impacts of negotiations, estimated settlements, legal rulings, advice of legal counsel, and other information and events pertaining to a particular matter. At December 31, 2023, we had no provision for liability under existing litigation.

Note 10 - Warrants (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Jun. 29, 2023	Dec. 31, 2023	Jul. 03, 2023	Dec. 31, 2022
Preferred Stock, Par or Stated Value Per Share (in dollars per share)		$ 0.0001		$ 0.0001
Warrants Issued in Registered Direct Offering [Member]
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares)	6,896,553
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)	$ 1.45
Warrants and Rights Outstanding, Term (Year)		5 years
Registered Direct Offering [Member]
Proceeds from Issuance or Sale of Equity	$ 10,000
Proceeds from Issuance of Warrants	$ 7,717
Series A Preferred Stock [Member]
Preferred Stock, Convertible, Conversion Price (in dollars per share)			$ 1.45
Series A Preferred Stock [Member] \| Registered Direct Offering [Member]
Stock Issued During Period, Shares, New Issues (in shares)	10,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001
Preferred Stock, Stated Value Per Share (in dollars per share)	$ 1,000
Preferred Stock, Convertible, Shares Issuable (in shares)	6,896,553
Preferred Stock, Convertible, Conversion Price (in dollars per share)	$ 1.45

Note 12 - Stockholders' Equity

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Equity [Text Block]

12.

STOCKHOLDERS’ EQUITY

The Company’s authorized capital consists of 150,000,000 shares of Common Stock and 5,000,000 shares of preferred stock, par value $0.0001 per share (“Preferred Stock”), of which 10,000 are designated as Series A Preferred Stock.

On July 3, 2023, the Company filed the Certificate of Designations with the State of Delaware, designating 10,000 shares of its Preferred Stock as Series A Convertible Preferred Stock. The terms of the Series A Preferred Stock are as set forth in the form of Certificate of Designations of the Series A Preferred Stock (the “Certificate of Designations”). The Series A Preferred Stock is convertible into shares of common stock (the “Conversion Shares”) at the election of the holder at any time at an initial conversion price of $1.45. The Conversion Price is subject to customary adjustments for stock dividends, stock splits, reclassifications and the like, and subject to price-based adjustment in the event of any issuances of common stock, or securities convertible, exercisable or exchangeable for common stock, at a price below the then-applicable Conversion Price (subject to certain exceptions).

The holders of the Series A Preferred Stock are entitled to dividends of 8% per annum, compounded monthly, which are payable in cash or shares of Common Stock, or a combination thereof, at the Company’s option in accordance with the terms of the Certificate of Designations. Upon the occurrence and during the continuance of a Triggering Event (as defined in the Certificate of Designations), the Series A Preferred Stock will accrue dividends at the rate of 20% per annum. If the Company elects to pay any dividends in shares of Common Stock, the Conversion Price used to calculate the number of shares issuable will equal to the lower of (i) the then applicable Conversion Price and (ii) 85% of the arithmetic average of the three (3) lowest closing prices of the Common Stock during the twenty (20) consecutive trading day period ending on the trading day immediately preceding the dividend payment date, provided that such price shall not be lower than the lower of (x) $0.2828 (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events ) and (y) 20% of the “Minimum Price” (as defined in Nasdaq Stock Market Rule 5635) on the date of the Stockholder Approval (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events) or, in any case, such lower amount as permitted, from time to time, by the Nasdaq Stock Market.

The holders of the Series A Preferred Stock have no voting rights, other than with respect to certain matters affecting the rights of the Series A Preferred Stock.

The Company may require holders to convert their shares of Series A Preferred Stock into shares of Common Stock if the closing price of the Company’s Common Stock exceeds $8.00 per share (subject to adjustment for stock splits, stock dividends, stock combinations, recapitalizations or other similar events) for 20 consecutive trading days and the daily dollar trading volume of the Common Stock exceeds $2,000,000 per day during the same period, provided that certain equity conditions described in the Certificate of Designations are satisfied.

At any time beginning 18 months from the date of the issuance, provided that provided that that the Company has filed all reports required to be filed by it pursuant to the Exchange Act on a timely basis for a continuous period of one year and provided further that certain equity conditions described in the Certificate of Designations are satisfied, the Company has the right to redeem in cash all or some of the shares of the Series A Preferred Stock outstanding at such time at a redemption price equal to the product of (x) 125% multiplied by (y) the sum of (A) the stated value of the Series A Preferred Stock plus (B) all declared and unpaid Dividends on such Preferred Stock and any other unpaid amounts then due and payable hereunder with respect to such Series A Preferred Stock, plus (C) the make-whole amount, plus (D) any accrued and unpaid late charges with respect to such stated value and amounts payable pursuant to clause (B) as of such date of determination.

On August 19, 2024, the Company entered into an Amendment Agreement (the “Series A Amendment”) with the Required Holders (as defined in the Certificate of Designations). Pursuant to the Series A Amendment, the Required Holders agreed that (A) the unpaid and accrued dividends on the Series A Preferred Stock due July 1, 2024 (the “July Delinquent Dividend Amount”), shall be payable, at the option of the Company, in (i) cash and/or (ii) shares of Common Stock, at a price per share of Common Stock equal to the lower of (x) $1.00 and (y) the Dividend Conversion Price (as defined in the Certificate of Designations), using July 1, 2024, as the applicable date of determination in accordance with the Certificate of Designations; (B) the dividends due on October 1, 2024 (the “October Dividend Amount” and, together with the July Delinquent Dividend Amount, the “Delinquent Dividend Amounts”), shall be payable in shares of Common Stock based on a per share price of Common Stock equal to 80% of the arithmetic average of the three (3) lowest closing sale prices of the Common Stock during the month of September 2024; and (C) such Delinquent Dividend Amounts and any Dividend Balance Shares (as defined in the Certificate of Designations), with respect thereto, if applicable, shall be delivered on October 1, 2024. The Company and the Required Holders further agreed pursuant to the Agreement to amend (i) the Certificate of Designations, as described below, by filing a Certificate of Amendment to the Certificate of Designations (the “Certificate of Amendment”) and (ii) the Series A Purchase Agreement to amend the definition of “Excluded Securities.”

The Certificate of Amendment amends the Certificate of Designations to, among other things, (A) allow for the payment of dividends in the form of Common Stock to a holder of the Series A Preferred Stock who serves as a director, officer or employee of the Company; provided that such issuance is approved by the Company’s stockholders prior to such issuance, and (B) amend certain conditions required for (i) a mandatory conversion of the Series A Preferred Stock, and (ii) the Company’s right to redeem, all or a portion, of the Series A Preferred Stock outstanding pursuant to an optional redemption, in each case, pursuant to the terms of the Certificate of Designations. The Certificate of Amendment was filed with the Secretary of State of the State of Delaware on August 23, 2024.

$2,036 of the net proceeds less transaction cost of the Series A Purchase Agreement was allocated to the Series A Preferred Stock. For the year ended December 31, 2023, authorized and declared dividends totaling $392 of which $58 was paid in cash $232 was paid in shares of the Company’s Common Stock and the balance of $102 was accrued in payables as of December 31, 2023. As of December 31, 2023, 102 Shares of Series A Preferred Stock were converted into approximately 77 thousand shares of Common Stock.

The Company’s failure to timely file its Annual Report on Form 10-K for the year ended December 31, 2023, its Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 and its Quarterly Report on Form 10-Q for the quarter ended June 30, 2024, each constituted a Triggering Event (the “Filing Triggering Events”) and equity conditions failures pursuant to the terms of the Certificate of Designations. As a result, the dividend rate of the Series A Preferred Stock was automatically increased to 20% per annum beginning on April 16, 2024, or the filing deadline of the Form 10-K for the year ended December 31, 2023, and shall continue until such date as the Filing Triggering Event is cured. As of the date of this Annual Report on Form 10-K for the year ended December 31, 2023, the Filing Triggering Event has not been cured.

- Definition

The entire disclosure for equity.

+ References

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+ Details

Note 4 - Financial Instruments

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Financial Instruments Disclosure [Text Block]

4.	FINANCIAL INSTRUMENTS

Assets and liabilities recorded at fair value on a recurring basis in the Consolidated Balance Sheets and assets and liabilities measured at fair value on a non-recurring basis or disclosed at fair value, are categorized based upon the level of judgment associated with inputs used to measure their fair values. The accounting guidance for fair value provides a framework for measuring fair value and requires certain disclosures about how fair value is determined. Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability (an exit price) in an orderly transaction between market participants at the measurement date. The accounting guidance also establishes a three-level valuation hierarchy that prioritizes the inputs to valuation techniques used to measure fair value based upon whether such inputs are observable or unobservable. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect market assumptions made by the reporting entity. The three-level hierarchy for the inputs to valuation techniques is briefly summarized as follows:

Level 1—Inputs are unadjusted, quoted prices in active markets for identical assets or liabilities at the measurement date;

Level 2—Inputs are observable, unadjusted quoted prices in active markets for similar assets or liabilities, unadjusted quoted prices for identical or similar assets or liabilities in markets that are not active, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the related assets or liabilities; and

Level 3—Unobservable inputs that are significant to the measurement of the fair value of the assets or liabilities that are supported by little or no market data.

The Company’s short-term investments consisting of US Treasury bill securities and Certificate of Deposits are classified as Level 1 because they are valued using quoted market prices.

The following table shows the Company’s short-term investments by significant investment category as of December 31, 2023 and 2022.

	As of December 31, 2023
	Adjusted		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
Level 1:
Money Market Funds	$	1,793	$	-	$	-	$	1,793
Certificate of Deposits		7,500		-		-		7,500
Total Financial Assets	$	9,293	$	-	$	-	$	9,293

	As of December 31, 2022
	Adjusted		Unrealized		Unrealized		Market
	Cost		Gains		Losses		Value
Level 1:
Money Market Funds	$	3,004	$	-	$	-	$	3,004
U.S. Treasury securities in short-term investments		9,849		100		-		9,949
Certificate of Deposits		4,000		-		-		4,000
Total Financial Assets	$	16,853	$	100	$	-	$	16,953

Unrealized gains or losses resulting from our short-term investments are recorded in accumulated other comprehensive gain or loss as they are classified as available for sale. During the year ended December 31, 2023 and 2022, $0 and $100 was recorded to accumulated other comprehensive loss and gain, respectively.

Warrant liabilities are measured at fair value on a recurring basis. The subsequent measurement of the warrant liabilities as of December 31, 2023, is classified as Level 3 due to the use of an observable market quote in a non-active market and the management’s assumption of the expected stock price volatility.

The following table presents the fair value in the beginning of the period, the changes in the fair value, and the fair value at the end of the period of warrant liabilities:

Level 3:	December 31, 2023
Fair value at inception or the beginning of the period	$	(7,717	)
Change in fair value of warrant liabilities		(11,986	)
Fair value as of December 31, 2023	$	(19,703	)

The Company uses the modified Black-Scholes option pricing model to determine the fair value of warrant liabilities. The following table summarizes the assumptions used to compute the fair value of Warrants:

	As of December 31, 2023
Expected stock price volatility		143	%
Risk-free interest rate		3.85	%
Dividends yield		0	%
Expected life of warrants (years)		4.50
Exercise price	$	1.45

Our other financial instruments also include accounts receivable, accounts payable, accrued liabilities and business acquisition liabilities. Due to the short-term nature of these instruments, their fair values approximate their carrying values on the balance sheet.

Note 17 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Net operating loss carryforwards	$ 17,002	$ 14,898
Sec. 174 capitalization	1,494	0
Research and development credits	81	65
Stock Based Compensation	1,447	1,216
Accruals and Other	995	324
Total deferred tax assets (gross)	21,018	16,503
Less valuation allowance	(20,302)	(15,969)
Net deferred tax assets	716	534
Depreciation and other	(716)	(534)
Net deferred tax liabilities	(716)	(534)
Net deferred income taxes	$ 0	$ 0

Note 20 - Subsequent Events

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Subsequent Events [Text Block]

20.

SUBSEQUENT EVENTS

On January 5, 2024, Chris DeAlmeida’s employment as Chief Financial Officer of the Company was terminated without cause, effective immediately, pursuant to a Separation Agreement and Mutual Release of Claims. The termination of Mr. DeAlmeida’s employment was not the result of any disagreement regarding any matter relating to the Company’s operations, policies, or practices.

On January 14, 2024, the Board of Directors appointed Scot Cohen the position of Executive Chairman and Chief Executive Officer. In connection therewith, the Company and Mr. Cohen entered into an amendment, dated January 14, 2024, to Mr. Cohen’s Employment Agreement, dated October 12, 2023, to among other things, reflect Mr. Cohen’s new title.

In connection with Mr. Cohen’s appointment as Chief Executive Officer, on January 14, 2024, the Board of Directors approved an amendment to the Non-Statutory Stock Option Agreement, dated as of October 12, 2023, between the Company and Mr. Cohen, providing that the stock options issued thereunder shall vest in four annual installments, provided that Mr. Cohen is still employed by the Company or an affiliate of the Company on the applicable vesting date. The other terms of the stock options remain unchanged. In addition, on January 18, 2024, the Board granted Mr. Cohen an award of 632,911 restricted shares of Common Stock of the Company under the Company’s 2017 Equity Compensation Plan, vesting upon the achievement of certain performance goals.

On January 14, 2024, the Board of Directors appointed Kevin Mullins to the position of President. In connection therewith, the Company and Mr. Mullins entered into an amendment, dated January 14, 2024, to Mr. Mullins’s Employment Agreement, dated April 13, 2022 to, among other things, reflect Mr. Mullin’s new title.

On April 5, 2024, the Board of Directors appointed Mr. Cohen to the position of Interim Principal Financial Officer and Principal Accounting Officer.

On April 24, 2024, the Company received notice from Rosenberg Rich Baker Berman, P.A. (“RRBB P.A.”) that it had resigned as the Company’s independent registered public accounting firm, effective immediately. The reports of RRBB P.A. on the Company’s financial statements for the fiscal years ended December 31, 2022 and December 31, 2021, did not contain an adverse opinion or a disclaimer of opinion, and were not qualified or modified as to uncertainty, audit scope, or accounting principles. During the fiscal years ended December 31, 2022, and December 31, 2021, and the subsequent interim period through April 24, 2024, there were no disagreements (as defined in Item 304(a)(1)(iv) of Regulation S-K and the related instructions to Item 304 of Regulation S K) with RRBB P.A. on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure, which disagreements, if not resolved to the satisfaction of RRBB P.A., would have caused RRBB P.A. to make reference to the subject matter of the disagreements in connection with its reports on the Company’s financial statements for such years. Also during this time, there were no “reportable events,” as defined in Item 304(a)(1)(v) of Regulation S K.

On May 7, 2024, Kevin Mullins notified the Company of his intention to resign from his position as President of the Company, effective May 23, 2024. Mr. Mullins’ resignation was not the result of any disagreement regarding any matter relating to the Company’s operations, policies, or practices.

On May 7, 2024, the Audit Committee of the Board of Directors engaged HTL International, LLC (“HTL”) as the Company’s independent registered public accounting firm for the fiscal year ended December 31, 2023, effective May 7, 2024. During the fiscal years ended December 31, 2023, 2022 and 2021, and the subsequent interim period from January 1, 2024 through May 7, 2024, neither the Company nor anyone on its behalf has consulted with HTL regarding (i) the application of accounting principles to any specified transaction, either completed or proposed, or the type of audit opinion that might be rendered on the Company's consolidated financial statements, and neither a written report nor oral advice was provided to the Company that HTL concluded was an important factor considered by the Company in reaching a decision as to any accounting, auditing or financial reporting issue, or (ii) any matter that was either the subject of a “disagreement” as defined in Item 304(a)(1)(iv) of Regulation S-K, or a “reportable event” as defined in Item 304(a)(1)(v) of Regulation S-K.

On May 28, 2024, Kevin Mullins, tendered his resignation from his role as director of the Company, effective as of May 28, 2024. Mr. Mullins’s resignation from the Board of Directors was not in connection with any disagreement between Mr. Mullins and the Company, its management, the Board of Directors or any committee of the Board of Directors on any matter relating to the Company’s operations, policies or practices, or any other matter.

Nasdaq Deficiency Notice

On April 18, 2024, the Company received a notice (the “Initial Notice”) from the Listing Qualifications Staff of the Nasdaq Stock Market LLC (“Nasdaq”) notifying the Company that as it has not yet filed its Annual Report on Form 10-K (the “2023 Form 10 K”) for the year ended December 31, 2023, the Company is not in compliance with Listing Rule 5250(c)(1) (the “Listing Rule”) for continued listing on Nasdaq. Additionally, on May 17, 2024, the Company received a notice (the “May Notice") from Nasdaq notifying the Company that as it has not yet filed its Quarterly Report on Form 10-Q (the “Q1 Form 10 Q”) for the three months ended March 31, 2024, that the Company is not in compliance with the Listing Rule.

On August 16, 2024, the Company received a notice (the “August Notice," and collectively with the Initial Notice and the May Notice, the “Notices”) from Nasdaq notifying the Company that as it has not yet filed its Quarterly Report on Form 10-Q (the “Q2 Form 10 Q,” and collectively with the 2023 Form 10-K and Q1 Form 10-Q, the “Delinquent Filings”) for the six months ended June 30, 2024, that the Company is not in compliance with the Listing Rule for continued listing on Nasdaq

The Company previously submitted a plan to Nasdaq to regain compliance with respect to the delinquent 2023 Form 10-K and Q1 Form 10-Q (the “Plan”), and Nasdaq granted an exception until August 30, 2024, to file the delinquent 2023 Form 10-K and Q1 Form 10-Q. Pursuant to the August Notice, the Company is required to submit an update to the Plan to Nasdaq no later than September 3, 2024, to regain compliance with respect to the filing requirements. Nasdaq may grant the Company an additional exception of up to a maximum of 180 calendar days from the filing due date of the 2023 Form 10-K to file all Delinquent Filings, or until October 14, 2024, to regain compliance.

The Notices do not have an immediate effect on the listing of the Company’s common stock. The Company is currently evaluating its options for regaining compliance. There can be no assurance that the Company will regain compliance with the Nasdaq’s rules or maintain compliance with any of the other Nasdaq continued listing requirements.

Series A Preferred Stock Amendment

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2023
Accounting Policies [Abstract]
Organization and Business Description [Policy Text Block]	Organization and Business Description Wrap Technologies, Inc., a Delaware corporation (the “Company”, “we”, “us”, and “our”), is a publicly traded company with its common stock, par value $0.0001 per share (“Common Stock”), listed on the Nasdaq Capital Market (“Nasdaq”) under the trading symbol “WRAP”. The Company is a developer and supplier of public safety products and training services for law enforcement and security personnel. The Company’s primary product is the BolaWrap® remote restraint device. The principal markets for the Company’s proprietary products and services are in North and South America, Europe, Middle East and Asia.
Consolidation, Policy [Policy Text Block]	Principles of Consolidation The Company has two wholly owned subsidiaries, Wrap Reality, Inc., an Arizona corporation, formed in December 2020 that sells a virtual reality (“VR”) training system primarily targeting law enforcement agencies and Intrensic, LLC, which the Company acquired in August 2023, which specializes in Body Worn Camera and Digital Evidence Management solutions. The consolidated financial statements include the accounts of these subsidiaries after elimination of intercompany transactions and accounts.
Use of Estimates, Policy [Policy Text Block]	Basis of Presentation and Use of Estimates The accompanying financial statements have been prepared on the accrual basis of accounting in conformity with accounting principles generally accepted in the United States of America (“US GAAP”). The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions (e.g., share-based compensation valuation, allowance for doubtful accounts, valuation of inventory and intangible assets, warranty reserve, accrued costs, valuation allowance related to deferred tax assets and recognition and measurement of contingencies) that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the financial statements and affect the reported amounts of revenues and expenses during the reporting period. Actual results could materially differ from those estimates.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	Concentrations of Risk Credit Risk – Financial instruments that potentially subject the Company to concentration of credit risk consisted primarily of cash, cash equivalents, US treasury bills and accounts receivable from customers. The Company maintains its cash and cash equivalent deposits at two domestic financial institutions. The Company is exposed to credit risk in the event of default by a financial institution to the extent that cash and cash equivalents are in excess of the amount insured by the Federal Deposit Insurance Corporation. The Company places its cash and cash equivalents with high-credit quality financial institutions and are managed within established guidelines to mitigate risks. To date, the Company has not experienced any losses on its cash and cash equivalents. Concentrations of Accounts Receivable and Revenue – The Company has a limited number of domestic and international customers. The Company may experience concentrations in both accounts receivable and revenue due to the timing of sales and collections of related payments (see Note 18). Concentration of Suppliers – The Company assembles its BolaWrap products in-house using components and subassemblies from a limited number of suppliers and contract suppliers. In particular, a single supplier is currently the sole manufacturer of the BolaWrap battery assembly, and another single supplier is the sole manufacturer of the propulsion component for BolaWrap cassettes. Other parts are solely sourced from other suppliers. If supplier shortages or logistic delays occur, or quality problems arise, production schedules could be significantly delayed or costs significantly increased, which could in turn have a material adverse effect on the Company’s financial condition, results of operation and cash flows.
Cash and Cash Equivalents, Policy [Policy Text Block]	Cash and Cash Equivalents The Company considers all highly liquid investments purchased with original maturities of three months or less from the purchase date to be cash equivalents. Cash equivalents consist primarily of amounts invested in Money Market Funds and US (“US”) Treasury bills and are stated at fair value.
Investment, Policy [Policy Text Block]	Short-Term Investments The Company’s short-term investments consist of certificates of deposits and US Treasury bills with original maturities beyond three months at the date of purchase and one year or less from the balance sheet date. As of December 31, 2023, all of the Company’s short-term investments were classified as available-for-sale and are carried at estimated fair value with any unrealized gains and losses, unrelated to credit loss factors, included in other comprehensive income in our consolidated statements of stockholders’ equity.
Share-Based Payment Arrangement [Policy Text Block]	Share-Based Compensation The Company follows the fair value recognition provisions issued by the FASB in ASC Topic 718, Stock Compensation (“ASC 718”) and has adopted Accounting Standards Update (“ASU”) 2018-07 for share-based transactions with non-employees. Share-based compensation expense recognized during 2023 and 2022 includes stock option and restricted stock unit compensation expense. The grant date fair value of stock options is determined using the Black-Scholes option-pricing model. The grant date is the date at which an employer and employee or non-employee reach a mutual understanding of the key terms and conditions of a share-based payment award and approved by the Company’s Board of Directors. The Black-Scholes option-pricing model requires inputs including the market price of the Company’s Common Stock on the date of grant, the term that the stock options are expected to be outstanding, the implied stock volatilities of several publicly traded peers over the expected term of stock options, risk-free interest rate and expected dividend. Each of these inputs is subjective and generally requires significant judgment to determine. The grant date fair value of restricted stock units is based upon the market price of the Company’s Common Stock on the date of the grant. We determine the amount of share-based compensation expense based on awards that we ultimately expect to vest and account for forfeitures as they occur. The fair value of share-based compensation is amortized to compensation expense over the vesting term.
Earnings Per Share, Policy [Policy Text Block]	Loss per Share Basic loss per share (EPS) is computed by dividing net loss, less any dividends, accretion or decretion, redemption or induced conversion, if any, on our Series A Convertible Preferred Stock, by the weighted average number of shares outstanding during the reported period. In computing diluted EPS, we adjust the numerator used in the basic EPS computation, subject to anti-dilution requirements, to add back the dividends (declared or cumulative undeclared) applicable to the Series A Convertible Preferred Stock. Such add-back would also include any adjustments to equity in the period to accrete the Series A Convertible Preferred Stock to its redemption price, or recorded upon a redemption or induced conversion, if any. We adjust the denominator used in the basic EPS computation, subject to anti-dilution requirements, to include the dilution from potential shares resulting from the issuance of the Series A Convertible Preferred Stock, restricted stock units, and stock options. Stock options and restricted stock units exercisable or issuable for a total of 5,468,223 and 6,413,731 shares of Common Stock were outstanding at December 31, 2023 and 2022, respectively. These securities are not included in the computation of diluted net loss per common share for the periods presented as their inclusion would be antidilutive due to losses incurred by the Company.
Accounts Receivable [Policy Text Block]	Accounts Receivable and Allowance for Credit Losses ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) requires that financial assets measured at amortized cost be presented at the net amount expected to be collected. The expected credit losses are developed using an estimated loss rate method that considers historical collection experience, current conditions, and reasonable and supportable forecasts that affect the collectability of the reported amount. The estimated loss rates are applied to accounts receivables with similar risk characteristics such as the length of time the balance has been outstanding and the location of the customer. In certain instances, the Company may identify individual accounts receivable assets that do not share risk characteristics with other accounts receivables, in which case the Company records its expected credit losses on an individual asset basis. If an accounts receivable asset is evaluated on an individual basis, the Company excludes those assets from the portfolios of accounts receivables evaluated on a collective basis. At December 31, 2023 and 2022, the Company had an allowance for credit losses related to accounts receivable of $386 and $205, respectively. If a major customer’s creditworthiness deteriorates, or actual defaults exceed our historical experience, such estimates could change and impact our future reported financial results.
Inventory, Policy [Policy Text Block]	Inventories Inventories are valued at the lower of cost or net realizable value. The cost of substantially all the Company’s inventory is determined by the FIFO cost method. Inventory is comprised of raw materials, assemblies and finished products intended for sale to customers. The Company evaluates the need for reserves for excess and obsolete inventories determined primarily based upon estimates of future demand for the Company’s products. As of December 31, 2023 and 2022 the Company had $465 and $0 reserves, respectively for obsolescence.
Property, Plant and Equipment, Policy [Policy Text Block]	Property, Equipment and Depreciation Property and equipment is stated at cost. Depreciation on property and equipment is computed over the estimated useful lives of three years using the straight-line method. On any retirement or disposition of property and equipment, the related cost and accumulated depreciation or amortization is removed, and a gain or loss recorded.
Business Combinations Policy [Policy Text Block]	Business Combinations The Company accounts for its business combinations under the provisions of Accounting Standards Codification ("ASC") Topic 805-10, Business Combinations ("ASC 805-10"), which requires that the purchase method of accounting be used for all business combinations. Assets acquired and liabilities assumed, including non-controlling interests, are recorded at the date of acquisition at their respective fair values. The estimated fair value of net assets acquired, including the allocation of the fair value to identifiable assets and liabilities, was determined using established valuation techniques. ASC 805-10 also specifies criteria that intangible assets acquired in a business combination must meet to be recognized and reported apart from goodwill. Goodwill represents the excess purchase price over the fair value of the tangible net assets and intangible assets acquired in a business combination. Acquisition-related expenses are recognized separately from the business combinations and are expensed as incurred. The estimated fair value of the acquired intangible assets was determined using a method which reflects the present value of the operating cash flows generated by this asset after taking into account the cost to realize the revenue, and an appropriate discount rate to reflect the time value and risk associated with the invested capital. Certain adjustments to the assessed fair values of the assets and liabilities made subsequent to the acquisition date, but within the measurement period, which is up to one year, are recorded as adjustments to goodwill. Any adjustments subsequent to the measurement period are recorded in income.
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block]	Goodwill Goodwill represents the difference, if any, between the aggregate consideration paid for an acquisition and the fair values of the underlying net assets and liabilities assumed from an acquired business. Goodwill is not amortized, but instead is tested for impairment. The Company tests goodwill for impairment on an annual basis during the fourth quarter, or more frequently if conditions indicate that such impairment could exist. The Company evaluates qualitative factors to determine if it is more likely than not that the fair value of a reporting unit is less than its carrying value and whether it is necessary to perform goodwill impairment process.
Intangible Assets, Finite-Lived, Policy [Policy Text Block]	Definite-lived Intangible Assets Definite-lived intangible assets represent certain trade names, patents, licenses, software, acquired technology and customer relationships. Definite-lived intangible assets are recorded at cost less any accumulated amortization and accumulated impairment losses, if any. Definite-lived intangible assets acquired through the business combination are measured at fair value at the acquisition date. The Company amortizes these acquired definite-lived intangibles assets with a finite life on a straight-line basis, over 6 years for technology; 7 years for customer relationships; and 8 years for trademarks and trade names.
Goodwill and Intangible Assets, Intangible Assets, Policy [Policy Text Block]	Intangible Assets Intangible assets consist of (a) capitalized legal fees and filing costs related to obtaining patents and trademarks, (b) tradenames and software, (c) purchased software, and (d) the purchase cost of indefinite-lived website domains. The estimated useful lives of identifiable intangible assets with definite useful lives have been estimated to be between one and twenty years. Purchased website domain costs with an indefinite useful life are not subject to amortization, but are subject to an annual impairment test, by comparing their carrying amount with their corresponding fair value. For any given intangible asset with an indefinite useful life, if its fair value exceeds its carrying amount no impairment loss shall be recognized. The carrying value of intangibles is periodically reviewed and impairments, if any, are recognized when the future undiscounted cash flows realized from the assets is less than its carrying value.
Impairment or Disposal of Long-Lived Assets, Including Intangible Assets, Policy [Policy Text Block]	Impairment of Long-Lived Assets Long-lived assets and identifiable intangibles held for use are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. If the sum of undiscounted expected future cash flows is less than the carrying amount of the asset or if changes in facts and circumstances indicate, an impairment loss is recognized and measured using the asset’s fair value. In December 2023, it was determined that the intangible related to development of proprietary software by Lumeto, Inc. would not have future economic value and was written down; the Company recognized an impairment loss of $700. The Company did not recognize any impairment loss during the year ended December 31, 2022.
Classification and Valuation of Warrants [Policy Text Block]	Warrants The Company accounts for warrants as liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common stock and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding. For issued warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. The Company accounts for the warrants issued in accordance with the guidance contained in ASC 815-40-15-7C, under which the warrants do not meet the criteria for equity treatment and must be recorded as liabilities. Accordingly, the Company classifies the warrants as liabilities at their fair value and adjusts the warrants to fair value at each reporting period. This liability is subject to re-measurement at each balance sheet date until exercised, and any change in fair value is recognized in the Company’s condensed consolidated statement of operations.
Stockholders' Equity, Policy [Policy Text Block]	Convertible Preferred Stocks The Company evaluates and accounts for conversion options embedded in its convertible instruments in accordance with ASC 480 and ASC 815 to determine if those instruments or embedded components of those instruments qualify as derivatives and are subject to bifurcation accounting. The Company determines that the economic characteristics and risks of the embedded derivative instrument are clearly and closely related to the economic characteristics and risks of the host contract. The convertible instruments are accounted for as a single hybrid instrument. Additionally, the convertible instruments do not have any redemption features that would preclude permanent equity classification in accordance with the guidance contained in ASC 480-10-S99.
Advertising Cost [Policy Text Block]	Advertising and Promotion Costs Advertising costs are charged to expense as incurred and were $925 and $426 for the years ended December 31, 2023 and 2022, respectively. The Company also incurred product promotion costs for demonstration products delivered to prospective customers of $225 and $688 for the years ended December 31, 2023 and 2022, respectively. Advertising and promotion costs are included in selling, general and administrative expenses in the accompanying statements of operations.
Demonstration and Training Costs [Policy Text Block]	Demonstration and Training Costs The Company maintains a demonstration and training department as a part of its sales and marketing activities and does not charge for product demonstrations or training. Training is not a condition or requirement of sale as most sales are made through distributors to their end customers. The Company conducts local and regional in-person, webinar and on-line demonstrations and use of force and escalation training to support law enforcement agencies with no purchase requirement. Such training, when provided, may occur before or after initial or subsequent purchase or field deployment of the Company’s products. The Company believes that law enforcement trainers and officers that have seen demonstrations or have been trained about its products are more supportive of their departments purchase and deployment of product.
Research and Development Expense, Policy [Policy Text Block]	Research and Development Costs Research and development costs are expensed as incurred.
Contract Manufacturers Policy [Policy Text Block]	Contract Manufacturers The Company employs contract manufacturers for production of certain components and sub-assemblies. The Company may provide parts and components to such parties from time to time but recognizes no revenue or markup on such transactions.
Lessee, Leases [Policy Text Block]	Leases The Company adopted ASC Topic 842, Leases (“Topic 842”) on January 1, 2019. In accordance with the guidance in Topic 842, the Company recognizes lease liabilities and corresponding right-of-use-assets for all leases with terms of greater than 12 months. Leases with a term of 12 months or less will be accounted for in a manner similar to the guidance for operating leases prior to the adoption of Topic 842. Refer to Note 9, Leases for more information.
Revenue from Contract with Customer [Policy Text Block]	Revenue Recognition The Company adopted ASC Topic 606, Revenue from Contracts with Customers on January 1, 2018. The Company enters into contracts that include various combinations of products, accessories, software and services, each of which are generally distinct and are accounted for as separate performance obligations. Product sales include BolaWrap products and accessories. Other revenue includes VR revenues, service, training and shipping revenues. The timing of revenue recognition may differ from the timing of invoicing to customers. The Company generally has an unconditional right to consideration when customers are invoiced, and a receivable is recorded. A contract asset is recognized when revenue is recognized prior to invoicing, or a contract liability (deferred revenue) when revenue will be recognized subsequent to invoicing. The Company recognizes an asset if there are incremental costs of obtaining a contract with a customer such as commissions. These costs are ascribed to or allocated to the underlying performance obligations in the contract. The Company may receive consideration, per terms of a contract, from customers prior to transferring goods to the customer. The Company records customer deposits as a contract liability. Additionally, the Company may receive payments, most typically for service and warranty contracts, at the onset of the contract and before the services have been performed. In such instances, a deferred revenue liability is recorded. The Company recognizes these contract liabilities as revenue after all revenue recognition criteria are met. Estimated costs for the Company’s standard warranty, generally one-year, are charged to cost of products sold when revenue is recorded for the related product. Royalties are also charged to cost of products sold.
Shipping and Handling Costs [Policy Text Block]	Shipping and Handling Costs Shipping and handling costs are included in cost of revenues. Shipping and handling costs invoiced to customers are included in revenue. Actual shipping and handling costs were $200 and $296 for the years ended December 31, 2023 and 2022, respectively. Actual revenues from shipping and handling were $37 and $109 for the years ended December 31, 2023 and 2022, respectively.
Standard Product Warranty, Policy [Policy Text Block]	Warranty Reserves The Company warrants its products and accessories to be free from defects in materials and workmanship for a period of one year from the date of purchase. The warranty is generally limited. The Company currently provides direct warranty service. International market warranties are generally similar to the US market. The Company establishes a warranty reserve based on anticipated warranty claims at the time product revenues are recognized. Factors affecting warranty reserve levels include the number of units sold, anticipated cost of warranty repairs and anticipated rates of warranty claims. The Company evaluates the adequacy of the provision for warranty costs each reporting period. The warranty reserve was $72 and $125 at December 31, 2023 and 2022. Actual warranty costs could differ from estimates.
Segment Reporting, Policy [Policy Text Block]	Segment Information ASC Topic 280, “Segment Reporting,” requires use of the “management approach” model for segment reporting. The management approach model is based on the way a company’s management organizes segments within the company for making operating decisions and assessing performance. The Company operates as a single segment and will evaluate additional segment disclosure requirements as it expands its operations.
Income Tax, Policy [Policy Text Block]	Income Taxes No income tax expense was recorded for the periods ended December 31, 2023 and 2022 due to losses incurred. Deferred tax assets and liabilities are determined based on temporary differences between the bases of certain assets and liabilities for income tax and financial reporting purposes. The Company maintains a valuation allowance with respect to deferred tax assets. The Company establishes a valuation allowance based upon the potential likelihood of realizing the deferred tax asset and taking into consideration the Company’s financial position and results of operations for the current period. Future realization of the deferred tax benefit depends on the existence of sufficient taxable income within the carry-forward period under the Federal tax laws. Changes in circumstances, such as the Company generating taxable income, could cause a change in judgment about the realizability of the related deferred tax asset. Any change in the valuation allowance will be included in income in the year of the change in estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	Recently Issued Accounting Guidance The Company has reviewed recently issued, but not yet effective, accounting pronouncements and does not believe the future adoptions of any such pronouncements will be expected to cause a material impact on its financial condition or the results of operations. In July 2023, the SEC adopted the final rule under SEC Release No. 33-11216, Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure, requiring disclosure of material cybersecurity incidents on Form 8-K and periodic disclosure of a registrant’s cybersecurity risk management, strategy and governance in annual reports. Regulation S-K Item 6 disclosure requirements under this rule will be effective for us in the fourth quarter of 2023. Incident disclosure requirements in Form 8-K will be effective for us on June 15, 2024. We are still evaluating for any impact on our financial statement disclosures from the adoption of this final rule.

Note 9 - Leases (Details Textual) - USD ($)	12 Months Ended
Note 9 - Leases (Details Textual) - USD ($)	Dec. 31, 2023	Dec. 31, 2022
Operating Lease, Right-of-Use Asset, Periodic Reduction	$ 138,000	$ 101,000
Operating Lease, Cost	$ 177,000	118,000
Operating Lease, Weighted Average Remaining Lease Term	6 years 9 months 7 days
Operating Lease, Weighted Average Discount Rate, Percent	14.20%
Variable Lease, Cost	$ 8,000	39,000
Short-Term Lease, Cost	$ 92	$ 11

Consolidated Balance Sheets (Parentheticals) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Preferred Stock, Shares Authorized (in shares)	5,000,000	5,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares Authorized (in shares)	150,000,000	150,000,000
Common Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Common Stock, Shares, Issued (in shares)	43,855,503	41,175,993
Common Stock, Shares, Outstanding, Ending Balance (in shares)	43,855,503	41,175,993
Convertible Preferred Stock [Member]
Preferred Stock, Shares Authorized (in shares)	10,000	10,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)	$ 0.0001	$ 0.0001
Preferred Stock, Shares Issued (in shares)	9,898	0
Preferred Stock, Shares Outstanding (in shares)	9,898	0

Note 2 - Revenues and Product Costs (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Contract with Customer, Asset, after Allowance for Credit Loss, Total	$ 0	$ 0
Extended Warranties and Services, VR, and Training [Member]
Contract with Customer, Liability	544	333
Extended Product Warranties [Member] \| BolaWrap [Member]
Contract with Customer, Liability	139	124
Extended Product Warranties [Member] \| Intrensic [Member]
Contract with Customer, Liability	216
Virtual Reality Training [Member]
Contract with Customer, Liability	171	198
Training [Member]
Contract with Customer, Liability	$ 18	$ 11

Note 4 - Financial Instruments - Fair Value Assumptions (Details)	Dec. 31, 2023
Measurement Input, Price Volatility [Member]
Warrants, measurement input	1.43
Measurement Input, Risk Free Interest Rate [Member]
Warrants, measurement input	0.0385
Measurement Input, Expected Dividend Rate [Member]
Warrants, measurement input	0
Measurement Input, Expected Term [Member]
Warrants, measurement input	4.5
Measurement Input, Exercise Price [Member]
Warrants, measurement input	1.45

Note 5 - Inventories (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Schedule of Inventory, Current [Table Text Block]

	December 31,
	2023			2022
Finished goods	$	3,521		$	2,293
Raw materials		2,738			1,682
Reserve for Obsolescence		(465	)		-
Inventories – net	$	5,794		$	3,975

Note 13 - Share-based Compensation (Tables)

12 Months Ended

Dec. 31, 2023

Notes Tables

Share-Based Payment Arrangement, Option, Activity [Table Text Block]

				Weighted Average
	Options on					Remaining		Aggregate
	Common			Exercise		Contractual		Intrinsic
	Shares			Price		Term		Value
Outstanding January 1, 2023		5,491,399		$	3.72		5.96	$	92
Granted		2,592,309		$	1.68
Exercised		(123,056	)	$	1.69
Forfeited, cancelled, expired		(3,303,017	)	$	3.80
Outstanding December 31, 2023		4,657,635		$	2.52		8.75	$	3,979
Exercisable December 31, 2023		1,160,580		$	4.02		7.86	$	274

Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions [Table Text Block]

	For the Year Ended
	December 31,
	2023			2022
Expected stock price volatility		76	%		49	%
Risk-free interest rate		4.21	%		2.47	%
Forfeiture rate		0	%		0	%
Expected dividend yield		0	%		0	%
Expected life of options – years		6.00			5.96
Weighted-average fair value of options granted	$	1.33		$	0.88

Share-Based Payment Arrangement, Option, Exercise Price Range [Table Text Block]

					Weighted
					Average		Weighted				Weighted
					Remaining		Average				Average
Range of			Number		Contractual		Exercise		Number		Exercise
Exercise Prices			Outstanding		Life (Years)		Price		Exercisable		Price
1.00	–	2.00		2,084,503		9.59	$	1.44		75,527	$	1.79
2.01	–	3.00		1,675,699		8.00	$	2.76		487,967	$	2.69
3.01	–	4.00		250,000		10.00	$	3.10		-	$	-
4.01	–	25.00		647,433		5.57	$	5.39		597,086	$	5.39

Schedule of Nonvested Restricted Stock Units Activity [Table Text Block]

				Weighted Average		Weighted Average
	Service-Based			Grant Date		Vesting
	RSU's			Fair Value		Period (Years)
Unvested at January 1, 2022		269,303		$	6.47		2.0
Granted - service based		988,850		$	2.49
Vested		(268,548	)	$	4.13
Forfeited and cancelled		(67,273	)	$	6.45
Unvested at December 31, 2022		922,332		$	2.88		2.11
Granted - service based		1,289,784		$	1.41
Vested		(1,056,360	)	$	1.83
Forfeited and cancelled		(345,168	)	$	2.70
Unvested at December 31, 2023		810,588		$	1.73		2.52

Disclosure of Share-Based Compensation Arrangements by Share-Based Payment Award [Table Text Block]

	For the Year Ended
	December 31,
	2023		2022
Selling, general and administrative	$	1,696	$	2,684
Research and development		289		541
Total share-based expense	$	1,985	$	3,225

Note 9 - Leases - Future Lease Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
2024	$ 443
2025	567
2026	507
2027	522
2028	538
Thereafter	1,271
Total future minimum lease payments	3,848
Less imputed interest	(1,561)
Total	$ 2,287

Note 2 - Revenues and Product Costs

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Revenue from Contract with Customer [Text Block]

2.	REVENUES AND PRODUCT COSTS

Revenues consist of product revenue and other revenue. Product sales include BolaWrap products and accessories. Other revenue includes VR revenues, service, training and shipping revenues.

The table below details the activity in our contract liabilities during the year ended December 31, 2023.

	Customer		Deferred
	Deposits		Revenue
Balance at January 1, 2023	$	-	$	333
Additions, net		1,002		407
Transfer to revenue		-		(196	)
Balance at December 31, 2023	$	1,002	$	544
Current portion	$	1,002	$	407
Long-term portion	$	-	$	137

As of December 31, 2023, the Company’s deferred revenue of $544 consisted of $139 related to BolaWrap extended warranties and services, $216 related to Intrensic extended warranties and services, $171 related to VR, and $18 related to training.

As of December 31, 2022, the Company’s deferred revenue of $333 consisted of $198 related to VR, $11 related to training, and $124 related to BolaWrap extended warranties and services.

The Company recognizes an asset if there are incremental costs of obtaining a contract with a customer such as commissions. These costs are ascribed to or allocated to the underlying performance obligations in the contract and amortized consistent with the recognition timing of the revenue for any such underlying performance obligations. The Company had no such assets as of December 31, 2023 and 2022. The Company will apply the practical expedient to expense any sales commissions related to performance obligations with an amortization of one year or less when incurred within selling, general and administrative expense.

- Definition

The 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.

+ References

Reference 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

Note 6 - Property and Equipment, Net - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Property and equipment, gross	$ 1,915	$ 1,673
Accumulated depreciation	(1,406)	(915)
Property and equipment, net	509	758
Production and Lab Equipment [Member]
Property and equipment, gross	542	513
Tooling [Member]
Property and equipment, gross	562	448
Computer Equipment [Member]
Property and equipment, gross	615	531
Furniture and Fixtures [Member]
Property and equipment, gross	$ 196	$ 181

Note 13 - Share-based Compensation

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Share-Based Payment Arrangement [Text Block]

13.

SHARE-BASED COMPENSATION

On March 31, 2017, the Company adopted, and the stockholders approved, the 2017 Stock Incentive Plan (the “Plan”) authorizing 2,000,000 shares of Common Stock for issuance as awards to employees, directors or consultants. In May 2019, the stockholders authorized an increase in the Plan authorizing an additional 2,100,000 shares of Common Stock, in June 2020 authorized an additional 1,900,000 shares of Common Stock, in June 2021 authorized an additional 1,500,000 shares of Common Stock and in June 2022 authorized an additional 1,500,000 shares of Common Stock, for a total of 9,000,000 shares subject to the Plan. At December 31, 2023, there were 1,391,183 shares of Common Stock remaining available for grant under the Plan.

The Company generally recognizes share-based compensation expense on the grant date and over the period of vesting or period that services will be provided. In April 2023, the Company recognized severance acceleration of $112 of share-based compensation expense resulting from the resignation of the Company’s former Chief Executive Officer and Chief Operating Officer due to a reduction in force that resulted in changes in the composition of the executives of the Company.

The following table summarizes stock option activity for the year ended December 31, 2023:

				Weighted Average
	Options on					Remaining		Aggregate
	Common			Exercise		Contractual		Intrinsic
	Shares			Price		Term		Value
Outstanding January 1, 2023		5,491,399		$	3.72		5.96	$	92
Granted		2,592,309		$	1.68
Exercised		(123,056	)	$	1.69
Forfeited, cancelled, expired		(3,303,017	)	$	3.80
Outstanding December 31, 2023		4,657,635		$	2.52		8.75	$	3,979
Exercisable December 31, 2023		1,160,580		$	4.02		7.86	$	274

At December 31, 2023, there were 2,675,071 service-based stock options outstanding, and 1,982,564 performance-based stock options outstanding, of which 692,398 performance-based stock options were granted in April 2022 to the Company’s previous Chief Executive Officer and 1,290,166 were granted in October 2023 to the Company's current Chief Executive Officer subject to future market capitalization targets.

The Company uses the Black-Scholes option pricing model to determine the fair value of service-based options granted. The following table summarizes the assumptions used to compute the fair value of options granted to employees and non-employees:

	For the Year Ended
	December 31,
	2023			2022
Expected stock price volatility		76	%		49	%
Risk-free interest rate		4.21	%		2.47	%
Forfeiture rate		0	%		0	%
Expected dividend yield		0	%		0	%
Expected life of options – years		6.00			5.96
Weighted-average fair value of options granted	$	1.33		$	0.88

Estimated volatility is a measure of the amount by which the Company’s stock price is expected to fluctuate each year during the expected life of awards. The Company’s estimated volatility was based on an average of the historical volatility of peer entities whose stock prices were publicly available. The Company’s calculation of estimated volatility is based on historical stock prices of these peer entities over a period equal to the expected life of the awards. The Company uses the historical volatility of peer entities due to the lack of sufficient historical data of its stock price. The Company records forfeitures as they are incurred.

The risk-free interest rate assumption is based upon observed interest rates on zero coupon U.S. Treasury bonds whose maturity period is appropriate for the term of the options. The dividend yield of zero is based on the fact that the Company has never paid cash dividends and has no present intention to pay cash dividends. The Company calculates the expected life of the options using the Simplified Method for the employee stock options as the Company does not have sufficient historical exercise data.

The Company used the Monte Carlo Simulation Model to value at the grant date the aggregate of 1,290,166 market condition performance options granted in October 2023 to the Company’s Chief Executive Officer. The assumptions used in the Monte Carlo Simulation were stock price on date of grant of $1.40, contract term of 10 years, expected volatility of 76% and risk-free interest rate of 4.65 %. Vesting is based on sustained market capitalization of $100 million, $150 million and $200 million and expected to be exercised at the midpoint of the vesting period resulted in implied service periods ranging from approximately 1 to 3 years.

Stock option expense was $967 and $1,770 for the years ended December 31, 2023 and 2022, respectively.

The following table summarizes information about stock options outstanding at December 31, 2023:

					Weighted
					Average		Weighted				Weighted
					Remaining		Average				Average
Range of			Number		Contractual		Exercise		Number		Exercise
Exercise Prices			Outstanding		Life (Years)		Price		Exercisable		Price
1.00	–	2.00		2,084,503		9.59	$	1.44		75,527	$	1.79
2.01	–	3.00		1,675,699		8.00	$	2.76		487,967	$	2.69
3.01	–	4.00		250,000		10.00	$	3.10		-	$	-
4.01	–	25.00		647,433		5.57	$	5.39		597,086	$	5.39

Restricted Stock Units

The Plan provides for the grant of restricted stock units (“RSUs”). RSUs are settled in shares of the Company’s Common Stock as the RSUs become vested. The following table summarizes RSU activity for the years ended December 31, 2023 and 2022:

				Weighted Average		Weighted Average
	Service-Based			Grant Date		Vesting
	RSU's			Fair Value		Period (Years)
Unvested at January 1, 2022		269,303		$	6.47		2.0
Granted - service based		988,850		$	2.49
Vested		(268,548	)	$	4.13
Forfeited and cancelled		(67,273	)	$	6.45
Unvested at December 31, 2022		922,332		$	2.88		2.11
Granted - service based		1,289,784		$	1.41
Vested		(1,056,360	)	$	1.83
Forfeited and cancelled		(345,168	)	$	2.70
Unvested at December 31, 2023		810,588		$	1.73		2.52

482,143 of the 1,289,784 RSUs granted included in the table above were granted in October 2023 are performance based RSUs, subject to vesting terms based on future market capitalization.

RSU expense was $1,018 and $1,455 for the years ended December 31, 2023 and 2022, respectively.

Share-Based Compensation Expense

The Company recorded share-based compensation in its statements of operations for the relevant periods for options and RSUs as follows:

	For the Year Ended
	December 31,
	2023		2022
Selling, general and administrative	$	1,696	$	2,684
Research and development		289		541
Total share-based expense	$	1,985	$	3,225

As of December 31, 2023, total estimated compensation cost of stock options granted and outstanding but not yet vested was $3,103 which is expected to be recognized over the weighted average period of 2.65 years.

As of December 31, 2023, total estimated compensation cost of RSUs granted and outstanding but not yet vested was $1,144 which is expected to be recognized over the weighted average period of 1.81 years.

Note 14 - Defined Contribution Plan

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Defined Contribution Plan [Text Block]

14.

DEFINED CONTRIBUTION PLAN

The Company has a defined contribution savings plan for all eligible U.S. employees established under the provisions of Section 401(k) of the Internal Revenue Code. This plan was formed on January 1, 2022. Eligible employees may contribute a percentage of their salary subject to certain limitations. The Company’s contributions for the years ended December 31, 2023 and 2022, was $0 and $0, respectively.

Note 12 - Share-based Compensation - Summary of Stock Option Valuation Assumptions (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Forfeiture rate	0.00%	0.00%
Weighted-average fair value of options granted (in dollars per share)	$ 1.33	$ 0.88
Share-Based Payment Arrangement, Option [Member]
Expected stock price volatility	76.00%	49.00%
Risk-free interest rate	4.21%	2.47%
Expected dividend yield	0.00%	0.00%
Expected life of options – years (Year)	6 years	5 years 11 months 15 days

Note 9 - Leases

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Lessee, Operating Leases [Text Block]

9.	LEASES

The Company determines if an arrangement is a lease at inception. The guidance in FASB ASC Topic 842, Leases defines a lease as a contract, or part of a contract, that conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration. Operating lease right of use (“ROU”) assets and lease liabilities are recognized based on the present value of future minimum lease payments over the lease term at commencement date. The Company’s leases do not provide an implicit rate. Due to a lack of financing history or ability, the Company uses an estimate of low-grade debt rate published by the Federal Reserve Bank as its incremental borrowing rate based on the information available at the commencement date in determining the present value of future payments. The ROU asset includes any lease payments made and excludes lease incentives and initial direct costs incurred.

For leases beginning on or after January 1, 2019, lease components are accounted for separately from non-lease components for all asset classes. On January 21, 2023, the Company’s lease was amended to extend the expiration date to July 31, 2025. Upon execution of the amendment, which was deemed a lease modification, the Company reassessed the lease liability using the discount rate determined at the modification date and recorded an additional ROU asset for the same amount. The Company’s lease contains renewal provisions and escalating rental clauses and generally requires the Company to pay utilities, insurance, taxes and other operating expenses. The renewal provisions of the existing lease agreement were not included in the determination of the operating lease liabilities and the ROU assets. The Company also reassessed the lease classification and concluded that the lease continues to be an operating lease.

Amortization of ROU operating lease assets was $138 and $101 for the years ended December 31, 2023 and 2022, respectively.

Operating lease expense for capitalized operating leases included in operating activities was $177 and $118 for the years ended December 31, 2023 and 2022, respectively. Operating lease obligations recorded on the balance sheet at December 31, 2023 are:

Operating lease liability- short term	$	616
Operating lease liability - long term		1,671
Total Operating Lease Liability	$	2,287

Future lease payments included in the measurement of lease liabilities on the balance sheet at December 31, 2023 for future periods are as follows

2024	$	443
2025		567
2026		507
2027		522
2028		538
Thereafter		1,271
Total future minimum lease payments		3,848
Less imputed interest		(1,561	)
Total	$	2,287

The weighted average remaining lease term is 6.77 years, and the weighted average discount rate is 14.2%.

Certain leases contain provisions for payment of real estate taxes, insurance and maintenance costs by the Company. These expenses are treated as variable lease payments and recognized in the period in which the obligation for those payments was incurred. The Company had $8 and $39 variable lease expenses during the year December 31, 2023 or 2022.

The Company had $92 and $11 short-term lease expense during the year December 31, 2023, or 2022. The Company does not have any finance leases.

Note 13 - Share-based Compensation (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended							12 Months Ended
	Oct. 31, 2023	Apr. 30, 2023	Jun. 30, 2022	Apr. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	May 31, 2019	Dec. 31, 2023	Dec. 31, 2022	Mar. 31, 2017
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number								4,657,635	5,491,399
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross								2,592,309
Share-Based Payment Arrangement, Expense								$ 1,985	$ 3,225
Share-Based Payment Arrangement, Option [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Dividend Rate								0.00%	0.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term								6 years	5 years 11 months 15 days
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate								76.00%	49.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate								4.21%	2.47%
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount								$ 3,103
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition								2 years 7 months 24 days
Restricted Stock Units (RSUs) [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	482,143							1,289,784	988,850
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount								$ 1,144
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition								1 year 9 months 21 days
The 2017 Stock Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized			9,000,000							2,000,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Additional Shares Authorized			1,500,000		1,500,000	1,900,000	2,100,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Available for Grant								1,391,183
Share-Based Payment Arrangement, Accelerated Cost		$ 112
The 2017 Stock Incentive Plan [Member] \| Service-based Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number								2,675,071
The 2017 Stock Incentive Plan [Member] \| Performance-based Options [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Outstanding, Number								1,982,564
The 2017 Stock Incentive Plan [Member] \| Performance-based Options [Member] \| Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross	1,290,166			692,398
The 2017 Stock Incentive Plan [Member] \| Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense								$ 967	$ 1,770
The 2017 Stock Incentive Plan [Member] \| Performance Shares [Member] \| Chief Executive Officer and President [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross	1,290,166
Share Price	$ 1.4
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Term	10 years
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Expected Volatility Rate	76.00%
Share-Based Compensation Arrangement by Share-Based Payment Award, Fair Value Assumptions, Risk Free Interest Rate	4.65%
The 2017 Stock Incentive Plan [Member] \| Performance Shares [Member] \| Chief Executive Officer and President [Member] \| Minimum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Requisite Service Period	1 year
The 2017 Stock Incentive Plan [Member] \| Performance Shares [Member] \| Chief Executive Officer and President [Member] \| Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Award Requisite Service Period	3 years
The 2017 Stock Incentive Plan [Member] \| Performance Shares [Member] \| Chief Executive Officer and President [Member] \| Share-Based Payment Arrangement, Tranche One [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vesting, Sustained Market Capitalization	$ 100,000
The 2017 Stock Incentive Plan [Member] \| Performance Shares [Member] \| Chief Executive Officer and President [Member] \| Share-Based Payment Arrangement, Tranche Two [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vesting, Sustained Market Capitalization	150,000
The 2017 Stock Incentive Plan [Member] \| Performance Shares [Member] \| Chief Executive Officer and President [Member] \| Share-Based Payment Arrangement, Tranche Three [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vesting, Sustained Market Capitalization	$ 200,000
The 2017 Stock Incentive Plan [Member] \| Restricted Stock Units (RSUs) [Member]
Share-Based Payment Arrangement, Expense								$ 1,018	$ 1,455

Note 12 - Share-based Compensation - Allocation of Share-based Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Share-based expense	$ 1,985	$ 3,225
Selling, General and Administrative Expenses [Member]
Share-based expense	1,696	2,684
Research and Development Expense [Member]
Share-based expense	$ 289	$ 541

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Preferred Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2021	40,851,945				(6)	41,264
Balance at Dec. 31, 2021	$ 4	$ 0	$ 91,025	$ (49,759)
Common shares issued upon exercise of stock options (in shares)	55,500	0
Common shares issued upon exercise of stock options	$ 0	$ 0	83	0	$ 0	$ 83
Share-based compensation expense	$ 0	$ 0	3,225	0	0	3,225
Common shares issued upon vesting of restricted stock units (in shares)	268,548	0
Common shares issued upon vesting of restricted stock units	$ 0	$ 0	0	0	0	0
Net unrealized gain on short-term investments	0	0	0	0	100	100
Net loss for the period	0	0	0	(17,617)	0	(17,617)
Net loss for the period	$ 0	$ 0	0	(17,617)	0	(17,617)
Balance at December 31, 2022 (in shares) at Dec. 31, 2022	41,175,993	0
Balance at December 31, 2022 at Dec. 31, 2022	$ 4	$ 0	94,333	(67,376)	94	$ 27,055
Common shares issued upon exercise of stock options (in shares)	123,056	0				123,056
Common shares issued upon exercise of stock options		$ 0	208	0	0	$ 208
Share-based compensation expense		$ 0	2,400	0	0	$ 2,400
Common shares issued upon vesting of restricted stock units (in shares)	1,056,360	0				0
Common shares issued upon vesting of restricted stock units		$ 0	0	0	0
Net unrealized gain on short-term investments						$ 0
Net loss for the period		0	0	(30,220)	0	(30,220)
Dividends on convertible preferred stock (in shares)	173,654
Dividends on convertible preferred stock		$ 0		(392)	0	(160)
Dividends on convertible preferred stock			232
Convertible preferred stock issued, net of offering costs (in shares)	0	10,000
Convertible preferred stock issued, net of offering costs		$ 2,036	0	0	0	2,036
Common shares issued upon convertible preferred stock exercising conversion rights (in shares)	76,440
Common shares issued upon convertible preferred stock exercising conversion rights (in shares)		(102)
Common shares issued upon convertible preferred stock exercising conversion rights		$ (20)
Common shares issued upon convertible preferred stock exercising conversion rights			20	0	0	0
Issuance of common stock for acquisition (in shares)	1,250,000	0
Issuance of common stock for acquisition		$ 0	1,938	0	0	1,938
Settlement – US Treasury bills		0	0	0	(94)	(94)
Net loss for the period		$ 0	0	(30,220)	0	(30,220)
Balance at December 31, 2022 (in shares) at Dec. 31, 2023	43,855,503	9,898
Balance at December 31, 2022 at Dec. 31, 2023	$ 4	$ 2,016	$ 99,131	$ (97,988)	$ 0	$ 3,163

Note 12 - Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands				12 Months Ended
	Apr. 16, 2024	Jul. 03, 2023	Jun. 29, 2023	Dec. 31, 2023	Dec. 31, 2022
Common Stock, Shares Authorized				150,000,000	150,000,000
Preferred Stock, Shares Authorized				5,000,000	5,000,000
Preferred Stock, Par or Stated Value Per Share (in dollars per share)				$ 0.0001	$ 0.0001
Dividends				$ 160
Dividends, Preferred Stock, Stock				$ 232	$ 0
Conversion of Series A Preferred Stock to Common Stock [Member]
Conversion of Stock, Shares Converted				102
Conversion of Stock, Shares Issued				77
Registered Direct Offering [Member]
Proceeds from Issuance of Preferred Stock and Preference Stock			$ 2,036
Series A Preferred Stock [Member]
Common Stock, Shares Authorized		10,000		10,000
Preferred Stock, Convertible, Conversion Price (in dollars per share)		$ 1.45
Preferred Stock, Dividend Rate, Percentage		8.00%
Preferred Stock, Convertible, Share Price Threshold		$ 8
Preferred Stock, Convertible, Trading Volume Threshold		$ 2,000,000
Dividends				$ 392
Dividends, Preferred Stock, Cash				58
Dividends, Preferred Stock, Stock				232
Dividends Payable				$ 102
Series A Preferred Stock [Member] \| Registered Direct Offering [Member]
Preferred Stock, Par or Stated Value Per Share (in dollars per share)			$ 0.0001
Preferred Stock, Convertible, Conversion Price (in dollars per share)			$ 1.45
Series A Preferred Stock [Member] \| Post Triggering Event [Member]
Preferred Stock, Dividend Rate, Percentage		20.00%
Series A Preferred Stock [Member] \| Forecast [Member]
Preferred Stock, Dividend Rate, Percentage	20.00%

Note 7 - Intangible Assets, Net and Goodwill - Future Amortization Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
2024	$ 427
2025	422
2026	335
2027	185
2028	185
Thereafter	673
Total amortizable	$ 2,227	$ 2,225

Note 8 - Accounts Payable and Accrued Liabilities - Summary of Accrued Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Patent and legal costs	$ 21	$ 135
Accrued compensation	325	1,100
Warranty costs	72	125
Taxes and other	274	103
Accrued Liabilities, Current	$ 692	$ 1,463

Note 3 - Asset Acquisition (Details Textual) - USD ($)					1 Months Ended	12 Months Ended
Note 3 - Asset Acquisition (Details Textual) - USD ($)	Aug. 16, 2023	Aug. 16, 2023	Aug. 09, 2023	Nov. 22, 2022	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Impairment of Intangible Assets (Excluding Goodwill)					$ 700,000	$ 700,000	$ 0
Professional Services and Technology Acquisition Agreement [Member]
Payments to Acquire Businesses, Gross				$ 700,000
Intrensic, LLC [Member]
Payments to Acquire Businesses, Gross	$ 554,000	$ 554,000	$ 553,588
Business Acquisition, Percentage of Voting Interests Acquired			100.00%
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	1,250,000	1,250,000	1,250,000

Note 8 - Accounts Payable and Accrued Liabilities (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Commissions Payable [Member]
Employee-related Liabilities	$ 0	$ 1,022
Syzygy Licensing LLC [Member]
Accounts Payable	$ 14	$ 127

Note 12 - Share-based Compensation - Summary of RSU Activity (Details) - Restricted Stock Units (RSUs) [Member] - $ / shares	1 Months Ended	12 Months Ended
	Oct. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Awards other than options, unvested (in shares)		922,332	269,303
Awards other than options, unvested, weighted average grant date fair value (in dollars per share)		$ 2.88	$ 6.47
Unvested, vesting period (Year)		2 years 6 months 7 days	2 years 1 month 9 days	2 years
Awards other than options, Granted (in shares)	482,143	1,289,784	988,850
Awards other than options, granted, weighted average grant date fair value (in dollars per share)		$ 1.41	$ 2.49
Awards other than options, Vested (in shares)		(1,056,360)	(268,548)
Awards other than options, vested, weighted average grant date fair value (in dollars per share)		$ 1.83	$ 4.13
Awards other than options, Forfeited and cancelled (in shares)		(345,168)	(67,273)
Awards other than options, forfeited and cancelled, weighted average grant date fair value (in dollars per share)		$ 2.7	$ 6.45
Awards other than options, unvested (in shares)		810,588	922,332	269,303
Awards other than options, unvested, weighted average grant date fair value (in dollars per share)		$ 1.73	$ 2.88	$ 6.47

Note 1 - Organization and Summary of Significant Accounting Policies (Details Textual) $ / shares in Units, $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2023 USD ($) $ / shares	Dec. 31, 2023 USD ($) $ / shares shares	Dec. 31, 2022 USD ($) $ / shares shares
Common Stock, Par or Stated Value Per Share \| $ / shares	$ 0.0001	$ 0.0001	$ 0.0001
Number of Wholly-owned Subsidiaries	2	2
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount \| shares		5,468,223	6,413,731
Accounts Receivable, Allowance for Credit Loss	$ 386	$ 386	$ 205
Inventory Valuation Reserves	$ 465	$ 465	0
Property, Plant and Equipment, Useful Life	3 years	3 years
Impairment of Intangible Assets (Excluding Goodwill)	$ 700	$ 700	0
Advertising Expense		925	426
Marketing Expense		225	688
Cost of Revenue		3,227	4,315
Revenue from Contract with Customer, Including Assessed Tax		5,337	7,481
Standard Product Warranty Accrual	$ 72	72	125
Income Tax Expense (Benefit)		0	0
Shipping and Handling [Member]
Cost of Revenue		200	296
Revenue from Contract with Customer, Including Assessed Tax		$ 37	$ 109
Technology-Based Intangible Assets [Member]
Finite-Lived Intangible Asset, Useful Life	6 years	6 years
Customer Relationships [Member]
Finite-Lived Intangible Asset, Useful Life	7 years	7 years
Trademarks and Trade Names [Member]
Finite-Lived Intangible Asset, Useful Life	8 years	8 years

Note 7 - Intangible Assets, Net and Goodwill

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Intangible Assets Disclosure [Text Block]

7.	INTANGIBLE ASSETS AND GOODWILL

Intangible Assets

Intangible assets consisted of the following:

	December 31,
	2023			2022
Amortizable intangible assets:
Patents	$	873		$	575
Trademarks		248			150
Purchased software and technology		1,752			1,962
Customer Relationship		160			-
		3,033			2,687
Accumulated amortization		(806	)		(462	)
Total amortizable		2,227			2,225
Indefinite life assets (non-amortizable)		421			344
Total intangible assets, net	$	2,648		$	2,569

Amortization expenses were $345 and $287 for the years ended December 31, 2023 and 2022, respectively.

The purchase of Intrensic in August 2023 resulted in several intangible assets recognized on the balance sheet including $80 in trademarks, $490 in purchased technology and $160 in customer relationships.

The Company determined in December 2023 that the intangible related to software developed by Lumeto would not have future economic benefit and the value of the intangible was written down, incurring a loss on impairment of $700.

At December 31, 2023, annual amortization of intangible assets, based upon the Company’s existing intangible assets and current useful lives, is estimated to be the following:

2024	$	427
2025		422
2026		335
2027		185
2028		185
Thereafter		673
Total estimated amortization expense	$	2,227

Goodwill

The table below summarizes the changes in the carrying amount of goodwill:

Balance at January 1, 2023	$	-
Acquired goodwill		1,610
Balance at December 31, 2023	$	1,610

Goodwill acquired in 2023 relates to the purchase of Intrensic in August 2023.

Note 12 - Share-based Compensation - Summary of Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Options on Common Shares, Outstanding (in shares)	5,491,399
Outstanding, weighted average exercise price (in dollars per share)	$ 3.72
Outstanding, remaining contractual term (Year)	8 years 9 months	5 years 11 months 15 days
Outstanding, aggregate intrinsic value	$ 3,979	$ 92
Options on Common Shares, Granted (in shares)	2,592,309
Granted, weighted average exercise price (in dollars per share)	$ 1.68
Options on Common Shares, Exercised (in shares)	(123,056)
Exercised, weighted average exercise price (in dollars per share)	$ 1.69
Options on Common Shares, Forfeited, cancelled, expired (in shares)	(3,303,017)
Forfeited, cancelled, expired, weighted average exercise price (in dollars per share)	$ 3.8
Options on Common Shares, Outstanding (in shares)	4,657,635	5,491,399
Outstanding, weighted average exercise price (in dollars per share)	$ 2.52	$ 3.72
Exercisable, shares (in shares)	1,160,580
Exercisable, weighted average exercise price (in dollars per share)	$ 4.02
Exercisable, weighted average contractual term (Year)	7 years 10 months 9 days
Exercisable, aggregate intrinsic value	$ 274

Note 19 - Business Combination (Details Textual) - Intrensic, LLC [Member] - USD ($)	Aug. 16, 2023	Aug. 16, 2023	Aug. 09, 2023
Payments to Acquire Businesses, Gross	$ 554,000	$ 554,000	$ 553,588
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares	1,250,000	1,250,000	1,250,000
Business Combination, Consideration Transferred, Equity Interests Issued and Issuable	$ 1,938,000
Business Acquisition, Transaction Costs	$ 38,000	$ 38,000

Note 17 - Major Customers and Related Information - Disaggregation of Revenue by Geographic Region (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenues	$ 6,133	$ 8,049
Americas [Member]
Revenues	3,773	5,315
Europe, Middle East and Africa [Member]
Revenues	2,302	2,487
Asia Pacific [Member]
Revenues	$ 58	$ 247

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

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+ Details

Note 17 - Income Taxes (Details Textual) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Deferred Tax Assets, Tax Credit Carryforwards, Research	$ 81	$ 65
Domestic Tax Jurisdiction [Member]
Operating Loss Carryforward Subject to Expiration	703
Operating Loss Carryforwards	78,800
State and Local Jurisdiction [Member]
Operating Loss Carryforwards	$ 30,800

Note 8 - Accounts Payable and Accrued Liabilities - Changes in Product Warranty Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Balance	$ 125	$ 96
Warranty settlements	(169)	(181)
Warranty provision	116	210
Balance	$ 72	$ 125

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 3,955	$ 5,330
Short-term investments	7,500	13,949
Accounts receivable and contract assets, net	3,025	2,830
Inventories, net	5,794	3,975
Prepaid expenses and other current assets	953	775
Total current assets	21,227	26,859
Property and equipment, net	509	758
Operating lease right-of-use asset, net	2,256	285
Intangible assets, net	2,648	2,569
Goodwill	1,610	0
Other assets	251	100
Total assets	28,501	30,571
Current liabilities:
Accounts payable	1,110	1,419
Accrued liabilities	692	1,463
Customer deposits	1,002	0
Operating lease liability - short term	616	108
Warrants	19,703	0
Total current liabilities	23,530	3,156
Long-term liabilities:
Operating lease liability - long term	1,671	193
Total long-term liabilities	1,808	360
Total liabilities	25,338	3,516
Commitments and Contingencies
Stockholders' equity:
Common stock - 150,000,000 authorized; par value $0.0001 per share; 43,855,503 and 41,175,993 shares issued and outstanding at December 31, 2023 and 2022, respectively	4	4
Additional paid-in capital	99,131	94,333
Accumulated deficit	(97,988)	(67,376)
Accumulated other comprehensive income	0	94
Total stockholders' equity	3,163	27,055
Total liabilities and stockholders' equity	28,501	30,571
Undesignated [Member]
Stockholders' equity:
Preferred stock - 5,000,000 authorized; par value $0.0001 per share	0	0
Convertible Preferred Stock [Member]
Stockholders' equity:
Preferred stock - 5,000,000 authorized; par value $0.0001 per share	2,016	0
Extended Warranties and Services, VR, and Training [Member]
Current liabilities:
Deferred revenue- short term	407	166
Long-term liabilities:
Deferred revenue- long term	$ 137	$ 167

Note 8 - Accounts Payable and Accrued Liabilities

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Accounts Payable and Accrued Liabilities Disclosure [Text Block]

8.	ACCOUNTS PAYABLE AND ACCRUED LIABILITIES

We are obligated to pay royalties pursuant to an exclusive Amended and Restated Intellectual Property License Agreement (the “License Agreement”), dated as of September 30, 2016, with Syzygy Licensing, LLC (“Syzygy”), a private technology invention, consulting and licensing company owned and controlled by Elwood G. Norris, a founder and former officer and current 5% stockholder of the Company, and James A. Barnes, a former officer and stockholder of the Company (see Note 16).

Accounts payable includes $14 and $127 due to Syzygy pursuant to the License Agreement as of December 31, 2023 and 2022, respectively.

Accrued liabilities consist of the following:

	December 31,
	2023		2022
Patent and legal costs	$	21	$	135
Accrued compensation		325		1,100
Warranty costs		72		125
Taxes and other		274		103
	$	692	$	1,463

Accrued compensation includes $0 and $1,022 in employee bonuses and commissions payable at December 31, 2023 and 2022, respectively.

Changes in our estimated product warranty costs were as follows:

	Year Ended December 31,
	2023			2022
Balance, beginning of period	$	125		$	96
Warranty settlements		(169	)		(181	)
Warranty provision		116			210
Balance, end of period	$	72		$	125

Note 7 - Intangible Assets, Net and Goodwill (Details Textual) - USD ($) $ in Thousands	1 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Aug. 31, 2023
Amortization of Intangible Assets		$ 345	$ 287
Impairment of Intangible Assets (Excluding Goodwill)	$ 700	$ 700	$ 0
Intrensic, LLC [Member] \| Trademarks [Member]
Acquired Finite-Lived Intangible Asset, Residual Value				$ 80
Intrensic, LLC [Member] \| Technology-Based Intangible Assets [Member]
Acquired Finite-Lived Intangible Asset, Residual Value				490
Intrensic, LLC [Member] \| Customer Relationships [Member]
Acquired Finite-Lived Intangible Asset, Residual Value				$ 160

Note 7 - Intangible Assets, Net and Goodwill - Summary of Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Amortizable intangible assets, gross	$ 3,033	$ 2,687
Accumulated amortization	(806)	(462)
Total amortizable	2,227	2,225
Indefinite life assets (non-amortizable)	421	344
Total intangible assets, net	2,648	2,569
Patents [Member]
Amortizable intangible assets, gross	873	575
Trademarks [Member]
Amortizable intangible assets, gross	248	150
Computer Software, Intangible Asset [Member]
Amortizable intangible assets, gross	1,752	1,962
Customer Relationships [Member]
Amortizable intangible assets, gross	$ 160	$ 0

Note 9 - Leases - Summary of Operating Lease Obligations (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Operating lease liability - short term	$ 616	$ 108
Operating lease liability - long term	1,671	$ 193
Total Operating Lease Liability	$ 2,287

Note 18 - Major Customers and Related Information (Details Textual) - Customer Concentration Risk [Member]	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Revenue Benchmark [Member] \| Distributors [Member]
Number of Major Customers	1	2
Revenue Benchmark [Member] \| Distributor One [Member]
Concentration Risk, Percentage	37.00%	36.00%
Revenue Benchmark [Member] \| Distributor Two [Member]
Concentration Risk, Percentage		25.00%
Accounts Receivable [Member] \| Distributors [Member]
Number of Major Customers	1	1
Accounts Receivable [Member] \| Distributor One [Member]
Concentration Risk, Percentage	67.00%	70.00%

Note 5 - Inventories

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Inventory Disclosure [Text Block]

5.	INVENTORIES

Inventory is recorded at the lower of cost or net realizable value. The cost of substantially all the Company’s inventory is determined by the FIFO cost method. Inventories consisted of the following:

	December 31,
	2023			2022
Finished goods	$	3,521		$	2,293
Raw materials		2,738			1,682
Reserve for Obsolescence		(465	)		-
Inventories – net	$	5,794		$	3,975

Note 10 - Warrants

12 Months Ended

Dec. 31, 2023

Notes to Financial Statements

Warrants [Text Block]

10. WARRANTS

On June 29, 2023, the Company entered into a Securities Purchase Agreement (the “Series A Purchase Agreement”) with certain directors of the Company and certain accredited and institutional investors (collectively, the “Series A Investors”), pursuant to which it agreed to sell to the Series A Investors in a registered direct offering (the “Series A Offering”) (i) an aggregate of 10,000 shares of the Company’s newly-designated Series A Convertible Preferred Stock, with par value $0.0001 per share and a stated value of $1,000 per share (the “Series A Preferred Stock”), initially convertible into up to 6,896,553 shares of the Company’s common stock, at an initial conversion price of $1.45 per share (the “Conversion Price”), and (ii) warrants to acquire up to an aggregate of 6,896,553 shares of Common Stock (the “Series A Warrants”).

Each Series A Warrant has an exercise price of $1.45, became exercisable after the date that was six months from the date of issuance and will expire 5 years following the date of issuance. The exercise price is subject to customary adjustments for stock dividends, stock splits, reclassifications and the like, and subject to price-based adjustment, on a “full ratchet” basis, in the event of any issuances of Common Stock, or securities convertible, exercisable or exchangeable for Common Stock, at a price below the then-applicable exercise price (subject to certain exceptions). The closing of the Offering occurred on July 3, 2023. The aggregate gross proceeds from the Offering were $10,000, of which $7,717 was allocated to the Warrants. The Company expects to use the net proceeds from the Offering for general corporate purposes.