v3.26.1
Pay vs Performance Disclosure - USD ($)
 12 Months Ended
Jan. 04, 2024
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table  

PAY VS PERFORMANCE

As required by Section 953(a) of the Dodd-Frank Wall Street Reform and Consumer Protection Act, and Item 402(v) of Regulation S-K, we are providing the following information about the relationship between executive compensation actually paid and certain financial performance of our Company, illustrating pay versus performance. The summary compensation table totals and compensation actually paid amounts do not reflect the actual amount of cash compensation due to the Equity Components included that may or may not be realized at a future date, earned by or paid to our named executive officers during the applicable years.

Year

  

Summary
Compensation
Table Total
for PEO 1 –
Dale Strang(1)
($)

  

Summary
Compensation
Table Total
For PEO 2 –
Michael Pope(2)
($)

  

Compensation
Actually Paid
to PEO 1 –
Dale Strang
($)

  

Compensation
Actually Paid
to PEO 2 –
Michael Pope
($)

  

Average
Summary
Compensation
Table Total
for Non-PEO
NEOs(3) 
($)

  

Compensation
Actually Paid
to Non-PEO
NEOs
($)

  

Value of
Initial Fixed
$100
Investment
Based On
Total
Shareholder
Return
($)

  

Net Loss
($000)

2025

  

582,380

  

N/A

  

582,380

  

N/A 

  

— 

  

— 

  

14.16 

  

(23,810

)

2024

  

941,667

  

633,338

  

941,667

  

633,338 

  

438,790 

  

410,127 

  

15.35 

  

(28,335

)

2023

  

—

  

1,364,183

  

—

  

1,228,465 

  

388,305 

  

254,146 

  

43.15 

  

(39,156

)

(1)      Mr. Strang was appointed Interim Chief Executive Officer on January 4, 2024 and subsequently Chief Executive Officer on June 7, 2024. Mr. Strang stepped down from his roles as chief executive officer and director effective February 17, 2026. Amounts shown for Mr. Strang include compensation for his roles as both Interim Chief Executive Officer and Chief Executive Officer.

(2)      Mr. Pope was appointed to the position of Chief Executive Officer and Chairman on March 20, 2020. On January 4, 2024, Mr. Pope stepped down as our Chief Executive Officer and Chairman but continued to serve as a non-executive member of the board of directors. On September 9, 2025, he was re-elected as Chairman of the Board. Amounts exclude director compensation that Mr. Pope received in his capacity as a director after he stepped down as an employee of the Company on January 4, 2024. See “2024 Director Compensation” below for information regarding director compensation that Mr. Pope received in his capacity as a director after he stepped down as an employee of the Company on January 4, 2024. See also “Related Party Transactions” on page 29 for a discussion of related party transactions in which Mr. Pope had or will have a direct or indirect material interest.

(3)      The names of the Non-PEO NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2025, Mr. Nance, Mr. Marklew, and Mr. Holstebro; the CFO role was excluded for 2025 given the changes in the position and in consideration of averages used it would not be materially different, (ii) for 2024, Mr. Starkey, Mr. Nance, Mr. Wiggins, Mr. Marklew, and Mr. Holstebro, and (iii) for 2023, Mr. Starkey, Mr. Nance, Mr. Wiggins, Mr. Foley and Mr. Marklew.

 

2025

  

2024

  

2023
   

PEO 1

  

PEO 2

  

Non-PEO
NEOs

  

PEO 1

  

PEO 2

  

Non-PEO
NEOs

  

PEO

  

Non-PEO
NEOs

Summary Compensation Table Total

  

$

582,380

  

 

N/A

  

$

366,524

  

$

941,667

  

$

633,338

  

$

438,790

 

  

$

1,364,183

 

  

$

388,305

 

Deduction for Amounts Reported under the Stock Awards Column in the SCT

  

 

— 

  

 

— 

  

 

— 

  

 

—

  

 

—

  

 

— 

 

  

 

(180,000

)

  

 

(30,590

)

Deduction for Amounts Reported under the Option Awards Column in the SCT

  

 

— 

  

 

— 

  

 

— 

  

 

—

  

 

—

  

 

— 

 

  

 

(420,000

)

  

 

(75,000

)

Addition of the fair value as of YE of awards granted during the covered year that are outstanding and unvested as of the end of the covered year

  

 

— 

  

 

— 

  

 

— 

  

 

—

  

 

—

  

 

— 

 

  

 

600,000 

 

  

 

105,590 

 

Increase/deduction for change in Fair Value from prior year-end to current YE of awards granted prior to the covered year that were outstanding and unvested as of YE.

  

 

— 

  

 

— 

  

$

38,600

  

 

—

  

 

—

  

 

(18,092

)

  

 

(112,433

)

  

 

(126,864

)

Increase/deduction for change in Fair Value from prior year-end to vesting date of awards granted prior to the covered year that vested during the covered year.

  

 

— 

  

 

— 

  

$

36,800

  

 

—

  

 

—

  

 

(10,571

)

  

 

(23,285

)

  

 

(7,295

)

Compensation Actually Paid

  

$

582,380

  

$

0

  

$

441,924

  

$

941,667

  

$

633,338

  

$

410,127

 

  

$

1,228,465

 

  

$

254,146

 
   
Named Executive Officers, Footnote  

(1)      Mr. Strang was appointed Interim Chief Executive Officer on January 4, 2024 and subsequently Chief Executive Officer on June 7, 2024. Mr. Strang stepped down from his roles as chief executive officer and director effective February 17, 2026. Amounts shown for Mr. Strang include compensation for his roles as both Interim Chief Executive Officer and Chief Executive Officer.

(2)      Mr. Pope was appointed to the position of Chief Executive Officer and Chairman on March 20, 2020. On January 4, 2024, Mr. Pope stepped down as our Chief Executive Officer and Chairman but continued to serve as a non-executive member of the board of directors. On September 9, 2025, he was re-elected as Chairman of the Board. Amounts exclude director compensation that Mr. Pope received in his capacity as a director after he stepped down as an employee of the Company on January 4, 2024. See “2024 Director Compensation” below for information regarding director compensation that Mr. Pope received in his capacity as a director after he stepped down as an employee of the Company on January 4, 2024. See also “Related Party Transactions” on page 29 for a discussion of related party transactions in which Mr. Pope had or will have a direct or indirect material interest.

(3)      The names of the Non-PEO NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2025, Mr. Nance, Mr. Marklew, and Mr. Holstebro; the CFO role was excluded for 2025 given the changes in the position and in consideration of averages used it would not be materially different, (ii) for 2024, Mr. Starkey, Mr. Nance, Mr. Wiggins, Mr. Marklew, and Mr. Holstebro, and (iii) for 2023, Mr. Starkey, Mr. Nance, Mr. Wiggins, Mr. Foley and Mr. Marklew.

    
PEO Total Compensation Amount       $ 1,364,183
PEO Actually Paid Compensation Amount       1,228,465
Adjustment To PEO Compensation, Footnote  
 

2025

  

2024

  

2023
   

PEO 1

  

PEO 2

  

Non-PEO
NEOs

  

PEO 1

  

PEO 2

  

Non-PEO
NEOs

  

PEO

  

Non-PEO
NEOs

Summary Compensation Table Total

  

$

582,380

  

 

N/A

  

$

366,524

  

$

941,667

  

$

633,338

  

$

438,790

 

  

$

1,364,183

 

  

$

388,305

 

Deduction for Amounts Reported under the Stock Awards Column in the SCT

  

 

— 

  

 

— 

  

 

— 

  

 

—

  

 

—

  

 

— 

 

  

 

(180,000

)

  

 

(30,590

)

Deduction for Amounts Reported under the Option Awards Column in the SCT

  

 

— 

  

 

— 

  

 

— 

  

 

—

  

 

—

  

 

— 

 

  

 

(420,000

)

  

 

(75,000

)

Addition of the fair value as of YE of awards granted during the covered year that are outstanding and unvested as of the end of the covered year

  

 

— 

  

 

— 

  

 

— 

  

 

—

  

 

—

  

 

— 

 

  

 

600,000 

 

  

 

105,590 

 

Increase/deduction for change in Fair Value from prior year-end to current YE of awards granted prior to the covered year that were outstanding and unvested as of YE.

  

 

— 

  

 

— 

  

$

38,600

  

 

—

  

 

—

  

 

(18,092

)

  

 

(112,433

)

  

 

(126,864

)

Increase/deduction for change in Fair Value from prior year-end to vesting date of awards granted prior to the covered year that vested during the covered year.

  

 

— 

  

 

— 

  

$

36,800

  

 

—

  

 

—

  

 

(10,571

)

  

 

(23,285

)

  

 

(7,295

)

Compensation Actually Paid

  

$

582,380

  

$

0

  

$

441,924

  

$

941,667

  

$

633,338

  

$

410,127

 

  

$

1,228,465

 

  

$

254,146

 
   
Non-PEO NEO Average Total Compensation Amount [1]   $ 438,790 388,305
Non-PEO NEO Average Compensation Actually Paid Amount   410,127 254,146
Adjustment to Non-PEO NEO Compensation Footnote  
 

2025

  

2024

  

2023
   

PEO 1

  

PEO 2

  

Non-PEO
NEOs

  

PEO 1

  

PEO 2

  

Non-PEO
NEOs

  

PEO

  

Non-PEO
NEOs

Summary Compensation Table Total

  

$

582,380

  

 

N/A

  

$

366,524

  

$

941,667

  

$

633,338

  

$

438,790

 

  

$

1,364,183

 

  

$

388,305

 

Deduction for Amounts Reported under the Stock Awards Column in the SCT

  

 

— 

  

 

— 

  

 

— 

  

 

—

  

 

—

  

 

— 

 

  

 

(180,000

)

  

 

(30,590

)

Deduction for Amounts Reported under the Option Awards Column in the SCT

  

 

— 

  

 

— 

  

 

— 

  

 

—

  

 

—

  

 

— 

 

  

 

(420,000

)

  

 

(75,000

)

Addition of the fair value as of YE of awards granted during the covered year that are outstanding and unvested as of the end of the covered year

  

 

— 

  

 

— 

  

 

— 

  

 

—

  

 

—

  

 

— 

 

  

 

600,000 

 

  

 

105,590 

 

Increase/deduction for change in Fair Value from prior year-end to current YE of awards granted prior to the covered year that were outstanding and unvested as of YE.

  

 

— 

  

 

— 

  

$

38,600

  

 

—

  

 

—

  

 

(18,092

)

  

 

(112,433

)

  

 

(126,864

)

Increase/deduction for change in Fair Value from prior year-end to vesting date of awards granted prior to the covered year that vested during the covered year.

  

 

— 

  

 

— 

  

$

36,800

  

 

—

  

 

—

  

 

(10,571

)

  

 

(23,285

)

  

 

(7,295

)

Compensation Actually Paid

  

$

582,380

  

$

0

  

$

441,924

  

$

941,667

  

$

633,338

  

$

410,127

 

  

$

1,228,465

 

  

$

254,146

 
   
Compensation Actually Paid vs. Total Shareholder Return  

Description of Relationship Between CEO and non-CEO Compensation Actually Paid and Company Total Shareholder Return

We do not use cumulative TSR as a performance measure in our executive compensation program, and the amount of total compensation actually paid to our PEOs and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding our PEOs) is generally not aligned with the Company’s cumulative TSR over the three years presented in the table above.

    
Compensation Actually Paid vs. Net Income  

Compensation Actually Paid and Net Loss

Our Company has not historically looked to net income (loss) as a performance measure for our executive compensation program, and, accordingly, the “Compensation Actually Paid” to our PEOs and the average amount of compensation actually paid to the Company’s NEOs as a group (excluding our PEOs) is generally not aligned with net income (loss) for 2023, 2024 and 2025. Our net loss was $23.8 million in 2025, $28.3 million in 2024 and $39.2 million in 2023.

Our net loss in 2025 included $1.4million in loss on warrant issuance, $2.9million in IEEPA tariffs and $1.1 million in inventory write downs related to Inventory NRV write-downs, our net loss in 2024 included non-cash accelerated amortization expense of $12.3 million and our net loss in 2023 included non-cash impairment charges of $25.2 million.

    
Total Shareholder Return Amount   $ 14.16 15.35 43.15
Net Income (Loss)   $ (23,810,000) (28,335,000) (39,156,000)
PEO Name Mr. Pope Mr. Strang    
Dale Strang [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount [2]   $ 582,380 941,667
PEO Actually Paid Compensation Amount   582,380 941,667
Michael Pope [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount [3]   633,338 1,364,183
PEO Actually Paid Compensation Amount   633,338 1,228,465
Non-PEO NEO [Member]        
Pay vs Performance Disclosure        
Non-PEO NEO Average Total Compensation Amount   366,524    
Non-PEO NEO Average Compensation Actually Paid Amount   441,924    
PEO | Deduction for Amounts Reported under the Stock Awards Column in the SCT [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (180,000)
PEO | Deduction for Amounts Reported under the Option Awards Column in the SCT [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (420,000)
PEO | Addition of the fair value as of YE of awards granted during the covered year that are outstanding and unvested as of the end of the covered year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   600,000
PEO | Increase/deduction for change in Fair Value from prior year-end to current YE of awards granted prior to the covered year that were outstanding and unvested as of YE. [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (112,433)
PEO | Increase/deduction for change in Fair Value from prior year-end to vesting date of awards granted prior to the covered year that vested during the covered year. [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (23,285)
Non-PEO NEO [Member] | Deduction for Amounts Reported under the Stock Awards Column in the SCT [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (30,590)
Non-PEO NEO [Member] | Deduction for Amounts Reported under the Option Awards Column in the SCT [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   (75,000)
Non-PEO NEO [Member] | Addition of the fair value as of YE of awards granted during the covered year that are outstanding and unvested as of the end of the covered year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   105,590
Non-PEO NEO [Member] | Increase/deduction for change in Fair Value from prior year-end to current YE of awards granted prior to the covered year that were outstanding and unvested as of YE. [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   38,600 (18,092) (126,864)
Non-PEO NEO [Member] | Increase/deduction for change in Fair Value from prior year-end to vesting date of awards granted prior to the covered year that vested during the covered year. [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount   $ 36,800 $ (10,571) $ (7,295)
[1] The names of the Non-PEO NEOs included for purposes of calculating the average amounts in each applicable year are as follows: (i) for 2025, Mr. Nance, Mr. Marklew, and Mr. Holstebro; the CFO role was excluded for 2025 given the changes in the position and in consideration of averages used it would not be materially different, (ii) for 2024, Mr. Starkey, Mr. Nance, Mr. Wiggins, Mr. Marklew, and Mr. Holstebro, and (iii) for 2023, Mr. Starkey, Mr. Nance, Mr. Wiggins, Mr. Foley and Mr. Marklew.
[2] Mr. Strang was appointed Interim Chief Executive Officer on January 4, 2024 and subsequently Chief Executive Officer on June 7, 2024. Mr. Strang stepped down from his roles as chief executive officer and director effective February 17, 2026. Amounts shown for Mr. Strang include compensation for his roles as both Interim Chief Executive Officer and Chief Executive Officer.
[3] Mr. Pope was appointed to the position of Chief Executive Officer and Chairman on March 20, 2020. On January 4, 2024, Mr. Pope stepped down as our Chief Executive Officer and Chairman but continued to serve as a non-executive member of the board of directors. On September 9, 2025, he was re-elected as Chairman of the Board. Amounts exclude director compensation that Mr. Pope received in his capacity as a director after he stepped down as an employee of the Company on January 4, 2024. See “2024 Director Compensation” below for information regarding director compensation that Mr. Pope received in his capacity as a director after he stepped down as an employee of the Company on January 4, 2024. See also “Related Party Transactions” on page 29 for a discussion of related party transactions in which Mr. Pope had or will have a direct or indirect material interest.