Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.2.2
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
SCHEDULE OF DISAGGREGATED NET SALES

The following table shows the Company’s disaggregated net sales by product type:

 

 

      1       2  
   

Three months ended

September 30,

 
   

2022

(Unaudited)

   

2021

(Unaudited)

 
DC power systems   $ 1,659     $ 4,023  
Engineering & Tech Support Services     28       52  
Accessories     20       61  
Total net sales   $ 1,707     $ 4,136  

 

      1       2  
   

Nine months ended

September 30,

 
   

2022

(Unaudited)

   

2021

(Unaudited)

 
DC power systems   $ 9,474     $ 11,884  
Engineering & Tech Support Services     105       222  
Accessories     111       167  
Total net sales   $ 9,690     $ 12,273  

 

The following table shows the Company’s disaggregated net sales by customer type:

 

      1       2  
   

Three months ended

September 30,

 
   

2022

(Unaudited)

   

2021

(Unaudited)

 
Telecom   $ 1,538     $ 3,524  
Government/Military     2       373  
Marine     140       30  
Other (backup DC power to various industries)     27       209  
Total net sales   $ 1,707     $ 4,136  

 

      1       2  
   

Nine months ended

September 30,

 
   

2022

(Unaudited)

   

2021

(Unaudited)

 
Telecommunications   $ 9,435     $ 11,017  
Government/Military     31       538  
Marine     157       44  
Other (backup DC power to various industries)     67       674  
Total net sales   $ 9,690     $ 12,273  
SCHEDULE OF INVENTORIES NET

As of September 30, 2022 and December 31, 2021, inventories consisted of the following:

 

 

   

September 30,

2022

(unaudited)

   

December 31,

2021

 
             
Raw materials   $ 11,516     $ 6,607  
Finished goods     4,109       2,410  
Total Inventories   $ 15,625     $ 9,017  
SCHEDULE OF RECONCILIATION OF THE PRODUCT WARRANTY LIABILITY

 

Changes in estimates for warranties  

September 30,

2022

(unaudited)

   

December 31,

2021

 
Balance at beginning of the period   $ 600     $ 600  
Payments     (406 )     (658 )
Provision for warranties     406       658  
Balance at end of the period   $ 600     $ 600  
SCHEDULE OF DILUTED EARNINGS PER SHARE

The following potentially dilutive shares were excluded from the shares used to calculate diluted earnings per share as their inclusion would be anti-dilutive:

 

   

September 30,

2022

(Unaudited)

   

September 30,

2021

(Unaudited)

 
Options     140,000       140,000  
Warrants     24,122       24,122  
Total     164,122       164,122