ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
12 Months Ended |
Dec. 31, 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 (in thousands):
SCHEDULE
OF DISAGGREGATED NET SALES
| |
|
2022 |
|
|
2021 |
|
| |
|
Years Ended December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| DC power systems |
|
$ |
15,219 |
|
|
$ |
16,291 |
|
| Engineering & Tech Support Services |
|
|
589 |
|
|
|
390 |
|
| Accessories |
|
|
248 |
|
|
|
215 |
|
| Total net sales |
|
$ |
16,056 |
|
|
$ |
16,896 |
|
The
following table shows the Company’s disaggregated net sales by customer type (in thousands):
| |
|
2022 |
|
|
2021 |
|
| |
|
Years Ended December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| Telecom |
|
$ |
15,357 |
|
|
$ |
14,953 |
|
| Government/Military |
|
|
38 |
|
|
|
995 |
|
| Marine |
|
|
205 |
|
|
|
76 |
|
| Other (backup DC power to various industries) |
|
|
456 |
|
|
|
872 |
|
| Total net sales |
|
$ |
16,056 |
|
|
$ |
16,896 |
|
|
| SCHEDULE OF NET SALES BY GEOGRAPHICAL REGIONS |
The
following tables shows the Company’s net sales by the respective geographical regions of our customers (in thousands):
SCHEDULE
OF NET SALES BY GEOGRAPHICAL REGIONS
| |
|
2022 |
|
|
2021 |
|
| |
|
Years Ended |
|
| |
|
December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| United States |
|
$ |
12,073 |
|
|
$ |
15,617 |
|
| Canada |
|
|
87 |
|
|
|
86 |
|
| Mexico |
|
|
— |
|
|
|
4 |
|
| South Pacific Islands |
|
|
3,678 |
|
|
|
— |
|
| Japan |
|
|
16 |
|
|
|
565 |
|
| Other Asia Pacific |
|
|
74 |
|
|
|
533 |
|
| Europe and Middle East |
|
|
128 |
|
|
|
91 |
|
| Total net sales |
|
$ |
16,056 |
|
|
$ |
16,896 |
|
|
| SCHEDULE OF RECONCILIATION OF THE PRODUCT WARRANT LIABILITY |
The
following is a tabular reconciliation of the product warranty liability, excluding the deferred revenue related to the Company’s
warranty coverage (in thousands):
SCHEDULE
OF RECONCILIATION OF THE PRODUCT WARRANT LIABILITY
| |
|
2022 |
|
|
2021 |
|
| |
|
Years End December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| Changes in estimates for warranties |
|
|
|
|
|
|
|
|
| Balance at beginning of the period |
|
$ |
600 |
|
|
$ |
600 |
|
| Payments |
|
|
(508 |
) |
|
|
(658 |
) |
| Provision for warranties |
|
|
508 |
|
|
|
658 |
|
| |
|
|
|
|
|
|
|
|
| Balance at end of the period |
|
$ |
600 |
|
|
$ |
600 |
|
|
| SCHEDULE OF INVENTORIES NET |
As
of December 31, 2022 and 2021, inventories consisted of the following (in thousands):
SCHEDULE
OF INVENTORIES NET
| |
|
2022 |
|
|
2021 |
|
| |
|
Years Ended December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| Raw materials |
|
$ |
12,277 |
|
|
$ |
6,607 |
|
| Finished goods |
|
|
3,183 |
|
|
|
2,410 |
|
| Inventories |
|
$ |
15,460 |
|
|
$ |
9,017 |
|
|
| SCHEDULE OF ESTIMATED USEFUL LIFE OF PROPERTY PLANT AND EQUIPMENT |
SCHEDULE
OF ESTIMATED USEFUL LIFE OF PROPERTY PLANT AND EQUIPMENT
| |
|
Estimated
life |
| Production tooling, jigs, fixtures |
|
3-5 years |
| Shop equipment and machinery |
|
5 years |
| Vehicles |
|
3-5 years |
| Leasehold improvements |
|
Shorter of the lease term
or estimated useful life |
| Office equipment |
|
5 years |
| Software |
|
5 years |
|
| 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:
SCHEDULE
OF DILUTED EARNINGS PER SHARE
| |
|
2022 |
|
|
2021 |
|
| |
|
December 31, |
|
| |
|
2022 |
|
|
2021 |
|
| Options |
|
|
140,000 |
|
|
|
140,000 |
|
| Warrants |
|
|
24,122 |
|
|
|
24,122 |
|
| Total |
|
|
164,122 |
|
|
|
164,122 |
|
|