Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2024
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:

 

    2024   2023  
    Three months ended
March 31,
 
    2024   2023  
    (Unaudited)   (Unaudited)  
DC power systems   $ 1,567   $ 4,081  
Engineering & Tech Support Services     86     24  
Accessories     122     85  
Total net sales   $ 1,775   $ 4,190  

 

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

 

    2024   2023  
    Three months ended
March 31,
 
    2024   2023  
    (Unaudited)   (Unaudited)  
Telecom   $ 1,258   $ 3,988  
Government/Military     460     193  
Marine     38      
Other (backup DC power to various industries)     19     9  
Total net sales   $ 1,775   $ 4,190  
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):

 

    2024   2023  
    Three months ended  
    March 31,  
    2024   2023  
    (Unaudited)   (Unaudited)  
United States   $ 1,675   $ 3,065  
South Pacific Islands     79     1,120  
Japan     20      
Other Asia Pacific     1     5  
Total net sales   $ 1,775   $ 4,190  
SCHEDULE OF INVENTORIES NET

As of March 31, 2024 and December 31, 2023, inventories consisted of the following:

 

    March 31, 2024   December 31, 2023  
      (unaudited)        
Raw materials   $ 14,205   $ 14,313  
Finished goods     2,016     2,209  
Total Inventories   $ 16,221   $ 16,522  
SCHEDULE OF RECONCILIATION OF THE PRODUCT WARRANT LIABILITY

 

Changes in estimates for warranties   March 31, 2024   December 31, 2023  
    (unaudited)      
Balance at beginning of the period   $ 600   $ 600  
Payments     (71 )   (469 )
Provision for warranties     71     469  
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:

 

    March 31, 2024   March 31, 2023  
      (Unaudited)     (Unaudited)  
Options     140,000     140,000  
Warrants         24,122  
Total     140,000     164,122