ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
6 Months Ended |
Jun. 30, 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:
SCHEDULE
OF DISAGGREGATED NET SALES
| |
|
|
|
|
|
|
| |
|
Three months ended
June 30, |
|
| |
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
| DC power systems |
|
$ |
4,475 |
|
|
$ |
5,439 |
|
| Engineering & Tech Support Services |
|
|
38 |
|
|
|
31 |
|
| Accessories |
|
|
147 |
|
|
|
117 |
|
| Total net sales |
|
$ |
4,660 |
|
|
$ |
5,587 |
|
| |
|
|
|
|
|
|
| |
|
Six months ended
June 30, |
|
| |
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
| DC power systems |
|
$ |
6,041 |
|
|
$ |
9,520 |
|
| Engineering & Tech Support Services |
|
|
125 |
|
|
|
54 |
|
| Accessories |
|
|
268 |
|
|
|
203 |
|
| Total net sales |
|
$ |
6,434 |
|
|
$ |
9,777 |
|
The
following table shows the Company’s disaggregated net sales by customer type:
| |
|
|
|
|
|
|
| |
|
Three months ended
June 30, |
|
| |
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
| Telecom |
|
$ |
4,445 |
|
|
$ |
5,408 |
|
| Government/Military |
|
|
163 |
|
|
|
131 |
|
| Marine |
|
|
13 |
|
|
|
27 |
|
| Other (backup DC power to various industries) |
|
|
39 |
|
|
|
21 |
|
| Total net sales |
|
$ |
4,660 |
|
|
$ |
5,587 |
|
| |
|
|
|
|
|
|
| |
|
Six months ended
June 30, |
|
| |
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
| Telecommunications |
|
$ |
5,703 |
|
|
$ |
9,400 |
|
| Government/Military |
|
|
622 |
|
|
|
324 |
|
| Marine |
|
|
51 |
|
|
|
28 |
|
| Other (backup DC power to various industries) |
|
|
58 |
|
|
|
25 |
|
| Total net sales |
|
$ |
6,434 |
|
|
$ |
9,777 |
|
|
| SCHEDULE OF NET SALES BY GEOGRAPHICAL REGIONS |
The
following tables shows the Company’s net sales by the respective geographical regions of our customers:
SCHEDULE
OF NET SALES BY GEOGRAPHICAL REGIONS
| |
|
2024 |
|
|
2023 |
|
| |
|
Three months ended |
|
| |
|
June 30, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| United States |
|
$ |
3,490 |
|
|
$ |
3,947 |
|
| Canada |
|
|
- |
|
|
|
161 |
|
| South Pacific Islands |
|
|
1,146 |
|
|
|
1,453 |
|
| Indonesia |
|
|
24 |
|
|
|
— |
|
| Africa |
|
|
— |
|
|
|
26 |
|
| Total net sales |
|
$ |
4,660 |
|
|
$ |
5,587 |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
Six months ended |
|
| |
|
June 30, |
|
| |
|
2024 |
|
|
2023 |
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| United States |
|
$ |
5,164 |
|
|
$ |
7,011 |
|
| Canada |
|
|
— |
|
|
|
162 |
|
| South Pacific Islands |
|
|
1,225 |
|
|
|
2,578 |
|
| Indonesia |
|
|
24 |
|
|
|
- |
|
| Japan |
|
|
20 |
|
|
|
— |
|
| Europe and Middle East |
|
|
1 |
|
|
|
— |
|
| Africa |
|
|
— |
|
|
|
26 |
|
| Total net sales |
|
$ |
6,434 |
|
|
$ |
9,777 |
|
|
| SCHEDULE OF INVENTORIES NET |
As
of June 30, 2024 and December 31, 2023, inventories consisted of the following:
SCHEDULE
OF INVENTORIES NET
| |
|
June 30, 2024 (unaudited)
|
|
|
December 31, 2023
|
|
| |
|
|
|
|
|
|
| Raw materials |
|
$ |
13,769 |
|
|
$ |
14,313 |
|
| Finished goods |
|
|
2,007 |
|
|
|
2,209 |
|
| Total Inventories |
|
$ |
15,776 |
|
|
$ |
16,522 |
|
|
| SCHEDULE OF RECONCILIATION OF THE PRODUCT WARRANT LIABILITY |
SCHEDULE
OF RECONCILIATION OF THE PRODUCT WARRANT LIABILITY
| Changes in estimates for warranties |
|
June 30, 2024 (unaudited)
|
|
|
December 31, 2023
|
|
| Balance at beginning of the period |
|
$ |
600 |
|
|
$ |
600 |
|
| Payments |
|
|
(138 |
) |
|
|
(469 |
) |
| Provision for warranties |
|
|
138 |
|
|
|
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:
SCHEDULE
OF DILUTED EARNINGS PER SHARE
| |
|
June
30, 2024
|
|
|
June
30, 2023
|
|
| |
|
(Unaudited) |
|
|
(Unaudited) |
|
| Options |
|
|
140,000 |
|
|
|
140,000 |
|
| Warrants |
|
|
— |
|
|
|
24,122 |
|
| Total |
|
|
140,000 |
|
|
|
164,122 |
|
|