ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
9 Months Ended |
Sep. 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
|
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
|
|
Three months ended September 30, |
|
|
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
DC power systems |
|
$ |
4,340 |
|
|
$ |
1,611 |
|
Engineering & Tech Support Services |
|
|
224 |
|
|
|
200 |
|
Accessories |
|
|
350 |
|
|
|
100 |
|
Total net sales |
|
$ |
4,914 |
|
|
$ |
1,911 |
|
|
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
|
|
Nine months ended September 30, |
|
|
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
DC power systems |
|
$ |
10,381 |
|
|
$ |
11,131 |
|
Engineering & Tech Support Services |
|
|
349 |
|
|
|
254 |
|
Accessories |
|
|
618 |
|
|
|
303 |
|
Total net sales |
|
$ |
11,348 |
|
|
$ |
11,688 |
|
The
following table shows the Company’s disaggregated net sales by customer type:
|
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
|
|
Three months ended September 30, |
|
|
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
Telecom |
|
$ |
4,467 |
|
|
$ |
1,827 |
|
Government/Military |
|
|
371 |
|
|
|
2 |
|
Marine |
|
|
43 |
|
|
|
60 |
|
Other (backup DC power to various industries) |
|
|
33 |
|
|
|
22 |
|
Total net sales |
|
$ |
4,914 |
|
|
$ |
1,911 |
|
|
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
|
|
Nine months ended September 30, |
|
|
|
2024 (Unaudited)
|
|
|
2023 (Unaudited)
|
|
Telecommunications |
|
$ |
10,170 |
|
|
$ |
11,222 |
|
Government/Military |
|
|
993 |
|
|
|
330 |
|
Marine |
|
|
94 |
|
|
|
88 |
|
Other (backup DC power to various industries) |
|
|
91 |
|
|
|
48 |
|
Total net sales |
|
$ |
11,348 |
|
|
$ |
11,688 |
|
|
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 |
|
|
|
September 30, |
|
|
|
2024 |
|
|
2023 |
|
|
|
(Unaudited) |
|
|
(Unaudited) |
|
United States |
|
$ |
4,444 |
|
|
$ |
1,883 |
|
Canada |
|
|
1 |
|
|
|
16 |
|
South Pacific Islands |
|
|
84 |
|
|
|
8 |
|
Other Asia Pacific |
|
|
4 |
|
|
|
4 |
|
Japan |
|
|
11 |
|
|
|
— |
|
Europe and Middle East |
|
|
258 |
|
|
|
— |
|
Africa |
|
|
112 |
|
|
|
— |
|
Total net sales |
|
$ |
4,914 |
|
|
$ |
1,911 |
|
|
|
2024 |
|
|
2023 |
|
|
|
Nine months ended |
|
|
|
September 30, |
|
|
|
2024 |
|
|
2023 |
|
|
|
(Unaudited) |
|
|
(Unaudited) |
|
United States |
|
$ |
9,608 |
|
|
$ |
8,894 |
|
Canada |
|
|
1 |
|
|
|
178 |
|
South Pacific Islands |
|
|
1,309 |
|
|
|
2,582 |
|
Other Asia Pacific |
|
|
28 |
|
|
|
8 |
|
Japan |
|
|
31 |
|
|
|
— |
|
Europe and Middle East |
|
|
259 |
|
|
|
— |
|
Africa |
|
|
112 |
|
|
|
26 |
|
Total net sales |
|
$ |
11,348 |
|
|
$ |
11,688 |
|
|
SCHEDULE OF INVENTORIES NET |
As
of September 30, 2024 and December 31, 2023, inventories consisted of the following:
SCHEDULE
OF INVENTORIES NET
|
|
September 30, 2024 (unaudited)
|
|
|
December 31, 2023
|
|
|
|
|
|
|
|
|
Raw materials |
|
$ |
13,213 |
|
|
$ |
14,313 |
|
Finished goods |
|
|
1,816 |
|
|
|
2,209 |
|
Total Inventories |
|
$ |
15,029 |
|
|
$ |
16,522 |
|
|
SCHEDULE OF RECONCILIATION OF THE PRODUCT WARRANT LIABILITY |
SCHEDULE
OF RECONCILIATION OF THE PRODUCT WARRANT LIABILITY
Changes in estimates for warranties |
|
September 30, 2024 (unaudited)
|
|
|
December 31, 2023
|
|
Balance at beginning of the period |
|
$ |
600 |
|
|
$ |
600 |
|
Payments |
|
|
(182 |
) |
|
|
(469 |
) |
Provision for warranties |
|
|
182 |
|
|
|
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
|
|
September 30, 2024
|
|
|
September 30, 2023
|
|
|
|
(Unaudited) |
|
|
(Unaudited) |
|
Options |
|
|
140,000 |
|
|
|
140,000 |
|
Warrants |
|
|
— |
|
|
|
24,122 |
|
Total |
|
|
140,000 |
|
|
|
164,122 |
|
|