Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.24.3
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:

 

    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:

 

   

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

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:

 

   

September 30,

2024

   

September 30,

2023

 
    (Unaudited)     (Unaudited)  
Options     140,000       140,000  
Warrants           24,122  
Total     140,000       164,122