Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.2
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2021
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:

 

   

2021

(Unaudited)

   

2020

(Unaudited)

 
    Three months ended
September 30,
 
   

2021

(Unaudited)

   

2020

(Unaudited)

 
DC power systems   $ 4,023     $ 2,414  
Engineering & Tech Support Services     52        
Accessories     61       87  
Total net sales   $ 4,136     $ 2,501  

 

   

2021

(Unaudited)

   

2020

(Unaudited)

 
    Nine months ended
September 30,
 
   

2021

(Unaudited)

   

2020

(Unaudited)

 
DC power systems   $ 11,884     $ 6,200  
Engineering & Tech Support Services     222        
Accessories     167       288  
Total net sales   $ 12,273     $ 6,488  

 

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

 

   

2021

(Unaudited)

   

2020

(Unaudited)

 
    Three months ended
September 30,
 
   

2021

(Unaudited)

   

2020

(Unaudited)

 
Telecommunications   $ 3,524     $ 2,491  
Government/Military     373       2  
Marine     30       1  
Other (backup DC power to various industries)     209       7  
Total net sales   $ 4,136     $ 2,501  

 

   

2021

(Unaudited)

   

2020

(Unaudited)

 
    Nine months ended
September 30,
 
   

2021

(Unaudited)

   

2020

(Unaudited)

 
Telecommunications   $ 11,017     $ 6,294  
Government/Military     538       9  
Marine     44       5  
Other (backup DC power to various industries)     674       180  
Total net sales   $ 12,273     $ 6,488  
SCHEDULE OF COMPONENTS OF INVENTORIES

As of September 30, 2021, and December 31, 2020, inventories consisted of the following:

 

    September 30, 2021     December 31, 2020  
    (unaudited)        
Raw materials   $ 5,494     $ 5,527  
Finished goods     3,104       3,567  
Total Inventories, net   $ 8,598     $ 9,094  
SCHEDULE OF RECONCILIATION OF THE PRODUCT WARRANTY LIABILITY

The following is a tabular reconciliation of the product warranty liability, excluding the deferred revenue related to the Company’s warranty coverage:

 

Changes in estimates for warranties  

September 30, 2021

    December 31, 2020  
    (unaudited)        
Balance at beginning of the period   $ 600     $ 375  
Payments     (496 )     (634 )
Provision for warranties     496       859  
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, 2021

   

September 30, 2020

 
    (Unaudited)     (Unaudited)  
Options     140,000       140,000  
Warrants     24,122       465,000  
Total     164,122       605,000