Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.2.2
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2022
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:

 

                 
    Three months ended
June 30,
 
   

2022

(Unaudited)

   

2021

(Unaudited)

 
DC power systems   $ 4,199     $ 4,635  
Engineering & Tech Support Services     32       142  
Accessories     43       70  
Total net sales   $ 4,274     $ 4,847  

 

                 
    Six months ended
June 30,
 
   

2022

(Unaudited)

   

2021

(Unaudited)

 
DC power systems   $ 7,816     $ 7,860  
Engineering & Tech Support Services     76       170  
Accessories     91       107  
Total net sales   $ 7,983     $ 8,137  

 

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

 

                 
    Three months ended
June 30,
 
   

2022

(Unaudited)

   

2021

(Unaudited)

 
Telecom   $ 4,228     $ 4,440  
Government/Military     12       134  
Marine     3       14  
Other (backup DC power to various industries)     31       259  
Total net sales   $ 4,274     $ 4,847  

 

                 
    Six months ended
June 30,
 
   

2022

(Unaudited)

   

2021

(Unaudited)

 
Telecommunications   $ 7,898     $ 7,492  
Government/Military     29       165  
Marine     17       14  
Other (backup DC power to various industries)     39       466  
Total net sales   $ 7,983     $ 8,137  
SCHEDULE OF INVENTORIES NET

 

   

 

June 30,

2022

(unaudited)

   

 

December 31,

2021

 
             
Raw materials   $ 8,863     $ 6,607  
Finished goods     3,122       2,410  
Total Inventories   $ 11,985     $ 9,017  
SCHEDULE OF RECONCILIATION OF THE PRODUCT WARRANTY LIABILITY

 

Changes in estimates for warranties  

 

June 30,

2022

(unaudited)

   

 

December 31,

2021

 
Balance at beginning of the period   $ 600     $ 600  
Payments     (290 )     (658 )
Provision for warranties     290       658  
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:

 

   

 

June 30,

2022

(Unaudited)

   

 

June 30,

2021
(Unaudited)

 
Options     140,000       140,000  
Warrants     24,122       24,122  
Total     164,122       164,122