Annual report pursuant to Section 13 and 15(d)

Organization and Summary of Significant Accounting Policies (Tables)

v3.21.1
Organization and Summary of Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2020
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:

 

    Years Ended December 31,  
    2020     2019  
DC power systems   $ 8,659     $ 24,177  
Engineering & Tech Support Services     226       281  
Accessories     146       343  
Total net sales   $ 9,031     $ 24,801  

 

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

 

    Years Ended December 31,  
    2020     2019  
Telecom   $ 8,640     $ 23,753  
Government/Military     120       589  
Marine     5       83  
Other (backup DC power to various industries)     266       376  
Total net sales   $ 9,031     $ 24,801  

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:

 

    Years End December 31,  
    2020     2019  
Changes in estimates for warranties            
Balance at beginning of the period   $ 375     $ 175  
Payments     (634 )     (530 )
Provision for warranties     859       730  
                 
Balance at end of the period   $ 600     $ 375  

Schedule of Components of Inventories

As of December 31, 2020 and 2019, inventories consisted of the following:

 

    Years Ended December 31,  
    2020     2019  
Raw materials   $ 5,527     $ 8,051  
Finished goods     3,567       5,861  
Inventories   $ 9,094     $ 13,912  

Schedule of Estimated Life

Estimated useful lives of the principal classes of assets are as follows:

 

    Estimated life
Production tooling, jigs, fixtures   3-5 years
Shop equipment and machinery   5 years
Vehicles   3-5 years
Leasehold improvements   Shorter of the lease term or estimated useful life
Office equipment   5 years
Software   5 years

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:

 

    December 31,  
    2020     2019  
Options     140,000       140,000  
Warrants     370,000       120,000  
Total     510,000       260,000