| Schedule of disaggregated net sales |
| |
|
Three months ended
September 30, |
|
| |
|
2019 (Unaudited)
|
|
|
2018 (Unaudited)
|
|
| DC power systems |
|
$ |
6,713,525 |
|
|
$ |
4,958,670 |
|
| Engineering & Tech Support Services |
|
|
63,011 |
|
|
|
39,445 |
|
| Accessories |
|
|
162,782 |
|
|
|
63,043 |
|
| Total net sales |
|
$ |
6,939,318 |
|
|
$ |
5,061,158 |
|
| |
|
Nine months ended
September 30, |
|
| |
|
2019 (Unaudited)
|
|
|
2018 (Unaudited)
|
|
| DC power systems |
|
$ |
23,146,223 |
|
|
$ |
15,288,835 |
|
| Engineering & Tech Support Services |
|
|
232,998 |
|
|
|
69,667 |
|
| Accessories |
|
|
543,430 |
|
|
|
390,343 |
|
| Total net sales |
|
$ |
23,922,651 |
|
|
$ |
15,748,845 |
|
| |
|
Three months ended
September 30, |
|
| |
|
2019 (Unaudited)
|
|
|
2018 (Unaudited)
|
|
| Telecom |
|
$ |
6,753,226 |
|
|
$ |
4,246,099 |
|
| Government/Military |
|
|
39,822 |
|
|
|
659,912 |
|
| Marine |
|
|
— |
|
|
|
32,016 |
|
| Other (backup DC power to various industries) |
|
|
146,270 |
|
|
|
123,131 |
|
| Total net sales |
|
$ |
6,939,318 |
|
|
$ |
5,061,158 |
|
| |
|
Nine months ended
September 30, |
|
| |
|
2019 (Unaudited)
|
|
|
2018 (Unaudited)
|
|
| Telecom |
|
$ |
22,497,099 |
|
|
$ |
14,054,886 |
|
| Government/Military |
|
|
588,482 |
|
|
|
1,257,292 |
|
| Marine |
|
|
60,642 |
|
|
|
87,010 |
|
| Other (backup DC power to various industries) |
|
|
776,428 |
|
|
|
349,657 |
|
| Total net sales |
|
$ |
23,922,651 |
|
|
$ |
15,748,845 |
|
|
| Schedule of components of inventory |
| |
|
September 30, 2019 (Unaudited)
|
|
|
December 31, 2018
|
|
| |
|
|
|
|
|
|
| Raw materials |
|
$ |
9,654,350 |
|
|
$ |
6,060,448 |
|
| Finished goods |
|
|
4,818,545 |
|
|
|
2,741,321 |
|
| |
|
|
14,472,895 |
|
|
|
8,801,769 |
|
| Less: Inventory reserve |
|
|
(330,000 |
) |
|
|
(330,000 |
) |
| Total Inventories, net |
|
$ |
14,802,895 |
|
|
$ |
8,471,769 |
|
|
| Schedule of reconciliation of the product warranty liability |
| Changes in estimates for warranties |
|
September 30, 2019 (Unaudited)
|
|
|
December 31, 2018
|
|
| Balance at beginning of the period |
|
$ |
175,000 |
|
|
$ |
175,000 |
|
| Payments |
|
|
(381,301 |
) |
|
|
(364,163 |
) |
| Provision for warranties |
|
|
381,301 |
|
|
|
364,163 |
|
| Balance at end of the period |
|
$ |
175,000 |
|
|
$ |
175,000 |
|
|