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)
6 Months Ended
Jun. 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:

 

    Three months ended
June 30,
 
   

2021

(Unaudited)

   

2020

(Unaudited)

 
DC power systems   $ 4,635     $ 1,074  
Engineering & Tech Support Services     142       34  
Accessories     70       18  
Total net sales   $ 4,847     $ 1,126  

 

    Six months ended
June 30,
 
   

2021

(Unaudited)

   

2020

(Unaudited)

 
DC power systems   $ 7,860     $ 3,819  
Engineering & Tech Support Services     170       110  
Accessories     107       58  
Total net sales   $ 8,137     $ 3,987  

 

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

 

    Three months ended
June 30,
 
   

2021

(Unaudited)

   

2020

(Unaudited)

 
Telecommunications   $ 4,440     $ 1,096  
Government/Military     134       4  
Marine     14       2  
Other (backup DC power to various industries)     259       24  
Total net sales   $ 4,847     $ 1,126  

 

    Six months ended
June 30,
 
   

2021

(Unaudited)

   

2020

(Unaudited)

 
Telecommunications   $ 7,492     $ 3,834  
Government/Military     165       8  
Marine     14       3  
Other (backup DC power to various industries)     466       142  
Total net sales   $ 8,137     $ 3,987  
SCHEDULE OF COMPONENTS OF INVENTORIES

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

 

   

June 30, 2021
(unaudited)

    December 31, 2020  
             
Raw materials   $ 5,116     $ 5,527  
Finished goods     3,101       3,567  
Total Inventories, net   $ 8,217     $ 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   June 30, 2021
(unaudited)
    December 31, 2020  
Balance at beginning of the period   $ 600     $ 375  
Payments     (244 )     (634 )
Provision for warranties     244       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:

 

    June 30, 2021
(Unaudited)
    June 30, 2020
(Unaudited)
 
Options     140,000       140,000  
Warrants     24,122       115,000  
Total     164,122       255,000