Pioneer Power Solutions (PPSI) 10-Q14 Nov 222022 Q3 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	9 Months Ended
Cover - shares	Sep. 30, 2022	Nov. 14, 2022
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2022
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	001-35212
Entity Registrant Name	PIONEER POWER SOLUTIONS, INC.
Entity Central Index Key	0001449792
Entity Tax Identification Number	27-1347616
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	400 Kelby Street
Entity Address, Address Line Two	12th Floor
Entity Address, City or Town	Fort Lee
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07024
City Area Code	(212)
Local Phone Number	867-0700
Title of 12(b) Security	Common Stock
Trading Symbol	PPSI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		9,644,545

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Income Statement [Abstract]
Revenues	$ 6,251	$ 5,685	$ 17,476	$ 14,813
Cost of goods sold	5,390	4,972	15,629	13,445
Gross profit	861	713	1,847	1,368
Operating expenses
Selling, general and administrative	2,305	1,231	6,636	3,738
Total operating expenses	2,305	1,231	6,636	3,738
Loss from operations	(1,444)	(518)	(4,789)	(2,370)
Interest income	(116)	(99)	(322)	(288)
Other (income) expense, net	(17)	13	112	(1,294)
Loss before taxes	(1,311)	(432)	(4,579)	(788)
Income tax expense (benefit)		2	7	(19)
Net loss	$ (1,311)	$ (434)	$ (4,586)	$ (769)
Loss per share:
Basic	$ (0.13)	$ (0.05)	$ (0.47)	$ (0.09)
Diluted	$ (0.13)	$ (0.05)	$ (0.47)	$ (0.09)
Weighted average common shares outstanding:
Basic	9,770	8,726	9,713	8,726
Diluted	9,770	8,726	9,713	8,726

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unzudited) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Current assets
Cash	$ 7,210	$ 9,924
Restricted cash		1,775
Notes receivable and accrued interest	6,100	5,778
Accounts receivable, net	3,822	2,429
Inventories	8,479	4,160
Prepaid expenses and other current assets	840	1,069
Total current assets	26,451	25,135
Property and equipment, net	794	516
Right-of-use assets	2,116	2,237
Other assets	84	39
Total assets	29,445	27,927
Current liabilities
Accounts payable and accrued liabilities	5,678	4,159
Deferred revenue	6,621	2,423
Total current liabilities	12,299	6,582
Other long-term liabilities	1,304	1,793
Total liabilities	13,603	8,375
Stockholders’ equity
Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued
Common stock, $0.001 par value, 30,000,000 shares authorized; 9,644,545 and 9,640,545 shares issued and outstanding on September 30, 2022 and December 31, 2021, respectively	10	10
Additional paid-in capital	32,716	31,840
Accumulated other comprehensive income	14	14
Accumulated deficit	(16,898)	(12,312)
Total stockholders’ equity	15,842	19,552
Total liabilities and stockholders’ equity	$ 29,445	$ 27,927

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unzudited) (Parenthetical) - $ / shares	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	30,000,000	30,000,000
Common stock, issued	9,644,545	9,640,545
Common stock, outstanding	9,644,545	9,640,545

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Operating activities
Net loss	$ (4,586)	$ (769)
Depreciation	113	110
Amortization of right-of-use finance leases	177	219
Amortization of imputed interest	(321)	(321)
Interest expense from PPP Loan		4
Gain on forgiveness of PPP Loan		(1,417)
Amortization of right-of-use operating leases	495	421
Change in receivable reserves	(140)	68
Proceeds from insurance receivable		95
Stock-based compensation	859	129
Changes in current operating assets and liabilities:
Accounts receivable	(1,253)	(758)
Inventories	(4,319)	(1,097)
Prepaid expenses and other assets	167	247
Income taxes	24	401
Accounts payable and accrued liabilities	1,141	541
Deferred revenue	4,198	1,549
Principal repayments of operating leases	(491)	(413)
Net cash used in operating activities	(3,936)	(991)
Investing activities
Additions to property and equipment	(391)	(156)
Net cash used in investing activities	(391)	(156)
Financing activities
Net proceeds from the exercise of options for common stock	17
Dividend paid to shareholders		(1,047)
Principal repayments of financing leases	(179)	(226)
Net cash used in financing activities	(162)	(1,273)
Decrease in cash and restricted cash	(4,489)	(2,420)
Cash, and restricted cash, beginning of year	11,699	7,567
Cash, and restricted cash, end of period	7,210	5,147
Non-cash investing and financing activities:
Acquisition of right-of-use assets and lease liabilities	$ 551	$ 1,418

Consolidated Statement of Stock

Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance Beginning at Dec. 31, 2020	$ 9	$ 23,981	$ 14	$ (10,145)	$ 13,859
Balance Beginning (in shares) at Dec. 31, 2020	8,726,045
Net loss				(769)	(769)
Stock-based compensation		129			129
Dividend to shareholders		(1,047)			(1,047)
Balance Ending at Sep. 30, 2021	$ 9	23,063	14	(10,914)	12,172
Balance Ending (in shares) at Sep. 30, 2021	8,726,045
Balance Beginning at Jun. 30, 2021	$ 9	23,005	14	(10,480)	12,548
Balance Beginning (in shares) at Jun. 30, 2021	8,726,045
Net loss				(434)	(434)
Stock-based compensation		58			58
Balance Ending at Sep. 30, 2021	$ 9	23,063	14	(10,914)	12,172
Balance Ending (in shares) at Sep. 30, 2021	8,726,045
Balance Beginning at Dec. 31, 2021	$ 10	31,840	14	(12,312)	$ 19,552
Balance Beginning (in shares) at Dec. 31, 2021	9,640,545				9,640,545
Net loss					$ (740)
Balance Ending at Mar. 31, 2022					18,886
Balance Beginning at Dec. 31, 2021	$ 10	31,840	14	(12,312)	$ 19,552
Balance Beginning (in shares) at Dec. 31, 2021	9,640,545				9,640,545
Net loss					$ (3,275)
Balance Ending at Jun. 30, 2022	$ 10	32,573	14	(15,587)	17,010
Balance Ending (in shares) at Jun. 30, 2022	9,644,545
Balance Beginning at Dec. 31, 2021	$ 10	31,840	14	(12,312)	$ 19,552
Balance Beginning (in shares) at Dec. 31, 2021	9,640,545				9,640,545
Net loss				(4,586)	$ (4,586)
Stock-based compensation		859			859
Exercise of stock options		17			$ 17
Exercise of stock options (in shares)	4,000				4,000
Balance Ending at Sep. 30, 2022	$ 10	32,716	14	(16,898)	$ 15,842
Balance Ending (in shares) at Sep. 30, 2022	9,644,545				9,644,545
Balance Beginning at Mar. 31, 2022					$ 18,886
Net loss					(2,536)
Balance Ending at Jun. 30, 2022	$ 10	32,573	14	(15,587)	17,010
Balance Ending (in shares) at Jun. 30, 2022	9,644,545
Net loss				(1,311)	(1,311)
Stock-based compensation		143			143
Balance Ending at Sep. 30, 2022	$ 10	$ 32,716	$ 14	$ (16,898)	$ 15,842
Balance Ending (in shares) at Sep. 30, 2022	9,644,545				9,644,545

BASIS OF PRESENTATION

BASIS OF PRESENTATION	9 Months Ended
BASIS OF PRESENTATION	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION Overview Pioneer Power Solutions, Inc. and its wholly owned subsidiaries (referred to herein as the “Company,” “Pioneer,” “Pioneer Power,” “we,” “our” and “us”) design, manufacture, integrate, refurbish, service, distribute and sell electric power systems, distributed energy resources, power generation equipment and mobile electric vehicle (“EV”) charging solutions. Our products and services are sold to a broad range of customers in the utility, industrial and commercial markets. Our customers include, but are not limited to, electric, gas and water utilities, data center developers and owners, EV charging infrastructure developers and owners, and distributed energy developers. The Company is headquartered in Fort Lee, New Jersey and operates from three ( 3 We have two reportable segments as defined in our Annual Report on Form 10-K for the year ended December 31, 2021, as filed with the Securities and Exchange Commission (the “SEC”) on March 31, 2022: Transmission and Distribution Solutions (“T&D Solutions”) and Critical Power Solutions (“Critical Power”). Presentation The accompanying unaudited interim consolidated financial statements of the Company have been prepared pursuant to the rules of the SEC and reflect the accounts of the Company as of September 30, 2022. Certain information and footnote disclosures, normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”), have been condensed or omitted pursuant to those rules and regulations. We believe that the disclosures made are adequate to make the information presented not misleading to the reader. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary to fairly state the financial position, results of operations and cash flows with respect to the interim consolidated financial statements have been included. The results of operations for the interim period are not necessarily indicative of the results for the entire fiscal year. The year-end balance sheet data was derived from audited financial statements but does not include all disclosures required by U.S. GAAP for a year-end balance sheet. All dollar amounts (except share and per share data) presented in the notes to our unaudited interim consolidated financial statements are stated in thousands of dollars, unless otherwise noted. Amounts may not foot due to rounding. ASC 740-270 requires the use of an estimated annual effective tax rate to compute the tax provision during an interim period unless certain exceptions are met. We have used a discrete-period computation method to calculate taxes for the fiscal three and nine-month periods ended September 30, 2022. Due to projected operating losses for the year, the Company anticipates that its annual effective tax rate will be 0 100 These unaudited interim consolidated financial statements include the accounts of Pioneer and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. These unaudited interim consolidated financial statements should be read in conjunction with the risk factors under the heading “Part II - Item 1A. Risk Factors” and the risk factors and the audited consolidated financial statements and notes thereto of the Company and its subsidiaries included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. Liquidity The accompanying financial statements have been prepared on a basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements as of September 30, 2022, the Company had $ 7.2 14.2 We have met our cash needs through a combination of cash flows from operating activities and bank borrowings, the completion of the Equity Transaction (as defined herein), proceeds from the sale of the CleanSpark Common Stock and warrants to purchase CleanSpark Common Stock, proceeds from insurance and the sale of common stock under the At The Market Sale Agreement and funding from the Payroll Protection Program. Our cash requirements historically were generally for operating activities, debt repayment, capital improvements and acquisitions. We expect to meet our cash needs with our working capital and cash flows from our operating activities. We expect our cash requirements to be generally for operating activities, product development and capital improvements. The Company expects that its current cash balance is sufficient to fund operations for the next twelve months. On June 1, 2021 0.12 June 22, 2021 July 7, 2021 0.12 0.001 During the year ended December 31, 2021, the Company executed a cash collateral security agreement with a commercial bank, which agreement required us to pledge cash collateral as security for all unpaid reimbursement obligations owing to the commercial bank for an irrevocable standby letter of credit in the amount of $ 1.8 million 1.3 million 505 The Company accounts for restricted cash under the guidance of ASU No. 2016-18, Statement of Cash Flows - Restricted Cash (Topic 230), which requires the statement of cash flows to explain the change during the period in the total of cash, cash equivalents, and restricted cash and that restricted cash be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the unaudited interim consolidated statement of cash flows: September 30, December 31, 2022 2021 Cash $ 7,210 $ 9,924 Restricted cash — 1,775 Total cash and restricted cash as shown in the statement of cash flows $ 7,210 $ 11,699 COVID-19 The full impact of the COVID-19 pandemic and its ongoing effects continues to evolve as the date of this report. As such, it continues to be uncertain as to the full magnitude that the pandemic will have on the Company’s financial condition, liquidity, and future results of operations. The Company was able to operate substantially at capacity during the COVID-19 pandemic. Management is actively monitoring the global situation on its financial condition, liquidity, operations, suppliers, industry, and workforce. Given the daily evolution of the COVID-19 pandemic, its ongoing effects, and the global responses to the continuing crisis, the Company is not able to estimate the full effects of the COVID-19 pandemic and its ongoing effects at this time, however, if the ongoing effects of the COVID-19 pandemic continue or worsen, it may have an adverse effect on the Company’s results of operations, financial condition, or liquidity. On March 27, 2020, then President Trump signed into law the “Coronavirus Aid, Relief, and Economic Security (CARES) Act” (the “CARES Act”). The CARES Act, among other things, appropriates funds for the SBA Paycheck Protection Program loans that are forgivable in certain situations to promote continued employment. On April 13, 2020, after having determined that it met the qualifications for this loan program due to the impact that COVID-19 would have on our financial condition, results of operations, and/or liquidity and applying for relief, the Company received a loan under the SBA Paycheck Protection Program (the “PPP Loan”) in the amount of $ 1.4 Under the terms of the PPP Loan, the Company was eligible for full or partial loan forgiveness. During the first quarter of 2021, the Company received full forgiveness of the PPP Loan and recognized a $ 1.4 Reclassification The following items have been reclassified in the 2021 financial statements: The unaudited consolidated statements of cash flows contain a reclassification of the gain on the extinguishment and forgiveness of the PPP Loan from financing activities to operating activities for the nine months ended September 30, 2021. Additionally, principal repayments of financing leases and the reduction in operating leases have been reclassified and presented in the applicable cash flow activity for the nine months ended September 30, 2021. The inventories footnote contains a reclassification of the provision for excess and obsolete inventory and reductions to net realizable value to the applicable inventory classification at December 31, 2021.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2022
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company’s significant accounting policies are described in Note 2 to the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021. There have been no significant changes in the Company’s accounting policies during the third quarter of 2022. Recent Accounting Pronouncements There have been no recent accounting pronouncements not yet adopted by the Company which would have a material impact on the Company’s financial statements. Measurement of Credit Losses on Financial Instrument

REVENUES

REVENUES	9 Months Ended
REVENUES	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
REVENUES	3. REVENUES Nature of our products and services Our principal products and services include electric power systems, distributed energy resources, power generation equipment and mobile EV charging solutions. Products Our T&D Solutions business provides electric power systems and distributed energy resources that help customers effectively and efficiently protect, control, transfer, monitor and manage their electric energy requirements. Our Critical Power business provides customers with our suite of mobile e-Boost electric vehicle charging solutions and power generation equipment. Services Power generation systems represent considerable investments that require proper maintenance and service in order to operate reliably during a time of emergency. Our power maintenance programs provide preventative maintenance, repair and support service for our customers’ power generation systems. Our principal source of revenue is derived from sales of products and fees for services. We measure revenue based upon the consideration specified in the customer arrangement, and revenue is recognized when the performance obligations in the customer arrangement are satisfied. A performance obligation is a promise in a contract to transfer a distinct product or service to the customer. The transaction price of a contract is allocated to each distinct performance obligation and recognized as revenue when or as, the customer receives the benefit of the performance obligation. Customers typically receive the benefit of our products when the risk of loss or control for the product transfers to the customer and for services as they are performed. Under ASC 606, revenue is recognized when a customer obtains control of promised products or services in an amount that reflects the consideration we expect to receive in exchange for those products or services. To achieve this core principal, the Company applies the following five steps: 1) Identify the contract with a customer A contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the products or services to be transferred and identifies the payment terms related to these products or services, (ii) the contract has commercial substance and, (iii) the Company determines that collection of substantially all consideration for products or services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. The Company applies judgment in determining the customer’s ability and intention to pay, which is based on a variety of factors including the customer’s historical payment experience or, in the case of a new customer, published credit and financial information pertaining to the customer. 2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the products or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the product or service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the products or services is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised products or services, the Company must apply judgment to determine whether promised products or services are capable of being distinct and distinct in the context of the contract. If these criteria are not met the promised products or services are accounted for as a combined performance obligation. 3) Determine the transaction price The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring products or services to the customer. The customer payments are generally due in 30 days. 4) Allocate the transaction price to performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price basis or cost of the product or service. The Company determines standalone selling price based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. 5) Recognize revenue when or as the Company satisfies a performance obligation The Company satisfies performance obligations either over time or at a point in time. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised product or service to a customer. Revenue from the sale of our electric power systems is recognized either over time or at a point in time and substantially all of our revenue from the sale of power generation equipment is recognized at a point in time. Revenues are recognized at the point in time that the customer obtains control of the good, which is when it has taken title to the products and has assumed the risks and rewards of ownership specified in the purchase order or sales agreement. Certain sales of highly customized electrical power systems are recognized over time when such equipment has no alternative use and the Company has an enforceable right to payment for performance completed to date. Revenue for such agreements is recognized under the input method based on either cost or direct labor hours incurred relative to the estimated cost or direct labor hours expected to be consumed to complete the project. Under the cost-to-cost method of revenue recognition, a single estimated profit margin is used to recognize profit for each performance obligation over its period of performance. Recognition of profit on a contract requires estimates of the total cost at completion and transaction price and the measurement of progress towards completion. Due to the nature of many of our contracts, developing the estimated total cost at completion and total transaction price often requires judgment. Factors that must be considered in estimating the cost of the work to be completed include the nature and complexity of the work to be performed, subcontractor performance and the risk and impact of delayed performance. When adjustments in estimated total costs at completion or in estimated total transaction price are determined, the related impact on income is recognized using the cumulative catch-up method, which recognizes in the current period the cumulative effect of such adjustments for all prior periods. Any anticipated losses on these contracts are fully recognized in the period in which the losses become evident. During the three months ended September 30, 2022 and 2021, the Company recognized $ 1.8 3.4 8.7 6 Service revenues include maintenance contracts that are recognized over time based on the contract term and repair services, which are recognized as services are delivered. The Company recognized $ 2.1 2 5.4 5.5 During the three months ended September 30, 2022 and 2021, the Company recognized $ 2.4 262 2 227 3.3 3.4 2.9 3.1 During the three months ended September 30, 2022, the Company recognized approximately $ 81 225 During the nine months ended September 30, 2022, the Company recognized approximately $ 2.1 284 There was no revenue recognized during the three and nine months ended September 30, 2022 and 2021 from performance obligations satisfied in prior periods. The Company manages its accounts receivable credit risk by performing credit evaluations and monitoring amounts due from the Company’s customers. The Company had certain customers whose revenue individually represented 10% or more of the Company’s total revenue, or whose accounts receivable balances individually represented 10% or more of the Company’s total accounts receivable. At September 30, 2022, three customers represented approximately 40 21 13 32 11 For the nine months ended September 30, 2022, two customers represented approximately 31 12 23 22 Return of a product requires that the buyer obtain permission in writing from the Company. When the buyer requests authorization to return material for reasons of their own, the buyer will be charged for placing the returned goods in saleable condition, restocking charges and for any outgoing and incoming transportation paid by the Company. The Company warrants title to the products, and also warrants the products on date of shipment to the buyer, to be of the kind and quality described in the contract, merchantable, and free of defects in workmanship and material. Returns and warranties during three and nine months ended September 30, 2022 and 2021 were insignificant. The following table presents our revenues disaggregated by revenue discipline: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Products $ 4,198 $ 3,690 $ 12,032 $ 9,359 Services 2,053 1,995 5,444 5,454 Total revenue $ 6,251 $ 5,685 $ 17,476 $ 14,813 See “Note 12 - Business Segment and Geographic Information in Notes to Consolidated Financial Statements” in Part I of this Quarterly Report on Form 10-Q.

REVISION OF PRIOR PERIOD FINANC

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS	9 Months Ended
REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS	Sep. 30, 2022
Accounting Changes and Error Corrections [Abstract]
REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS	4. REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS In connection with the preparation of our consolidated interim financial statements for the quarter ended September 30, 2022, we completed an analysis of one of our customer contracts under ASC 606 and, as a result, we determined that the performance obligations are satisfied over time. See “Note 3 – Revenues in Notes to Consolidated Financial Statements” in Part I of this Quarterly Report on Form 10-Q. As a result of the analysis, we identified additional revenues to be recognized of $ 326 574 278 592 The following tables reconcile the balances as previously reported in the Quarterly Reports on Form 10-Q as of and for the three months ended March 31, 2022 and as of and for the three and six months ended June 30, 2022 to the as revised balances: For The Three Months Ended March 31, 2022 Condensed Consolidated Statements of Operations (Unaudited) As Reported Adjustment As Revised Revenues $ 6,036 $ 326 $ 6,362 Cost of goods sold $ 5,161 $ 278 $ 5,439 Gross profit $ 875 $ 48 $ 923 Net loss $ (788 ) $ 48 $ (740 ) Loss per share - basic and diluted $ (0.08 ) — $ (0.08 ) Weighted average common shares outstanding - basic and diluted 9,641 — 9,641 For The Three Months Ended June 30, 2022 Condensed Consolidated Statements of Operations (Unaudited) As Reported Adjustment As Revised Revenues $ 4,289 $ 574 $ 4,863 Cost of goods sold $ 4,208 $ 592 $ 4,800 Gross profit $ 81 $ (19 ) $ 62 Net loss $ (2,517 ) $ (19 ) $ (2,536 ) Loss per share - basic and diluted $ (0.26 ) — $ (0.26 ) Weighted average common shares outstanding - basic and diluted 9,728 — 9,728 For The Six Months Ended June 30, 2022 Condensed Consolidated Statements of Operations (Unaudited) As Reported Adjustment As Revised Revenues $ 10,325 $ 900 $ 11,225 Cost of goods sold $ 9,369 $ 870 $ 10,239 Gross profit $ 956 $ 30 $ 986 Net loss $ (3,305 ) $ 30 $ (3,275 ) Loss per share - basic and diluted $ (0.34 ) — $ (0.34 ) Weighted average common shares outstanding - basic and diluted 9,685 — 9,685 March 31, 2022 Condensed Consolidated Balance Sheet (Unaudited) As Reported Adjustment As Revised Total current assets $ 32,162 $ (278 ) $ 31,884 Total assets 34,983 (278 ) 34,705 Total current liabilities 14,719 (326 ) 14,393 Total liabilities 16,145 (326 ) 15,819 Total stockholders’ equity 18,838 48 18,886 June 30, 2022 Condensed Consolidated Balance Sheet (Unaudited) As Reported Adjustment As Revised Total current assets $ 31,080 $ (870 ) $ 30,210 Total assets 34,116 (870 ) 33,246 Total current liabilities 15,696 (900 ) 14,796 Total liabilities 17,136 (900 ) 16,236 Total stockholders’ equity 16,980 30 17,010 For The Three Months Ended March 31, 2022 Cash Flows From Operating Activities (Unaudited) As Reported Adjustment As Revised Net loss $ (788 ) $ 48 $ (740 ) Changes in current operating assets and liabilities: Inventories (2,805 ) 278 (2,527 ) Deferred revenue 4,895 (326 ) 4,569 Net cash provided by operating activities 2,087 — 2,087 For The Six Months Ended June 30, 2022 Cash Flows From Operating Activities (Unaudited) As Reported Adjustment As Revised Net loss $ (3,305 ) $ 30 $ (3,275 ) Changes in current operating assets and liabilities: Inventories (4,857 ) 870 (3,987 ) Deferred revenue 6,866 (900 ) 5,966 Net cash used in operating activities (1,621 ) — (1,621 ) For The Three Months Ended March 31, 2022 Consolidated Statement of Stockholders’ Equity (Unaudited) As Reported Adjustment As Revised Accumulated deficit $ (13,100 ) $ 48 $ (13,052 ) Total stockholders’ equity 18,838 48 18,886 For The Six Months Ended June 30, 2022 Consolidated Statement of Stockholders’ Equity (Unaudited) As Reported Adjustment As Revised Accumulated deficit $ (15,617 ) $ 30 $ (15,587 ) Total stockholders’ equity 16,980 30 17,010 In accordance with SEC Staff Accounting Bulletin No. 108, we evaluated this revision based on an analysis of quantitative and qualitative factors as to whether it was material to the consolidated statements of operations for the three months ended March 31, 2022 and June 30, 2022 and if amendments of previously filed financial statements with the SEC are required. We determined that the adjustment is neither quantitatively nor qualitatively material and, therefore, the revision does not have a material impact to the consolidated statements of operations for the three months ended March 31, 2022, the three and six months ended June 30, 2022 or other prior periods.

OTHER (INCOME) EXPENSE

OTHER (INCOME) EXPENSE	9 Months Ended
OTHER (INCOME) EXPENSE	Sep. 30, 2022
Other Income and Expenses [Abstract]
OTHER (INCOME) EXPENSE	5. OTHER (INCOME) EXPENSE Other (income) expense in the unaudited interim consolidated statements of operations reports certain gains and losses associated with activities not directly related to our core operations. For the three months ended September 30, 2022, other income was $ 17 13 For the nine months ended September 30, 2022, other expense was $ 112 1.3 1.4

INVENTORIES

INVENTORIES	9 Months Ended
INVENTORIES	Sep. 30, 2022
Inventory Disclosure [Abstract]
INVENTORIES	6. INVENTORIES The components of inventories are summarized below: September 30, December 31, 2022 2021 Raw materials $ 3,119 $ 993 Work in process 5,360 3,167 Total inventories $ 8,479 $ 4,160 Inventories are stated at the lower of cost or a net realizable value determined on a weighted average method.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
PROPERTY AND EQUIPMENT	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	7. PROPERTY AND EQUIPMENT Property and equipment are summarized below: September 30, December 31, Property and equipment 2022 2021 Machinery, vehicles and equipment $ 1,610 $ 1,396 Furniture and fixtures 208 205 Computer hardware and software 567 541 Leasehold improvements 368 322 Construction in progress 100 — Property and equipment 2,853 2,464 Less: accumulated depreciation (2,059 ) (1,948 ) Total property and equipment, net $ 794 $ 516 Depreciation expense was $ 40 35 Depreciation expense was $ 113 110

NOTES RECEIVABLE

NOTES RECEIVABLE	9 Months Ended
NOTES RECEIVABLE	Sep. 30, 2022
Receivables [Abstract]
NOTES RECEIVABLE	8. NOTES RECEIVABLE In connection with the sale of the transformer business units in August 2019 (the “Equity Transaction”), amongst other consideration, we received two subordinated promissory notes in the aggregate principal amount of $ 5 2.5 7.5 4 December 31, 2022 1.8 5 3.2 194 322 6.1

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	9 Months Ended
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	Sep. 30, 2022
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	9. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES The components of accounts payable and accrued liabilities are summarized below: September 30, December 31, 2022 2021 Accounts payable $ 3,433 $ 2,089 Accrued liabilities 1,273 1,263 Current portion of lease liabilities 972 807 Total accounts payable and accrued liabilities $ 5,678 $ 4,159 Accrued liabilities primarily consist of accrued sales commissions, accrued compensation and benefits, accrued professional fees and accrued insurance. At September 30, 2022 and December 31, 2021, accrued sales commissions were $ 148 247 307 270 309 111 319 50 no 481

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
STOCKHOLDERS’ EQUITY	Sep. 30, 2022
Equity [Abstract]
STOCKHOLDERS’ EQUITY	10. STOCKHOLDERS’ EQUITY Common Stock The Company had 9,644,545 9,640,545 0.001 Stock-Based Compensation A summary of stock option activity during the nine months ended September 30, 2022 is as follows: Stock Weighted average Weighted Aggregate Outstanding as of January 1, 2022 647,667 $ 5.53 Granted 27,000 3.17 Exercised (4,000 ) 4.11 Outstanding as of September 30, 2022 670,667 $ 5.45 5.90 $ 58 Exercisable as of September 30, 2022 643,667 $ 5.54 5.70 $ 58 On April 25, 2022, the Company awarded 375,000 125,000 125,000 125,000 1.6 A summary of RSU activity during the nine months ended September 30, 2022, is as follows: Weighted-average grant-date Number of units fair value Unvested restricted stock units as of January 1, 2022 — $ — Units granted 375,000 1,631 Units vested (125,000 ) (544 ) Units forfeited — — Unvested restricted stock units as of September 30, 2022 250,000 $ 1,087 As of September 30, 2022, there were 498,000 Stock-based compensation expense recorded for the three and nine months ended September 30, 2022 was approximately $ 143 859 58 129 878 1.6

BASIC AND DILUTED LOSS PER COMM

BASIC AND DILUTED LOSS PER COMMON SHARE	9 Months Ended
BASIC AND DILUTED LOSS PER COMMON SHARE	Sep. 30, 2022
Earnings Per Share [Abstract]
BASIC AND DILUTED LOSS PER COMMON SHARE	11. BASIC AND DILUTED LOSS PER COMMON SHARE Basic and diluted loss per common share is calculated based on the weighted average number of vested shares outstanding even if such shares are not legally outstanding during the period. The Company’s employee and director equity awards, as well as incremental shares issuable upon exercise of warrants, are not considered in the calculations if the effect would be anti-dilutive. The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Numerator: Net loss $ (1,311 ) $ (434 ) $ (4,586 ) $ (769 ) Denominator: Weighted average basic shares outstanding 9,770 8,726 9,713 8,726 Effect of dilutive securities - equity based compensation plans — — — — Denominator for diluted net loss per common share 9,770 8,726 9,713 8,726 Net loss per common share: Basic $ (0.13 ) $ (0.05 ) $ (0.47 ) $ (0.09 ) Diluted $ (0.13 ) $ (0.05 ) $ (0.47 ) $ (0.09 ) As of September 30, 2022 and 2021, diluted loss per share excludes 671 674

BUSINESS SEGMENT AND GEOGRAPHIC

BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION	9 Months Ended
BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION	Sep. 30, 2022
Segment Reporting [Abstract]
BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION	12. BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION The Company follows ASC 280 Segment Reporting in determining its reportable segments. The Company considered the way its management team, most notably its chief operating decision maker, makes operating decisions and assesses performance and considered which components of the Company’s enterprise have discrete financial information available. As the Company makes decisions using a manufactured products vs. distributed products and services group focus, its analysis resulted in two The T&D Solutions segment is involved in the design, manufacture and distribution of switchgear used primarily by large industrial and commercial operations to manage their electrical power distribution needs. The Critical Power segment provides power generation equipment and aftermarket field-services primarily to help customers ensure smooth, uninterrupted power to operations during times of emergency. The following tables present information about segment income (loss): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Revenues T&D Solutions Power Systems $ 3,773 $ 2,996 $ 10,029 $ 7,980 Service — — 10 — 3,773 2,996 10,039 7,980 Critical Power Solutions Equipment 425 694 2,003 1,379 Service 2,053 1,995 5,434 5,454 2,478 2,689 7,437 6,833 Consolidated $ 6,251 $ 5,685 $ 17,476 $ 14,813 Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Depreciation and amortization T&D Solutions $ 14 $ 15 $ 35 $ 50 Critical Power Solutions 73 76 234 257 Unallocated corporate overhead expenses 7 7 21 22 Consolidated $ 94 $ 98 $ 290 $ 329 Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Operating income (loss) T&D Solutions $ 171 $ (100 ) $ (183 ) $ (664 ) Critical Power Solutions (765 ) 160 (1,676 ) 34 Unallocated corporate overhead expenses (850 ) (578 ) (2,930 ) (1,740 ) Consolidated $ (1,444 ) $ (518 ) $ (4,789 ) $ (2,370 ) Revenues are attributable to countries based on the location of the Company's customers: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Revenues United States $ 6,251 $ 5,685 $ 17,476 $ 14,813

LEASES

LEASES	9 Months Ended
LEASES	Sep. 30, 2022
Leases
LEASES	13. LEASES The Company leases certain offices, facilities and equipment under operating and financing leases. Our leases have remaining terms ranging from less than 1 5 5 1.2 1.6 474 1.1 As of September 30, 2022 and December 31, 2021, assets recorded under operating leases were $ 2.5 3.9 1.2 2.3 The components of the lease expense were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Operating lease cost $ 188 $ 173 $ 563 $ 456 Finance lease cost Amortization of right-of-use asset $ 53 $ 62 $ 177 $ 219 Interest on lease liabilities 10 9 31 30 Total finance lease cost $ 63 $ 71 $ 208 $ 249 Other information related to leases was as follows: Supplemental Cash Flows Information September 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flow payments for operating leases $ 559 $ 449 Operating cash flow payments for finance leases 31 30 Financing cash flow payments for finance leases 178 226 Right-of-use assets obtained in exchange for lease obligations Operating lease liabilities arising from obtaining right of use assets 551 1,418 Weighted Average Remaining Lease Term September 30, 2022 2021 Operating leases 2 years 3 years Finance leases 3 years 2 years Weighted Average Discount Rate September 30, 2022 2021 Operating leases 5.50 % 5.50 % Finance leases 6.61 % 6.76 % Future minimum lease payments under non-cancellable leases as of September 30, 2022 were as follows: Operating Finance Leases Leases 2022 $ 182 $ 74 2023 670 389 2024 508 158 2025 95 174 Thereafter 24 128 Total future minmum lease payments 1,479 923 Less imputed interest (92 ) (102 ) Total future minmum lease payments $ 1,387 $ 821 Reported as of September 30, 2022: Operating Finance Leases Leases Right-of-use assets $ 1,343 $ 773 Operating Finance Leases Leases Accounts payable and accrued liabilities $ 621 $ 351 Other long-term liabilities 766 470 Total $ 1,387 $ 821

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2022
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements There have been no recent accounting pronouncements not yet adopted by the Company which would have a material impact on the Company’s financial statements. Measurement of Credit Losses on Financial Instrument

BASIS OF PRESENTATION (Tables)

BASIS OF PRESENTATION (Tables)	9 Months Ended
BASIS OF PRESENTATION (Tables)	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the unaudited interim consolidated statement of cash flows:	The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the unaudited interim consolidated statement of cash flows: September 30, December 31, 2022 2021 Cash $ 7,210 $ 9,924 Restricted cash — 1,775 Total cash and restricted cash as shown in the statement of cash flows $ 7,210 $ 11,699

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
REVENUES (Tables)	Sep. 30, 2022
Revenue from Contract with Customer [Abstract]
The following table presents our revenues disaggregated by revenue discipline:	The following table presents our revenues disaggregated by revenue discipline: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Products $ 4,198 $ 3,690 $ 12,032 $ 9,359 Services 2,053 1,995 5,444 5,454 Total revenue $ 6,251 $ 5,685 $ 17,476 $ 14,813

REVISION OF PRIOR PERIOD FINA_2

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS (Tables)	9 Months Ended
REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS (Tables)	Sep. 30, 2022
Accounting Changes and Error Corrections [Abstract]
The following tables reconcile the balances as previously reported in the Quarterly Reports on Form 10-Q as of and for the three months ended March 31, 2022 and as of and for the three and six months ended June 30, 2022 to the as revised balances:	The following tables reconcile the balances as previously reported in the Quarterly Reports on Form 10-Q as of and for the three months ended March 31, 2022 and as of and for the three and six months ended June 30, 2022 to the as revised balances: For The Three Months Ended March 31, 2022 Condensed Consolidated Statements of Operations (Unaudited) As Reported Adjustment As Revised Revenues $ 6,036 $ 326 $ 6,362 Cost of goods sold $ 5,161 $ 278 $ 5,439 Gross profit $ 875 $ 48 $ 923 Net loss $ (788 ) $ 48 $ (740 ) Loss per share - basic and diluted $ (0.08 ) — $ (0.08 ) Weighted average common shares outstanding - basic and diluted 9,641 — 9,641 For The Three Months Ended June 30, 2022 Condensed Consolidated Statements of Operations (Unaudited) As Reported Adjustment As Revised Revenues $ 4,289 $ 574 $ 4,863 Cost of goods sold $ 4,208 $ 592 $ 4,800 Gross profit $ 81 $ (19 ) $ 62 Net loss $ (2,517 ) $ (19 ) $ (2,536 ) Loss per share - basic and diluted $ (0.26 ) — $ (0.26 ) Weighted average common shares outstanding - basic and diluted 9,728 — 9,728 For The Six Months Ended June 30, 2022 Condensed Consolidated Statements of Operations (Unaudited) As Reported Adjustment As Revised Revenues $ 10,325 $ 900 $ 11,225 Cost of goods sold $ 9,369 $ 870 $ 10,239 Gross profit $ 956 $ 30 $ 986 Net loss $ (3,305 ) $ 30 $ (3,275 ) Loss per share - basic and diluted $ (0.34 ) — $ (0.34 ) Weighted average common shares outstanding - basic and diluted 9,685 — 9,685 March 31, 2022 Condensed Consolidated Balance Sheet (Unaudited) As Reported Adjustment As Revised Total current assets $ 32,162 $ (278 ) $ 31,884 Total assets 34,983 (278 ) 34,705 Total current liabilities 14,719 (326 ) 14,393 Total liabilities 16,145 (326 ) 15,819 Total stockholders’ equity 18,838 48 18,886 June 30, 2022 Condensed Consolidated Balance Sheet (Unaudited) As Reported Adjustment As Revised Total current assets $ 31,080 $ (870 ) $ 30,210 Total assets 34,116 (870 ) 33,246 Total current liabilities 15,696 (900 ) 14,796 Total liabilities 17,136 (900 ) 16,236 Total stockholders’ equity 16,980 30 17,010 For The Three Months Ended March 31, 2022 Cash Flows From Operating Activities (Unaudited) As Reported Adjustment As Revised Net loss $ (788 ) $ 48 $ (740 ) Changes in current operating assets and liabilities: Inventories (2,805 ) 278 (2,527 ) Deferred revenue 4,895 (326 ) 4,569 Net cash provided by operating activities 2,087 — 2,087 For The Six Months Ended June 30, 2022 Cash Flows From Operating Activities (Unaudited) As Reported Adjustment As Revised Net loss $ (3,305 ) $ 30 $ (3,275 ) Changes in current operating assets and liabilities: Inventories (4,857 ) 870 (3,987 ) Deferred revenue 6,866 (900 ) 5,966 Net cash used in operating activities (1,621 ) — (1,621 ) For The Three Months Ended March 31, 2022 Consolidated Statement of Stockholders’ Equity (Unaudited) As Reported Adjustment As Revised Accumulated deficit $ (13,100 ) $ 48 $ (13,052 ) Total stockholders’ equity 18,838 48 18,886 For The Six Months Ended June 30, 2022 Consolidated Statement of Stockholders’ Equity (Unaudited) As Reported Adjustment As Revised Accumulated deficit $ (15,617 ) $ 30 $ (15,587 ) Total stockholders’ equity 16,980 30 17,010

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
INVENTORIES (Tables)	Sep. 30, 2022
Inventory Disclosure [Abstract]
The components of inventories are summarized below:	The components of inventories are summarized below: September 30, December 31, 2022 2021 Raw materials $ 3,119 $ 993 Work in process 5,360 3,167 Total inventories $ 8,479 $ 4,160

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
PROPERTY AND EQUIPMENT (Tables)	Sep. 30, 2022
Property, Plant and Equipment [Abstract]
Property and equipment are summarized below:	Property and equipment are summarized below: September 30, December 31, Property and equipment 2022 2021 Machinery, vehicles and equipment $ 1,610 $ 1,396 Furniture and fixtures 208 205 Computer hardware and software 567 541 Leasehold improvements 368 322 Construction in progress 100 — Property and equipment 2,853 2,464 Less: accumulated depreciation (2,059 ) (1,948 ) Total property and equipment, net $ 794 $ 516

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	9 Months Ended
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Tables)	Sep. 30, 2022
Payables and Accruals [Abstract]
The components of accounts payable and accrued liabilities are summarized below:	The components of accounts payable and accrued liabilities are summarized below: September 30, December 31, 2022 2021 Accounts payable $ 3,433 $ 2,089 Accrued liabilities 1,273 1,263 Current portion of lease liabilities 972 807 Total accounts payable and accrued liabilities $ 5,678 $ 4,159

STOCKHOLDERS_ EQUITY (Tables)

STOCKHOLDERS’ EQUITY (Tables)	9 Months Ended
STOCKHOLDERS’ EQUITY (Tables)	Sep. 30, 2022
Equity [Abstract]
A summary of stock option activity during the nine months ended September 30, 2022 is as follows:	A summary of stock option activity during the nine months ended September 30, 2022 is as follows: Stock Weighted average Weighted Aggregate Outstanding as of January 1, 2022 647,667 $ 5.53 Granted 27,000 3.17 Exercised (4,000 ) 4.11 Outstanding as of September 30, 2022 670,667 $ 5.45 5.90 $ 58 Exercisable as of September 30, 2022 643,667 $ 5.54 5.70 $ 58
A summary of RSU activity during the nine months ended September 30, 2022, is as follows:	A summary of RSU activity during the nine months ended September 30, 2022, is as follows: Weighted-average grant-date Number of units fair value Unvested restricted stock units as of January 1, 2022 — $ — Units granted 375,000 1,631 Units vested (125,000 ) (544 ) Units forfeited — — Unvested restricted stock units as of September 30, 2022 250,000 $ 1,087

BASIC AND DILUTED LOSS PER CO_2

BASIC AND DILUTED LOSS PER COMMON SHARE (Tables)	9 Months Ended
BASIC AND DILUTED LOSS PER COMMON SHARE (Tables)	Sep. 30, 2022
Earnings Per Share [Abstract]
The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share data):	Basic and diluted loss per common share is calculated based on the weighted average number of vested shares outstanding even if such shares are not legally outstanding during the period. The Company’s employee and director equity awards, as well as incremental shares issuable upon exercise of warrants, are not considered in the calculations if the effect would be anti-dilutive. The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share data): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Numerator: Net loss $ (1,311 ) $ (434 ) $ (4,586 ) $ (769 ) Denominator: Weighted average basic shares outstanding 9,770 8,726 9,713 8,726 Effect of dilutive securities - equity based compensation plans — — — — Denominator for diluted net loss per common share 9,770 8,726 9,713 8,726 Net loss per common share: Basic $ (0.13 ) $ (0.05 ) $ (0.47 ) $ (0.09 ) Diluted $ (0.13 ) $ (0.05 ) $ (0.47 ) $ (0.09 )

BUSINESS SEGMENT AND GEOGRAPH_2

BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	9 Months Ended
BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION (Tables)	Sep. 30, 2022
Segment Reporting [Abstract]
The following tables present information about segment income (loss):	The following tables present information about segment income (loss): Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Revenues T&D Solutions Power Systems $ 3,773 $ 2,996 $ 10,029 $ 7,980 Service — — 10 — 3,773 2,996 10,039 7,980 Critical Power Solutions Equipment 425 694 2,003 1,379 Service 2,053 1,995 5,434 5,454 2,478 2,689 7,437 6,833 Consolidated $ 6,251 $ 5,685 $ 17,476 $ 14,813 Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Depreciation and amortization T&D Solutions $ 14 $ 15 $ 35 $ 50 Critical Power Solutions 73 76 234 257 Unallocated corporate overhead expenses 7 7 21 22 Consolidated $ 94 $ 98 $ 290 $ 329 Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Operating income (loss) T&D Solutions $ 171 $ (100 ) $ (183 ) $ (664 ) Critical Power Solutions (765 ) 160 (1,676 ) 34 Unallocated corporate overhead expenses (850 ) (578 ) (2,930 ) (1,740 ) Consolidated $ (1,444 ) $ (518 ) $ (4,789 ) $ (2,370 )
Revenues are attributable to countries based on the location of the Company's customers:	Revenues are attributable to countries based on the location of the Company's customers: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Revenues United States $ 6,251 $ 5,685 $ 17,476 $ 14,813

LEASES (Tables)

LEASES (Tables)	9 Months Ended
LEASES (Tables)	Sep. 30, 2022
Leases
The components of the lease expense were as follows:	The components of the lease expense were as follows: Three Months Ended Nine Months Ended September 30, September 30, 2022 2021 2022 2021 Operating lease cost $ 188 $ 173 $ 563 $ 456 Finance lease cost Amortization of right-of-use asset $ 53 $ 62 $ 177 $ 219 Interest on lease liabilities 10 9 31 30 Total finance lease cost $ 63 $ 71 $ 208 $ 249
Other information related to leases was as follows:	Other information related to leases was as follows: Supplemental Cash Flows Information September 30, 2022 2021 Cash paid for amounts included in the measurement of lease liabilities Operating cash flow payments for operating leases $ 559 $ 449 Operating cash flow payments for finance leases 31 30 Financing cash flow payments for finance leases 178 226 Right-of-use assets obtained in exchange for lease obligations Operating lease liabilities arising from obtaining right of use assets 551 1,418 Weighted Average Remaining Lease Term September 30, 2022 2021 Operating leases 2 years 3 years Finance leases 3 years 2 years Weighted Average Discount Rate September 30, 2022 2021 Operating leases 5.50 % 5.50 % Finance leases 6.61 % 6.76 %
Future minimum lease payments under non-cancellable leases as of September 30, 2022 were as follows:	Future minimum lease payments under non-cancellable leases as of September 30, 2022 were as follows: Operating Finance Leases Leases 2022 $ 182 $ 74 2023 670 389 2024 508 158 2025 95 174 Thereafter 24 128 Total future minmum lease payments 1,479 923 Less imputed interest (92 ) (102 ) Total future minmum lease payments $ 1,387 $ 821
Reported as of September 30, 2022:	Reported as of September 30, 2022: Operating Finance Leases Leases Right-of-use assets $ 1,343 $ 773 Operating Finance Leases Leases Accounts payable and accrued liabilities $ 621 $ 351 Other long-term liabilities 766 470 Total $ 1,387 $ 821

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative)			3 Months Ended		9 Months Ended
BASIS OF PRESENTATION (Details Narrative)	May 11, 2022 USD ($)	Jun. 01, 2021 $ / shares	Mar. 31, 2022 USD ($)	Mar. 31, 2021 USD ($)	Sep. 30, 2022 USD ($) N $ / shares	Sep. 30, 2021 USD ($)	Dec. 31, 2021 $ / shares	Jul. 07, 2021 $ / shares	Apr. 13, 2020 USD ($)
Number of additional locations \| N					3
Effective tax rate					0%
Deferred tax assets valuation allowance percentage					100%
Cash on hand					$ 7,200,000
Working capital					$ 14,200,000
Common stock, par value (in dollars per share) \| $ / shares					$ 0.001		$ 0.001
Irrevocable standby letter of credit					$ 1,800,000
Reduction in required cash collateral			$ 1,300,000
Cash collateral released	$ 505,000
Gain on extinguishment of debt						$ 1,417,000
PPP Loan [Member]
Loan face value									$ 1,400,000
Gain on extinguishment of debt				$ 1,400,000		$ 1,400,000
Dividend Declared [Member]
Dividend date declared		Jun. 01, 2021
Dividend amount (in dollars per share) \| $ / shares		$ 0.12
Dividend record date		Jun. 22, 2021
Dividend payment date		Jul. 07, 2021
Dividend Paid [Member]
Dividend amount (in dollars per share) \| $ / shares								$ 0.12
Common stock, par value (in dollars per share) \| $ / shares								$ 0.001

The following table provides a

The following table provides a reconciliation of cash and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the unaudited interim consolidated statement of cash flows: (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Cash	$ 7,210	$ 9,924
Restricted cash		1,775
Total cash and restricted cash as shown in the statement of cash flows	$ 7,210	$ 11,699	$ 5,147	$ 7,567

The following table presents ou

The following table presents our revenues disaggregated by revenue discipline: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Revenue	$ 6,251	$ 5,685	$ 17,476	$ 14,813
Product [Member]
Disaggregation of Revenue [Line Items]
Revenue	4,198	3,690	12,032	9,359
Service [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 2,053	$ 1,995	$ 5,444	$ 5,454

REVENUES (Details Narrative)

REVENUES (Details Narrative) - USD ($) $ in Thousands			3 Months Ended		9 Months Ended
REVENUES (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Disaggregation of Revenue [Line Items]
Total revenue			$ 6,251	$ 5,685	$ 17,476	$ 14,813
Contract costs incurred			2,000	227	2,900	3,100
Revenue recognized from deferred revenue			81	225	$ 2,100	$ 284
Customer One [Member] \| Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	40%	32%
Customer One [Member] \| Revenue Benchmark [Member] \| Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage					31%	23%
Customer Two [Member] \| Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	21%	11%
Customer Two [Member] \| Revenue Benchmark [Member] \| Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage					12%	22%
Customer Three [Member] \| Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Disaggregation of Revenue [Line Items]
Concentration Risk, Percentage	13%
Service [Member]
Disaggregation of Revenue [Line Items]
Total revenue			2,053	1,995	$ 5,444	$ 5,454
Transferred at Point in Time [Member]
Disaggregation of Revenue [Line Items]
Total revenue			1,800	3,400	8,700	6,000
Transferred over Time [Member]
Disaggregation of Revenue [Line Items]
Total revenue			$ 2,400	$ 262	$ 3,300	$ 3,400

REVISION OF PRIOR PERIOD FINA_3

REVISION OF PRIOR PERIOD FINANCIAL STATEMENTS (Details Narrative) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenues	$ 6,251	$ 4,863	$ 6,362	$ 5,685	$ 11,225	$ 17,476	$ 14,813
Cost of goods sold	$ 5,390	4,800	5,439	$ 4,972	10,239	$ 15,629	$ 13,445
Revision of Prior Period, Adjustment [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenues		574	326		900
Cost of goods sold		$ 592	$ 278		$ 870

The following tables reconcile

The following tables reconcile the balances as previously reported in the Quarterly Reports on Form 10-Q as of and for the three months ended March 31, 2022 and as of and for the three and six months ended June 30, 2022 to the as revised balances: (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenues	$ 6,251	$ 4,863	$ 6,362	$ 5,685	$ 11,225	$ 17,476	$ 14,813
Cost of goods sold	5,390	4,800	5,439	4,972	10,239	15,629	13,445
Gross profit	861	62	923	713	986	1,847	1,368
Net loss	$ (1,311)	$ (2,536)	$ (740)	$ (434)	$ (3,275)	$ (4,586)	$ (769)
Loss per share - basic	$ (0.13)	$ (0.26)	$ (0.08)	$ (0.05)	$ (0.34)	$ (0.47)	$ (0.09)
Loss per share - diluted	$ (0.13)	$ (0.26)	$ (0.08)	$ (0.05)	$ (0.34)	$ (0.47)	$ (0.09)
Weighted average common shares outstanding - basic	9,770	9,728	9,641	8,726	9,685	9,713	8,726
Weighted average common shares outstanding - diluted	9,770	9,728	9,641	8,726	9,685	9,713	8,726
Total current assets	$ 26,451	$ 30,210	$ 31,884		$ 30,210	$ 26,451		$ 25,135
Total assets	29,445	33,246	34,705		33,246	29,445		27,927
Total current liabilities	12,299	14,796	14,393		14,796	12,299		6,582
Total liabilities	13,603	16,236	15,819		16,236	13,603		8,375
Total stockholders’ equity	15,842	17,010	18,886	$ 12,172	17,010	15,842	$ 12,172	19,552	$ 12,548	$ 13,859
Changes in current operating assets and liabilities:
Inventories			(2,527)		(3,987)	(4,319)	(1,097)
Deferred revenue			4,569		5,966	4,198	1,549
Net cash used in operating activities			2,087		(1,621)	(3,936)	$ (991)
Accumulated deficit	$ (16,898)	(15,587)	(13,052)		(15,587)	$ (16,898)		$ (12,312)
Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenues		4,289	6,036		10,325
Cost of goods sold		4,208	5,161		9,369
Gross profit		81	875		956
Net loss		$ (2,517)	$ (788)		$ (3,305)
Loss per share - basic		$ (0.26)	$ (0.08)		$ (0.34)
Loss per share - diluted		$ (0.26)	$ (0.08)		$ (0.34)
Weighted average common shares outstanding - basic		9,728	9,641		9,685
Weighted average common shares outstanding - diluted		9,728	9,641		9,685
Total current assets		$ 31,080	$ 32,162		$ 31,080
Total assets		34,116	34,983		34,116
Total current liabilities		15,696	14,719		15,696
Total liabilities		17,136	16,145		17,136
Total stockholders’ equity		16,980	18,838		16,980
Changes in current operating assets and liabilities:
Inventories			(2,805)		(4,857)
Deferred revenue			4,895		6,866
Net cash used in operating activities			2,087		(1,621)
Accumulated deficit		(15,617)	(13,100)		(15,617)
Revision of Prior Period, Adjustment [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Revenues		574	326		900
Cost of goods sold		592	278		870
Gross profit		(19)	48		30
Net loss		(19)	48		30
Total current assets		(870)	(278)		(870)
Total assets		(870)	(278)		(870)
Total current liabilities		(900)	(326)		(900)
Total liabilities		(900)	(326)		(900)
Total stockholders’ equity		30	48		30
Changes in current operating assets and liabilities:
Inventories			278		870
Deferred revenue			(326)		(900)
Net cash used in operating activities
Accumulated deficit		$ 30	$ 48		$ 30

OTHER (INCOME) EXPENSE (Details

OTHER (INCOME) EXPENSE (Details Narrative) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Other income	$ 17				$ 1,300
Other expense		$ 13		$ 112
Gain on extinguishment of debt					1,417
PPP Loan [Member]
Gain on extinguishment of debt			$ 1,400		$ 1,400

The components of inventories a

The components of inventories are summarized below: (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 3,119	$ 993
Work in process	5,360	3,167
Total inventories	$ 8,479	$ 4,160

Property and equipment are summ

Property and equipment are summarized below: (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Property and equipment
Property and equipment	$ 2,853	$ 2,464
Less: accumulated depreciation	(2,059)	(1,948)
Total property and equipment, net	794	516
Machinery, Vehicles and Equipment [Member]
Property and equipment
Property and equipment	1,610	1,396
Furniture and Fixtures [Member]
Property and equipment
Property and equipment	208	205
Computer Hardware and Software [Member]
Property and equipment
Property and equipment	567	541
Leasehold Improvements [Member]
Property and equipment
Property and equipment	368	322
Construction in Progress [Member]
Property and equipment
Property and equipment	$ 100

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 40	$ 35	$ 113	$ 110

NOTES RECEIVABLE (Details Narra

NOTES RECEIVABLE (Details Narrative) - Transformer Business Units [Member] - Subordinated Debt [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Jun. 30, 2020	Dec. 31, 2019	Sep. 30, 2022	Aug. 16, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal amount				$ 7,500
Interest rate			4%
Maturity date			Dec. 31, 2022
Cash payment for promissory note		$ 1,800
Change in note receivable	$ 194
Revaluation of note			$ 322
Carrying value			$ 6,100
First Seller Note [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal amount		$ 3,200		5,000
Second Seller Note [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal amount				$ 2,500

The components of accounts paya

The components of accounts payable and accrued liabilities are summarized below: (Details) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accounts payable	$ 3,433	$ 2,089
Accrued liabilities	1,273	1,263
Current portion of lease liabilities	972	807
Total accounts payable and accrued liabilities	$ 5,678	$ 4,159

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued sales commission	$ 148	$ 247
Employee compensation and benefits	307	270
Accrued professional fees	309	111
Accrued sales and use taxes	319	50
Accrued insurance	$ 0	$ 481

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
	Apr. 25, 2022	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Class of Stock [Line Items]
Common stock, outstanding		9,644,545		9,644,545		9,640,545
Common stock, par value (in dollars per share)		$ 0.001		$ 0.001		$ 0.001
Stock-based compensation		$ 143	$ 58	$ 859	$ 129
Stock-based compensation not yet recognized		$ 878		$ 878
Stock-based compensation not yet recognized, weighted average remaining period				1 year 7 months 6 days
Long-Term Incentive Plan [Member]
Class of Stock [Line Items]
Number of shares available for future grants		498,000		498,000
Restricted Stock Units (RSUs) [Member]
Class of Stock [Line Items]
Number of units awarded	375,000
Value of award	$ 1,600
Restricted Stock Units (RSUs) [Member] \| Vesting May 1, 2022 [Member]
Class of Stock [Line Items]
Number of units awarded	125,000
Restricted Stock Units (RSUs) [Member] \| Vesting May 1, 2023 [Member]
Class of Stock [Line Items]
Number of units awarded	125,000
Restricted Stock Units (RSUs) [Member] \| Vesting May 1, 2024 [Member]
Class of Stock [Line Items]
Number of units awarded	125,000

A summary of stock option activ

A summary of stock option activity during the nine months ended September 30, 2022 is as follows: (Details) $ / shares in Units, $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) $ / shares shares
Equity [Abstract]
Outstanding at beginning of period \| shares	647,667
Outstanding at beginning of period \| $ / shares	$ 5.53
Granted \| shares	27,000
Granted \| $ / shares	$ 3.17
Exercised \| shares	(4,000)
Exercised \| $ / shares	$ 4.11
Outstanding at end of period \| shares	670,667
Outstanding at end of period \| $ / shares	$ 5.45
Outstanding at end of period	5 years 10 months 24 days
Outstanding at end of period \| $	$ 58
Exercisable at end of period \| shares	643,667
Exercisable at end of period \| $ / shares	$ 5.54
Exercisable at end of period	5 years 8 months 12 days
Exercisable at end of period \| $	$ 58

A summary of RSU activity durin

A summary of RSU activity during the nine months ended September 30, 2022, is as follows: (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2022 USD ($) shares
Equity [Abstract]
Unvested restricted stock units at beginning of period \| shares
Unvested restricted stock units at beginning of period \| $
Units granted \| shares	375,000
Units granted \| $	$ 1,631
Units vested \| shares	(125,000)
Units vested \| $	$ (544)
Units forfeited \| shares
Units forfeited \| $
Unvested restricted stock units at ending of period \| shares	250,000
Unvested restricted stock units at beginning of period \| $	$ 1,087

The following table sets forth

The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share data): (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Numerator:
Net loss	$ (1,311)	$ (2,536)	$ (740)	$ (434)	$ (3,275)	$ (4,586)	$ (769)
Denominator:
Weighted average basic shares outstanding	9,770	9,728	9,641	8,726	9,685	9,713	8,726
Effect of dilutive securities - equity based compensation plans
Denominator for diluted net loss per common share	9,770	9,728	9,641	8,726	9,685	9,713	8,726
Net loss per common share:
Basic	$ (0.13)	$ (0.26)	$ (0.08)	$ (0.05)	$ (0.34)	$ (0.47)	$ (0.09)
Diluted	$ (0.13)	$ (0.26)	$ (0.08)	$ (0.05)	$ (0.34)	$ (0.47)	$ (0.09)

BASIC AND DILUTED LOSS PER CO_3

BASIC AND DILUTED LOSS PER COMMON SHARE (Details Narrative) - shares shares in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Anti-dilutive shares	671	674

The following tables present in

The following tables present information about segment income (loss): (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Segment Reporting Information [Line Items]
Revenues	$ 6,251	$ 4,863	$ 6,362	$ 5,685	$ 11,225	$ 17,476	$ 14,813
Depreciation and amortization	94			98		290	329
Operating income (loss)	(1,444)			(518)		(4,789)	(2,370)
Operating Segments [Member] \| T & D Solutions [Member]
Segment Reporting Information [Line Items]
Revenues	3,773			2,996		10,039	7,980
Depreciation and amortization	14			15		35	50
Operating income (loss)	171			(100)		(183)	(664)
Operating Segments [Member] \| T & D Solutions [Member] \| Power Systems [Member]
Segment Reporting Information [Line Items]
Revenues	3,773			2,996		10,029	7,980
Operating Segments [Member] \| T & D Solutions [Member] \| Service [Member]
Segment Reporting Information [Line Items]
Revenues						10
Operating Segments [Member] \| Critical Power Segment [Member]
Segment Reporting Information [Line Items]
Revenues	2,478			2,689		7,437	6,833
Depreciation and amortization	73			76		234	257
Operating income (loss)	(765)			160		(1,676)	34
Operating Segments [Member] \| Critical Power Segment [Member] \| Service [Member]
Segment Reporting Information [Line Items]
Revenues	2,053			1,995		5,434	5,454
Operating Segments [Member] \| Critical Power Segment [Member] \| Equipment [Member]
Segment Reporting Information [Line Items]
Revenues	425			694		2,003	1,379
Corporate, Non-Segment [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	7			7		21	22
Operating income (loss)	$ (850)			$ (578)		$ (2,930)	$ (1,740)

Revenues are attributable to co

Revenues are attributable to countries based on the location of the Company's customers: (Details) - USD ($) $ in Thousands	3 Months Ended				6 Months Ended	9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 6,251	$ 4,863	$ 6,362	$ 5,685	$ 11,225	$ 17,476	$ 14,813
UNITED STATES
Revenues from External Customers and Long-Lived Assets [Line Items]
Revenues	$ 6,251			$ 5,685		$ 17,476	$ 14,813

BUSINESS SEGMENT AND GEOGRAPH_3

BUSINESS SEGMENT AND GEOGRAPHIC INFORMATION (Details Narrative)	9 Months Ended
	Sep. 30, 2022 N
Segment Reporting [Abstract]
Number of reportable segments	2

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($) $ in Thousands	9 Months Ended
LEASES (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2022	Dec. 31, 2021
Lessee, Lease, Description [Line Items]
Lease extended term (in years)	5 years
Assets under finance leases	$ 1,200	$ 1,600
Accumulated amortization associated with finance leases	474	1,100
Assets under operating leases	2,500	3,900
Accumulated amortization associated with operating leases	$ 1,200	$ 2,300
Minimum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)	1 year
Maximum [Member]
Lessee, Lease, Description [Line Items]
Remaining lease term (in years)	5 years

The components of the lease exp

The components of the lease expense were as follows: (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Leases
Operating lease cost	$ 188	$ 173	$ 563	$ 456
Finance lease cost
Amortization of right-of-use asset	53	62	177	219
Interest on lease liabilities	10	9	31	30
Total finance lease cost	$ 63	$ 71	$ 208	$ 249

Other information related to le

Other information related to leases was as follows: (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash paid for amounts included in the measurement of lease liabilities
Operating cash flow payments for operating leases	$ 559	$ 449
Operating cash flow payments for finance leases	31	30
Financing cash flow payments for finance leases	178	226
Right-of-use assets obtained in exchange for lease obligations
Operating lease liabilities arising from obtaining right of use assets	$ 551	$ 1,418
Operating Lease, Weighted Average Remaining Lease Term	2 years	3 years
Finance Lease, Weighted Average Remaining Lease Term	3 years	2 years
Operating Lease, Weighted Average Discount Rate, Percent	5.50%	5.50%
Finance Lease, Weighted Average Discount Rate, Percent	6.61%	6.76%

Future minimum lease payments u

Future minimum lease payments under non-cancellable leases as of September 30, 2022 were as follows: (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Leases
Operating Leases, 2022	$ 182
Finance Leases, 2022	74
Operating Leases, 2023	670
Finance Leases, 2023	389
Operating Leases, 2024	508
Finance Leases, 2024	158
Operating Leases, 2025	95
Finance Leases, 2025	174
Operating Leases, thereafter	24
Finance Leases, thereafter	128
Operating Leases, Total future minmum lease payments	1,479
Finance Leases, Total future minmum lease payments	923
Operating Leases, Less imputed interest	(92)
Finance Leases, Less imputed interest	(102)
Operating Leases, Total future minmum lease payments	1,387
Finance Leases, Total future minmum lease payments	$ 821

Reported as of September 30, 20

Reported as of September 30, 2022: (Details) $ in Thousands	Sep. 30, 2022 USD ($)
Operating Lease, Right-of-use assets	$ 1,343
Finance Lease, Right-of-use assets	773
Operating Lease, Liability	1,387
Finance Lease, Liability	821
Accounts Payable and Accrued Liabilities [Member]
Operating Lease, Liability	621
Finance Lease, Liability	351
Other Noncurrent Liabilities [Member]
Operating Lease, Liability	766
Finance Lease, Liability	$ 470