Taitron Components (TAIT) 10-Q15 May 232023 Q1 Quarterly reportFinancial data

Company Profile

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
Document And Entity Information - shares	Mar. 31, 2023	Apr. 30, 2023
Document Information Line Items
Entity Registrant Name	TAITRON COMPONENTS INCORPORATED
Trading Symbol	TAIT
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Entity Central Index Key	0000942126
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Document Period End Date	Mar. 31, 2023
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q1
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	0-25844
Entity Incorporation, State or Country Code	CA
Entity Tax Identification Number	95-4249240
Entity Address, Address Line One	28040 West Harrison Parkway
Entity Address, City or Town	Valencia
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	91355-4162
City Area Code	661
Local Phone Number	257-6060
Title of 12(b) Security	Class A common stock
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Common Class A [Member]
Document Information Line Items
Entity Common Stock, Shares Outstanding		5,233,568
Common Class B [Member]
Document Information Line Items
Entity Common Stock, Shares Outstanding		762,612

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 4,857,000	$ 5,217,000
Accounts receivable, less allowances of $7,000	1,204,000	683,000
Short-term investments (Note 2)	3,197,000	2,034,000
Inventories, less reserves for obsolescence of $5,115,000, and $5,069,000, respectively (Note 3)	3,170,000	3,900,000
Prepaid expenses and other current assets	226,000	148,000
Total current assets	12,654,000	11,982,000
Property and equipment, net	2,880,000	2,922,000
Deferred taxes	2,052,000	2,047,000
Other assets (Note 5)	186,000	186,000
Total assets	17,772,000	17,137,000
Current liabilities:
Accounts payable	152,000	211,000
Accrued liabilities	1,021,000	790,000
Total current and total liabilities	1,173,000	1,001,000
Commitments and contingencies (Note 12)
Shareholders' equity:
Preferred stock, $0.001 par value. Authorized 5,000,000 shares; None issued or outstanding\	0	0
Additional paid-in capital	11,409,000	11,407,000
Accumulated other comprehensive income	(59,000)	(58,000)
Retained earnings	5,243,000	4,781,000
Total equity	16,599,000	16,136,000
Total liabilities and equity	17,772,000	17,137,000
Common Class A [Member]
Shareholders' equity:
Common stock, value	5,000	5,000
Common Class B [Member]
Shareholders' equity:
Common stock, value	$ 1,000	$ 1,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parentheticals) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Accounts receivable, allowances (in Dollars)	$ 7,000	$ 7,000
Inventories, reserves for obsolescence (in Dollars)	$ 5,115,000	$ 5,069,000
Preferred stock, par value (in Dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000,000	5,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Class A [Member]
Common stock par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	20,000,000	20,000,000
Common Stock, shares issued	5,233,568	5,233,568
Common stock, shares outstanding	5,233,568	5,233,568
Common Class B [Member]
Common stock par value (in Dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	762,612	762,612
Common Stock, shares issued	762,612	762,612
Common stock, shares outstanding	762,612	762,612

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Income Statement [Abstract]
Net product revenue	$ 2,086,000	$ 1,552,000
Cost of products sold	933,000	749,000
Gross profit	1,153,000	803,000
Selling, general and administrative expenses	590,000	557,000
Operating income	563,000	246,000
Interest income, net	19,000	4,000
Other income, net	221,000	(83,000)
Income before income taxes	803,000	167,000
Income tax provision	(41,000)	1,875,000
Net income	762,000	2,042,000
Other comprehensive income:
Foreign currency translation adjustment	(1,000)	(17,000)
Comprehensive income	$ 761,000	$ 2,025,000
Net income per share: Basic (in Dollars per share)	$ 0.13	$ 0.35
Diluted (in Dollars per share)	$ 0.13	$ 0.34
Weighted average shares outstanding: Basic (in Shares)	5,996,180	5,876,180
Diluted (in Shares)	6,034,180	5,957,180
Cash dividends declared per common share (in Dollars per share)	$ 0.05	$ 0.045

Consolidated Statements of Shar

Consolidated Statements of Shareholders' Equity - USD ($)	Common Class A [Member] Common Stock [Member]	Common Class A [Member]	Common Class B [Member] Common Stock [Member]	Common Class B [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Balance at Dec. 31, 2021	$ 5,000		$ 1,000		$ 11,176,000	$ (73,000)	$ 3,276,000	$ 14,385,000
Balance (in Shares) at Dec. 31, 2021	5,113,568		762,612
Consolidated net income							2,042,000	2,042,000
Other comprehensive loss						(17,000)		(17,000)
Amortization of stock based compensation					5,000			5,000
Cash dividends							(264,000)	(264,000)
Balance at Mar. 31, 2022	$ 5,000		$ 1,000		11,181,000	(90,000)	5,054,000	16,151,000
Balance (in Shares) at Mar. 31, 2022	5,113,568		762,612
Balance at Dec. 31, 2022	$ 5,000		$ 1,000		11,407,000	(58,000)	4,781,000	16,136,000
Balance (in Shares) at Dec. 31, 2022	5,233,568	5,233,568	762,612	762,612
Consolidated net income							762,000	762,000
Other comprehensive loss						(1,000)		(1,000)
Amortization of stock based compensation					2,000			2,000
Cash dividends							(300,000)	(300,000)
Balance at Mar. 31, 2023	$ 5,000		$ 1,000		$ 11,409,000	$ (59,000)	$ 5,243,000	$ 16,599,000
Balance (in Shares) at Mar. 31, 2023	5,233,568	5,233,568	762,612	762,612

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Mar. 31, 2023	Mar. 31, 2022
Operating activities:
Net income	$ 762,000	$ 2,042,000
Adjustments to reconcile net income to net cash provided by (used for) operating activities:
Depreciation and amortization	43,000	33,000
Provision for sales returns and doubtful accounts	0	1,000
Stock based compensation	2,000	5,000
Deferred income taxes	(5,000)	(1,922,000)
Changes in values of marketable securities	(163,000)	87,000
Changes in assets and liabilities:
Accounts receivable	(521,000)	166,000
Inventories	730,000	198,000
Prepaid expenses and other current assets	(78,000)	(49,000)
Accounts payable	(59,000)	(1,421,000)
Accrued liabilities	231,000	(21,000)
Other assets and liabilities	0	7,000
Total adjustments	180,000	(2,916,000)
Net cash provided by(used for) operating activities	942,000	(874,000)
Investing activities:
Acquisition of property and equipment	(1,000)	(5,000)
Purchase of marketable securities	(1,000,000)	0
Net cash used for investing activities	(1,001,000)	(5,000)
Financing activities:
Dividend payments	(300,000)	(264,000)
Net cash used for financing activities	(300,000)	(264,000)
Impact of exchange rates on cash	(1,000)	(17,000)
Net decrease in cash and cash equivalents	(360,000)	(1,160,000)
Cash and cash equivalents, beginning of period	5,217,000	5,974,000
Cash and cash equivalents, end of period	4,857,000	4,814,000
Supplemental disclosures of cash flow information:
Cash paid for interest	0	0
Cash paid for income taxes, net	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2023
Accounting Policies [Abstract]
Significant Accounting Policies [Text Block]	1 SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Overview of Business We are primarily a supplier of original designed and manufactured (“ODM”) electronic components (“ODM Components”) with our product offerings ranging from discrete semiconductors through small electronic devices. Our products include value-added engineering and turn-key solutions, focusing on providing contract electronic manufacturers (“CEMs”) and original equipment manufacturers (“OEMs”) with ODM products for their multi-year turn-key projects (“ODM Projects”). We also distribute brand name electronic components with a vast inventory available on hand. We are incorporated in California and were originally formed in 1989. We maintain divisions in Taiwan and China which were established in 1996 and 2005, respectively. Basis of Presentation The unaudited condensed consolidated interim financial statements include the accounts of the Company and all wholly owned divisions. All significant intercompany accounts and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature and considered necessary for a fair presentation of its financial condition and results of operations for the interim periods presented in this Quarterly Report on Form 10-Q have been included. Operating results for the interim periods are not necessarily indicative of financial results for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In preparing these financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the condensed consolidated financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates and assumptions included in the Company’s condensed consolidated financial statements relate to the allowance for sales returns, doubtful accounts, inventory reserves, accrued liabilities and deferred income taxes. Revenue recognition Revenue is recognized at the point at which control of the underlying products are transferred to the customer. Satisfaction of our performance obligations occur upon the transfer of control of products, either from our facilities or directly from suppliers to customers. We consider customer purchase orders to be the contracts with a customer. All revenue is generated from contracts with customers. In determining the transaction price, we evaluate whether the price is subject to refund or adjustment to determine the net consideration to which we expect to receive. Taxes assessed by a governmental authority on revenue-producing transactions are excluded from revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as fulfillment costs and are included in cost of products sold. Based upon the nature of our contracts with customers and our performance obligations within those contracts, we have no contract assets or liabilities as of March 31, 2023 and December 31, 2022. Nature of products We are primarily a supplier of original designed and manufactured (“ODM”) products that include value-added engineering and turn-key solutions. The following is a description of major products lines from which we generate our revenue: ODM Projects ODM Components Distribution Components Disaggregation of revenue In the following table, revenue is disaggregated by primary geographical market, major product line, and timing of revenue recognition. Three Months Ended March 31, 2023 2022 Primary geographical markets: United States $ 2,035,000 $ 1,461,000 Asia 37,000 84,000 Other 14,000 7,000 2,086,000 1,552,000 Major product lines: ODM projects $ 1,465,000 $ 872,000 ODM components 582,000 631,000 Distribution components 39,000 49,000 2,086,000 1,552,000 Timing of revenue recognition: Products transferred at a point in time $ 2,086,000 $ 1,552,000

SHORT-TERM INVESTMENTS

SHORT-TERM INVESTMENTS	3 Months Ended
SHORT-TERM INVESTMENTS	Mar. 31, 2023
Disclosure Text Block Supplement [Abstract]
Investment [Text Block]	2 SHORT-TERM INVESTMENTS Short-term investments, consisting principally of marketable U.S. equity securities, are classified as short-term based on the nature of the securities and their availability for use in current operations. Measurement is based on fair value with gains and losses recognized in other income/(expense), net.

INVENTORY

INVENTORY	3 Months Ended
INVENTORY	Mar. 31, 2023
Inventory Disclosure [Abstract]
Inventory Disclosure [Text Block]	3 INVENTORY Inventory – Inventory, consisting principally of products held for resale, is recorded at the lower of cost (determined using the first in-first out method) and net realizable value. We had inventory balances in the amount of $3,170,000 and $3,900,000 at March 31, 2023 and December 31, 2022, respectively, which is presented net of valuation allowances of $5,115,000 and $5,069,000, respectively. We evaluate inventories to identify excess, high-cost, slow-moving or other factors rendering inventories as unmarketable at normal profit margins. Due to the complexity of managing and maintaining a large inventory of product offerings, estimates are made regarding adjustments to the carrying values of inventories. Based on our assumptions about future demand and market conditions, inventories are carried at the lower of cost and net realizable value. If our assumptions about future demand change, or market conditions are less favorable than those projected, additional write-downs of inventories or valuation allowances may be required. In any case, actual amounts could be different from those estimated.

OTHER ASSETS

OTHER ASSETS	3 Months Ended
OTHER ASSETS	Mar. 31, 2023
Disclosure Text Block Supplement [Abstract]
Other Assets Disclosure [Text Block]	4 OTHER ASSETS Investment in securities - Zowie Technology Other Other Assets Total Balance at December 31, 2022 $ 186,000 $ - $ 186,000 Other changes - - - Balance at March 31, 2023 $ 186,000 $ - $ 186,000 Our $186,000 investment in securities as of March 31, 2023 relates to 317,428 shares of preferred convertible debt of Zowie Technology Corporation (Taipei Hsien, Taiwan), a supplier of electronic component products, with our option after three (3) years to convert into common stock or refundable bearing 7% annual interest rate. Our investment represents approximately 6% of their total outstanding shares, although we do not have significant influence or control. This investment is accounted for under the cost (plus impairment) basis of accounting, however when facts and circumstances indicate that the carrying value of this asset may not be recoverable, we recognize an impairment loss. The impairment loss recognized is the amount by which the carrying amount exceeds the estimated fair value.

SHARE BASED COMPENSATION

SHARE BASED COMPENSATION	3 Months Ended
SHARE BASED COMPENSATION	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement [Text Block]	5 SHARE BASED COMPENSATION Accounting for stock options issued to employees measures the cost of employee services received in exchange for an award of equity instruments based on the grant-date fair value of the award. That cost is recognized over the period during which an employee is required to provide service in exchange for the award. Outstanding options to purchase Class A common stock (“the Options”) vest in three equal annual installments beginning one (1) year from the date of grant and are subject to termination provisions as defined in our 2005 Stock Incentive Plan and 2018 Omnibus Incentive Plan (collectively referred to as “the Plans”). The Options activity during the three months ended March 31, 2023 is as follows: Number of Shares Weighted Average Exercise Price Weighted Average Years Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2022 224,567 $ 3.10 5.8 $ 148,000 Forfeited (1,000 ) Outstanding at March 31, 2023 223,567 $ 3.10 5.7 $ 162,000 Exercisable at March 31, 2023 120,400 $ 2.57 4.4 $ 140,000 At March 31, 2023, the range of individual outstanding weighted average exercise prices was $0.98 to $3.95 and the unamortized compensation expense was approximately $23,000. Stock based compensation recorded in the three months ended March 31, 2023 and March 31, 2022 was $2,000 and $5,000, respectively, and is included in selling, general and administrative expenses on the accompanying Condensed Consolidated Statements of Operations and Comprehensive Income.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies Disclosure [Text Block]	6 COMMITMENTS AND CONTINGENCIES Inventory Purchasing Outstanding commitments to purchase inventory from suppliers aggregated approximately $700,000 as of March 31, 2023.

Accounting Policies, by Policy

Accounting Policies, by Policy (Policies)	3 Months Ended
Accounting Policies, by Policy (Policies)	Mar. 31, 2023
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Basis of Presentation The unaudited condensed consolidated interim financial statements include the accounts of the Company and all wholly owned divisions. All significant intercompany accounts and transactions have been eliminated in consolidation. These unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments of a normal recurring nature and considered necessary for a fair presentation of its financial condition and results of operations for the interim periods presented in this Quarterly Report on Form 10-Q have been included. Operating results for the interim periods are not necessarily indicative of financial results for the full year. These unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. In preparing these financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities as of the date of the condensed consolidated financial statements and the reported amount of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Significant estimates and assumptions included in the Company’s condensed consolidated financial statements relate to the allowance for sales returns, doubtful accounts, inventory reserves, accrued liabilities and deferred income taxes.
Revenue from Contract with Customer [Policy Text Block]	Revenue recognition Revenue is recognized at the point at which control of the underlying products are transferred to the customer. Satisfaction of our performance obligations occur upon the transfer of control of products, either from our facilities or directly from suppliers to customers. We consider customer purchase orders to be the contracts with a customer. All revenue is generated from contracts with customers. In determining the transaction price, we evaluate whether the price is subject to refund or adjustment to determine the net consideration to which we expect to receive. Taxes assessed by a governmental authority on revenue-producing transactions are excluded from revenue. Shipping and handling costs associated with outbound freight after control over a product has transferred to a customer are accounted for as fulfillment costs and are included in cost of products sold. Based upon the nature of our contracts with customers and our performance obligations within those contracts, we have no contract assets or liabilities as of March 31, 2023 and December 31, 2022.
Revenue [Policy Text Block]	Nature of products We are primarily a supplier of original designed and manufactured (“ODM”) products that include value-added engineering and turn-key solutions. The following is a description of major products lines from which we generate our revenue: ODM Projects ODM Components Distribution Components Disaggregation of revenue In the following table, revenue is disaggregated by primary geographical market, major product line, and timing of revenue recognition. Three Months Ended March 31, 2023 2022 Primary geographical markets: United States $ 2,035,000 $ 1,461,000 Asia 37,000 84,000 Other 14,000 7,000 2,086,000 1,552,000 Major product lines: ODM projects $ 1,465,000 $ 872,000 ODM components 582,000 631,000 Distribution components 39,000 49,000 2,086,000 1,552,000 Timing of revenue recognition: Products transferred at a point in time $ 2,086,000 $ 1,552,000

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	Mar. 31, 2023
Accounting Policies [Abstract]
Disaggregation of Revenue [Table Text Block]	In the following table, revenue is disaggregated by primary geographical market, major product line, and timing of revenue recognition. Three Months Ended March 31, 2023 2022 Primary geographical markets: United States $ 2,035,000 $ 1,461,000 Asia 37,000 84,000 Other 14,000 7,000 2,086,000 1,552,000 Major product lines: ODM projects $ 1,465,000 $ 872,000 ODM components 582,000 631,000 Distribution components 39,000 49,000 2,086,000 1,552,000 Timing of revenue recognition: Products transferred at a point in time $ 2,086,000 $ 1,552,000

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	3 Months Ended
OTHER ASSETS (Tables)	Mar. 31, 2023
Disclosure Text Block Supplement [Abstract]
Schedule of Other Assets [Table Text Block]	Investment in securities - Zowie Technology Other Other Assets Total Balance at December 31, 2022 $ 186,000 $ - $ 186,000 Other changes - - - Balance at March 31, 2023 $ 186,000 $ - $ 186,000

SHARE BASED COMPENSATION (Table

SHARE BASED COMPENSATION (Tables)	3 Months Ended
SHARE BASED COMPENSATION (Tables)	Mar. 31, 2023
Share-Based Payment Arrangement [Abstract]
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	The Options activity during the three months ended March 31, 2023 is as follows: Number of Shares Weighted Average Exercise Price Weighted Average Years Remaining Contractual Term Aggregate Intrinsic Value Outstanding at December 31, 2022 224,567 $ 3.10 5.8 $ 148,000 Forfeited (1,000 ) Outstanding at March 31, 2023 223,567 $ 3.10 5.7 $ 162,000 Exercisable at March 31, 2023 120,400 $ 2.57 4.4 $ 140,000

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - Disaggregation of Revenue - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 2,086,000	$ 1,552,000
Products Transferred at a Point in Time [Member]
Disaggregation of Revenue [Line Items]
Revenue	2,086,000	1,552,000
ODM Projects [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,465,000	872,000
ODM Components [Member]
Disaggregation of Revenue [Line Items]
Revenue	582,000	631,000
Distribution Components [Member]
Disaggregation of Revenue [Line Items]
Revenue	39,000	49,000
UNITED STATES
Disaggregation of Revenue [Line Items]
Revenue	2,035,000	1,461,000
Asia [Member]
Disaggregation of Revenue [Line Items]
Revenue	37,000	84,000
Other [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 14,000	$ 7,000

INVENTORY (Details)

INVENTORY (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Inventory Disclosure [Abstract]
Inventory, Net	$ 3,170,000	$ 3,900,000
Inventory Valuation Reserves	$ 5,115,000	$ 5,069,000

OTHER ASSETS (Details)

OTHER ASSETS (Details) - Zowie Technology [Member]	Mar. 31, 2023 USD ($) shares
OTHER ASSETS (Details) [Line Items]
Equity Method Investments \| $	$ 186,000
Investment Owned, Balance, Shares \| shares	317,428
Equity Method Investment, Ownership Percentage	6%

OTHER ASSETS (Details) - Schedu

OTHER ASSETS (Details) - Schedule of Other Assets	3 Months Ended
OTHER ASSETS (Details) - Schedule of Other Assets	Mar. 31, 2023 USD ($)
OTHER ASSETS (Details) - Schedule of Other Assets [Line Items]
Investments Balance	$ 186,000
Other changes	0
Investments Balance	186,000
Zowie Technology [Member]
OTHER ASSETS (Details) - Schedule of Other Assets [Line Items]
Investments Balance	186,000
Other changes	0
Investments Balance	186,000
Other Investments [Member]
OTHER ASSETS (Details) - Schedule of Other Assets [Line Items]
Investments Balance	0
Other changes	0
Investments Balance	$ 0

SHARE BASED COMPENSATION (Detai

SHARE BASED COMPENSATION (Details) - USD ($)	3 Months Ended
SHARE BASED COMPENSATION (Details) - USD ($)	Mar. 31, 2023	Mar. 31, 2022
SHARE BASED COMPENSATION (Details) [Line Items]
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 23,000
Share-Based Payment Arrangement, Expense	$ 2,000	$ 5,000
2018 Stock Incentive Plan [Member]
SHARE BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Terms of Award	vest in three equal annual installments beginning one (1) year from the date of grant and are subject to termination provisions as defined in our 2005 Stock Incentive Plan and 2018 Omnibus Incentive Plan (collectively referred to as “the Plans”)
Minimum [Member]
SHARE BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in Dollars per share)	$ 0.98
Maximum [Member]
SHARE BASED COMPENSATION (Details) [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Vested and Expected to Vest, Outstanding, Weighted Average Exercise Price (in Dollars per share)	$ 3.95

SHARE BASED COMPENSATION (Det_2

SHARE BASED COMPENSATION (Details) - Schedule of Share-based Compensation, Stock Options, Activity - USD ($)		3 Months Ended
	Dec. 31, 2022	Mar. 31, 2023
Schedule Of Share Based Compensation Stock Options Activity Abstract
Options Outstanding, Number of Shares	224,567
Options Outstanding, Weighted Average Exercise Price (in Dollars per share)	$ 3.1
Options Outstanding, Weighted Average Remaining Contractual Term (Years)	5 years 9 months 18 days	5 years 8 months 12 days
Options Outstanding, Aggregate Intrinsic Value (in Dollars)	$ 148,000
Options Exercisable, Number of Shares		120,400
Options Exercisable, Weighted Average Exercise Price (in Dollars per share)		$ 2.57
Options Exercisable, Weighted Average Years Remaining Contractual Term		4 years 4 months 24 days
Options Exercisable, Aggregate Intrinsic Value (in Dollars)		$ 140,000
Options Forfeited, Number of Shares		(1,000)
Options Outstanding, Number of Shares		223,567
Options Outstanding, Weighted Average Exercise Price (in Dollars per share)		$ 3.1
Options Outstanding, Aggregate Intrinsic Value (in Dollars)		$ 162,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Mar. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Purchase Commitment, Remaining Minimum Amount Committed	$ 700,000