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ACQUISITION (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
Business Combination and Asset Acquisition [Abstract] |
SCHEDULE OF WARRANTS VALUATION ASSUMPTIONS | The warrant was valued using the Black-Scholes Model using the following assumptions: SCHEDULE OF WARRANTS VALUATION ASSUMPTIONS
|  | March 31, |
|  | 2023 |
Expected volatility |  |  | 50.0 | %
Expected term (in years) |  |  | 10.0 |
Risk free interest rate |  |  | 3.50 | %
Dividend yield |  |  | 0 | %
Fair value per share |  | $ | 1.68 |
Warrants measurement input |  | $ | 1.68 |
SCHEDULE OF PURCHASE PRICE ALLOCATION IN ASSETS ACQUIRED AND LIABILITIES | The following table details the provisional allocation of the purchase price to the assets acquired and liabilities assumed in connection with the acquisition of Movingdots: SCHEDULE OF PURCHASE PRICE ALLOCATION IN ASSETS ACQUIRED AND LIABILITIES
Consideration: |  |  |  |
Cash |  | $ | — |
Fair value of Powerfleet warrants on March 31, 2023 |  |  | 1,347 |
Total consideration |  | $ | 1,347 |
Assets acquired: |  |  |  |
Cash |  | $ | 8,722 |
Accounts receivable |  |  | 247 |
Prepaid expenses |  |  | 103 |
Other current assets |  |  | 243 |
Inventory |  |  | 96 |
Fixed assets |  |  | 372 |
Total assets acquired |  |  | 9,783 |
Liabilities assumed: |  |  |  |
Trade payable |  |  | 176 |
Deferred credits |  |  | 13 |
Provisions and other liabilities |  |  | 1,013 |
Total liabilities assumed |  |  | 1,202 |
Total identifiable net assets acquired |  |  | 8,581 |
Gain on bargain purchase |  |  | (7,234 | )
Purchase price consideration |  | $ | 1,347 |
SCHEDULE OF PRO FORMA REVENUE AND EARNINGS | The following table represents the combined pro forma revenue and earnings for the three-month period ended March 31, 2022: SCHEDULE OF PRO FORMA REVENUE AND EARNINGS
|  | Three Months Ended March 31, 2022 |
|  | Historical |  |  | Pro forma combined |
Revenues |  | $ | 33,161 |  |  | $ | 35,002 |
Operating loss |  | $ | (3,742 | ) |  | $ | (3,417 | )
Net loss per share – basic and diluted |  | $ | (0.12 | ) |  | $ | (0.11 | )
The following table represents the combined pro forma revenue and earnings for the three-month period ended March 31, 2023:
|  | Three Months Ended March 31, 2023 |
|  | Historical |  |  | Pro forma combined |
Revenues |  | $ | 32,839 |  |  | $ | 35,587 |
Operating loss |  | $ | (1,892 | ) |  | $ | (1,417 | )
Net income (loss) per share – basic |  | $ | 0.11 |  |  | $ | (0.09 | )
Net income (loss) per share - diluted |  | $ | 0.11 |  |  | $ | (0.09 | )

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- Definition Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(2) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (h)(3) -SubTopic 10 -Topic 805 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479328/805-10-50-2 + Details
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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Paragraph 1 -Section 50 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479907/805-20-50-1 + Details
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