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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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Schedule of warrants valuation assumptions [Table Text Block]

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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

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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

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