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ACQUISITION (Tables) | 9 Months Ended
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Sep. 30, 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 at the date of issuance: SCHEDULE OF WARRANTS VALUATION ASSUMPTIONS
Expected volatility |  |  | 50 | %
Expected term (in years) |  |  | 10 |
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 assets |  |  | 270 |
Inventory |  |  | 96 |
Fixed assets |  |  | 372 |
Total assets acquired |  |  | 9,810 |
Liabilities assumed: |  |  |  |
Accounts payable and accrued expenses |  |  | 946 |
Total liabilities assumed |  |  | 946 |
Total identifiable net assets acquired |  |  | 8,864 |
Gain on bargain purchase |  |  | (7,517 | )
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- and nine-month periods ended September 30, 2022: SCHEDULE OF PRO FORMA REVENUE AND EARNINGS
|  | Three Months Ended September 30, 2022 |  |  | Nine Months Ended September 30, 2022 |
|  | Historical |  |  | Pro forma combined |  |  | Historical |  |  | Pro forma combined |
Revenues |  | $ | 34,288 |  |  | $ | 36,336 |  |  | $ | 102,043 |  |  | $ | 107,580 |
Operating loss |  | $ | (1,218 | ) |  | $ | (994 | ) |  | $ | (6,548 | ) |  | $ | (6,027 | )
Net loss per share - basic and diluted |  | $ | (0.10 | ) |  | $ | (0.09 | ) |  | $ | (0.25 | ) |  | $ | (0.24 | )
Net loss per share - basic |  | $ | (0.10 | ) |  | $ | (0.09 | ) |  | $ | (0.25 | ) |  | $ | (0.24 | )
The following table represents the combined pro forma revenue and earnings for the three- and nine-month periods ended September 30, 2023:
|  | Three Months Ended September 30, 2023 |  |  | Nine Months Ended September 30, 2023 |
|  | Historical |  |  | Pro forma combined |  |  | Historical |  |  | Pro forma combined |
Revenues |  | $ | 34,195 |  |  | $ | 34,195 |  |  | $ | 99,084 |  |  | $ | 101,604 |
Operating loss |  | $ | (3,257 | ) |  | $ | (3,257 | ) |  | $ | (8,281 | ) |  | $ | (7,765 | )
Net loss per share – basic and diluted |  | $ | (0.14 | ) |  | $ | (0.14 | ) |  | $ | (0.16 | ) |  | $ | (0.14 | )
Net loss per share – basic |  | $ | (0.14 | ) |  | $ | (0.14 | ) |  | $ | (0.16 | ) |  | $ | (0.14 | )

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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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