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BUSINESS COMBINATION (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2024

Dec. 31, 2023

Summary of Assets Acquired and Liabilities Assumed in Connection with Acquisition

The assets acquired and liabilities assumed in connection with the CTG Acquisition were recorded at their fair values on the CTG Acquisition Date as follows (in thousands):


Assets
Cash	$	2,674
Accounts receivable, net		3,781
Inventories, net		4,282
Prepaid expenses and other current assets		189
Property, plant and equipment , net		1,647
Operating lease ROU asset		315
Intangible assets, net		8,065
Goodwill		2,618

Total assets acquired	$	23,571

Liabilities
Accounts payable		2,656
Accrued expenses and other current liabilities		(295	)
Current portion of operating lease liabilities		95
Operating lease liabilities, less current portion		180

Total liabilities assumed	$	2,636

Total consideration transferred	$	20,935

Summary of Identified Intangible Assets, Estimated Useful Lives and Methodologies Used to Determine Fair Values

The following table sets forth the amounts allocated to the identified intangible assets, the estimated useful lives of those intangible assets as of the CTG Acquisition Date, and the methodologies used to determine the fair values of those intangible assets ($ in thousands):


	Fair value		Useful life (in years)		Fair value methodology
Intangible assets
Trade names	$	819		15	Relief from royalty method
Developed Technology		3,269		20	Relief from royalty method
Customer relationships		3,977		20	Multi-period excess earnings method of the income approach

Total intangible assets	$	8,065

Summary of Unaudited Supplemental Pro Forma Financial Information

The unaudited supplemental pro forma financial results below for the three months ended March 31, 2024 and 2023, combine the consolidated results of the Company and CTG, giving effect to the CTG Acquisition as if it had been completed on January 1, 2023. This unaudited supplemental pro forma financial information is presented for informational purposes only and is not indicative of future operations or results had the acquisition been completed as of January 1, 2023, or any other date.


	Three months ended March 31,
(in thousands)	2024		2023
Pro forma revenue	$	40,333	$	45,308
Pro forma net income	$	2,420	$	6,287

Summary of Common Stock Outstanding Immediately after Merger

The following table presents the total DTIC Common Stock outstanding immediately after the closing of the Merger:


Exchange of ROC common stock not subject to possible redemption for DTIC Common Stock upon Merger			3,403,500
Conversion of ROC Public Rights into shares of DTIC Common Stock			2,070,000
Conversion of ROC Private Rights into shares of DTIC Common Stock			79,600
Exchange of ROC common stock subject to possible redemption that was not redeemed for DTIC Common Stock			158,621

Subtotal - Merger, net of redemptions			5,711,721

Issuance of DTIC Common Stock in connection with PIPE Financing			2,970,296

Exchange of DTIH common stock outstanding as of December 31, 2022 for DTIC Common Stock			11,951,137

Exchange of DTIH redeemable convertible preferred stock outstanding as of December 31, 2022 for DTIC Common Stock			6,719,641

Issuance of shares as stock-based compensation to former DTIH stockholders as part of transaction services agreement upon the Merger			337,429

Issuance of DTIC Common Stock to former holders of DTIH redeemable convertible preferred stock in connection with Exchange Agreements			2,042,181

Net exercise of stock options by DTIH stockholder			36,163

Total - DTIC Common Stock outstanding as a result of Merger, PIPE Financing, DTIH for DTIC share exchanges, transaction services agreement, Exchange Agreements, and exercise of stock options			29,768,568