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Nature of Operations | 12 Months Ended
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Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Nature of Operations | NOTE 1—NATURE OF OPERATIONS (a) Description of Business Acorn Energy, Inc. and its subsidiaries, OMX Holdings, Inc. and OmniMetrix, LLC (collectively, “Acorn” or “the Company”) is a Delaware corporation which is holding company focused on technology-driven solutions for energy infrastructure asset management. The Company provides the following services and products through its OmniMetrix, LLC (“OmniMetrix”) subsidiary:
| ● | Power Generation (“PG”) monitoring. OmniMetrix’s PG activities provide wireless remote monitoring and control systems and services for critical assets as well as Internet of Things applications. This includes our AIRGuard product, which remotely monitor and controls air compressors. In 2020, the Company expanded its product offering to its generator dealers with the introduction of an Annunciator. The annunciator is typically sold with a new commercial or industrial generator and indicates the current status of that generator. In many instances having a generator annunciator onsite is mandated by law.
| ● | Cathodic Protection (“CP”) monitoring. OmniMetrix’s CP activities provide for remote monitoring of cathodic protection systems on gas pipelines for gas utilities and pipeline companies.
Acorn’s shares are traded on the OTCQB marketplace under the symbol ACFN. See Notes 12 and 13 for segment information and major customers. (b) Liquidity As of December 31, 2020, the Company had approximately $2,063,000 of corporate cash and cash equivalents. At December 31, 2020, we had a negative working capital of approximately $95,000. Our working capital included approximately $2,063,000 of cash and deferred revenue of approximately $3,214,000. Such deferred revenue does not require significant cash outlay for the revenue to be recognized. Net cash increased during the year ended December 31, 2020 by approximately $816,000, of which approximately $464,000 was provided by operating activities, approximately $101,000 was used in investing activities, and approximately $453,000 was provided by financing activities, of which approximately $421,000 was net proceeds from the SBA PPP loan. The Company’s operations may be affected by the ongoing outbreak of the coronavirus disease 2019 (COVID-19) which was declared a pandemic by the World Health Organization in March 2020. The ultimate disruption which may be caused by the outbreak is uncertain; however, it may result in a material adverse impact on the Company’s financial position, operations and cash flows. Possible effects may include, but are not limited to, disruption to the Company’s customers and revenue, absenteeism in the Company’s labor workforce, unavailability of products and supplies used in operations, and a decline in value of assets held by the Company, including inventories, property and equipment, and marketable securities. As of March 11, 2021, the Company had corporate cash of approximately $1,812,000. Such cash plus the cash generated from operations, will provide sufficient liquidity to finance the operating activities of Acorn and OmniMetrix at their current level of operations for the foreseeable future and for the twelve months from the issuance of these consolidated financial statements in particular.

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- Definition The entire disclosure for the nature of an entity's business, major products or services, principal markets including location, and the relative importance of its operations in each business and the basis for the determination, including but not limited to, assets, revenues, or earnings. For an entity that has not commenced principal operations, disclosures about the risks and uncertainties related to the activities in which the entity is currently engaged and an understanding of what those activities are being directed toward. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=99393423&loc=d3e5967-108592 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -URI http://asc.fasb.org/topic&trid=2134479 + Details
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