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RESTATEMENT OF PREVIOUSLY ISSUED CONSOLIDATED FINANCIAL STATEMENTS (Tables) | 12 Months Ended
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Dec. 31, 2023
Accounting Changes and Error Corrections [Abstract] |
SCHEDULE OF RESTATEMENT ADJUSTMENTS | SCHEDULE OF RESTATEMENT ADJUSTMENTS The following table presents the effects of the Restatement Adjustments on the Company’s consolidated balance sheet as of December 31, 2022:
|  | Stated |  |  | Adjustments |  |  | Restated |
|  | December 31, 2022 |
|  | As Previously |  |  | Restatement |  |  | As |
|  | Stated |  |  | Adjustments |  |  | Restated |
ASSETS |  |  |  |  |  |  |  |  |
Current assets |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable, net |  | $ | 11,139 |  |  | $ | (1,129 | ) |  | $ | 10,010 |
Inventories, net |  | $ | 8,748 |  |  | $ | (658 | ) |  | $ | 8,090 |
Total current assets |  | $ | 33,036 |  |  | $ | (1,787 | ) |  | $ | 31,249 |
Total assets |  | $ | 37,175 |  |  | $ | (1,787 | ) |  | $ | 35,388 |
LIABILITIES AND STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Current liabilities |  |  |  |  |  |  |  |  |  |  |  |
Deferred revenue |  | $ | 10,665 |  |  | $ | (6 | ) |  | $ | 10,659 |
Total current liabilities |  | $ | 18,962 |  |  | $ | (6 | ) |  | $ | 18,956 |
Total liabilities |  | $ | 20,242 |  |  | $ | (6 | ) |  | $ | 20,236 |
Stockholders’ equity |  |  |  |  |  |  |  |  |  |  |  |
Accumulated deficit |  | $ | (15,950 | ) |  | $ | (1,781 | ) |  | $ | (17,731 | )
Total stockholders’ equity |  | $ | 16,933 |  |  | $ | (1,781 | ) |  | $ | 15,152 |
Total liabilities and stockholders’ equity |  | $ | 37,175 |  |  | $ | (1,787 | ) |  | $ | 35,388 |
The following table presents the effects of the Restatement Adjustments on the Company’s consolidated statement of operations for the year ended December 31, 2022:
|  | Stated |  |  | Adjustments |  |  | Restated |
|  | For the Year Ended |
|  | December 31, 2022 |
|  | As Previously |  |  | Restatement |  |  | As |
|  | Stated |  |  | Adjustments |  |  | Restated |
Revenues |  | $ | 27,000 |  |  | $ | (1,122 | ) |  | $ | 25,878 |
Cost of goods sold |  | $ | 22,393 |  |  | $ | 659 |  |  | $ | 23,052 |
Gross profit |  | $ | 4,607 |  |  | $ | (1,781 | ) |  | $ | 2,826 |
Loss from operations |  | $ | (4,029 | ) |  | $ | (1,781 | ) |  | $ | (5,810 | )
Loss before taxes |  | $ | (3,631 | ) |  | $ | (1,781 | ) |  | $ | (5,412 | )
Net loss |  | $ | (3,638 | ) |  | $ | (1,781 | ) |  | $ | (5,419 | )
Loss per share - basic and diluted |  | $ | (0.37 | ) |  | $ | (0.19 | ) |  | $ | (0.56 | )
The following table presents the effects of the Restatement Adjustments on the Company’s consolidated statement of changes in stockholders’ equity for the year ended December 31, 2022:
|  | As Previously |  |  | Restatement |  |  | As |
|  | Stated |  |  | Adjustments |  |  | Restated |
|  |  | (unaudited) |  |  |  | (unaudited) |  |  |  | (unaudited) |
Balance - January 1, 2022 |  | $ | 19,552 |  |  | $ | - |  |  | $ | 19,552 |
Net loss |  | $ | (3,638 | ) |  | $ | (1,781 | ) |  | $ | (5,419 | )
Balance - December 31, 2022 |  | $ | 16,933 |  |  | $ | (1,781 | ) |  | $ | 15,152 |
The following table presents the effects of the Restatement Adjustments on the Company’s consolidated statement of cash flows for the year ended December 31, 2022:
|  | Stated |  |  | Adjustments |  |  | Restated |
|  | December 31, 2022 |
|  | As Previously |  |  | Restatement |  |  | As |
|  | Stated |  |  | Adjustments |  |  | Restated |
Cash flows from operating activities: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (3,638 | ) |  | $ | (1,781 | ) |  | $ | (5,419 | )
Changes in operating assets and liabilities: |  |  |  |  |  |  |  |  |  |  |  |
Accounts receivable |  | $ | (8,570 | ) |  | $ | 1,129 |  |  | $ | (7,441 | )
Inventories |  | $ | (4,589 | ) |  | $ | 658 |  |  | $ | (3,931 | )
Deferred revenue |  | $ | 8,243 |  |  | $ | (6 | ) |  | $ | 8,237 |
Net cash used in operating activities |  | $ | (5,772 | ) |  | $ | - |  |  | $ | (5,772 | )

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