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ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2020

Business Combinations [Abstract]

Schedule of components of the purchase price for acquisitions

Upon initial measurement, components of the purchase price are as follows:

		Relec
Accounts receivable		$	632,910
Prepaid and other current assets			53,127
Inventories, net			993,968
Property and equipment			94,167
Customer relationships			900,000
Trade name			500,000
Accounts payable and accrued expenses			(556,982	)
Net assets acquired			2,617,190
Goodwill			1,147,894
Purchase price		$	3,765,084

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Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

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