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DIVIDEND PAYABLE IN TURNONGREEN COMMON STOCK | 6 Months Ended
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Jun. 30, 2023
Dividend Payable In Turnongreen Common Stock |
DIVIDEND PAYABLE IN TURNONGREEN COMMON STOCK | 15. DIVIDEND PAYABLE IN TURNONGREEN COMMON STOCK On June 26, 2023, the Company established a record date for its initial distribution of TurnOnGreen securities. Stockholders as of this date were entitled to 40 shares of TurnOnGreen common stock, along with warrants to purchase 40 shares of TurnOnGreen common stock (the “TurnOnGreen Securities”) for every share of the Company's common stock they held on the record date. The initial distribution was finalized in July 2023. The Company recorded a dividend payable, which was directly offset against equity based on the recorded value of the TurnOnGreen Securities of $5.2 million.

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