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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 3 Months Ended
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Mar. 31, 2024
Accounting Policies [Abstract] |
Schedule of Breakdown of Product Net Sales | The following table provides a disaggregation of product net sales for the periods presented (in thousands):
| Three months ended March 31, |  |  |
| 2024 |  | 2023 |  |  |  |  |
Net sales: |  |  |  |  |  |  |  |
Commercial | $ | 299 |  |  | $ | 321 |  |  |  |  |  |
MMM products | 534 |  |  | 609 |  |  |  |  |  |
Total net sales | $ | 833 |  |  | $ | 930 |  |  |  |  |  |
Schedule of Accounts Receivable, Allowance for Credit Loss | Below is the breakout of the Company’s contract assets for such periods:
| March 31, 2024 |  | December 31, 2023 |  | January 01, 2023
Gross Accounts Receivable | $ | 405 |  |  | $ | 1,590 |  |  | $ | 471 |
Less: Reserve for Credit Losses | (9) |  |  | (20) |  |  | (28) |
Net Accounts Receivable | $ | 396 |  |  | $ | 1,570 |  |  | $ | 443 |
Activity related to our reserve for credit losses for the three months ended March 31, 2024 was as follows (in thousands):
Allowance for credit loss as of December 31, 2023 | $ | (20) |  |
Reduction of reserve for credit losses as of March 31, 2024 | 11 |  |
Allowance for credit loss as of March 31, 2024 | $ | (9) |  |
Activity related to our reserve for credit losses for the three months ended March 31, 2023 was as follows (in thousands):
Allowance for credit loss as of December 31, 2022 | $ | (26) |  |
Cumulative effect of the implementation of ASC 326 | (2) |  |
Allowance for credit loss as of January 1, 2023 | (28) |  |
Reserve for credit losses as of March 31, 2023 | (12) |  |
Prior year reclassification of sales returns out of allowance for doubtful accounts | (18) |  |
Allowance for credit loss as of March 31, 2023 | $ | (58) |  |
Reconciliation of Basic and Diluted Income (Loss) Per Share | The following table presents a reconciliation of basic and diluted loss per share computations (in thousands):
| Three months ended March 31, |  |
| 2024 |  | 2023 |  |  |  |
Numerator: |  |  |  |  |  |  |
Net loss | $ | (418) |  |  | $ | (1,333) |  |  |  |  |
Denominator: |  |  |  |  |  |  |
Basic and diluted weighted average shares of common stock outstanding | 4,433 |  |  | 2,310 |  |  |  |  |
Schedule of Warranty Activity | The following table summarizes warranty activity for the periods presented (in thousands):
|  |  | Three months ended March 31,
|  |  |  |  | 2024 |  | 2023
Balance at beginning of period |  |  |  |  | $ | 150 |  |  | $ | 183 |
Warranty accruals for current period sales |  |  |  |  | 1 |  |  | (1) |
Adjustments to existing warranties |  |  |  |  | (35) |  |  | (39) |
Accrued warranty reserve at end of period |  |  |  |  | $ | 116 |  |  | $ | 143 |

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- Definition Tabular disclosure of the changes in the guarantor's aggregate product warranty liability, including the beginning balance of the aggregate product warranty liability, the aggregate reductions in that liability for payments made (in cash or in kind) under the warranty, the aggregate changes in the liability for accruals related to product warranties issued during the reporting period, the aggregate changes in the liability for accruals related to preexisting warranties (including adjustments related to changes in estimates), and the ending balance of the aggregate product warranty liability. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 460 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482425/460-10-50-8 + Details
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