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BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 30, 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 September 30, |  |  | Nine months ended September 30,
| 2024 |  | 2023 |  |  | 2024 |  | 2023
Net sales: |  |  |  |  |  |  |  |
Commercial | $ | 350 |  |  | $ | 498 |  |  |  | $ | 1,004 |  |  | $ | 1,261 |
MMM products | 846 |  |  | 841 |  |  |  | 2,578 |  |  | 2,063 |
Total net sales | $ | 1,196 |  |  | $ | 1,339 |  |  |  | $ | 3,582 |  |  | $ | 3,324 |
Schedule of Accounts Receivable, Allowance for Credit Loss | Below is the breakout of the Company’s contract assets for such periods:
| September 30, 2024 |  | December 31, 2023 |  | January 01, 2023
Gross Accounts Receivable | $ | 757 |  |  | $ | 1,590 |  |  | $ | 471 |
Less: Allowance for Credit Loss | (12) |  |  | (20) |  |  | (28) |
Net Accounts Receivable | $ | 745 |  |  | $ | 1,570 |  |  | $ | 443 |
Activity related to our reserve for credit losses for the three and nine months ended September 30, 2024 and 2023 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) |  |
Reduction of reserve for credit losses as of June, 30 2024 | — |  |
Allowance for credit loss as of June 30, 2024 | $ | (9) |  |
Increase in reserve for credit losses as of September, 30 2024 | (3) |  |
Allowance for credit loss as of September 30, 2024 | $ | (12) |  |
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) |  |
Reserve for credit losses as of June 30, 2023 | (3) |  |
Prior year reclassification of sales returns out of allowance for doubtful accounts | (18) |  |
Allowance for credit loss as of June 30, 2023 | $ | (79) |  |
Reserve for credit losses as of September 30, 2023 | 14 |  |
Prior year reclassification of sales returns out of allowance for doubtful accounts | (11) |  |
Allowance for credit loss as of September 30, 2023 | $ | (76) |  |
Schedule 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 September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Numerator: |  |  |  |  |  |  |
Net loss | $ | (316) |  |  | $ | (944) |  |  | $ | (1,288) |  |  | $ | (3,444) |
Denominator: |  |  |  |  |  |  |
Basic and diluted weighted average shares of common stock outstanding | 5,261 |  |  | 3,514 |  |  | 4,840 |  |  | 2,868 |
Schedule of Warranty Activity | The following table summarizes warranty activity for the periods presented (in thousands):
| Three months ended September 30, |  | Nine months ended September 30,
| 2024 |  | 2023 |  | 2024 |  | 2023
Balance at beginning of period | $ | 117 |  |  | $ | 146 |  |  | $ | 150 |  |  | $ | 183 |
Warranty accruals for current period sales | 1 |  |  | 1 |  |  | 3 |  |  | 3 |
Adjustments to existing warranty reserves | — |  |  | — |  |  | (35) |  |  | (39) |
Accrued warranty reserve at end of period | $ | 118 |  |  | $ | 147 |  |  | $ | 118 |  |  | $ | 147 |

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