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Revision of Previously Issued Consolidated Financial Statement (Tables)

12 Months Ended

Dec. 31, 2022

	Year Ended December 31,						Year Ended December 31,
	2021 As Reported			Adjustment			2021 As Revised
U.S. statutory income tax rate		21.0	%		0.0	%		21.0	%
State taxes, net of federal benefit		5.1	%		(1.0	)%		4.1	%
Permanent difference, overaccruals, and non-deductible items		(40.4	)%		46.7	%		6.3	%
Change in state rate		0.0	%		8.3	%		8.3	%
Deferred tax valuation allowance		14.3	%		(53.0	)%		(38.7	)%
Other		0.0	%		(1.0	)%		(1.0	)%
Total		0.0	%		0.0	%		0.0	%

	December 31,						December 31,
	2021 As Reported			Adjustment			2021 As Revised
Deferred tax assets:
Net operating loss	$	6,737,000		$	(1,778,000	)	$	4,959,000
Allowance for doubtful accounts		155,000			(6,000	)		149,000
Inventory - IRC 263A adjustment		394,000			(17,000	)		377,000
Stock based compensation - options and restricted stock		393,000			(210,000	)		183,000
Capitalized engineering costs		449,000			(19,000	)		430,000
Amortization - NTW Transaction		442,000			3,000			445,000
Inventory reserve		824,000			(34,000	)		790,000
Deferred gain on sale of real estate		47,000			(2,000	)		45,000
Accrued expenses		204,000			(186,000	)		18,000
Disallowed interest		1,286,000			290,000			1,576,000
Operating lease liability		235,000			749,000			984,000
Capital loss carryforward		88,000			(88,000	)		-
Total non-current deferred tax asset before valuation allowance		11,254,000			(1,298,000	)		9,956,000
Valuation allowance		(9,628,000	)		2,125,000			(7,503,000	)
Total non-current deferred tax asset after valuation allowance		1,626,000			827,000			2,453,000

Deferred tax liabilities:
Property and equipment		(1,626,000	)		(71,000	)		(1,697,000	)
Operating lease ROU assets		-			(756,000	)		(756,000	)
Total deferred tax liabilities		(1,626,000	)		(827,000	)		(2,453,000	)

Net deferred tax asset	$	-		$	-		$	-

	December 31,						December 31,
	2020 As Reported			Adjustment			2020 As Revised
Deferred tax assets:
Net operating loss	$	6,594,000		$	(1,422,000	)	$	5,172,000
Allowance for doubtful accounts		252,000			(3,000	)		249,000
Inventory - IRC 263A adjustment		341,000			(3,000	)		338,000
Stock based compensation - options and restricted stock		277,000			(73,000	)		204,000
Capitalized engineering costs		336,000			228,000			564,000
Deferred Rent		4,000			-			4,000
Amortization - NTW Transaction		495,000			(73,000	)		422,000
Inventory reserve		1,250,000			(579,000	)		671,000
Deferred gain on sale of real estate		132,000			(1,000	)		131,000
Accrued expenses		158,000			(158,000	)		-
Disallowed interest		1,813,000			(18,000	)		1,795,000
Operating lease liability		292,000			905,000			1,197,000
Total non-current deferred tax asset before valuation allowance		11,944,000			(1,197,000	)		10,747,000
Valuation allowance		(9,394,000	)		1,262,000			(8,132,000	)
Total non-current deferred tax asset after valuation allowance		2,550,000			65,000			2,615,000

Deferred tax liabilities:
Property and equipment		(2,150,000	)		443,000			(1,707,000	)
Operating lease ROU assets		-			(908,000	)		(908,000	)
Other		(400,000	)		400,000			-
Total deferred tax liabilities		(2,550,000	)		(65,000	)		(2,615,000	)

Net deferred tax asset	$	-		$	-		$	-