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Summary of Significant Accounting Policies (Tables) | 9 Months Ended
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Sep. 30, 2023
Summary of Significant Accounting Policies [Abstract] |
Schedule of Activity for the Allowance for Credit Losses | The activity for the allowance for credit losses during the nine months ended September 30, 2023 and 2022 is set forth in the table below
|  | September 30, |
|  | 2023 |  |  | 2022 |
Balance, January 1, |  | $ | 281,000 |  |  | $ | 594,000 |
Provision (Reversal) |  |  | 67,000 |  |  |  | (99,000 | )
Write-offs |  |  | — |  |  |  | — |
Balance, September 30 |  | $ | 348,000 |  |  | $ | 493,000 |
Schedule of Inventories | Inventories consist of the following at:
|  | September 30, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Raw Materials |  | $ | 4,836,000 |  |  | $ | 4,198,000 |
Work In Progress |  |  | 16,337,000 |  |  |  | 20,488,000 |
Finished Goods |  |  | 13,415,000 |  |  |  | 10,748,000 |
Reserve |  |  | (3,240,000 | ) |  |  | (3,613,000 | )
Total Inventory |  | $ | 31,348,000 |  |  | $ | 31,821,000 |
Schedule of Activity for the Allowance for Credit Losses | There were three customers that represented 60.8% and two customers that represented 63.9% of total net sales for the three months ended September 30, 2023 and 2022, respectively. This is set forth in the table below.
|  | Percentage of Sales |
|  | September 30, |  |  | September 30, |
Customer |  | 2023 |  |  | 2022 |
1 |  |  | 31.9 | % |  |  | ** |
2 |  |  | 18.0 | % |  |  | ** |
3 |  |  | 10.9 | % |  |  | ** |
4 |  |  | * |  |  |  | 40.7 | %
5 |  |  | * |  |  |  | 23.2 | %
* | Customer was less than 10% of sales for the three months ended September 30, 2023
** | Customer was less than 10% of sales for the three months ended September 30, 2022
|  | Percentage of Sales |
|  | September 30, |  |  | September 30, |
Customer |  | 2023 |  |  | 2022 |
1 |  |  | 24.7 | % |  |  | 19.5 | %
2 |  |  | 17.3 | % |  |  | 32.5 | %
3 |  |  | 10.9 | % |  |  | ** |
4 |  |  | 10.0 | % |  |  | ** |
5 |  |  | * |  |  |  | 16.9 | %
* | Customer was less than 10% of sales for the nine months ended September 30, 2023
** | Customer was less than 10% of sales for the nine months ended September 30, 2022
|  | Percentage of Accounts Receivables |
|  | September 30, |  |  | December 31, |
Customer |  | 2023 |  |  | 2022 |
1 |  |  | 23.2 | % |  |  | 33.1 | %
2 |  |  | 20.0 | % |  |  | 23.6 | %
3 |  |  | 13.5 | % |  |  | ** |
4 |  |  | * |  |  |  | 13.6 | %
* | Customer was less than 10% of accounts receivable at September 30, 2023
** | Customer was less than 10% of accounts receivable at September 30, 2022
Schedule of Revenue from Contracts with Customers | The following table summarizes revenue from contracts with customers for the three and nine month periods ending September 30, 2023 and 2022:
|  | Three Months Ended |  |  | Nine Months Ended |
Product |  | September 30, 2023 |  |  | September 30, 2022 |  |  | September 30, 2023 |  |  | September 30, 2022 |
Military |  | $ | 10,144,000 |  |  | $ | 11,266,000 |  |  | $ | 31,513,000 |  |  | $ | 33,399,000 |
Commercial |  |  | 2,149,000 |  |  |  | 2,012,000 |  |  |  | 6,534,000 |  |  |  | 5,949,000 |
Total |  | $ | 12,293,000 |  |  | $ | 13,278,000 |  |  | $ | 38,047,000 |  |  | $ | 39,348,000 |
Schedule of Average Market Price of The Common Shares | The following securities have been excluded from the calculation as the exercise price was greater than the average market price of the common shares:
|  | Three and Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |
Stock options |  |  | 462,870 |  |  |  | 305,350 |
Warrants |  |  | - |  |  |  | 76,000 |
|  |  | 462,870 |  |  |  | 381,350 |
Schedule of Anti-Dilutive Due to the Net Loss | The following securities have been excluded from the calculation because the effect of including these potential shares was anti-dilutive due to the net loss incurred during these periods:
|  | Three and Nine Months Ended |
|  | September 30, |  |  | September 30, |
|  | 2023 |  |  | 2022 |
Stock options |  |  | - |  |  |  | - |
Convertible notes payable |  |  | 405,800 |  |  |  | 405,800 |
|  |  | 405,800 |  |  |  | 405,800 |

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