Profire Energy (PFIE) 10-Q 4 Aug 22 2022 Q2 Quarterly report Financial data

Cover Page

Cover Page - shares	6 Months Ended
	Jun. 30, 2022	Aug. 03, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2022
Document Transition Report	false
Entity File Number	001-36378
Entity Registrant Name	PROFIRE ENERGY, INC.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	20-0019425
Entity Address, Address Line One	321 South 1250 West
Entity Address, Address Line Two	Suite 1
Entity Address, City or Town	Lindon
Entity Address, State or Province	UT
Entity Address, Postal Zip Code	84042
City Area Code	801
Local Phone Number	796-5127
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Title of 12(b) Security	Common, $0.001 Par Value
Trading Symbol	PFIE
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding (in shares)		47,033,153
Amendment Flag	false
Entity Central Index Key	0001289636
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2022	Dec. 31, 2021
CURRENT ASSETS
Cash and cash equivalents	$ 7,418,827	$ 8,188,270
Short-term investments	463,027	1,013,683
Accounts receivable, net	7,311,562	6,262,799
Inventories, net (note 3)	9,256,684	7,185,248
Prepaid expenses and other current assets (note 4)	1,156,314	1,025,276
Income tax receivable	25,994	560,445
Total Current Assets	25,632,408	24,235,721
LONG-TERM ASSETS
Net deferred tax asset	160,877	163,254
Long-term investments	8,619,410	8,259,809
Financing right-of-use asset	146,100	65,280
Property and equipment, net	10,799,084	11,185,539
Intangible assets, net	1,438,467	1,549,138
Goodwill	2,579,381	2,579,381
Total Long-Term Assets	23,743,319	23,802,401
TOTAL ASSETS	49,375,727	48,038,122
CURRENT LIABILITIES
Accounts payable	2,945,957	1,822,559
Accrued liabilities (note 5)	2,322,683	1,872,348
Current financing lease liability (note 6)	53,269	30,214
Total Current Liabilities	5,321,909	3,725,121
LONG-TERM LIABILITIES
Net deferred income tax liability	135,698	136,106
Long-term financing lease liability (note 6)	94,958	35,912
TOTAL LIABILITIES	5,552,565	3,897,139
STOCKHOLDERS' EQUITY (note 7)
Preferred stock: $0.001 par value, 10,000,000 shares authorized: no shares issued or outstanding	0	0
Common stock: $0.001 par value, 100,000,000 shares authorized: 52,071,283 issued and 47,033,153 outstanding at June 30, 2022, and 51,720,142 issued and 47,643,233 outstanding at December 31, 2021	52,072	51,720
Treasury stock, at cost	(7,336,323)	(6,107,593)
Additional paid-in capital	31,371,682	30,819,394
Accumulated other comprehensive loss	(2,654,188)	(2,100,467)
Retained earnings	22,389,919	21,477,929
TOTAL STOCKHOLDERS' EQUITY	43,823,162	44,140,983
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 49,375,727	$ 48,038,122

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2022	Dec. 31, 2021
Stock Transactions, Parenthetical Disclosure [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	100,000,000	100,000,000
Common stock, shares issued (in shares)	52,071,283	51,720,142
Common stock, shares outstanding (in shares)	47,033,153	47,643,233

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
REVENUES (note 8)
Total Revenues	$ 9,633,147	$ 6,034,283	$ 19,136,287	$ 11,126,632
COST OF SALES
Total Cost of Sales	5,230,002	3,376,551	10,176,438	6,294,213
GROSS PROFIT	4,403,145	2,657,732	8,959,849	4,832,419
OPERATING EXPENSES
General and administrative	3,786,561	2,783,872	7,178,938	5,338,408
Research and development	362,197	301,445	670,512	558,336
Depreciation and amortization	159,580	166,852	326,597	334,337
Total Operating Expenses	4,308,338	3,252,169	8,176,047	6,231,081
INCOME (LOSS) FROM OPERATIONS	94,807	(594,437)	783,802	(1,398,662)
OTHER INCOME (EXPENSE)
Gain on sale of property and equipment	214,841	38,492	310,683	112,393
Other income (expense)	(17,949)	4,836	(36,728)	4,739
Interest income	20,307	28,569	41,852	49,631
Total Other Income	217,199	71,897	315,807	166,763
INCOME (LOSS) BEFORE INCOME TAXES	312,006	(522,540)	1,099,609	(1,231,899)
INCOME TAX BENEFIT (EXPENSE)	(27,177)	125,374	(187,619)	233,233
NET INCOME (LOSS)	284,829	(397,166)	911,990	(998,666)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation gain (loss)	(290,291)	163,485	(131,933)	303,091
Unrealized gains (losses) on investments	(134,662)	55,529	(421,788)	47,555
Total Other Comprehensive Income (Loss)	(424,953)	219,014	(553,721)	350,646
COMPREHENSIVE INCOME (LOSS)	$ (140,124)	$ (178,152)	$ 358,269	$ (648,020)
BASIC EARNINGS (LOSS) PER SHARE (in dollars per share)	$ 0.01	$ (0.01)	$ 0.02	$ (0.02)
FULLY DILUTED EARNINGS (LOSS) PER SHARE (in dollars per share)	$ 0.01	$ (0.01)	$ 0.02	$ (0.02)
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares)	47,092,275	48,054,136	47,285,782	48,022,295
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares)	48,699,208	48,054,136	48,865,186	48,022,295
Product
REVENUES (note 8)
Total Revenues	$ 8,860,682	$ 5,374,539	$ 17,739,105	$ 10,032,074
COST OF SALES
Total Cost of Sales	4,530,065	2,910,879	8,912,764	5,448,513
Service
REVENUES (note 8)
Total Revenues	772,465	659,744	1,397,182	1,094,558
COST OF SALES
Total Cost of Sales	$ 699,937	$ 465,672	$ 1,263,674	$ 845,700

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($)	Total	Common Stock	Additional Paid-In Capital	Accumulated Other Comprehensive Income (Loss)	Treasury Stock	Retained Earnings
Balance, beginning of period (in shares) at Dec. 31, 2020		47,972,583
Balance, beginning of period at Dec. 31, 2020	$ 45,372,386	$ 51,385	$ 30,293,472	$ (2,148,924)	$ (5,353,019)	$ 22,529,472
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	125,043		125,043
Stock issued in settlement of RSUs (in shares)		49,113
Stock issued in settlement of RSUs and accrued bonuses	0	$ 49	(49)
Tax withholdings paid related to stock based compensation	(26,629)		(26,629)
Foreign currency translation	139,606			139,606
Unrealized losses on investments	(7,974)			(7,974)
Net income (loss)	(601,500)					(601,500)
Balance, end of period (in shares) at Mar. 31, 2021		48,021,696
Balance, end of period at Mar. 31, 2021	45,000,932	$ 51,434	30,391,837	(2,017,292)	(5,353,019)	21,927,972
Balance, beginning of period (in shares) at Dec. 31, 2020		47,972,583
Balance, beginning of period at Dec. 31, 2020	45,372,386	$ 51,385	30,293,472	(2,148,924)	(5,353,019)	22,529,472
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(998,666)
Balance, end of period (in shares) at Jun. 30, 2021		48,239,008
Balance, end of period at Jun. 30, 2021	45,013,664	$ 51,651	30,582,504	(1,798,278)	(5,353,019)	21,530,806
Balance, beginning of period (in shares) at Mar. 31, 2021		48,021,696
Balance, beginning of period at Mar. 31, 2021	45,000,932	$ 51,434	30,391,837	(2,017,292)	(5,353,019)	21,927,972
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	207,084		207,084
Stock issued in settlement of RSUs (in shares)		217,312
Stock issued in settlement of RSUs and accrued bonuses	0	$ 217	(217)
Tax withholdings paid related to stock based compensation	(16,200)		(16,200)
Foreign currency translation	163,485			163,485
Unrealized losses on investments	55,529			55,529
Net income (loss)	(397,166)					(397,166)
Balance, end of period (in shares) at Jun. 30, 2021		48,239,008
Balance, end of period at Jun. 30, 2021	45,013,664	$ 51,651	30,582,504	(1,798,278)	(5,353,019)	21,530,806
Balance, beginning of period (in shares) at Dec. 31, 2021		47,643,233
Balance, beginning of period at Dec. 31, 2021	44,140,983	$ 51,720	30,819,394	(2,100,467)	(6,107,593)	21,477,929
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	138,503		138,503
Stock issued in settlement of RSUs (in shares)		139,894
Stock issued in settlement of RSUs and accrued bonuses	212,787	$ 140	212,647
Tax withholdings paid related to stock based compensation	(91,098)		(91,098)
Treasury stock repurchased (in shares)		(509,631)
Treasury stock repurchased	(622,263)				(622,263)
Foreign currency translation	158,359			158,359
Unrealized losses on investments	(287,126)			(287,126)
Net income (loss)	627,161					627,161
Balance, end of period (in shares) at Mar. 31, 2022		47,273,496
Balance, end of period at Mar. 31, 2022	44,277,306	$ 51,860	31,079,446	(2,229,234)	(6,729,856)	22,105,090
Balance, beginning of period (in shares) at Dec. 31, 2021		47,643,233
Balance, beginning of period at Dec. 31, 2021	44,140,983	$ 51,720	30,819,394	(2,100,467)	(6,107,593)	21,477,929
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	911,990
Balance, end of period (in shares) at Jun. 30, 2022		47,033,153
Balance, end of period at Jun. 30, 2022	43,823,162	$ 52,072	31,371,682	(2,654,188)	(7,336,323)	22,389,919
Balance, beginning of period (in shares) at Mar. 31, 2022		47,273,496
Balance, beginning of period at Mar. 31, 2022	44,277,306	$ 51,860	31,079,446	(2,229,234)	(6,729,856)	22,105,090
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	274,390		274,390
Stock issued in exercise of stock options (in shares)		27,200
Stock issued in exercise of stock options	21,582	$ 28	21,554
Stock issued in settlement of RSUs (in shares)		184,047
Stock issued in settlement of RSUs and accrued bonuses	0	$ 184	(184)
Tax withholdings paid related to stock based compensation	(3,524)		(3,524)
Treasury stock repurchased (in shares)		(451,590)
Treasury stock repurchased	(606,467)				(606,467)
Foreign currency translation	(290,292)			(290,292)
Unrealized losses on investments	(134,662)			(134,662)
Net income (loss)	284,829					284,829
Balance, end of period (in shares) at Jun. 30, 2022		47,033,153
Balance, end of period at Jun. 30, 2022	$ 43,823,162	$ 52,072	$ 31,371,682	$ (2,654,188)	$ (7,336,323)	$ 22,389,919

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
OPERATING ACTIVITIES
Net income (loss)	$ 911,990	$ (998,666)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization expense	558,832	683,597
Gain on sale of property and equipment	(310,683)	(112,393)
Bad debt expense	28,474	(32,463)
Stock awards issued for services	412,893	332,127
Changes in operating assets and liabilities:
Accounts receivable	(877,417)	(7,313)
Income taxes receivable/payable	534,456	(299,436)
Inventories	(2,097,471)	577,341
Prepaid expenses and other current assets	(140,352)	988,464
Deferred tax asset/liability	(408)	78,746
Accounts payable and accrued liabilities	1,601,376	345,818
Net Cash Provided by Operating Activities	621,690	1,555,822
INVESTING ACTIVITIES
Proceeds from sale of property and equipment	412,339	69,484
Purchase of investments	(231,032)	(719,817)
Purchase of property and equipment	(223,215)	(93,049)
Net Cash Used in Investing Activities	(41,908)	(743,382)
FINANCING ACTIVITIES
Value of equity awards surrendered by employees for tax liability	(93,527)	(42,829)
Cash received in exercise of stock options	25,106	0
Purchase of treasury stock	(1,228,731)	0
Principal paid towards lease liability	(19,787)	(21,749)
Net Cash Used in Financing Activities	(1,316,939)	(64,578)
Effect of exchange rate changes on cash	(32,286)	25,201
NET CHANGE IN CASH	(769,443)	773,063
CASH AT BEGINNING OF PERIOD	8,188,270	9,148,312
CASH AT END OF PERIOD	7,418,827	9,921,375
CASH PAID FOR:
Interest	1,253	2,353
Income taxes	21,000	17,150
NON-CASH FINANCING AND INVESTING ACTIVITIES
Common stock issued in settlement of accrued bonuses	$ 212,787	$ 0

CONDENSED FINANCIAL STATEMENTS

CONDENSED FINANCIAL STATEMENTS	6 Months Ended
	Jun. 30, 2022
Condensed Financial Information Disclosure [Abstract]
CONDENSED FINANCIAL STATEMENTS	CONDENSED FINANCIAL STATEMENTS Except where the context otherwise requires, all references herein to the "Company," "Profire," "we," "us," "our," or similar words and phrases are to Profire Energy, Inc. and its wholly owned subsidiaries, taken together. The accompanying consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments (which include only normal recurring adjustments) necessary to present fairly the financial position, results of operations, stockholders' equity, and cash flows at June 30, 2022 and for all periods presented herein have been made. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America ("US GAAP") have been condensed or omitted. These condensed consolidated financial statements should be read in conjunction with the Company's audited financial statements contained in its annual report on Form 10-K for the year ended December 31, 2021 ("Form 10-K"). The results of operations for the three and six-month periods ended June 30, 2022 and 2021 are not necessarily indicative of the operating results for the full years.

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Line of Business This Organization and Summary of Significant Accounting Policies of the Company is presented to assist in understanding the Company's condensed consolidated financial statements. The Company's accounting policies conform to "US GAAP." The Company provides burner-management products, solutions and services primarily for the oil and gas industry within the US and Canadian markets. The Company has begun expanding outside of these markets to other international locations and into other industries with burner management requirements. Significant Accounting Policies There have been no changes to the significant accounting policies of the Company from the information provided in Note 1 of the notes to the consolidated financial statements in the Company's most recent Form 10-K. Recent Accounting Pronouncements The Company has evaluated all recent accounting pronouncements and determined that the adoption of pronouncements applicable to the Company has not had or is not expected to have a material impact on the Company's financial position, results of operations or cash flows.

INVENTORIES

INVENTORIES	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following at each balance sheet date: As of June 30, 2022 December 31, 2021 Raw materials $ 265,354 $ 301,320 Finished goods 9,443,205 7,556,048 Subtotal 9,708,559 7,857,368 Reserve for obsolescence (451,875) (672,120) Total $ 9,256,684 $ 7,185,248

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following at each balance sheet date: As of June 30, 2022 December 31, 2021 Prepaid inventory 627,188 530,725 Prepaid insurance 102,747 228,849 Interest receivables 54,775 63,841 Tax credits 183,426 — Other 188,178 201,861 Total $ 1,156,314 $ 1,025,276

ACCRUED LIABILITIES

ACCRUED LIABILITIES	6 Months Ended
	Jun. 30, 2022
Other Liabilities Disclosure [Abstract]
ACCRUED LIABILITIES	ACCRUED LIABILITIES Accrued liabilities consisted of the following at each balance sheet date: As of June 30, 2022 December 31, 2021 Employee-related payables $ 1,563,981 $ 1,621,131 Deferred revenue 204,257 817 Inventory-related payables 312,998 67,027 Tax-related payables 38,011 37,880 Warranty liabilities 55,376 49,624 Other 148,060 95,869 Total $ 2,322,683 $ 1,872,348

LEASES

LEASES	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
LEASES	LEASES We have leases for office equipment and office space. The leases for office equipment are classified as financing leases and the typical term is 36 months. We have the option to extend most office equipment leases, but we do not intend to do so. Accordingly, no extensions have been recognized in the right-of-use asset or lease liability. The office equipment lease payments are not variable, and the lease agreements do not include any non-lease components, residual value guarantees, or restrictions. There are no interest rates implicit in the office equipment lease agreements, so we have used our incremental borrowing rate to determine the discount rate to be applied to our financing leases for purposes of determining our lease liabilities. The weighted average discount rate applied to our financing leases is 4.50% and the weighted average remaining lease term is 3.8 years. The following table shows the components of financing lease cost: For the Three Months Ended June 30, For the Six Months Ended June 30, Financing Lease Cost 2022 2021 2022 2021 Amortization of right-of-use assets $ 8,651 $ 10,211 $ 21,068 $ 21,203 Interest on lease liabilities 556 417 1,252 2,353 Total financing lease cost $ 9,207 $ 10,628 $ 22,320 $ 23,556 The Company leases one warehouse space with a two Supplemental operating lease information as of June 30, 2022 is as follows: Operating right of use assets $ 48,574 Current operating lease liabilities 24,821 Long-term operating lease liabilities 23,753 Weighted-average remaining lease term in years 2.0 Weighted-average discount rate 4.5 % As of June 30, 2022, maturities of lease liabilities are as follows: Years ending December 31, Amount 2022 $ 28,959 2023 57,919 2024 40,886 2025 11,927 2026 11,927 Thereafter 7,520 Total future minimum lease payments $ 159,138 Less: Amount representing interest 10,911 Present value of future payments $ 148,227 Current portion $ 53,269 Long-term portion $ 94,958

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY As of June 30, 2022, and December 31, 2021, the Company held 5,038,130 and 4,076,909 shares of its common stock in treasury at a total cost of $7,336,323 and $6,107,593, respectively. On September 15, 2021, the Board of Directors of the Company (the "Board") authorized a share repurchase program allowing the Company to repurchase up to $2,000,000 worth of the Company’s common stock from time to time through September 30, 2022. All purchases under this program were made at the discretion of management. The size and timing of purchases were dependent on price, market and business conditions and other factors. As of June 30, 2022, the Company had spent the full allotment under the program. As of June 30, 2022, the Company had 536,361 restricted stock units ("RSUs"), 735,512 performance-based RSUs, and 834,500 stock options outstanding with $939,917 in remaining compensation expense to be recognized over the next 1.6 years. See further details below about certain subsets of these outstanding equity-based awards. On June 15, 2022, pursuant to the annual renewal of director compensation, the Board approved a grant of 178,623 RSUs to the Company's independent directors. Half of the RSUs vested immediately on the date of grant and the remaining 50% of the RSUs will vest on the first anniversary of the grant date or at the Company's next annual meeting of stockholders, whichever is earlier. The awards will result in total compensation expense of approximately $234,000 to be recognized over the vesting period. On April 6, 2022, the Compensation Committee of the Board (The "Compensation Committee") approved the 2022 Executive Incentive Plan (the “2022 EIP”) for, Ryan W. Oviatt, the Company's Co-CEO,Co-President, and CFO, Cameron M. Tidball, the Company's Co-CEO and Co-President, and Patrick D. Fisher, the Company's Vice President of Product Development. The 2022 EIP provides for the potential award of incentive compensation to the participants based on the Company’s financial performance in fiscal 2022. If earned, the incentive compensation will be payable in cash and stock, and the stock portion of the incentive compensation is intended to constitute an award under the Company's 2014 Equity Incentive Plan, as amended (the " Plan"). In addition to the 2022 EIP, the Board also approved as a long-term incentive plan the grants of restricted stock unit awards to Messrs. Oviatt, Tidball, and Fisher pursuant to the Plan (the “2022 LTIP”). 2022 EIP Under the terms of the 2022 EIP, each participating executive officer has been assigned a target incentive compensation amount for fiscal 2022. The target incentive compensation amount for Mr. Oviatt is $198,000, the target incentive compensation amount for Mr. Tidball is $198,000, and the target incentive compensation for Mr. Fisher is $64,750 CAD. Participants will be eligible to receive incentive compensation based upon reaching or exceeding performance goals established by the Compensation Committee for fiscal 2022. The performance goals in the 2022 EIP are based on the Company’s total revenue, EBITDA, and a non-financial milestone relating to revenue source diversification to be determined by the Compensation Committee. Each of these performance goals will be weighted one third in calculating incentive compensation amounts. The incentive compensation amounts earned under the 2022 EIP, if any, will be paid 50% in cash and 50% in shares of restricted stock under the Plan. In no event shall the total award exceed 200% of the target incentive compensation amount for each participant, or exceed any limitations otherwise set forth in the Plan. The actual incentive compensation amounts, if any, will be determined by the Compensation Committee upon the completion of fiscal 2022 and paid by March 15, 2023, subject to all applicable tax withholding. 2022 LTIP The 2022 LTIP consists of total awards of up to 230,232 RSUs to Mr. Oviatt, up to 230,232 RSUs to Mr. Tidball, and up to 43,023 RSUs to Mr. Fisher, pursuant to two separate restricted stock unit award agreements (collectively, the “2022 LTIP Restricted Stock Unit Award Agreements”) entered into between the Company and each participant. One such agreement covers the 33% of each award recipient’s RSUs that are subject to time-based vesting, and the other such agreement covers the remaining 67% of such award recipient’s RSUs that may vest based on performance metrics. Upon vesting, the award agreements entitle the award recipients to receive one share of the Company’s common stock for each vested unit. The vesting period of the 2022 LTIP began on January 1, 2022 and terminates on December 31, 2024 (the “2022 LTIP Performance Vesting Date”). The RSUs subject to time-based vesting, including 76,744 RSUs to Mr. Oviatt, 76,744 RSUs for Mr. Tidball, and 14,341 RSUs to Mr. Fisher, will vest in three equal and annual installments beginning December 31, 2022 and ending on December 31, 2024 if the award recipients’ employment continues with the Company through such dates. The performance-vesting RSUs, including up to 153,488 RSUs for Mr. Oviatt, 153,488 RSUs for Mr. Tidball, and 28,682 RSUs to Mr. Fisher, may vest at the end of the three Performance Metric Weight Target Above Target Outstanding Total Shareholder Return (based on the Company’s closing price of its common stock at the end of the Performance Period relative to its closing price as of the last trading day in 2021) 1/3 89% 136% 183% Relative Total Shareholder Return (based on the Company’s ranked performance in closing stock price growth relative to a peer group of companies during the Performance Period) 1/3 Third Quartile Second Quartile First Quartile EBITDA as a Percentage of Total Revenue 1/3 10% 15% 20% One-third of such performance-vesting RSUs, consisting of 51,163 RSUs for Mr. Oviatt, 51,163 RSUs for Mr. Tidball, and 9,561 RSUs for Mr. Fisher, may vest for each of the three performance metrics identified in the table above. The number of RSUs that will vest for each performance metric on the 2022 LTIP Performance Vesting Date shall be determined as follows: a. if the “Target” level for such performance metric is not achieved, none of the RSUs relating to such performance metric will vest; b. if the “Target” level (but no higher level) for such performance metric is achieved, 50% of the RSUs relating to such performance metric will vest; c. if the “Above Target” level (but no higher level) for such performance metric is achieved, 75% of the RSUs relating to such performance metric will vest; and d. if the “Outstanding” level for such performance metric is achieved, 100% of the RSUs relating to such performance metric will vest. The foregoing summary of the 2022 EIP and the 2022 LTIP Restricted Stock Unit Award Agreements is qualified in its entirety by the text of the 2022 EIP and each of the 2022 LTIP Restricted Stock Unit Award Agreements, which are filed as exhibits to this Form 10-Q for the quarter ending June 30, 2022. 2021 EIP and LTIP On May 28, 2021, the Compensation Committee approved the 2021 Executive Incentive Plan (the “2021 EIP”) for Brenton W. Hatch, the Company’s former Executive Chairman, Ryan W. Oviatt, Cameron M. Tidball, Jay G. Fugal, the Company’s former Vice President of Operations, and Patrick D. Fisher. The 2021 EIP provided for the potential award of incentive compensation to the participants based on the Company’s financial performance in fiscal 2021. The incentive compensation was payable in cash and stock, and the stock portion of the incentive compensation was intended to constitute an award under the Plan. Participants were eligible to receive incentive compensation based upon reaching or exceeding performance goals established by the Compensation Committee for fiscal 2021. The performance goals in the 2021 EIP were based on the Company’s total revenue, EBITDA, and a non-financial milestone relating to revenue source diversification. Each of these performance goals were weighted one third in calculating incentive compensation amounts. On March 2, 2022, the Compensation Committee approved the incentive compensation amounts based on achieving certain targets pursuant to the 2021 EIP. The incentive compensation amounts earned under the 2021 EIP were paid 50% in cash and 50% in shares of restricted stock under the Plan. The incentive compensation amounts resulted in the Compensation Committee approving a one-time bonus for Company executives that was settled by issuing a total of 182,626 shares of common stock, or 120,097 shares net of tax withholding. These shares were fully vested as of March 2, 2022. In addition to the 2021 EIP, the Board also approved as a long-term incentive plan, the grants of restricted stock unit awards to Messrs. Oviatt, Tidball, Fugal, and Fisher pursuant to the Plan (the “2021 LTIP”). The 2021 LTIP consists of total awards of up to 204,543 RSUs to Mr. Oviatt, up to 204,543 RSUs to Mr. Tidball, up to 85,908 RSUs to Mr. Fugal, and up to 47,973 RSUs to Mr. Fisher, pursuant to two separate restricted stock unit award agreements (collectively, the “2021 LTIP Restricted Stock Unit Award Agreements”) between the Company and each participant. One agreement covers the 33% of each award recipient’s RSUs that are subject to time-based vesting, and the other agreement covers the remaining 67% of such award recipient’s RSUs that may vest based on performance metrics. Upon vesting, the award agreements entitle the award recipients to receive one share of the Company’s common stock for each vested RSU. The vesting period of the 2021 LTIP began on January 1, 2021 and terminates on December 31, 2023 (the “2021 LTIP Performance Vesting Date”). The RSUs subject to time-based vesting, including 68,181 RSUs to Mr. Oviatt, 68,181 RSUs for Mr. Tidball, 28,636 RSUs to Mr. Fugal, and 15,991 RSUs to Mr. Fisher, vest in three The performance-vesting RSUs, including up to 136,362 RSUs for Mr. Oviatt, 136,362 RSUs for Mr. Tidball, 57,272 RSUs for Mr. Fugal, and 31,982 RSUs to Mr. Fisher, are eligible to vest over a three-year performance period beginning January 1, 2021 based upon the following Company performance metrics: Performance Metric Weight Target Above Target Outstanding Total Shareholder Return 1/3 135% 194% 253% Relative Total Shareholder Return 1/3 Third Quartile Second Quartile First Quartile EBITDA as a Percentage of Total Revenue 1/3 10% 15% 20% One-third of such performance-vesting RSUs, consisting of 45,454 RSUs for Mr. Oviatt, 45,454 RSUs for Mr. Tidball, 19,091 RSUs for Mr. Fugal, and 10,661 RSUs for Mr. Fisher, are eligible to vest for each of the three performance metrics identified in the table above. The number of RSUs that will vest for each performance metric on the 2021 LTIP Performance Vesting Date shall be determined as follows: • if the “Target” level for such performance metric is not achieved, none of the RSUs relating to such performance metric will vest; • if the “Target” level (but no higher level) for such performance metric is achieved, 50% of the RSUs relating to such performance metric will vest; • if the “Above Target” level (but no higher level) for such performance metric is achieved, 75% of the RSUs relating to such performance metric will vest; and • if the “Outstanding” level for such performance metric is achieved, 100% of the RSUs relating to such performance metric will vest. Mr. Fugal resigned, effective October 31, 2021, from his position as Vice President of Operations to pursue an opportunity as CEO of another company. Accordingly, Mr. Fugal did not receive incentive compensation under the 2021 EIP and will not receive incentive compensation under the 2021 LTIP, and his unvested RSUs have been forfeited. The foregoing summary of the 2021 EIP, the 2021 LTIP and the Restricted Stock Unit Award Agreements is qualified in its entirety by the text of the 2021 EIP and each of the Restricted Stock Unit Award Agreements, which the Company filed as exhibits to its quarterly report on Form 10-Q for the quarter ended June 30, 2021. 2021 RSUs On February 18, 2021, the Board, upon the recommendation of the Compensation Committee, approved a restricted stock award of 18,852 shares of common stock to each of Cameron M. Tidball and Ryan W. Oviatt. Messrs. Tidball and Oviatt entered into Restricted Stock Award Agreements, the forms of which were approved pursuant to the Plan. These restricted stock awards, which vested immediately, were settled by the issuance of a total of 27,334 shares of common stock, net of tax withholding and resulted in $45,999 of compensation expense. On June 16, 2021, pursuant to the annual renewal of director compensation, the Board approved a grant of 189,471 RSUs to the Company's independent directors. Half of the RSUs vested immediately on the date of grant and the remaining 50% of the RSUs vested as the Company's annual meeting of stockholders on June 15, 2022. The awards resulted in total compensation expense of approximately $216,000 recognized over the vesting period.

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Performance Obligations Our performance obligations include providing product and servicing our product. We recognize product revenue performance obligations in most cases when the product is delivered to the customer. Occasionally, if we are shipping the product on a customer’s account, we recognize revenue when the product has been shipped. At that point in time, the control of the product is transferred to the customer. When we perform service work, we apply the practical expedient that allows us to recognize service revenue when we have the right to invoice the customer for the work completed. We do not engage in transactions acting as an agent. The time needed to complete our performance obligations varies based on the size of the project; however, we typically satisfy our performance obligations within a few months of entering into the applicable sales contract or service contract. Our customers have the right to return certain unused and unopened products within 90 days for a restocking fee. We provide a warranty on some of our products ranging from 90 days to 2 years, depending on the product. See Note 5 for the amount accrued for expected returns and warranty claims as of June 30, 2022. Contract Balances We have elected to use the practical expedient in ASC 340-40-25-4 (regarding recognition of the incremental costs of obtaining a contract) for costs related to contracts that are estimated to be completed within one year. All of our current sales contracts and service contracts are expected to be completed within one year, and as a result, we have not recognized a contract asset account. If we had chosen not to use this practical expedient, we would not expect a material difference in the contract balances. Occasionally, we collect milestone payments up front from customers on larger jobs. These payments are classified as deferred revenue until the deliverables have been met and revenue can be properly recognized in our financial statements. Each of the contracts related to these milestone payments is short-term in nature and we expect to recognize associated revenues within one year. As a result, we consider it appropriate to record deferred revenue for these transactions and do not have any other contract liability balances. Disaggregation of Revenue All revenue recognized in the income statement is considered to be revenue from contracts with customers. The table below shows revenue by category: For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2022 2021 2022 2021 Electronics $ 3,560,021 $ 2,016,876 $ 7,041,639 $ 3,868,675 Manufactured 503,129 324,830 1,024,782 561,640 Re-Sell 4,797,532 3,032,833 9,672,684 5,601,759 Service 772,465 659,744 1,397,182 1,094,558 Total Revenue $ 9,633,147 $ 6,034,283 $ 19,136,287 $ 11,126,632

BASIC AND DILUTED EARNINGS (LOS

BASIC AND DILUTED EARNINGS (LOSS) PER SHARE	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
BASIC AND DILUTED EARNINGS (LOSS) PER SHARE	BASIC AND DILUTED EARNINGS (LOSS) PER SHARE The following table is a reconciliation of the numerator and denominators used in the earnings per share calculation: For the Three Months Ended June 30, 2022 2021 Income (Numerator) Weighted Average Shares (Denominator) Per-Share Loss (Numerator) Weighted Average Shares (Denominator) Per-Share Basic EPS Net income (loss) available to common stockholders $ 284,829 47,092,275 $ 0.01 $ (397,166) 48,054,136 $ (0.01) Effect of Dilutive Securities Stock options & RSUs — 1,606,933 — — Diluted EPS Net income (loss) available to common stockholders + assumed conversions $ 284,829 $ 48,699,208 $ 0.01 $ (397,166) $ 48,054,136 $ (0.01) Stock options to purchase and RSUs to vest totaling 1,776,776 shares of common stock at a weighted average price of $1.15 per share were outstanding during the three months ended June 30, 2021, but were not included in the computation of diluted EPS because the impact of these shares would be antidilutive. These options and RSUs, which expire between December 2022 and December 2024, were still outstanding at June 30, 2021. For the Six Months Ended June 30, 2022 2021 Loss (Numerator) Weighted Average Shares (Denominator) Per-Share Loss (Numerator) Weighted Average Shares (Denominator) Per-Share Basic EPS Net income (loss) available to common stockholders $ 911,990 47,285,782 $ 0.02 $ (998,666) 48,022,295 $ (0.02) Effect of Dilutive Securities Stock options & RSUs — 1,579,404 — — Diluted EPS Net income (loss) available to common stockholders + assumed conversions $ 911,990 48,865,186 $ 0.02 $ (998,666) 48,022,295 $ (0.02) Stock options and RSUs to purchase 1,776,776 shares of common stock at a weighted average price of $1.15 per share were outstanding during the six months ended June 30, 2021, but were not included in the computation of diluted EPS because the impact of these shares would be antidilutive. These RSUs, which expire between December 2022 and December 2024, were still outstanding at June 30, 2021.

SEGMENT INFORMATION

SEGMENT INFORMATION	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION The Company operates in the United States and Canada. Segment information for these geographic areas is as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, Sales 2022 2021 2022 2021 Canada $ 1,886,332 $ 1,035,377 $ 3,883,583 $ 1,863,822 United States 7,746,815 4,998,906 15,252,704 9,262,810 Total Consolidated $ 9,633,147 $ 6,034,283 $ 19,136,287 $ 11,126,632 For the Three Months Ended June 30, For the Six Months Ended June 30, Profit (Loss) 2022 2021 2022 2021 Canada $ (601,435) $ (556,713) $ (954,005) $ (877,475) United States 886,264 159,547 1,865,995 (121,191) Total Consolidated $ 284,829 $ (397,166) $ 911,990 $ (998,666) As of Long-Lived Assets June 30, 2022 December 31, 2021 Canada $ 5,450,106 $ 5,667,225 United States 5,495,078 5,583,594 Total Consolidated $ 10,945,184 $ 11,250,819

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2022
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTSIn accordance with ASC 855 "Subsequent Events," Company management reviewed all material events through the date this report was issued noting no items requiring disclosure.

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2022
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company has evaluated all recent accounting pronouncements and determined that the adoption of pronouncements applicable to the Company has not had or is not expected to have a material impact on the Company's financial position, results of operations or cash flows.
Revenue	Performance Obligations Our performance obligations include providing product and servicing our product. We recognize product revenue performance obligations in most cases when the product is delivered to the customer. Occasionally, if we are shipping the product on a customer’s account, we recognize revenue when the product has been shipped. At that point in time, the control of the product is transferred to the customer. When we perform service work, we apply the practical expedient that allows us to recognize service revenue when we have the right to invoice the customer for the work completed. We do not engage in transactions acting as an agent. The time needed to complete our performance obligations varies based on the size of the project; however, we typically satisfy our performance obligations within a few months of entering into the applicable sales contract or service contract. Our customers have the right to return certain unused and unopened products within 90 days for a restocking fee. We provide a warranty on some of our products ranging from 90 days to 2 years, depending on the product. See Note 5 for the amount accrued for expected returns and warranty claims as of June 30, 2022. Contract Balances We have elected to use the practical expedient in ASC 340-40-25-4 (regarding recognition of the incremental costs of obtaining a contract) for costs related to contracts that are estimated to be completed within one year. All of our current sales contracts and service contracts are expected to be completed within one year, and as a result, we have not recognized a contract asset account. If we had chosen not to use this practical expedient, we would not expect a material difference in the contract balances. Occasionally, we collect milestone payments up front from customers on larger jobs. These payments are classified as deferred revenue until the deliverables have been met and revenue can be properly recognized in our financial statements. Each of the contracts related to these milestone payments is short-term in nature and we expect to recognize associated revenues within one year. As a result, we consider it appropriate to record deferred revenue for these transactions and do not have any other contract liability balances.

INVENTORIES (Tables)

INVENTORIES (Tables)	6 Months Ended
	Jun. 30, 2022
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consisted of the following at each balance sheet date: As of June 30, 2022 December 31, 2021 Raw materials $ 265,354 $ 301,320 Finished goods 9,443,205 7,556,048 Subtotal 9,708,559 7,857,368 Reserve for obsolescence (451,875) (672,120) Total $ 9,256,684 $ 7,185,248

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Jun. 30, 2022
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Other Current Assets	Prepaid expenses and other current assets consisted of the following at each balance sheet date: As of June 30, 2022 December 31, 2021 Prepaid inventory 627,188 530,725 Prepaid insurance 102,747 228,849 Interest receivables 54,775 63,841 Tax credits 183,426 — Other 188,178 201,861 Total $ 1,156,314 $ 1,025,276

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2022
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following at each balance sheet date: As of June 30, 2022 December 31, 2021 Employee-related payables $ 1,563,981 $ 1,621,131 Deferred revenue 204,257 817 Inventory-related payables 312,998 67,027 Tax-related payables 38,011 37,880 Warranty liabilities 55,376 49,624 Other 148,060 95,869 Total $ 2,322,683 $ 1,872,348

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2022
Leases [Abstract]
Components of Financing Lease Cost	The following table shows the components of financing lease cost: For the Three Months Ended June 30, For the Six Months Ended June 30, Financing Lease Cost 2022 2021 2022 2021 Amortization of right-of-use assets $ 8,651 $ 10,211 $ 21,068 $ 21,203 Interest on lease liabilities 556 417 1,252 2,353 Total financing lease cost $ 9,207 $ 10,628 $ 22,320 $ 23,556
Operating Lease, Lease Income	Supplemental operating lease information as of June 30, 2022 is as follows: Operating right of use assets $ 48,574 Current operating lease liabilities 24,821 Long-term operating lease liabilities 23,753 Weighted-average remaining lease term in years 2.0 Weighted-average discount rate 4.5 %
Future Minimum Lease Payments to Discounted Finance Lease Liability	As of June 30, 2022, maturities of lease liabilities are as follows: Years ending December 31, Amount 2022 $ 28,959 2023 57,919 2024 40,886 2025 11,927 2026 11,927 Thereafter 7,520 Total future minimum lease payments $ 159,138 Less: Amount representing interest 10,911 Present value of future payments $ 148,227 Current portion $ 53,269 Long-term portion $ 94,958

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	6 Months Ended
	Jun. 30, 2022
Equity [Abstract]
Share-based Compensation Arrangement By Share-based Payment Award, Performance Metrics	The performance-vesting RSUs, including up to 153,488 RSUs for Mr. Oviatt, 153,488 RSUs for Mr. Tidball, and 28,682 RSUs to Mr. Fisher, may vest at the end of the three Performance Metric Weight Target Above Target Outstanding Total Shareholder Return (based on the Company’s closing price of its common stock at the end of the Performance Period relative to its closing price as of the last trading day in 2021) 1/3 89% 136% 183% Relative Total Shareholder Return (based on the Company’s ranked performance in closing stock price growth relative to a peer group of companies during the Performance Period) 1/3 Third Quartile Second Quartile First Quartile EBITDA as a Percentage of Total Revenue 1/3 10% 15% 20% Performance Metric Weight Target Above Target Outstanding Total Shareholder Return 1/3 135% 194% 253% Relative Total Shareholder Return 1/3 Third Quartile Second Quartile First Quartile EBITDA as a Percentage of Total Revenue 1/3 10% 15% 20%

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2022
Revenue from Contract with Customer [Abstract]
Disaggregation of Revenue by Product Line	The table below shows revenue by category: For the Three Months Ended June 30, For the Six Months Ended June 30, 2022 2022 2021 2022 2021 Electronics $ 3,560,021 $ 2,016,876 $ 7,041,639 $ 3,868,675 Manufactured 503,129 324,830 1,024,782 561,640 Re-Sell 4,797,532 3,032,833 9,672,684 5,601,759 Service 772,465 659,744 1,397,182 1,094,558 Total Revenue $ 9,633,147 $ 6,034,283 $ 19,136,287 $ 11,126,632

BASIC AND DILUTED EARNINGS (L_2

BASIC AND DILUTED EARNINGS (LOSS) PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table is a reconciliation of the numerator and denominators used in the earnings per share calculation: For the Three Months Ended June 30, 2022 2021 Income (Numerator) Weighted Average Shares (Denominator) Per-Share Loss (Numerator) Weighted Average Shares (Denominator) Per-Share Basic EPS Net income (loss) available to common stockholders $ 284,829 47,092,275 $ 0.01 $ (397,166) 48,054,136 $ (0.01) Effect of Dilutive Securities Stock options & RSUs — 1,606,933 — — Diluted EPS Net income (loss) available to common stockholders + assumed conversions $ 284,829 $ 48,699,208 $ 0.01 $ (397,166) $ 48,054,136 $ (0.01)

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	6 Months Ended
	Jun. 30, 2022
Segment Reporting [Abstract]
Schedule of Segment Information for Geographic Areas	Segment information for these geographic areas is as follows: For the Three Months Ended June 30, For the Six Months Ended June 30, Sales 2022 2021 2022 2021 Canada $ 1,886,332 $ 1,035,377 $ 3,883,583 $ 1,863,822 United States 7,746,815 4,998,906 15,252,704 9,262,810 Total Consolidated $ 9,633,147 $ 6,034,283 $ 19,136,287 $ 11,126,632 For the Three Months Ended June 30, For the Six Months Ended June 30, Profit (Loss) 2022 2021 2022 2021 Canada $ (601,435) $ (556,713) $ (954,005) $ (877,475) United States 886,264 159,547 1,865,995 (121,191) Total Consolidated $ 284,829 $ (397,166) $ 911,990 $ (998,666) As of Long-Lived Assets June 30, 2022 December 31, 2021 Canada $ 5,450,106 $ 5,667,225 United States 5,495,078 5,583,594 Total Consolidated $ 10,945,184 $ 11,250,819

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Inventory Disclosure [Abstract]
Raw materials	$ 265,354	$ 301,320
Finished goods	9,443,205	7,556,048
Subtotal	9,708,559	7,857,368
Reserve for obsolescence	(451,875)	(672,120)
Total	$ 9,256,684	$ 7,185,248

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS - Schedule of other current assets (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid inventory	$ 627,188	$ 530,725
Prepaid insurance	102,747	228,849
Interest receivables	54,775	63,841
Tax credits	183,426	0
Other	188,178	201,861
Total	$ 1,156,314	$ 1,025,276

ACCRUED LIABILITIES - Schedule

ACCRUED LIABILITIES - Schedule of Accrued Liabilities (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Other Liabilities Disclosure [Abstract]
Employee-related payables	$ 1,563,981	$ 1,621,131
Deferred revenue	204,257	817
Inventory-related payables	312,998	67,027
Tax-related payables	38,011	37,880
Warranty liabilities	55,376	49,624
Other	148,060	95,869
Total	$ 2,322,683	$ 1,872,348

LEASES - Narrative (Details)

LEASES - Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2022 USD ($) warehouse	Jun. 30, 2021 USD ($)
Leases [Abstract]
Lease term	36 months		36 months
Weighted average discount rate	4.50%		4.50%
Weighted average remaining lease term	3 years 9 months 18 days		3 years 9 months 18 days
Number of warehouses | warehouse			1
Lessee, Operating Lease, Term of Contract	2 years		2 years
Short-term lease cost | $	$ 16,261	$ 19,000	$ 36,914	$ 35,263

LEASES - Components of Financin

LEASES - Components of Financing Lease Cost (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Leases [Abstract]
Amortization of right-of-use assets	$ 8,651	$ 10,211	$ 21,068	$ 21,203
Interest on lease liabilities	556	417	1,252	2,353
Total financing lease cost	$ 9,207	$ 10,628	$ 22,320	$ 23,556

LEASES - Supplemental Operating

LEASES - Supplemental Operating Lease Information (Details)	Jun. 30, 2022 USD ($)
Leases [Abstract]
Operating right of use assets	$ 48,574
Current operating lease liabilities	24,821
Long-term operating lease liabilities	$ 23,753
Weighted-average remaining lease term in years	2 years
Weighted-average discount rate	4.50%

LEASES - Future Minimum Lease P

LEASES - Future Minimum Lease Payments to Discounted Finance Lease Liability (Details) - USD ($)	Jun. 30, 2022	Dec. 31, 2021
Years ending December 31,
2022	$ 28,959
2023	57,919
2024	40,886
2025	11,927
2026	11,927
Thereafter	7,520
Total future minimum lease payments	159,138
Less: Amount representing interest	10,911
Present value of future payments	148,227
Current portion	53,269	$ 30,214
Long-term portion	$ 94,958	$ 35,912

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details)

6 Months Ended

Jun. 15, 2022 USD ($) shares

Apr. 06, 2022 USD ($) shares

Apr. 06, 2022 CAD ($) shares

Mar. 02, 2022 shares

Jun. 16, 2021 USD ($) shares

May 28, 2021 agreement bay shares

Feb. 18, 2021 USD ($) shares

Aug. 21, 2020

Jul. 02, 2020

Jun. 17, 2020

Mar. 17, 2020

Jun. 30, 2022 USD ($) shares

Dec. 31, 2021 USD ($) shares

Sep. 15, 2021 USD ($)

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Treasury stock (in shares)

5,038,130

4,076,909

Treasury stock, at cost | $

$ 7,336,323

$ 6,107,593

Authorized shares, amount | $

$ 2,000,000

Compensation expense | $

$ 939,917

Compensation expense recognition period

1 year 7 months 6 days

Shares issued (in shares)

182,626

Shares Issued net of shares for tax withholdings (in shares)

120,097

2022 EIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of bonus paid in cash

50%

50%

Target payout percentage

200%

200%

2022 LTIP | Below Target

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

0%

0%

2022 LTIP | Target

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

50%

50%

2022 LTIP | Above Target

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

75%

75%

2022 LTIP | Outstanding

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

100%

100%

2021 EIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of bonus paid in cash

50%

Percentage of bonus paid in stock

50%

2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of performance metrics | bay

3

2021 LTIP | Below Target

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

0%

2021 LTIP | Target

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

50%

2021 LTIP | Above Target

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

75%

2021 LTIP | Outstanding

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

100%

Tranche One

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percentage

33.33%

Tranche One | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

33%

33%

Tranche One | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

33%

Tranche Two

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percentage

33.33%

Tranche Two | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

67%

67%

Tranche Two | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Percentage of award covered by metric

67%

Tranche Three

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting percentage

33.33%

Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Units outstanding (in shares)

536,361

Compensation expense | $

$ 45,999

Shares issued (in shares)

27,334

Number of shares granted (shares)

178,623

189,471

Award vesting period

1 year

1 year

Award vesting percentage

50%

50%

Unrecognized compensation cost | $

$ 234,000

$ 216,000

Restricted Stock Units | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of restricted stock unit award agreements | agreement

2

Employee Stock Option

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Stock options outstanding (in shares)

834,500

Performance Shares

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Units outstanding (in shares)

735,512

Performance Shares | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Award vesting period

3 years

3 years

3 years

Award vesting percentage

33.33%

Chief Business Development Officer | 2022 EIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Payments to employees | $

$ 198,000

Chief Business Development Officer | Restricted Stock Units | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

230,232

230,232

Chief Business Development Officer | Restricted Stock Units | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

204,543

Chief Business Development Officer | Performance Shares | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

153,488

153,488

Chief Business Development Officer | Performance Shares | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

136,362

Chief Business Development Officer | Performance Shares | Tranche One | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

51,163

51,163

Chief Business Development Officer | Performance Shares | Tranche One | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

45,454

Chief Business Development Officer | Time-based Units | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

76,744

76,744

Chief Business Development Officer | Time-based Units | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

68,181

Vice President of Operations | Restricted Stock Units | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

85,908

Vice President of Operations | Performance Shares | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

57,272

Vice President of Operations | Performance Shares | Tranche One | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

19,091

Vice President of Operations | Time-based Units | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

28,636

Vice President Of Production Development | 2022 EIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Payments to employees | $

$ 64,750

Vice President Of Production Development | Restricted Stock Units | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

43,023

43,023

Vice President Of Production Development | Restricted Stock Units | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

47,973

Vice President Of Production Development | Performance Shares | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

28,682

28,682

Vice President Of Production Development | Performance Shares | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

31,982

Vice President Of Production Development | Performance Shares | Tranche One | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

9,561

9,561

Vice President Of Production Development | Performance Shares | Tranche One | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

10,661

Vice President Of Production Development | Time-based Units | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

14,341

14,341

Vice President Of Production Development | Time-based Units | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

15,991

Co-Chief Executive Offiver | Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

18,852

Chief Financial Officer | 2022 EIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Payments to employees | $

$ 198,000

Chief Financial Officer | Restricted Stock Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

18,852

Chief Financial Officer | Restricted Stock Units | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

230,232

230,232

Chief Financial Officer | Restricted Stock Units | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

204,543

Chief Financial Officer | Performance Shares | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

153,488

153,488

Chief Financial Officer | Performance Shares | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

136,362

Chief Financial Officer | Performance Shares | Tranche One | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

51,163

51,163

Chief Financial Officer | Performance Shares | Tranche One | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

45,454

Chief Financial Officer | Time-based Units | 2022 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

76,744

76,744

Chief Financial Officer | Time-based Units | 2021 LTIP

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Number of shares granted (shares)

68,181

STOCKHOLDERS' EQUITY - Performa

STOCKHOLDERS' EQUITY - Performance Metrics (Details)	Apr. 06, 2022	May 28, 2021
Weight
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return		33.33%
Performance metric percentage, relative total shareholder return		33.33%
Performance metric percentage, EBITDA		33.33%
Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return	89%	135%
Performance metric percentage, relative total shareholder return		75%
Performance metric percentage, EBITDA	10%	10%
Above Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return	136%	194%
Performance metric percentage, relative total shareholder return		50%
Performance metric percentage, EBITDA	15%	15%
Outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return	183%	253%
Performance metric percentage, relative total shareholder return		25%
Performance metric percentage, EBITDA	20%	20%

REVENUE - Narrative (Details)

REVENUE - Narrative (Details)	6 Months Ended
	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Return period	90 days
Minimum
Disaggregation of Revenue [Line Items]
Product warranty term	90 days
Maximum
Disaggregation of Revenue [Line Items]
Product warranty term	2 years

REVENUE - Disaggregation of Rev

REVENUE - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2022	Jun. 30, 2021
Disaggregation of Revenue [Line Items]
Total Revenues	$ 9,633,147	$ 6,034,283	$ 19,136,287	$ 11,126,632
Electronics
Disaggregation of Revenue [Line Items]
Total Revenues	3,560,021	2,016,876	7,041,639	3,868,675
Manufactured
Disaggregation of Revenue [Line Items]
Total Revenues	503,129	324,830	1,024,782	561,640
Re-Sell
Disaggregation of Revenue [Line Items]
Total Revenues	4,797,532	3,032,833	9,672,684	5,601,759
Service
Disaggregation of Revenue [Line Items]
Total Revenues	$ 772,465	$ 659,744	$ 1,397,182	$ 1,094,558

BASIC AND DILUTED EARNINGS (L_3

BASIC AND DILUTED EARNINGS (LOSS) PER SHARE (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021
Income (Loss) (Numerator)
Net income (loss) available to common stockholders	$ 284,829	$ 627,161	$ (397,166)	$ (601,500)	$ 911,990	$ (998,666)
Stock options & RSUs	0		0		0	0
Net income (loss) available to common stockholders + assumed conversions	$ 284,829		$ (397,166)		$ 911,990	$ (998,666)
Weighted Average Shares (Denominator)
Weighted average basic shares outstanding (in shares)	47,092,275		48,054,136		47,285,782	48,022,295
Effect of Dilutive Securities, Stock options & RSUs (in shares)	1,606,933		0		1,579,404	0
Weighted average diluted shares outstanding (in shares)	48,699,208		48,054,136		48,865,186	48,022,295
Per-Share Amount
Basic income (loss) per share (in dollars per share)	$ 0.01		$ (0.01)		$ 0.02	$ (0.02)
Diluted income (loss) per share (in dollars per share)	$ 0.01		$ (0.01)		$ 0.02	$ (0.02)

BASIC AND DILUTED EARNINGS (L_4

BASIC AND DILUTED EARNINGS (LOSS) PER SHARE - Narrative (Details) - $ / shares	3 Months Ended	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,776,776	1,776,776
Weighted average (in dollars per share)	$ 1.15	$ 1.15

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2021	Mar. 31, 2021	Jun. 30, 2022	Jun. 30, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Sales	$ 9,633,147		$ 6,034,283		$ 19,136,287	$ 11,126,632
Profit (Loss)	284,829	$ 627,161	(397,166)	$ (601,500)	911,990	(998,666)
Long-Lived Assets	10,945,184				10,945,184		$ 11,250,819
Canada
Segment Reporting Information [Line Items]
Sales	1,886,332		1,035,377		3,883,583	1,863,822
Profit (Loss)	(601,435)		(556,713)		(954,005)	(877,475)
Long-Lived Assets	5,450,106				5,450,106		5,667,225
United States
Segment Reporting Information [Line Items]
Sales	7,746,815		4,998,906		15,252,704	9,262,810
Profit (Loss)	886,264		$ 159,547		1,865,995	$ (121,191)
Long-Lived Assets	$ 5,495,078				$ 5,495,078		$ 5,583,594