Profire Energy (PFIE) 10-Q 6 Nov 24 2024 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2024	Nov. 05, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
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
Title of 12(b) Security	Common, $0.001 Par Value
Trading Symbol	PFIE
Security Exchange Name	NASDAQ
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
Entity Common Stock, Shares Outstanding		46,199,725
Amendment Flag	false
Entity Central Index Key	0001289636
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q3

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2024	Dec. 31, 2023
CURRENT ASSETS
Cash and cash equivalents	$ 7,963,892	$ 10,767,519
Short-term investments	2,338,259	2,799,539
Accounts receivable, net	16,431,559	14,013,740
Inventories, net (note 3)	17,188,656	14,059,656
Prepaid expenses and other current assets (note 4)	3,379,650	2,832,262
Total Current Assets	47,302,016	44,472,716
LONG-TERM ASSETS
Net deferred tax asset	436,578	496,785
Long-term investments	6,584,919	6,425,582
Lease right-of-use asset (note 6)	369,549	432,907
Property and equipment, net	11,330,713	10,782,372
Intangible assets, net	998,736	1,104,102
Goodwill	2,579,381	2,579,381
Total Long-Term Assets	22,299,876	21,821,129
TOTAL ASSETS	69,601,892	66,293,845
CURRENT LIABILITIES
Accounts payable	2,166,969	2,699,556
Accrued liabilities (note 5)	4,728,919	4,541,820
Current lease liability (note 6)	136,739	130,184
Income taxes payable	542,393	1,723,910
Total Current Liabilities	7,575,020	9,095,470
LONG-TERM LIABILITIES
Net deferred income tax liability	53,318	52,621
Long-term lease liability (note 6)	241,793	307,528
TOTAL LIABILITIES	7,870,131	9,455,619
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: 53,687,955 issued and 46,379,557 outstanding at September 30, 2024, and 53,047,231 issued and 46,803,868 outstanding at December 31, 2023	53,690	53,048
Treasury stock, at cost	(10,976,706)	(9,324,272)
Additional paid-in capital	33,675,391	32,751,749
Accumulated other comprehensive loss	(2,902,754)	(2,844,702)
Retained earnings	41,882,140	36,202,403
TOTAL STOCKHOLDERS' EQUITY	61,731,761	56,838,226
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	$ 69,601,892	$ 66,293,845

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Statement of Financial Position [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)	53,687,955	53,047,231
Common stock, shares outstanding (in shares)	46,379,557	46,803,868

Condensed Consolidated Statemen

Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
REVENUES (note 8)
Total Revenues	$ 17,197,953	$ 14,943,899	$ 45,999,606	$ 44,187,449
COST OF SALES
Total Cost of Sales	8,916,198	7,466,815	23,101,506	21,462,811
GROSS PROFIT	8,281,755	7,477,084	22,898,100	22,724,638
OPERATING EXPENSES
General and administrative	5,058,465	4,605,566	14,431,441	12,573,171
Research and development	337,597	182,253	952,666	649,506
Depreciation and amortization	135,541	145,662	435,209	428,644
Total Operating Expenses	5,531,603	4,933,481	15,819,316	13,651,321
INCOME FROM OPERATIONS	2,750,152	2,543,603	7,078,784	9,073,317
OTHER INCOME (EXPENSE)
Gain on sale of property and equipment	84,971	17,350	221,860	251,768
Other expense	8,973	19,718	(11,322)	(26,704)
Interest income	93,299	74,165	248,543	255,865
Interest expense	(2,358)	(4,438)	(7,960)	(6,226)
Total Other Income	184,885	106,795	451,121	474,703
INCOME BEFORE INCOME TAXES	2,935,037	2,650,398	7,529,905	9,548,020
INCOME TAX EXPENSE	(752,400)	(611,008)	(1,850,168)	(2,061,851)
NET INCOME	2,182,637	2,039,390	5,679,737	7,486,169
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation loss	139,211	(301,642)	(231,674)	(28,838)
Unrealized gains (losses) on investments	107,924	(71,193)	173,622	(25,322)
Total Other Comprehensive Loss	247,135	(372,835)	(58,052)	(54,160)
COMPREHENSIVE INCOME	$ 2,429,772	$ 1,666,555	$ 5,621,685	$ 7,432,009
BASIC EARNINGS PER SHARE (in dollars per share)	$ 0.05	$ 0.04	$ 0.12	$ 0.16
FULLY DILUTED EARNINGS PER SHARE (in dollars per share)	$ 0.04	$ 0.04	$ 0.12	$ 0.15
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares)	46,809,342	47,521,238	46,937,404	47,364,445
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares)	48,739,900	49,504,024	48,867,962	49,314,304
Product
REVENUES (note 8)
Total Revenues	$ 16,017,224	$ 14,085,028	$ 42,435,024	$ 41,562,935
COST OF SALES
Total Cost of Sales	7,881,956	6,666,949	20,418,350	19,157,973
Service
REVENUES (note 8)
Total Revenues	1,180,729	858,871	3,564,582	2,624,514
COST OF SALES
Total Cost of Sales	$ 1,034,242	$ 799,866	$ 2,683,156	$ 2,304,838

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, 2022		47,105,771
Balance, beginning of period at Dec. 31, 2022	$ 46,584,480	$ 52,144	$ 31,737,843	$ (3,294,873)	$ (7,336,323)	$ 25,425,689
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	223,047		223,047
Stock issued in settlement of RSUs and accrued bonuses (in shares)		246,116
Stock issued in settlement of RSUs and accrued bonuses	378,526	$ 247	378,279
Tax withholdings paid related to stock based compensation	(242,506)		(242,506)
Foreign currency translation	(5,524)			(5,524)
Unrealized gains (losses) on investments	76,287			76,287
Net income	2,589,621					2,589,621
Balance, end of period (in shares) at Mar. 31, 2023		47,351,887
Balance, end of period at Mar. 31, 2023	49,603,930	$ 52,391	32,096,662	(3,224,110)	(7,336,323)	28,015,310
Balance, beginning of period (in shares) at Dec. 31, 2022		47,105,771
Balance, beginning of period at Dec. 31, 2022	46,584,480	$ 52,144	31,737,843	(3,294,873)	(7,336,323)	25,425,689
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation	(28,838)
Unrealized gains (losses) on investments	(25,322)
Net income	7,486,169
Balance, end of period (in shares) at Sep. 30, 2023		47,671,720
Balance, end of period at Sep. 30, 2023	54,674,208	$ 52,952	32,734,069	(3,349,033)	(7,675,637)	32,911,857
Balance, beginning of period (in shares) at Mar. 31, 2023		47,351,887
Balance, beginning of period at Mar. 31, 2023	49,603,930	$ 52,391	32,096,662	(3,224,110)	(7,336,323)	28,015,310
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	360,446		360,446
Stock issued in exercise of stock options (in shares)		82,450
Stock issued in exercise of stock options	65,335	$ 83	65,252
Stock issued in settlement of RSUs and accrued bonuses (in shares)		187,296
Stock issued in settlement of RSUs and accrued bonuses	0	$ 188	(188)
Tax withholdings paid related to stock based compensation	(7,175)		(7,175)
Treasury stock repurchased (in shares)		(47,073)
Treasury stock repurchased	(57,958)				(57,958)
Foreign currency translation	278,328			278,328
Unrealized gains (losses) on investments	(30,416)			(30,416)
Net income	2,857,157					2,857,157
Balance, end of period (in shares) at Jun. 30, 2023		47,574,560
Balance, end of period at Jun. 30, 2023	53,069,647	$ 52,662	32,514,997	(2,976,198)	(7,394,281)	30,872,467
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	294,899		294,899
Stock issued in exercise of stock options (in shares)		289,803
Stock issued in exercise of stock options	177,811	$ 290	177,521
Tax withholdings paid related to stock based compensation	(253,348)		(253,348)
Treasury stock repurchased (in shares)		(192,643)
Treasury stock repurchased	(281,356)				(281,356)
Foreign currency translation	(301,642)			(301,642)
Unrealized gains (losses) on investments	(71,193)			(71,193)
Net income	2,039,390					2,039,390
Balance, end of period (in shares) at Sep. 30, 2023		47,671,720
Balance, end of period at Sep. 30, 2023	$ 54,674,208	$ 52,952	32,734,069	(3,349,033)	(7,675,637)	32,911,857
Balance, beginning of period (in shares) at Dec. 31, 2023	46,803,868	46,803,868
Balance, beginning of period at Dec. 31, 2023	$ 56,838,226	$ 53,048	32,751,749	(2,844,702)	(9,324,272)	36,202,403
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	197,443		197,443
Stock issued in exercise of stock options (in shares)		3,869
Stock issued in exercise of stock options	850	$ 4	846
Stock issued in settlement of RSUs and accrued bonuses (in shares)		286,489
Stock issued in settlement of RSUs and accrued bonuses	324,415	$ 288	324,127
Tax withholdings paid related to stock based compensation	(308,090)		(308,090)
Foreign currency translation	(244,801)			(244,801)
Unrealized gains (losses) on investments	11,066			11,066
Net income	1,434,375					1,434,375
Balance, end of period (in shares) at Mar. 31, 2024		47,094,226
Balance, end of period at Mar. 31, 2024	$ 58,253,484	$ 53,340	32,966,075	(3,078,437)	(9,324,272)	37,636,778
Balance, beginning of period (in shares) at Dec. 31, 2023	46,803,868	46,803,868
Balance, beginning of period at Dec. 31, 2023	$ 56,838,226	$ 53,048	32,751,749	(2,844,702)	(9,324,272)	36,202,403
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Foreign currency translation	(231,674)
Unrealized gains (losses) on investments	173,622
Net income	$ 5,679,737
Balance, end of period (in shares) at Sep. 30, 2024	46,379,557	46,379,557
Balance, end of period at Sep. 30, 2024	$ 61,731,761	$ 53,690	33,675,391	(2,902,754)	(10,976,706)	41,882,140
Balance, beginning of period (in shares) at Mar. 31, 2024		47,094,226
Balance, beginning of period at Mar. 31, 2024	58,253,484	$ 53,340	32,966,075	(3,078,437)	(9,324,272)	37,636,778
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	375,062		375,062
Stock issued in exercise of stock options (in shares)		57,982
Stock issued in exercise of stock options	45,281	$ 58	45,223
Stock issued in settlement of RSUs and accrued bonuses (in shares)		194,331
Stock issued in settlement of RSUs and accrued bonuses	0	$ 194	(194)
Tax withholdings paid related to stock based compensation	(10,807)		(10,807)
Treasury stock repurchased (in shares)		(133,791)
Treasury stock repurchased	(190,621)				(190,621)
Foreign currency translation	(126,084)			(126,084)
Unrealized gains (losses) on investments	54,632			54,632
Net income	2,062,725					2,062,725
Balance, end of period (in shares) at Jun. 30, 2024		47,212,748
Balance, end of period at Jun. 30, 2024	60,463,672	$ 53,592	33,375,359	(3,149,889)	(9,514,893)	39,699,503
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Stock based compensation	242,790		242,790
Stock issued in exercise of stock options (in shares)		98,053
Stock issued in exercise of stock options	74,729	$ 98	74,631
Tax withholdings paid related to stock based compensation	(17,389)		(17,389)
Treasury stock repurchased (in shares)		(931,244)
Treasury stock repurchased	(1,461,813)				(1,461,813)
Foreign currency translation	139,211			139,211
Unrealized gains (losses) on investments	107,924			107,924
Net income	$ 2,182,637					2,182,637
Balance, end of period (in shares) at Sep. 30, 2024	46,379,557	46,379,557
Balance, end of period at Sep. 30, 2024	$ 61,731,761	$ 53,690	$ 33,675,391	$ (2,902,754)	$ (10,976,706)	$ 41,882,140

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
OPERATING ACTIVITIES
Net income	$ 5,679,737	$ 7,486,169
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization expense	802,842	822,204
Gain on sale of property and equipment	(221,860)	(251,768)
Bad debt expense	209,177	420,883
Stock awards issued for services	815,295	878,392
Changes in operating assets and liabilities:
Accounts receivable	(2,353,006)	(2,360,696)
Income taxes receivable/payable	(1,178,904)	464,256
Inventories	(3,167,889)	(3,245,588)
Prepaid expenses and other current assets	(583,976)	(437,023)
Deferred tax asset/liability	61,953	466,398
Accounts payable and accrued liabilities	(286,109)	(1,574,995)
Net Cash Provided by (Used in) Operating Activities	(222,740)	2,668,232
INVESTING ACTIVITIES
Proceeds from sale of property and equipment	316,095	328,350
Sale (purchase) of investments	476,281	(383,520)
Purchase of property and equipment	(1,403,525)	(974,070)
Net Cash Used in Investing Activities	(611,149)	(1,029,240)
FINANCING ACTIVITIES
Value of equity awards surrendered by employees for tax liability	(336,833)	(502,307)
Cash received in exercise of stock options	96,476	178,195
Purchase of treasury stock	(1,652,434)	(339,313)
Principal paid toward lease liability	(33,499)	(26,617)
Net Cash Used in Financing Activities	(1,926,290)	(690,042)
Effect of exchange rate changes on cash	(43,448)	5,335
NET CHANGE IN CASH	(2,803,627)	954,285
CASH AT BEGINNING OF PERIOD	10,767,519	7,384,578
CASH AT END OF PERIOD	7,963,892	8,338,863
CASH PAID FOR:
Interest	7,960	6,227
Income taxes	3,107,899	1,126,750
NON-CASH FINANCING AND INVESTING ACTIVITIES
Common stock issued in settlement of accrued bonuses	324,415	378,526
Common stock issued for stock options	$ 120,860	$ 0

CONDENSED FINANCIAL STATEMENTS

CONDENSED FINANCIAL STATEMENTS	9 Months Ended
	Sep. 30, 2024
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 condensed consolidated financial statements have been prepared by the Company without audit. In the opinion of management, all adjustments have been made (which include only normal recurring adjustments) which are necessary to present fairly the financial position, results of operations, stockholders' equity, and cash flows at September 30, 2024 and for all periods presented herein. 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, 2023 ("Form 10-K"). The results of operations for the three- and nine-month periods ended September 30, 2024 and 2023 are not necessarily indicative of the operating results for the full years. Certain amounts in the accompanying September 30, 2023 condensed consolidated statement of income and comprehensive income and footnotes have been reclassified to conform to the September 30, 2024 presentation.

ORGANIZATION AND SUMMARY OF SIG

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2024
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 made progress in expansion efforts outside of these markets into other industries with combustion and burner management requirements as well as into other international locations. 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 Accounting Standards Update No. 2023-07 —Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures The update is intended to improve reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. The amendments require disclosure of significant segment expenses regularly provided to the chief operating decision maker (CODM) as well as other segment items, extend certain annual disclosures to interim periods, clarify the applicability to single reportable segment entities, permit more than one measure of profit or loss to be reported under certain conditions, and require disclosure of the title and position of the CODM. The new disclosures have been adopted in this report. See NOTE 10 – SEGMENT INFORMATION. Accounting Standards Update No. 2023-09 —Income Taxes (Topic 740): Improvements to Income Tax Disclosures The update requires the annual financial statements to include consistent categories and greater disaggregation of information in the rate reconciliation, and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for the Company’s annual reporting periods beginning after December 15, 2024, with early adoption permitted, and should be applied on a prospective basis, with a retrospective option. We are currently evaluating the effect that adoption of ASU 2023-09 will have on our disclosures. The Company has evaluated all other recent accounting pronouncements and determined that the adoption of other pronouncements applicable to the Company has not had, nor is expected to have, a material impact on the Company's financial position, results of operations, or cash flows.

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
INVENTORIES	INVENTORIES Inventories consisted of the following at each balance sheet date: As of September 30, 2024 December 31, 2023 Raw materials $ 306,725 $ 338,539 Finished goods 17,298,562 14,171,616 Subtotal 17,605,287 14,510,155 Reserve for obsolescence (416,631) (450,499) Total $ 17,188,656 $ 14,059,656

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	9 Months Ended
	Sep. 30, 2024
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 September 30, 2024 December 31, 2023 Prepaid inventory $ 2,373,895 $ 1,944,942 Accrued receivables 48,367 119,035 Prepaid insurance 456,886 351,273 Interest receivables 65,806 81,868 Other 434,696 335,144 Total $ 3,379,650 $ 2,832,262

ACCRUED LIABILITIES

ACCRUED LIABILITIES	9 Months Ended
	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
ACCRUED LIABILITIES	ACCRUED LIABILITIES Accrued liabilities consisted of the following at each balance sheet date: As of September 30, 2024 December 31, 2023 Employee-related payables $ 2,098,401 $ 2,910,801 Deferred revenue 725,527 780,428 Inventory-related payables 1,574,215 400,701 Tax-related payables 57,549 119,188 Warranty liabilities 102,071 108,930 Other 171,156 221,772 Total $ 4,728,919 $ 4,541,820

LEASES

LEASES	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
LEASES	LEASES As of Components of lease right-of-use assets and liabilities September 30, 2024 December 31, 2023 Financing lease right-of-use assets $ 68,725 $ 106,402 Operating lease right-of-use assets 300,824 326,505 Total Lease right-of-use assets $ 369,549 $ 432,907 Financing current lease liability $ 36,304 $ 47,492 Operating current lease liability 100,435 82,692 Total Current lease liability $ 136,739 $ 130,184 Financing long-term lease liability $ 38,191 $ 63,393 Operating long-term lease liability 203,602 244,135 Total Long-term lease liability $ 241,793 $ 307,528 We have leases for office equipment and office space. The leases for office equipment are classified as financing leases, and the typical term is between 36 and 60 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 the purpose of determining our lease liabilities. The weighted average discount rate applied to our financing leases was 4.50% through 2023 and is 7.5% in 2024, and the weighted average remaining lease term is 2.1 years. The following table shows the components of financing lease cost: For the Three Months Ended September 30, For the Nine Months Ended September 30, Financing Lease Cost 2024 2023 2024 2023 Amortization of right-of-use assets $ 12,559 $ 14,332 $ 37,677 $ 28,811 Interest on lease liabilities 2,358 4,438 7,960 6,226 Total financing lease cost $ 14,917 $ 18,770 $ 45,637 $ 35,037 We lease two warehouse spaces, one with a two-year lease, and another with a four-year lease, both of which are recorded as operating leases. The weighted average discount rate applied to our operating leases was 4.5% through 2023 and is 7.5% in 2024, and the weighted average remaining lease term is 3.0 years. The remainder of our office space leases are considered to be short-term, and we have elected not to recognize those on our balance sheet under the short-term recognition exemption. Operating lease expense recognized during the three- and nine-months ended September 30, 2024 and September 30, 2023 was $77,388 and $15,081, and $154,476 and $52,285, respectively. As of September 30, 2024, maturities of lease liabilities are as follows: Years ending December 31, Amount 2024 $ 40,961 2025 152,678 2026 123,768 2027 91,097 2028 — Thereafter — Total future minimum lease payments $ 408,504 Less: Amount representing interest 29,972 Present value of future payments $ 378,532 Current portion $ 136,739 Long-term portion $ 241,793
LEASES	LEASES As of Components of lease right-of-use assets and liabilities September 30, 2024 December 31, 2023 Financing lease right-of-use assets $ 68,725 $ 106,402 Operating lease right-of-use assets 300,824 326,505 Total Lease right-of-use assets $ 369,549 $ 432,907 Financing current lease liability $ 36,304 $ 47,492 Operating current lease liability 100,435 82,692 Total Current lease liability $ 136,739 $ 130,184 Financing long-term lease liability $ 38,191 $ 63,393 Operating long-term lease liability 203,602 244,135 Total Long-term lease liability $ 241,793 $ 307,528 We have leases for office equipment and office space. The leases for office equipment are classified as financing leases, and the typical term is between 36 and 60 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 the purpose of determining our lease liabilities. The weighted average discount rate applied to our financing leases was 4.50% through 2023 and is 7.5% in 2024, and the weighted average remaining lease term is 2.1 years. The following table shows the components of financing lease cost: For the Three Months Ended September 30, For the Nine Months Ended September 30, Financing Lease Cost 2024 2023 2024 2023 Amortization of right-of-use assets $ 12,559 $ 14,332 $ 37,677 $ 28,811 Interest on lease liabilities 2,358 4,438 7,960 6,226 Total financing lease cost $ 14,917 $ 18,770 $ 45,637 $ 35,037 We lease two warehouse spaces, one with a two-year lease, and another with a four-year lease, both of which are recorded as operating leases. The weighted average discount rate applied to our operating leases was 4.5% through 2023 and is 7.5% in 2024, and the weighted average remaining lease term is 3.0 years. The remainder of our office space leases are considered to be short-term, and we have elected not to recognize those on our balance sheet under the short-term recognition exemption. Operating lease expense recognized during the three- and nine-months ended September 30, 2024 and September 30, 2023 was $77,388 and $15,081, and $154,476 and $52,285, respectively. As of September 30, 2024, maturities of lease liabilities are as follows: Years ending December 31, Amount 2024 $ 40,961 2025 152,678 2026 123,768 2027 91,097 2028 — Thereafter — Total future minimum lease payments $ 408,504 Less: Amount representing interest 29,972 Present value of future payments $ 378,532 Current portion $ 136,739 Long-term portion $ 241,793

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
STOCKHOLDERS' EQUITY	STOCKHOLDERS' EQUITY As of September 30, 2024 and December 31, 2023, the Company held 7,308,398 and 6,243,363 shares of its common stock in treasury at a total cost of $10,976,706 and $9,324,272, respectively. On May 22, 2024, the Company announced that its Board of Directors (the "Board") had 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 June 30, 2025. Purchases under the program will be made pursuant to a Rule 10b5-1 plan to be entered into at the discretion of management. The size and timing of any purchases were and will be dependent on price, market and business conditions and other factors. On May 9, 2023, the Company announced that the Board had 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 April 30, 2024. Purchases under the program were made pursuant to a Rule 10b5-1 plan entered into in June 2023. The size and timing of any purchases were dependent on price, market and business conditions and other factors. As of December 2023, the Company had spent the full allotment under this program. As of September 30, 2024, the Company had 881,222 restricted stock units ("RSUs"), 1,049,336 performance-based RSUs, and 0 stock options outstanding with $923,136 in remaining compensation expense to be recognized over the next 1.5 years. See further details below about certain subsets of these outstanding equity-based awards. On June 12, 2024, pursuant to the annual renewal of director compensation, the Board approved a grant of 192,699 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 $264,000 to be recognized over the vesting period. On April 9, 2024, the Compensation Committee of the Board (the "Compensation Committee") approved the 2024 Executive Incentive Plan (the “2024 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 2024 EIP provides for the potential award of incentive compensation to the participants based on the Company’s financial performance in fiscal 2024. 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 2023 Equity Incentive Plan (the "2023 Plan"). In addition to the 2024 EIP, the Board also approved as a long-term incentive plan the grants of a restricted stock unit awards to Messrs. Oviatt, Tidball, and Fisher pursuant to the 2023 Plan (the “2024 LTIP”). 2024 EIP Under the terms of the 2024 EIP, each participating executive officer has been assigned a target incentive compensation amount for fiscal 2024. The target incentive compensation amount for Mr. Oviatt is equal to 65% of his base salary as of December 31, 2024, the target incentive compensation amount for Mr. Tidball is equal to 65% of his base salary as of December 31, 2024, and the target incentive compensation for Mr. Fisher is equal to 40% of his base salary as of December 31, 2024. Under no circumstance can the participants receive more than two times the assigned target incentive compensation. Participants will be eligible to receive incentive compensation based upon reaching or exceeding performance goals established by the Compensation Committee for fiscal 2024. The performance goals in the 2024 EIP are based on the Company’s total revenue, EBITDA, and two non-financial factors including strategic growth initiatives and safety and other. Each of the revenue, EBITDA, and strategic growth initiatives performance goals will be weighted 30% while the safety and other goal will be weighted 10% in calculating incentive compensation amounts. The incentive compensation amounts earned under the 2024 EIP, if any, will be paid 50% in cash and 50% in shares of restricted stock under the 2023 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 2023 Plan. The actual incentive compensation amounts, if any, will be determined by the Compensation Committee upon the completion of fiscal 2024 reporting period and paid by March 15, 2025, subject to all applicable tax withholding. 2024 LTIP The 2024 LTIP consists of total awards of up to 204,651 restricted stock units (“Units”) to Mr. Oviatt, up to 204,651 Units to Mr. Tidball, and up to 36,195 Units to Mr. Fisher, pursuant to two separate restricted stock unit award agreements (collectively, the “2024 LTIP Restricted Stock Unit Award Agreements”) entered between the Company and each participant. One such agreement covers 33% of each award recipient’s Units that are subject to time-based vesting, and the other such agreement covers the remaining 67% of such award recipient’s Units 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 2024 LTIP began on January 1, 2024 and terminates on December 31, 2026 (the “2024 LTIP Performance Vesting Date”). The Units subject to time-based vesting, including 68,217 Units to Mr. Oviatt, 68,217 Units for Mr. Tidball, and 12,065 Units to Mr. Fisher, will vest in three equal and annual installments beginning January 1, 2024 and ending on December 31, 2026 if the award recipients’ employment continues with the Company through such dates. The performance-vesting Units, including up to 136,434 Units for Mr. Oviatt, 136,434 Units for Mr. Tidball, and 24,130 Units to Mr. Fisher, may vest over a three-year performance period beginning January 1, 2024 (the “2024 LTIP Performance Period”) based upon the following Company performance metrics: Performance Metrics Weight Target Above Target Outstanding Total Shareholder Return (based on the Company’s closing price of its common stock at the end of the 2024 LTIP Performance Period relative to its closing price as of the last trading day in 2023) 1/3 26.0% 47.9% 77.5% 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 2024 LTIP Performance Period) 1/3 Third Quartile Second Quartile First Quartile EBITDA as a Percentage of Total Revenue 1/3 17.5% 20.0% 22.5% One-third of such performance-vesting Units, consisting of 45,477 Units for Mr. Oviatt, 45,477 Units for Mr. Tidball, and 8,043 Units for Mr. Fisher, may vest for each of the three performance metrics identified in the table above. The number of Units that will vest for each performance metric on the 2024 LTIP Performance Vesting Date shall be determined as follows: a. if the “Target” level for such performance metric is not achieved, none of the Units 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 Units 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 Units relating to such performance metric will vest; and d. if the “Outstanding” level for such performance metric is achieved, 100% of the Units relating to such performance metric will vest. The foregoing summary of the 2024 EIP and the 2024 LTIP Restricted Stock Unit Award Agreements relating to the 2024 LTIP is qualified in its entirety by the text of the 2024 EIP and each of the 2024 LTIP Restricted Stock Unit Award Agreements, which were filed as exhibits to the Quarterly Report on Form 10-Q for the quarter ending March 31, 2024. 2023 RSUs On June 29, 2023, pursuant to the annual renewal of director compensation, the Board approved a grant of 195,966 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 $243,000 to be recognized over the vesting period. 2023 EIP and LTIP On April 25, 2023, the Compensation Committee approved the 2023 Executive Incentive Plan (the “2023 EIP”) for Messrs. Oviatt, Tidball, and Fisher. The 2023 EIP provided for the potential award of incentive compensation to the participants based on the Company’s financial performance in fiscal 2023. The incentive compensation was payable in cash and stock, and the stock portion of the incentive compensation constituted an award under the 2023 Plan. Participants were eligible to receive incentive compensation based upon reaching or exceeding performance goals established by the Compensation Committee for fiscal 2023. The performance goals in the 2023 EIP were based on the Company’s total revenue, EBITDA, and two non-financial factors including revenue source diversification and safety and environmental performance. Each of the revenue, EBITDA, and revenue diversification performance goals were weighted 30% while the safety and environment goal was weighted 10% in calculating incentive compensation amounts. On March 6, 2024, the Compensation Committee approved the incentive compensation amounts based on achieving certain targets pursuant to the 2023 EIP. The incentive compensation amounts earned under the 2023 EIP were paid 50% in cash and 50% in shares of restricted stock under the 2023 Plan. In satisfaction of the 50% of the 2023 EIP plan that was payable in stock, the Compensation Committee approved a one-time bonus for Company executives that was settled by issuing a total of 225,698 shares of common stock, or 121,624 shares net of tax withholding. These shares were fully vested as of March 6, 2024. In addition to the 2023 EIP, the Board also approved as a long-term incentive plan the grants of RSU awards to Messrs. Oviatt, Tidball, and Fisher pursuant to the 2023 Plan (the “2023 LTIP”). The 2023 LTIP consists of total awards of up to 287,076 RSUs (“Units”) to Mr. Oviatt, up to 287,076 Units to Mr. Tidball, and up to 50,868 Units to Mr. Fisher, pursuant to two separate restricted stock unit award agreements (collectively, the “2023 LTIP Restricted Stock Unit Award Agreements”) to be entered between the Company and each participant. One such agreement covers 33% of each award recipient’s Units that are subject to time-based vesting, and the other such agreement covers the remaining 67% of such award recipient’s Units 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 2023 LTIP began on January 1, 2023 and terminates on December 31, 2025 (the “2023 LTIP Performance Vesting Date”). The Units subject to time-based vesting, including 95,692 Units to Mr. Oviatt, 95,692 Units for Mr. Tidball, and 16,956 Units to Mr. Fisher, will vest in three equal and annual installments beginning December 31, 2023 and ending on December 31, 2025 if the award recipients’ employment continues with the Company through such dates. The performance-vesting Units, including up to 191,384 Units for Mr. Oviatt, 191,384 Units for Mr. Tidball, and 33,912 Units to Mr. Fisher, may vest over a three-year performance period beginning January 1, 2023 (the “2023 LTIP Performance Period”) based upon the following Company performance metrics: Performance Metrics Weight Target Above Target Outstanding Total Shareholder Return (based on the Company’s closing price of its common stock at the end of the 2023 LTIP Performance Period relative to its closing price as of the last trading day in 2022) 1/3 94.2% 142.7% 191.3% 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 2023 LTIP Performance Period) 1/3 Third Quartile Second Quartile First Quartile EBITDA as a Percentage of Total Revenue 1/3 15% 17.5% 20% One-third of such performance-vesting Units, consisting of 63,794 Units for Mr. Oviatt, 63,794 Units for Mr. Tidball, and 11,304 Units for Mr. Fisher, may vest for each of the three performance metrics identified in the table above. The number of Units that will vest for each performance metric on the 2023 LTIP Performance Vesting Date shall be determined as follows: a. if the “Target” level for such performance metric is not achieved, none of the Units 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 Units 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 Units relating to such performance metric will vest; and d. if the “Outstanding” level for such performance metric is achieved, 100% of the Units relating to such performance metric will vest. The foregoing summary of the 2023 EIP and the 2023 LTIP Restricted Stock Unit Award Agreements relating to the 2023 LTIP is qualified in its entirety by the text of the 2023 EIP and each of the 2023 LTIP Restricted Stock Unit Award Agreements, which were filed as exhibits to the Quarterly Report on Form 10-Q for the quarter ending March 31, 2023. 2022 LTIP On April 6, 2022, the Compensation Committee approved as a long-term incentive plan the grants of restricted stock unit awards to Messrs. Oviatt, Tidball, and Fisher (the "2022 LTIP") pursuant to the Company's 2014 Equity Incentive Plan, as amended (the “2014 Plan”). 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-year performance period beginning January 1, 2022 (the "2022 LTIP Performance Period") based upon the following Company performance metrics: 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 2022 LTIP 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 2022 LTIP 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 LTIP Restricted Stock Unit Award Agreements is qualified in its entirety by the text of each of the 2022 LTIP Restricted Stock Unit Award Agreements, which were filed as exhibits to the Company's Form 10-Q for the quarter ending March 31, 2022. 2021 LTIP On May 28, 2021, the Board approved as a long-term incentive plan, the grants of restricted stock unit awards to Messrs. Oviatt, Tidball, Fugal, and Fisher pursuant to the 2014 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 terminated 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, vested in three equal annual installments that began on December 31, 2021 and ended on December 31, 2023. 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, were 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. Jay Fugal, the Company's former Vice President of Operations, and 10,661 RSUs for Mr. Fisher, were eligible to vest for each of the three performance metrics identified in the table above. The number of RSUs that vested for each performance metric on the 2021 LTIP Performance Vesting Date was 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 LTIP, and his unvested RSUs have been forfeited. On March 6, 2024, the Compensation Committee approved the incentive compensation amounts based on achieving certain targets pursuant to the 2021 LTIP. The performance vesting RSUs were settled by issuing a total of 152,354 shares of common stock, or 80,059 shares net of tax withholding. The foregoing summary of the 2021 LTIP is qualified in its entirety by the text of each of the 2021 LTIP 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.

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	REVENUE Performance Obligations Our performance obligations include providing product and servicing our product as well as other combustion related equipment. 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 September 30, 2024. 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 We consider all revenue recognized in the income statement to be revenue from contracts with customers. The table below shows revenue by category: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Electronics $ 6,004,186 $ 5,425,343 $ 16,963,841 $ 17,041,819 Manufactured 4,085,461 2,927,612 10,356,433 9,325,211 Re-Sell 5,927,577 5,732,073 15,114,750 15,195,905 Service 1,180,729 858,871 3,564,582 2,624,514 Total Revenue $ 17,197,953 $ 14,943,899 $ 45,999,606 $ 44,187,449

BASIC AND DILUTED EARNINGS PER

BASIC AND DILUTED EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
BASIC AND DILUTED EARNINGS PER SHARE	BASIC AND DILUTED EARNINGS 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 September 30, 2024 2023 Income (Numerator) Weighted Average Shares (Denominator) Per-Share Income (Numerator) Weighted Average Shares (Denominator) Per-Share Basic EPS Net income available to common stockholders $ 2,182,637 46,809,342 $ 0.05 $ 2,039,390 47,521,238 $ 0.04 Effect of Dilutive Securities Stock options & RSUs — 1,930,558 — 1,982,786 Diluted EPS Net income available to common stockholders + assumed conversions $ 2,182,637 48,739,900 $ 0.04 $ 2,039,390 49,504,024 $ 0.04 For the Nine Months Ended September 30, 2024 2023 Loss (Numerator) Weighted Average Shares (Denominator) Per-Share Loss (Numerator) Weighted Average Shares (Denominator) Per-Share Basic EPS Net income available to common stockholders $ 5,679,737 46,937,404 $ 0.12 $ 7,486,169 47,364,445 $ 0.16 Effect of Dilutive Securities Stock options & RSUs — 1,930,558 — 1,949,859 Diluted EPS Net income available to common stockholders + assumed conversions $ 5,679,737 48,867,962 $ 0.12 $ 7,486,169 49,314,304 $ 0.15

SEGMENT INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION We are required to report segment information in the same way that we internally organize our business for assessing performance and making decisions regarding allocation of resources. Our product and services lines are similar in their production processes, customers, and economic characteristics; and we do not manage the business or allocate costs based on individual product or service lines. Revenues are regularly reviewed on a disaggregated basis between our US and Canada subsidiaries; however, individual subsidiary operating performance is not reviewed regularly. Each subsidiary has a different purpose within the consolidated organization as a whole and they are not comparable to one another. As a result, we have concluded that we only have one operating segment, which is the consolidated company as a whole. We record inter-subsidiary revenues and costs for transfer pricing purposes related to income tax planning. Segment information for these geographic areas is as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Revenues 2024 2023 2024 2023 Revenue from external customers Canada $ 2,519,096 $ 2,252,176 $ 6,102,324 $ 6,438,528 United States 14,678,857 12,691,722 39,897,282 37,748,921 Inter-subsidiary revenue Canada 3,489,665 918,717 9,548,373 4,362,416 United States 3,502 4,356 7,175 7,626 Inter-subsidiary eliminations -3,493,167 -923,072 (9,555,547) (4,370,042) Total Revenue $ 17,197,953 $ 14,943,899 $ 45,999,606 $ 44,187,449 For the Three Months Ended September 30, For the Nine Months Ended September 30, Income from Operations 2024 2023 2024 2023 Canada $ 829,065 $ 142,537 $ 2,417,305 $ 1,441,373 United States 1,921,086 2,401,066 4,661,479 7,631,944 Total Income from Operations 2,750,152 2,543,603 7,078,784 9,073,317 Gain on sale of property and equipment 84,971 17,350 221,860 251,768 Other expense 8,973 19,718 (11,322) (26,704) Interest income 93,299 74,165 248,543 255,865 Interest expense (2,358) (4,438) (7,960) (6,226) Income before income taxes $ 2,935,037 $ 2,650,398 $ 7,529,905 $ 9,548,020 As of Long-Lived Assets September 30, 2024 December 31, 2023 Canada $ 4,906,495 $ 5,024,824 United States 6,793,767 6,190,455 Total Consolidated $ 11,700,262 $ 11,215,279

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2024
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS In accordance with ASC 855 "Subsequent Events," Company management reviewed all material events through the date this report was issued. Agreement and Plan of Merger On October 28, 2024, Profire Energy, Inc. (the “ Company ” or “ we ”) entered into an Agreement and Plan of Merger (the “ Merger Agreement ”) with CECO Environmental Corp., a Delaware corporation (“ Parent ”), and Combustion Merger Sub, Inc. (“ Merger Sub ”), a Delaware corporation and a direct, wholly owned subsidiary of Parent. The Merger Agreement provides for the acquisition of the Company by Parent in a two-step all cash transaction, consisting of a tender offer, followed by a subsequent merger of Merger Sub with and into the Company (the “ Merger ”), with the Company continuing as the surviving corporation. Pursuant to the Merger Agreement, and on the terms and subject to the conditions thereof, Parent will cause Merger Sub to commence a cash tender offer (the “ Offer ”) to acquire all of the outstanding shares of common stock, par value $0.001 per share of the Company (the “ Company Common Stock ”), at a price per share of Company Common Stock of $2.55 (the “ Offer Price ”) net to the seller thereof in cash, without any interest, subject to any required withholding taxes. The Offer will initially remain open for 20 business days from the date of commencement of the Offer (unless otherwise agreed to in writing by Parent and the Company). If at the scheduled expiration time of the Offer any of the conditions to the Offer have not been satisfied or waived, Merger Sub shall, and Parent shall cause Merger Sub to, extend the Offer for up to 3 additional periods of up to 10 business days per extension (with each such period to expire at one minute after 11:59 p.m. Eastern Time on the last business day of such period) (or such other duration as may be agreed in writing by Parent and the Company), to permit such conditions to the Offer to be satisfied. The obligation of Merger Sub to accept for payment Shares validly tendered pursuant to the Offer is subject to customary closing conditions, including: ( a) the number of shares of Company Common Stock validly tendered and not validly withdrawn prior to the expiration time of the Offer, when added to any shares of Company Common Stock already owned by Parent, Merger Sub or any of Parent’s other subsidiaries, equals at least a majority of the voting power of the then issued and outstanding shares of Company Common Stock (the “ Minimum Tender Condition ”); (b) the accuracy of the Company’s representations and warranties contained in the Merger Agreement (subject to any applicable Company Material Adverse Effect (as defined in the Merger Agreement) and other materiality qualifiers); (c) the absence of any Material Adverse Effect; and (d) the waiting period applicable to the Offer under the Hart-Scott-Rodino Act of 1976 shall have expired or been terminated . As soon as practicable following the acceptance of the shares of Company Common Stock validly tendered and not validly withdrawn pursuant to the Offer (the “ Offer Closing ”), subject to the satisfaction or waiver of certain customary conditions set forth in the Merger Agreement, the Merger will be effected pursuant to Section 92A.133 of the Nevada Revised Statues (the “ NRS ”) and Section 252 of the General Corporation Law of the State of Delaware (the “ DGCL ”), without a vote of the Company stockholders. Subject to the terms and conditions set forth in the Merger Agreement, at the effective time of the Merger (the “ Effective Time ”), by virtue of the Merger, each share of Company Common Stock issued and outstanding immediately prior to the Effective Time (a) owned by Parent, the Merger Sub or the Company (as treasury stock or otherwise) or any of their direct or indirect wholly owned Subsidiaries shall be cancelled and retired and shall cease to exist, and consideration will be delivered in exchange therefor, and (b) other than the shares contemplated in the foregoing clause (a), shall be converted into the right to receive, in cash and without interest, an amount equal to the Offer Price (the “ Merger Consideration ”) in cash, without any interest, subject to any required withholding taxes. As the Effective Time, each award of restricted stock units relating to a share of Company Common Stock (“ Company RSU ”) that is outstanding under the Company’s 2014 Equity Incentive Plan and 2023 Equity Incentive Plan as of immediately prior to the Effective Time, whether or not then vested, shall fully vest and be canceled and converted into the right to receive, as promptly as reasonably practicable after the Effective Time, an amount in cash, without interest, equal to the product of: (a) the aggregate number of shares of restricted stock, assuming that Company RSU with vesting requirements subject to performance goals have been met at the maximum level of performance, and (b) the Merger Consideration, less any taxes required to be withheld. The Merger Agreement contains various customary representations and warranties of the Company, Parent and Merger Sub. Many of the representations made by the Company are subject to and qualified by a Material Adverse Effect and/or Knowledge of the Company standard. The Company, Parent and Merger Sub have also made certain customary covenants in the Merger Agreement, including (a) covenants by the Company regarding the operation of its business and that of its Subsidiaries prior to the Effective Time and (b) a non-solicitation covenant prohibiting the Company, its Subsidiaries and their respective officers and directors from directly or indirectly facilitating or encouraging the submission of a Takeover Proposal, the making of a proposal that could be reasonably expected to lead to a Takeover Proposal or taking certain other restricted actions in connection therewith. Notwithstanding the foregoing, if, prior to the Offer Closing, the Company receives a bona fide unsolicited written Takeover Proposal that did not result from a material breach of the non-solicitation covenant and the Company’s board of directors (the “ Company Board ”) determines in good faith, after consulting with financial and legal advisors, that such proposal could reasonably constitute a Superior Proposal and that failure to take such action would reasonably be inconsistent with the directors’ fiduciary duties under applicable law, the Company may take certain actions to participate in discussions and negotiations and to furnish information with respect to such Takeover Proposal. The Company shall prepare and file a Solicitation/Recommendation Statement on Schedule 14D-9 a nd, subject to certain exceptions, the Company Board shall recommend that the stockholders accept the Offer and tender their Company Shares to Merger Sub pursuant to the Offer (the “ Company Board Recommendation ”) and not withdraw, amend, modify or qualify such Company Board Recommendation in a manner adverse to Parent or Merger Sub. However, subject to the satisfaction of certain terms and conditions, the Company and the Company Board, as applicable, are permitted to take certain actions which may, as more fully described in the Merger Agreement, include changing the Company Board Recommendation and entering into a definitive agreement with respect to a Superior Proposal (as defined in the Merger Agreement) if, among other things, the Company Board has concluded in good faith after consultation with its outside legal counsel that the failure to take such action would be inconsistent with the Company Board’s fiduciary duties under applicable law. The Merger Agreement contains certain customary termination rights for the Company and Parent, including, among others, the right of : (a) each of Company and Parent to terminate the Merger Agreement if the Offer Closing has not occurred on or before March 31, 2025, (b) the Company to terminate the Merger Agreement if, prior to the Offer Closing, the Company Board has authorized the Company to enter into a definitive agreement with respect to a Superior Proposal in compliance with the Company’s superior proposal covenants and the Company ultimately enters into a definitive agreement for such Superior Proposal, and (c) Parent to terminate the Merger Agreement, if prior to the Offer Closing, a Company Adverse Recommendation Change has occurred or the Company has intentionally breached or intentionally failed to perform its non-solicitation covenants in any material respect. Upon termination of the Merger Agreement pursuant to the termination rights described in clauses (b) and (c) of the immediately preceding paragraph, the Company will be required to pay Parent a termination fee of $4,375,000. The foregoing description of the Merger Agreement is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the Merger Agreement, which is filed as Exhibit 2.1 hereto and incorporated herein by reference. The Merger Agreement, and the foregoing description of the Merger Agreement, have been included to provide investors and our stockholders with information regarding the terms of the Merger. The assertions embodied in the representations, warranties and covenants contained in the Merger Agreement were made only for purposes of the Merger Agreement, were solely for the benefit of the parties to the Merger Agreement, and may be subject to limitations agreed upon by the contracting parties, including being qualified by information in a confidential disclosure letter provided by the Company to Parent in connection with the signing of the Merger Agreement. Moreover, certain representations and warranties in the Merger Agreement were made as of a specified date, may be subject to a contractual standard of materiality different from what might be viewed as material to stockholders, or may have been used for the purpose of allocating risk between the parties to the Merger Agreement. Accordingly, the representations and warranties in the Merger Agreement should not be relied on by any persons as characterizations of the actual state of facts and circumstances about the Company, Parent or Merger Sub at the time they were made or otherwise, and information in the Merger Agreement should be considered in conjunction with the entirety of the factual disclosure about the Company in the Company’s public reports filed with the U.S. Securities and Exchange Commission (the “ SEC ”). Information concerning the subject matter of the representations and warranties may change after the date of the Merger Agreement, which subsequent information may or may not be fully reflected in the Company’s public disclosures. Tender and Support Agreements Concurrently with the execution and delivery of the Merger Agreement, on October 28, 2024 Brenton Hatch (and certain of his affiliates), the Chairman of the Company Board, Ryan Oviatt, the Co-Chief Executive Officer and Chief Financial Officer of the Company, and Cameron Tidball, the Co-Chief Executive Officer of the Company (collectively, the “ Stockholders ”), will each enter into a Tender and Support Agreement (the “ Tender and Support Agreement ”) with Parent and Merger Sub. The Tender and Support Agreements provide, among other things, that the Stockholders will tender, or cause to be tendered, in the Offer (a) all of the Company Common Stock beneficially owned, as defined in Rule 13d-3 under the Securities and Exchange Act of 1934, as amended, by each Stockholder, respectively, as of the date of the Tender and Support Agreements and (b) all shares of Company Common Stock or other voting securities of the Company that are issued to or otherwise directly or indirectly acquired by and become owned by such Stockholder after the execution of the Tender and Support Agreement (clauses (a) and (b), the “ Owned Shares ”). By entering into the Tender and Support Agreements, the Stockholders also agreed to other customary terms and conditions, including certain restrictions on transferring their Owned Shares and issuing public statements or press releases. Each of the Stockholders’ respective obligations under the Tender and Support Agreement will automatically terminate upon the earliest to occur of (i) the termination of the Merger Agreement in accordance with it terms, (ii) the time of the Offer Closing, provided that each Stockholder has tendered all of its Owned Shares and complied with the covenants in the Tender and Support Agreement, (iii) the making of a Company Adverse Recommendation Change in accordance with the Merger Agreement, (iv) the entry of Parent or Merger Sub, without the prior written consent of the Stockholders, into any amendment or modification of the Merger Agreement that decreases the Offer Price or changes the form of Merger Consideration and (v) the termination of the Tender and Support Agreement by written notice from Parent and Merger Sub.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Pay vs Performance Disclosure
Net income	$ 2,182,637	$ 2,062,725	$ 1,434,375	$ 2,039,390	$ 2,857,157	$ 2,589,621	$ 5,679,737	$ 7,486,169

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ORGANIZATION AND SUMMARY OF S_2

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Recent Accounting Pronouncements	Accounting Standards Update No. 2023-07 —Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures The update is intended to improve reportable segment disclosure requirements through enhanced disclosures about significant segment expenses. The amendments require disclosure of significant segment expenses regularly provided to the chief operating decision maker (CODM) as well as other segment items, extend certain annual disclosures to interim periods, clarify the applicability to single reportable segment entities, permit more than one measure of profit or loss to be reported under certain conditions, and require disclosure of the title and position of the CODM. The new disclosures have been adopted in this report. See NOTE 10 – SEGMENT INFORMATION. Accounting Standards Update No. 2023-09 —Income Taxes (Topic 740): Improvements to Income Tax Disclosures The update requires the annual financial statements to include consistent categories and greater disaggregation of information in the rate reconciliation, and income taxes paid disaggregated by jurisdiction. ASU 2023-09 is effective for the Company’s annual reporting periods beginning after December 15, 2024, with early adoption permitted, and should be applied on a prospective basis, with a retrospective option. We are currently evaluating the effect that adoption of ASU 2023-09 will have on our disclosures. The Company has evaluated all other recent accounting pronouncements and determined that the adoption of other pronouncements applicable to the Company has not had, nor is 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 as well as other combustion related equipment. 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 September 30, 2024. 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)	9 Months Ended
	Sep. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories consisted of the following at each balance sheet date: As of September 30, 2024 December 31, 2023 Raw materials $ 306,725 $ 338,539 Finished goods 17,298,562 14,171,616 Subtotal 17,605,287 14,510,155 Reserve for obsolescence (416,631) (450,499) Total $ 17,188,656 $ 14,059,656

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	9 Months Ended
	Sep. 30, 2024
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Schedule of Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following at each balance sheet date: As of September 30, 2024 December 31, 2023 Prepaid inventory $ 2,373,895 $ 1,944,942 Accrued receivables 48,367 119,035 Prepaid insurance 456,886 351,273 Interest receivables 65,806 81,868 Other 434,696 335,144 Total $ 3,379,650 $ 2,832,262

ACCRUED LIABILITIES (Tables)

ACCRUED LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2024
Other Liabilities Disclosure [Abstract]
Schedule of Accrued Liabilities	Accrued liabilities consisted of the following at each balance sheet date: As of September 30, 2024 December 31, 2023 Employee-related payables $ 2,098,401 $ 2,910,801 Deferred revenue 725,527 780,428 Inventory-related payables 1,574,215 400,701 Tax-related payables 57,549 119,188 Warranty liabilities 102,071 108,930 Other 171,156 221,772 Total $ 4,728,919 $ 4,541,820

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2024
Leases [Abstract]
Schedule of Components of Lease Right-of-Use Assets and Liabilities	As of Components of lease right-of-use assets and liabilities September 30, 2024 December 31, 2023 Financing lease right-of-use assets $ 68,725 $ 106,402 Operating lease right-of-use assets 300,824 326,505 Total Lease right-of-use assets $ 369,549 $ 432,907 Financing current lease liability $ 36,304 $ 47,492 Operating current lease liability 100,435 82,692 Total Current lease liability $ 136,739 $ 130,184 Financing long-term lease liability $ 38,191 $ 63,393 Operating long-term lease liability 203,602 244,135 Total Long-term lease liability $ 241,793 $ 307,528
Schedule of Components of Financing Lease Cost	The following table shows the components of financing lease cost: For the Three Months Ended September 30, For the Nine Months Ended September 30, Financing Lease Cost 2024 2023 2024 2023 Amortization of right-of-use assets $ 12,559 $ 14,332 $ 37,677 $ 28,811 Interest on lease liabilities 2,358 4,438 7,960 6,226 Total financing lease cost $ 14,917 $ 18,770 $ 45,637 $ 35,037
Schedule of Maturities of Lease Liabilities	As of September 30, 2024, maturities of lease liabilities are as follows: Years ending December 31, Amount 2024 $ 40,961 2025 152,678 2026 123,768 2027 91,097 2028 — Thereafter — Total future minimum lease payments $ 408,504 Less: Amount representing interest 29,972 Present value of future payments $ 378,532 Current portion $ 136,739 Long-term portion $ 241,793

STOCKHOLDERS' EQUITY (Tables)

STOCKHOLDERS' EQUITY (Tables)	9 Months Ended
	Sep. 30, 2024
Equity [Abstract]
Schedule of Performance Metrics	The performance-vesting Units, including up to 136,434 Units for Mr. Oviatt, 136,434 Units for Mr. Tidball, and 24,130 Units to Mr. Fisher, may vest over a three-year performance period beginning January 1, 2024 (the “2024 LTIP Performance Period”) based upon the following Company performance metrics: Performance Metrics Weight Target Above Target Outstanding Total Shareholder Return (based on the Company’s closing price of its common stock at the end of the 2024 LTIP Performance Period relative to its closing price as of the last trading day in 2023) 1/3 26.0% 47.9% 77.5% 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 2024 LTIP Performance Period) 1/3 Third Quartile Second Quartile First Quartile EBITDA as a Percentage of Total Revenue 1/3 17.5% 20.0% 22.5% The performance-vesting Units, including up to 191,384 Units for Mr. Oviatt, 191,384 Units for Mr. Tidball, and 33,912 Units to Mr. Fisher, may vest over a three-year performance period beginning January 1, 2023 (the “2023 LTIP Performance Period”) based upon the following Company performance metrics: Performance Metrics Weight Target Above Target Outstanding Total Shareholder Return (based on the Company’s closing price of its common stock at the end of the 2023 LTIP Performance Period relative to its closing price as of the last trading day in 2022) 1/3 94.2% 142.7% 191.3% 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 2023 LTIP Performance Period) 1/3 Third Quartile Second Quartile First Quartile EBITDA as a Percentage of Total Revenue 1/3 15% 17.5% 20% 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-year performance period beginning January 1, 2022 (the "2022 LTIP Performance Period") based upon the following Company performance metrics: 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 2022 LTIP 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 2022 LTIP Performance Period) 1/3 Third Quartile Second Quartile First Quartile EBITDA as a Percentage of Total Revenue 1/3 10% 15% 20% 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, were 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%

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The table below shows revenue by category: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2024 2023 2024 2023 Electronics $ 6,004,186 $ 5,425,343 $ 16,963,841 $ 17,041,819 Manufactured 4,085,461 2,927,612 10,356,433 9,325,211 Re-Sell 5,927,577 5,732,073 15,114,750 15,195,905 Service 1,180,729 858,871 3,564,582 2,624,514 Total Revenue $ 17,197,953 $ 14,943,899 $ 45,999,606 $ 44,187,449

BASIC AND DILUTED EARNINGS PE_2

BASIC AND DILUTED EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2024
Earnings Per Share [Abstract]
Schedule of Earnings 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 September 30, 2024 2023 Income (Numerator) Weighted Average Shares (Denominator) Per-Share Income (Numerator) Weighted Average Shares (Denominator) Per-Share Basic EPS Net income available to common stockholders $ 2,182,637 46,809,342 $ 0.05 $ 2,039,390 47,521,238 $ 0.04 Effect of Dilutive Securities Stock options & RSUs — 1,930,558 — 1,982,786 Diluted EPS Net income available to common stockholders + assumed conversions $ 2,182,637 48,739,900 $ 0.04 $ 2,039,390 49,504,024 $ 0.04 For the Nine Months Ended September 30, 2024 2023 Loss (Numerator) Weighted Average Shares (Denominator) Per-Share Loss (Numerator) Weighted Average Shares (Denominator) Per-Share Basic EPS Net income available to common stockholders $ 5,679,737 46,937,404 $ 0.12 $ 7,486,169 47,364,445 $ 0.16 Effect of Dilutive Securities Stock options & RSUs — 1,930,558 — 1,949,859 Diluted EPS Net income available to common stockholders + assumed conversions $ 5,679,737 48,867,962 $ 0.12 $ 7,486,169 49,314,304 $ 0.15

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2024
Segment Reporting [Abstract]
Schedule of Segment Information for Geographic Areas	Segment information for these geographic areas is as follows: For the Three Months Ended September 30, For the Nine Months Ended September 30, Revenues 2024 2023 2024 2023 Revenue from external customers Canada $ 2,519,096 $ 2,252,176 $ 6,102,324 $ 6,438,528 United States 14,678,857 12,691,722 39,897,282 37,748,921 Inter-subsidiary revenue Canada 3,489,665 918,717 9,548,373 4,362,416 United States 3,502 4,356 7,175 7,626 Inter-subsidiary eliminations -3,493,167 -923,072 (9,555,547) (4,370,042) Total Revenue $ 17,197,953 $ 14,943,899 $ 45,999,606 $ 44,187,449 For the Three Months Ended September 30, For the Nine Months Ended September 30, Income from Operations 2024 2023 2024 2023 Canada $ 829,065 $ 142,537 $ 2,417,305 $ 1,441,373 United States 1,921,086 2,401,066 4,661,479 7,631,944 Total Income from Operations 2,750,152 2,543,603 7,078,784 9,073,317 Gain on sale of property and equipment 84,971 17,350 221,860 251,768 Other expense 8,973 19,718 (11,322) (26,704) Interest income 93,299 74,165 248,543 255,865 Interest expense (2,358) (4,438) (7,960) (6,226) Income before income taxes $ 2,935,037 $ 2,650,398 $ 7,529,905 $ 9,548,020 As of Long-Lived Assets September 30, 2024 December 31, 2023 Canada $ 4,906,495 $ 5,024,824 United States 6,793,767 6,190,455 Total Consolidated $ 11,700,262 $ 11,215,279

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 306,725	$ 338,539
Finished goods	17,298,562	14,171,616
Subtotal	17,605,287	14,510,155
Reserve for obsolescence	(416,631)	(450,499)
Total	$ 17,188,656	$ 14,059,656

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]
Prepaid inventory	$ 2,373,895	$ 1,944,942
Accrued receivables	48,367	119,035
Prepaid insurance	456,886	351,273
Interest receivables	65,806	81,868
Other	434,696	335,144
Total	$ 3,379,650	$ 2,832,262

ACCRUED LIABILITIES (Details)

ACCRUED LIABILITIES (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Other Liabilities Disclosure [Abstract]
Employee-related payables	$ 2,098,401	$ 2,910,801
Deferred revenue	725,527	780,428
Inventory-related payables	1,574,215	400,701
Tax-related payables	57,549	119,188
Warranty liabilities	102,071	108,930
Other	171,156	221,772
Total	$ 4,728,919	$ 4,541,820

LEASES - Schedule of Components

LEASES - Schedule of Components of Lease Right-of-Use Assets and Liabilities (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Leases [Abstract]
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total Lease right-of-use assets	Total Lease right-of-use assets
Financing lease right-of-use assets	$ 68,725	$ 106,402
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Total Lease right-of-use assets	Total Lease right-of-use assets
Operating lease right-of-use assets	$ 300,824	$ 326,505
Total Lease right-of-use assets	$ 369,549	$ 432,907
Finance Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total Current lease liability	Total Current lease liability
Financing current lease liability	$ 36,304	$ 47,492
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Total Current lease liability	Total Current lease liability
Operating current lease liability	$ 100,435	$ 82,692
Total Current lease liability	$ 136,739	$ 130,184
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total Long-term lease liability	Total Long-term lease liability
Financing long-term lease liability	$ 38,191	$ 63,393
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible Enumeration]	Total Long-term lease liability	Total Long-term lease liability
Operating long-term lease liability	$ 203,602	$ 244,135
Total Long-term lease liability	$ 241,793	$ 307,528

LEASES - Narrative (Details)

LEASES - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) lease	Sep. 30, 2023 USD ($)	Dec. 31, 2023
Lessee, Lease, Description [Line Items]
Finance leases, weighted average discount rate	7.50%		7.50%		4.50%
Finance leases, weighted average remaining lease term	2 years 1 month 6 days		2 years 1 month 6 days
Number of warehouses | lease			2
Operating leases, weighted average discount rate	7.50%		7.50%		4.50%
Operating leases, weighted average remaining lease term	3 years		3 years
Operating lease expense | $	$ 77,388	$ 15,081	$ 154,476	$ 52,285
Warehouse Space One
Lessee, Lease, Description [Line Items]
Term of contract	2 years		2 years
Warehouse Space Two
Lessee, Lease, Description [Line Items]
Term of contract	4 years		4 years
Minimum
Lessee, Lease, Description [Line Items]
Lease term	36 months		36 months
Maximum
Lessee, Lease, Description [Line Items]
Lease term	60 months		60 months

LEASES - Schedule of Componen_2

LEASES - Schedule of Components of Financing Lease Cost (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Leases [Abstract]
Amortization of right-of-use assets	$ 12,559	$ 14,332	$ 37,677	$ 28,811
Interest on lease liabilities	2,358	4,438	7,960	6,226
Total financing lease cost	$ 14,917	$ 18,770	$ 45,637	$ 35,037

LEASES - Schedule of Maturities

LEASES - Schedule of Maturities of Lease Liabilities (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Years ending December 31,
2024	$ 40,961
2025	152,678
2026	123,768
2027	91,097
2028	0
Thereafter	0
Total future minimum lease payments	408,504
Less: Amount representing interest	29,972
Present value of future payments	378,532
Current portion	136,739	$ 130,184
Long-term portion	$ 241,793	$ 307,528

STOCKHOLDERS' EQUITY - Narrativ

STOCKHOLDERS' EQUITY - Narrative (Details)								9 Months Ended
	Jun. 12, 2024 USD ($) shares	Apr. 09, 2024 installment agreement performanceMetric shares	Mar. 06, 2024 shares	Jun. 29, 2023 USD ($) shares	Apr. 25, 2023 agreement installment performanceMetric shares	Apr. 06, 2022 installment performanceMetric agreement shares	May 28, 2021 agreement installment metric shares	Sep. 30, 2024 USD ($) shares	May 22, 2024 USD ($)	Dec. 31, 2023 USD ($) shares	May 09, 2023 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Treasury stock (in shares)								7,308,398		6,243,363
Treasury stock, at cost | $								$ 10,976,706		$ 9,324,272
Authorized shares, amount | $									$ 2,000,000		$ 2,000,000
Compensation expense | $								$ 923,136
Compensation expense recognition period								1 year 6 months
2024 EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Target payout percentage		200%
Incentive compensation weight (in percent)		0.30
Safety and environment percentage weight		10%
Percentage of bonus paid in cash		50%
Percentage of bonus paid in stock		50%
2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares issued per unit vested		1
Number of performance metrics | performanceMetric		3
2024 LTIP | Below Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric		0%
2024 LTIP | Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric		50%
2024 LTIP | Above Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric		75%
2024 LTIP | Outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric		100%
2023 EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Incentive compensation weight (in percent)					0.30
Safety and environment percentage weight					10%
Percentage of bonus paid in cash					50%
Percentage of bonus paid in stock					50%
Stock issued in settlement of RSUs and accrued bonuses (in shares)			225,698
Shares net of tax withholding			121,624
2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares issued per unit vested					1
Number of performance metrics | performanceMetric					3
2023 LTIP | Below Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric					0%
2023 LTIP | Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric					50%
2023 LTIP | Above Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric					75%
2023 LTIP | Outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric					100%
2022 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares issued per unit vested						1
Number of performance metrics | performanceMetric						3
2022 LTIP | Below Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric						0%
2022 LTIP | Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric						50%
2022 LTIP | Above Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric						75%
2022 LTIP | Outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric						100%
2021 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of common shares issued per unit vested							1
Number of performance metrics | metric							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 | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric		33%
Tranche One | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric					33%
Tranche One | 2022 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric						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 | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric		67%
Tranche Two | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric					67%
Tranche Two | 2022 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric						67%
Tranche Two | 2021 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of award covered by metric							67%
Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units outstanding (in shares)								881,222
Compensation expense | $	$ 264,000			$ 243,000
Number of shares granted (shares)	192,699			195,966
Award vesting percentage				50%
Restricted Stock Units | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock unit award agreements | agreement		2
Restricted Stock Units | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock unit award agreements | agreement					2
Restricted Stock Units | 2022 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of restricted stock unit award agreements | agreement						2
Restricted Stock Units | Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50%
Restricted Stock Units | Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage	50%
Award vesting period	1 year
Performance Shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Units outstanding (in shares)								1,049,336
Performance Shares | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage					33.33%
Award vesting period		3 years
Performance Shares | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage					33.33%
Award vesting period					3 years
Performance Shares | 2022 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage						33.33%
Award vesting period						3 years
Performance Shares | 2021 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting percentage							33.33%
Award vesting period							3 years
Common stock issued (in shares)			152,354
Common stock issued, after tax (in shares)			80,059
Employee Stock Option
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options outstanding (in shares)								0
Chief Financial Officer | 2024 EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of salary		0.65
Chief Financial Officer | Restricted Stock Units | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		204,651
Chief Financial Officer | Restricted Stock Units | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					287,076
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
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 | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		136,434
Chief Financial Officer | Performance Shares | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					191,384
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
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 | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		45,477
Chief Financial Officer | Performance Shares | Tranche One | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					63,794
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
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 | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		68,217
Chief Financial Officer | Time-based Units | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					95,692
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
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
Chief Business Development Officer | 2024 EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of salary		0.65
Chief Business Development Officer | Restricted Stock Units | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		204,651
Chief Business Development Officer | Restricted Stock Units | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					287,076
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
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
Number of restricted stock unit award agreements | agreement							2
Chief Business Development Officer | Performance Shares | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		136,434
Chief Business Development Officer | Performance Shares | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					191,384
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
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 | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		45,477
Chief Business Development Officer | Performance Shares | Tranche One | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					63,794
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
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 | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		68,217
Chief Business Development Officer | Time-based Units | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					95,692
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
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 Production Development | 2024 EIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of salary		0.40
Vice President of Production Development | Restricted Stock Units | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		36,195
Vice President of Production Development | Restricted Stock Units | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					50,868
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
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 | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		24,130
Vice President of Production Development | Performance Shares | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					33,912
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
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 | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		8,043
Vice President of Production Development | Performance Shares | Tranche One | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					11,304
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
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 | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		12,065
Annual installment period | installment		3
Vice President of Production Development | Time-based Units | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)					16,956
Annual installment period | installment					3
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
Annual installment period | installment						3
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
Annual installment period | installment							3
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

STOCKHOLDERS' EQUITY - Schedule

STOCKHOLDERS' EQUITY - Schedule of Performance Metrics (Details) - shares	Apr. 09, 2024	Apr. 25, 2023	Apr. 06, 2022	May 28, 2021
Performance Shares | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period	3 years
Performance Shares | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Performance Shares | 2022 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Performance Shares | 2021 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period				3 years
Chief Financial Officer | Performance Shares | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)	136,434
Chief Financial Officer | Performance Shares | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		191,384
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
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 Business Development Officer | Performance Shares | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)	136,434
Chief Business Development Officer | Performance Shares | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		191,384
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
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
Vice President of Production Development | Performance Shares | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)	24,130
Vice President of Production Development | Performance Shares | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)		33,912
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
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 Operations | Performance Shares | 2021 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares granted (shares)				57,272
Weight | 2024 LTIP
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%
Weight | 2023 LTIP
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%
Weight | 2022 LTIP
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%
Weight | 2021 LTIP
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				135%
Performance metric percentage, EBITDA				10%
Target | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return	26%
Performance metric percentage, relative total shareholder return	75%
Performance metric percentage, EBITDA	17.50%
Target | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return		94.20%
Performance metric percentage, relative total shareholder return		75%
Performance metric percentage, EBITDA		15%
Target | 2022 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return			89%
Performance metric percentage, relative total shareholder return			75%
Performance metric percentage, EBITDA			10%
Target | 2021 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, relative total shareholder return				75%
Above Target
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return				194%
Performance metric percentage, EBITDA				15%
Above Target | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return	47.90%
Performance metric percentage, relative total shareholder return	50%
Performance metric percentage, EBITDA	20%
Above Target | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return		142.70%
Performance metric percentage, relative total shareholder return		50%
Performance metric percentage, EBITDA		17.50%
Above Target | 2022 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return			136%
Performance metric percentage, relative total shareholder return			50%
Performance metric percentage, EBITDA			15%
Above Target | 2021 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, relative total shareholder return				50%
Outstanding
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return				253%
Performance metric percentage, EBITDA				20%
Outstanding | 2024 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return	77.50%
Performance metric percentage, relative total shareholder return	25%
Performance metric percentage, EBITDA	22.50%
Outstanding | 2023 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return		191.30%
Performance metric percentage, relative total shareholder return		25%
Performance metric percentage, EBITDA		20%
Outstanding | 2022 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, total shareholder return			183%
Performance metric percentage, relative total shareholder return			25%
Performance metric percentage, EBITDA			20%
Outstanding | 2021 LTIP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Performance metric percentage, relative total shareholder return				25%

REVENUE - Narrative (Details)

REVENUE - Narrative (Details)	9 Months Ended
	Sep. 30, 2024
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 - Schedule of Disaggreg

REVENUE - Schedule of Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Disaggregation of Revenue [Line Items]
Total Revenue	$ 17,197,953	$ 14,943,899	$ 45,999,606	$ 44,187,449
Electronics
Disaggregation of Revenue [Line Items]
Total Revenue	6,004,186	5,425,343	16,963,841	17,041,819
Manufactured
Disaggregation of Revenue [Line Items]
Total Revenue	4,085,461	2,927,612	10,356,433	9,325,211
Re-Sell
Disaggregation of Revenue [Line Items]
Total Revenue	5,927,577	5,732,073	15,114,750	15,195,905
Service
Disaggregation of Revenue [Line Items]
Total Revenue	$ 1,180,729	$ 858,871	$ 3,564,582	$ 2,624,514

BASIC AND DILUTED EARNINGS PE_3

BASIC AND DILUTED EARNINGS PER SHARE (Details) - USD ($)	3 Months Ended						9 Months Ended
	Sep. 30, 2024	Jun. 30, 2024	Mar. 31, 2024	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2024	Sep. 30, 2023
Income (Numerator)
Net income available to common stockholders	$ 2,182,637	$ 2,062,725	$ 1,434,375	$ 2,039,390	$ 2,857,157	$ 2,589,621	$ 5,679,737	$ 7,486,169
Stock options & RSUs	0			0			0	0
Net income available to common stockholders + assumed conversions	$ 2,182,637			$ 2,039,390			$ 5,679,737	$ 7,486,169
Weighted Average Shares (Denominator)
Net income available to common stockholders (in shares)	46,809,342			47,521,238			46,937,404	47,364,445
Stock options & RSUs (in shares)	1,930,558			1,982,786			1,930,558	1,949,859
Net income available to common stockholders + assumed conversions (in shares)	48,739,900			49,504,024			48,867,962	49,314,304
Per-Share Amount
Net income available to common stockholders (in dollars per share)	$ 0.05			$ 0.04			$ 0.12	$ 0.16
Net income available to common stockholders + assumed conversions (in dollars per share)	$ 0.04			$ 0.04			$ 0.12	$ 0.15

SEGMENT INFORMATION (Details)

SEGMENT INFORMATION (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2024 USD ($)	Sep. 30, 2023 USD ($)	Sep. 30, 2024 USD ($) segment	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($)
Segment Reporting [Abstract]
Number of operating segments | segment			1
Segment Reporting Information [Line Items]
Revenues	$ 17,197,953	$ 14,943,899	$ 45,999,606	$ 44,187,449
Income from Operations
Total Income from Operations	2,750,152	2,543,603	7,078,784	9,073,317
Gain on sale of property and equipment	84,971	17,350	221,860	251,768
Other expense	8,973	19,718	(11,322)	(26,704)
Interest income	93,299	74,165	248,543	255,865
Interest expense	(2,358)	(4,438)	(7,960)	(6,226)
INCOME BEFORE INCOME TAXES	2,935,037	2,650,398	7,529,905	9,548,020
Long-Lived Assets	11,700,262		11,700,262		$ 11,215,279
Inter-subsidiary eliminations
Segment Reporting Information [Line Items]
Revenues	(3,493,167)	(923,072)	(9,555,547)	(4,370,042)
Canada
Income from Operations
Total Income from Operations	829,065	142,537	2,417,305	1,441,373
Long-Lived Assets	4,906,495		4,906,495		5,024,824
Canada | Operating Segments
Segment Reporting Information [Line Items]
Revenues	2,519,096	2,252,176	6,102,324	6,438,528
Canada | Inter-subsidiary eliminations
Segment Reporting Information [Line Items]
Revenues	3,489,665	918,717	9,548,373	4,362,416
United States
Income from Operations
Total Income from Operations	1,921,086	2,401,066	4,661,479	7,631,944
Long-Lived Assets	6,793,767		6,793,767		$ 6,190,455
United States | Operating Segments
Segment Reporting Information [Line Items]
Revenues	14,678,857	12,691,722	39,897,282	37,748,921
United States | Inter-subsidiary eliminations
Segment Reporting Information [Line Items]
Revenues	$ 3,502	$ 4,356	$ 7,175	$ 7,626

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Details) $ / shares in Units, $ in Thousands	Oct. 28, 2024 USD ($) extensionPeriod $ / shares	Sep. 30, 2024 $ / shares	Dec. 31, 2023 $ / shares
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)		$ 0.001	$ 0.001
Subsequent Event | CECO Environmental Corp., Merger Agreement
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)	$ 0.001
Common stock, offer price (in dollars per share)	$ 2.55
Open offer term	20 days
Number of term extensions | extensionPeriod	3
Term per extension period	10 days
Termination fee | $	$ 4,375