Pioneer Power Solutions (PPSI) 10-K 29 Mar 19 2018 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Mar. 29, 2019	Jun. 30, 2018
Document And Entity Information
Entity Registrant Name	PIONEER POWER SOLUTIONS, INC.
Entity Central Index Key	0001449792
Document Type	10-K
Trading Symbol	PPSI
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Well-known Season Issuer	No
Entity Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Public Float			$ 24,600
Entity Common Stock, Shares Outstanding		8,726,045
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2018

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Revenues	$ 106,390	$ 114,391
Cost of goods sold
Cost of goods sold	87,139	95,779
Restructuring and integration		873
Total cost of goods sold	87,139	96,652
Gross profit	19,251	17,739
Operating expenses
Selling, general and administrative	21,465	21,158
Restructuring and integration		219
Foreign exchange gain	(341)	(325)
Total operating expenses	21,124	21,052
Operating loss	(1,873)	(3,313)
Interest expense	2,662	2,462
Other expense	826	411
Loss before taxes	(5,361)	(6,186)
Income tax expense	303	3,039
Net loss	$ (5,664)	$ (9,225)
Net loss per common share:
Basic (in dollars per share)	$ (0.65)	$ (1.06)
Diluted (in dollars per share)	$ (0.65)	$ (1.06)
Weighted average common shares outstanding:
Basic (in shares)	8,726	8,717
Diluted (in shares)	8,726	8,717

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income Statement [Abstract]
Net loss	$ (5,664)	$ (9,225)
Other comprehensive (loss) income
Foreign currency translation adjustments	(161)	174
Amortization of net prior service costs and net actuarial losses, net of tax	62	(108)
Other comprehensive (loss) income	(99)	66
Comprehensive loss	$ (5,763)	$ (9,159)

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 211	$ 218
Accounts receivable, net	16,327	15,000
Inventories, net	27,310	26,113
Income taxes receivable	566	743
Prepaid expenses and other current assets	2,510	3,017
Total current assets	46,924	45,091
Property, plant and equipment, net	5,284	6,858
Deferred income taxes	2,971	2,729
Other assets	5,222	4,651
Intangible assets, net	3,584	6,399
Goodwill	8,527	8,527
Total assets	72,512	74,255
Current liabilities
Bank overdrafts	1,769	1,181
Revolving credit facilities	20,755	17,814
Short term borrowings		5,430
Accounts payable and accrued liabilities	27,845	20,381
Current maturities of long-term debt and capital lease obligations	1,174	782
Income taxes payable	873	1,164
Total current liabilities	52,416	46,752
Long-term debt, net of current maturities	2,619	4,153
Pension deficit	148	283
Other long-term liabilities	3,786	3,853
Deferred income taxes	1,592	1,665
Total liabilities	60,561	56,706
Stockholders' equity
Preferred stock, $0.001 par value, 5,000,000 shares authorized; none issued
Common stock, $0.001 par value, 30,000,000 shares authorized; 8,726,045 shares issued and outstanding on December 31, 2018 and 2017	9	9
Additional paid-in capital	23,966	23,801
Accumulated other comprehensive loss	(5,897)	(5,798)
Accumulated deficit	(6,127)	(463)
Total stockholders' equity	11,951	17,549
Total liabilities and stockholders' equity	$ 72,512	$ 74,255

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, issued	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, authorized	30,000,000	30,000,000
Common stock, issued	8,726,045	8,726,045
Common stock, outstanding	8,726,045	8,726,045

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Operating activities
Net loss	$ (5,664)	$ (9,225)
Depreciation	1,222	1,285
Amortization of intangible assets	1,460	1,774
Amortization of right-of-use assets	622	535
Amortization of debt issuance cost	75	205
Deferred income tax (benefit) expense	(329)	2,201
Change in receivable reserves	(350)	239
Change in inventory reserves	241	(102)
Inventory write off		2,642
Accrued pension	(55)	(8)
Stock-based compensation	165	466
Loss on disposition of fixed assets	21	40
Intangible asset impairment	1,350
Goodwill impairment		1,445
Foreign currency remeasurement loss (gain)	42	(27)
Changes in current operating assets and liabilities:
Accounts receivable	(1,373)	2,594
Inventories	(2,118)	(1,975)
Prepaid expenses and other assets	(708)	(256)
Income taxes	(93)	(923)
Accounts payable and accrued liabilities	7,645	790
Net cash provided by operating activities	2,153	1,700
Investing activities
Additions to property, plant and equipment	(589)	(1,450)
Proceeds from sale of fixed assets	762	22
Net cash provided by (used in) investing activities	173	(1,428)
Financing activities
Bank overdrafts	699	(61)
Short term borrowings	(5,430)	1,457
Borrowing under debt agreement	40,599	40,481
Repayment of debt	(38,848)	(40,993)
Payment of debt issuance cost	(18)	(61)
Net proceeds from the exercise of options for common stock		120
Principal repayments of financing leases	(414)	(301)
Net cash (used in) provided by financing activities	(3,412)	642
(Decrease) Increase in cash and cash equivalents	(1,086)	914
Effect of foreign exchange on cash and cash equivalents	1,079	(942)
Cash and cash equivalents
Beginning of period	218	246
End of period	211	218
Supplemental cash flow information:
Interest paid	2,603	2,087
Income taxes paid, net of refunds	$ 587	$ 1,725

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($) $ in Thousands	Common Stock [Member]	Additional paid-in capital [Member]	Accumulated other comprehensive income (loss) [Member]	Accumulated deficit/Retained earnings [Member]	Total
Balance at Dec. 31, 2016	$ 9	$ 23,215	$ (5,863)	$ 8,838	$ 26,199
Balance (in shares) at Dec. 31, 2016	8,699,712
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss				(9,225)	(9,225)
Stock-based compensation		466			466
Foreign currency translation adjustment			173		173
Pension adjustment, net of taxes			(108)		(108)
Cumulative adjustment from adoption of accounting standard at Dec. 31, 2016				(76)	(76)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock		120			120
Issuance of common stock (in shares)	26,333
Balance at Dec. 31, 2017	$ 9	23,801	(5,798)	(463)	$ 17,549
Balance (in shares) at Dec. 31, 2017	8,726,045				8,726,045
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss				(5,664)	$ (5,664)
Stock-based compensation		165			165
Foreign currency translation adjustment			(161)		(161)
Pension adjustment, net of taxes			62		62
Balance at Dec. 31, 2018	$ 9	$ 23,966	$ (5,897)	$ (6,127)	$ 11,951
Balance (in shares) at Dec. 31, 2018	8,726,045				8,726,045

BASIS OF PRESENTATION

BASIS OF PRESENTATION	12 Months Ended
	Dec. 31, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION	1. BASIS OF PRESENTATION Pioneer Power Solutions, Inc. and its wholly owned subsidiaries (referred to herein as the “Company,” “Pioneer,” “we,” “our” and “us”) manufacture, sell and service a broad range of specialty electrical transmission, distribution and on-site power generation equipment for applications in the utility, industrial, commercial and backup power markets. The Company is headquartered in Fort Lee, New Jersey and operates from eleven (11) additional locations in the U.S., Canada and Mexico for manufacturing, centralized distribution, engineering, sales and administration. NASDAQ Listing On September 24, 2013, the Company completed an underwritten public offering of 1,265,000 shares of its common stock at a gross sales price of $7.00 per share, resulting in net proceeds to the Company of approximately $7.9 million, after deducting underwriting discounts and commissions and other offering expenses. In connection with the public offering, the Company’s common stock began trading on the Nasdaq Capital Market under the symbol PPSI. Segments In determining operating and reportable segments in accordance with ASC 280, Segment Reporting (“ASC 280”), the Company concluded that it has two reportable segments, which are also our operating segments: Transmission & Distribution Solutions (“T&D Solutions”) and Critical Power Solutions. Financial information about the Company’s segments is presented in Note 16 – Business Segment, Geographic and Customer Information. Reversal of Discontinued Operations During the fourth quarter of 2017, as part of its review of strategic alternatives, the Company made the decision to sell its switchgear business operated by Pioneer Custom Electric Products, Inc., which is part of T&D Solutions segment. On May 2, 2018, Pioneer Custom Electric Products, Inc, a wholly owned subsidiary of Pioneer Power Solutions, Inc., entered into an Asset Purchase Agreement with CleanSpark, Inc. (“CleanSpark”), pursuant to which PCEP was to sell certain assets comprising the PCEP business to CleanSpark. The Company had agreed to extend the closing of the sale through December 31, 2018 to allow all parties additional time to satisfy all closing conditions. On December 27, 2018, each of PCEP and CleanSpark signed a third letter agreement (the “Letter Agreement”) which further extended the Termination Date to January 16, 2019. On January 22, 2019, the Company and CleanSpark executed a merger agreement whereby Pioneer Critical Power, Inc., a wholly owned subsidiary of the Company, was sold to CleanSpark. On January 22, 2019, PCEP and CleanSpark terminated the Asset Purchase Agreement by mutual written agreement. The Company had previously presented the operations of PCEP as discontinued operations for all periods presented in its annual report on Form 10-K for the year ended December 31, 2017. Due to the change of the circumstances as described above, the Company is presenting the results of PCEP within continuing operations and including results of the switchgear reporting unit in the T&D Solutions Segment for all periods presented in the financial statements as of December 31, 2018. As circumstances allow, the Company will pursue the sale of PCEP. Liquidity The accompanying financial statements have been prepared on a basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. As shown in the accompanying financial statements during year ended December 31, 2018, the Company incurred net losses of $5.7 million, has an accumulated deficit of $6.2 million, and has a working capital deficit of $5.5 million. At December 31, 2018, we had total debt of $26.3 million and $0.2 million of cash and cash equivalents on hand. We have historically met our cash needs through a combination of cash flows from operating activities and bank borrowings under our revolving credit facilities. Our cash requirements are generally for operating activities, debt repayment, capital improvements and acquisitions. In addition, as further discussed in Note 10 our credit facilities maturity dates have been extended until April 1, 2020. The financial statements included in this annual report have been prepared assuming that we will continue as a going concern, which contemplates the recoverability of assets and the satisfaction of liabilities in the normal course of business. Significant assumptions underlie this belief, including, among other things, that there will be no material adverse developments in our business, liquidity, capital requirements and that our credit facilities with our lender will remain available to us and will not need to be replaced. Management believes that its capital resources are adequate to fund operations through the first quarter of 2020, but the Company is dependent on its agreement with BMO to meet its working capital obligations. The Company has certain credit arrangements with its lender that contain subjective acceleration clauses and the Company has had several instances of non-compliance with certain of the covenants included in such facilities. Management has historically been able to obtain from its lender waivers of any non-compliance and management believes that it will be able to continue to obtain necessary waivers in the event of future non-compliance, however there can be no guarantees and should the lender not provide a waiver in the future, the debt could become due immediately. Additionally, operations of the Company are subject to certain risks and uncertainties, including, among others, uncertainty of commercial manufacturing at acceptable margins, marketing or sales acceptance, and dependence on key personnel. Rounding All dollar amounts (except share and per share data) presented are stated in thousands of dollars, unless otherwise noted. Amounts may not foot due to rounding.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES General The preparation of consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation. Reclassifications Certain reclassifications have been made in prior years’ financial statements to conform to the presentation used in the current year. These reclassifications have not resulted in any changes to the previously reported net income for any year. Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The financial statements include estimates based on currently available information and management’s judgment as to the outcome of future conditions and circumstances. Significant estimates in these financial statements include allowance for doubtful accounts receivable, inventory provision, useful lives and impairment of long-lived assets, income tax provision, goodwill impairment, cost of pension benefits and estimates related to purchase price allocation. Changes in the status of certain facts or circumstances could result in material changes to the estimates used in the preparation of the financial statements and actual results could differ from the estimates and assumptions. Revenue Recognition Revenue is recognized when (1) a contract with a customer exists, (2) performance obligations promised in a contract are identified based on the products or services that will be transferred to the customer, (3) the transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring products or services to the customer, (4) the transaction price is allocated to the performance obligations in the contract and (5) the Company satisfies performance obligations. Substantially all of our revenue is recognized at a point of time, as the promised product passes to the customer. Service revenues include maintenance contracts that are recognized over time based on the contract term and repair services which are recognized as services are delivered. Cost of Goods Sold Cost of goods sold for the T&D Solutions and Critical Power segments primarily includes charges for materials, direct labor and related benefits, freight (inbound and outbound), direct supplies and tools, purchasing and receiving costs, inspection costs, internal transfer costs, warehousing costs and utilities related to production facilities and, where appropriate, an allocation of overhead. Cost of goods sold for Critical Power Solutions also includes indirect labor and infrastructure cost related to the provision of field services. Financial Instruments The Company’s financial instruments consist primarily of cash and cash equivalents, receivables, payables and debt instruments. The carrying values of these financial instruments approximate their respective fair values as they are either short - Cash and Cash Equivalents Cash and cash equivalents comprise cash on hand, demand deposits and investments with an original maturity at the date of purchase of three months or less. Accounts Receivable The Company accounts for trade receivables at original invoice amount less an estimate made for doubtful receivables based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history and current economic conditions. The Company writes off trade receivables when they are deemed uncollectible. The Company records recoveries of trade receivables previously written off when it receives them. Management considers the Company’s allowance for doubtful accounts, which was $0.2 and $0.5 million as of December 31, 2018 and 2017, respectively, sufficient to cover any exposure to loss in its accounts receivable. Long-Lived Assets Depreciation and amortization for property, plant and equipment, and finite life intangible assets, is computed and included in cost of goods sold and in selling and administrative expense, as appropriate. Long-lived assets, consisting primarily of property, plant and equipment, are stated at cost less accumulated depreciation. Property, plant and equipment are depreciated using the straight line method, based on the estimated useful lives of the assets (buildings – 25 years, machinery and equipment - 5 to 15 years, computer hardware and software - 3 to 5 years, furniture & fixtures 5 to 7 years, leasehold improvements – term of lease). Depreciation commences in the year the assets are ready for their intended use. As a convention, in the initial year an asset is placed in service, the Company takes one half year of depreciation. Finite life intangible assets consist primarily of customer relationships in multiple categories that are specific to the businesses acquired and for which estimated useful lives were determined based on actual historical customer attrition rates. The Company’s other finite life intangible assets consist of non-compete agreements, which have defined terms, certain trademarks which the Company has elected to gradually discontinue, and internally-developed software. These finite life intangible assets are amortized by the Company over periods ranging from four to ten years. The Company accelerated and fully amortized the distributor territory license intangible asset upon the termination of its distribution agreement with a supplier during the year ended December 31, 2017. Long-lived assets and finite life intangible assets are reviewed for impairment whenever events or circumstances have occurred that indicate the remaining useful life of the asset may warrant revision or that the remaining balance of the asset may not be recoverable. Upon indications of impairment, or in the normal course of annual testing, assets and liabilities are grouped at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The measurement of possible impairment is generally estimated by the ability to recover the balance of an asset group from its expected future operating cash flows on an undiscounted basis. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value thereof. Determining asset groups and underlying cash flows requires the use of significant judgment. Goodwill and Indefinite Life Intangible Assets Goodwill was generated through the acquisitions made by the Company between 2010 and 2015. As the total consideration paid exceeded the value of the net assets acquired, the Company recorded goodwill for each of the completed acquisitions. At the date of acquisition, the Company performed a valuation to determine the value of the intangible assets, and the allocation of the purchase price to the assets and liabilities acquired. The goodwill is attributable to synergies and economies of scale provided to us by the acquired entity. The Company tests its goodwill and indefinite-lived intangible asset for impairment at least annually (as of October 1) and whenever events or circumstances change that indicate impairment may have occurred. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in the Company’s expected future cash flows; a sustained, significant decline in the Company’s stock price and market capitalization; a significant adverse change in legal factors or in the business climate of its segments; unanticipated competition; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of goodwill, the indefinite-lived intangible assets and the Company’s consolidated financial results. As described in Note 9, the company recorded impairment charges of $870, $377 and $103 against technology-related industry accreditation, customer relationships and non-complete agreements, respectively, in 2018 and $1,445 against goodwill in 2017. The Company tests its goodwill for impairment at the reporting unit level, which is an operating segment or a segment that is one level below its operating segments. An operating segment is defined by ASC 280-10-50 as a component of an enterprise that earns revenue and incurs expenses, of which discrete financial information is available. The goodwill has been assigned to the reporting unit to which the value relates. Two of the Company’s four reporting units have goodwill. The Company tests goodwill by estimating the fair value of the reporting unit using a discounted cash flow model and other valuation techniques, but may elect to perform a qualitative analysis. A quantitative analysis is used to determine an estimated fair value representing the amount at which a reporting unit could be bought or sold in a current transaction between willing parties on an arms-length basis. The estimated fair value of each reporting unit is derived using a discounted cash flow method based on market and reporting unit-specific assumptions, including estimated future revenues and expenses, weighted average cost of capital, capital expenditures, the useful life over which cash flows will occur and other assumptions which are considered reasonable and inherent in discounted cash flow analysis. A qualitative analysis is performed by assessing certain trends and factors, including projected market outlook and growth rates, forecasted and actual sales and operating profit margins, discount rates, industry data and other relevant qualitative factors. These trends and factors are compared to, and based on, the assumptions used in the most recent quantitative assessment. Indefinite life intangible assets consist primarily of trademarks. The fair value of these assets are determined using a royalty relief methodology of the income approach similar to that employed when the associated assets were acquired, but using updated estimates of future sales, cash flows and profitability. The royalty relief methodology isolates the revenues derived from the use of the intangible asset, applies an appropriate pretax royalty rate to the revenues, deducts income taxes, discounts the cash flow over the projection period to present value using an appropriate discount rate and adds the present value of the tax shield. Foreign Currency Translation The functional currency for the Companies foreign subsidiaries is the local currency in which the entity is located. The financial statements of all subsidiaries with a functional currency other than the U.S. dollar have been translated into U.S. dollars. All assets and liabilities of foreign operations are translated into U.S. dollars using year-end exchange rates, and all revenues and expenses are translated at weighted average rates during the respective period. The U.S. dollar results that arise from such translation, as well as exchange gains and losses on intercompany balances of a long-term investment nature, are included in the cumulative currency translation adjustments in accumulated other comprehensive income in stockholders’ equity. Gains and losses resulting from foreign currency transactions are included in earnings. Income Taxes The Company accounts for income taxes under the asset and liability method, based on the income tax laws and rates in the countries in which operations are conducted and income is earned. This approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. Developing the provision for income taxes requires significant judgment and expertise in federal, international and state income tax laws, regulations and strategies, including the determination of deferred tax assets and liabilities and, if necessary, any valuation allowances that may be required for deferred tax assets. The Company records a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not to be realized. The Company believes that the deferred tax asset recorded as of December 31, 2018 and 2017 is realizable through future reversals of existing taxable temporary differences and future taxable income. If the Company was to subsequently determine that it would be able to realize deferred tax assets in the future in excess of its net recorded amount, an adjustment to deferred tax assets would increase net income for the period in which such determination was made. The Company will continue to assess the adequacy of the valuation allowance on a quarterly basis. The Company’s judgments and tax filings are subject to audit by various taxing authorities. The objective of accounting for income taxes is to recognize the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences or events that have been recognized in the Company’s financial statements or tax returns. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position (see “Unrecognized Tax Benefits” below). Income tax related interest and penalties are grouped with interest expense on the consolidated statement of operations. Unrecognized Tax Benefits The Company accounts for unrecognized tax benefits in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) “Income Taxes” (“ASC 740”). ASC 740 prescribes a recognition threshold that a tax position is required to meet before being recognized in the financial statements and provides guidance on de-recognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition issues. ASC 740 contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon ultimate settlement with a taxing authority, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. Additionally, ASC 740 requires the Company to accrue interest and related penalties, if applicable, on all tax positions for which reserves have been established consistent with jurisdictional tax laws. See Note 14 ‒ Income Taxes. Share-Based Payments The Company accounts for share based payments in accordance with the provisions of FASB ASC 718 “Compensation – Stock Compensation” and accordingly recognizes in its financial statements share based payments at their fair value. In addition, it recognizes in the financial statements an expense based on the grant date fair value of stock options granted to employees and directors. The expense is recognized on a straight line basis over the expected option life while taking into account the vesting period and the offsetting credit is recorded in additional paid-in capital. Upon exercise of options, the consideration paid together with the amount previously recorded as additional paid-in capital is recognized as capital stock. The Company estimates its forfeiture rate in order to determine its compensation expense arising from stock based awards. The Company uses the Black-Scholes Merton option pricing model to determine the fair value of the options. Non-employee members of the Board of Directors are deemed to be employees for the purposes of recognizing share-based compensation expense. Employee Benefit Plan The Company sponsors a defined benefit plan as described in Note 15 ‒ Pension Plan. The cost of pension benefits earned by employees is actuarially determined using the accumulated benefit method and a discount rate, used to measure interest cost on the accrued employee future benefit obligation, based on market interest rates on high-quality debt instruments with maturities that match the timing and benefits expected to be paid by the plan. Plan assets are valued using current market values and the expected return on plan assets is based on the net asset value of the plan assets. The costs that relate to employee current service are charged to income annually. The transitional obligation created upon adoption of the FASB ASC 715 “Compensation – Retirement Benefits” is amortized over the average remaining service period of employees. For a given year, unrecognized actuarial gains or losses are recognized into income if the unamortized balance at the beginning of the year is more than 10% of the greater of the plan asset or liability balance. Any unrecognized actuarial gain or loss in excess of this threshold is recognized in income over the remaining service period of the employees. The Company reflects the funded status of its defined pension plans as a net asset or net liability in its balance sheet, with an offsetting amount in accumulated other comprehensive income, and recognizes changes in that funded status in the year in which the changes occur through comprehensive income. Inventories Inventories are stated at the lower of cost or net realizable value using first-in, first-out (FIFO) or weighted-average methods and include the cost of materials, labor and manufacturing overhead. The Company uses estimates in determining the level of reserves required to state inventory at the lower of cost or market. The Company estimates are based on market activity levels, production requirements, the physical condition of products and technological innovation. Changes in any of these factors may result in adjustments to the carrying value of inventory. See Note 6 - Inventories. Income (Loss) Per Share Basic income (loss) per share is computed by dividing the income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share is computed by dividing the income (loss) for the period by the weighted average number of common and common equivalent shares outstanding during the period. (See Note 17 ‒ Basic and Diluted Net Loss Per Share). Fair Value Measurements FASB ASC 820 “Fair Value Measurement and Disclosure” applies to all assets and liabilities that are being measured and reported on a fair value basis. ASC 820 establishes a framework for measuring fair value in U.S GAAP, and expands disclosure about fair value measurements. ASC 820 enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. ASC 820 requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. In determining the appropriate levels, the Company performs a detailed analysis of the assets and liabilities that are subject to ASC 820. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as Level 3. The fair value represents management’s best estimates based on a range of methodologies and assumptions. The carrying value of receivables and payables arising in the ordinary course of business approximate fair value because of the relatively short period of time between their origination and expected realization. The Company’s financial instruments consist primarily of cash and cash equivalents, receivables, payables and debt instruments. The carrying values of these financial instruments approximate their respective fair values as they are either short - Recent Accounting Pronouncements There have been no recent accounting pronouncements not yet adopted by the Company which would have a material impact on the Company’s financial statements. Revenue from Contracts with Customers. Revenue from Contracts with Customers Revenue from Contracts with Customers Principals versus Agent Considerations, Revenue from Contracts with Customers Identifying Performance Obligations and Licensing Revenue Recognition Revenue from Contracts with Customers Leases Leases Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Recession of Prior SEC Staff Announcements and Observer Comments, In July 2015, the FASB approved a one-year deferral of the effective date to January 1, 2018, with early adoption to be permitted as of the original effective date of January 1, 2017. Once this standard becomes effective, companies may retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures) (the “modified retrospective approach”). The Company completed a review of its various revenue streams within its two reportable segments: (i) T&D Solutions and (ii) Critical Power. We have gathered data to quantify the amount of sales by type of revenue stream and categorized the types of sales for our business units for the purpose of comparing how we currently recognize revenue to the new standard in order to quantify the impact of this ASU. We have made policy elections within the amended standard that are consistent with our current accounting. We adopted ASU 2014-09 in our first quarter of 2018 using the modified retrospective approach. We have performed a quantitative assessment of adopting ASU 2014-09 and concluded that there was no material impact to our financial statements other than enhanced disclosures and no changes to the opening retained earnings. Leases. Leases (Topic 842)” Share-Based Compensation Compensation-Stock Compensation Improvements to Employee Share-Based Payment Accounting We adopted ASU No. 2016-09 in 2017. The adoption of the new guidance did not materially affect our financial position, results of operations or cash flows. Statement of Cash Flows. In August 2016, the FASB issued ASU No. 2016-15, “ Statement of Cash Flows : Classification of Certain Cash Receipts and Cash Payments”. In October 2016, the FASB issued ASU No. 2016-16, “ Income Taxes (Topic 740)”: Intra-Entity Transfers of Assets Other Than Inventory. Simplifying the Test for Goodwill Impairment. Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost the FASB issued ASU No. 2017-07 Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. We adopted Accounting Standards Update No. 2017-07, “ Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” Stock Compensation. Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. Fair Value Measurement. Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement

RESTRUCTURING AND INTEGRATION

RESTRUCTURING AND INTEGRATION	12 Months Ended
	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
RESTRUCTURING AND INTEGRATION	3. RESTRUCTURING AND INTEGRATION During the second quarter of 2015, the Company began evaluating improvement strategies intended to reorganize, simplify and reduce costs from operations through closer business integration, pursuant to a restructuring and integration plan to be carried out in stages with an original completion date by mid-2016. There was no restructuring and integration expense in the year ended December 31, 2018. In the T&D Segment, the relocation of our Medium Voltage Transformer line began as of the end of 2016, and was completed in the first half of 2017. Included in cost of goods sold of T&D Segment for the year ended December 31, 2017 is a restructuring charge of $873 related to write off of raw material inventory not relocated from Canada to Mexico. The following is a summary of the components of restructuring and integration expenses, before taxes, relating to operating expenses during the year ended December 31, 2017: T&D Critical Power Year Ended December 31, 2017 Segment Segment Total Business integration expenses 219 — 219 Pre-tax restructuring and integration expense $ 219 $ — $ 219 For the year ended December 31, 2017, the business integration expenses occurred due to completion of the relocation of Bemag’s production to a lower cost facility. Charges associated with each action were included in restructuring, integration and impairment expenses in our consolidated statement of operations, and reflected in our table of Operating Income (Loss) by segment group in Note 16 – Business Segment and Geographic Information. The components and changes in the Company’s restructuring liability were as follows: Facility Severance and Product Line Closure and Related Harmonization Exit Costs Total Restructuring liability as of January 31, 2017 $ 113 $ 46 $ 592 $ 751 Restructuring and integration expense — — 219 219 Cash paid (113 ) (46 ) (811 ) (970 ) Restructuring liability as of December 31, 2017 $ — $ — $ — $ —

REVENUES

REVENUES	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
REVENUES	4. REVENUES Adoption of ASC Topic 606, “Revenue from Contracts with Customers” On January 1, 2018, we adopted Topic 606 using the modified retrospective method applied to those contracts which were not completed as of January 1, 2018. Results for reporting periods beginning after January 1, 2018 are presented under Topic 606, while prior period amounts are not adjusted and continue to be reported in accordance with our historic accounting under Topic 605. Nature of our products and services Our principal products and services include custom-engineered electrical transformers and engine-generator sets and controls, complemented by a national field-service network to maintain and repair power generation assets. Products We provide electrical transformers that help customers effectively and efficiently manage their electrical power distribution systems to desired specifications. We provide customers with sophisticated power generation equipment and an advanced data collection and monitoring platform, the combination of which is used to ensure smooth, uninterrupted power to operations during times of emergency. Services Power generation systems represent considerable investments that require proper maintenance and service in order to operate reliably during a time of emergency. Our power maintenance programs provide preventative maintenance, repair and support service for our customers’ power generation systems. Our principal source of revenue is derived from sales of products and fees for services. We measure revenue based upon the consideration specified in the customer arrangement, and revenue is recognized when the performance obligations in the customer arrangement are satisfied. A performance obligation is a promise in a contract to transfer a distinct product or service to the customer. The transaction price of a contract is allocated to each distinct performance obligation and recognized as revenue when or as, the customer receives the benefit of the performance obligation. Customers typically receive the benefit of our products when the risk of loss or control for the product transfers to the customer and for services as they are performed. Under ASC 606, revenue is recognized when a customer obtains control of promised products or services in an amount that reflects the consideration we expect to receive in exchange for those products or services. To achieve this core principal, the Company applies the following five steps: 1) Identify the contract with a customer A contract with a customer exists when (i) the Company enters into an enforceable contract with a customer that defines each party’s rights regarding the products or services to be transferred and identifies the payment terms related to these products or services, (ii) the contract has commercial substance and, (iii) the Company determines that collection of substantially all consideration for products or services that are transferred is probable based on the customer’s intent and ability to pay the promised consideration. The Company applies judgment in determining the customer’s ability and intention to pay, which is based on a variety of factors including the customer’s historical payment experience or, in the case of a new customer, published credit and financial information pertaining to the customer. 2) Identify the performance obligations in the contract Performance obligations promised in a contract are identified based on the products or services that will be transferred to the customer that are both capable of being distinct, whereby the customer can benefit from the product or service either on its own or together with other resources that are readily available from third parties or from the Company, and are distinct in the context of the contract, whereby the transfer of the products or services is separately identifiable from other promises in the contract. To the extent a contract includes multiple promised products or services, the Company must apply judgment to determine whether promised products or services are capable of being distinct and distinct in the context of the contract. If these criteria are not met the promised products or services are accounted for as a combined performance obligation. 3) Determine the transaction price The transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring services to the customer. The customer payments are generally due in 30 days. 4) Allocate the transaction price to performance obligations in the contract If the contract contains a single performance obligation, the entire transaction price is allocated to the single performance obligation. Contracts that contain multiple performance obligations require an allocation of the transaction price to each performance obligation based on a relative standalone selling price basis or cost of the product or service. The Company determines standalone selling price based on the price at which the performance obligation is sold separately. If the standalone selling price is not observable through past transactions, the Company estimates the standalone selling price taking into account available information such as market conditions and internally approved pricing guidelines related to the performance obligations. 5) Recognize revenue when or as the Company satisfies a performance obligation The Company satisfies performance obligations either over time or at a point in time. Revenue is recognized at the time the related performance obligation is satisfied by transferring a promised product or service to a customer. Substantially all of our revenue is recognized at a point of time, as the promised product passes to the customer. Service revenues include maintenance contracts that are recognized over time based on the contract term and repair services which are recognized as services are delivered. The following table presents our revenues disaggregated by revenue discipline: For the Year Ended December 31, 2018 2017 Products $ 96,590 $ 105,225 Services 9,800 9,166 Total Revenue $ 106,390 $ 114,391 See Note 16 – Business Segment, Geographic and Customer Information. Financial Statement Impact of Adopting ASC 606 The Company adopted ASC 606 using the modified retrospective method. There was no adjustment to opening retained earnings due to the impact of adopting Topic 606.

OTHER EXPENSE

OTHER EXPENSE	12 Months Ended
	Dec. 31, 2018
Other Income and Expenses [Abstract]
OTHER EXPENSE	5. OTHER EXPENSE Other expense in the consolidated statements of operations reports certain losses associated with activities not directly related to our core operations. For the year ended December 31, 2018 and 2017, other expense was $0.8 million and $0.4 million, respectively.

INVENTORIES

INVENTORIES	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
INVENTORIES	6. INVENTORIES The components of inventories are summarized below: December 31, 2018 2017 Raw materials $ 14,952 $ 10,376 Work in process 5,547 5,082 Finished goods 7,323 10,919 Provision for excess and obsolete inventory (512 ) (264 ) Total inventories $ 27,310 $ 26,113 Inventories are stated at the lower of cost or a net realizable basis determined on a FIFO method. Included in raw materials and finished goods at December 31, 2018 and December 31, 2017 are goods in transit of approximately $7.7 million and $3.1 million, respectively. At December 31, 2017, raw materials in the amount of $3.0 million, not pledged to our secured creditor were used for collateral to secure short term borrowings under a product financing arrangement. This short term borrowing agreement provides the Company with the ability to acquire raw materials utilized in connection with its manufacturing process. The Company generally satisfies its obligations within 60 days of the initial borrowings, which yields an interest expense that is immaterial. The aggregate borrowings under this agreement amounted to $5.4 million as of December 31, 2017. There were no aggregate borrowings under this agreement as of December 31, 2018.

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
PROPERTY, PLANT AND EQUIPMENT	7. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are summarized below: December 31, 2018 2017 Land $ 5 $ 50 Buildings 1,574 2,547 Machinery and equipment 10,578 10,668 Furniture and fixtures 447 475 Computer hardware and software 1,261 1,370 Leasehold improvements 677 721 Construction in progress 348 18 14,890 15,849 Less: Accumulated depreciation (9,606 ) (8,991 ) Total property, plant and equipment, net $ 5,284 $ 6,858 In December 2018 the Company sold the Farnham, Quebec, Canada building for approximately $0.8 million. Depreciation expense was approximately $1.2 and $1.3 million for December 31, 2018 and 2017, respectively.

OTHER ASSETS

OTHER ASSETS	12 Months Ended
	Dec. 31, 2018
Other Assets [Abstract]
OTHER ASSETS	8. OTHER ASSETS In December 2011 and January 2012, the Company made two secured loans, each in the amount of $300 to a developer of a renewable energy project in the U.S. The promissory notes accrue interest at a rate of 4.5% per annum with a final payment of all unpaid principal and interest becoming fully due and payable upon the earlier to occur of (i) the four year anniversary of the issuance date of the promissory notes, or (ii) an event of default. As defined in the promissory notes, an event of default includes, but is not limited to, the following: any bankruptcy, reorganization or similar proceeding involving the borrower, a sale or transfer of substantially all the assets of the borrower, a default by the borrower relating to any indebtedness due to third parties, the incurrence of additional indebtedness by the borrower without the Company’s written consent and failure of the borrower to perform its obligations pursuant to its other agreements with the Company, including its purchase order for pad mount transformers. The principal balance of the loan receivable is outstanding at December 31, 2018 and December 31, 2017. The Company expects to fully recover these amounts. At December 31, 2018, the Company has classified the principal of $600 as other assets as the Company does not anticipate the settlement of both notes in the next twelve months based upon ongoing negotiations with the debtor.

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND OTHER INTANGIBLE ASSETS	9. GOODWILL AND OTHER INTANGIBLE ASSETS Goodwill is tested at the reporting unit level annually and if necessary, whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. In 2018, the Company determined certain definite lived intangible assets within the switchgear reporting unit had carrying values that exceeded its fair value. As a result, the Company recorded impairment charges of $870, $377 and $103 against technology-related industry accreditation, customer relationships and non-complete agreements, respectively. Prior to 2017, the Company tested goodwill for impairment using a quantitative analysis consisting of a two-step approach. The first step of our quantitative analysis consisted of a comparison of the carrying value of our reporting units, including goodwill, to the estimated fair value of our reporting units using a discounted cash flow methodology. If step one results in the carrying value of the reporting unit exceeding the fair value of such reporting unit, we would then proceed to step two which would require us to calculate the amount of impairment loss, if any, that we would record for such reporting unit. In the fourth quarter of 2017 the Company adopted ASU No. 2017-04, “Simplifying the Test for Goodwill Impairment” and eliminated Step 2 from the goodwill impairment test. As of the measurement date October 1, 2018, dry type transformers and critical power reporting units had negative carrying values. The Company allocated $5.6 million and $3.0 million of goodwill to dry type and critical power reporting units, respectively. The Company recorded an impairment charge of $1.4 million to the remaining goodwill of the switchgear reporting unit in 2017, which is included within the T&D Solutions Segment. The Company recorded no impairment to goodwill during the year ended December 31, 2018. Changes in the carrying amount of goodwill by reportable segment during the years ended December 31, 2018 and 2017 are as follows: T&D Critical Power Solutions Solutions Total Segment Segment Goodwill Gross Goodwill: Balance as of January 1, 2017 $ 7,978 $ 2,970 $ 10,948 No activity — — — Balance as of December 31, 2017 $ 7,978 $ 2,970 $ 10,948 Accumulated impairment losses: Balance as of January 1, 2017 $ (976 ) $ — $ (976 ) Impairment charges (1,445 ) — (1,445 ) Balance as of December 31, 2017 $ (2,421 ) $ — $ (2,421 ) Net Goodwill $ 5,557 $ 2,970 $ 8,527 Gross Goodwill: Balance as of January 1, 2018 $ 7,978 $ 2,970 $ 10,948 No activity — — — Balance as of December 31, 2018 $ 7,978 $ 2,970 $ 10,948 Accumulated impairment losses: Balance as of January 1, 2018 $ (2,421 ) $ — $ (2,421 ) No activity — — — Balance as of December 31, 2018 $ (2,421 ) $ — $ (2,421 ) Net Goodwill $ 5,557 $ 2,970 $ 8,527 Changes in intangible asset balances for the years ended December 31, 2018 and 2017 consisted of the following: T&D Critical Power Total Solutions Solutions Intangible Segment Segment Assets Balance as of January 1, 2017 $ 5,565 $ 2,603 $ 8,168 Amortization (415 ) (1,358 ) (1,773 ) Foreign currency translation 4 — 4 Balance as of December 31, 2017 $ 5,154 $ 1,245 $ 6,399 Amortization (339 ) (1,121 ) (1,460 ) Impairment charges (1,350 ) — (1,350 ) Foreign currency translation (5 ) — (5 ) Balance as of December 31, 2018 $ 3,460 $ 124 $ 3,584 The components of intangible assets at December 31, 2018 are summarized below: Weighted Gross Carrying Accumulated Impairment Foreign Net Book Customer relationships 7 (a) $ 7,202 $ (6,175 ) $ (377 ) $ — $ 650 Non-compete agreements 4 (a) 705 (587 ) (103 ) — 15 Trademarks Indefinite 1,816 — — — 1,816 Internally developed software 7 289 (165 ) — — 124 Developed technology 10 492 (197 ) — — 295 Technology-related industry accreditations Indefinite (a) 1,576 — (870 ) (22 ) 684 Total intangible assets $ 12,080 $ (7,124 ) $ (1,350 ) $ (22 ) $ 3,58 4 (a) During 2018, the Company recorded impairment charges to customer relationships, non-compete agreements and technology-related industry accreditations intangible assets of the switchgear business upon determining that the carrying value of these assets was not recoverable. The components of intangible assets at December 31, 2017 are summarized below: Weighted Average Amortization Years Gross Carrying Amount Accumulated Amortization Foreign Currency Translation Net Book Value Customer relationships 7 $ 7,202 $ (4,907) $ - $ 2,295 Non-compete agreements 6 705 (485) - 220 Trademarks Indefinite 1,816 - - 1,816 Distributor territory license (a) 474 (474) - - Internally developed software 7 289 (124) - 165 Developed technology 10 492 (148) - 344 Technology-related industry accreditations Indefinite 1,576 - (17) 1,559 Total intangible assets $ 12,554 $ (6,138) $ (17) $ 6,399 (a) During 2017, the Company accelerated and fully amortized distributor territory license intangible asset upon the termination of its distribution agreement with a supplier. Future scheduled annual straight-line amortization expense over the useful lives of finite life intangible assets is as follows: Years Ending December 31, Total 2019 $ 215 2020 200 2021 200 2022 124 2023 106 Thereafter 239 $ 1,084

DEBT

DEBT	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
DEBT	10. DEBT Canadian Credit Facilities In April 2016, our wholly owned subsidiary, Pioneer Electrogroup Canada Inc. (“PECI”), entered into an Amended and Restated Credit Agreement (“CAD ARCA”) with Bank of Montreal (“BMO”) with respect to our existing Canadian credit facilities (as amended and restated, the “Canadian Facilities”) that replaced and superseded all of our businesses’ prior financing arrangements with the bank. This CAD ARCA extended the maturity date of our Canadian Facilities to July 31, 2017. The CAD ARCA was further amended (the “2017 CAD ARCA Amendment”) on March 15, 2017, and again on March 28, 2018 (the “2018 CAD ARCA Amendment”). The 2018 CAD ARCA Amendment extended the term of our Canadian Facilities to April 1, 2020. Our Canadian Facilities provided for up to $8.2 million Canadian dollars (“CAD”) (approximately $6.3 million expressed in U.S. dollars) consisting of a revolving $7.0 million CAD revolving credit facility (“Facility A”) to finance ongoing operations, a $471 CAD term credit facility (“Facility B”) that financed a plant expansion, and a $712 USD Facility that financed a business acquisition and the purchase and expansion of its manufacturing facilities. The 2017 CAD ARCA Amendment increased the Facility A to $8.0 million CAD, increasing the total amount of loans available under the Canadian Facilities to $9.2 million CAD. Facility A, as amended by the 2017 CAD ARCA Amendment and the 2018 CAD ARCA Amendment, is subject to margin criteria. Facility A, as amended by the 2017 CAD ARCA Amendment, bore interest at BMO’s prime rate plus 0.75% per annum on amounts borrowed in Canadian dollars, or BMO’s U.S. base rate plus 0.75% per annum or LIBOR plus 2.25% per annum on amounts borrowed in U.S. dollars. The 2018 CAD ARCA Amendment modified the interest rate on Facility A borrowings to BMO’s prime rate plus 0.50% per annum on amounts borrowed in Canadian dollars, or BMO’s U.S. base rate plus 0.50% per annum or LIBOR plus 2.0% per annum on amounts borrowed in U.S. dollars. Pursuant to the 2017 CAD ARCA Amendment, Facility A was to mature on July 31, 2018. The 2018 CAD ARCA Amendment extended the maturity of borrowings under Facility A to April 1, 2020. Consistent with the terms of the historical Facility A, including both a subjective acceleration clause and lockbox arrangement, will continue to be presented as a current liability. We believe based upon historical experience, that Facility A will remain in place to fund operations through maturity of this facility in April 2020. Borrowings under Facility B, as amended by the 2017 CAD ARCA Amendment, bore interest at BMO’s prime rate plus 1.25% per annum with principal repayments becoming due on a five year amortization schedule. Pursuant to the CAD ARCA, quarterly principal repayments were reduced to $47 CAD, with a balloon payment of $141 CAD due on July 31, 2017. The 2017 CAD ARCA Amendment amended the payment schedules so that the quarterly principal payments of $47 CAD was to continue after July 31, 2017 until our borrowings under the facility is fully paid on April 30, 2018. The 2018 CAD ARCA Amendment did not modify the interest rate on Facility B borrowings, which remained at BMO’s prime rate plus 1.25% per annum. Pursuant to the 2018 CAD ARCA Amendment, we made the final principal payment of $47 under Facility B on April 30, 2018. Borrowings under Facility C, as amended by the 2017 CAD ARCA, bore interest at BMO’s prime rate plus 1.50% per annum on amounts borrowed in Canadian dollars, or BMO’s U.S. base rate plus 1.50% per annum or LIBOR plus 2.75% per annum on amounts borrowed in U.S. dollars. Pursuant to the CAD ARCA, a principal repayment of $72 USD due on June 30, 2016, and the reduced quarterly principal repayments of $36 USD were to be made beginning on October 31, 2016, with a balloon payment of $496 USD due on July 31, 2017. The 2017 CAD ARCA Amendment amended the payment schedules so that the quarterly payments of $36 USD were to continue until July 31, 2018, with a balloon payment of $352 due on July 31, 2018. Pursuant to the 2018 CAD ARCA Amendment, quarterly principal repayments of $36 were to continue until January 31, 2020, with a balloon payment of $136 due on April 1, 2020. The 2018 CAD ARCA Amendment modified the interest rate on Facility C borrowings to BMO’s prime rate plus 1.25% per annum on amounts borrowed in Canadian dollars, or BMO’s U.S. base rate plus 1.25% per annum or LIBOR plus 2.50% per annum on amounts borrowed in U.S. dollars. In December 2018 we repaid the outstanding principal balance under Facility C of $316 CAD with proceeds received from the sale of the Farnham, Quebec, Canada building. Pursuant to the CAD ARCA, as amended by the 2017 CAD ARCA Amendment and the 2018 CAD ARCA Amendment, financial covenant testing is performed on our consolidated financial statements. We are required to meet certain minimum working capital ratios, minimum EBITDA levels and effective tangible net worth levels for each fiscal quarter, as set forth in the 2017 CAD ARCA Amendment and the 2018 CAD ARCA Amendment. Pursuant to the 2018 CAD ARCA Amendment, BMO waived defaults on all financial covenants existing as of December 31, 2017, for which we were not in compliance. As of December 31, 2018, we had approximately $5.8 million in U.S. dollar equivalents outstanding under our Canadian Facilities. Our borrowings consisted of approximately $5.8 million outstanding under Facility A. As of December 31, 2018, the Company was not in compliance with its financial covenants and on March 25, 2019, the Company received a waiver from BMO on all financial covenant breaches existing as of December 31, 2018. As of December 31, 2017, we had approximately $3.5 million in U.S. dollar equivalents outstanding under our Canadian Credit Facilities. Our borrowings consisted of approximately $2.9 million outstanding under Facility A, $0.1 million outstanding under Facility B and $0.5 million outstanding under Facility C. United States Credit Facilities In April 2016, we entered into an Amended and Restated Credit Agreement (“US ARCA”) with BMO with respect to our existing U.S. facilities that replaced and superseded all of our businesses’ prior financing arrangements with the bank (the “U.S. Facilities”). Additionally, defaults relating to the breach of certain financial covenants under the prior financing arrangements with BMO existing as of December 31, 2015 were waived by BMO. The US ARCA was further amended (the “2017 US ARCA Amendment”) on March 15, 2017, and again on March 28, 2018 (the “2018 US ARCA Amendment”). The 2018 US ARCA Amendment extended the term of our US Facilities to April 1, 2020. Our U.S. Facilities, as amended and restated, provided for up to $19.1 million USD consisting of a $14.0 million USD demand revolving credit facility (“USD Facility A”) to finance ongoing operations, a $5.0 million USD term loan facility (“USD Facility B”) that financed the acquisition of Titan, and a new $100 revolving credit facility provided pursuant to a MasterCard is to be used to pay for and temporarily finance our day-to-day business expenses and for no other purpose. The 2017 US ARCA Amendment increased the USD Facility A to $15.0 million, increasing the total amount of loans available under the U.S. Facilities to $20.1 million USD. USD Facility A, as amended and restated per 2017 US ARCA, bore interest, at our option, at BMO’s prime rate plus 1.00% per annum on U.S. prime rate loans, or an adjusted LIBOR rate plus 2.25% per annum on Eurodollar loans. Pursuant to the 2018 US ARCA Amendment, borrowings under Facility A bears interest, at our option, at the BMO’s prime rate plus 0.75% per annum on U.S. prime rate loans, or an adjusted LIBOR rate plus 2.00% per annum on Eurodollar loans. USD Facility A had a maturity date of July 31, 2017, which was extended to July 31, 2018 pursuant to the 2017 US ARCA Amendment. The 2018 US ARCA Amendment extended the maturity of borrowings under USD Facility A to April 1, 2020. Consistent with the terms of the historical USD Facility A, including both a subjective acceleration clause and lockbox arrangement, will continue to be presented as a current liability. We believe based upon historical experience, that the USD Facility A will remain in place to fund operations through maturity in April 2020. Borrowings under USD Facility B bear interest, at our option, at U.S. base rate plus 1.25% per annum on U.S. prime loans, or an adjusted LIBOR rate plus 2.50% per annum on Eurodollar loans. Pursuant to the US ARCA, our quarterly principal payments were reduced to $31 USD for calendar year 2016, with the original amortization schedule continuing to apply to all quarterly principal payments made after December 31, 2016, and the final maturity date of December 2, 2019. The 2017 US ARCA Amendment reduced the scheduled quarterly principal payments to $31 USD, commencing March 31, 2017, to continue until July 31, 2018, with a balloon payment of $4,438 on July 31, 2018. Pursuant to the 2018 US ARCA Amendment, monthly principal repayments beginning on July 31, 2018 are increased to $100 and will continue until March 31, 2020, with a balloon payment of $2,338 due on April 1, 2020. The 2018 US ARCA Amendment did not change the USD Facility B interest rate. Pursuant to the US ARCA, as amended by the 2017 US ARCA Amendment and the 2018 US ARCA Amendment, financial covenant testing is performed on our consolidated financial statements. We are required to meet certain minimum working capital ratios, minimum EBITDA levels and effective tangible net worth levels for each fiscal quarter, as set forth in the 2017 US ARCA Amendment and the 2018 US ARCA Amendment. On March 28, 2018, pursuant to the 2018 US ARCA Amendment, BMO waived defaults on all financial covenants existing as of December 31, 2017 for which we were not in compliance. Our obligations under the U.S. Facilities are guaranteed by all our wholly-owned U.S. subsidiaries. In addition, we and our wholly-owned U.S. subsidiaries granted a security interest in substantially all of our assets, including 65% of the shares of Pioneer Electrogroup Canada Inc. held by us, to secure our obligations for borrowed money under the U.S. Facilities. The U.S. Facilities also restrict our ability to incur indebtedness, create or incur liens, make investments, make distributions or dividends and enter into merger agreements or agreements for the sale of any or all our assets. As of December 31, 2018, we had approximately $18.8 million outstanding under our U.S. Facilities. Our borrowings consisted of approximately $15.0 million outstanding under USD Facility A, and $3.8 million outstanding under USD Facility B. As of December 31, 2018, the Company was not in compliance with its financial covenants and on March 25, 2019, the Company received a waiver from BMO on all financial covenant breaches existing as of December 31, 2018. As of December 31, 2017, we had approximately $19.4 million outstanding under our U.S. Credit Facilities. Our borrowings consisted of approximately $14.9 million outstanding under USD Facility A, and $4.5 million outstanding under USD Facility B. Long-term debt consists of the following: December 31, 2018 2017 Term credit facilities, net (a) $ 3,793 $ 4,933 Capital lease obligations — 2 Total debt 3,793 4,935 Less current portion (1,174 ) (782 ) Total long-term debt $ 2,619 $ 4,153 (a) The balances as of December 31, 2018 and 2017 are net of debt issuance costs of $45 and $102, respectively. Excluding debt issuance costs of $45, the annual maturities of long-term debt at December 31, 2018, were as follows: Long-term Years Ending December 31, Debt Maturities 2019 $ 1,200 2020 2,638 2021 — 2022 — Thereafter — Total long-term debt maturities $ 3,838 Short Term Borrowings We maintain a short term borrowing arrangement to fund the purchase of raw materials utilized in certain manufacturing processes. There were no borrowings under this agreement as of December 31, 2018. As of December 31, 2017, the aggregate borrowings under this agreement amounted to $5.4 million. See Note 6 - Inventories.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	11. COMMITMENTS AND CONTINGENCIES Leases The company leases certain offices, facilities and equipment under operating and financing leases. Our leases have remaining terms of 1 year to 7 years some of which contain options to extend up to 10 years. As of December 31, 2018 and 2017, assets recorded under finance leases were $3,339 and $2,900 respectively, and accumulated amortization associated with finance leases was $880 and $418, respectively. The components of the lease expense were as follows: For the Year Ended December 31, 2018 2017 Operating lease cost $ 755 $ 675 Finance lease cost Amortization of right-of-use asset $ 622 $ 535 Interest on lease liabilities 157 166 Total finance lease cost $ 779 $ 701 Other information related to leases was as follows: Supplemental Cash Flows Information December 31, 2018 2017 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 768 $ 694 Operating cash flows from finance leases 157 166 Financing cash flows from finance leases 414 301 Right-of-use assets obtained in exchange for lease obligations: Operating leases 664 581 Finance leases 622 535 Weighted Average Remaining Lease Term December 31, 2018 2017 Operating leases 3 years 3 years Finance leases 6 years 7 years Weighted Average Discount Rate December 31, 2018 2017 Operating leases 6.00 % 5.50 % Finance leases 6.37 % 5.90 % Future minimum lease payments under non-cancellable leases as of December 31, 2018 were as follows: Operating Finance Leases Leases 2019 $ 779 $ 630 2020 755 532 2021 410 562 2022 91 363 2023 — 309 Thereafter — 853 Total future minmum lease payments 2,035 3,249 Less imputed interest (164 ) (570 ) Total future minmum lease payments $ 1,871 $ 2,679 Reported as of December 31, 2018: Operating Finance Leases Leases Accounts payable and accrued liabilities $ 687 $ 473 Other long-term liabilities 1,187 2,205 Total $ 1,874 $ 2,678 Litigation and Claims The Company is from time to time party to various lawsuits, claims and other proceedings that arise in the ordinary course of our business. On January 11, 2016, Myers Power Products, Inc., a specialty electrical products manufacturer, filed suit with the Superior Court of the State of California, County of Los Angeles, against us, PCEP and two PCEP’s employees who are former employees of Myers Power Products, Inc., Geo Murickan, the president of PCEP (“Murickan”), and Brett DeChellis (“DeChellis”), alleging, among other things, that Murickan wrongly used and retained confidential business information of Myers Power Products, Inc. for the benefit of us and PCEP, in breach of their confidentiality agreement and/or employment agreement entered into with Myers Power Products, Inc., and that we and PCEP knowingly received and used such confidential business information. Myers Power Products, Inc. is seeking injunctive relief enjoining us, PCEP and our employees from using its confidential business information and compensatory damages of an unspecified unlimited (exceeding $25,000) amount. On March 18, 2016, we filed an answer to the complaint, denying generally each and every allegation and relief sought by Myers Power Products, Inc. and seeking dismissal based on, among other things, failure to state facts sufficient to constitute a cause of action. We intend to contest the matter vigorously. Due to the uncertainties of litigation, however, we can give no assurance that we, PCEP and our employees will prevail on any claims made against us, PCEP and our employees in any such lawsuit. As of the filing of this report, this action is scheduled for trial in the second quarter of 2019. Also, we can give no assurance that any other lawsuits or claims brought in the future will not have an adverse effect on our financial condition, liquidity or operating results. We cannot execute the sale of PCEP until the lawsuit has been resolved. With respect to all such lawsuits, claims and proceedings, the Company records a reserve when it is probable that a liability has been incurred and the amount of loss can be reasonably estimated. The Company does not believe that the resolution of any currently pending lawsuits, claims and proceedings, either individually or in the aggregate, will have a material adverse effect on its financial position, results of operations or liquidity. However, the outcomes of any currently pending lawsuits, claims and proceedings cannot be predicted, and therefore, there can be no assurance that this will be the case.

STOCKHOLDERS' EQUITY

STOCKHOLDERS' EQUITY	12 Months Ended
	Dec. 31, 2018
Stockholders' Equity Note [Abstract]
STOCKHOLDERS' EQUITY	12. STOCKHOLDERS’ EQUITY Common Stock The Company had 8,726,045 shares of common stock, $0.001 par value per share, outstanding as of December 31, 2018 and December 31, 2017. Warrants As of December 31, 2017, the Company had warrants outstanding to purchase 50,600 shares of common stock with a weighted average exercise price of $7.00 per share. All of the warrants expired on September 18, 2018. No warrants were exercised through the expiration date of September 18, 2018. The Company has no warrants outstanding as of December 31, 2018. Preferred Stock The board of directors is authorized, subject to any limitations prescribed by law, without further vote or action by the shareholders, to issue from time to time up to 5,000,000 shares of preferred stock, $0.001 par value, in one or more series. Each such series of preferred stock shall have such number of shares, designations, preferences, voting powers, qualifications, and special or relative rights or privileges as shall be determined by the board of directors, which may include, among others, dividend rights, voting rights, liquidation preferences, conversion rights and preemptive rights. Foreign Currency Translation Foreign assets and liabilities are translated using the exchange rate in effect at the balance sheet date, and results of operations are translated using an average rate for the period. Translation adjustments are accumulated and reported as a component of accumulated other comprehensive income (loss). The Company had foreign currency translation adjustments resulting in an unrealized loss of $161 for the year ended December 31, 2018, as compared to an unrealized gain $174 for the year ended December 31, 2017.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
STOCK-BASED COMPENSATION	13. STOCK-BASED COMPENSATION On December 2, 2009, the Company adopted the 2009 Equity Incentive Plan (the “2009 Plan”) for the purpose of issuing incentive stock options intended to qualify under Section 422 of the Internal Revenue Code of 1986, as amended, non-qualified stock options, restricted stock, stock appreciation rights, performance unit awards and stock bonus awards to employees, directors, consultants and other service providers. A total of 320,000 shares of common stock are reserved for issuance under the 2009 Plan. Options may be granted under the 2009 Plan on terms and at prices as determined by the board of directors or by the plan administrators appointed by the board of directors. On May 11, 2011, the board of directors of the Company adopted the Pioneer Power Solutions, Inc. 2011 Long-Term Incentive Plan (the “2011 Plan”) which was subsequently approved by stockholders of the Company on May 31, 2011. The 2011 Plan replaces and supersedes the 2009 Plan. The Company’s outside directors and employees, including the Company’s principal executive officer, principal financial officer and other named executive officers, and certain contractors are all eligible to participate in the 2011 Plan. The 2011 Plan allows for the granting of incentive stock options, nonqualified stock options, stock appreciation rights, restricted stock, restricted stock units, performance awards, dividend equivalent rights, and other awards, which may be granted singly, in combination, or in tandem, and upon such terms as are determined by the Board or a committee of the Board that is designated to administer the Plan. Subject to certain adjustments, the maximum number of shares of the Company’s common stock that may be delivered pursuant to awards under the 2011 Plan is 700,000 shares. As of December 31, 2018, 424,800 stock options had been granted and are considered outstanding, consisting of 21,000 incentive stock options and 403,800 non-qualified stock options. Expense for stock-based compensation recorded for the years ended December 31, 2018 and 2017 was approximately $0.2 and $0.5 million, respectively. All of the stock-based compensation expense is included in selling, general and administrative expenses in the accompanying consolidated statements of operations. As of December 31, 2018, the Company had total stock-based compensation expense remaining to be recognized of approximately $14. The fair value of the stock options granted was measured using the Black-Scholes valuation model with the following assumptions: Year Ended December 31, 2018 2017 Expected volatility 29.3% 31.1 - 31.3% Expected life in years 5.5 5.5 - 6.0 Risk-free interest rate 2.65% 2.08 - 2.15% Dividend yield 0% 0% A summary of stock option activity for the years ended December 31, 2018 and 2017, and changes during the years then ended is presented below: Stock Weighted average Weighted Aggregate Outstanding as of January 1, 2017 247,400 $ 8.75 5.90 $ 135 Granted 262,000 7.30 9.20 81 Exercised (26,333 ) 4.55 Forfeited (47,267 ) 6.74 6.80 Outstanding as of January 1, 2018 435,800 $ 8.35 7.50 $ 216 Granted 7,000 5.60 Exercised — — Forfeited (18,000 ) 8.54 Outstanding as of December 31, 2018 424,800 $ 8.30 6.50 $ 22 Exercisable as of December 31, 2018 411,133 $ 8.36 6.40 $ 22 The total number of shares reserved for the plan is 700,000 leaving a balance of 248,867 available for future grants. Intrinsic value is the difference between the market value of the stock at December 31, 2018 and the exercise price which is aggregated for all options outstanding and exercisable. A summary of the weighted-average grant-date fair value of options, total intrinsic value of options exercised, and cash receipts from options exercised is shown below: Year Ended December 31, 2018 2017 Weighted-average fair value of options granted (per share) $ 1.81 $ 2.40 Intrinsic value gain of options exercised — 81 Cash receipts from exercise of options — 120

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
INCOME TAXES	14. INCOME TAXES The components of income (loss) before income taxes are summarized below: Year Ended December 31, 2018 2017 Income/(loss) before income taxes U.S. operations $ (8,105 ) $ (7,721 ) Foreign operations 2,744 1,535 Loss before income taxes $ (5,361 ) $ (6,186 ) The components of the income tax provision were as follows : Year Ended December 31, 2018 2017 Current Federal $ — $ — State 71 176 Foreign 584 643 Deferred (352 ) 2,220 Total income tax provision $ 303 $ 3,039 A reconciliation from the statutory U.S. income tax rate and the Company’s effective income tax rate, as computed on loss before taxes, is as follows: Year Ended December 31, 2018 2017 Federal income tax at statutory rate $ (1,126 ) $ (2,350 ) State and local income tax, net (314 ) (65 ) Foreign rate differential 157 (143 ) Other permanent items 397 86 Impact of tax cuts and jobs act enactment — 516 Impact of repatriation of foreign subsidiary income (330 ) 312 Valuation allowance 1,581 4,710 True-up & other (62 ) (27 ) Total $ 303 $ 3,039 On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (“U.S. tax reform”) that lowers the statutory tax rate on U.S. earnings, taxes historic foreign earnings at a reduced rate of tax, establishes a quasi-territorial tax system and enacts new taxes associated with global operations. The impact of U.S. tax reform has been recorded on a provisional basis as the legislation provides for additional guidance to be issued by the U.S. Department of the Treasury on several provisions including the computation of the transitional tax. This amount was adjusted in 2018 based on guidance issued during the year. Additional guidance may be issued after 2018 and any resulting effects will be recorded in the quarter of issuances. In addition, analysis performed and conclusions reached as part of the tax return filing process and additional guidance on accounting for U.S. tax reform could affect the provisional amount. As part of tax reform, the U.S. has enacted a minimum tax on foreign earnings (“global intangible low-taxed income”) which is now being reflected in the income tax expense. The Company’s provision for income taxes reflects an effective tax rate on loss before income taxes of 5.7% in 2018, as compared to 49.1% in 2017. The decrease in the Company’s effective tax rate during 2018 primarily reflects the impact of the Tax Cuts and Jobs Act Enactment and the recognition of a valuation allowance. The Company intends to reimburse funds borrowed from its subsidiary during 2019. To finance the reimbursement the Canadian subsidiary will issue a limited dividend of $9,724. The Company has provided for $486 of Canadian withholding taxes as well as a loss $1,753 for foreign exchange upon realization of the dividend. Beyond the limited dividend, the Company has not established deferred income taxes on accumulated undistributed earnings of its foreign subsidiary, which are expected to be reinvested indefinitely. Repatriation of all accumulated earnings of its foreign subsidiary would be impracticable to the extent such earnings represent capital to support normal business operations. Although no U.S. federal taxes will be imposed on future distribution of foreign earnings, the distributions could be subject to Canadian withholding tax and state income taxes. The net deferred income tax asset was comprised of the following: December 31, 2018 2017 Noncurrent deferred income taxes Total assets $ 2,971 $ 2,729 Total liabilities (1,592 ) (1,665 ) Net noncurrent deferred income tax asset 1,379 1,064 Net deferred income tax asset $ 1,379 $ 1,064 The tax effect of temporary differences between GAAP accounting and federal income tax accounting creating deferred income tax assets and liabilities were as follows: December 31, 2018 2017 Deferred tax assets Canada net operating loss carry forward $ 120 $ 148 U.S. net operating loss carry forward 659 — Non-deductible reserves 877 1,180 Non-deductible interest expense 800 — Pension plan 39 75 Tax credits 4,631 4,631 Fixed Assets 26 104 Intangibles 1,635 1,203 Other 465 116 Valuation allowance (6,281 ) (4,728 ) Net deferred tax assets 2,971 2,729 Deferred tax liabilities Fixed Assets, Land (313 ) (415 ) Intangibles (723 ) (764 ) Other (556 ) (486 ) Net deferred tax liability (1,592 ) (1,665 ) Deferred tax asset, net $ 1,379 $ 1,064 The assessment of the amount of value assigned to the Company’s deferred tax assets under the applicable accounting rules is judgmental. The Company is required to consider all available positive and negative evidence in evaluating the likelihood that the Company will be able to realize the benefit of its deferred tax assets in the future. Such evidence includes scheduled reversals of deferred tax liabilities, projected future taxable income, tax planning strategies and the results of recent operations. Since this evaluation requires consideration of events that may occur some years into the future, there is an element of judgment involved. Realization of our deferred tax assets is dependent on generating sufficient taxable income in future periods. The Company does not believe that it is more likely than not that future taxable income will be sufficient to allow the Company to recover substantially all of the value assigned to its deferred tax assets. Accordingly, the Company has provided for a valuation allowance on the Company’s domestic deferred tax assets as the combined effect of future domestic source income and the future reversals of future tax assets and liabilities may be insufficient to realize the full benefits of the assets. The increase in the valuation allowance during the year ended December 31, 2018 is primarily attributable to interest expense limitation pursuant to IRC Section 163 (J). During 2017, the Company had provided a valuation allowance of the Company's foreign tax credits as we had not anticipated generating sufficient foreign source income. As of December 31, 2018, the Company has approximately $2.6 million of net operating loss carryforwards. The Company has no Canadian net operating loss carryforwards. The Company has approximately $4.6 million of deferred tax assets on which it is taking a partial valuation allowance of approximately $1.6 million. The Company has approximately $4.6 million of foreign tax credits for which it has provided a full valuation allowance and $39 of research and development credits which expire in 2032. A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, exclusive of interest and penalties, is as follows: Uncertain Tax Balance as of January 1, 2017 $ 204 Increases due to changes in foreign exchange 14 Balance as of December 31, 2017 $ 218 Decreases related to tax return becoming statuted barred during the year (89 ) Balance as of December 31, 2018 $ 129 The Company’s policy is to recognize interest and penalties related to income tax matters as interest expense. Management believes that an adequate provision has been made for any adjustments that may result from tax examinations. However, the outcome of tax audits cannot be predicted with certainty. If any issues addressed in the Company’s tax audits are resolved in a manner not consistent with management’s expectations, the Company could be required to adjust its provision for income taxes in the period such resolution occurs. Although timing of the resolution and/or closure of audits is highly uncertain, the Company does not believe it is reasonably possible that its unrecognized tax benefits would materially change in the next twelve months. The tax years subject to examination by major tax jurisdiction include the years 2011 and forward by the U.S. Internal Revenue Service and most state jurisdictions, and the years 2014 and forward for the Canadian jurisdiction except for related non-resident transactions which would be open for the years 2011 and forward.

PENSION PLAN

PENSION PLAN	12 Months Ended
	Dec. 31, 2018
Defined Benefit Plan [Abstract]
PENSION PLAN	15. PENSION PLAN The Company’s Canadian subsidiary sponsors a defined benefit pension plan at one of its locations in which a majority of its employees are members. The employer contributes 100% to the plan. The benefits, or the rate per year of credit service, are established by the Company’s subsidiary and updated at its discretion. Cost of Benefits The components of the expense the Company incurred under the pension plan are as follows: For the Year Ended Affected Line Item December 31, in the Statements of 2018 2017 Consolidated Operations Current service cost, net of employee contributions $ 54 $ 42 Selling, general and administrative Interest cost on accrued benefit obligation 98 103 Other expense Expected return on plan assets (168 ) (163 ) Other expense Amortization of transitional obligation 10 10 Other expense Amortization of past service costs 7 7 Other expense Amortization of net actuarial gain 54 47 Other expense Total cost of benefit $ 55 $ 46 Benefit Obligation The Company’s obligation for the pension plan is valued annually as of the beginning of each fiscal year. The projected benefit obligation represents the present value of benefits ultimately payable to plan participants for both past and future services expected to be provided by the plan participants. The Company’s obligations pursuant to the pension plan are as follows: December 31, 2018 2017 Projected benefit obligation, at beginning of year $ 2,985 $ 2,628 Current service cost, net of employee contributions 54 42 Employee contributions 32 31 Interest cost 98 103 Impact of change in discount rate (219 ) 173 Benefits paid (166 ) (180 ) Foreign exchange adjustment (229 ) 188 Projected benefit obligation, at end of year $ 2,555 $ 2,985 A summary of expected benefit payments related to the pension plan is as follows: Years Ending December 31, Pension Plan 2019 $ 152 2020 148 2021 145 2022 141 2023 137 2024-2028 660 Other changes in plan assets and benefit obligations recognized in other comprehensive income / (loss) are as follows: For the Year Ended December 31, 2018 2017 Net income/(loss) $ 15 $ (199 ) Amortization of prior service cost 7 7 Amortization of gain 54 47 Amortization of transitional asset 10 10 86 (135 ) Taxes 24 (27 ) Total recognized in other comprehensive income/(loss), net of taxes $ 62 $ (108 ) The estimated net gain amortized from accumulated other comprehensive income / (loss) into net periodic benefit cost over the next year amounts to approximately $54. The estimated prior service cost amortized from accumulated other comprehensive income into net periodic benefit cost over the next year amounts to approximately $7. The estimated transitional asset amortized from accumulated other comprehensive income into net periodic benefit cost over the next year amounts to approximately $10. The accumulated other comprehensive income / (loss) consists of the following amounts that have not yet been recognized as components of net benefit cost: December 31, 2018 2017 Unrecognized prior service cost $ 81 $ 88 Unrecognized net actuarial loss 1,442 1,508 Unrecognized transitional obligation 35 46 Deferred income taxes (413 ) (435 ) Total $ 1,145 $ 1,207 Plan Assets Assets held by the pension plan are invested in accordance with the provisions of the Company’s approved investment policy. The pension plan’s strategic asset allocation was structured to reduce volatility through diversification and enhance return to approximate the amounts and timing of the expected benefit payments. The asset allocation for the pension plan at the end of 2018 and 2017 and the target allocation for 2019, by asset category, is as follows: December 31, 2019 Target 2018 2017 Allocation Equity securities 36 % 34 % 36 % Fixed income securities 56 57 56 Real estate 8 7 8 Other 0 2 0 Total 100 % 100 % 100 % The fair market values, by asset category are as follows: Fair Value Measurements at December 31, 2018 2017 Equity securities $ 867 $ 919 Fixed income securities 1,348 1,540 Real estate 192 189 Other — 54 Total $ 2,407 $ 2,702 Changes in the assets held by the pension plan in the years 2018 and 2017 are as follows: December 31, 2018 2017 Fair value of plan assets, at beginning of year $ 2,702 $ 2,456 Actual return on plan assets (35 ) 136 Employer contributions 87 85 Employee contributions 32 31 Benefits paid (166 ) (180 ) Foreign exchange adjustment (213 ) 174 Fair value of plan assets, at end of year $ 2,407 $ 2,702 Contributions The Company’s policy is to fund the pension plan at or above the minimum required by law. The Company made $0.1 million of contributions to its defined benefit pension plan in each of the 2018 and 2017 years. The Company expects to make contributions of less than $0.1 million to the defined benefit pension plan in 2019. Changes in the discount rate and actual investment returns Funded Status The funded status of the pension plan is as follows: December 31, 2018 2017 Projected benefit obligation $ 2,555 $ 2,985 Fair value of plan assets 2,407 2,702 Accrued obligation (long term) $ 148 $ 283 Assumptions Assumptions used in accounting for the pension plan are as follows: December 31, 2018 2017 Weighted average discount rate used to determine the accrued benefit obligations 3.90 % 3.40 % Discount rate used to determine the net pension expense 3.40 % 3.80 % Expected long-term rate on plan assets 6.50 % 6.50 % To determine the expected long-term rate of return on pension plan assets, the Company considers the current and expected asset allocations, as well as historical and expected returns on various categories of plan assets. The Company applies the expected rate of return to a market related value of the assets which reduces the underlying variability in assets to which the Company applies that expected return. The Company amortizes gains and losses as well as the effects of changes in actuarial assumptions and plan provisions over a period no longer than the average future service of employees. Primary actuarial assumptions are determined as follows: The expected long-term rate of return on plan assets is based on the Company’s estimate of long-term returns for equities and fixed income securities weighted by the allocation of assets in the plans. The rate is impacted by changes in general market conditions, but because it represents a long-term rate, it is not significantly impacted by short-term market swings. Changes in the allocation of plan assets would also impact this rate. The assumed discount rate is used to discount future benefit obligations back to today’s dollars. The discount rate is reflective of yield rates on U.S. long-term investment grade corporate bonds on and around the December 31 valuation date. This rate is sensitive to changes in interest rates. A decrease in the discount rate would increase the Company’s obligation and expense.

BUSINESS SEGMENT, GEOGRAPHIC AN

BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION	16. BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION The Company follows ASC 280 - Segment Reporting in determining its reportable segments. The Company considered the way its management team, most notably its chief operating decision maker, makes operating decisions and assesses performance and considered which components of the Company’s enterprise have discrete financial information available. As the Company makes decisions using a manufactured products vs. distributed products and services group focus, its analysis resulted in two reportable segments: T&D Solutions and Critical Power. The Critical Power reportable segment is the Company’s Titan Energy Systems Inc. business unit. The T&D Solutions reportable segment is an aggregation of all other Company subsidiaries, together with sales and expenses attributable to strategic sales group for its T&D Solutions marketing activities. The T&D Solutions segment is involved in the design, manufacture and distribution of electrical transformers and switchgear used primarily by utilities, large industrial and commercial operations to manage their electrical power distribution needs. The Critical Power segment provides power generation equipment, and aftermarket field-services primarily to help customers ensure smooth, uninterrupted power to operations during times of emergency. The following tables present information about segment income and loss: For the Year Ended December 31, 2018 2017 Revenues T&D Solutions Transformers $ 86,263 $ 86,325 Switchgear 8,747 13,001 $ 95,010 $ 99,326 Critical Power Solutions Equipment 1,580 5,898 Service 9,800 9,167 11,380 15,065 Consolidated $ 106,390 $ 114,391 For the Year Ended December 31, 2018 2017 Depreciation and Amortization T&D Solutions $ 1,525 $ 1,730 Critical Power Solutions 1,718 1,792 Unallocated Corporate Overhead Expenses 62 71 Consolidated $ 3,305 $ 3,593 For the Year Ended December 31, 2018 2017 Operating Income (Loss) T&D Solutions $ 3,155 $ 910 Critical Power Solutions (1,322 ) (682 ) Unallocated Corporate Overhead Expenses (3,706 ) (3,541 ) Consolidated $ (1,873 ) $ (3,313 ) The following table presents information which reconciles segment assets to consolidated total assets: December 31, 2018 2017 Assets T&D Solutions $ 59,432 $ 60,171 Critical Power Solutions 7,745 9,414 Corporate 5,335 4,670 Consolidated $ 72,512 $ 74,256 Corporate assets consist primarily of cash and deferred tax assets. Revenues are attributable to countries based on the location of the Company’s customers: December 31, 2018 2017 Revenues United States $ 74,122 $ 77,924 Canada 32,140 36,251 Others 128 216 Total $ 106,390 $ 114,391 Sales to Siemens and Hydro-Quebec Utility Company accounted for approximately 17% and 10%, respectively, of the Company’s total sales in 2018, as compared to 18% and11%, respectively, in 2017. The distribution of the Company’s property, plant, and equipment by geographic location is approximately as follows: December 31, 2018 2017 Property, plant and equipment Canada $ 1,596 $ 2,801 United States 938 708 Mexico 2,750 3,349 Total $ 5,284 $ 6,858

BASIC AND DILUTED LOSS PER COMM

BASIC AND DILUTED LOSS PER COMMON SHARE	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
BASIC AND DILUTED LOSS PER COMMON SHARE	17. BASIC AND DILUTED LOSS PER COMMON SHARE Basic and diluted loss per common share is calculated based on the weighted average number of shares outstanding during the period. The Company’s employee and director stock option awards, as well as incremental shares issuable upon exercise of warrants, are not considered in the calculations if the effect would be anti-dilutive. The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share data): For the Year Ended December 31, 2018 2017 Numerator: Net loss $ (5,664 ) $ (9,225 ) Denominator: Weighted average basic shares outstanding 8,726 8,717 Effect of dilutive securities - equity based compensation plans — — Net dilutive effect of warrants outstanding — — Denominator for diluted net income per common share $ 8,726 $ 8,717 Net loss per common share: Basic $ (0.65 ) $ (1.06 ) Diluted $ (0.65 ) $ (1.06 ) Anti-dilutive securities (excluded from per share calculation): Equity based compensation plans $ 365 $ 383 Warrants $ — $ 51

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2018
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	18. SUBSEQUENT EVENTS On January 22, 2019, Pioneer Critical Power, Inc., a Delaware corporation (“PCPI”), a wholly-owned subsidiary of the Company, CleanSpark, Inc., a Nevada corporation(“CleanSpark”), and CleanSpark Acquisition, Inc., a Delaware corporation (“Merger Sub”), entered into an Agreement and Plan of Merger (the “Merger Agreement”), pursuant to which, among other things, Merger Sub merged with and into PCPI, with PCPI becoming a wholly-owned subsidiary of the CleanSpark and the surviving company of the merger (the “Merger”). At the effective time of the Merger, all of the issued and outstanding shares of common stock of PCPI, par value $0.01 per share, were converted into the right to receive (i) 1,750,000 shares of common stock, par value $0.001 per share (“Common Stock”), of CleanSpark, (ii) a five-year warrant to purchase 500,000 shares of Common Stock at an exercise price of $1.60 per share, and (iii) a five-year warrant to purchase 500,000 shares of Common Stock at an exercise price of $2.00 per share. The Merger Agreement also contains representations, warranties and covenants of the parties customary for transactions similar to those contemplated by the Merger Agreement. Such representations and warranties are made solely for purposes of the Merger Agreement and, in some cases, may be subject to qualifications and limitations agreed to by the parties in connection with the negotiated terms of the Merger Agreement and may have been qualified by disclosures that were made in connection with the parties’ entry into the Merger Agreement. In connection with the Merger Agreement, the Company, CleanSpark and PCPI entered into an Indemnity Agreement (the “Indemnity Agreement”), dated January 22, 2019, pursuant to which the Company agreed to assume the liabilities and obligations related to the claims made by Myers Powers Products, Inc. in the case titled Myers Power Products, Inc. v. Pioneer Power Solutions, Inc., Pioneer Custom Electrical Products, Corp., et al. In connection with entry into the Merger Agreement, the Company and CleanSpark entered into a Contract Manufacturing Agreement (the “Contract Manufacturing Agreement”), dated as of January 22, 2019, pursuant to which the Company will manufacture at its Santa Fe Springs, California facility parallel switchgears, automatic transfer switches and related control and circuit protective equipment (collectively, “Products”) exclusively for purchase by CleanSpark. CleanSpark will purchase the Products via purchase orders issued to the Company at any time and from time to time. The price for the Products payable by CleanSpark to the Company will be negotiated on a case by case basis, but all purchases of Products will have a target price of 91% of the CleanSpark customer’s purchase order price and will not be more than 109% of the Company’s cost. The Contract Manufacturing Agreement has a term of 18 months and may be extended by mutual agreement of the Company and CleanSpark. In connection with entry into the Merger Agreement, the Company and CleanSpark entered into a Non-Competition and Non-Solicitation Agreement (the “Non-Compete Agreement”), dated January 22, 2019, pursuant to which the Company agreed not to, among other things, own, manage, operate, finance, control, advise, render services to or guarantee the obligations of any person or entity that engages in or plans to engage in the design, manufacture, distribution and service of paralleling switchgear, automatic transfer switches, and related products (the “Restricted Business”). The Company agreed not to engage in the Restricted Business within any state or county within the United States in which CleanSpark or the surviving company of the Merger conducts such Restricted Business for a period of four (4) years from the date of the Non-Compete Agreement. In addition, the Company also agreed, for a period of four (4) years from the date of the Non-Compete Agreement, not to, among other things, directly or indirectly (i) solicit, induce, or attempt to induce customers, suppliers, licensees, licensors, franchisees, consultants of the Restricted Business as conducted by the Company, CleanSpark or the surviving company to cease doing business with the surviving company or CleanSpark or (ii) solicit, recruit, or encourage any of the surviving company’s or CleanSpark’s employees, or independent contractors to discontinue their employment or engagement with the surviving company or CleanSpark.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2018
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany accounts and transactions have been eliminated in consolidation.
Reclassifications	Reclassifications Certain reclassifications have been made in prior years’ financial statements to conform to the presentation used in the current year. These reclassifications have not resulted in any changes to the previously reported net income for any year.
Use of Estimates	Use of Estimates The preparation of financial statements in accordance with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosures of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. The financial statements include estimates based on currently available information and management’s judgment as to the outcome of future conditions and circumstances. Significant estimates in these financial statements include allowance for doubtful accounts receivable, inventory provision, useful lives and impairment of long-lived assets, income tax provision, goodwill impairment, cost of pension benefits and estimates related to purchase price allocation. Changes in the status of certain facts or circumstances could result in material changes to the estimates used in the preparation of the financial statements and actual results could differ from the estimates and assumptions.
Revenue Recognition	Revenue Recognition Revenue is recognized when (1) a contract with a customer exists, (2) performance obligations promised in a contract are identified based on the products or services that will be transferred to the customer, (3) the transaction price is determined based on the consideration to which the Company will be entitled in exchange for transferring products or services to the customer, (4) the transaction price is allocated to the performance obligations in the contract and (5) the Company satisfies performance obligations. Substantially all of our revenue is recognized at a point of time, as the promised product passes to the customer. Service revenues include maintenance contracts that are recognized over time based on the contract term and repair services which are recognized as services are delivered.
Cost of Goods Sold	Cost of Goods Sold Cost of goods sold for the T&D Solutions and Critical Power segments primarily includes charges for materials, direct labor and related benefits, freight (inbound and outbound), direct supplies and tools, purchasing and receiving costs, inspection costs, internal transfer costs, warehousing costs and utilities related to production facilities and, where appropriate, an allocation of overhead. Cost of goods sold for Critical Power Solutions also includes indirect labor and infrastructure cost related to the provision of field services.
Financial Instruments	Financial Instruments The Company’s financial instruments consist primarily of cash and cash equivalents, receivables, payables and debt instruments. The carrying values of these financial instruments approximate their respective fair values as they are either short-term in nature or carry interest rates which are periodically adjusted to market rates. Unless otherwise indicated, the carrying value of these financial instruments approximates their fair market value.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents comprise cash on hand, demand deposits and investments with an original maturity at the date of purchase of three months or less.
Accounts Receivable	Accounts Receivable The Company accounts for trade receivables at original invoice amount less an estimate made for doubtful receivables based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history and current economic conditions. The Company writes off trade receivables when they are deemed uncollectible. The Company records recoveries of trade receivables previously written off when it receives them. Management considers the Company’s allowance for doubtful accounts, which was $0.2 and $0.5 million as of December 31, 2018 and 2017, respectively, sufficient to cover any exposure to loss in its accounts receivable.
Long-Lived Assets	Long-Lived Assets Depreciation and amortization for property, plant and equipment, and finite life intangible assets, is computed and included in cost of goods sold and in selling and administrative expense, as appropriate. Long-lived assets, consisting primarily of property, plant and equipment, are stated at cost less accumulated depreciation. Property, plant and equipment are depreciated using the straight line method, based on the estimated useful lives of the assets (buildings – 25 years, machinery and equipment - 5 to 15 years, computer hardware and software - 3 to 5 years, furniture & fixtures 5 to 7 years, leasehold improvements – term of lease). Depreciation commences in the year the assets are ready for their intended use. As a convention, in the initial year an asset is placed in service, the Company takes one half year of depreciation. Finite life intangible assets consist primarily of customer relationships in multiple categories that are specific to the businesses acquired and for which estimated useful lives were determined based on actual historical customer attrition rates. The Company’s other finite life intangible assets consist of non-compete agreements, which have defined terms, certain trademarks which the Company has elected to gradually discontinue, and internally-developed software. These finite life intangible assets are amortized by the Company over periods ranging from four to ten years. The Company accelerated and fully amortized the distributor territory license intangible asset upon the termination of its distribution agreement with a supplier during the year ended December 31, 2017. Long-lived assets and finite life intangible assets are reviewed for impairment whenever events or circumstances have occurred that indicate the remaining useful life of the asset may warrant revision or that the remaining balance of the asset may not be recoverable. Upon indications of impairment, or in the normal course of annual testing, assets and liabilities are grouped at the lowest level for which identifiable cash flows are largely independent of the cash flows of other assets and liabilities. The measurement of possible impairment is generally estimated by the ability to recover the balance of an asset group from its expected future operating cash flows on an undiscounted basis. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the asset exceeds the fair value thereof. Determining asset groups and underlying cash flows requires the use of significant judgment.
Goodwill and Indefinite Life Intangible Assets	Goodwill and Indefinite Life Intangible Assets Goodwill was generated through the acquisitions made by the Company between 2010 and 2015. As the total consideration paid exceeded the value of the net assets acquired, the Company recorded goodwill for each of the completed acquisitions. At the date of acquisition, the Company performed a valuation to determine the value of the intangible assets, and the allocation of the purchase price to the assets and liabilities acquired. The goodwill is attributable to synergies and economies of scale provided to us by the acquired entity. The Company tests its goodwill and indefinite-lived intangible asset for impairment at least annually (as of October 1) and whenever events or circumstances change that indicate impairment may have occurred. A significant amount of judgment is involved in determining if an indicator of impairment has occurred. Such indicators may include, among others: a significant decline in the Company’s expected future cash flows; a sustained, significant decline in the Company’s stock price and market capitalization; a significant adverse change in legal factors or in the business climate of its segments; unanticipated competition; and slower growth rates. Any adverse change in these factors could have a significant impact on the recoverability of goodwill, the indefinite-lived intangible assets and the Company’s consolidated financial results. As described in Note 9, the company recorded impairment charges of $870, $377 and $103 against technology-related industry accreditation, customer relationships and non-complete agreements, respectively, in 2018 and $1,445 against goodwill in 2017. The Company tests its goodwill for impairment at the reporting unit level, which is an operating segment or a segment that is one level below its operating segments. An operating segment is defined by ASC 280-10-50 as a component of an enterprise that earns revenue and incurs expenses, of which discrete financial information is available. The goodwill has been assigned to the reporting unit to which the value relates. Two of the Company’s four reporting units have goodwill. The Company tests goodwill by estimating the fair value of the reporting unit using a discounted cash flow model and other valuation techniques, but may elect to perform a qualitative analysis. A quantitative analysis is used to determine an estimated fair value representing the amount at which a reporting unit could be bought or sold in a current transaction between willing parties on an arms-length basis. The estimated fair value of each reporting unit is derived using a discounted cash flow method based on market and reporting unit-specific assumptions, including estimated future revenues and expenses, weighted average cost of capital, capital expenditures, the useful life over which cash flows will occur and other assumptions which are considered reasonable and inherent in discounted cash flow analysis. A qualitative analysis is performed by assessing certain trends and factors, including projected market outlook and growth rates, forecasted and actual sales and operating profit margins, discount rates, industry data and other relevant qualitative factors. These trends and factors are compared to, and based on, the assumptions used in the most recent quantitative assessment. Indefinite life intangible assets consist primarily of trademarks. The fair value of these assets are determined using a royalty relief methodology of the income approach similar to that employed when the associated assets were acquired, but using updated estimates of future sales, cash flows and profitability. The royalty relief methodology isolates the revenues derived from the use of the intangible asset, applies an appropriate pretax royalty rate to the revenues, deducts income taxes, discounts the cash flow over the projection period to present value using an appropriate discount rate and adds the present value of the tax shield.
Foreign Currency Translation	Foreign Currency Translation The functional currency for the Companies foreign subsidiaries is the local currency in which the entity is located. The financial statements of all subsidiaries with a functional currency other than the U.S. dollar have been translated into U.S. dollars. All assets and liabilities of foreign operations are translated into U.S. dollars using year-end exchange rates, and all revenues and expenses are translated at weighted average rates during the respective period. The U.S. dollar results that arise from such translation, as well as exchange gains and losses on intercompany balances of a long-term investment nature, are included in the cumulative currency translation adjustments in accumulated other comprehensive income in stockholders’ equity. Gains and losses resulting from foreign currency transactions are included in earnings.
Income Taxes	Income Taxes The Company accounts for income taxes under the asset and liability method, based on the income tax laws and rates in the countries in which operations are conducted and income is earned. This approach requires the recognition of deferred tax assets and liabilities for the expected future tax consequences of temporary differences between the carrying amounts and the tax basis of assets and liabilities. Developing the provision for income taxes requires significant judgment and expertise in federal, international and state income tax laws, regulations and strategies, including the determination of deferred tax assets and liabilities and, if necessary, any valuation allowances that may be required for deferred tax assets. The Company records a valuation allowance to reduce its deferred tax assets to the amount that is more likely than not to be realized. The Company believes that the deferred tax asset recorded as of December 31, 2018 and 2017 is realizable through future reversals of existing taxable temporary differences and future taxable income. If the Company was to subsequently determine that it would be able to realize deferred tax assets in the future in excess of its net recorded amount, an adjustment to deferred tax assets would increase net income for the period in which such determination was made. The Company will continue to assess the adequacy of the valuation allowance on a quarterly basis. The Company’s judgments and tax filings are subject to audit by various taxing authorities. The objective of accounting for income taxes is to recognize the amount of taxes payable or refundable for the current year and deferred tax liabilities and assets for the future tax consequences or events that have been recognized in the Company’s financial statements or tax returns. The Company recognizes the tax benefit from an uncertain tax position only if it is more likely than not that the tax position will be sustained on examination by the taxing authorities, based on the technical merits of the position (see “Unrecognized Tax Benefits” below). Income tax related interest and penalties are grouped with interest expense on the consolidated statement of operations.
Unrecognized Tax Benefits	Unrecognized Tax Benefits The Company accounts for unrecognized tax benefits in accordance with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) “Income Taxes” (“ASC 740”). ASC 740 prescribes a recognition threshold that a tax position is required to meet before being recognized in the financial statements and provides guidance on de-recognition, measurement, classification, interest and penalties, accounting in interim periods, disclosure and transition issues. ASC 740 contains a two-step approach to recognizing and measuring uncertain tax positions. The first step is to evaluate the tax position for recognition by determining if the weight of available evidence indicates that it is more likely than not that the position will be sustained upon ultimate settlement with a taxing authority, including resolution of related appeals or litigation processes, if any. The second step is to measure the tax benefit as the largest amount that is more than 50% likely of being realized upon ultimate settlement. Additionally, ASC 740 requires the Company to accrue interest and related penalties, if applicable, on all tax positions for which reserves have been established consistent with jurisdictional tax laws. See Note 14 ‒ Income Taxes.
Share-Based Payments	Share-Based Payments The Company accounts for share based payments in accordance with the provisions of FASB ASC 718 “Compensation – Stock Compensation” and accordingly recognizes in its financial statements share based payments at their fair value. In addition, it recognizes in the financial statements an expense based on the grant date fair value of stock options granted to employees and directors. The expense is recognized on a straight line basis over the expected option life while taking into account the vesting period and the offsetting credit is recorded in additional paid-in capital. Upon exercise of options, the consideration paid together with the amount previously recorded as additional paid-in capital is recognized as capital stock. The Company estimates its forfeiture rate in order to determine its compensation expense arising from stock based awards. The Company uses the Black-Scholes Merton option pricing model to determine the fair value of the options. Non-employee members of the Board of Directors are deemed to be employees for the purposes of recognizing share-based compensation expense.
Employee Benefit Plan	Employee Benefit Plan The Company sponsors a defined benefit plan as described in Note 15 ‒ Pension Plan. The cost of pension benefits earned by employees is actuarially determined using the accumulated benefit method and a discount rate, used to measure interest cost on the accrued employee future benefit obligation, based on market interest rates on high-quality debt instruments with maturities that match the timing and benefits expected to be paid by the plan. Plan assets are valued using current market values and the expected return on plan assets is based on the net asset value of the plan assets. The costs that relate to employee current service are charged to income annually. The transitional obligation created upon adoption of the FASB ASC 715 “Compensation – Retirement Benefits” is amortized over the average remaining service period of employees. For a given year, unrecognized actuarial gains or losses are recognized into income if the unamortized balance at the beginning of the year is more than 10% of the greater of the plan asset or liability balance. Any unrecognized actuarial gain or loss in excess of this threshold is recognized in income over the remaining service period of the employees. The Company reflects the funded status of its defined pension plans as a net asset or net liability in its balance sheet, with an offsetting amount in accumulated other comprehensive income, and recognizes changes in that funded status in the year in which the changes occur through comprehensive income.
Inventories	Inventories Inventories are stated at the lower of cost or net realizable value using first-in, first-out (FIFO) or weighted-average methods and include the cost of materials, labor and manufacturing overhead. The Company uses estimates in determining the level of reserves required to state inventory at the lower of cost or market. The Company estimates are based on market activity levels, production requirements, the physical condition of products and technological innovation. Changes in any of these factors may result in adjustments to the carrying value of inventory. See Note 6 - Inventories.
Income (Loss) Per Share	Income (Loss) Per Share Basic income (loss) per share is computed by dividing the income (loss) for the period by the weighted average number of common shares outstanding during the period. Diluted income (loss) per share is computed by dividing the income (loss) for the period by the weighted average number of common and common equivalent shares outstanding during the period. (See Note 17 ‒ Basic and Diluted Net Loss Per Share).
Fair Value Measurements	Fair Value Measurements FASB ASC 820 “Fair Value Measurement and Disclosure” applies to all assets and liabilities that are being measured and reported on a fair value basis. ASC 820 establishes a framework for measuring fair value in U.S GAAP, and expands disclosure about fair value measurements. ASC 820 enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. ASC 820 requires that assets and liabilities carried at fair value be classified and disclosed in one of the following three categories: Level 1: Quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs that are not corroborated by market data. In determining the appropriate levels, the Company performs a detailed analysis of the assets and liabilities that are subject to ASC 820. At each reporting period, all assets and liabilities for which the fair value measurement is based on significant unobservable inputs are classified as Level 3. The fair value represents management’s best estimates based on a range of methodologies and assumptions. The carrying value of receivables and payables arising in the ordinary course of business approximate fair value because of the relatively short period of time between their origination and expected realization. The Company’s financial instruments consist primarily of cash and cash equivalents, receivables, payables and debt instruments. The carrying values of these financial instruments approximate their respective fair values as they are either short -
Recent Accounting Pronouncements	Recent Accounting Pronouncements There have been no recent accounting pronouncements not yet adopted by the Company which would have a material impact on the Company’s financial statements. Revenue from Contracts with Customers. Revenue from Contracts with Customers Revenue from Contracts with Customers Principals versus Agent Considerations, Revenue from Contracts with Customers Identifying Performance Obligations and Licensing Revenue Recognition Revenue from Contracts with Customers Leases Leases Amendments to SEC Paragraphs Pursuant to the Staff Announcement at the July 20, 2017 EITF Meeting and Recession of Prior SEC Staff Announcements and Observer Comments, In July 2015, the FASB approved a one-year deferral of the effective date to January 1, 2018, with early adoption to be permitted as of the original effective date of January 1, 2017. Once this standard becomes effective, companies may retrospective approach with the cumulative effect of initially adopting ASU 2014-09 recognized at the date of adoption (which includes additional footnote disclosures) (the “modified retrospective approach”). The Company completed a review of its various revenue streams within its two reportable segments: (i) T&D Solutions and (ii) Critical Power. We have gathered data to quantify the amount of sales by type of revenue stream and categorized the types of sales for our business units for the purpose of comparing how we currently recognize revenue to the new standard in order to quantify the impact of this ASU. We have made policy elections within the amended standard that are consistent with our current accounting. We adopted ASU 2014-09 in our first quarter of 2018 using the modified retrospective approach. We have performed a quantitative assessment of adopting ASU 2014-09 and concluded that there was no material impact to our financial statements other than enhanced disclosures and no changes to the opening retained earnings. Leases. Leases (Topic 842)” Share-Based Compensation Compensation-Stock Compensation Improvements to Employee Share-Based Payment Accounting We adopted ASU No. 2016-09 in 2017. The adoption of the new guidance did not materially affect our financial position, results of operations or cash flows. Statement of Cash Flows. In August 2016, the FASB issued ASU No. 2016-15, “ Statement of Cash Flows : Classification of Certain Cash Receipts and Cash Payments”. In October 2016, the FASB issued ASU No. 2016-16, “ Income Taxes (Topic 740)”: Intra-Entity Transfers of Assets Other Than Inventory. Simplifying the Test for Goodwill Impairment. Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost the FASB issued ASU No. 2017-07 Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost. We adopted Accounting Standards Update No. 2017-07, “ Improving the Presentation of Net Periodic Pension Cost and Net Periodic Postretirement Benefit Cost” Stock Compensation. Compensation – Stock Compensation (Topic 718): Improvements to Nonemployee Share-Based Payment Accounting. Fair Value Measurement. Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement

RESTRUCTURING AND INTEGRATION (

RESTRUCTURING AND INTEGRATION (Tables)	12 Months Ended
	Dec. 31, 2018
Restructuring and Related Activities [Abstract]
Schedule of components of restructuring and integration expenses, before taxes	The following is a summary of the components of restructuring and integration expenses, before taxes, relating to operating expenses during the year ended December 31, 2017: T&D Critical Power Year Ended December 31, 2017 Segment Segment Total Business integration expenses 219 — 219 Pre-tax restructuring and integration expense $ 219 $ — $ 219
Schedule of components and changes in the company's restructuring liability	The components and changes in the Company’s restructuring liability were as follows: Facility Severance and Product Line Closure and Related Harmonization Exit Costs Total Restructuring liability as of January 31, 2017 $ 113 $ 46 $ 592 $ 751 Restructuring and integration expense — — 219 219 Cash paid (113 ) (46 ) (811 ) (970 ) Restructuring liability as of December 31, 2017 $ — $ — $ — $ —

REVENUES (Tables)

REVENUES (Tables)	12 Months Ended
	Dec. 31, 2018
Revenue from Contract with Customer [Abstract]
Schedule of revenues disaggregated by revenue discipline	The following table presents our revenues disaggregated by revenue discipline: For the Year Ended December 31, 2018 2017 Products $ 96,590 $ 105,225 Services 9,800 9,166 Total Revenue $ 106,390 $ 114,391

INVENTORIES (Tables)

INVENTORIES (Tables)	12 Months Ended
	Dec. 31, 2018
Inventory Disclosure [Abstract]
Schedule of the components of inventories	The components of inventories are summarized below: December 31, 2018 2017 Raw materials $ 14,952 $ 10,376 Work in process 5,547 5,082 Finished goods 7,323 10,919 Provision for excess and obsolete inventory (512 ) (264 ) Total inventories $ 27,310 $ 26,113

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2018
Property, Plant and Equipment [Abstract]
Schedule of property, plant and equipment	Property, plant and equipment are summarized below: December 31, 2018 2017 Land $ 5 $ 50 Buildings 1,574 2,547 Machinery and equipment 10,578 10,668 Furniture and fixtures 447 475 Computer hardware and software 1,261 1,370 Leasehold improvements 677 721 Construction in progress 348 18 14,890 15,849 Less: Accumulated depreciation (9,606 ) (8,991 ) Total property, plant and equipment, net $ 5,284 $ 6,858

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	12 Months Ended
	Dec. 31, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of carrying amount of goodwill by reportable segment	Changes in the carrying amount of goodwill by reportable segment during the years ended December 31, 2018 and 2017 are as follows: T&D Critical Power Solutions Solutions Total Segment Segment Goodwill Gross Goodwill: Balance as of January 1, 2017 $ 7,978 $ 2,970 $ 10,948 No activity — — — Balance as of December 31, 2017 $ 7,978 $ 2,970 $ 10,948 Accumulated impairment losses: Balance as of January 1, 2017 $ (976 ) $ — $ (976 ) Impairment charges (1,445 ) — (1,445 ) Balance as of December 31, 2017 $ (2,421 ) $ — $ (2,421 ) Net Goodwill $ 5,557 $ 2,970 $ 8,527 Gross Goodwill: Balance as of January 1, 2018 $ 7,978 $ 2,970 $ 10,948 No activity — — — Balance as of December 31, 2018 $ 7,978 $ 2,970 $ 10,948 Accumulated impairment losses: Balance as of January 1, 2018 $ (2,421 ) $ — $ (2,421 ) No activity — — — Balance as of December 31, 2018 $ (2,421 ) $ — $ (2,421 ) Net Goodwill $ 5,557 $ 2,970 $ 8,527
Schedule of changes in intangible asset balances	Changes in intangible asset balances for the years ended December 31, 2018 and 2017 consisted of the following: T&D Critical Power Total Solutions Solutions Intangible Segment Segment Assets Balance as of January 1, 2017 $ 5,565 $ 2,603 $ 8,168 Amortization (415 ) (1,358 ) (1,773 ) Foreign currency translation 4 — 4 Balance as of December 31, 2017 $ 5,154 $ 1,245 $ 6,399 Amortization (339 ) (1,121 ) (1,460 ) Impairment charges (1,350 ) — (1,350 ) Foreign currency translation (5 ) — (5 ) Balance as of December 31, 2018 $ 3,460 $ 124 $ 3,584
Schedule of components of intangible assets	The components of intangible assets at December 31, 2018 are summarized below: Weighted Gross Carrying Accumulated Impairment Foreign Net Book Customer relationships 7 (a) $ 7,202 $ (6,175 ) $ (377 ) $ — $ 650 Non-compete agreements 4 (a) 705 (587 ) (103 ) — 15 Trademarks Indefinite 1,816 — — — 1,816 Internally developed software 7 289 (165 ) — — 124 Developed technology 10 492 (197 ) — — 295 Technology-related industry accreditations Indefinite (a) 1,576 — (870 ) (22 ) 684 Total intangible assets $ 12,080 $ (7,124 ) $ (1,350 ) $ (22 ) $ 3,58 4 (a) During 2018, the Company recorded impairment charges to customer relationships, non-compete agreements and technology-related industry accreditations intangible assets of the switchgear business upon determining that the carrying value of these assets was not recoverable. The components of intangible assets at December 31, 2017 are summarized below: Weighted Average Amortization Years Gross Carrying Amount Accumulated Amortization Foreign Currency Translation Net Book Value Customer relationships 7 $ 7,202 $ (4,907) $ - $ 2,295 Non-compete agreements 6 705 (485) - 220 Trademarks Indefinite 1,816 - - 1,816 Distributor territory license (a) 474 (474) - - Internally developed software 7 289 (124) - 165 Developed technology 10 492 (148) - 344 Technology-related industry accreditations Indefinite 1,576 - (17) 1,559 Total intangible assets $ 12,554 $ (6,138) $ (17) $ 6,399 (a) During 2017, the Company accelerated and fully amortized distributor territory license intangible asset upon the termination of its distribution agreement with a supplier.
Schedule of future amortization expense	Future scheduled annual straight-line amortization expense over the useful lives of finite life intangible assets is as follows: Years Ending December 31, Total 2019 $ 215 2020 200 2021 200 2022 124 2023 106 Thereafter 239 $ 1,084

DEBT (Tables)

DEBT (Tables)	12 Months Ended
	Dec. 31, 2018
Debt Disclosure [Abstract]
Schedule of long-term debt	Long-term debt consists of the following: December 31, 2018 2017 Term credit facilities, net (a) $ 3,793 $ 4,933 Capital lease obligations — 2 Total debt 3,793 4,935 Less current portion (1,174 ) (782 ) Total long-term debt $ 2,619 $ 4,153 (a) The balances as of December 31, 2018 and 2017 are net of debt issuance costs of $45 and $102, respectively.
Schedule of maturities of long-term debt	Excluding debt issuance costs of $45, the annual maturities of long-term debt at December 31, 2018, were as follows: Long-term Years Ending December 31, Debt Maturities 2019 $ 1,200 2020 2,638 2021 — 2022 — Thereafter — Total long-term debt maturities $ 3,838

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of component of lease expense	The components of the lease expense were as follows: For the Year Ended December 31, 2018 2017 Operating lease cost $ 755 $ 675 Finance lease cost Amortization of right-of-use asset $ 622 $ 535 Interest on lease liabilities 157 166 Total finance lease cost $ 779 $ 701
Schedule of other information related to leases	Other information related to leases was as follows: Supplemental Cash Flows Information December 31, 2018 2017 Cash paid for amounts included in the measurement of lease liabilities Operating cash flows from operating leases $ 768 $ 694 Operating cash flows from finance leases 157 166 Financing cash flows from finance leases 414 301 Right-of-use assets obtained in exchange for lease obligations: Operating leases 664 581 Finance leases 622 535 Weighted Average Remaining Lease Term December 31, 2018 2017 Operating leases 3 years 3 years Finance leases 6 years 7 years Weighted Average Discount Rate December 31, 2018 2017 Operating leases 6.00 % 5.50 % Finance leases 6.37 % 5.90 %
Schedule of future minimum lease payments	Future minimum lease payments under non-cancellable leases as of December 31, 2018 were as follows: Operating Finance Leases Leases 2019 $ 779 $ 630 2020 755 532 2021 410 562 2022 91 363 2023 — 309 Thereafter — 853 Total future minmum lease payments 2,035 3,249 Less imputed interest (164 ) (570 ) Total future minmum lease payments $ 1,871 $ 2,679
Schedule of reported amounts of lease liabilities	Reported as of December 31, 2018: Operating Finance Leases Leases Accounts payable and accrued liabilities $ 687 $ 473 Other long-term liabilities 1,187 2,205 Total $ 1,874 $ 2,678

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2018
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock option grants assumptions used in valuation model	The fair value of the stock options granted was measured using the Black-Scholes valuation model with the following assumptions: Year Ended December 31, 2018 2017 Expected volatility 29.3% 31.1 - 31.3% Expected life in years 5.5 5.5 - 6.0 Risk-free interest rate 2.65% 2.08 - 2.15% Dividend yield 0% 0%
Schedule of stock option activity under the 2011 Long-Term Incentive Plan	A summary of stock option activity for the years ended December 31, 2018 and 2017, and changes during the years then ended is presented below: Stock Weighted average Weighted Aggregate Outstanding as of January 1, 2017 247,400 $ 8.75 5.90 $ 135 Granted 262,000 7.30 9.20 81 Exercised (26,333 ) 4.55 Forfeited (47,267 ) 6.74 6.80 Outstanding as of January 1, 2018 435,800 $ 8.35 7.50 $ 216 Granted 7,000 5.60 Exercised — — Forfeited (18,000 ) 8.54 Outstanding as of December 31, 2018 424,800 $ 8.30 6.50 $ 22 Exercisable as of December 31, 2018 411,133 $ 8.36 6.40 $ 22
Schedule of weighted-average grant-date fair value of options, total intrinsic value of options exercised, and cash receipts from options exercised	A summary of the weighted-average grant-date fair value of options, total intrinsic value of options exercised, and cash receipts from options exercised is shown below: Year Ended December 31, 2018 2017 Weighted-average fair value of options granted (per share) $ 1.81 $ 2.40 Intrinsic value gain of options exercised — 81 Cash receipts from exercise of options — 120

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2018
Income Tax Disclosure [Abstract]
Schedule of components of loss before taxes	The components of income (loss) before income taxes are summarized below: Year Ended December 31, 2018 2017 Income/(loss) before income taxes U.S. operations $ (8,105 ) $ (7,721 ) Foreign operations 2,744 1,535 Loss before income taxes $ (5,361 ) $ (6,186 )
Schedule of components of the income tax provision	The components of the income tax provision were as follows : Year Ended December 31, 2018 2017 Current Federal $ — $ — State 71 176 Foreign 584 643 Deferred (352 ) 2,220 Total income tax provision $ 303 $ 3,039
Schedule of the reconciliation from the statutory U.S. income tax rate and the effective income tax rate	A reconciliation from the statutory U.S. income tax rate and the Company’s effective income tax rate, as computed on loss before taxes, is as follows: Year Ended December 31, 2018 2017 Federal income tax at statutory rate $ (1,126 ) $ (2,350 ) State and local income tax, net (314 ) (65 ) Foreign rate differential 157 (143 ) Other permanent items 397 86 Impact of tax cuts and jobs act enactment — 516 Impact of repatriation of foreign subsidiary income (330 ) 312 Valuation allowance 1,581 4,710 True-up & other (62 ) (27 ) Total $ 303 $ 3,039
Schedule of deferred income tax asset	The net deferred income tax asset was comprised of the following: December 31, 2018 2017 Noncurrent deferred income taxes Total assets $ 2,971 $ 2,729 Total liabilities (1,592 ) (1,665 ) Net noncurrent deferred income tax asset 1,379 1,064 Net deferred income tax asset $ 1,379 $ 1,064
Schedule of deferred income tax assets and liabilities	The tax effect of temporary differences between GAAP accounting and federal income tax accounting creating deferred income tax assets and liabilities were as follows: December 31, 2018 2017 Deferred tax assets Canada net operating loss carry forward $ 120 $ 148 U.S. net operating loss carry forward 659 — Non-deductible reserves 877 1,180 Non-deductible interest expense 800 — Pension plan 39 75 Tax credits 4,631 4,631 Fixed Assets 26 104 Intangibles 1,635 1,203 Other 465 116 Valuation allowance (6,281 ) (4,728 ) Net deferred tax assets 2,971 2,729 Deferred tax liabilities Fixed Assets, Land (313 ) (415 ) Intangibles (723 ) (764 ) Other (556 ) (486 ) Net deferred tax liability (1,592 ) (1,665 ) Deferred tax asset, net $ 1,379 $ 1,064
Schedule of gross unrecognized tax benefits	A reconciliation of the beginning and ending amount of gross unrecognized tax benefits, exclusive of interest and penalties, is as follows: Uncertain Tax Balance as of January 1, 2017 $ 204 Increases due to changes in foreign exchange 14 Balance as of December 31, 2017 $ 218 Decreases related to tax return becoming statuted barred during the year (89 ) Balance as of December 31, 2018 $ 129

PENSION PLAN (Tables)

PENSION PLAN (Tables)	12 Months Ended
	Dec. 31, 2018
Defined Benefit Plan [Abstract]
Schedule of pension plan expenses	The components of the expense the Company incurred under the pension plan are as follows: For the Year Ended Affected Line Item December 31, in the Statements of 2018 2017 Consolidated Operations Current service cost, net of employee contributions $ 54 $ 42 Selling, general and administrative Interest cost on accrued benefit obligation 98 103 Other expense Expected return on plan assets (168 ) (163 ) Other expense Amortization of transitional obligation 10 10 Other expense Amortization of past service costs 7 7 Other expense Amortization of net actuarial gain 54 47 Other expense Total cost of benefit $ 55 $ 46
Schedule of reconciliation of projected benefit obligation	The Company’s obligations pursuant to the pension plan are as follows: December 31, 2018 2017 Projected benefit obligation, at beginning of year $ 2,985 $ 2,628 Current service cost, net of employee contributions 54 42 Employee contributions 32 31 Interest cost 98 103 Impact of change in discount rate (219 ) 173 Benefits paid (166 ) (180 ) Foreign exchange adjustment (229 ) 188 Projected benefit obligation, at end of year $ 2,555 $ 2,985
Schedule of expected benefit payments	A summary of expected benefit payments related to the pension plan is as follows: Years Ending December 31, Pension Plan 2019 $ 152 2020 148 2021 145 2022 141 2023 137 2024-2028 660
Schedule of other changes in plan assets and benefit obligations recognized in other comprehensive income (loss)	Other changes in plan assets and benefit obligations recognized in other comprehensive income / (loss) are as follows: For the Year Ended December 31, 2018 2017 Net income/(loss) $ 15 $ (199 ) Amortization of prior service cost 7 7 Amortization of gain 54 47 Amortization of transitional asset 10 10 86 (135 ) Taxes 24 (27 ) Total recognized in other comprehensive income/(loss), net of taxes $ 62 $ (108 )
Schedule of amounts not yet been recognized as components of net benefit cost included in accumulated other comprehensive income (loss)	The accumulated other comprehensive income / (loss) consists of the following amounts that have not yet been recognized as components of net benefit cost: December 31, 2018 2017 Unrecognized prior service cost $ 81 $ 88 Unrecognized net actuarial loss 1,442 1,508 Unrecognized transitional obligation 35 46 Deferred income taxes (413 ) (435 ) Total $ 1,145 $ 1,207
Schedule of asset allocations	The asset allocation for the pension plan at the end of 2018 and 2017 and the target allocation for 2019, by asset category, is as follows: December 31, 2019 Target 2018 2017 Allocation Equity securities 36 % 34 % 36 % Fixed income securities 56 57 56 Real estate 8 7 8 Other 0 2 0 Total 100 % 100 % 100 %
Schedule of fair value of plan assets	The fair market values, by asset category are as follows: Fair Value Measurements at December 31, 2018 2017 Equity securities $ 867 $ 919 Fixed income securities 1,348 1,540 Real estate 192 189 Other — 54 Total $ 2,407 $ 2,702
Schedule of changes in the assets held by the pension plan	Changes in the assets held by the pension plan in the years 2018 and 2017 are as follows: December 31, 2018 2017 Fair value of plan assets, at beginning of year $ 2,702 $ 2,456 Actual return on plan assets (35 ) 136 Employer contributions 87 85 Employee contributions 32 31 Benefits paid (166 ) (180 ) Foreign exchange adjustment (213 ) 174 Fair value of plan assets, at end of year $ 2,407 $ 2,702
Schedule of funded status	The funded status of the pension plan is as follows: December 31, 2018 2017 Projected benefit obligation $ 2,555 $ 2,985 Fair value of plan assets 2,407 2,702 Accrued obligation (long term) $ 148 $ 283
Schedule of assumptions used in accounting for the pension plan	Assumptions used in accounting for the pension plan are as follows: December 31, 2018 2017 Weighted average discount rate used to determine the accrued benefit obligations 3.90 % 3.40 % Discount rate used to determine the net pension expense 3.40 % 3.80 % Expected long-term rate on plan assets 6.50 % 6.50 %

BUSINESS SEGMENT, GEOGRAPHIC _2

BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2018
Segment Reporting [Abstract]
Schedule of information about segment income and loss and segment assets	The following tables present information about segment income and loss: For the Year Ended December 31, 2018 2017 Revenues T&D Solutions Transformers $ 86,263 $ 86,325 Switchgear 8,747 13,001 $ 95,010 $ 99,326 Critical Power Solutions Equipment 1,580 5,898 Service 9,800 9,167 11,380 15,065 Consolidated $ 106,390 $ 114,391 For the Year Ended December 31, 2018 2017 Depreciation and Amortization T&D Solutions $ 1,525 $ 1,730 Critical Power Solutions 1,718 1,792 Unallocated Corporate Overhead Expenses 62 71 Consolidated $ 3,305 $ 3,593 For the Year Ended December 31, 2018 2017 Operating Income (Loss) T&D Solutions $ 3,155 $ 910 Critical Power Solutions (1,322 ) (682 ) Unallocated Corporate Overhead Expenses (3,706 ) (3,541 ) Consolidated $ (1,873 ) $ (3,313 ) The following table presents information which reconciles segment assets to consolidated total assets: December 31, 2018 2017 Assets T&D Solutions $ 59,432 $ 60,171 Critical Power Solutions 7,745 9,414 Corporate 5,335 4,670 Consolidated $ 72,512 $ 74,256
Schedule of revenues attributable to countries	Revenues are attributable to countries based on the location of the Company’s customers: December 31, 2018 2017 Revenues United States $ 74,122 $ 77,924 Canada 32,140 36,251 Others 128 216 Total $ 106,390 $ 114,391
Schedule of property, plant and equipment by geographic location	The distribution of the Company’s property, plant, and equipment by geographic location is approximately as follows: December 31, 2018 2017 Property, plant and equipment Canada $ 1,596 $ 2,801 United States 938 708 Mexico 2,750 3,349 Total $ 5,284 $ 6,858

BASIC AND DILUTED LOSS PER CO_2

BASIC AND DILUTED LOSS PER COMMON SHARE (Tables)	12 Months Ended
	Dec. 31, 2018
Earnings Per Share [Abstract]
Schedule of computation of basic and diluted loss per share	The following table sets forth the computation of basic and diluted loss per share (in thousands, except per share data): For the Year Ended December 31, 2018 2017 Numerator: Net loss $ (5,664 ) $ (9,225 ) Denominator: Weighted average basic shares outstanding 8,726 8,717 Effect of dilutive securities - equity based compensation plans — — Net dilutive effect of warrants outstanding — — Denominator for diluted net income per common share $ 8,726 $ 8,717 Net loss per common share: Basic $ (0.65 ) $ (1.06 ) Diluted $ (0.65 ) $ (1.06 ) Anti-dilutive securities (excluded from per share calculation): Equity based compensation plans $ 365 $ 383 Warrants $ — $ 51

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative) $ / shares in Units, $ in Thousands	Sep. 24, 2013USD ($)$ / sharesshares	Dec. 31, 2018USD ($)Segment	Dec. 31, 2017USD ($)Segment	Dec. 31, 2016USD ($)
Number of reportable segments | Segment		2	2
Issuance of common stock			$ 120
Net loss		$ (5,664)	(9,225)
Accumulated deficit		(6,127)	(463)
Debt		26,300
Cash and cash equivalents		211	$ 218	$ 246
Working capital deficit		$ 5,100
IPO [Member]
Issuance of common stock	$ 7,900
Issuance of common stock (in shares) | shares	1,265,000
Share price | $ / shares	$ 7

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)Segment	Dec. 31, 2017USD ($)Segment
Property, Plant and Equipment [Line Items]
Allowance for doubtful accounts	$ 200	$ 500
Number of reporting units with goodwill	2
Aggregate number of reporting units	4
Number of reportable segments | Segment	2	2
Impairment of goodwill		$ 1,445
Impairment charges	$ 1,350
Increase (decrease) in retained earnings	100
Increase (decrease) in assets	5,300
Increase (decrease) in liabilities	5,200
Non Complete Agreements [Member]
Property, Plant and Equipment [Line Items]
Impairment charges	103
Technology Related Industry [Member]
Property, Plant and Equipment [Line Items]
Impairment charges	870
Customer Relationships [Member]
Property, Plant and Equipment [Line Items]
Impairment charges	$ 377
Furniture and Fixtures [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Furniture and Fixtures [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	7 years
Building [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	25 years
Machinery and Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
Machinery and Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	15 years
Computer Equipment [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	3 years
Computer Equipment [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	5 years
T and D Segment [Member]
Property, Plant and Equipment [Line Items]
Impairment of goodwill		1,445
Impairment charges	$ 1,350
Allocated goodwill	5,600
Critical Power Segment [Member]
Property, Plant and Equipment [Line Items]
Impairment of goodwill
Allocated goodwill	$ 3,000

RESTRUCTURING AND INTEGRATION_2

RESTRUCTURING AND INTEGRATION (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Restructuring Cost and Reserve [Line Items]
Business integration expenses	$ 219
Pre-tax restructuring and integration expense	219
T and D Segment [Member]
Restructuring Cost and Reserve [Line Items]
Business integration expenses	219
Pre-tax restructuring and integration expense	219
Critical Power Segment [Member]
Restructuring Cost and Reserve [Line Items]
Pre-tax restructuring and integration expense

RESTRUCTURING AND INTEGRATION_3

RESTRUCTURING AND INTEGRATION (Details 1) $ in Thousands	12 Months Ended
	Dec. 31, 2018USD ($)
Restructuring Reserve [Roll Forward]
Restructuring liability beginning	$ 751
Restructuring and integration expense	219
Cash paid	(970)
Severance and Related [Member]
Restructuring Reserve [Roll Forward]
Restructuring liability beginning	113
Cash paid	(113)
Product Line Harmonization [Member]
Restructuring Reserve [Roll Forward]
Restructuring liability beginning	46
Cash paid	(46)
Facility Closure and Exit Costs [Member]
Restructuring Reserve [Roll Forward]
Restructuring liability beginning	592
Restructuring and integration expense	219
Cash paid	$ (811)

RESTRUCTURING AND INTEGRATION_4

RESTRUCTURING AND INTEGRATION (Details Narrative) $ in Thousands	12 Months Ended
	Dec. 31, 2017USD ($)
Restructuring and Related Activities [Abstract]
Restructuring charges	$ 873

REVENUES (Details)

REVENUES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Total Revenue	$ 106,390	$ 114,391
Products [Member]
Total Revenue	96,590	105,225
Services [Member]
Total Revenue	$ 9,800	$ 9,166

OTHER EXPENSE (Details Narrativ

OTHER EXPENSE (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Other Income and Expenses [Abstract]
Other expense	$ 826	$ 411

INVENTORIES (Details)

INVENTORIES (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Inventory Disclosure [Abstract]
Raw materials	$ 14,952	$ 10,376
Work in process	5,547	5,082
Finished goods	7,323	10,919
Provision for excess and obsolete inventory	(512)	(264)
Total inventories	$ 27,310	$ 26,113

INVENTORIES (Details Narrative)

INVENTORIES (Details Narrative) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Goods in transit	$ 7,700	$ 3,100
Short term borrowings		5,430
Inventory [Member]
Collateral pledged		$ 3,000

PROPERTY, PLANT AND EQUIPMENT_2

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 14,890	$ 15,849
Less: Accumulated depreciation	(9,606)	(8,991)
Total property, plant and equipment, net	5,284	6,858
Land [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	5	50
Building [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	1,574	2,547
Machinery and Equipment [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	10,578	10,668
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	447	475
Computer Hardware And Software [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	1,261	1,370
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	677	721
Construction in Progress [Member]
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 348	$ 18

PROPERTY, PLANT AND EQUIPMENT_3

PROPERTY, PLANT AND EQUIPMENT (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Depreciation expense	$ 1,200	$ 1,300
Building [Member] | Canada [Member]
Sale of building	$ 800

OTHER ASSETS (Details Narrative

OTHER ASSETS (Details Narrative) $ in Thousands	Jan. 31, 2012USD ($)Segment	Dec. 31, 2011USD ($)Segment	Dec. 31, 2018USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Other current assets			$ 600
Notes Receivable - Developer [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Principal amount	$ 300	$ 300
Number of promissory notes | Segment	2	2
Accrued interest rate (in percent)	4.50%	4.50%

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Goodwill
Balance, beginning	$ 10,948	$ 10,948
No activity
Balance, ending	10,948	10,948
Accumulated impairment losses:
Balance, beginning	(2,421)	(976)
Impairment charges		(1,445)
Balance, ending	(2,421)	(2,421)
Net Goodwill	8,527	8,527
T and D Segment [Member]
Goodwill
Balance, beginning	7,978	7,978
No activity
Balance, ending	7,978	7,978
Accumulated impairment losses:
Balance, beginning	(2,421)	(976)
Impairment charges		(1,445)
Balance, ending	(2,421)	(2,421)
Net Goodwill	5,557	5,557
Critical Power Segment [Member]
Goodwill
Balance, beginning	2,970	2,970
No activity
Balance, ending	2,970	2,970
Accumulated impairment losses:
Balance, beginning
Impairment charges
Balance, ending
Net Goodwill	$ 2,970	$ 2,970

GOODWILL AND OTHER INTANGIBLE_4

GOODWILL AND OTHER INTANGIBLE ASSETS (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Intangible assets, balance	$ 6,399
Amortization	(1,460)	$ (1,774)
Impairment charges	(1,350)
Intangible assets, balance	3,584	6,399
Total Intangible [Member]
Intangible assets, balance	6,399	8,168
Amortization	(1,460)	(1,773)
Impairment charges	(1,350)
Foreign currency translation	(5)	4
Intangible assets, balance	3,584	6,399
T and D Segment [Member]
Intangible assets, balance	5,154	5,565
Amortization	(339)	(415)
Impairment charges	(1,350)
Foreign currency translation	(5)	4
Intangible assets, balance	3,460	5,154
Critical Power Segment [Member]
Intangible assets, balance	1,245	2,603
Amortization	(1,121)	(1,358)
Intangible assets, balance	$ 124	$ 1,245

GOODWILL AND OTHER INTANGIBLE_5

GOODWILL AND OTHER INTANGIBLE ASSETS (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018		Dec. 31, 2017
Gross carrying amount	$ 12,080		$ 12,554
Accumulated amortization	(7,124)		(6,138)
Impairment charges	(1,350)
Foreign currency translation	(22)		(17)
Intangible assets, net	3,584		6,399
Technology Related Industry Accreditations [Member]
Gross carrying amount	1,576		1,576
Foreign currency translation	(22)		(17)
Intangible assets, net	$ 684		$ 1,559
Customer Relationships [Member]
Weighted average amortization years	7 years	[1]	7 years
Gross carrying amount	$ 7,202		$ 7,202
Accumulated amortization	(6,175)		(4,907)
Impairment charges	(377)
Intangible assets, net	$ 650		$ 2,295
Noncompete Agreements [Member]
Weighted average amortization years	4 years	[1]	6 years
Gross carrying amount	$ 705		$ 705
Accumulated amortization	(587)		(485)
Impairment charges	(103)
Intangible assets, net	$ 15		$ 220
Internally Developed Software [Member]
Weighted average amortization years	7 years		7 years
Gross carrying amount	$ 289		$ 289
Accumulated amortization	(165)		(124)
Intangible assets, net	$ 124		$ 165
Developed Technology [Member]
Weighted average amortization years	10 years		10 years
Gross carrying amount	$ 492		$ 492
Accumulated amortization	(197)		(148)
Intangible assets, net	295		344
Technology Related Industry Accreditations [Member]
Impairment charges	(870)
Trademarks [Member]
Gross carrying amount	1,816		1,816
Intangible assets, net	$ 1,816		1,816
Distributor Territory License [Member]
Gross carrying amount			474
Accumulated amortization			$ (474)
[1]	During 2018, the Company recorded impairment charges to customer relationships, non-compete agreements and technology-related industry accreditations intangible assets of the switchgear business upon determining that the carrying value of these assets was not recoverable.

GOODWILL AND OTHER INTANGIBLE_6

GOODWILL AND OTHER INTANGIBLE ASSETS (Details 3) $ in Thousands	Dec. 31, 2018USD ($)
Years Ending December 31,:
2019	$ 215
2020	200
2021	200
2022	124
2023	106
Thereafter	239
Total	$ 1,084

GOODWILL AND OTHER INTANGIBLE_7

GOODWILL AND OTHER INTANGIBLE ASSETS (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Impairment charges	$ 1,350
Impairment charge for goodwill		$ 1,445
Non Complete Agreements [Member]
Impairment charges	103
Technology Related Industry [Member]
Impairment charges	870
Customer Relationships [Member]
Impairment charges	$ 377

DEBT (Details)

DEBT (Details) - USD ($) $ in Thousands		Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Total debt		$ 3,793	$ 4,935
Less current portion		(1,174)	(782)
Total long-term debt		2,619	4,153
Term Credit Facilities, Net [Member]
Debt Instrument [Line Items]
Total debt	[1]	$ 3,793	4,933
Capital Lease Obligations [Member]
Debt Instrument [Line Items]
Total debt			$ 2
[1]	The balances as of December 31, 2018 and 2017 are net of debt issuance costs of $45 and $102, respectively.

DEBT (Details 1)

DEBT (Details 1) $ in Thousands	Dec. 31, 2018USD ($)
Long-term debt maturities
2019	$ 1,200
2020	2,638
Total long-term debt maturities	$ 3,838

DEBT (Details Narrative)

DEBT (Details Narrative) - USD ($) $ in Thousands	Mar. 28, 2018	Mar. 15, 2017	Jun. 30, 2016	Apr. 30, 2016	Dec. 31, 2018	Mar. 15, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Credit facilities amount outstanding					$ 20,755		$ 17,814
Canadian Facilities [Member]
Debt Instrument [Line Items]
Maximum credit facilities amount to borrow				$ 6,300
Credit facilities amount outstanding					5,800
Canadian Facilities [Member] | Canada, Dollars
Debt Instrument [Line Items]
Maximum credit facilities amount to borrow				$ 8,200		$ 9,200
Canadian Credit Facilities A [Member]
Debt Instrument [Line Items]
Credit facilities amount outstanding					5,800		2,900
Canadian Credit Facilities A [Member] | 2017 CAD ARCA Amendment [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				0.75%
Variable rate description				BMO's prime rate plus
Canadian Credit Facilities A [Member] | 2017 CAD ARCA Amendment [Member] | U.S. Base Rate [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				0.75%
Variable rate description				U.S. base rate plus
Canadian Credit Facilities A [Member] | 2017 CAD ARCA Amendment [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				2.25%
Variable rate description				LIBOR plus
Canadian Credit Facilities A [Member] | 2018 CAD ARCA Amendment [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				0.50%
Variable rate description				BMO's prime rate plus
Canadian Credit Facilities A [Member] | 2018 CAD ARCA Amendment [Member] | U.S. Base Rate [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				0.50%
Variable rate description				U.S. base rate plus
Canadian Credit Facilities A [Member] | 2018 CAD ARCA Amendment [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				2.00%
Variable rate description				LIBOR plus
Canadian Credit Facilities A [Member] | Canada, Dollars
Debt Instrument [Line Items]
Maximum credit facilities amount to borrow				$ 7,000		$ 8,000
Canadian Credit Facilities B [Member]
Debt Instrument [Line Items]
Credit facilities amount outstanding							100
Canadian Credit Facilities B [Member] | Canada, Dollars
Debt Instrument [Line Items]
Maximum credit facilities amount to borrow				$ 471
Canadian Credit Facilities B [Member] | Canada, Dollars | 2017 CAD ARCA Amendment [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				1.25%
Variable rate description				BMO's prime rate plus
Frequency of payments		Quarterly		Quarterly
Quarterly principal payment		$ 47		$ 47
Balloon payment				$ 141
Debt instrument amortization period				5 years
Canadian Credit Facilities B [Member] | Canada, Dollars | 2018 CAD ARCA Amendment [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				1.25%
Variable rate description				BMO's prime rate plus
Frequency of payments				Quarterly
Quarterly principal payment				$ 47
Canadian Credit Facilities C [Member]
Debt Instrument [Line Items]
Maximum credit facilities amount to borrow				$ 712
Credit facilities amount outstanding					352		500
Canadian Credit Facilities C [Member] | 2017 CAD ARCA Amendment [Member]
Debt Instrument [Line Items]
Frequency of payments		Quarterly
Quarterly principal payment		$ 36
Balloon payment		$ 352
Canadian Credit Facilities C [Member] | 2017 CAD ARCA Amendment [Member] | U.S. Base Rate [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				1.50%
Variable rate description				U.S. base rate plus
Canadian Credit Facilities C [Member] | 2017 CAD ARCA Amendment [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				2.75%
Variable rate description				LIBOR plus
Canadian Credit Facilities C [Member] | 2018 CAD ARCA Amendment [Member]
Debt Instrument [Line Items]
Frequency of payments	Quarterly
Quarterly principal payment	$ 36
Balloon payment				$ 136
Canadian Credit Facilities C [Member] | 2018 CAD ARCA Amendment [Member] | U.S. Base Rate [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				1.25%
Variable rate description				U.S. base rate plus
Canadian Credit Facilities C [Member] | 2018 CAD ARCA Amendment [Member] | LIBOR [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				2.50%
Variable rate description				LIBOR plus
Canadian Credit Facilities C [Member] | CAD ARCA Amendment [Member]
Debt Instrument [Line Items]
Quarterly principal payment			$ 72
Balloon payment				$ 496
Canadian Credit Facilities C [Member] | Canada, Dollars
Debt Instrument [Line Items]
Quarterly principal payment					$ 316
Canadian Credit Facilities C [Member] | Canada, Dollars | 2017 CAD ARCA Amendment [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				1.50%
Variable rate description				BMO's prime rate plus
Frequency of payments				Quarterly
Quarterly principal payment				$ 36
Canadian Credit Facilities C [Member] | Canada, Dollars | 2018 CAD ARCA Amendment [Member]
Debt Instrument [Line Items]
Interest rate spread on variable rate				1.25%
Variable rate description				BMO's prime rate plus
Canadian Credit Facilities [Member]
Debt Instrument [Line Items]
Credit facilities amount outstanding							$ 3,500

DEBT (Details Narrative 1)

DEBT (Details Narrative 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Mar. 15, 2018	Dec. 31, 2017	Apr. 30, 2016
Line of Credit Facility [Line Items]
Credit facilities amount outstanding	$ 20,755		$ 17,814
Debt issuance costs	$ 47		102
U.S. Credit Facilities [Member]
Line of Credit Facility [Line Items]
Maximum Credit Facilities Amount to Borrow				$ 19,100
Percentage of subsidiary shares used to secure borrowings in facility	65.00%
Credit facilities amount outstanding	$ 18,800		19,400
U.S. Credit Facilities [Member] | 2017 US ARCA Amendment [Member]
Line of Credit Facility [Line Items]
Maximum Credit Facilities Amount to Borrow		$ 20,100
U.S. Credit Facilities A [Member]
Line of Credit Facility [Line Items]
Maximum Credit Facilities Amount to Borrow				14,000
U.S. Credit Facilities A [Member] | 2017 US ARCA Amendment [Member]
Line of Credit Facility [Line Items]
Maximum Credit Facilities Amount to Borrow		$ 15,000
U.S. Credit Facilities A [Member] | 2017 US ARCA Amendment [Member] | Bank's Prime Rate [Member]
Line of Credit Facility [Line Items]
Interest rate spread	1.00%
Variable rate description	bank's prime rate on U.S. prime rate loans
U.S. Credit Facilities A [Member] | 2017 US ARCA Amendment [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Interest rate spread	2.25%
Variable rate description	adjusted LIBOR rate on Eurodollar loans
U.S. Credit Facilities A [Member] | 2018 US ARCA Amendment [Member] | Bank's Prime Rate [Member]
Line of Credit Facility [Line Items]
Interest rate spread	0.75%
Variable rate description	bank's prime rate on U.S. prime rate loans
U.S. Credit Facilities A [Member] | 2018 US ARCA Amendment [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Interest rate spread	2.00%
Variable rate description	adjusted LIBOR rate on Eurodollar loans
United States Credit Facilities B [Member]
Line of Credit Facility [Line Items]
Maximum Credit Facilities Amount to Borrow				5,000
United States Credit Facilities B [Member] | 2017 US ARCA Amendment [Member]
Line of Credit Facility [Line Items]
Frequency of payments	Quarterly
Quarterly principal payment	$ 31
Balloon payment	$ 4,438
United States Credit Facilities B [Member] | 2017 US ARCA Amendment [Member] | LIBOR [Member]
Line of Credit Facility [Line Items]
Interest rate spread	2.50%
Variable rate description	adjusted LIBOR rate on Eurodollar loans
United States Credit Facilities B [Member] | 2017 US ARCA Amendment [Member] | U.S. Base Rate [Member]
Line of Credit Facility [Line Items]
Interest rate spread	1.25%
Variable rate description	bank's prime rate on U.S. prime rate loans
United States Credit Facilities B [Member] | 2018 US ARCA Amendment [Member]
Line of Credit Facility [Line Items]
Frequency of payments	Quarterly
Quarterly principal payment	$ 100
Balloon payment	$ 2,338
U.S. Credit Facility - MasterCard [Member]
Line of Credit Facility [Line Items]
Maximum Credit Facilities Amount to Borrow				$ 100
Credit Facility B [Member] | 2017 US ARCA Amendment [Member]
Line of Credit Facility [Line Items]
Frequency of payments	Quarterly
Quarterly principal payment	$ 31
U.S. Facilities A [Member]
Line of Credit Facility [Line Items]
Credit facilities amount outstanding	15,000		14,900
USD Facility B [Member]
Line of Credit Facility [Line Items]
Credit facilities amount outstanding	$ 3,800		$ 4,500

DEBT (Details Narrative 2)

DEBT (Details Narrative 2) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt issuance costs	$ 47	$ 102
Short term borrowings		5,430
Nexus Promissory Note [Member]
Debt Instrument [Line Items]
Debt issuance costs	$ 45	$ 102

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Commitments and Contingencies Disclosure [Abstract]
Operating lease cost	$ 755	$ 675
Finance lease cost
Amortization of right-of-use asset	622	535
Interest on lease liabilities	157	166
Total finance lease cost	$ 779	$ 701

COMMITMENTS AND CONTINGENCIES_3

COMMITMENTS AND CONTINGENCIES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Cash paid for amounts included in the mesurement of lease liabilities
Operating cash flows from operating leases	$ 768	$ 694
Operating cash flows from finance leases	157	166
Financing cash flows from finance leases	414	301
Right-of-use assets obtained in exchange for lease obligations:
Operating leases	664	581
Finance leases	$ 622	$ 535
Operating leases (in years)	3 years	3 years
Finance leases (in years)	6 years	7 years
Operating leases (in percent)	6.00%	5.50%
Finance leases (in percent)	6.37%	5.90%

COMMITMENTS AND CONTINGENCIES_4

COMMITMENTS AND CONTINGENCIES (Details 2) $ in Thousands	Dec. 31, 2018USD ($)
Operating Leases
2019	$ 779
2020	755
2021	410
2022	91
Total future minmum lease payments	2,035
Less imputed interest	(164)
Total future minimum lease payments	1,871
Finance Leases
2019	630
2020	532
2021	562
2022	363
2023	309
Thereafter	853
Total lease commitments	3,249
Less imputed interest	(570)
Total future minimum lease payments	$ 2,679

COMMITMENTS AND CONTINGENCIES_5

COMMITMENTS AND CONTINGENCIES (Details 3) $ in Thousands	Dec. 31, 2018USD ($)
Operating leases	$ 1,874
Finance leases	2,678
Accounts Payable and Accrued Liabilities [Member]
Operating leases	687
Finance leases	473
Other Long Term Liabilities [Member]
Operating leases	1,187
Finance leases	$ 2,205

COMMITMENTS AND CONTINGENCIES_6

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Lease extended term (in years)	10 years
Assets under finance leases	$ 3,339	$ 2,900
Accumulated amortization associated with finance leases	$ 880	$ 418
Minimum [Member]
Remaining lease term (in years)	1 year
Maximum [Member]
Remaining lease term (in years)	7 years

STOCKHOLDERS' EQUITY (Details N

STOCKHOLDERS' EQUITY (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Stockholders' equity
Common stock, outstanding shares	8,726,045	8,726,045
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Outstanding purchase of warrants (in shares)		50,600
Weighted average exercise price - warrants		$ 7
Warrant expiration date range end		Sep. 18, 2018
Preferred stock, authorized	5,000,000	5,000,000
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Foreign currency translation adjustments	$ (161)	$ 174

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	29.30%
Expected life in years	5 years 6 months
Risk-free interest rate	2.65%
Dividend yield	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility		31.10%
Expected life in years		5 years 6 months
Risk-free interest rate		2.08%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility		31.30%
Expected life in years		6 years
Risk-free interest rate		2.15%

STOCK-BASED COMPENSATION (Det_2

STOCK-BASED COMPENSATION (Details 1) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Stock options
Outstanding at beginning of period	435,800	247,400
Granted	7,000	262,000
Exercised		(26,333)
Forfeited	(18,000)	(47,267)
Outstanding at end of period	424,800	435,800
Exercisable at end of period	411,133
Weighted average exercise price
Outstanding at beginning of period	$ 8.35	$ 8.75
Granted	5.60	7.30
Exercised		4.55
Forfeited	8.54	6.74
Outstanding at end of period	8.30	$ 8.35
Exercisable at end of period	$ 8.36
Weighted average remaining contractual term
Outstanding at beginning of period	7 years 6 months	5 years 10 months 24 days
Granted		9 years 2 months 12 days
Forfeited		6 years 9 months 18 days
Outstanding at end of period	6 years 6 months	7 years 6 months
Exercisable at the end of period	6 years 4 months 24 days
Aggregate intrinsic value
Outstanding at beginning of period	$ 216	$ 135
Granted		81
Outstanding at end of period	22	$ 216
Exercisable at end of period	$ 22

STOCK-BASED COMPENSATION (Det_3

STOCK-BASED COMPENSATION (Details 2) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Weighted-average fair value of options granted (per share)	$ 1.81	$ 2.40
Intrinsic value gain of options exercised		$ 81
Cash receipts from exercise of options		$ 120

STOCK-BASED COMPENSATION (Det_4

STOCK-BASED COMPENSATION (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 02, 2009
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total options granted	424,800	435,800	247,400
Stock-based compensation expense	$ 200	$ 500
Remaining recognized stock-based compensation expense	$ 1,400
2011 Long-Term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved	700,000
Common stock reserved for future issuance	248,867
2009 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock reserved for future issuance				320,000
Incentive Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total options granted	21,000
Non Qualified Stock Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total options granted	403,800

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Income/(loss) before income taxes
U.S. operations	$ (8,105)	$ (7,721)
Foreign operations	2,744	1,535
Loss before taxes	$ (5,361)	$ (6,186)

INCOME TAXES (Details 1)

INCOME TAXES (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Current
State	$ 71	$ 176
Foreign	584	643
Deferred	(352)	2,220
Total	$ 303	$ 3,039

INCOME TAXES (Details 2)

INCOME TAXES (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Reconciliation from the statutory U.S. income tax rate and the Company's effective income tax rate:
Federal income tax at statutory rate	$ (1,126)	$ (2,350)
State and local income tax, net	(314)	(65)
Foreign rate differential	157	(143)
Other permanent items	397	86
Impact of Tax Cuts and Jobs Act Enactment		516
Impact of repatriation of foreign subsidiary income	(330)	312
Valuation allowance	1,581	4,710
True-up and other	(62)	(27)
Total	$ 303	$ 3,039

INCOME TAXES (Details 3)

INCOME TAXES (Details 3) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Total assets	$ 2,971	$ 2,729
Total liabilities	(1,592)	(1,665)
Net noncurrent deferred income tax asset	1,379	1,064
Net deferred income tax asset	$ 1,379	$ 1,064

INCOME TAXES (Details 4)

INCOME TAXES (Details 4) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Deferred tax assets
Canada net operating loss carryforward	$ 120	$ 148
U.S. net operating loss carry forward	659
Non-deductible reserves	877	1,180
Non-deductible interest expense	800
Pension plan	39	75
Tax credits	4,631	4,631
Fixed assets	26	104
Intangibles	1,635	1,203
Other	465	116
Valuation allowance	(6,281)	(4,728)
Net deferred tax assets	2,971	2,729
Deferred tax liabilities
Fixed Assets, Land	(313)	(415)
Intangibles	(723)	(764)
Other	(556)	(486)
Net deferred tax liability	(1,592)	(1,665)
Deferred asset, net	$ 1,379	$ 1,064

INCOME TAXES (Details 5)

INCOME TAXES (Details 5) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns
Unrecognized Tax Benefits, beginning	$ 218	$ 204
Decreases related to tax return becoming statuted barred during the year	(89)
Increases due to changes in foreign exchange		14
Unrecognized Tax Benefits, ending	$ 129	$ 218

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 29, 2019	Dec. 31, 2018	Dec. 31, 2017
Effective tax rate		5.70%	49.10%
Loss on foreign exchange upon realization of dvidend		$ 341	$ 325
Net operating loss carryforwards		2,600
Valuation allowance on deferred tax assets		6,281	$ 4,728
Research and Development Tax Credit Carryforward [Member]
Tax credits carryforwards		39
Foreign Tax Credit Carryforward [Member]
Tax credits carryforwards		4,600
Deferred tax assets (partial valuation allowance)		4,600
Valuation allowance on deferred tax assets		$ 1,600
Subsequent Event [Member] | Pioneer Electrogroup Canada Inc. [Member]
Dividends from foreign subsidiary	$ 9,724
Withholding taxes on dividends	486
Loss on foreign exchange upon realization of dvidend	$ (446)

PENSION PLAN (Details)

PENSION PLAN (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan [Abstract]
Current service cost, net of employee contributions	$ 54	$ 42
Interest cost on accrued benefit obligation	98	103
Expected return on plan assets	(168)	(163)
Amortization of transitional obligation	10	10
Amortization of past service costs	7	7
Amortization of net actuarial gain	54	47
Total cost of benefit	$ 55	$ 46

PENSION PLAN (Details 1)

PENSION PLAN (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan [Abstract]
Projected benefit obligation, at beginning of year	$ 2,985	$ 2,628
Current service cost, net of employee contributions	54	42
Employee contributions	32	31
Interest cost	98	103
Impact of change in discount rate	(219)	173
Benefits paid	(166)	(180)
Foreign exchange adjustment	(229)	188
Projected benefit obligation, at end of year	$ 2,555	$ 2,985

PENSION PLAN (Details 2)

PENSION PLAN (Details 2) $ in Thousands	Dec. 31, 2018USD ($)
Expected Benefit Payments:
2019	$ 152
2020	148
2021	145
2022	141
2023	137
2024-2028	$ 660

PENSION PLAN (Details 3)

PENSION PLAN (Details 3) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan [Abstract]
Net income/(loss)	$ 15	$ (199)
Amortization of prior service cost	7	7
Amortization of gain	54	47
Amortization of transitional asset	10	10
Total, pre tax	86	(135)
Taxes	24	(27)
Total recognized in other comprehensive income/(loss), net of taxes	$ 62	$ (108)

PENSION PLAN (Details 4)

PENSION PLAN (Details 4) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Accumulated Other Comprehensive Income (Loss):
Unrecognized prior service cost	$ 81	$ 88
Unrecognized net actuarial loss	1,442	1,508
Unrecognized transitional obligation	35	46
Deferred income taxes	(413)	(435)
Total	$ 1,145	$ 1,207

PENSION PLAN (Details 5)

PENSION PLAN (Details 5) - Pension Plan [Member]	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan Disclosure [Line Items]
Allocation at December 31	100.00%	100.00%
Target allocation for 2019	100.00%
Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Allocation at December 31	36.00%	34.00%
Target allocation for 2019	36.00%
Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Allocation at December 31	56.00%	57.00%
Target allocation for 2019	56.00%
Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Allocation at December 31	8.00%	7.00%
Target allocation for 2019	8.00%
Other Asset Categories [Member]
Defined Benefit Plan Disclosure [Line Items]
Allocation at December 31	0.00%	2.00%
Target allocation for 2019	0.00%

PENSION PLAN (Details 6)

PENSION PLAN (Details 6) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	$ 2,407	$ 2,702	$ 2,456
Pension Plan [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	2,407	2,702
Pension Plan [Member] | Equity Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	867	919
Pension Plan [Member] | Fixed Income Securities [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	1,348	1,540
Pension Plan [Member] | Real Estate [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets	$ 192	189
Pension Plan [Member] | Other Asset Categories [Member]
Defined Benefit Plan Disclosure [Line Items]
Defined Benefit Plan, Fair Value of Plan Assets		$ 54

PENSION PLAN (Details 7)

PENSION PLAN (Details 7) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan [Abstract]
Fair value of plan assets, at beginning of year	$ 2,702	$ 2,456
Actual return on plan assets	(35)	136
Employer contributions	87	85
Employee contributions	32	31
Benefits paid	(166)	(180)
Foreign exchange adjustment	(213)	174
Fair value of plan assets, at end of year	$ 2,407	$ 2,702

PENSION PLAN (Details 8)

PENSION PLAN (Details 8) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Defined Benefit Plan [Abstract]
Projected benefit obligation	$ 2,555	$ 2,985	$ 2,628
Fair value of plan assets	2,407	2,702	$ 2,456
Accrued obligation (long term)	$ 148	$ 283

PENSION PLAN (Details 9)

PENSION PLAN (Details 9)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan [Abstract]
Weighted average discount rate used to determine the accrued benefit obligations	3.90%	3.40%
Discount rate used to determine the net pension expense	3.40%	3.80%
Expected long-term rate on plan assets	6.50%	6.50%

PENSION PLAN (Details Narrative

PENSION PLAN (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Defined Benefit Plan [Abstract]
Funded contributions by subsidiary (percent)	100.00%
Defined benefit contributions	$ 100	$ 100

BUSINESS SEGMENT, GEOGRAPHIC _3

BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenues
Revenues	$ 106,390	$ 114,391
Depreciation and Amortization	3,305	3,593
Operating Income (Loss)	(1,873)	(3,313)
Assets	72,512	74,255
T and D Segment [Member]
Revenues
Transformers	86,263	86,325
Switchgear	8,747	13,001
Revenues	95,010	99,326
Depreciation and Amortization	1,525	1,730
Operating Income (Loss)	3,155	910
Assets	59,432	60,171
Critical Power Segment [Member]
Revenues
Equipment	1,580	5,898
Service	9,800	9,167
Revenues	11,380	15,065
Depreciation and Amortization	1,718	1,792
Operating Income (Loss)	(1,322)	(682)
Assets	7,745	9,414
Corporate [Member]
Revenues
Depreciation and Amortization	62	71
Operating Income (Loss)	(3,706)	(3,541)
Assets	$ 5,335	$ 4,670

BUSINESS SEGMENT, GEOGRAPHIC _4

BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Revenues	$ 106,390	$ 114,391
United States [Member]
Revenues	74,122	77,924
Canada [Member]
Revenues	32,140	36,251
Other Countries [Member]
Revenues	$ 128	$ 216

BUSINESS SEGMENT, GEOGRAPHIC _5

BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION (Details 2) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Property, plant and equipment	$ 5,284	$ 6,858
Canada [Member]
Property, plant and equipment	1,596	2,801
United States [Member]
Property, plant and equipment	938	708
Mexico
Property, plant and equipment	$ 2,750	$ 3,349

BUSINESS SEGMENT, GEOGRAPHIC _6

BUSINESS SEGMENT, GEOGRAPHIC AND CUSTOMER INFORMATION (Details Narrative) - Segment	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Number of reportable segments	2	2
Sales [Member] | Customer - Siemens [Member]
Sales (percent)	17.00%	18.00%
Sales [Member] | Customer - Hydro-Quebec Utility Company [Member]
Sales (percent)	10.00%	11.00%

BASIC AND DILUTED LOSS PER CO_3

BASIC AND DILUTED LOSS PER COMMON SHARE (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Numerator:
Net loss	$ (5,664)	$ (9,225)
Denominator:
Weighted average basic shares outstanding	8,726	8,717
Denominator for diluted net income per common share	8,726	8,717
Net loss per common share:
Basic (in dollars per share)	$ (0.65)	$ (1.06)
Diluted (in dollars per share)	$ (0.65)	$ (1.06)
Equity Based Compensation Plans [Member]
Anti-dilutive securities (excluded from per share calculation):
Equity based compensation plans	365	383
Warrant [Member]
Anti-dilutive securities (excluded from per share calculation):
Equity based compensation plans		51

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - $ / shares	1 Months Ended
	Jan. 22, 2019	Dec. 31, 2018	Dec. 31, 2017
Common stock, par value (in dollars per share)		$ 0.001	$ 0.001
Common stock, issued		8,726,045	8,726,045
PCPI [Member] | Subsequent Event [Member]
Common stock, par value (in dollars per share)	$ 0.001
Nevada corporation (CleanSpark) [Member] | Subsequent Event [Member] | Contract Manufacturing Agreement [Member]
Target price (percent)	91.00%
Target price maximum (percent)	109.00%
Contract agreement term	18 months
Nevada corporation (CleanSpark) [Member] | Subsequent Event [Member] | Common Stock [Member]
Common stock, par value (in dollars per share)	$ 0.001
Number of shares converted	1,750,000
Nevada corporation (CleanSpark) [Member] | Subsequent Event [Member] | Common Stock [Member] | Warrant [Member]
Number of shares converted	500,000
Common stock, issued	1.60
Warrant term	5 years
Nevada corporation (CleanSpark) [Member] | Subsequent Event [Member] | Common Stock [Member] | Warrant 1 [Member]
Common stock, issued	2
Warrant term	5 years