Acorn Energy (ACFN) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - $ / shares	6 Months Ended
	Jun. 30, 2024	Aug. 06, 2024
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Jun. 30, 2024
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Current Fiscal Year End Date	--12-31
Entity File Number	001-33886
Entity Registrant Name	ACORN ENERGY, INC.
Entity Central Index Key	0000880984
Entity Tax Identification Number	22-2786081
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1000 N West Street
Entity Address, Address Line Two	Suite 1200
Entity Address, City or Town	Wilmington
Entity Address, State or Province	DE
Entity Address, Postal Zip Code	19801
City Area Code	770
Local Phone Number	209-0012
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		2,487,307
Entity Listing, Par Value Per Share	$ 0.01

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash	$ 1,463	$ 1,449
Accounts receivable, net	540	536
Inventory, net	731	962
Deferred cost of goods sold (COGS)	608	809
Other current assets	392	280
Total current assets	3,734	4,036
Property and equipment, net	552	570
Right-of-use assets, net	139	193
Deferred COGS	226	476
Other assets	118	174
Total assets	4,769	5,449
Current liabilities:
Accounts payable	288	288
Accrued expenses	123	132
Deferred revenue	3,590	4,034
Current operating lease liabilities	127	123
Other current liabilities	29	30
Total current liabilities	4,157	4,607
Long-term liabilities:
Deferred revenue	990	1,550
Noncurrent operating lease liabilities	33	98
Other long-term liabilities	22	20
Total liabilities	5,202	6,275
Commitments and contingencies (Note 7)
Acorn Energy, Inc. stockholders
Common stock - $0.01 par value per share: 42,000,000 shares authorized, 2,537,485 and 2,534,969 shares issued at June 30, 2024 and December 31, 2023, respectively, and 2,487,307 and 2,484,791 shares outstanding at June 30, 2024 and December 31, 2023, respectively	25	25
Additional paid-in capital	103,372	103,321
Accumulated stockholders’ deficit	(100,812)	(101,148)
Treasury stock, at cost – 50,178 shares at June 30, 2024 and December 31, 2023	(3,036)	(3,036)
Total Acorn Energy, Inc. stockholders’ deficit	(451)	(838)
Non-controlling interest	18	12
Total deficit	(433)	(826)
Total liabilities and deficit	$ 4,769	$ 5,449

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	42,000,000	42,000,000
Common stock, shares issued	2,537,485	2,534,969
Common stock, shares outstanding	2,487,307	2,484,791
Treasury stock, common shares	50,178	50,178

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Revenue		$ 2,275	$ 1,973	$ 4,407	$ 3,722
COGS		610	483	1,151	916
Gross profit		1,665	1,490	3,256	2,806
Operating expenses:
Research and development expenses (R&D)		226	188	464	402
Selling, general and administrative (SG&A) expenses		1,181	1,219	2,456	2,416
Total operating expenses		1,407	1,407	2,920	2,818
Operating income (loss)		258	83	336	(12)
Interest income, net		18	16	33	27
Income before income taxes		276	99	369	15
Income tax expense				25
Net income		276	99	344	15
Non-controlling interest share of income		(5)	(3)	(8)	(4)
Net income attributable to Acorn Energy, Inc. stockholders		$ 271	$ 96	$ 336	$ 11
Basic and diluted net income per share attributable to Acorn Energy, Inc stockholders – basic and diluted
Basic	[1]	$ 0.11	$ 0.04	$ 0.14	$ 0
Diluted	[1]	$ 0.11	$ 0.04	$ 0.13	$ 0
Weighted average number of shares outstanding attributable to Acorn Energy, Inc. stockholders – basic and diluted
Basic	[1]	2,487	2,485	2,487	2,484
Diluted	[1]	2,507	2,487	2,501	2,486
[1]As adjusted to reflect the September 2023 1-for-16

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Operations (Unaudited) (Parenthetical)	Sep. 05, 2023
Income Statement [Abstract]
Reverse stock split	1-for-16

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Changes in Deficit (Unaudited) - USD ($) $ in Thousands		Total	Common Stock [Member]		Additional Paid-in Capital [Member]	[1]	Retained Earnings [Member]	Treasury Stock, Common [Member]	Parent [Member]	Noncontrolling Interest [Member]
Balance at Dec. 31, 2022		$ (1,011)	$ 25	[1]	$ 103,261		$ (101,267)	$ (3,036)	$ (1,017)	$ 6
Balance, shares at Dec. 31, 2022	[1]		2,482,000					50,000
Net income (loss)		(84)		[1]			(85)		(85)	1
Proceeds from warrant exercise		5		[1],[2]	5				5
Proceeds from warrant exercise, shares	[1]		2,000
Accrued dividend in OmniMetrix preferred shares		(1)		[1]						(1)
Stock-based compensation		17		[1]	17				17
Balance at Mar. 31, 2023		(1,074)	$ 25	[1]	103,283		(101,352)	$ (3,036)	(1,080)	6
Balance, shares at Mar. 31, 2023	[1]		2,484,000					50,000
Balance at Dec. 31, 2022		(1,011)	$ 25	[1]	103,261		(101,267)	$ (3,036)	(1,017)	6
Balance, shares at Dec. 31, 2022	[1]		2,482,000					50,000
Net income (loss)		15
Balance at Jun. 30, 2023		(963)	$ 25	[1]	103,296		(101,256)	$ (3,036)	(971)	8
Balance, shares at Jun. 30, 2023	[1]		2,484,000					50,000
Balance at Mar. 31, 2023		(1,074)	$ 25	[1]	103,283		(101,352)	$ (3,036)	(1,080)	6
Balance, shares at Mar. 31, 2023	[1]		2,484,000					50,000
Net income (loss)		99		[1]			96		96	3
Accrued dividend in OmniMetrix preferred shares		(1)		[1]						(1)
Stock-based compensation		13		[1]	13				13
Balance at Jun. 30, 2023		(963)	$ 25	[1]	103,296		(101,256)	$ (3,036)	(971)	8
Balance, shares at Jun. 30, 2023	[1]		2,484,000					50,000
Balance at Dec. 31, 2023		(826)	$ 25	[1]	103,321		(101,148)	$ (3,036)	(838)	12
Balance, shares at Dec. 31, 2023	[1]		2,484,000					50,000
Net income (loss)		68		[1]			65		65	3
Proceeds from stock option exercise		13		[1],[2]	13				13
Proceeds from stock option exercise, shares	[1]		3,000
Accrued dividend in OmniMetrix preferred shares		(1)		[1]						(1)
Stock-based compensation		27		[1]	27				27
Balance at Mar. 31, 2024		(719)	$ 25	[1]	103,361		(101,083)	(3,036)	(733)	14
Balance, shares at Mar. 31, 2024	[1]		2,487,000
Balance at Dec. 31, 2023		(826)	$ 25	[1]	103,321		(101,148)	$ (3,036)	(838)	12
Balance, shares at Dec. 31, 2023	[1]		2,484,000					50,000
Net income (loss)		$ 344
Proceeds from stock option exercise, shares		2,812
Balance at Jun. 30, 2024		$ (433)	$ 25	[1]	103,372		(100,812)	$ (3,036)	(451)	18
Balance, shares at Jun. 30, 2024	[1]		2,487,000					50,000
Balance at Mar. 31, 2024		(719)	$ 25	[1]	103,361		(101,083)	$ (3,036)	(733)	14
Balance, shares at Mar. 31, 2024	[1]		2,487,000
Net income (loss)		276		[1]			271		271	5
Accrued dividend in OmniMetrix preferred shares		(1)		[1]						(1)
Stock-based compensation		11		[1]	11				11
Balance at Jun. 30, 2024		$ (433)	$ 25	[1]	$ 103,372		$ (100,812)	$ (3,036)	$ (451)	$ 18
Balance, shares at Jun. 30, 2024	[1]		2,487,000					50,000
[1]As adjusted to account for the September 2023 1-for-16

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Deficit (Unaudited) (Parenthetical)	Sep. 05, 2023
Equity [Abstract]
Reverse stock split	1-for-16

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows provided by operating activities:
Net income	$ 344	$ 15
Depreciation and amortization	58	76
(Decrease) increase in the provision for credit loss	(7)
Impairment of inventory	19	8
Non-cash lease expense	64	63
Stock-based compensation	38	30
Change in operating assets and liabilities:
Decrease (increase) in accounts receivable	3	(104)
Decrease (increase) in inventory	212	(22)
Decrease in deferred COGS	451	44
Increase in other current assets and other assets	(56)	(119)
(Decrease) increase in deferred revenue	(1,004)	196
Decrease in operating lease liability	(71)	(67)
Decrease in accounts payable, accrued expenses, other current liabilities and non-current liabilities	(10)	35
Net cash provided by operating activities	41	155
Cash flows used in investing activities:
Investments in technology	(36)	(37)
Equipment purchases	(4)
Net cash used in investing activities	(40)	(37)
Cash flows provided by financing activities:
Stock option exercise proceeds	13
Warrant exercise proceeds		5
Net cash provided by financing activities	13	5
Net increase in cash	14	123
Cash at the beginning of the period	1,449	1,450
Cash at the end of the period	1,463	1,573
Cash paid during the year for:
Interest	1	1
Income Taxes	2
Non-cash investing and financing activities:
Accrued preferred dividends to former CEO of OmniMetrix	$ 2	$ 2

BASIS OF PRESENTATION

BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
BASIS OF PRESENTATION	NOTE 1— BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of Acorn Energy, Inc. (“Acorn”) and its subsidiaries, OmniMetrix, LLC (“OmniMetrix”) and OMX Holdings, Inc. (collectively, with Acorn and OmniMetrix, “the Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete consolidated financial statements. The December 31, 2023 consolidated balance sheet data were derived from audited financial statements but do not include all disclosures required by accounting principles generally accepted in the United States of America. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the six- and three-month periods ended June 30, 2024 and 2023 are not necessarily indicative of the results that may be expected for the year ending December 31, 2024. All dollar amounts, except per share data, are rounded to the nearest thousand and, thus, are approximate. These unaudited condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on March 7, 2024. Reverse Stock Split On September 5, 2023, the Board of Directors of Acorn approved a Certificate of Amendment to Acorn’s Restated Certificate of Incorporation (the “Certificate of Amendment”) that provided for a 1-for-16 347

ACCOUNTING POLICIES

ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
ACCOUNTING POLICIES	NOTE 2— ACCOUNTING POLICIES Use of Estimates in Preparation of Financial Statements The preparation of unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates. Concentrations of Credit Risk Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and trade accounts receivable. The Company’s cash was deposited with a U.S. bank and amounted to $ 1,463,000 represented 10 12 At June 30, 2024, the Company did not have any customers that represented 10 25 was due from one customer which was subsequently collected in full. Credit risk with respect to the balance of trade receivables is generally diversified due to the number of entities comprising the Company’s customer base. Although we do not believe there is significant risk of non-performance by these counterparties, any failures or defaults on their part could negatively impact the value of our financial instruments and could have a material adverse effect on our business, operations or financial condition. Inventory Inventories are comprised of components (raw materials), work-in-process and finished goods, which are measured at the lower of cost or net realizable value. Raw materials inventory is generally comprised of radios, cables, antennas, and electrical components. Finished goods inventory consists of fully assembled systems ready for final shipment to the customer. Costs are determined at cost of acquisition on a weighted average basis and include all outside production and applicable shipping costs. All inventories are periodically reviewed to identify slow-moving and obsolete inventory. Management conducts an assessment at each reporting period of the Company’s inventory reserve and writes off any inventory items that are deemed obsolete. Revenue Recognition The Company’s revenue recognition policy is consistent with applicable revenue recognition guidance and interpretations. The core principle of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, is to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASC 606 defines a five-step process to achieve this core principle, which includes: (1) identifying contracts with customers, (2) identifying performance obligations within those contracts, (3) determining the transaction price, (4) allocating the transaction price to the performance obligation in the contract, which may include an estimate of variable consideration, and (5) recognizing revenue when or as each performance obligation is satisfied. The Company assesses whether payment terms are customary or extended in accordance with normal practice relative to the market in which the sale is occurring. The Company’s sales arrangements generally include standard payment terms. These terms effectively relate to all customers, products, and arrangements regardless of customer type, product mix or arrangement size. See Note 10, Revenue, for further discussion. Revenue from sales of the hardware products that are distinct products are recorded when shipped while the revenue from sales of the hardware products (product versions sold prior to September 1, 2023) that were not separable from the Company’s monitoring services was deferred and amortized over the estimated unit life. Revenue from the prepayment of monitoring fees (generally paid twelve months in advance) is recorded as deferred revenue upon receipt of payment from the customer and then amortized to revenue over the monitoring service period. See Notes 9 and 10 for the disaggregation of the Company’s revenue for the periods presented. Any sales tax, value added tax, and other tax the Company collects concurrent with revenue producing activities are excluded from revenue. Income Taxes The Company is subject to U.S. federal income tax and income taxes imposed in the state and local jurisdictions where it operates its businesses. Deferred income taxes are determined using the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rates is recognized in income in the period that includes the enactment date. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will be realized. The income tax expense in the six-month period ended June 30, 2024 represents the estimated state tax of various states on the 2023 income of OmniMetrix. Basic and Diluted Net Income Per Share Basic net income per share is computed by dividing the net income attributable to Acorn Energy, Inc. by the weighted average number of shares outstanding during the period, excluding treasury stock. Diluted net income per share is computed by dividing the net income by the weighted average number of shares outstanding plus the dilutive potential of common shares which would result from the exercise of stock options and warrants. The dilutive effects of stock options and warrants are excluded from the computation of diluted net income per share if doing so would be antidilutive. The combined weighted average number of options (as adjusted to account for the September 2023 1-for-16 reverse stock split) that were excluded from the computation of diluted net income per share, as they had an antidilutive effect, was 26,000 8.13 15,000 9.17 50,000 7.20 58,000 6.89 The following table represents the amounts used in computing earnings per share and the effect on net income and the weighted average number of shares of dilutive potential common stock (as adjusted to account for the September 2023 1-for-16 reverse stock split) and is in thousands, except per share data: SCHEDULE OF EFFECT ON NET INCOME LOSS AND WEIGHTED AVERAGE NUMBER OF SHARES 2024 2023 2024 2023 Six months ended June 30, Three months ended June 30, 2024 2023 2024 2023 Net income attributable to common stockholders $ 336 $ 11 $ 271 $ 96 Weighted average share outstanding: -Basic 2,487 2,484 2,487 2,485 Add: Stock options 14 2 20 2 -Diluted 2,501 2,486 2,507 2,487 Basic net income per share $ 0.14 $ 0.00 $ 0.11 $ 0.04 Diluted net income per share $ 0.13 $ 0.00 $ 0.11 $ 0.04 Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregated information about a reporting entity’s effective tax rate reconciliation, as well as information related to income taxes paid to enhance the transparency and decision usefulness of income tax disclosures. This ASU will be effective for the annual period ending December 31, 2025. The Company is currently evaluating the timing and impacts of adoption of this ASU.

LIQUIDITY

LIQUIDITY	6 Months Ended
	Jun. 30, 2024
Liquidity
LIQUIDITY	NOTE 3— LIQUIDITY As of June 30, 2024, the Company had $ 1,463,000 At June 30, 2024, the Company had a negative working capital of $ 423,000 1,463,000 3,590,000 1,004,000 5,584,000 4,580,000 14,000 41,000 40,000 13,000 As of August 6, 2024, the Company had cash of $ 1,546,000

ALLOWANCE FOR CREDIT LOSSES

ALLOWANCE FOR CREDIT LOSSES	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
ALLOWANCE FOR CREDIT LOSSES	NOTE 4— ALLOWANCE FOR CREDIT LOSSES For the Company, ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments,” applies to its contract assets (deferred COGS and deferred sales commissions), lease receivables (sublease, see Note 6) and trade receivables. There are no expected or estimated credit losses on the Company’s contract assets or its lease receivable based on the Company’s implementation of ASU 2016-13. The Company’s trade receivables primarily arise from the sale of our products to independent residential dealers, industrial distributors and dealers, national and regional retailers, equipment distributors, solar installers, and certain end users with payment terms generally ranging from 30 to 60 days. The Company evaluates the credit risk of a customer when extending credit based on a combination of various financial and qualitative factors that may affect the customers’ ability to pay. These factors include the customers’ financial condition and past payment experience. The Company maintains an allowance for credit losses, which represents an estimate of expected losses over the remaining contractual life of its receivables considering current market conditions and estimates for supportable forecasts when appropriate. The Company measures expected credit losses on its trade receivables on an entity-by-entity basis. The estimate of expected credit losses considers a historical loss experience rate that is adjusted for delinquency trends, collection experience, and/or economic risk where appropriate. Additionally, management develops a specific allowance for trade receivables known to have a high risk of expected future credit loss. The Company has historically experienced immaterial write-offs given the nature of the customers that receive credit. As of June 30, 2024, the Company had gross receivables of $ 545,000 5,000 The following is a tabular reconciliation of the Company’s allowance for credit losses: SCHEDULE OF ALLOWANCES FOR CREDIT LOSSES June 30, 2024 December 31, 2023 As of June 30, 2024 December 31, 2023 (in thousands) Balance at beginning of period $ 10 $ 10 Provision for credit losses adjustment (7 ) 2 Net credits (charge-offs) 2 (2 ) Balance at end of period $ 5 $ 10

INVENTORY

INVENTORY	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
INVENTORY	NOTE 5— INVENTORY SCHEDULE OF INVENTORY June 30, 2024 December 31, 2023 As of June 30, 2024 December 31, 2023 (in thousands) Raw materials $ 683 $ 904 Finished goods 48 58 Inventory net $ 731 $ 962 At June 30, 2024 and December 31, 2023, the Company’s inventory reserve was $ 10,000 8,000

LEASES

LEASES	6 Months Ended
	Jun. 30, 2024
Leases
LEASES	NOTE 6— LEASES OmniMetrix leases office space and office equipment under operating lease agreements. The office lease has an expiration date of September 30, 2025 64,000 63,000 32,000 32,000 4.5 160,000 4.5 Leases Supplemental cash flow information related to leases consisted of the following (in thousands): SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES For the Six Months Ending June 30, 2024 2023 Cash paid for operating lease liabilities $ 64 $ 63 Supplemental balance sheet information related to leases consisted of the following: SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES 2024 Weighted average remaining lease terms for operating leases 1.25 The table below reconciles the undiscounted future minimum lease payments under non-cancelable lease agreements having initial terms of more than one year to the total operating lease liabilities recognized on the unaudited condensed consolidated balance sheet as of June 30, 2024 (in thousands): SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS Year ended June 30, 2025 $ 131 2026 33 Total undiscounted cash flows 164 Less: Imputed interest (4 ) Present value of operating lease liabilities ( a $ 160 (a) Includes current portion of $ 127,000 On July 6, 2021, the Company entered into an agreement with King Industrial Realty, Inc., to sublease from the Company 1,900 21,000 2,375 7,000 3,000 16,000 2,220 SCHEDULE OF SUBLEASES Year ended June 30, 2025 $ 29 2026 7 Total undiscounted cash flows $ 36

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 7— COMMITMENTS AND CONTINGENCIES The Company has $ 160,000 565,000 242,000 208,000 105,000 468,000

STOCKHOLDERS_ DEFICIT

STOCKHOLDERS’ DEFICIT	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
STOCKHOLDERS’ DEFICIT	NOTE 8— STOCKHOLDERS’ DEFICIT (a) General At June 30, 2024, Acorn had 2,537,485 2,487,307 0.01 The Company is not authorized to issue preferred stock. Accordingly, no preferred stock is issued or outstanding. (b) Summary Employee Option Information The Company’s stock option plans provide for the grant to officers, directors and employees of options to purchase shares of common stock. The purchase price may be paid in cash or, if the option is “in-the-money” at the end of the option term, it is automatically exercised “net”. In a net exercise of an option, the Company does not require a payment of the exercise price of the option from the optionee but reduces the number of shares of common stock issued upon the exercise of the option by the smallest number of whole shares that has an aggregate fair market value equal to or in excess of the aggregate exercise price for the option shares covered by the option exercised. Each option is exercisable for one share of the Company’s common stock. Most options expire within five to ten years from the date of the grant, and generally vest over a three-year period from the date of the grant. At June 30, 2024, 68,869 During the six-month period ended June 30, 2024, 7,900 No 2,500 2,200 2,200 1,000 no During the six- and three-month periods ended June 30, 2024, 2,812 SCHEDULE OF BLACK-SCHOLES OPTION PRICING ESTIMATE FAIR VALUE Number of Options (in shares) Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at December 31, 2023 71,893 $ 6.41 3.8 $ 40,000 Granted 7,900 6.08 Exercised (2,812 ) 5.12 Forfeited or expired — — Outstanding at June 30, 2024 76,981 $ 6.42 3.7 $ 258,000 Exercisable at June 30, 2024 68,038 $ 6.45 3.4 $ 227,000 The fair value of the options granted of $ 47,000 SCHEDULE OF STOCK OPTIONS FAIR VALUE ASSUMPTIONS ESTIMATED USING BLACK-SCHOLES Risk-free interest rate 3.9 % Expected term of options 4.9 Expected annual volatility 194.1 % Expected dividend yield — % (c) Stock Option Compensation Expense Stock option compensation expense included in selling, general and administrative expenses in the Company’s unaudited condensed consolidated statements of operations was $ 38,000 30,000 11,000 13,000 The total compensation cost related to non-vested awards not yet recognized was $ 31,000

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
SEGMENT REPORTING	NOTE 9— SEGMENT REPORTING As of June 30, 2024, the Company operates in two reportable operating segments, both of which are performed through the Company’s OmniMetrix subsidiary: ● Power Generation (“PG”). ● Cathodic Protection (“CP”). TM The Company’s reportable segments are strategic business units, offering different products and services, and are managed separately as each business requires different technology and marketing strategies. The following tables represent segmented data for the six- and three-month periods ended June 30, 2024 and 2023 (in thousands): SUMMARY OF SEGMENTED DATA PG CP Total Six months ended June 30, 2024: Revenues from external customers $ 3,855 $ 552 $ 4,407 Segment gross profit $ 2,934 $ 322 $ 3,256 Depreciation and amortization $ 51 $ 7 $ 58 Segment income (loss) before income taxes $ 936 $ (33 ) $ 903 Six months ended June 30, 2023: Revenues from external customers $ 3,196 $ 526 $ 3,722 Segment gross profit $ 2,495 $ 311 $ 2,806 Depreciation and amortization $ 65 $ 11 $ 76 Segment income (loss) before income taxes $ 530 $ (40 ) $ 490 Three months ended June 30, 2024: Revenues from external customers $ 2,061 $ 214 $ 2,275 Segment gross profit $ 1,536 $ 129 $ 1,665 Depreciation and amortization $ 27 $ 3 $ 30 Segment income (loss) before income taxes $ 520 $ (15 ) $ 505 Three months ended June 30, 2023: Revenues from external customers $ 1,689 $ 284 $ 1,973 Segment gross profit $ 1,316 $ 174 $ 1,490 Depreciation and amortization $ 32 $ 6 $ 38 Segment income before income taxes $ 331 $ 8 $ 339 The Company does not currently break out total assets by reportable segment as there is a high level of shared utilization between the segments. Further, the Chief Decision Maker does not review the assets by segment. Reconciliation of Segment Income to Consolidated Net Income Before Income Taxes SCHEDULE OF RECONCILIATION OF SEGMENT DATA TO CONSOLIDATED STATEMENT OF OPERATIONS 2024 2023 2024 2023 Six months ended June 30, Three months ended June 30, 2024 2023 2024 2023 (in thousands) Total net income before income taxes for reportable segments $ 903 $ 490 $ 505 $ 339 Unallocated cost of corporate headquarters (534 ) (475 ) (229 ) (240 ) Consolidated net income before income taxes $ 369 $ 15 $ 276 $ 99

REVENUE

REVENUE	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
REVENUE	NOTE 10— REVENUE The following table disaggregates the Company’s revenue for the six- and three-month periods ended June 30, 2024 and 2023 (in thousands): SCHEDULE OF DISAGGREGATES OF REVENUE Hardware Monitoring Total Six months ended June 30, 2024: PG Segment $ 1,767 $ 2,088 $ 3,855 CP Segment 428 124 552 Total Revenue $ 2,195 $ 2,212 $ 4,407 Hardware Monitoring Total Six months ended June 30, 2023: PG Segment $ 1,237 $ 1,959 $ 3,196 CP Segment 396 130 526 Total Revenue $ 1,633 $ 2,089 $ 3,722 Hardware Monitoring Total Three months ended June 30, 2024: PG Segment $ 1,014 $ 1,047 $ 2,061 CP Segment 151 63 214 Total Revenue $ 1,165 $ 1,110 $ 2,275 Hardware Monitoring Total Three months ended June 30, 2023: PG Segment $ 688 $ 1,001 $ 1,689 CP Segment 220 64 284 Total Revenue $ 908 $ 1,065 $ 1,973 Deferred revenue activity for the six months ended June 30, 2024 can be seen in the table below (in thousands): SCHEDULE OF DEFERRED REVENUE ACTIVITY Hardware Monitoring Total Balance at December 31, 2023 $ 2,965 $ 2,619 $ 5,584 Additions during the period — 2,235 2,235 Recognized as revenue (1,027 ) (2,212 ) (3,239 ) Balance at June 30, 2024 $ 1,938 $ 2,642 $ 4,580 Amounts to be recognized as revenue in the twelve-month-period ending: June 30, 2025 $ 1,400 2,190 3,590 June 30, 2026 534 448 982 June 30, 2027 and thereafter 4 4 8 Total $ 1,938 2,642 4,580 The amount of hardware revenue recognized during the six months ended June 30, 2024 that was included in deferred revenue at the beginning of the fiscal year was $ 1,027,000 1,633,000 The following table provides a reconciliation of the Company’s hardware revenue for the six- and three-month periods ended June 30, 2024 and 2023 (in thousands): SCHEDULE OF RECONCILIATION OF HARDWARE REVENUE Reconciliation of Hardware Revenue 2024 2023 2024 2023 Six months ended June 30, Three months ended June 30, Reconciliation of Hardware Revenue 2024 2023 2024 2023 Amortization of deferred revenue $ 1,027 $ 1,192 $ 492 $ 607 Sales of custom designed units and related accessories — 92 — 92 Hardware sales (new product versions) 955 — 579 — Other accessories, services, shipping and miscellaneous charges 213 349 94 209 Total hardware revenue $ 2,195 $ 1,633 $ 1,165 $ 908 Deferred COGS relate only to the sale of equipment. Deferred COGS activity for the six-month period ended June 30, 2024 can be seen in the table below (in thousands): SCHEDULE OF DEFERRED CHARGES ACTIVITY Balance at December 31, 2023 $ 1,285 Additions, net of adjustments, during the period — Recognized as COGS (451 ) Balance at June 30, 2024 $ 834 Amounts to be recognized as COGS in the twelve-month-period ending: June 30, 2025 $ 608 June 30, 2026 224 June 30, 2027 and thereafter 2 $ 834 The following table provides a reconciliation of the Company’s COGS expense for the six- and three-month periods ended June 30, 2024 and 2023 (in thousands): SCHEDULE OF RECONCILIATION OF COGS EXPENSE Reconciliation of COGS Expense 2024 2023 2024 2023 Six months ended June 30, Three months ended June 30, Reconciliation of COGS Expense 2024 2023 2024 2023 Amortization of deferred COGS $ 451 $ 540 $ 216 $ 272 COGS of custom designed units and related accessories — 23 — 23 COGS of hardware sales (new product versions) 430 — 268 — Data costs for monitoring 123 148 61 73 Other COGS of accessories, services, shipping and miscellaneous charges 147 205 66 115 Total COGS expense $ 1,151 $ 916 $ 610 $ 483 The following table provides a reconciliation of the Company’s sales commissions contract assets for the six-month period ended June 30, 2024 (in thousands): SCHEDULE OF SALES COMMISSIONS CONTRACT ASSETS Hardware Monitoring Total Balance at December 31, 2023 $ 268 $ 96 $ 364 Additions during the period — 21 21 Amortization of sales commissions (91 ) (21 ) (112 ) Balance at June 30, 2024 $ 177 96 273 The capitalized sales commissions are included in other current assets ($ 167,000 106,000 202,000 162,000 Amounts to be recognized as sales commission expense in the twelve-month-period ending (in thousands): SCHEDULE OF SALES COMMISSIONS EXPENSE June 30, 2025 $ 167 June 30, 2026 82 June 30, 2027 and thereafter 24 Total $ 273

RELATED PARTY BALANCES AND TRAN

RELATED PARTY BALANCES AND TRANSACTIONS	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
RELATED PARTY BALANCES AND TRANSACTIONS	NOTE 11— RELATED PARTY BALANCES AND TRANSACTIONS Officer and Director Fees The Company recorded consulting service fees 269,000 261,000 135,000 131,000 The Company recorded fees to directors of $ 37,000 34,000 19,000 19,000

ACCOUNTING POLICIES (Policies)

ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Use of Estimates in Preparation of Financial Statements	Use of Estimates in Preparation of Financial Statements The preparation of unaudited condensed consolidated financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities as of the date of the unaudited condensed consolidated financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ from those estimates.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments, which potentially subject the Company to concentrations of credit risk, consist principally of cash and trade accounts receivable. The Company’s cash was deposited with a U.S. bank and amounted to $ 1,463,000 represented 10 12 At June 30, 2024, the Company did not have any customers that represented 10 25 was due from one customer which was subsequently collected in full. Credit risk with respect to the balance of trade receivables is generally diversified due to the number of entities comprising the Company’s customer base. Although we do not believe there is significant risk of non-performance by these counterparties, any failures or defaults on their part could negatively impact the value of our financial instruments and could have a material adverse effect on our business, operations or financial condition.
Inventory	Inventory Inventories are comprised of components (raw materials), work-in-process and finished goods, which are measured at the lower of cost or net realizable value. Raw materials inventory is generally comprised of radios, cables, antennas, and electrical components. Finished goods inventory consists of fully assembled systems ready for final shipment to the customer. Costs are determined at cost of acquisition on a weighted average basis and include all outside production and applicable shipping costs. All inventories are periodically reviewed to identify slow-moving and obsolete inventory. Management conducts an assessment at each reporting period of the Company’s inventory reserve and writes off any inventory items that are deemed obsolete.
Revenue Recognition	Revenue Recognition The Company’s revenue recognition policy is consistent with applicable revenue recognition guidance and interpretations. The core principle of Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, is to recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration that is expected to be received for those goods or services. ASC 606 defines a five-step process to achieve this core principle, which includes: (1) identifying contracts with customers, (2) identifying performance obligations within those contracts, (3) determining the transaction price, (4) allocating the transaction price to the performance obligation in the contract, which may include an estimate of variable consideration, and (5) recognizing revenue when or as each performance obligation is satisfied. The Company assesses whether payment terms are customary or extended in accordance with normal practice relative to the market in which the sale is occurring. The Company’s sales arrangements generally include standard payment terms. These terms effectively relate to all customers, products, and arrangements regardless of customer type, product mix or arrangement size. See Note 10, Revenue, for further discussion. Revenue from sales of the hardware products that are distinct products are recorded when shipped while the revenue from sales of the hardware products (product versions sold prior to September 1, 2023) that were not separable from the Company’s monitoring services was deferred and amortized over the estimated unit life. Revenue from the prepayment of monitoring fees (generally paid twelve months in advance) is recorded as deferred revenue upon receipt of payment from the customer and then amortized to revenue over the monitoring service period. See Notes 9 and 10 for the disaggregation of the Company’s revenue for the periods presented. Any sales tax, value added tax, and other tax the Company collects concurrent with revenue producing activities are excluded from revenue.
Income Taxes	Income Taxes The Company is subject to U.S. federal income tax and income taxes imposed in the state and local jurisdictions where it operates its businesses. Deferred income taxes are determined using the liability method. Deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which these temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in the tax rates is recognized in income in the period that includes the enactment date. In addition, a valuation allowance is established to reduce any deferred tax asset for which it is determined that it is more likely than not that some portion of the deferred tax asset will be realized. The income tax expense in the six-month period ended June 30, 2024 represents the estimated state tax of various states on the 2023 income of OmniMetrix.
Basic and Diluted Net Income Per Share	Basic and Diluted Net Income Per Share Basic net income per share is computed by dividing the net income attributable to Acorn Energy, Inc. by the weighted average number of shares outstanding during the period, excluding treasury stock. Diluted net income per share is computed by dividing the net income by the weighted average number of shares outstanding plus the dilutive potential of common shares which would result from the exercise of stock options and warrants. The dilutive effects of stock options and warrants are excluded from the computation of diluted net income per share if doing so would be antidilutive. The combined weighted average number of options (as adjusted to account for the September 2023 1-for-16 reverse stock split) that were excluded from the computation of diluted net income per share, as they had an antidilutive effect, was 26,000 8.13 15,000 9.17 50,000 7.20 58,000 6.89 The following table represents the amounts used in computing earnings per share and the effect on net income and the weighted average number of shares of dilutive potential common stock (as adjusted to account for the September 2023 1-for-16 reverse stock split) and is in thousands, except per share data: SCHEDULE OF EFFECT ON NET INCOME LOSS AND WEIGHTED AVERAGE NUMBER OF SHARES 2024 2023 2024 2023 Six months ended June 30, Three months ended June 30, 2024 2023 2024 2023 Net income attributable to common stockholders $ 336 $ 11 $ 271 $ 96 Weighted average share outstanding: -Basic 2,487 2,484 2,487 2,485 Add: Stock options 14 2 20 2 -Diluted 2,501 2,486 2,507 2,487 Basic net income per share $ 0.14 $ 0.00 $ 0.11 $ 0.04 Diluted net income per share $ 0.13 $ 0.00 $ 0.11 $ 0.04
Recent Accounting Pronouncements	Recent Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures In December 2023, the FASB issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregated information about a reporting entity’s effective tax rate reconciliation, as well as information related to income taxes paid to enhance the transparency and decision usefulness of income tax disclosures. This ASU will be effective for the annual period ending December 31, 2025. The Company is currently evaluating the timing and impacts of adoption of this ASU.

ACCOUNTING POLICIES (Tables)

ACCOUNTING POLICIES (Tables)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
SCHEDULE OF EFFECT ON NET INCOME LOSS AND WEIGHTED AVERAGE NUMBER OF SHARES	The following table represents the amounts used in computing earnings per share and the effect on net income and the weighted average number of shares of dilutive potential common stock (as adjusted to account for the September 2023 1-for-16 reverse stock split) and is in thousands, except per share data: SCHEDULE OF EFFECT ON NET INCOME LOSS AND WEIGHTED AVERAGE NUMBER OF SHARES 2024 2023 2024 2023 Six months ended June 30, Three months ended June 30, 2024 2023 2024 2023 Net income attributable to common stockholders $ 336 $ 11 $ 271 $ 96 Weighted average share outstanding: -Basic 2,487 2,484 2,487 2,485 Add: Stock options 14 2 20 2 -Diluted 2,501 2,486 2,507 2,487 Basic net income per share $ 0.14 $ 0.00 $ 0.11 $ 0.04 Diluted net income per share $ 0.13 $ 0.00 $ 0.11 $ 0.04

ALLOWANCE FOR CREDIT LOSSES (Ta

ALLOWANCE FOR CREDIT LOSSES (Tables)	6 Months Ended
	Jun. 30, 2024
Receivables [Abstract]
SCHEDULE OF ALLOWANCES FOR CREDIT LOSSES	The following is a tabular reconciliation of the Company’s allowance for credit losses: SCHEDULE OF ALLOWANCES FOR CREDIT LOSSES June 30, 2024 December 31, 2023 As of June 30, 2024 December 31, 2023 (in thousands) Balance at beginning of period $ 10 $ 10 Provision for credit losses adjustment (7 ) 2 Net credits (charge-offs) 2 (2 ) Balance at end of period $ 5 $ 10

INVENTORY (Tables)

INVENTORY (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
SCHEDULE OF INVENTORY	SCHEDULE OF INVENTORY June 30, 2024 December 31, 2023 As of June 30, 2024 December 31, 2023 (in thousands) Raw materials $ 683 $ 904 Finished goods 48 58 Inventory net $ 731 $ 962

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Jun. 30, 2024
Leases
SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES	Supplemental cash flow information related to leases consisted of the following (in thousands): SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES For the Six Months Ending June 30, 2024 2023 Cash paid for operating lease liabilities $ 64 $ 63
SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES	Supplemental balance sheet information related to leases consisted of the following: SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES 2024 Weighted average remaining lease terms for operating leases 1.25
SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS	The table below reconciles the undiscounted future minimum lease payments under non-cancelable lease agreements having initial terms of more than one year to the total operating lease liabilities recognized on the unaudited condensed consolidated balance sheet as of June 30, 2024 (in thousands): SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS Year ended June 30, 2025 $ 131 2026 33 Total undiscounted cash flows 164 Less: Imputed interest (4 ) Present value of operating lease liabilities ( a $ 160 (a) Includes current portion of $ 127,000
SCHEDULE OF SUBLEASES	SCHEDULE OF SUBLEASES Year ended June 30, 2025 $ 29 2026 7 Total undiscounted cash flows $ 36

STOCKHOLDERS_ DEFICIT (Tables)

STOCKHOLDERS’ DEFICIT (Tables)	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
SCHEDULE OF BLACK-SCHOLES OPTION PRICING ESTIMATE FAIR VALUE	SCHEDULE OF BLACK-SCHOLES OPTION PRICING ESTIMATE FAIR VALUE Number of Options (in shares) Weighted Average Exercise Price Per Share Weighted Average Remaining Contractual Life Aggregate Intrinsic Value Outstanding at December 31, 2023 71,893 $ 6.41 3.8 $ 40,000 Granted 7,900 6.08 Exercised (2,812 ) 5.12 Forfeited or expired — — Outstanding at June 30, 2024 76,981 $ 6.42 3.7 $ 258,000 Exercisable at June 30, 2024 68,038 $ 6.45 3.4 $ 227,000
SCHEDULE OF STOCK OPTIONS FAIR VALUE ASSUMPTIONS ESTIMATED USING BLACK-SCHOLES	The fair value of the options granted of $ 47,000 SCHEDULE OF STOCK OPTIONS FAIR VALUE ASSUMPTIONS ESTIMATED USING BLACK-SCHOLES Risk-free interest rate 3.9 % Expected term of options 4.9 Expected annual volatility 194.1 % Expected dividend yield — %

SEGMENT REPORTING (Tables)

SEGMENT REPORTING (Tables)	6 Months Ended
	Jun. 30, 2024
Segment Reporting [Abstract]
SUMMARY OF SEGMENTED DATA	The following tables represent segmented data for the six- and three-month periods ended June 30, 2024 and 2023 (in thousands): SUMMARY OF SEGMENTED DATA PG CP Total Six months ended June 30, 2024: Revenues from external customers $ 3,855 $ 552 $ 4,407 Segment gross profit $ 2,934 $ 322 $ 3,256 Depreciation and amortization $ 51 $ 7 $ 58 Segment income (loss) before income taxes $ 936 $ (33 ) $ 903 Six months ended June 30, 2023: Revenues from external customers $ 3,196 $ 526 $ 3,722 Segment gross profit $ 2,495 $ 311 $ 2,806 Depreciation and amortization $ 65 $ 11 $ 76 Segment income (loss) before income taxes $ 530 $ (40 ) $ 490 Three months ended June 30, 2024: Revenues from external customers $ 2,061 $ 214 $ 2,275 Segment gross profit $ 1,536 $ 129 $ 1,665 Depreciation and amortization $ 27 $ 3 $ 30 Segment income (loss) before income taxes $ 520 $ (15 ) $ 505 Three months ended June 30, 2023: Revenues from external customers $ 1,689 $ 284 $ 1,973 Segment gross profit $ 1,316 $ 174 $ 1,490 Depreciation and amortization $ 32 $ 6 $ 38 Segment income before income taxes $ 331 $ 8 $ 339
SCHEDULE OF RECONCILIATION OF SEGMENT DATA TO CONSOLIDATED STATEMENT OF OPERATIONS	Reconciliation of Segment Income to Consolidated Net Income Before Income Taxes SCHEDULE OF RECONCILIATION OF SEGMENT DATA TO CONSOLIDATED STATEMENT OF OPERATIONS 2024 2023 2024 2023 Six months ended June 30, Three months ended June 30, 2024 2023 2024 2023 (in thousands) Total net income before income taxes for reportable segments $ 903 $ 490 $ 505 $ 339 Unallocated cost of corporate headquarters (534 ) (475 ) (229 ) (240 ) Consolidated net income before income taxes $ 369 $ 15 $ 276 $ 99

REVENUE (Tables)

REVENUE (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
SCHEDULE OF DISAGGREGATES OF REVENUE	The following table disaggregates the Company’s revenue for the six- and three-month periods ended June 30, 2024 and 2023 (in thousands): SCHEDULE OF DISAGGREGATES OF REVENUE Hardware Monitoring Total Six months ended June 30, 2024: PG Segment $ 1,767 $ 2,088 $ 3,855 CP Segment 428 124 552 Total Revenue $ 2,195 $ 2,212 $ 4,407 Hardware Monitoring Total Six months ended June 30, 2023: PG Segment $ 1,237 $ 1,959 $ 3,196 CP Segment 396 130 526 Total Revenue $ 1,633 $ 2,089 $ 3,722 Hardware Monitoring Total Three months ended June 30, 2024: PG Segment $ 1,014 $ 1,047 $ 2,061 CP Segment 151 63 214 Total Revenue $ 1,165 $ 1,110 $ 2,275 Hardware Monitoring Total Three months ended June 30, 2023: PG Segment $ 688 $ 1,001 $ 1,689 CP Segment 220 64 284 Total Revenue $ 908 $ 1,065 $ 1,973
SCHEDULE OF DEFERRED REVENUE ACTIVITY	Deferred revenue activity for the six months ended June 30, 2024 can be seen in the table below (in thousands): SCHEDULE OF DEFERRED REVENUE ACTIVITY Hardware Monitoring Total Balance at December 31, 2023 $ 2,965 $ 2,619 $ 5,584 Additions during the period — 2,235 2,235 Recognized as revenue (1,027 ) (2,212 ) (3,239 ) Balance at June 30, 2024 $ 1,938 $ 2,642 $ 4,580 Amounts to be recognized as revenue in the twelve-month-period ending: June 30, 2025 $ 1,400 2,190 3,590 June 30, 2026 534 448 982 June 30, 2027 and thereafter 4 4 8 Total $ 1,938 2,642 4,580
SCHEDULE OF RECONCILIATION OF HARDWARE REVENUE	The following table provides a reconciliation of the Company’s hardware revenue for the six- and three-month periods ended June 30, 2024 and 2023 (in thousands): SCHEDULE OF RECONCILIATION OF HARDWARE REVENUE Reconciliation of Hardware Revenue 2024 2023 2024 2023 Six months ended June 30, Three months ended June 30, Reconciliation of Hardware Revenue 2024 2023 2024 2023 Amortization of deferred revenue $ 1,027 $ 1,192 $ 492 $ 607 Sales of custom designed units and related accessories — 92 — 92 Hardware sales (new product versions) 955 — 579 — Other accessories, services, shipping and miscellaneous charges 213 349 94 209 Total hardware revenue $ 2,195 $ 1,633 $ 1,165 $ 908
SCHEDULE OF DEFERRED CHARGES ACTIVITY	Deferred COGS relate only to the sale of equipment. Deferred COGS activity for the six-month period ended June 30, 2024 can be seen in the table below (in thousands): SCHEDULE OF DEFERRED CHARGES ACTIVITY Balance at December 31, 2023 $ 1,285 Additions, net of adjustments, during the period — Recognized as COGS (451 ) Balance at June 30, 2024 $ 834 Amounts to be recognized as COGS in the twelve-month-period ending: June 30, 2025 $ 608 June 30, 2026 224 June 30, 2027 and thereafter 2 $ 834
SCHEDULE OF RECONCILIATION OF COGS EXPENSE	The following table provides a reconciliation of the Company’s COGS expense for the six- and three-month periods ended June 30, 2024 and 2023 (in thousands): SCHEDULE OF RECONCILIATION OF COGS EXPENSE Reconciliation of COGS Expense 2024 2023 2024 2023 Six months ended June 30, Three months ended June 30, Reconciliation of COGS Expense 2024 2023 2024 2023 Amortization of deferred COGS $ 451 $ 540 $ 216 $ 272 COGS of custom designed units and related accessories — 23 — 23 COGS of hardware sales (new product versions) 430 — 268 — Data costs for monitoring 123 148 61 73 Other COGS of accessories, services, shipping and miscellaneous charges 147 205 66 115 Total COGS expense $ 1,151 $ 916 $ 610 $ 483
SCHEDULE OF SALES COMMISSIONS CONTRACT ASSETS	The following table provides a reconciliation of the Company’s sales commissions contract assets for the six-month period ended June 30, 2024 (in thousands): SCHEDULE OF SALES COMMISSIONS CONTRACT ASSETS Hardware Monitoring Total Balance at December 31, 2023 $ 268 $ 96 $ 364 Additions during the period — 21 21 Amortization of sales commissions (91 ) (21 ) (112 ) Balance at June 30, 2024 $ 177 96 273
SCHEDULE OF SALES COMMISSIONS EXPENSE	Amounts to be recognized as sales commission expense in the twelve-month-period ending (in thousands): SCHEDULE OF SALES COMMISSIONS EXPENSE June 30, 2025 $ 167 June 30, 2026 82 June 30, 2027 and thereafter 24 Total $ 273

BASIS OF PRESENTATION (Details

BASIS OF PRESENTATION (Details Narrative)	Sep. 05, 2023 USD ($)
Accounting Policies [Abstract]
Reverse stock split	1-for-16
Shares repurchased	$ 347

SCHEDULE OF EFFECT ON NET INCOM

SCHEDULE OF EFFECT ON NET INCOME LOSS AND WEIGHTED AVERAGE NUMBER OF SHARES (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Accounting Policies [Abstract]
Net income attributable to common stockholders		$ 271	$ 96	$ 336	$ 11
Weighted average share outstanding:
-Basic	[1]	2,487	2,485	2,487	2,484
Add: Stock options		20	2	14	2
-Diluted	[1]	2,507	2,487	2,501	2,486
Basic net income per share	[1]	$ 0.11	$ 0.04	$ 0.14	$ 0
Diluted net income per share	[1]	$ 0.11	$ 0.04	$ 0.13	$ 0
[1]As adjusted to reflect the September 2023 1-for-16

ACCOUNTING POLICIES (Details Na

ACCOUNTING POLICIES (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Product Information [Line Items]
Deposits assets	$ 1,463,000		$ 1,463,000
Antidilutive securities excluded from computation of earnings per share, amount	15,000	58,000	26,000	50,000
Weighted average exercise price	$ 9.17	$ 6.89	$ 8.13	$ 7.20
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | One Customer [Member]
Product Information [Line Items]
Concentration risk percentage	12%		10%
Accounts Receivable [Member] | Customer Concentration Risk [Member] | Two Customer [Member]
Product Information [Line Items]
Concentration risk percentage			10%		25%

LIQUIDITY (Details Narrative)

LIQUIDITY (Details Narrative) - USD ($)	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Aug. 06, 2024	Dec. 31, 2023
Cash	$ 1,463,000
Working capital	423,000
Deferred revenue	3,590,000			$ 4,034,000
Total deferred revenue decreased	(1,004,000)	$ 196,000
Increase decrease in net cash	14,000	123,000
Net cash used in operating activities	41,000	155,000
Net cash used in investing activities	40,000	37,000
Net cash used in financing activities	13,000	$ 5,000
Cash	1,463,000			1,449,000
Subsequent Event [Member]
Cash			$ 1,546,000
Maximum [Member]
Deferred revenue				$ 5,584,000
Minimum [Member]
Deferred revenue	$ 4,580,000

SCHEDULE OF ALLOWANCES FOR CRED

SCHEDULE OF ALLOWANCES FOR CREDIT LOSSES (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Receivables [Abstract]
Balance at beginning of period	$ 10	$ 10
Provision for credit losses adjustment	(7)	2
Net credits (charge-offs)	2	(2)
Balance at end of period	$ 5	$ 10

ALLOWANCE FOR CREDIT LOSSES (De

ALLOWANCE FOR CREDIT LOSSES (Details Narrative) $ in Thousands	Jun. 30, 2024 USD ($)
Receivables [Abstract]
Gross receivables	$ 545
Allowances for credit losses	$ 5

SCHEDULE OF INVENTORY (Details)

SCHEDULE OF INVENTORY (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 683	$ 904
Finished goods	48	58
Inventory net	$ 731	$ 962

INVENTORY (Details Narrative)

INVENTORY (Details Narrative) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory reserves	$ 10,000	$ 8,000

SCHEDULE OF SUPPLEMENTAL CASH F

SCHEDULE OF SUPPLEMENTAL CASH FLOW INFORMATION RELATED TO LEASES (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Leases
Cash paid for operating lease liabilities	$ 64	$ 63

SCHEDULE OF SUPPLEMENTAL BALANC

SCHEDULE OF SUPPLEMENTAL BALANCE SHEET INFORMATION RELATED TO LEASES (Details)	Jun. 30, 2024
Leases
Weighted average remaining lease terms for operating leases	1 year 3 months

SCHEDULE OF FUTURE MINIMUM LEAS

SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS (Details)	Jun. 30, 2024 USD ($)
Leases
2025	$ 131,000
2026	33,000
Total undiscounted cash flows	164,000
Less: Imputed interest	(4,000)
Present value of operating lease liabilities ()	$ 160,000	[1]
[1]Includes current portion of $ 127,000

SCHEDULE OF FUTURE MINIMUM LE_2

SCHEDULE OF FUTURE MINIMUM LEASE PAYMENTS (Details) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Leases
Operating leases current portion	$ 127	$ 123

SCHEDULE OF SUBLEASES (Details)

SCHEDULE OF SUBLEASES (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Leases
2025	$ 29
2026	7
Total undiscounted cash flows	$ 36

LEASES (Details Narrative)

LEASES (Details Narrative)			3 Months Ended		6 Months Ended
		Jul. 06, 2021 USD ($) ft²	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2024 USD ($)	Jun. 30, 2023 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease, payments			$ 7,000	$ 3,000	$ 7,000	$ 3,000
Lessee, operating lease, discount rate			4.50%		4.50%
Operating lease, liability	[1]		$ 160,000		$ 160,000
Sublease payment		$ 2,375
Sublease profit paid					$ 16,000
Annual service cost		$ 2,220
King Industrial Reality Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Office and production space | ft²		1,900
King Industrial Realty Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Office and production space | ft²		21,000
Operating Lease Agreements [Member] | Omni Metrix Holdings, Inc. [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Lease expiration date					Sep. 30, 2025
Operating lease, payments			$ 32,000	$ 32,000	$ 64,000	$ 63,000
[1]Includes current portion of $ 127,000

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative)	6 Months Ended
	Jun. 30, 2024 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease obligations payable	$ 160,000	[1]
Master Services Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Operating lease obligations payable	160,000
Operating leases and contractual services	565,000
Contractual services, year one	242,000
Contractual services, year two	208,000
Contractual services, year three	105,000
Commitment payable	$ 468,000
[1]Includes current portion of $ 127,000

SCHEDULE OF BLACK-SCHOLES OPTIO

SCHEDULE OF BLACK-SCHOLES OPTION PRICING ESTIMATE FAIR VALUE (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2024	Dec. 31, 2023
Equity [Abstract]
Number of Options (in shares), Outstanding at beginning of year	71,893
Weighted Average Exercise Price Per Share, Outstanding at beginning of year	$ 6.41
Weighted average remaining contractual life at end	3 years 8 months 12 days	3 years 9 months 18 days
Aggregate intrinsic value at beginning of year	$ 40,000
Number of Options (in shares), Granted	7,900
Weighted Average Exercise Price Per Share, Granted	$ 6.08
Number of Options (in shares), Exercised	(2,812)
Weighted Average Exercise Price Per Share, Exercised	$ 5.12
Number of Options (in shares), Forfeited or expired
Weighted Average Exercise Price Per Share, Forfeited or expired
Number of Options (in shares), Outstanding at end of year	76,981	71,893
Weighted Average Exercise Price Per Share, Outstanding at end of year	$ 6.42	$ 6.41
Aggregate intrinsic value at end of year	$ 258,000	$ 40,000
Number of Options (in shares), Exercisable at end of year	68,038
Weighted Average Exercise Price Per Share, Exercisable at end of year	$ 6.45
Weighted average remaining contractual life at exercisable at end of year	3 years 4 months 24 days
Aggregate intrinsic value, Exercisable at end of year	$ 227,000

SCHEDULE OF STOCK OPTIONS FAIR

SCHEDULE OF STOCK OPTIONS FAIR VALUE ASSUMPTIONS ESTIMATED USING BLACK-SCHOLES (Details)	6 Months Ended
	Jun. 30, 2024 USD ($)
Equity [Abstract]
Fair value of options granted	$ 47,000
Risk-free interest rate	3.90%
Expected term of options, in years	4 years 10 months 24 days
Expected annual volatility	194.10%
Expected dividend yield

STOCKHOLDERS_ DEFICIT (Details

STOCKHOLDERS’ DEFICIT (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Common stock, shares issued	2,537,485		2,537,485		2,534,969
Common stock, shares outstanding	2,487,307		2,487,307		2,484,791
Common stock, par value	$ 0.01		$ 0.01		$ 0.01
Number of options granted during period			7,900
Number of options exercisable	$ 227,000		$ 227,000
Compensation cost, non-vested awards not yet recognized	31,000		31,000
Selling, General and Administrative Expenses [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock based compensation expense	11,000	$ 13,000	38,000	$ 30,000
Options Held [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options exercisable	$ 2,812		$ 2,812
Share-Based Payment Arrangement, Employee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options granted during period			1,000
Share-Based Payment Arrangement, Nonemployee [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options granted during period	0		0
Non-Employee Directors [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options granted during period	0		7,900
Director [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options granted during period			2,500
Chief Executive Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options granted during period			2,200
Chief Financial Officer [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options granted during period			2,200
Amended and Restated 2006 Stock Incentive Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Number of options available for grant	68,869		68,869

SUMMARY OF SEGMENTED DATA (Deta

SUMMARY OF SEGMENTED DATA (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting Information [Line Items]
Revenue from external customers	$ 2,275	$ 1,973	$ 4,407	$ 3,722
Segment gross profit	1,665	1,490	3,256	2,806
Depreciation and amortization	30	38	58	76
Segment income (loss) before income taxes	505	339	903	490
PG [Member]
Segment Reporting Information [Line Items]
Revenue from external customers	2,061	1,689	3,855	3,196
Segment gross profit	1,536	1,316	2,934	2,495
Depreciation and amortization	27	32	51	65
Segment income (loss) before income taxes	520	331	936	530
CP [Member]
Segment Reporting Information [Line Items]
Revenue from external customers	214	284	552	526
Segment gross profit	129	174	322	311
Depreciation and amortization	3	6	7	11
Segment income (loss) before income taxes	$ (15)	$ 8	$ (33)	$ (40)

SCHEDULE OF RECONCILIATION OF S

SCHEDULE OF RECONCILIATION OF SEGMENT DATA TO CONSOLIDATED STATEMENT OF OPERATIONS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Segment Reporting [Abstract]
Total net income before income taxes for reportable segments	$ 505	$ 339	$ 903	$ 490
Unallocated cost of corporate headquarters	(229)	(240)	(534)	(475)
Income before income taxes	$ 276	$ 99	$ 369	$ 15

SCHEDULE OF DISAGGREGATES OF RE

SCHEDULE OF DISAGGREGATES OF REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Total Revenue	$ 2,275	$ 1,973	$ 4,407	$ 3,722
PG [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	2,061	1,689	3,855	3,196
CP [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	214	284	552	526
Hardware [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,165	908	2,195	1,633
Hardware [Member] | PG [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,014	688	1,767	1,237
Hardware [Member] | CP [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	151	220	428	396
Monitoring [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,110	1,065	2,212	2,089
Monitoring [Member] | PG [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,047	1,001	2,088	1,959
Monitoring [Member] | CP [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	$ 63	$ 64	$ 124	$ 130

SCHEDULE OF DEFERRED REVENUE AC

SCHEDULE OF DEFERRED REVENUE ACTIVITY (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Disaggregation of Revenue [Line Items]
Balance at December 31, 2023	$ 5,584
Additions during the period	2,235
Recognized as revenue	(3,239)
Total	4,580
June 30, 2025	3,590
June 30, 2026	982
June 30, 2027 and thereafter	8
Hardware [Member]
Disaggregation of Revenue [Line Items]
Balance at December 31, 2023	2,965
Additions during the period
Recognized as revenue	(1,027)
Total	1,938
June 30, 2025	1,400
June 30, 2026	534
June 30, 2027 and thereafter	4
Monitoring [Member]
Disaggregation of Revenue [Line Items]
Balance at December 31, 2023	2,619
Additions during the period	2,235
Recognized as revenue	(2,212)
Total	2,642
June 30, 2025	2,190
June 30, 2026	448
June 30, 2027 and thereafter	$ 4

SCHEDULE OF RECONCILIATION OF H

SCHEDULE OF RECONCILIATION OF HARDWARE REVENUE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 2,275	$ 1,973	$ 4,407	$ 3,722
Hardware [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,165	908	2,195	1,633
Hardware [Member] | Amortization [Member]
Disaggregation of Revenue [Line Items]
Revenue	492	607	1,027	1,192
Hardware [Member] | Sales of Custom Designed Units [Member]
Disaggregation of Revenue [Line Items]
Revenue		92		92
Hardware [Member] | Hardware Sales [Member]
Disaggregation of Revenue [Line Items]
Revenue	579		955
Hardware [Member] | Other Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 94	$ 209	$ 213	$ 349

SCHEDULE OF DEFERRED CHARGES AC

SCHEDULE OF DEFERRED CHARGES ACTIVITY (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
Balance at December 31, 2023	$ 1,285
Additions, net of adjustments, during the period
Recognized as COGS	(451)
Balance at June 30, 2024	834
March 31, 2025	608
March 31, 2026	224
March 31, 2027 and thereafter	2
Total	$ 834

SCHEDULE OF RECONCILIATION OF C

SCHEDULE OF RECONCILIATION OF COGS EXPENSE (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 2,275	$ 1,973	$ 4,407	$ 3,722
COGS [Member]
Disaggregation of Revenue [Line Items]
Revenue	610	483	1,151	916
COGS [Member] | Amortization [Member]
Disaggregation of Revenue [Line Items]
Revenue	216	272	451	540
COGS [Member] | COGS of Custom Designed Units [Member]
Disaggregation of Revenue [Line Items]
Revenue		23		23
COGS [Member] | COGS of Hardware Sales [Member]
Disaggregation of Revenue [Line Items]
Revenue	268		430
COGS [Member] | COGS Data Costs [Member]
Disaggregation of Revenue [Line Items]
Revenue	61	73	123	148
COGS [Member] | Other COGS Accessories [Member]
Disaggregation of Revenue [Line Items]
Revenue	$ 66	$ 115	$ 147	$ 205

SCHEDULE OF SALES COMMISSIONS C

SCHEDULE OF SALES COMMISSIONS CONTRACT ASSETS (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Disaggregation of Revenue [Line Items]
Balance at December 31, 2023	$ 364
Additions during the period	21
Amortization of sales commissions	(112)
Balance at June 30, 2024	273
Hardware [Member]
Disaggregation of Revenue [Line Items]
Balance at December 31, 2023	268
Additions during the period
Amortization of sales commissions	(91)
Balance at June 30, 2024	177
Monitoring [Member]
Disaggregation of Revenue [Line Items]
Balance at December 31, 2023	96
Additions during the period	21
Amortization of sales commissions	(21)
Balance at June 30, 2024	$ 96

SCHEDULE OF SALES COMMISSIONS E

SCHEDULE OF SALES COMMISSIONS EXPENSE (Details) $ in Thousands	Jun. 30, 2024 USD ($)
Revenue from Contract with Customer [Abstract]
June 30, 2025	$ 167
June 30, 2026	82
June 30, 2027 and thereafter	24
Total	$ 273

REVENUE (Details Narrative)

REVENUE (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Revenue	$ 2,275,000	$ 1,973,000	$ 4,407,000	$ 3,722,000
Deferred revenue recognized	990,000		990,000		$ 1,550,000
Other current assets	392,000		392,000		280,000
Capitalized Sales Commissions [Member]
Disaggregation of Revenue [Line Items]
Other current assets	167,000		167,000		202,000
Other assets		106,000		106,000	$ 162,000
Other Revenue Related to Accessories, Repairs and Other Miscellaneous Charges [Member]
Disaggregation of Revenue [Line Items]
Revenue			1,027,000
Monitoring [Member]
Disaggregation of Revenue [Line Items]
Revenue	1,110,000	$ 1,065,000	2,212,000	$ 2,089,000
Deferred revenue recognized	$ 1,633,000		$ 1,633,000

RELATED PARTY BALANCES AND TR_2

RELATED PARTY BALANCES AND TRANSACTIONS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Officer [Member]
Consulting and other fees to directors	$ 135,000	$ 131,000	$ 269,000	$ 261,000
Director [Member]
Consulting and other fees to directors	$ 19,000	$ 19,000	$ 37,000	$ 34,000