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SEGMENT INFORMATION
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
SEGMENT INFORMATION

20. SEGMENT INFORMATION

 

ASC Topic 280, “Segment Reporting,” establishes standards for companies to report in their financial statement information about operating segments, products, services, geographic areas, and major customers. Operating segments are defined as components of an enterprise that engage in business activities from which it may recognize revenues and incur expenses, and for which separate financial information is available that is regularly evaluated by the Company’s Chief Operating Decision Maker (“CODM”), or group, in deciding how to allocate resources and assess performance.

 

The Company’s CODM has been identified as the Chief Executive and Financial Officer, who reviews the assets, operating results, and financial metrics for the Company to make decisions about allocating resources and assessing financial performance. Accordingly, management has determined that there is only one reportable segment.

 

The CODM assesses performance for the single segment and decides how to allocate resources based on gross profit and net loss that are also reported on the statement of operations as net income or loss. The measure of segment assets is reported on the balance sheet as total assets. When evaluating the Company’s performance and making key decisions regarding resource allocation, the CODM reviews several key metrics included in net loss, which include the following:

          
   Years ended December 31, 
   2025   2024 
Revenue  $7,228,000   $4,912,000 
Cost of revenue          
Manufacturing costs   2,553,000    1,524,000 
Distribution costs   358,000    481,000 
Inventory adjustment   -    270,000 
EV chargers   801,000    206,000 
Other   197,000    309,000 
Cost of revenue   3,909,000    2,790,000 
Gross profit   3,319,000    2,122,000 
Operating expenses:          
Research and development:          
Payroll and benefits   253,000    238,000 
Occupancy costs   98,000    93,000 
Other research and development   93,000    76,000 
Total research and development   444,000    407,000 
Selling and marketing:          
Payroll and benefits   742,000    972,000 
Occupancy costs   110,000    164,000 
Other selling and marketing   203,000    157,000 
Total selling and marketing   1,055,000    1,293,000 
General and administrative          
Payroll and benefits   1,389,000    1,209,000 
Professional fees and outside services   370,000    422,000 
Write off EV related assets   -    763,000 
Occupancy costs   695,000    660,000 
Other general and administrative   700,000    862,000 
Total general and administrative   3,154,000    3,966,000 
Total operating expenses   4,653,000    5,666,000 
Operating loss  $(1,334,000)  $(3,544,000)