Quarterly report pursuant to Section 13 or 15(d)

SEGMENT REPORTING (Tables)

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SEGMENT REPORTING (Tables)
6 Months Ended
Jun. 30, 2024
Segment Reporting [Abstract]  
SCHEDULE OF NET SALES BY MAJOR PRODUCT CATEGORY

The following table sets forth our net sales by major product category:

 

(in thousands)   Consumer Goods   Industrial Goods   Total   Consumer Goods   Industrial Goods   Total  
   

For the three months ended

June 30, 2024

 

For the three months ended

June 30, 2023

 
(in thousands)   Consumer Goods   Industrial Goods   Total   Consumer Goods   Industrial Goods   Total  
Net sales   $ 900   $ 1,752   $ 2,652   $ 6,025   $ 13,600   $ 19,625  
Cost of sales     757     884     1,641     4,222     10,829     15,051  
Gross profit   $ 143   $ 868   $ 1,011   $ 1,803   $ 2,771   $ 4,574  

 

(in thousands)   Consumer Goods   Industrial Goods   Total   Consumer Goods   Industrial Goods   Total  
    For the six months ended
June 30, 2024
  For the six months ended
June 30, 2023
 
(in thousands)   Consumer Goods   Industrial Goods   Total   Consumer Goods   Industrial Goods   Total  
Net sales   $ 3,174   $ 4,404   $ 7,578   $ 13,835   $ 29,749   $ 43,584  
Cost of sales     2,333     2,722     5,055     9,745     23,746     33,491  
Gross profit   $ 841   $ 1,682   $ 2,523   $ 4,090   $ 6,003   $ 10,093  
SCHEDULE OF SEGMENT REPORTING INFORMATION, BY SEGMENT

The following table sets forth specific asset categories which are reviewed by our CODM in the evaluation of operating segments:

 

(in thousands)   Consumer
Goods
  Industrial
Goods
  Total   Consumer
Goods
  Industrial
Goods
  Total  
    As of June 30, 2024   As of December 31, 2023  
(in thousands)   Consumer
Goods
  Industrial
Goods
  Total   Consumer
Goods
  Industrial
Goods
  Total  
Accounts receivable, net   $ 1,768   $ 155   $ 1,923   $ 642   $ 1,051   $ 1,693  
Inventories, net   $ 5,620   $ 11,648   $ 17,268   $ 8,881   $ 11,648   $ 20,529  
Vendor deposits   $ 1,930   $ 1,807   $ 3,737   $ 1,958   $ 1,807   $ 3,765