XML 35 R26.htm IDEA: XBRL DOCUMENT v3.8.0.1
ACQUISITIONS (Tables)
9 Months Ended
Sep. 30, 2017
Business Combinations [Abstract]  
Schedule of business combinations

Upon initial measurement, components of the purchase price are as follows:

    Microphase     Power-Plus  
             
Cash and cash equivalents   $ 11     $ 27  
Accounts receivable     439       235  
Inventories     667       241  
Prepaid expenses and other current assets     139       2  
Restricted cash     100        
Intangible assets     95       250  
Property and equipment     93       23  
Other investments     303        
Deposits and loans     44        
Accounts payable and accrued expenses     (1,680 )     (392 )
Revolving credit facility     (880 )     (210 )
Notes payable     (2,204 )      
Notes payable, related parties     (406 )      
Other current liabilities     (327 )      
Net liabilities assumed/assets acquired     (3,606 )     176  
Goodwill and other intangibles     6,002       488  
Non-controlling interest     (945 )      
Purchase price   $ 1,451     $ 664  

Schedule of the pro forma

The following pro forma data summarizes the results of operations for the periods indicated as if the Microphase and Power-Plus acquisitions had been completed as of the beginning of each period presented. The pro forma data gives effect to actual operating results prior to the acquisition. These pro forma amounts do not purport to be indicative of the results that would have actually been obtained if the acquisition occurred as of the beginning of each period presented or that may be obtained in future periods:

    For the Three Months Ended     For the Nine Months Ended  
    September 30,     September 30,  
    2017     2016     2017     2016  
                         
Revenue   $ 3,583     $ 3,751     $ 10,329     $ 12,692  
                                 
Net loss   $ (2,277 )   $ (711 )   $ (4,820 )   $ (1,742 )
                                 
Less: Net loss attributable to non-controlling interest     103       290       103       714  
                                 
Net loss attributable to Digital Power Corp   $ (2,144 )   $ (421 )   $ (4,717 )   $ (1,028 )
                                 
Preferred deemed dividends                 (319 )      
Preferred dividends     (27 )           (35 )      
                                 
Loss available to common shareholders   $ (2,171 )   $ (421 )   $ (5,071 )   $ (1,028 )
                                 
Basic and diluted net loss per common share   $ (0.14 )   $ (0.05 )   $ (0.40 )   $ (0.12 )
                                 

Basic and diluted weighted average common shares

outstanding

    15,587,988       8,618,419       12,727,396       8,618,419  
                                 
Comprehensive Loss                                
Loss available to common shareholders   $ (2,171 )   $ (421 )   $ (5,071 )   $ (1,028 )
Other comprehensive income (loss)                                
Change in net foreign currency translation adjustments     42       (55 )     141       (265 )

Net unrealized gain (loss) on securities available-for-

sale, net of income taxes

    (43 )     186       (43 )     204  
Other comprehensive income (loss)     (1 )     131       98       (61 )
Total Comprehensive loss   $ (2,172 )   $ (290 )   $ (4,973 )   $ (1,089 )