ACCOUNTING POLICIES (Policies) |
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Sep. 30, 2021 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accounting Policies [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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 approximately $2,016,000 at September 30, 2021. The Company does not believe there is significant risk of non-performance by these counterparties. For the three and nine-month periods ended September 30, 2021, there were no customers that represented greater than 10% of the Company’s total invoiced sales. Approximately 12% of the accounts receivable at September 30, 2021 was due from one customer who pays its receivables over usual credit periods. As of November 8, 2021 the Company had collected 100% of the outstanding amount of approximately $98,000 due from this customer as of September 30, 2021. 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.
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Basic and Diluted Net Income (Loss) Per Share |
Basic net income (loss) per share is computed by dividing the net income (loss) attributable to Acorn Energy, Inc. by the weighted average number of shares outstanding during the year, excluding treasury stock. Diluted net income (loss) per share is computed by dividing the net income (loss) 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 (loss) per share if doing so would be antidilutive. The number of options that were excluded from the computation of diluted net income (loss) per share, as they had an antidilutive effect, was approximately (which have a weighted average exercise price of $) and approximately (which have a weighted average exercise price of $) for the nine- and three-month periods ending September 30, 2021, respectively. There were no anti-dilutive warrants. For both the nine- and three-month periods ending September 30, 2020, the number of options and warrants that were excluded from the computation of diluted net income (loss) per share, as they had an antidilutive effect, was approximately options (which had a weighted average exercise price of $) and approximately warrants (which had a weighted average exercise price of $).
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Recently Issued Accounting Principles | Recently Issued Accounting Principles
Other than the pronouncement noted below, there have been no recent accounting pronouncements or changes in accounting pronouncements during the nine- and three-month periods ended September 30, 2021, that are of material significance, or have potential material significance, to the Company.
In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (“ASC 326”), authoritative guidance amending how entities will measure credit losses for most financial assets and certain other instruments that are not measured at fair value through net income. The guidance requires the application of a current expected credit loss model, which is a new impairment model based on expected losses. The new guidance is effective for interim and annual reporting periods beginning after December 15, 2022. The Company is currently evaluating the impact of the new guidance on its condensed consolidated financial statements and related disclosures.
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