Basis of Presentation and Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2023 |
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| Summary of Significant Accounting Policies |
|
| Schedule of fair value assets and liabilities measured on recurring basis |
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|
Fair Value Measurement as of |
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|
|
|
|
|
December 31, 2023 |
|
|
|
Total |
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|
Level 1 |
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|
Level 2 |
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|
Level 3 |
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Liabilities: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit share liability – related party (1) |
|
$ |
14,847,937 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
14,847,937 |
|
Total Liabilities |
|
$ |
14,847,937 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
14,847,937 |
|
|
|
|
|
|
Fair Value Measurement as of |
|
|
|
|
|
|
December 31, 2022 |
|
|
|
Total |
|
|
Level 1 |
|
|
Level 2 |
|
|
Level 3 |
|
Liabilities: |
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Profit share liability – related party (1) |
|
$ |
3,638,260 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
3,638,260 |
|
Total Liabilities |
|
$ |
3,638,260 |
|
|
$ |
- |
|
|
$ |
- |
|
|
$ |
3,638,260 |
|
|
| Schedule of sales by operating segment |
|
|
December 31,
2023
|
|
|
December 31,
2022
|
|
Product revenue |
|
$ |
17,092,996 |
|
|
$ |
20,644,438 |
|
License revenue |
|
|
702,500 |
|
|
|
650,938 |
|
Demonstrations & Consulting revenue |
|
|
90,000 |
|
|
|
108,000 |
|
Equipment revenue |
|
|
54,874 |
|
|
|
216,777 |
|
|
|
$ |
17,940,370 |
|
|
$ |
21,620,153 |
|
|
| Schedule of earnings per share basic and diluted |
|
|
2023 |
|
|
2022 |
|
Basic: |
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
5,904,013 |
|
|
$ |
(1,581,476 |
) |
Weighted-average shares outstanding |
|
|
94,171,695 |
|
|
|
90,025,209 |
|
Basic |
|
$ |
0.06 |
|
|
|
(0.02 |
) |
|
|
2023 |
|
|
2022 |
|
Diluted: |
|
|
|
|
|
|
Net Income (Loss) |
|
$ |
5,904,013 |
|
|
$ |
(1,581,476 |
) |
Weighted-average shares outstanding |
|
|
94,171,695 |
|
|
|
90,025,209 |
|
Effect of diluted securities – stock options |
|
|
3,280,702 |
|
|
|
- |
|
Weighted-average shares used in the calculation of diluted earnings per share |
|
|
97,452,397 |
|
|
|
90,025,209 |
|
Diluted earnings (loss) per share |
|
$ |
0.06 |
|
|
$ |
(0.02 |
) |
|
| Schedule of common stock equivalents excluded from dilutive loss per share |
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|
December 31, |
|
|
December 31, |
|
|
|
2023 |
|
|
2022 |
|
|
|
|
|
|
|
|
Stock Options |
|
|
9,650,000 |
|
|
|
18,876,912 |
|
Warrants |
|
|
2,550,000 |
|
|
|
3,285,000 |
|
Total common stock equivalents excluded from dilutive loss per share |
|
|
12,200,000 |
|
|
|
22,161,912 |
|
|