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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2023
Summary of Significant Accounting Policies [Abstract] |
Schedule of Changes in the Allowance for Credit Losses | The changes in the allowance for credit losses in each of the years ended December 31, 2023 and 2022, were as follows:
|  | 2023 |  |  | 2022 |
Balance at beginning of year |  | $ | 352,043 |  |  | $ | 241,219 |
Bad debt expense |  |  | 665,973 |  |  |  | 363,512 |
Write-offs |  |  | (778,844 | ) |  |  | (252,688 | )
Balance at end of year |  | $ | 239,172 |  |  | $ | 352,043 |
Schedule of Revenue is Earned from Life Sciences Companies | A break down is set forth in the table below
|  | 2023 |  |  | 2022 |
Revenue recognized over time |  | $ | 63,527,477 |  |  | $ | 55,437,418 |
Revenue recognized at a point in time |  |  | 7,994,029 |  |  |  | 7,012,738 |
Total Revenue |  | $ | 71,521,506 |  |  | $ | 62,450,156 |
Schedule of Pay Any Dividends in the Future |
|  | 2023 |  |  | 2022 |
Expected dividend yield |  |  | 0 | % |  |  | 0 | %
Risk free interest rate |  |  | 3.76% - 4.74 | % |  |  | 0.82% - 4.38 | %
Expected option term |  |  | 3.5 years |  |  |  | 3.5 years |
Turnover/forfeiture rate |  |  | 0 | % |  |  | 0 | %
Expected volatility |  |  | 67% - 72 | % |  |  | 68% - 71 | %
Weighted average grant date fair value |  | $ | 6.58 |  |  | $ | 12.82 |
Schedule of Weighted Average Shares Outstanding and the Basic and Diluted Earnings Per Common Share | The computation of weighted average shares outstanding and the basic and diluted earnings per common share for the years ended December 31, 2023 and 2022 consisted of the following:
|  | Year ended December 31, 2023 |
|  | Net (Loss) |  |  | Shares |  |  | Per Share Amount |
Basic EPS |  | $ | (17,565,866 | ) |  |  | 17,124,801 |  |  | $ | (1.03 | )
Effect of dilutive securities |  |  | — |  |  |  | — |  |  |  | — |
Diluted EPS |  | $ | (17,565,866 | ) |  |  | 17,124,801 |  |  | $ | (1.03 | )
|  | Year ended December 31, 2022 |
|  | Net Income |  |  | Shares |  |  | Per Share Amount |
Basic EPS |  | $ | (11,438,440 | ) |  |  | 17,783,992 |  |  | $ | (0.64 | )
Effect of dilutive securities |  |  | — |  |  |  | — |  |  |  | — |
Diluted EPS |  | $ | (11,438,440 | ) |  |  | 17,783,992 |  |  | $ | (0.64 | )

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- Definition Tabular disclosure of the extent of the entity's reliance on its major customers, if revenues from transactions with a single external customer amount to 10 percent or more of entity revenues, including the disclosure of that fact, the total amount of revenues from each such customer, and the identity of the reportable segment or segments reporting the revenues. The entity need not disclose the identity of a major customer or the amount of revenues that each segment reports from that customer. For these purposes, a group of companies known to the entity to be under common control is considered a single customer, and the federal government, a state government, a local government such as a county or municipality, or a foreign government is each considered a single customer. + References No definition available. + Details
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