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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2023
Accounting Policies [Abstract]  
SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER SHARE

The following table summarizes the shares of common stock that were potentially issuable but were excluded from the computation of diluted net loss per share for the nine months ended September 30, 2023 and 2022, as such shares would have had an anti-dilutive effect:

 

   2023   2022 
   As of September 30, 
   2023   2022 
Stock options (a)   95,873    155,691 
Warrants (b)   16,725    16,725 
Unvested restricted stock   159,557    192,215 

 

(a)Shares underlying stock options assumed pursuant to the merger agreement with Precision Healing, Inc. (“Precision Healing”) in April 2022. See Note 3 for more information regarding the Precision Healing merger.

(b)Shares underlying warrants assumed pursuant to the merger agreement with Precision Healing in April 2022. See Note 3 for more information regarding the Precision Healing merger.
SCHEDULE OF REVENUE FROM PRODUCT SALES AND ROYALTIES

Revenue streams from product sales and royalties are summarized below for the three and nine months ended September 30, 2023 and 2022.

 

   2023   2022   2023   2022 
   Three Months Ended   Nine Months Ended 
   September 30,   September 30, 
   2023   2022   2023   2022 
Soft tissue repair products  $13,634,316   $10,969,271   $39,756,539   $28,296,919 
Bone fusion products   2,340,382    2,025,050    7,392,740    2,078,903 
Royalty revenue   50,250    50,250    150,750    150,750 
Total Net Revenue  $16,024,948   $13,044,571   $47,300,029   $30,526,572 
SCHEDULE OF PROPERTY AND EQUIPMENT

 

   Useful   September 30,   December 31, 
   Life   2023   2022 
Computers   3-5 years   $194,788   $172,154 
Office equipment   3-7 years    154,280    87,225 
Furniture and fixtures   5-10 years    323,755    258,414 
Leasehold improvements   2-5 years    107,983    19,631 
Internal use software   5 years    1,618,998    1,618,998 
Property and equipment, gross        2,399,804    2,156,422 
Less accumulated depreciation        (1,072,748)   (739,986)
Property and equipment, net       $1,327,056   $1,416,436 
SCHEDULE OF CHANGES IN FAIR VALUE FOR CONTINGENT EARNOUT CONSIDERATION

  

      
Balance at December 31, 2022  $7,166,691 
Additions   893,000 
Changes in fair value of earnout liabilities   (1,494,910)
Settlements   (692,795)
Balance at September 30, 2023  $5,871,986