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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2022
Summary of Significant Accounting Policies  
Reclassification of prior year presentation

 

    

For the Year Ended December 31, 2021

    

For the Year Ended December 31, 2020

Condensed Statement of Operations

As Previously Presented

Reclassification

Revised

As Previously Presented

Reclassification

Revised

Total Sales

$

13,164,933

$

$

13,164,933

$

11,581,496

$

$

11,581,496

Total Cost of Sales

10,714,088

882,355

11,596,443

9,653,887

1,329,651

10,983,538

Gross Profit

2,450,845

(882,355)

1,568,490

1,927,609

(1,329,651)

597,958

Operating Expenses:

Research and Development

11,674,954

11,674,954

7,568,074

7,568,074

Selling and Marketing

6,118,929

6,118,929

4,039,772

4,039,772

General and Administrative

22,502,833

22,502,833

6,915,213

6,915,213

Depreciation and Amortization

1,870,459

(882,355)

988,104

2,458,482

(1,329,651)

1,128,831

Loss on Fixed Asset Disposal

183,614

183,614

Impairment of Patents and Trademarks

80,163

80,163

73,532

73,532

Total Operating Expenses

42,430,952

(882,355)

41,548,597

21,055,073

(1,329,651)

19,725,422

Loss From Operations

 

(39,980,107)

 

 

(39,980,107)

 

(19,127,464)

 

 

(19,127,464)

Total Other (Expense) Income, Net

(397,053)

(397,053)

1,175,292

1,175,292

Net Loss

$

(40,377,160)

$

$

(40,377,160)

$

(17,952,172)

$

$

(17,952,172)

Schedule of property and equipment estimated useful life

Computers and Purchased Software

    

3 years

Leasehold Improvements

 

Lesser of expected life or lease term

Manufacturing Equipment

 

5 years

Tooling

 

3 years

Furniture and Equipment

 

5 years