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Accrued Expenses | 12 Months Ended
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Dec. 31, 2023
Accrued Expenses |
Accrued Expenses | Note 10 — Accrued Expenses Accrued expenses consisted of the following: ​
​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | December 31, | ​ | December 31,
​ |  | 2023 |  | 2022
​ | ​ | ​ | ​ | ​ | ​ | ​
Accrued Wages and Related Costs | ​ | $ | 1,711,707 | ​ | $ | 843,537
Accrued Professional Services | ​ |  | 362,100 | ​ |  | 263,800
Accrued Warranty Obligations | ​ |  | 188,249 | ​ |  | 159,927
Other Accrued Expenses | ​ |  | 154,387 | ​ |  | 403,275
​ | ​ | ​ | ​ | ​ | ​ | ​
Total | ​ | $ | 2,416,443 | ​ | $ | 1,670,539
​ Included in Accrued Wages and Related Costs was $1,033,859 in severance costs for staff reductions that took place in January as part of the Company’s cost reduction initiative, which was approved on December 18, 2023 and announced on January 17, 2024. The Company has warranty obligations in connection with the sale of certain of its products. The warranty period for its products is generally twelve (12) months, unless the customer purchases an extended warranty for an additional twelve (12) months. The costs incurred to provide for these warranty obligations are estimated and recorded as an accrued liability at the time of sale. The Company estimates its future warranty costs based upon product-based historical performance rates and related costs to repair. The changes in the Company’s accrued warranty obligations for the years ended December 31, 2023, 2022 and 2021 were as follows: ​
​ | ​ | ​ | ​
Accrued Warranty Obligations at December 31, 2020 |  | $ | 143,898
Reductions for Settling Warranties | ​ |  | (342,392)
Warranty Issued During Year | ​ |  | 383,538
Accrued Warranty Obligations at December 31, 2021 | ​ |  | 185,044
Reductions for Settling Warranties | ​ |  | (408,655)
Warranty Issued During Year | ​ |  | 383,538
Accrued Warranty Obligations at December 31, 2022 | ​ | $ | 159,927
Reductions for Settling Warranties | ​ |  | (286,851)
Warranties Issued During Year | ​ |  | 315,173
​ | ​ | ​ | ​
Accrued Warranty Obligations at December 31, 2023 | ​ | $ | 188,249
​

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -Publisher FASB -URI https://asc.fasb.org//1943274/2147480566/210-10-S99-1 + Details
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