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Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2023

Summary of Significant Accounting Policies

Schedule of reclassification of prior year presentation

​

​	​	​	​	​	​	​	​	​	​
​	​	For the Year Ended December 31, 2022
ASSETS	​	As Previously		​	​	​	​	​	​
Current Assets		Presented			Re-classification			Revised
Cash and Cash Equivalents	​	$	72,563,943	​	$	—	​	$	72,563,943
Accounts Receivable, Net	​	​	3,558,971	​	​	—	​	​	3,558,971
Accrued Revenues in Excess of Billings	​	​	269,129	​	​	—	​	​	269,129
Utility Improvement Refund/Employee Retention Credit Receivable	​	​	466,705	​	​	—	​	​	466,705
Inventories, Net	​	​	11,267,969	​	​	—	​	​	11,267,969
Licenses, Net	​	​	—	​	​	—	​	​	—
Manufacturing Vendor Prepayments	​	​	998,671	​	​	—	​	​	998,671
Prepaid Expenses and Other Assets	​	​	2,115,853	​	​	(609,156)	​	​	1,506,697
​	​	​	​	​	​	​	​	​	​
Total Current Assets	​	​	91,241,241	​	​	(609,156)	​	​	90,632,085
Long-Term Assets	​	​		​	​	​	​	​	​
Fixed Assets, Net	​	​	3,878,505	​	​	—	​	​	3,878,505
Operating Lease Right-of-Use Asset	​		956,165	​		—	​		956,165
Patents and Trademarks, Net	​	​	2,220,094	​	​	—	​	​	2,220,094
Technology Licenses, Net	​	​	30,158,689	​	​	—	​	​	30,158,689
Intangible Asset, Net	​	​	675,313	​	​	—	​	​	675,313
Goodwill	​	​	1,601,400	​	​	—	​	​	1,601,400
Other Assets, Net	​	​	1,581,143	​	​	(631,143)	​	​	950,000
​	​	​	​	​	​	​	​	​	​
Total Assets	​	$	132,312,550	​	$	(1,240,299)	​	$	131,072,251
​	​	​	​	​	​	​	​	​	​
LIABILITIES AND STOCKHOLDERS' EQUITY	​	​		​	​	​	​	​	​
Total Liabilities	​	$	15,582,512	​	$	—	​	$	15,582,512
​	​	​	​	​	​	​	​	​	​
Stockholders' Equity	​	​		​	​	​	​	​	​
Common Stock	​	​	63,783	​	​	—	​	​	63,783
Additional Paid-in Capital	​	​	362,507,715	​	​	(1,240,299)	​	​	361,267,416
Accumulated Deficit	​	​	(243,835,716)	​	​	—	​	​	(243,835,716)
Treasury Stock	​	​	(2,005,744)	​	​	—	​	​	(2,005,744)
​	​	​	​	​	​	​	​	​	​
Total Stockholders' Equity	​	​	116,730,038	​	​	(1,240,299)	​	​	115,489,739
​	​	​	​	​	​	​	​	​	​
Total Liabilities and Stockholders' Equity	​	$	132,312,550	​	$	(1,240,299)	​	$	131,072,251

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

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Tabular disclosure of prior period adjustments to previously issued financial statements including (1) the effect of the correction on each financial statement line item and any per-share amounts affected for each prior period presented (2) the cumulative effect of the change on retained earnings or other appropriate components of equity or net assets in the statement of financial position, as of the beginning of the earliest period presented, and (3) the effect of the prior period adjustments (both gross and net of applicable income tax) on the net income of each prior period presented in the entity's annual report for the year in which the adjustments are made.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-8

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-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-7

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-Name Accounting Standards Codification
-Topic 250
-SubTopic 10
-Section 50
-Paragraph 9
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147483443/250-10-50-9

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