XML 28 R19.htm IDEA: XBRL DOCUMENT
v3.22.1

SIGNIFICANT ACCOUNTING POLICIES (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2021
Accounting Policies [Abstract] |
SCHEDULE OF ERRORS RESULTED IN MISSTATEMENTS | These errors resulted in misstatements to our Balance Sheets, Statements of Operations, Statements of Stockholders’ Equity, and Statements of Cash Flows as of and for the three and six months ended June 30, 2021 as follows: SCHEDULE OF ERRORS RESULTED IN MISSTATEMENTS
|  | As of June 30, 2021 |
|  | As Previously |  |  | Restatement |  |  | As |
|  | Reported |  |  | Adjustment |  |  | Restated |
BALANCE SHEET |  |  |  |  |  |  |  |  |  |  |  |
Equity awards liability |  | $ | - |  |  |  | 709,355 |  |  | $ | 709,355 |
Liability for shares withheld |  | $ | - |  |  |  | 1,244,458 |  |  | $ | 1,244,458 |
Total current liabilities |  | $ | 3,267,936 |  |  |  | 1,953,813 |  |  | $ | 5,221,749 |
Total liabilities |  | $ | 3,274,534 |  |  |  | 1,953,813 |  |  | $ | 5,228,347 |
Common stock (dollars) |  | $ | 18,728 |  |  |  | (92 | ) |  | $ | 18,636 |
Additional paid-in capital |  | $ | 140,267,314 |  |  |  | 4,751,432 |  |  | $ | 145,018,746 |
Accumulated deficit |  | $ | (118,174,566 | ) |  |  | (6,705,153 | ) |  | $ | (124,879,719 | )
Total stockholders’ equity |  | $ | 22,111,476 |  |  |  | (1,953,813 | ) |  | $ | 20,157,663 |
Common stock (shares) |  |  | 18,727,552 |  |  |  | (92,634 | ) |  |  | 18,634,918 |
For the three months ended June 30, 2021 |
|  | As Previously Reported |  |  | Restatement Adjustment |  |  | As Restated |
STATEMENT OF OPERATIONS |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses |  | $ | 2,714,396 |  |  |  | 98,377 |  |  | $ | 2,812,773 |
Total operating expenses |  | $ | 4,067,020 |  |  |  | 98,377 |  |  | $ | 4,165,397 |
Loss from operations |  | $ | (738,395 | ) |  |  | (98,377 | ) |  | $ | (836,772 | )
Net loss |  | $ | (737,785 | ) |  |  | (98,377 | ) |  | $ | (836,162 | )
PER SHARE INFORMATION |  |  |  |  |  |  |  |  |  |  |  |
Loss per common share |  |  |  |  |  |  |  |  |  |  |  |
Basic and Diluted |  | $ | (0.04 | ) |  |  | 0.00 |  |  | $ | (0.04 | )
Weighted average common shares used in computing per share amounts - Basic and Diluted |  | $ | 18,708,409 |  |  |  | (92,634 | ) |  | $ | 18,615,775 |
For the six months ended June 30, 2021 |
|  | As Previously Reported |  |  | Restatement Adjustment |  |  | As Restated |
STATEMENT OF OPERATIONS |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses |  | $ | 5,095,176 |  |  |  | 3,662,759 |  |  | $ | 8,757,935 |
Total operating expenses |  | $ | 7,784,041 |  |  |  | 3,662,759 |  |  | $ | 11,446,800 |
Loss from operations |  | $ | (1,813,603 | ) |  |  | (3,662,759 | ) |  | $ | (5,476,362 | )
Net loss |  | $ | (1,797,851 | ) |  |  | (3,662,759 | ) |  | $ | (5,460,610 | )
PER SHARE INFORMATION |  |  |  |  |  |  |  |  |  |  |  |
Loss per common share |  |  |  |  |  |  |  |  |  |  |  |
Basic and Diluted |  | $ | (0.10 | ) |  | $ | (0.19 | ) |  | $ | (0.29 | )
Weighted average common shares used in computing per share amounts - |  |  |  |  |  |  |  |  |  |  |  |
Basic and Diluted |  |  | 18,612,512 |  |  |  | (64,170 | ) |  |  | 18,548,342 |
For the three months ended June 30, 2021 |
|  | As Previously Reported |  |  | Restatement Adjustment |  |  | As Restated |
STATEMENT OF STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |
Net loss |  | $ | (737,785 | ) |  |  | (98,377 | ) |  | $ | (836,162 | )
Common stock (shares) |  |  | 18,727,552 |  |  |  | (92,634 | ) |  |  | 18,634,918 |
Common stock (dollars) |  | $ | 18,728 |  |  |  | (92 | ) |  | $ | 18,636 |
Additional paid-in capital |  | $ | 140,267,314 |  |  |  | 4,751,432 |  |  | $ | 145,018,746 |
Accumulated deficit |  | $ | (118,174,566 | ) |  |  | (6,705,153 | ) |  | $ | (124,879,719 | )
Total stockholders’ equity |  | $ | 22,111,476 |  |  |  | (1,953,813 | ) |  | $ | 20,157,663 |
For the six months ended June 30, 2021 |
|  | As Previously Reported |  |  | Restatement Adjustment |  |  | As Restated |
STATEMENT OF STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |  |  |  |  |
Exercise of stock options, net of cashless exercise of 58,122 shares and 92,634 shares withheld |  | $ | 46,470 |  |  |  | 1,708,946 |  |  | $ | 1,755,416 |
Net loss |  | $ | (1,797,851 | ) |  |  | (3,662,759 | ) |  | $ | (5,460,610 | )
Common stock (shares) |  |  | 18,727,552 |  |  |  | (92,634 | ) |  |  | 18,634,918 |
Common stock (dollars) |  | $ | 18,728 |  |  |  | (92 | ) |  | $ | 18,636 |
Additional paid-in capital |  | $ | 140,267,314 |  |  |  | 4,751,432 |  |  | $ | 145,018,746 |
Accumulated deficit |  | $ | (118,174,566 | ) |  |  | (6,705,153 | ) |  | $ | (124,879,719 | )
Total stockholders’ equity |  | $ | 22,111,476 |  |  |  | (1,953,813 | ) |  | $ | 20,157,663 |
For the six months ended June 30, 2021 |
|  | As Previously Reported |  |  | Restatement Adjustment |  |  | As Restated |
STATEMENT OF CASH FLOWS |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (1,797,851 | ) |  |  | (3,662,759 | ) |  | $ | (5,460,610 | )
Equity compensation |  | $ | 1,631,616 |  |  |  | (3,662,759 | ) |  | $ | 5,294,375 |
Supplemental disclosure of noncash investing and financing activities: |  |  |  |  |  |  |  |  |  |  |  |
Reclassification of stock option awards |  | $ | - |  |  |  | 1,411,108 |  |  | $ | 1,411,108 |
SCHEDULE OF DISAGGREGATION OF REVENUE | In the following tables, revenue is disaggregated by product and service and the timing of revenue recognition. The table also includes a reconciliation of the disaggregated revenue. SCHEDULE OF DISAGGREGATION OF REVENUE
|  | For the Three Months Ended June 30, |
|  | 2021 |  |  | 2020 |
Products and services |  |  |  |  |  |  |  |
Software as a Service (SaaS) |  | $ | 3,233,610 |  |  | $ | 1,671,350 |
Other subscription and support services |  |  | 3,510 |  |  |  | 70,703 |
Equipment |  |  | 1,425,382 |  |  |  | 51,754 |
Non-recurring services |  |  | 32,200 |  |  |  | 41,450 |
Extended warranties on equipment |  |  | 2,448 |  |  |  | 5,845 |
Other |  |  | 99,991 |  |  |  | 1,093 |
|  | $ | 4,797,141 |  |  | $ | 1,842,195 |
Timing of revenue recognition |  |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 1,525,373 |  |  | $ | 52,847 |
Services transferred over time |  |  | 3,271,768 |  |  |  | 1,789,348 |
|  | $ | 4,797,141 |  |  | $ | 1,842,195 |
|  | For the Six Months Ended June 30, |
|  | 2021 |  |  | 2020 |
Products and services |  |  |  |  |  |  |  |
Software as a Service (SaaS) |  | $ | 6,009,317 |  |  | $ | 3,909,769 |
Other subscription and support services |  |  | 19,307 |  |  |  | 149,934 |
Equipment |  |  | 1,461,648 |  |  |  | 835,547 |
Non-recurring services |  |  | 53,200 |  |  |  | 41,450 |
Extended warranties on equipment |  |  | 5,604 |  |  |  | 12,175 |
Other |  |  | 110,606 |  |  |  | 8,592 |
|  | $ | 7,659,682 |  |  | $ | 4,957,467 |
Timing of revenue recognition |  |  |  |  |  |  |  |
Products transferred at a point in time |  | $ | 1,572,253 |  |  | $ | 844,139 |
Services transferred over time |  |  | 6,087,429 |  |  |  | 4,113,328 |
Revenues |  | $ | 7,659,682 |  |  | $ | 4,957,467 |
SCHEDULE OF REVENUE PERFORMANCE OBLIGATION | The following table includes estimated revenue expected to be recognized in the future related to performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period: SCHEDULE OF REVENUE PERFORMANCE OBLIGATION
|  | Remainder |  |  |  |  |  |  |  |  |  |
|  | 2021 |  |  | 2022 |  |  | 2023 |  |  | Total |
Software as a Service (SaaS) |  | $ | 414,351 |  |  | $ | 112,615 |  |  | $ | - |  |  | $ | 526,966 |
Other subscription and support services |  |  | 5,780 |  |  |  | 5,507 |  |  |  | 1,985 |  |  |  | 13,272 |
Extended warranties on equipment |  |  | 2,502 |  |  |  | 2,256 |  |  |  | 930 |  |  |  | 5,688 |
|  | $ | 422,633 |  |  | $ | 120,378 |  |  | $ | 2,915 |  |  | $ | 545,926 |
SCHEDULE OF EARNINGS PER SHARE BASIC AND DILUTED | SCHEDULE OF EARNINGS PER SHARE BASIC AND DILUTED
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Numerator: |  |  |  |  |  |  |  |  |  |  |  |
Net loss |  | $ | (836,162 | ) |  | $ | (760,273 | ) |  | $ | (5,460,610 | ) |  | $ | (733,671 | )
Denominator: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Weighted average common shares – |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic/Diluted |  |  | 18,615,775 |  |  |  | 16,377,539 |  |  |  | 18,548,342 |  |  |  | 16,265,544 |
Net loss per share – |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic/Diluted |  | $ | (0.04 | ) |  | $ | (0.05 | ) |  | $ | (0.29 | ) |  | $ | (0.05 | )
SUMMARY OF COMMON STOCK EQUIVALENTS EXCLUDED FROM LOSS PER DILUTED SHARE | The following table summarizes the common stock equivalents excluded from loss per diluted share because their effect would be anti-dilutive to the net loss: SUMMARY OF COMMON STOCK EQUIVALENTS EXCLUDED FROM LOSS PER DILUTED SHARE
|  | Three Months Ended |  |  | Six Months Ended |
|  | June 30, |  |  | June 30, |
|  | 2021 |  |  | 2020 |  |  | 2021 |  |  | 2020 |
Stock options |  |  | 502,424 |  |  |  | 1,263,257 |  |  |  | 502,424 |  |  |  | 1,263,257 |
Warrants |  |  | - |  |  |  | 13,430 |  |  |  | - |  |  |  | 13,430 |
Restricted stock |  |  | 409,765 |  |  |  | 7,284 |  |  |  | 409,765 |  |  |  | 7,284 |
Performance stock units |  |  | 233,848 |  |  |  | - |  |  |  | 233,848 |  |  |  | - |
Antidilutive securities excluded from computation of earnings per share amount |  |  | 1,146,037 |  |  |  | 1,283,971 |  |  |  | 1,146,037 |  |  |  | 1,283,971 |

X
- References No definition available. + Details
Name: | us-gaap_AccountingPoliciesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130545-203045 + Details
Name: | us-gaap_DisaggregationOfRevenueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of expected timing for satisfying remaining performance obligation. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 606 -SubTopic 10 -Section 50 -Paragraph 13 -Subparagraph (b)(1) -URI http://asc.fasb.org/extlink&oid=123351226&loc=SL49130556-203045 + Details
Name: | us-gaap_RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) in the future that were not included in the computation of diluted EPS because to do so would increase EPS amounts or decrease loss per share amounts for the period presented, by antidilutive securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfAntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's basic and diluted earnings per share calculations, including a reconciliation of numerators and denominators of the basic and diluted per-share computations for income from continuing operations. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 260 -SubTopic 10 -Section 50 -Paragraph 1 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=124432515&loc=d3e3550-109257 + Details
Name: | us-gaap_ScheduleOfEarningsPerShareBasicAndDilutedTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition 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 -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22663-107794 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22644-107794 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 250 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=124431687&loc=d3e22658-107794 + Details
Name: | us-gaap_ScheduleOfErrorCorrectionsAndPriorPeriodAdjustmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration