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Revenue

6 Months Ended

Jun. 30, 2022

Revenue [Abstract]

REVENUE

14. REVENUE

We primarily offer the First DefenseÒ product line to dairy and beef producers to prevent scours in newborn calves. Generally, our products are promoted to veterinarians as well as dairy and beef producers by our sales team and then sold through distributors. Our primary market is North America. We do sell into select international regions and may expand this international reach in the future. There were no material changes between the allocation and timing of revenue recognition during the six-month period ended June 30, 2022 or the year ended December 31, 2021. We do not have any contract assets for which we have satisfied the performance obligations, but do not yet have the right to bill for, or contract liabilities such as customer advances. All trade receivables on our balance sheets are from contracts with customers. We incur no material costs to obtain contracts.

The following tables present our product sales disaggregated by geographic area:

		During the Three-Month Periods Ended June 30,																During the Six-Month Periods Ended June 30,
		2022				%				2021				%				2022				%				2021				%
United States		$	3,561,316				92	%		$	4,030,237				89	%		$	9,077,065				92	%		$	7,610,753				88	%
Other			300,056				8	%			511,573				11	%			783,991				8	%			1,038,203				12	%
Total Product Sales		$	3,861,372				100	%		$	4,541,810				100	%		$	9,861,056				100	%		$	8,648,956				100	%

The following tables present our product sales disaggregated by major product category:

		During the Three-Month Periods Ended June 30,																During the Six-Month Periods Ended June 30,
		2022				%				2021				%				2022				%				2021				%
First Defense® product line		$	3,823,466				99	%		$	4,472,947				98	%		$	9,786,340				99	%		$	8,496,419				98	%
Other animal health			37,906				1	%			68,863				2	%			74,716				1	%			152,537				2	%
Total Product Sales		$	3,861,372				100	%		$	4,541,810				100	%		$	9,861,056				100	%		$	8,648,956				100	%

The following tables present our product sales disaggregated by geographic area:

		During the Years Ended December 31,
		2021				%				2020				%
United States		$	16,620,363				86	%		$	13,644,768				89	%
Other			2,622,606				14	%			1,697,436				11	%
Total Product Sales		$	19,242,969				100	%		$	15,342,204				100	%

The following tables present our product sales disaggregated by major product category:

		During the Years Ended December 31,
		2021				%				2020				%
First Defense® product line		$	18,933,092				98	%		$	15,072,446				98	%
Other animal health			309,877				2	%			269,758				2	%
Total Product Sales		$	19,242,969				100	%		$	15,342,204				100	%

X

- Definition

The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 430
-URI https://asc.fasb.org/topic&trid=2122452

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X

- References

No definition available.

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