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v3.24.1.1.u2

Segment Information (Tables) | 3 Months Ended
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Mar. 31, 2024
Segment Information [Abstract] |
Schedule of Segment Information | Our chief operating decision-maker is our President and CEO.
|  | During the Three-Month Period Ended March 31, 2024 |
|  | Scours |  |  | Mastitis |  |  | Other |  |  | Total |
Product sales |  | $ | 7,220,641 |  |  | $ | 36,936 |  |  | $ | — |  |  | $ | 7,257,577 |
Costs of goods sold |  |  | 4,923,548 |  |  |  | 38,670 |  |  |  | — |  |  |  | 4,962,218 |
Gross margin |  |  | 2,297,093 |  |  |  | (1,734 | ) |  |  | — |  |  |  | 2,295,359 |
Product development expense |  |  | 29,495 |  |  |  | 1,202,941 |  |  |  | 30,114 |  |  |  | 1,262,550 |
Sales and marketing expenses |  |  | 669,739 |  |  |  | 131,184 |  |  |  | — |  |  |  | 800,923 |
Administrative expenses |  |  | — |  |  |  | — |  |  |  | 531,938 |  |  |  | 531,938 |
Operating expenses |  |  | 699,234 |  |  |  | 1,334,125 |  |  |  | 562,052 |  |  |  | 2,595,411 |
NET OPERATING INCOME (LOSS) |  | $ | 1,597,859 |  |  | $ | (1,335,859 | ) |  | $ | (562,052 | ) |  | $ | (300,052 | )
|  | During the Three-Month Period Ended March 31, 2023 |
|  | Scours |  |  | Mastitis |  |  | Other |  |  | Total |
Product sales |  | $ | 3,411,232 |  |  | $ | 35,295 |  |  | $ | — |  |  | $ | 3,446,527 |
Costs of goods sold |  |  | 3,103,958 |  |  |  | 41,794 |  |  |  | — |  |  |  | 3,145,752 |
Gross margin |  |  | 307,274 |  |  |  | (6,499 | ) |  |  | — |  |  |  | 300,775 |
Product development expenses |  |  | 291 |  |  |  | 1,076,344 |  |  |  | 33,733 |  |  |  | 1,110,368 |
Sales and marketing expenses |  |  | 690,544 |  |  |  | 188,883 |  |  |  | — |  |  |  | 879,427 |
Administrative expenses |  |  | — |  |  |  | — |  |  |  | 567,019 |  |  |  | 567,019 |
Operating expenses |  |  | 690,835 |  |  |  | 1,265,227 |  |  |  | 600,752 |  |  |  | 2,556,814 |
NET OPERATING (LOSS) |  | $ | (383,561 | ) |  | $ | (1,271,726 | ) |  | $ | (600,752 | ) |  | $ | (2,256,039 | )
|  | Scours |  |  | Mastitis |  |  | Other |  |  | Total |
Total Assets as of March 31, 2024 |  | $ | 24,160,698 |  |  | $ | 17,550,907 |  |  | $ | 1,339,443 |  |  | $ | 43,051,048 |
Total Assets as of March 31, 2023 |  | $ | 21,519,208 |  |  | $ | 18,253,991 |  |  | $ | 3,349,988 |  |  | $ | 43,123,187 |
Depreciation and amortization expense during the three-month period ended March 31, 2024 |  | $ | 338,919 |  |  | $ | 318,718 |  |  | $ | 19,863 |  |  | $ | 677,500 |
Depreciation and amortization expense during the three-month period ended March 31, 2023 |  | $ | 323,257 |  |  | $ | 317,624 |  |  | $ | 17,948 |  |  | $ | 658,829 |
Capital Expenditures during the three-month period ended March 31, 2024 |  | $ | 39,474 |  |  | $ | 30,882 |  |  | $ | — |  |  | $ | 70,356 |
Capital Expenditures during the three-month period ended March 31, 2023 |  | $ | 571,736 |  |  | $ | 110,430 |  |  | $ | — |  |  | $ | 682,166 |
|  | During the Year Ended December 31, 2023 |
|  | Scours |  |  | Mastitis |  |  | Other |  |  | Total |
Product sales |  | $ | 17,293,933 |  |  | $ | 177,736 |  |  | $ | — |  |  | $ | 17,471,669 |
Costs of goods sold |  |  | 13,453,514 |  |  |  | 148,871 |  |  |  | — |  |  |  | 13,602,385 |
Gross margin |  |  | 3,840,419 |  |  |  | 28,865 |  |  |  | — |  |  |  | 3,869,284 |
Product development expense |  |  | 11,103 |  |  |  | 4,242,329 |  |  |  | 141,420 |  |  |  | 4,394,852 |
Sales and marketing expenses |  |  | 2,447,137 |  |  |  | 641,078 |  |  |  | — |  |  |  | 3,088,215 |
Administrative expenses |  |  | — |  |  |  | — |  |  |  | 2,134,295 |  |  |  | 2,134,295 |
Operating expenses |  |  | 2,458,240 |  |  |  | 4,883,407 |  |  |  | 2,275,715 |  |  |  | 9,617,362 |
NET OPERATING INCOME (LOSS) |  | $ | 1,382,179 |  |  | $ | (4,854,542 | ) |  | $ | (2,275,715 | ) |  | $ | (5,748,078 | )
|  | During the Year Ended December 31, 2022 |
|  | Scours |  |  | Mastitis |  |  | Other |  |  | Total |
Product sales |  | $ | 18,411,949 |  |  | $ | 154,558 |  |  | $ | 1,455 |  |  | $ | 18,567,962 |
Costs of goods sold |  |  | 10,754,189 |  |  |  | 136,347 |  |  |  | 28,647 |  |  |  | 10,919,183 |
Gross margin |  |  | 7,657,760 |  |  |  | 18,211 |  |  |  | (27,192 | ) |  |  | 7,648,779 |
Product development expenses |  |  | 66,346 |  |  |  | 4,317,921 |  |  |  | 109,605 |  |  |  | 4,493,872 |
Sales and marketing expenses |  |  | 1,871,926 |  |  |  | 1,318,107 |  |  |  | — |  |  |  | 3,190,033 |
Administrative expenses |  |  | — |  |  |  | — |  |  |  | 2,263,817 |  |  |  | 2,263,817 |
Operating expenses |  |  | 1,938,272 |  |  |  | 5,636,028 |  |  |  | 2,373,422 |  |  |  | 9,947,722 |
NET OPERATING INCOME (LOSS) |  | $ | 5,719,488 |  |  | $ | (5,617,817 | ) |  | $ | (2,400,614 | ) |  | $ | (2,298,943 | )
|  | Scours |  |  | Mastitis |  |  | Other |  |  | Total |
Total Assets as of December 31, 2023 |  | $ | 24,735,413 |  |  | $ | 17,827,839 |  |  | $ | 1,244,850 |  |  | $ | 43,808,102 |
Total Assets as of December 31, 2022 |  | $ | 20,539,523 |  |  | $ | 18,315,492 |  |  | $ | 6,005,634 |  |  | $ | 44,860,649 |
Depreciation and amortization expense during the year ended December 31, 2023 |  | $ | 1,365,988 |  |  | $ | 1,287,600 |  |  | $ | 86,032 |  |  | $ | 2,739,620 |
Depreciation and amortization expense during the year ended December 31, 2022 |  | $ | 1,169,011 |  |  | $ | 1,263,318 |  |  | $ | 62,912 |  |  | $ | 2,495,241 |
Capital Expenditures during the year ended December 31, 2023 |  | $ | 1,096,819 |  |  | $ | 795,694 |  |  | $ | — |  |  | $ | 1,892,513 |
Capital Expenditures during the year ended December 31, 2022 |  | $ | 3,513,336 |  |  | $ | 414,486 |  |  | $ | 47,452 |  |  | $ | 3,975,274 |

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- Definition Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 25 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-25 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-22 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 280 -SubTopic 10 -Section 50 -Paragraph 30 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482810/280-10-50-30 + Details
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