XML 42 R31.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Summary of Significant Accounting Policies (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2024
Summary of Significant Accounting Policies [Abstract] |
Schedule of Assets or Liabilities Measured at Fair Value on a Nonrecurring Basis | These values are reflected in the following tables:
|  | As of June 30, 2024 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and money market accounts |  | $ | 1,324,285 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,324,285 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank debt |  | $ | — |  |  | $ | 9,854,011 |  |  | $ | — |  |  | $ | 9,854,011 |
|  | As of December 31, 2023 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Cash and money market accounts |  | $ | 978,741 |  |  | $ | — |  |  | $ | — |  |  | $ | 978,741 |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Bank debt |  | $ | — |  |  | $ | 10,431,817 |  |  | $ | — |  |  | $ | 10,431,817 |
Schedule of Concentration of Risk | Sales to significant customers that amounted to 10% or more of total product sales are detailed in the following table:
|  | During the Three-Month Periods Ended June 30, |  |  | During the Six-Month Periods Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Company A |  |  | 44 | % |  |  | 47 | % |  |  | 45 | % |  |  | 47 | %
Company B |  |  | 33 | % |  |  | 33 | % |  |  | 34 | % |  |  | 32 | %
Trade accounts receivable due from significant customers that amounted to 10% or more of our total trade accounts receivable are detailed in the following table:
|  | As of June 30, 2024 |  |  | As of December 31, 2023 |
Company A |  |  | 39 | % |  |  | 43 | %
Company B |  |  | 38 | % |  |  | 36 | %
Schedule of Net Income (Loss) Per Common Share | Outstanding stock options that were not included in this calculation because the effect would be anti-dilutive amounted to 618,000 and 624,000 during the three-month periods ended June 30, 2024 and 2023, respectively, and 618,000 and 624,000 during the six-month periods ended June 30, 2024 and 2023, respectively.
|  | During the Three-Month Periods Ended June 30, |  |  | During the Six-Month Periods Ended June 30, |
|  | 2024 |  |  | 2023 |  |  | 2024 |  |  | 2023 |
Net loss attributable to stockholders |  | $ | (1,531,626 | ) |  | $ | (1,379,714 | ) |  | $ | (1,969,494 | ) |  | $ | (3,694,767 | )
Weighted average common shares outstanding - Basic |  |  | 7,810,037 |  |  |  | 7,746,864 |  |  |  | 7,780,450 |  |  |  | 7,746,864 |
Dilutive impact of share-based compensation awards |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Weighted average common shares outstanding - Diluted |  |  | 7,810,037 |  |  |  | 7,746,864 |  |  |  | 7,780,450 |  |  |  | 7,746,864 |
Net loss per share: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Basic |  | $ | (0.20 | ) |  | $ | (0.18 | ) |  | $ | (0.25 | ) |  | $ | (0.48 | )
Diluted |  | $ | (0.20 | ) |  | $ | (0.18 | ) |  | $ | (0.25 | ) |  | $ | (0.48 | )

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 assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
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 -Topic 260 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482662/260-10-50-1 + 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 the nature of a concentration, a benchmark to which it is compared, and the percentage that the risk is to the benchmark. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 825 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-21 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-20 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 18 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-18 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 20 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-20 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 16 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-16 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -Section 50 -Paragraph 21 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482861/275-10-50-21 + Details
Name: | us-gaap_SchedulesOfConcentrationOfRiskByRiskFactorTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration