XML 42 R31.htm IDEA: XBRL DOCUMENT v3.24.3
Summary of Significant Accounting Policies (Tables)
9 Months Ended
Sep. 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 September 30, 2024 
   Level 1   Level 2   Level 3   Total 
Assets:                
Cash and money market accounts  $3,808,633   $
   $
   $3,808,633 
                     
Liabilities:                    
Bank debt  $
   $9,703,821   $
   $9,703,821 
   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 September 30,

  

During the Nine-Month
Periods Ended September 30,

 
   2024   2023   2024   2023 
Company A   43%   50%   44%   48%
Company B   31%   29%   33%   31%
    As of
September 30, 2024
    As of
December 31, 2023
 
Company A     37 %     43 %
Company B     34 %     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 661,000 and 616,500 during the three-month periods ended September 30, 2024 and 2023, respectively, and 661,000 and 616,500 during the nine-month periods ended September 30, 2024 and 2023, respectively.
    During the Three-Month
Periods Ended September 30,
    During the Nine-Month
Periods Ended September 30,
 
    2024     2023     2024     2023  
Net loss attributable to stockholders   $ (701,690 )   $ (940,000 )   $ (2,671,184 )   $ (4,634,767 )
                                 
Weighted average common shares outstanding - Basic     8,164,423       7,746,864       7,908,425       7,746,864  
Dilutive impact of share-based compensation awards    
     
     
     
 
Weighted average common shares outstanding - Diluted     8,164,423       7,746,864       7,908,425       7,746,864  
                                 
Net loss per share:                                
Basic   $ (0.09 )   $ (0.12 )   $ (0.34 )   $ (0.60 )
Diluted   $ (0.09 )   $ (0.12 )   $ (0.34 )   $ (0.60 )