XML 21 R8.htm IDEA: XBRL DOCUMENT v3.23.1
Description of Business
12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Description of Business

Note 1. Description of Business

 

Nature of Business

 

Sharps Technology, Inc. (“Sharps” or the “Company”) is a pre-revenue medical device company that has designed and patented various safety syringes and is seeking commercialization by manufacturing and distribution of its products.

 

The accompanying consolidated financial statements include the accounts of Sharps Technology, Inc. and its wholly owned subsidiary, Safegard Medical (Hungary) KFT, collectively referred to as the “Company.” All intercompany transactions and balances have been eliminated.

 

The Company’s fiscal year ends on December 31.

 

On April 13, 2022, the Company’s Initial Public Offering was deemed effective with trading commencing on April 14, 2022. The Company received net proceeds of $14.2 million on April 19, 2022 (See Note 8).