XML 17 R7.htm IDEA: XBRL DOCUMENT v3.21.2
NOTE 1 — Basis of Presentation
9 Months Ended
Sep. 30, 2021
Accounting Policies [Abstract]  
NOTE 1 — Basis of Presentation

NOTE 1 Basis of Presentation

 

The accompanying unaudited condensed financial statements of Socket Mobile, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by accounting principles generally accepted in the United States for complete financial statements. In the opinion of management, all adjustments, consisting only of normal recurring accruals considered necessary for fair presentation have been included. The results of operations for the interim periods are not necessarily indicative of the operating results for the full fiscal year or any future period. These financial statements should be read in conjunction with the audited financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.

 

We continue to monitor developments of the COVID-19 pandemic. The extent of the impact of the COVID-19 pandemic to our business, operating results, cash flows, liquidity and financial condition will be primarily driven by the severity and duration of the pandemic, the impact of new strains and variants of the coronavirus, the pandemic’s impact on the global economy and the administration and effectiveness of vaccines. Those primary drivers are beyond our knowledge and control, and as a result, it is difficult to predict the cumulative impact that the pandemic will have on our future sales, operating results, cash flows and financial condition. Furthermore, the impact to our business, operating results, cash flows, liquidity and financial condition may be further adversely impacted if the COVID-19 global pandemic continues to exist or worsens for a prolonged period of time.