XML 13 R2.htm IDEA: XBRL DOCUMENT v3.23.1
Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
   Cash and cash equivalents $ 3,623,469 $ 6,095,886
   Accounts receivable, net 2,659,861 2,576,240
   Inventories, net 5,601,691 5,154,524
   Prepaid expenses and other current assets 617,188 395,161
   Deferred cost on shipments to distributors 266,327 158,977
      Total current assets 12,768,536 14,380,788
Property and equipment:    
   Machinery and office equipment 1,533,087 2,436,897
   Computer equipment 2,715,121 1,909,895
Property and equipment, gross 4,248,208 4,346,792
   Accumulated depreciation (2,590,999) (3,277,979)
      Property and equipment, net 1,657,209 1,068,813
Intangible assets, net 1,693,927 1,813,961
Other long-term assets 250,239 140,281
Deferred tax assets 8,668,419 7,960,419
Operating lease right-of-use asset 3,559,658 210,839
      Total assets 28,597,988 25,575,101
Current liabilities:    
   Accounts payable and accrued expenses 1,665,028 2,169,055
   Accrued payroll and related expenses 742,541 692,994
   Deferred revenue on shipments to distributors 594,793 407,235
   Short term portion of deferred service revenue 22,599 17,128
   Notes payable – current portion 125,000 500,000
   Subordinated convertible notes payable, net of discount 147,409 143,514
   Subordinated convertible notes payable, net of discount-related party 1,230,530 1,201,334
   Operating lease – current portion 444,529 258,097
      Total current liabilities 4,972,429 5,389,357
Long-term portion of note payable 125,000
Long-term portion of operating lease 3,292,035
Long-term portion of deferred service revenue 11,767 14,281
   Total liabilities 8,276,231 5,528,638
Commitments and contingencies
Stockholders’ equity:    
Common stock, $0.001 par value: Authorized – 20,000,000 shares, Issued and outstanding – 7,089,676 shares at December 31, 2022 and 7,183,874 shares at December 31, 2021 7,090 7,184
   Additional paid-in capital 67,157,650 66,139,630
   Treasury stock (829,563)
   Accumulated deficit (46,013,420) (46,100,351)
      Total stockholders’ equity 20,321,757 20,046,463
         Total liabilities and stockholders’ equity $ 28,597,988 $ 25,575,101