Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.21.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
3 Months Ended
Mar. 31, 2021
Accounting Policies [Abstract]  
Disaggregation of Revenue [Table Text Block]

A reconciliation of contract liabilities with customers is presented below:

 

   

Balance at

December 31, 2020

   

Consideration Received

   

Recognized in Revenue

   

Balance at

March 31, 2021

 

Product revenue

  $ -     $ 115,367     $ (115,367

)

  $ -  

Service revenue

    -       64,312       (2,680

)

    61,632  

Total

  $ -     $ 179,679     $ (118,047

)

  $ 61,632  

 

Deferred Revenue, by Arrangement, Disclosure [Table Text Block]

The table below summarizes our deferred revenue as of March 31, 2021 and December 31, 2020:

 

   

March 31,

2021

   

December 31,

2020

 

Deferred revenue-current

  $ 32,156     $ -  

Deferred revenue-noncurrent

    29,476       -  

Total deferred revenue

  $ 61,632     $ -  

 

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] Potentially dilutive securities excluded from the computation of basic and diluted net income (loss) per share are as follows:
   

March 31,

2021

   

March 31,

2020

 

Series C convertible preferred stock

    47,659       81,465  

Options to purchase common stock

    3,780,037       3,828,896  

Warrants to purchase common stock

    1,436,200       1,963,030  

Restricted stock units to acquire common stock

    346,000       181,334  

Totals

    5,609,896       6,054,725