SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
3 Months Ended |
Mar. 31, 2020 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of inventory |
| |
|
March 31,
2020 |
|
|
December 31,
2019 |
|
| Raw Material |
|
$ |
461,881 |
|
|
$ |
372,101 |
|
| Work in Process |
|
|
51,451 |
|
|
|
— |
|
| Finished Goods |
|
|
47,075 |
|
|
|
55,415 |
|
| TOTAL INVENTORY |
|
$ |
560,407 |
|
|
$ |
427,516 |
|
|
| Schedule of disaggregation of revenue |
| |
|
Three Months Ended
March 31, |
|
| |
|
2020 |
|
|
2019 |
|
| Type of Revenue |
|
|
|
|
|
|
| Product revenue |
|
$ |
15,272 |
|
|
$ |
12,963 |
|
| Service revenue |
|
|
2,764 |
|
|
|
19,331 |
|
| Development revenue |
|
|
182,162 |
|
|
|
- |
|
| Total revenue |
|
$ |
200,198 |
|
|
$ |
32,294 |
|
| |
|
Three Months Ended
March 31, |
|
| |
|
2020 |
|
|
2019 |
|
| Timing of Revenue |
|
|
|
|
|
|
| Revenue recognized point in time |
|
$ |
15,272 |
|
|
$ |
18,307 |
|
| Revenue recognized
over time |
|
|
184,926 |
|
|
|
13,987 |
|
| Total revenue |
|
$ |
200,198 |
|
|
$ |
32,294 |
|
|
| Schedule of deferred warranty activity |
| |
|
Three Months Ended
March 31,
2020 |
|
|
Year Ended December 31, 2019 |
|
| Balance at beginning of period |
|
$ |
378,850 |
|
|
$ |
20,631 |
|
| Additions |
|
|
150,543 |
|
|
|
397,269 |
|
| Transfer to revenue |
|
|
(203,634 |
) |
|
|
(39,050 |
) |
| Balance at end of period |
|
$ |
325,759 |
|
|
$ |
378,850 |
|
|
| Schedule of lease costs |
| |
|
Three Months Ended
March 31, |
|
| |
|
2020 |
|
|
2019 |
|
| Components of total lease costs: |
|
|
|
|
|
|
| Operating lease expense |
|
$ |
83,255 |
|
|
$ |
148,085 |
|
| Short-term lease costs (1) |
|
|
4,250 |
|
|
|
12,717 |
|
| Sublease rental income |
|
|
(19,332 |
) |
|
|
- |
|
| Total lease costs |
|
$ |
68,173 |
|
|
$ |
160,802 |
|
|
| Schedule of ROU lease assets and lease liabilities |
| |
|
As of
March 31, 2020 |
|
|
As of
December 31, 2019 |
|
| Assets: |
|
|
|
|
|
|
| Operating lease assets |
|
$ |
265,340 |
|
|
$ |
331,419 |
|
| Total lease assets |
|
$ |
265,340 |
|
|
$ |
331,419 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
| Operating lease liabilities, current |
|
$ |
426,695 |
|
|
$ |
489,407 |
|
| Operating lease liabilities, net of current |
|
|
- |
|
|
|
52,449 |
|
| Total lease liabilities |
|
$ |
426,695 |
|
|
$ |
541,856 |
|
|
| Schedule of cash paid for amounts included in the measurement of lease liabilities |
| |
|
Three Months Ended
March 31, |
|
| |
|
2020 |
|
|
2019 |
|
| Operating cash flows for operating leases |
|
$ |
132,791 |
|
|
$ |
141,651 |
|
| Weighted average remaining lease term (in years) – operating lease |
|
|
0.8 |
|
|
|
2.77 |
|
| Weighted average discount rate – operating lease |
|
|
14 |
% |
|
|
14 |
% |
|
| Schedule of future minimum lease payments |
| Years ending December 31, |
|
|
|
| 2020 (9 months) |
|
$ |
398,375 |
|
| 2021 |
|
|
57,153 |
|
| Total future minimum lease payments |
|
|
455,528 |
|
| Lease imputed interest |
|
|
(28,833 |
) |
| Total |
|
$ |
426,695 |
|
|
| Schedule of net loss per share |
| |
|
Three months ended
March 31, |
|
| |
|
2020 |
|
|
2019 |
|
| Warrants to purchase common stock |
|
|
4,771,417 |
|
|
|
- |
|
| Options to purchase common stock |
|
|
694,625 |
|
|
|
- |
|
| Restricted stock purchase offers |
|
|
378,478 |
|
|
|
- |
|
| Convertible debt |
|
|
- |
|
|
|
140,678 |
|
| Total potentially dilutive securities |
|
|
5,844,520 |
|
|
|
140,678 |
|
|
| Schedule of concentration of customers |
| |
|
Three Months Ended
March 31, |
|
| Customer |
|
2020 |
|
|
2019 |
|
| A |
|
|
91 |
% |
|
|
-% |
|
| B |
|
|
-% |
|
|
|
80 |
% |
| C |
|
|
-% |
|
|
|
17 |
% |
|