SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
3 Months Ended |
Mar. 31, 2021 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of inventory |
| |
|
March 31,
2021 |
|
|
December 31,
2020 |
|
| Raw Material |
|
$ |
1,010,642 |
|
|
$ |
911,753 |
|
| Work in Process |
|
|
32,357 |
|
|
|
172,207 |
|
| Finished Goods |
|
|
109,248 |
|
|
|
68,145 |
|
| TOTAL INVENTORY, NET |
|
$ |
1,152,247 |
|
|
$ |
1,152,105 |
|
|
| Schedule of disaggregation of revenue |
| |
|
Three Months Ended
March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Type of Revenue |
|
|
|
|
|
|
| Product revenue |
|
$ |
17,600 |
|
|
$ |
15,272 |
|
| Service revenue |
|
|
8,210 |
|
|
|
2,764 |
|
| Development revenue |
|
|
1,138,140 |
|
|
|
182,162 |
|
| Other revenue |
|
|
814 |
|
|
|
- |
|
| Total revenue |
|
$ |
1,164,764 |
|
|
$ |
200,198 |
|
| |
|
Three Months Ended
March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Timing of Revenue |
|
|
|
|
|
|
| Revenue recognized point in time |
|
$ |
18,414 |
|
|
$ |
15,272 |
|
| Revenue recognized over time |
|
|
1,146,350 |
|
|
|
184,926 |
|
| Total revenue |
|
$ |
1,164,764 |
|
|
$ |
200,198 |
|
|
| Schedule of deferred revenue |
| |
|
Three Months Ended
March 31,
2021 |
|
|
Year Ended December 31, 2020 |
|
| Balance at beginning of period |
|
$ |
165,035 |
|
|
$ |
378,850 |
|
| Additions |
|
|
550,000 |
|
|
|
1,058,850 |
|
| Transfer to revenue |
|
|
(658,851 |
) |
|
|
(1,267,665 |
) |
| Balance at end of period |
|
$ |
56,184 |
|
|
$ |
165,035 |
|
|
| Schedule of lease costs |
| |
|
Three Months Ended
March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Components of total lease costs: |
|
|
|
|
|
|
| Operating lease expense |
|
$ |
80,627 |
|
|
$ |
83,255 |
|
| Short-term lease costs (1)
|
|
|
- |
|
|
|
4,250 |
|
| Sublease rental income |
|
|
- |
|
|
|
(19,332 |
) |
| Total lease costs |
|
$ |
80,627 |
|
|
$ |
68,173 |
|
|
| Schedule of ROU lease assets and lease liabilities |
| |
|
As of
March 31,
2021 |
|
|
As of
December 31, 2020 |
|
| Assets: |
|
|
|
|
|
|
| Operating lease assets |
|
$ |
- |
|
|
$ |
51,065 |
|
| Total lease assets |
|
$ |
- |
|
|
$ |
51,065 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
| Operating lease liabilities, current |
|
$ |
- |
|
|
$ |
56,168 |
|
| Operating lease liabilities, net of current |
|
|
- |
|
|
|
- |
|
| Total lease liabilities |
|
$ |
- |
|
|
$ |
56,168 |
|
|
| Schedule of other Information |
| |
|
Three Months Ended
March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Operating cash flows for operating leases |
|
$ |
85,730 |
|
|
$ |
132,791 |
|
| Weighted average remaining lease term (in years) – operating lease |
|
|
- |
|
|
|
0.8 |
|
| Weighted average discount rate – operating lease |
|
|
14 |
% |
|
|
14 |
% |
|
| Schedule of net loss per share |
| |
|
Three months ended
March 31, |
|
| |
|
2021 |
|
|
2020 |
|
| Warrants to purchase common stock |
|
|
593,006 |
|
|
|
1,590,473 |
|
| Options to purchase common stock |
|
|
1,701,639 |
|
|
|
231,542 |
|
| Restricted stock purchase offers |
|
|
640,805 |
|
|
|
126,160 |
|
| Total potentially dilutive securities |
|
|
2,935,450 |
|
|
|
1,948,175 |
|
|
| Schedule of concentration of customers |
| |
|
Three Months Ended
March 31, |
|
| Customer |
|
2021 |
|
|
2020 |
|
| A |
|
|
18 |
% |
|
|
91 |
% |
| B |
|
|
81 |
% |
|
|
- |
% |
|