Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.23.1
Summary of Significant Accounting Policies (Tables)
 3 Months Ended
Mar. 31, 2023
Summary of Significant Accounting Policies [Abstract]  
Schedule of inventory
    March 31,
2023		     December 31,
2022		  
Raw Material   $ 2,475,695     $ 2,041,776  
Work in Process     319,470       89,080  
Finished Goods     1,067,869       142,415  
Less Inventory Reserves     (100,254 )     (100,254 )
Total Inventory, Net   $ 3,762,780     $ 2,173,017  

 
Schedule of disaggregated revenues
    Three months ended
March 31,		  
    2023     2022  
Type of Revenue            
Product revenue   $ 2,355,781     $ 149,270  
Service and subscription revenue     79,938       60,117  
Development revenue     160,272       200,811  
Total revenue   $ 2,595,991     $ 410,198  

 

    Three months ended
March 31,		  
    2023     2022  
Timing of Revenue            
Revenue recognized point in time   $ 2,435,719     $ 149,270  
Revenue recognized over time     160,272       260,928  
Total revenue   $ 2,595,991     $ 410,198  

 
Schedule of revenue, based on location services
    Three months ended
March 31,		  
    2023     2022  
Country of Revenue, based on location services were provided or product was shipped to:            
United States   $ 1,130,202     $ 410,198  
United Arab Emirates     1,398,651      
-
  
Israel     67,138      
-
  
Total revenue   $ 2,595,991     $ 410,198  

 
Schedule of contract assets and liabilities
    Three Months
Ended
March 31,
2023		     Year Ended
December 31,
2022		  
Balance at beginning of period   $ 61,508     $ 512,397  
Additions, net     1,761,010       527,268  
Transfer to revenue     (1,410,110 )     (978,157 )
Balance at end of period   $ 412,408     $ 61,508  

 
Schedule of lease costs
    Three Months ended
March 31,		  
    2023     2022  
Components of total lease costs:            
Operating lease expense   $ 339,282     $ 204,147  
Common area maintenance expense     43,335       22,714  
Short-term lease costs (1)     46,952       26,840  
Total lease costs   $ 429,569     $ 253,701  

 

(1) Represents short-term leases with an initial term of 12 months or less, which are immaterial.

 
Schedule of ROU lease assets and lease liabilities
    March 31,
2023		     December 31,
2022		  
Assets:            
Operating lease assets   $ 2,926,886     $ 2,930,996  
Total lease assets   $ 2,926,886     $ 2,930,996  
                 
Liabilities:                
Operating lease liabilities, current   $ 694,640     $ 580,593  
Operating lease liabilities, net of current     2,406,813       2,456,315  
Total lease liabilities   $ 3,101,453     $ 3,036,908  

 
Schedule of future lease payments
Years ending December 31,      
2023(9 months)   $ 678,387  
2024     595,842  
2025     513,900  
2026     529,320  
2027     545,250  
Thereafter     752,490  
Total future minimum lease payments   $ 3,615,189  
Lease imputed interest     (513,736 )
Total   $ 3,101,453  

 
Schedule of other leases information
    Three Months Ended
March 31,		  
    2023     2022  
Operating cash flows for operating leases   $ 342,206     $ 160,500  
Weighted average remaining lease term (in years) – operating lease     5.43       6.03  
Weighted average discount rate – operating lease     5.53 %     6.40 %

 
Schedule of diluted net loss per share
    Three months ended
March 31,		  
    2023     2022  
Warrants to purchase Common Stock     2,366,092       3,258,961  
Options to purchase Common Stock     5,465,398       1,514,941  
Potential shares issuable under 2022 Convertible Promissory Notes     29,195,675      
-
  
Restricted stock purchase offers     1,121,187       1,391,150  
Total potentially dilutive securities     38,148,352       6,165,052