General form of registration statement for all companies including face-amount certificate companies

SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.10.0.1
SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended 12 Months Ended
Sep. 30, 2018
Dec. 31, 2017
Significant Accounting Policies Tables Abstract    
Computations of weighted average shares outstanding

   

September 30,

2018

   

September 30,

2017

 
Shares underlying options outstanding     793,850       478,500  
Shares underlying warrants outstanding     70,250       24,300  
Shares underlying convertible notes outstanding     1,875,000       1,312,500  
      2,739,100       1,815,650  

    2017     2016  
Shares underlying options outstanding     478,850       478,500  
Shares underlying warrants outstanding     24,300       26,300  
Shares underlying convertible notes outstanding     1,312,500       1,997,063  
      1,815,650       2,501,863  

Revenue recognition of sales

The following table presents our net sales by product category for the three months ended September 30, 2018 and 2017:

 

    Three months Ended  
   

September 30,

2018

   

September 30,

2017

 
Sales/access fees   $ 18,760     $ 46,249  
Distribution rights income     59,824       101,344  
Net sales   $ 78,584     $ 147,593  

 

The following table presents our net sales by product category for the nine months ended September 30, 2018 and 2017:

 

    Nine months Ended  
   

September 30,

2018

   

September 30,

2017

 
Sales/access fees   $ 122,460     $ 113,500  
Distribution rights income     202,522       378,864  
Net sales   $ 324,982     $ 492,364  
 
Changes in deferred revenue
Balance as of December 31, 2017:      
Short term   $ 237,347  
Long term     401,346  
Total as of December 31, 2017     638,693  
Cash payments received     25,000  
Net sales recognized     (202,522 )
Balance as of September 30, 2018     461,171  
Less short term     215,236  
Long term   $ 245,935