Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2020

SIGNIFICANT ACCOUNTING POLICIES

Schedule of net sales

The following table presents the Company’s net sales by product category for the three months ended June 30, 2020 and 2019:

		Three Months Ended June 30,
		2020				2019
Sales/access fees		$	3,750			$	7,500
Distribution rights income			28,645				58,476
Membership/program fees			1,300				-
Net sales		$	33,695			$	65,976

The following table presents the Company’s net sales by product category for the six months ended June 30, 2020 and 2019:

		Six Months Ended June 30,
		2020				2019
Sales/access fees		$	12,000			$	14,250
Distribution rights income			57,290				117,000
Membership/program fees			1,300
Net sales		$	70,590			$	131,250

Schedule of changes in deferred revenue

Balance as of December 31, 2019
Short term		$	134,924
Long term			103,313
Total as of December 31, 2019		$	238,237
Cash payments received			2,649
Net sales recognized			(58,590	)
Balance as of June 30, 2020			182,296
Less short term			95,077
Long term		$	87,219

Schedule of computations of weighted average shares outstanding

		Six Months Ended
		June 30,
		2020				2019
Shares underlying options outstanding		$	831,131			$	843,630
Shares underlying warrants outstanding			72,500				85,250
Shares underlying convertible notes outstanding			-				2,227,575
Convertible preferred stock outstanding			240,000				240,000
		$	1,143,631			$	3,396,455