Annual report pursuant to Section 13 and 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.24.1
SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2023
SIGNIFICANT ACCOUNTING POLICIES  
Schedule of net sales

 

 

2023

 

 

2022

 

Sales/access fees

 

 $ 20,852

 

 

 $ 14,360

 

Project support income

 

 

 25,817

 

 

 

 150,578

 

Distribution rights income

 

 

 33,256

 

 

 

 37,293

 

Membership/program fees

 

 

 9,235

 

 

 

 11,610

 

Net sales

 

 $ 89,160

 

 

 $ 213,841

 
Schedule of changes in deferred revenue

Balance as of December 31, 2022:

 

 

 

Short term

 

 $ 33,256

 

Long term

 

 

 4,045

 

Total as of December 31, 2022

 

 

 37,301

 

Net sales recognized

 

 

 (33,256 )

Balance as of December 31, 2023

 

 

 4,045

 

Less short term

 

 

 -

 

Long term

 

 $ 4,045

 
Schedule of derivative financial instruments

 

 

December 31, 2023

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liability

 

 $ -

 

 

 $ -

 

 

 $ 53,460

 

 

 $ 53,460

 

 

 

 $ -

 

 

 $ -

 

 

 $ 53,460

 

 

 $ 53,460

 
Schedule of activities of derivative liability

 

 

 Derivative Liability

 

 

 

 

 

Fair value at issuance

 

 $ 53,460

 

Fair value as of December 31, 2023

 

 $ 53,460

 
Schedule of computations of weighted average shares outstanding

 

 

2023

 

 

2022

 

Shares underlying options outstanding

 

 

 891,443

 

 

 

 874,058

 

Shares underlying warrants outstanding

 

 

 1,565,856

 

 

 

 333,855

 

Convertible preferred stock outstanding

 

 

 240,000

 

 

 

 240,000

 

 

 

 

 2,697,299

 

 

 

 1,447,913