Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.24.2.u1
SIGNIFICANT ACCOUNTING POLICIES (Tables)
6 Months Ended
Jun. 30, 2024
SIGNIFICANT ACCOUNTING POLICIES  
Schedule of net sales

 

 

Three Months Ended

June 30,

 

 

 

2024

 

 

2023

 

Sales/access fees

 

$ -

 

 

$ 9,245

 

Distribution rights income

 

 

4,045

 

 

 

8,721

 

Membership/program fees

 

 

-

 

 

 

1,669

 

Net sales

 

$ 4,045

 

 

$ 19,635

 

 

 

Six Months Ended

June 30,

 

 

 

2024

 

 

2023

 

Sales/access fees

 

$ 2,205

 

 

$ 10,255

 

Project support income

 

 

-

 

 

 

25,817

 

Distribution rights income

 

 

4,045

 

 

 

17,347

 

Membership/program fees

 

 

1,415

 

 

 

6,658

 

Net sales

 

$ 7,665

 

 

$ 60,077

 

Schedule of changes in deferred revenue

Balance as of December 31, 2023

 

 

 

Short term

 

$ -

 

Long term

 

 

4,045

 

Total as of December 31, 2023

 

 

4,045

 

Net sales recognized

 

 

(4,045 )

Balance as of June 30, 2024

 

$ -

 

Schedule of assets and liabilities measured at fair value on a recurring basis

 

 

June 30, 2024

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liability

 

$ -

 

 

$ -

 

 

$ 80,190

 

 

$ 80,190

 

 

 

$ -

 

 

$ -

 

 

$ 80,190

 

 

$ 80,190

 

 

 

December 31, 2023

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

Derivative liability

 

$ -

 

 

$ -

 

 

$ 53,460

 

 

$ 53,460

 

 

 

$ -

 

 

$ -

 

 

$ 53,460

 

 

$ 53,460

 

Schedule of derivative liability

 

 

 Derivative Liability

 

 

 

 

 

Fair value as of December 31, 2023

 

$ 53,460

 

Fair value at issuance

 

 

26,730

 

Fair value as of March 31, 2024

 

 

80,190

 

Fair value as of June 30, 2024

 

$ 80,190

 

Schedule of weighted average diluted shares

 

 

Six Months Ended

 

 

 

June 30,

 

 

 

2024

 

 

2023

 

Shares underlying options outstanding

 

 

995,187

 

 

 

882,869

 

Shares underlying warrants outstanding

 

 

1,765,856

 

 

 

850,856

 

Convertible preferred stock outstanding

 

 

240,000

 

 

 

240,000

 

 

 

 

3,001,043

 

 

 

1,973,725