Annual report pursuant to Section 13 and 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2019

SIGNIFICANT ACCOUNTING POLICIES (Tables)

The following table presents our net sales by product category for the year ended December 31, 2019 and 2018:

		2019		2018
Sales/access fees	$	29,150	$	129,960
Distribution rights income		207,110		246,696
Membership/program fees		3,999		-
Net sales	$	240,259	$	376,656

Schedule of changes in deferred revenue

The following table presents the changes in deferred revenue, reflected as current and long term liabilities on the Company's consolidated balance sheet:

Balance as of December 31, 2018:
Short term	$	209,474
Long term		207,523
Total as of December 31, 2018		416,997
Cash payments received		32,349
Net sales recognized		(211,109	)
Balance as of December 31, 2019		238,237
Less short term		134,924
Long term	$	103,313

Schedule of computations of weighted average shares outstanding

	2019		2018
Shares underlying options outstanding		822,797		791,850
Shares underlying warrants outstanding		72,500		85,250
Shares underlying convertible notes outstanding		-		1,312,500
Convertible preferred stock outstanding		240,000		240,000
		1,135,297		2,429,600