Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

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

September 30,

2018

    

September 30,

2017

  
Shares underlying options outstanding     79,385,000       47,850,000  
Shares underlying warrants outstanding     7,025,000       2,430,000  
Shares underlying convertible notes outstanding     187,500,000       131,250,000  
      273,910,000       181,565,000