Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2019

Significant Accounting Policies Tables Abstract

Schedule of net sales

The following table presents the Company’s net sales by product category for the three months ended June 30, 2019 and 2018:

		Three months Ended
		June 30, 2019				June 30, 2018
Sales/access fees		$	7,500			$	39,500
Distribution rights income			58,476				59,174
Net sales		$	65,976			$	98,674

The following table presents the Company’s net sales by product category for the six months ended June 30, 2019 and 2018:

		Six months Ended
		June 30, 2019				June 30, 2018
Sales/access fees		$	14,250			$	103,700
Distribution rights income			117,000				142,698
Net sales		$	131,250			$	246,398

Schedule of changes in deferred revenue

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			-
Net sales recognized			(117,000	)
Balance as of June 30, 2019			299,997
Less short term			131,434
Long term		$	168,563

Schedule of computations of weighted average shares outstanding

		June 30, 2019				June 30, 2018
Shares underlying options outstanding			843,630				478,850
Shares underlying warrants outstanding			85,250				12,750
Shares underlying convertible notes outstanding			2,227,575				1,875,000
Convertible preferred stock outstanding			240,000				240,000
			3,396,455				2,606,600