Quarterly report pursuant to Section 13 or 15(d)

SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.19.3
SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2019
SIGNIFICANT ACCOUNTING POLICIES (Tables)  
Schedule of net sales

 

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

 

 

Three Months Ended

 

September 30,

2019

 

September 30,

2018

 

Sales/access fees

 

$

8,150

 

$

18,760

 

Distribution rights income

 

38,411

 

59,824

 

Net sales

 

$

46,561

 

$

78,584

 

The following table presents the Company's net sales by product category for the nine months ended September 30, 2019 and 2018:

 

 

Nine Months Ended

 

September 30,

2019

 

September 30,

2018

 

Sales/access fees

 

$

22,400

 

$

122,460

 

Distribution rights income

 

155,411

 

202,522

 

Net sales

 

$

177,811

 

$

324,982

 

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

 

(155,411

)

Balance as of September 30, 2019

 

261,586

 

Less short term

 

121,982

 

Long term

 

$

139,604

 

Schedule of computations of weighted average shares outstanding

 

 

September 30,

2019

 

September 30,

2018

 

Shares underlying options outstanding

 

818,630

 

793,850

 

Shares underlying warrants outstanding

 

72,500

 

70,250

 

Shares underlying convertible notes outstanding

 

-

 

1,875,000

 

Convertible preferred stock outstanding

 

240,000

 

240,000

 

1,131,130

 

2,979,100