Organization and Significant Accounting Policies (Tables)

6 Months Ended

Jun. 30, 2022

Accounting Policies [Abstract]

Schedule of Earnings Per Share

Under ASC 606, disaggregated revenue from contracts with customers depicts the nature, amount, timing, and uncertainty of revenue and cash flows affected by economic factors. The Company has evaluated revenues recognized and the following table illustrates the disaggregation disclosure by customer’s location and performance obligation.

Disaggregation of Revenue

	Three Months ended June 30,
	2022								2021
	Commercial		Government		International		Total		Commercial		Government		International		Total
Simulators and accessories	$	3,521,100	$	1,422,233	$	1,737,301	$	6,680,634	$	543,890	$	3,503,592	$	106,933	$	4,154,415
Extended service-type warranties		30,546		747,878		27,646		806,070		25,547		673,970		28,965		728,482
Customized software and content		-		60,392		126,000		186,392		-		146,543		21,170		167,713
Installation and training		35,343		249,847		39,097		324,287		15,043		186,909		-		201,952
Licensing and royalties		-		-		-		-		2,630		-		-		2,630
Total Revenue	$	3,586,989	$	2,480,350	$	1,930,044	$	7,997,383	$	587,110	$	4,511,014	$	157,068	$	5,255,192

	Six Months ended June 30,
	2022								2021
	Commercial		Government		International		Total		Commercial		Government		International		Total
Simulators and accessories	$	5,101,292	$	4,646,791	$	2,643,938	$	12,392,021	$	815,528	$	5,181,515	$	1,184,118	$	7,181,161
Extended service-type warranties		62,033		1,478,238		45,308		1,585,579		47,621		1,344,554		49,015		1,441,190
Customized software and content		-		2,106		209,000		211,106		-		613,956		73,443		687,399
Installation and training		47,208		407,400		107,297		561,905		49,864		306,707		26,350		382,921
Licensing and royalties		-		-		-		-		4,430		-		-		4,430
Total Revenue	$	5,210,533	$	6,534,535	$	3,005,543	$	14,750,611	$	917,443	$	7,446,732	$	1,332,926	$	9,697,101

For the six months ended June 30, 2022, governmental customers comprised $6,534,535, or 44% of total net sales, commercial customers comprised $5,210,533, or 35% of total net sales, and international customers comprised $3,005,543, or 20% of total net sales. By comparison, for the six months ended June 30, 2021, governmental customers comprised $7,446,732, or 77% of total net sales, commercial customers comprised $917,443, or 9% of total net sales, and international customers comprised $1,332,926, or 14% of total net sales.

Schedule of Earnings Per Share

The net income per common share is computed by dividing net income by the weighted average of common shares outstanding. Diluted net income per share reflects the potential dilution, using the treasury stock method, that would occur if outstanding stock options and warrants were exercised. Earnings per share computations are as follows:

Schedule of Earnings Per Share

	Three Months Ended June 30,				Six Months Ended June 30,
	2022		2021		2022		2021
Net Income	$	787,374	$	529,359	$	1,364,448	$	1,184,522
Weighted average common stock outstanding		10,866,775		10,644,363		10,837,186		9,209,808
Incremental shares from stock options		25,527		48,875		30,481		(299	)
Weighted average common stock outstanding diluted		10,892,302		10,693,238		10,867,667		9,209,509
Net income per common share and common equivalent shares
Basic	$	0.07	$	0.05	$	0.13	$	0.13
Diluted	$	0.07	$	0.05	$	0.13	$	0.13