Organization and Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Accounting Policies [Abstract]

Schedule of Disaggregation of Revenues

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.

	Three Months ended September 30,
	2022									2021
	Commercial		Government		International			Total		Commercial		Government		International		Total
Simulators and accessories	$	198,886	$	2,641,214	$	369,906		$	3,210,006	$	1,370,466	$	2,645,312	$	723,471	$	4,739,249
Extended service-type warranties		29,798		650,839		14,368			695,005		31,910		656,870		25,180		713,960
Customized software and content		-		794,857		3,437			798,294		-		290,829		52,273		343,102
Installation and training		8,992		192,380		(5,860	)		195,512		42,952		190,098		59,500		292,550
Licensing and royalties		4,580		-		-			4,580		4,402		-		-		4,402
Total Sales Revenue	$	242,256	$	4,279,290	$	381,851		$	4,903,397	$	1,449,730	$	3,783,109	$	860,424	$	6,093,263

For the three months ended September 30, 2022, governmental customers comprised $4,279,290, or 87% of total net sales, commercial customers comprised $242,256, or 5% of total net sales, and international customers comprised $381,851, or 8% of total net sales. By comparison, for the three months ended September 30, 2021, governmental customers comprised $3,783,109, or 62%, of total net sales, commercial customers comprised $1,449,730, or 24%, of total net sales, and international customers comprised $860,424, or 14%, of total net sales.

Disaggregation of Revenue

	Nine Months ended September 30,
	2022								2021
	Commercial		Government		International		Total		Commercial		Government		International		Total
Simulators and accessories	$	1,412,539	$	11,175,641	$	3,013,844	$	15,602,024	$	2,183,796	$	7,828,503	$	1,907,588	$	11,919,887
Extended service-type warranties		91,836		2,129,077		59,675		2,280,588		79,531		2,001,423		74,196		2,155,150
Customized software and content		-		796,962		212,437		1,009,399		-		905,204		125,716		1,030,920
Installation and training		56,200		599,780		101,437		757,417		93,501		496,251		85,850		675,602
Licensing and royalties		4,580		-		-		4,580		8,805		-		-		8,805
Total Revenue	$	1,565,155	$	14,701,460	$	3,387,393	$	19,654,008	$	2,365,633	$	11,231,381	$	2,193,350	$	15,790,364

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 September 30,					Nine Months Ended September 30,
	2022			2021		2022		2021
Net Income (loss)	$	(802,881	)	$	1,342,972	$	561,567	$	2,527,494
Weighted average common stock outstanding		10,867,745			10,792,520		10,850,912		9,745,091
Incremental shares from stock options		-			239,402		19,930		366,367
Weighted average common stock outstanding, diluted		10,867,745			11,031,922		10,870,842		10,111,458
Net income (loss) per common share and common equivalent share
Basic	$	(0.07	)	$	0.12	$	0.05	$	0.26
Diluted	$	(0.07	)	$	0.12	$	0.05	$	0.25