Summary of Significant Accounting Policies (Tables)
|
3 Months Ended |
Mar. 31, 2019 |
Accounting Policies [Abstract] |
|
Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash |
The following table provides a reconciliation of cash, cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same amounts shown in the statements of cash flows:
|
|
March 31, 2019 |
|
|
December 31, 2018 |
|
|
March 31, 2018 |
|
|
December 31, 2017 |
|
Cash and cash equivalents |
|
$ |
6,011,508 |
|
|
$ |
4,572,487 |
|
|
$ |
10,291,532 |
|
|
$ |
1,847,171 |
|
Restricted cash |
|
|
185,380 |
|
|
|
164,720 |
|
|
|
186,690 |
|
|
|
243,380 |
|
Total cash, cash equivalents and restricted cash in the condensed consolidated statement of cash flows |
|
$ |
6,196,888 |
|
|
$ |
4,737,207 |
|
|
$ |
10,478,222 |
|
|
$ |
2,090,551 |
|
|
Schedule of Inventories |
Inventories are valued using the first-in, first-out method and stated at the lower of cost or net realizable value and consist of the following:
|
|
March 31, 2019 |
|
|
December 31, 2018 |
|
Raw materials and supplies |
|
$ |
290,587 |
|
|
$ |
368,438 |
|
Work-in-process |
|
|
53,165 |
|
|
|
58,402 |
|
Finished goods |
|
|
155,100 |
|
|
|
116,907 |
|
Total |
|
$ |
498,852 |
|
|
$ |
543,747 |
|
|
Schedule of Finite-Lived Intangible Assets |
Finite-lived intangible assets include trademarks, developed technology and customer relationships and consisted of the following as of March 31, 2019 and December 31, 2018
|
|
|
|
|
|
March 31, 2019 |
|
|
December 31, 2018 |
|
|
|
Cost |
|
|
Accumulated
Amortization |
|
|
Net Balance |
|
|
Accumulated
Amortization |
|
|
Net Balance |
|
Trademarks and trade names |
|
$ |
461,000 |
|
|
$ |
(171,309 |
) |
|
$ |
289,691 |
|
|
$ |
(159,783 |
) |
|
$ |
301,217 |
|
Developed technology |
|
|
458,000 |
|
|
|
(243,102 |
) |
|
|
214,898 |
|
|
|
(226,746 |
) |
|
|
231,254 |
|
Customer relationships |
|
|
1,094,000 |
|
|
|
(580,177 |
) |
|
|
513,823 |
|
|
|
(541,105 |
) |
|
|
552,895 |
|
|
|
$ |
2,013,000 |
|
|
$ |
(994,588 |
) |
|
$ |
1,018,412 |
|
|
$ |
(927,634 |
) |
|
$ |
1,085,366 |
|
|