XML 40 R24.htm IDEA: XBRL DOCUMENT v3.23.1
Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Changes in Allowance for Doubtful Accounts

The changes in our allowance for doubtful accounts for the years ended December 31, 2022 and 2021, were as follows:

 

 

 

Years ended December 31,

 

 

 

2022

 

 

2021

 

Beginning balance

 

$

840,522

 

 

$

935,261

 

Bad debt expense

 

 

1,737,169

 

 

 

213,158

 

Uncollectible accounts written off, net

 

 

(401,681

)

 

 

(307,897

)

Ending balance

 

$

2,176,010

 

 

$

840,522

 

Schedule of Property and Equipment Useful Lives

The useful lives of property and equipment for purposes of computing depreciation are as follows:

 

Computer equipment

 

3 to 5 years

Office furniture and fixtures

 

5 to 7 years

Machinery and equipment

 

5 to 7 years

Leasehold improvements

 

5 to 7 years

Schedule of Number of Customers that Accounted for More than Ten Percentage of Annual Sales and Receivable Balances The following table discloses the number of customers that accounted for more than 10% of our annual revenue and their related receivable balances for the years ended December 31, 2022 and 2021:

 

 

 

Customers Exceeding 10%
of Revenue

 

Year

 

Number of
Customers

 

 

Revenue
Combined Percent

 

 

Accounts Receivable
Combined Percent

 

2022

 

 

2

 

 

 

24

%

 

 

18

%

2021

 

 

2

 

 

 

38

%

 

 

8

%