Nature of Operations and Significant Accounting Policies (Tables)
|
9 Months Ended |
Sep. 30, 2022 |
Accounting Policies [Abstract] |
|
Schedule of Revenue by Source |
The
following table sets forth the Company’s revenue by source:
Schedule
of Revenue by Source
| |
2022 | | |
2021 | | |
2022 | | |
2021 | |
| |
For the Three Months Ended September
30, | | |
For the Nine Months Ended September 30, | |
| |
2022 | | |
2021 | | |
2022 | | |
2021 | |
Equipment and systems sales | |
$ | 4,941,380 | | |
$ | 3,523,948 | | |
$ | 9,375,093 | | |
$ | 9,933,313 | |
Engineering and other services | |
| 104,434 | | |
| 110,538 | | |
| 382,559 | | |
| 464,269 | |
Shipping and handling | |
| 17,265 | | |
| 71,950 | | |
| 64,739 | | |
| 184,888 | |
Total revenue | |
$ | 5,063,079 | | |
$ | 3,706,436 | | |
$ | 9,822,391 | | |
$ | 10,582,470 | |
|
Schedule of Remaining Performance Obligations Expected to be Recognized |
The
remaining performance obligations expected to be recognized through 2023 are as follows:
Schedule
of Remaining Performance Obligations Expected to be Recognized
| |
2022 | | |
2023 | | |
Total | |
Remaining performance obligations related to engineering only paid contracts | |
$ | - | | |
$ | - | | |
$ | - | |
Remaining performance obligations related to partial equipment paid contracts | |
| 2,561,000 | | |
| 4,271,000 | | |
| 6,832,000 | |
Total remaining performance obligations | |
$ | 2,561,000 | | |
$ | 4,271,000 | | |
$ | 6,832,000 | |
|
Schedule of Share-based Compensation Costs |
The
following is a summary of share-based compensation expenses included in the condensed consolidated statements of operations for the three
and nine months ended September 30, 2022 and September 30, 2021:
Schedule of Share-based Compensation Costs
| |
2022 | | |
2021 | | |
2022 | | |
2021 | |
| |
For the Three Months Ended
September 30, | | |
For the Nine Months Ended
September 30, | |
| |
2022 | | |
2021 | | |
2022 | | |
2021 | |
Share-based compensation expense included in: | |
| | | |
| | | |
| | | |
| | |
Cost of revenue | |
$ | 3,956 | | |
$ | - | | |
$ | 9,851 | | |
$ | 29,944 | |
Advertising and marketing expenses | |
| 2,457 | | |
| - | | |
| 9,300 | | |
| 13,292 | |
Product development costs | |
| 2,481 | | |
| - | | |
| 7,442 | | |
| 14,029 | |
Selling, general and administrative expenses | |
| 69,637 | | |
| 29,307 | | |
| 240,083 | | |
| 102,735 | |
Total share-based compensation expense included in consolidated statement of operations | |
$ | 78,531 | | |
$ | 29,307 | | |
$ | 266,676 | | |
$ | 160,000 | |
|