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Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Estimated Useful Lives of Assets

 

 

Category

 

Amortization

Period

Computer equipment

 

3 years

Furniture and fixtures

 

3 years

Office equipment

 

3 years

Software

 

3 years

Schedule of Revenue Differentiation

The Company measures sales volume based on medical procedures in which the Company’s products are sold and used (Cases). The Company considers Cases resulting from direct sales to medical facilities to be Retail Cases and Cases resulting from sales to third parties, such as non-medical facilities, distributors, or sub-distributors, to be Wholesale Cases. Some of the Company’s sales for Wholesale Cases are on a consignment basis with a third-party. When consigned, the revenue is not recorded until the device is implanted in a patient during surgery.  In the Company’s industry, Retail Cases are typically sold at higher price points than Wholesale Cases, resulting in greater revenue and gross profit per Case.

 

 

 

Year Ended

 

 

 

December 31, 2022

 

 

December 31, 2021

 

Category

 

 

 

 

 

 

 

 

Retail

 

$

17,369,057

 

 

$

18,749,685

 

Wholesale

 

 

1,275,727

 

 

 

1,664,583

 

Total

 

$

18,644,784

 

 

$

20,414,268