Significant Accounting Policies (Policies)

6 Months Ended

Jun. 30, 2021

Accounting Policies [Abstract]

New Accounting Pronouncements, Policy [Policy Text Block]

Recently Adopted Accounting Standards

In December 2019, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2019-12 “Income Taxes (Topic 740): Simplifying the Accounting of Income Taxes”, which is intended to simplify various aspects related to accounting for income taxes. ASU 2019-12 removes certain exceptions to the general principles in Topic 740 and also clarifies and amends existing guidance to improve consistent application. This guidance is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2020. The Company was not profitable for the six months ended June 30, 2021 and has a full valuation allowance on all net operating loss (“NOL”) tax carryforwards. As such, the adoption of this standard did not have a material impact on the Company’s financial statements.

In January 2020, the FASB issued ASU 2020-01, “Investments – Equity Securities (Topic 321), Investments—Equity Method and Joint Ventures (Topic 323), and Derivatives and Hedging (Topic 815): Clarifying the Interactions between Topic 321, Topic 323, and Topic 815”. The new guidance clarifies the interaction of accounting for the transition into and out of the equity method and the accounting for measuring certain purchased options and forward contracts to acquire investments. It is effective for fiscal years beginning after December 15, 2020, including interim periods within those fiscal years. The adoption of this standard did not have a material impact on the Company’s financial statements.

Revenue from Contract with Customer [Policy Text Block]

Revenue Recognition

Revenue is recognized based on the five-step process outlined in Accounting Standards Codification (“ASC”) 606.

The following tables summarize the revenues by product line:

	Three Months Ended June 30, 2021
	Device Revenue		Service Revenue		Other Revenue		Total Revenue
AXP	$	1,048,000	$	48,000	$	--	$	1,096,000
BioArchive		223,000		326,000		--		549,000
CAR-TXpress		287,000		30,000		72,000		389,000
Manual Disposables		116,000		--		--		116,000
Other		30,000		--		21,000		51,000
Total	$	1,704,000	$	404,000	$	93,000	$	2,201,000

	Six Months Ended June 30, 2021
	Device Revenue		Service Revenue		Other Revenue		Total Revenue
AXP	$	1,273,000	$	87,000	$	--	$	1,360,000
BioArchive		431,000		868,000		--		1,299,000
CAR-TXpress		542,000		58,000		143,000		743,000
Manual Disposables		245,000		--		--		245,000
Other		37,000		--		34,000		71,000
Total	$	2,528,000	$	1,013,000	$	177,000	$	3,718,000

	Three Months Ended June 30, 2020
	Device Revenue		Service Revenue		Other Revenue		Total Revenue
AXP	$	621,000	$	48,000	$	--	$	669,000
BioArchive		165,000		294,000		--		459,000
CAR-TXpress		550,000		13,000		71,000		634,000
Manual Disposables		198,000		--		--		198,000
Other		238,000		--		44,000		282,000
Total	$	1,772,000	$	355,000	$	115,000	$	2,242,000

	Six Months Ended June 30, 2020
	Device Revenue		Service Revenue		Other Revenue		Total Revenue
AXP	$	2,829,000	$	72,000	$	--	$	2,901,000
BioArchive		329,000		626,000		--		955,000
CAR-TXpress		702,000		25,000		142,000		869,000
Manual Disposables		401,000		--		--		401,000
Other		252,000		--		64,000		316,000
Total	$	4,513,000	$	723,000	$	206,000	$	5,442,000

Contract Balances

Generally, all sales are contract sales (with either an underlying contract or purchase order). The Company does not have any material contract assets. When invoicing occurs prior to revenue recognition, a contract liability is recorded (as deferred revenue on the consolidated balance sheet). Revenues recognized during the three and six months ended June 30, 2021 that were included in the beginning balance of deferred revenue were $130,000 and $403,000, respectively. Short-term deferred revenues increased from $608,000 to $903,000 and long-term deferred revenues decreased from $1,596,000 to $1,442,000 during the six months ended June 30, 2021, respectively.

Exclusivity Fee

On August 30, 2019, the Company entered into a Supply Agreement with Corning Incorporated (the “Supply Agreement”). The Supply Agreement has an initial term of five years with Corning having two options to renew for an additional two-years (up to four years total), unless terminated by either party in accordance with the terms of the Supply Agreement (collectively, the “Term”). Pursuant to the Supply Agreement, the Company has granted Corning exclusive worldwide distribution rights for substantially all X-Series® products under the CAR-TXpress™ platform (the “Products”) manufactured by its subsidiary, ThermoGenesis Corp., for the duration of the Term, subject to certain geographical and other exceptions. In addition to any amounts payable throughout the Term for the Products, as consideration for the exclusive worldwide distribution rights for the Products, Corning paid a $2,000,000 exclusivity fee. For the three and six months ended June 30, 2021 and 2020, the Company recorded revenue related to the exclusivity fee of $72,000 and $143,000, respectively. The remaining balance of the $2,000,000 payment of $1,477,000 was recorded to deferred revenue, with $286,000 in short term deferred revenue and $1,191,000 recorded in long-term deferred revenue.

Backlog of Remaining Customer Performance Obligations

The following table includes revenue expected to be recognized and recorded as sales in the future from the backlog of performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period.

	Remainder of 2021		2022		2023		2024		2025 and beyond		Total
Service revenue	$	690,000	$	886,000	$	412,000	$	151,000	$	85,000	$	2,224,000
Clinical revenue		6,000		13,000		13,000		13,000		160,000		205,000
Exclusivity fee		143,000		286,000		286,000		286,000		476,000		1,477,000
Total	$	839,000	$	1,185,000	$	711,000	$	450,000	$	721,000	$	3,906,000

Revenues are net of normal discounts. Shipping and handling fees billed to customers are included in net revenues, while the related costs are included in cost of revenues.

Reclassification, Comparability Adjustment [Policy Text Block]

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassifications did not have an impact on net loss as previously reported. For the three and six month period ended June 30, 2021, sales and marketing and general and administrative expenses were combined into one line item identified as sales, general and administrative expenses on the Statement of Operations. Additionally, the loss on equity method investments was combined with other income on the Statement of Operations.