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Summary of Significant Accounting Policies (Tables)
3 Months Ended
Mar. 31, 2022
Accounting Policies [Abstract]  
Schedule of Disaggregation of Revenue

In the following table, revenue is disaggregated by primary geographical market, major product line, and timing of revenue recognition.

 

In thousands of US dollars ($) 

Three Months Ended

March 31,

 
Primary geographical markets  2022   2021 
North America  $318   $208 
Europe   46    84 
Asia   116    268 
   $480  $560 

 

  

Three Months Ended

March 31,

 
Major products/services lines  2022   2021 
Hardware  $284   $377 
Consumables   40    102 
Contract research services   15    6 
Sample preparation accessories   31    29 
Agrochem products   83    - 
Technical support/extended service contracts   17    24 
Shipping and handling   10    19 
Other   -    3 
   $480   $560 

 

 

  

Three Months Ended

March 31,

 
Timing of revenue recognition  2022   2021 
Products transferred at a point in time  $448   $538 
Services transferred over time   32    22 
   $480  $560 
Schedule of Contract Balances

Contract balances

 

In thousands of US dollars ($) 

March 31,

2022

  

December 31,

2021

 
Receivables, which are included in ‘Accounts Receivable’  $292   $155 
Contract liabilities (deferred revenue)   48    41 
Schedule of Future Related to Performance Obligations

In thousands of US dollars ($)  2022   2023   Total 
Extended warranty service  $46   $3   $49 
Schedule of Customer Concentration Risk Percentage

The following table illustrates the level of concentration as a percentage of total revenues during the three months ended March 31, 2022 and 2021.

 

   For the Three Months Ended 
   March 31, 
   2022   2021 
Top Five Customers   73%   88%
Federal Agencies   0%   1%

 

The following table illustrates the level of concentration as a percentage of net accounts receivable balance as of March 31, 2022 and December 31, 2021. The Top Five Customers category may include federal agency receivable balances if applicable.

 

   March 31,
2022
   December 31,
2021
 
Top Five Customers   88%   82%
Federal Agencies   3%   5%
Schedule of Computation of Loss Per Share

The following table illustrates our computation of loss per share for the three months ended March 31, 2022 and 2021:

 

   2022   2021 
   For the Three Months Ended 
   March 31, 
   2022   2021 
Numerator:        
Net loss attributable to common stockholders  $(4,671,834)  $(7,038,686)
           
Denominator for basic and diluted loss per share:          
Weighted average common stock shares outstanding   9,695,189    4,865,826 
           
Loss per common share – basic and diluted  $(0.48)  $(1.45)

Schedule of Anti-dilutive Securities Excluded from Computation of Earnings Per Share

 

   As of March 31, 
   2022   2021 
Stock options   1,307,822    1,358,490 
Convertible debt   5,668,816    4,757,701 
Common stock warrants   16,350,438    14,901,211 
Convertible preferred stock:          
Series D Convertible Preferred Stock   25,000    25,000 
Series G Convertible Preferred Stock   26,857    26,857 
Series H Convertible Preferred Stock   33,334    33,334 
Series H2 Convertible Preferred Stock   70,000    70,000 
Series J Convertible Preferred Stock   115,267    115,267 
Series K Convertible Preferred Stock   229,334    229,334 
Series AA Convertible Preferred Stock   8,649,000    8,083,000 
    32,475,868    29,600,194 
Schedule of Stock Based Compensation Expense

 

   For the Three Months Ended 
   March 31, 
   2022   2021 
Cost of sales  $4,349   $5,053 
Research and development   18,909    25,862 
Selling and marketing   9,050    4,595 
General and administrative   32,175    25,727 
Total stock-based compensation expense  $64,483   $61,237 
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables set forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of March 31, 2022:

 

      

Fair value measurements at

March 31, 2022 using:

 
  

March 31,

2022

  

Quoted

prices in

active

markets

(Level 1)

  

Significant

other

observable

inputs

(Level 2)

  

Significant

unobservable

inputs

(Level 3)

 
Equity Securities  $79,114   $79,114    -    - 
Total Financial Assets  $79,114   $79,114   $-   $- 

 

The following tables set forth the Company’s financial assets and liabilities that were accounted for at fair value on a recurring basis as of December 31, 2021:

 

      

Fair value measurements at

December 31, 2021 using:

 
  

December 31,

2021

  

Quoted

prices in

active

markets

(Level 1)

  

Significant

other

observable

inputs

(Level 2)

  

Significant

unobservable

inputs

(Level 3)

 
Equity Securities   59,976    59,976    -    - 
Total Financial Assets  $59,976   $59,976   $-   $-