Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2022 | May 13, 2022 | |
Document Information Line Items | ||
Entity Registrant Name | REFLECT SCIENTIFIC INC | |
Trading Symbol | RSCF | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 84,989,086 | |
Amendment Flag | false | |
Entity Central Index Key | 0001103090 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Mar. 31, 2022 | |
Document Fiscal Year Focus | 2022 | |
Document Fiscal Period Focus | Q1 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Entity File Number | 000-31377 | |
Entity Incorporation, State or Country Code | UT | |
Entity Tax Identification Number | 87-0642556 | |
Entity Address, Address Line One | 1266 South 1380 West | |
Entity Address, City or Town | Orem | |
Entity Address, State or Province | UT | |
Entity Address, Postal Zip Code | 84058 | |
City Area Code | (801) | |
Local Phone Number | 226-4100 | |
Title of 12(g) Security | Common shares, $0.01 par value | |
Entity Interactive Data Current | Yes |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
CURRENT ASSETS | ||
Cash | $ 1,579,533 | $ 1,473,924 |
Accounts receivable, net | 233,329 | 175,649 |
Inventory, net | 695,607 | 624,486 |
Prepaid assets | 3,510 | 31,306 |
Total Current Assets | 2,511,979 | 2,305,365 |
OTHER ASSETS | ||
Operating lease right-of-use assets | 96,702 | 110,483 |
Goodwill | 60,000 | 60,000 |
Deposits | 3,100 | 3,100 |
Total Other Assets | 159,802 | 173,583 |
TOTAL ASSETS | 2,671,781 | 2,478,948 |
CURRENT LIABILITIES | ||
Accounts payable and accrued expense | 83,446 | 66,837 |
Contract liabilities | 89,003 | 118,566 |
Operating lease liabilities – short term | 58,028 | 56,446 |
Total Current Liabilities | 230,477 | 241,849 |
LONG-TERM LIABILITIES | ||
Operating lease liability – long-term | 42,249 | 57,393 |
Total Liabilities | 272,726 | 299,242 |
STOCKHOLDERS’ EQUITY | ||
Preferred stock, $0.01 par value, authorized 5,000,000 shares; No shares issued and outstanding | ||
Common stock, $0.01 par value, authorized 100,000,000 shares; 84,989,086 and 84,989,086 issued and outstanding at March 31, 2022 and December 31, 2021, respectively | 849,890 | 849,890 |
Additional paid in capital | 20,239,775 | 20,226,931 |
Accumulated deficit | (18,690,610) | (18,897,115) |
Total Stockholders’ Equity | 2,399,055 | 2,179,706 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 2,671,781 | $ 2,478,948 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Preferred Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.01 | $ 0.01 |
Preferred Stock, Shares Authorized | 5,000,000 | 5,000,000 |
Preferred Stock, Shares Issued | ||
Preferred Stock, Shares outstanding | ||
Common Stock, Par or Stated Value Per Share (in Dollars per share) | $ 0.01 | $ 0.01 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares, Outstanding | 84,989,086 | 84,989,086 |
Common Stock, Shares, Issued | 84,989,086 | 84,989,086 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Income (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Income Statement [Abstract] | ||
REVENUES | $ 753,576 | $ 562,362 |
COST OF GOODS SOLD | 234,289 | 143,795 |
GROSS PROFIT | 519,287 | 418,567 |
OPERATING EXPENSES | ||
Salaries and wages | 170,279 | 136,604 |
Research and development | 25,325 | 8,697 |
General and administrative | 117,178 | 136,763 |
Total Operating Expenses | 312,782 | 282,064 |
OPERATING INCOME | 206,505 | 136,503 |
OTHER INCOME (EXPENSE) | ||
Gain on forgiveness of loan | 111,265 | |
NET INCOME BEFORE TAXES | 206,505 | 247,768 |
Provision for income taxes | ||
NET INCOME | $ 206,505 | $ 247,768 |
NET INCOME PER SHARE – BASIC (in Dollars per share) | $ 0 | $ 0 |
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING – BASIC (in Shares) | 84,989,086 | 84,739,086 |
NET INCOME PER SHARE - DILUTED (in Dollars per share) | $ 0 | $ 0 |
WEIGHTED AVAERAGE NUMBER OF SHARES OUTSTANDING - DILUTED (in Shares) | 85,739,086 | 84,739,086 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders’ Equity - USD ($) | Common Stock Amount | Additional Paid-In Capital | Accumulated Deficit | Total |
Balance at Dec. 31, 2020 | $ 847,390 | $ 20,201,931 | $ (19,836,180) | $ 1,213,141 |
Balance (in Shares) at Dec. 31, 2020 | 84,739,086 | |||
Net income | 247,768 | 247,768 | ||
Balance at Mar. 31, 2021 | $ 847,390 | 20,201,931 | (19,588,412) | 1,460,909 |
Balance (in Shares) at Mar. 31, 2021 | 84,739,086 | |||
Balance at Dec. 31, 2021 | $ 849,890 | 20,226,931 | (18,897,115) | 2,179,706 |
Balance (in Shares) at Dec. 31, 2021 | 84,989,086 | |||
Stock-based compensation | 12,844 | 12,844 | ||
Net income | 206,505 | 206,505 | ||
Balance at Mar. 31, 2022 | $ 849,890 | $ 20,239,775 | $ (18,690,610) | $ 2,399,055 |
Balance (in Shares) at Mar. 31, 2022 | 84,989,086 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES | ||
Net income | $ 206,505 | $ 115,095 |
Adjustments to reconcile net income to net cash provided by | ||
Stock-based compensation | 12,844 | |
Amortization of operating lease right-of-use asset | 13,871 | 14,969 |
Gain on forgiveness | (111,265) | |
Changes in operating assets and liabilities: | ||
Accounts receivable | (57,680) | 106,848 |
Inventory | (71,121) | (136,126) |
Prepaid expenses | 27,796 | 21,034 |
Accounts payable and accrued expenses | 16,609 | 73,686 |
Operating lease liabilities | (13,652) | (13,965) |
Customer deposits | (29,563) | 61,324 |
Net Cash from Operating Activities | 105,609 | 264,273 |
CASH FLOWS FROM INVESTING ACTIVITIES | ||
Net Cash from investing activities | ||
CASH FLOWS FROM FINANCING ACTIVITIES | ||
Net cash from financing activities | ||
NET CHANGE IN CASH | 105,609 | 264,273 |
CASH AT BEGINNING OF PERIOD | 1,473,924 | 642,542 |
CASH AT END OF PERIOD | 1,579,533 | 906,815 |
Cash Paid For: | ||
Interest | ||
Income taxes |
Basis of Financial Statement Pr
Basis of Financial Statement Presentation | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
BASIS OF FINANCIAL STATEMENT PRESENTATION | BASIS OF FINANCIAL STATEMENT PRESENTATION The accompanying unaudited condensed consolidated financial statements have been prepared by the Company pursuant to accounting principles generally accepted in the United States of America. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted in accordance with rules and regulations of the Securities and Exchange Commission. The information furnished in the interim condensed consolidated financial statements includes normal recurring adjustments and reflects all adjustments, which, in the opinion of management, are necessary for a fair presentation of such financial statements. Although management believes the disclosures and information presented are adequate to make the information not misleading, it is suggested that these interim condensed consolidated financial statements be read in conjunction with the Company ’ |
Organization and Summary of Sig
Organization and Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES ORGANIZATION AND LINE OF BUSINESS: Reflect Scientific, Inc. (the Company) was incorporated under the laws of the State of Utah on November 3, 1999 as Cole, Inc. The Company was organized to engage in any lawful activity for which corporations may be organized under the Utah Revised Business Corporation Act. On December 30, 2003 the Company changed its name to Reflect Scientific, Inc. Reflect Scientific designs, develops and sells scientific equipment for the Life Science and Manufacturing industries. The Company ’ “ ” SIGNIFICANT ACCOUNTING POLICIES: PRINCIPLES OF CONSOLIDATION:The accompanying consolidated financial statements include the accounts of Reflect Scientific, Inc. and its wholly owned subsidiary, Cryometrix. Intercompany transactions and accounts have been eliminated in consolidation. USE OF ESTIMATES: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. CASH: The Company considers all deposit accounts and investment accounts with an original maturity of 90 days or less to be cash equivalents. REVENUE RECOGNITION: We have applied the new revenue standard to all contracts from the date of initial application. We recognize revenue when or as we satisfy a performance obligation. We generally satisfy performance obligations at a point in time upon shipment of goods or, with our freezers, upon final acceptance of the unit by the customer, in accordance with the terms of each contract with the customer. A part of our customer base is made up of international customers. The table below allocates revenue between domestic and international customers. For the Three Months Ended March 31, 2022 For the Three Months Ended March 31, 2021 Segments Total Total Domestic $ 520,901 520,901 $ 243,593 243,593 International 232,675 232,675 318,769 318,769 $ 753,576 753,576 $ 562,362 562,362 Components 251,882 251,882 228,533 228,533 Equipment 501,694 501,694 333,829 333,829 $ 753,576 753,576 $ 562,362 562,362 COST OF SALES: Charges to cost of sales are made on a first-in first-out method (FIFO). In addition to the component costs, some labor costs are allocated to cost of goods for the direct labor utilized to build the sub-assemblies and finished goods. ACCOUNTS RECEIVABLE: The Company maintains an allowance for doubtful accounts to provide for losses arising from customers ’ ’ PROPERTY AND EQUIPMENT: Property and equipment are stated at cost. Expenditure for minor repairs, maintenance, and replacement parts which do not increase the useful lives of the assets are charged to expense as incurred. All major additions and improvements are capitalized. Depreciation is computed using the straight-line method. The lives over which the fixed assets are depreciated range from 5 to 7 years, except for computer equipment, which is depreciated over a 3-year life. INVENTORIES: Inventories are stated at the lower of cost or market value based upon the average cost inventory method. The Company ’ INTANGIBLE ASSETS: Intangible assets include trademarks, trade secrets, patents, customer lists and goodwill acquired through acquisition of subsidiaries. The patents have been registered with the United States Patent and Trademarks Office. The costs of obtaining patents are capitalized as incurred. Intangibles, except for goodwill, are amortized over their estimated useful lives. The Company regularly evaluates whether events or circumstances have occurred that indicate possible impairment and relies on a number of factors, including operating results, business plans, economic projections, and anticipated future cash flows. The Company uses an estimate of the future undiscounted net cash flows of the related asset or asset group over the remaining life in measuring whether the assets are recoverable. Measurement of the amount of impairment, if any, is based upon the difference between the asset ’ . ’ GOODWILL: Goodwill represents the excess of the JMST assets acquired over the fair value of net assets acquired. Goodwill is not amortized but instead is tested for impairment, at a reporting unit level, annually and when events and circumstances warrant an evaluation. The Company evaluates goodwill on an annual basis, as of the end of the fourth quarter, and whenever events and changes in circumstances indicate that there may be a potential impairment. In making this assessment, management relies on a number of factors, including operating results, business plans, economic projections, anticipated future cash flows, business trends and market conditions. The Company ’ LEASES: In February of 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-02 - Leases (Topic 842), which significantly amends the way companies are required to account for leases. Under the updated leasing guidance, some leases that did not have to be reported previously are now required to be presented as an asset and liability on the balance sheet. In addition, for certain leases, what was previously classified as an operating expense must now be allocated between amortization expense and interest expense. The Company adopted this update as of January 1, 2019 using the modified retrospective transition method. INCOME TAXES: Deferred taxes are provided on an asset and liability approach whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. STOCK BASED COMPENSATION: The Company, in accordance with ASC 718, Compensation – Measurement Objective – The Company, in accordance with ASC 718, Compensation – RESEARCH AND DEVELOPMENT - The Company accounts for research and development costs in accordance with the Financial Accounting Standards Board's Accounting Standard Codification Topic 730 “ EARNINGS PER SHARE: The computation of basic profit and loss per share of common stock is based on the weighted average number of shares outstanding during the period. Diluted EPS is computed by dividing net earnings by the weighted-average number of common shares and dilutive common stock equivalents during the period. Common stock equivalents are not used in calculating dilutive EPS when their inclusion would be anti-dilutive. At March 31, 2022 the Company had 750,000 common stock equivalents outstanding in the form of restricted stock units ( “ ’ ” ’ RECENT ACCOUNTING PRONOUNCEMENTS: The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its consolidated results of operation, financial position and cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its current or future earnings or operations. |
Leases
Leases | 3 Months Ended |
Mar. 31, 2022 | |
Disclosure of Leases [Abstract] | |
LEASES | NOTE 3 - LEASES We have operating leases for our office and warehouse facility as well as for an automobile. We used the lease termination dates of November 30, 2023 for the building and July 7, 2021 for the automobile to calculate right of use ( “ ” The following was included in our consolidated condensed balance sheet as of March 31, 2022: Leases As of March 31, 2022 Assets ROU operating lease assets $ 96,702 Liabilities Operating lease liabilities - current portion $ 58,028 Operating lease liabilities 42,249 Total operating lease liabilities $100,277 We recognize lease expense on a straight-line basis over the term of the lease. Lease Cost Three Months Ended March 31, 2022 Operating lease cost Administrative expenses $ 1,887 Rent expense 17,609 Total operating lease cost $ 19,496 Our building lease does not specify an implicit rate of interest. Therefore, we estimate our incremental borrowing rate, which is defined as the interest rate we would pay to borrow on a collateralized basis, considering such factors as length of lease term and the risks of the economic environment in which the leased asset operates. As of March 31, 2022, the following disclosures for remaining lease term and incremental borrowing rates were applicable: Supplemental Disclosures Three Months Ended March 31, 2022 Weighted average remaining lease term 1.67 years Weighted average discount rate 5.25% |
Inventories
Inventories | 3 Months Ended |
Mar. 31, 2022 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | NOTE 4 – Inventories are presented net of an allowance for obsolescence and are stated at the lower of cost or market value based upon the average cost inventory method. The Company ’ Inventories consisted of the following at March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 Finished goods $ 522,823 $ 342,835 Raw materials 278,828 387,695 Inventory allowance (106,044) (106,044) Total Inventories, net $ 695,607 $ 624,486 |
Subsequent Events
Subsequent Events | 3 Months Ended |
Mar. 31, 2022 | |
Subsequent Events [Abstract] | |
SUBSEQUENT EVENTS | NOTE 5 - SUBSEQUENT EVENTS In accordance with ASC 855-10 management reviewed all material events through the date of this report. There are no material subsequent events to report. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND LINE OF BUSINESS | ORGANIZATION AND LINE OF BUSINESS: Reflect Scientific, Inc. (the Company) was incorporated under the laws of the State of Utah on November 3, 1999 as Cole, Inc. The Company was organized to engage in any lawful activity for which corporations may be organized under the Utah Revised Business Corporation Act. On December 30, 2003 the Company changed its name to Reflect Scientific, Inc. Reflect Scientific designs, develops and sells scientific equipment for the Life Science and Manufacturing industries. The Company ’ “ ” |
SIGNIFICANT ACCOUNTING POLICIES | SIGNIFICANT ACCOUNTING POLICIES: PRINCIPLES OF CONSOLIDATION:The accompanying consolidated financial statements include the accounts of Reflect Scientific, Inc. and its wholly owned subsidiary, Cryometrix. Intercompany transactions and accounts have been eliminated in consolidation. |
USE OF ESTIMATES | USE OF ESTIMATES: The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates. |
CASH | CASH: The Company considers all deposit accounts and investment accounts with an original maturity of 90 days or less to be cash equivalents. |
REVENUE RECOGNITION | REVENUE RECOGNITION: We have applied the new revenue standard to all contracts from the date of initial application. We recognize revenue when or as we satisfy a performance obligation. We generally satisfy performance obligations at a point in time upon shipment of goods or, with our freezers, upon final acceptance of the unit by the customer, in accordance with the terms of each contract with the customer. A part of our customer base is made up of international customers. The table below allocates revenue between domestic and international customers. |
COST OF SALES | COST OF SALES: Charges to cost of sales are made on a first-in first-out method (FIFO). In addition to the component costs, some labor costs are allocated to cost of goods for the direct labor utilized to build the sub-assemblies and finished goods. |
ACCOUNTS RECEIVABLE | ACCOUNTS RECEIVABLE: The Company maintains an allowance for doubtful accounts to provide for losses arising from customers ’ ’ |
PROPERTY AND EQUIPMENT | PROPERTY AND EQUIPMENT: Property and equipment are stated at cost. Expenditure for minor repairs, maintenance, and replacement parts which do not increase the useful lives of the assets are charged to expense as incurred. All major additions and improvements are capitalized. Depreciation is computed using the straight-line method. The lives over which the fixed assets are depreciated range from 5 to 7 years, except for computer equipment, which is depreciated over a 3-year life. |
INVENTORIES | INVENTORIES: Inventories are stated at the lower of cost or market value based upon the average cost inventory method. The Company ’ |
INTANGIBLE ASSETS | INTANGIBLE ASSETS: Intangible assets include trademarks, trade secrets, patents, customer lists and goodwill acquired through acquisition of subsidiaries. The patents have been registered with the United States Patent and Trademarks Office. The costs of obtaining patents are capitalized as incurred. Intangibles, except for goodwill, are amortized over their estimated useful lives. The Company regularly evaluates whether events or circumstances have occurred that indicate possible impairment and relies on a number of factors, including operating results, business plans, economic projections, and anticipated future cash flows. The Company uses an estimate of the future undiscounted net cash flows of the related asset or asset group over the remaining life in measuring whether the assets are recoverable. Measurement of the amount of impairment, if any, is based upon the difference between the asset ’ . ’ |
GOODWILL | GOODWILL: Goodwill represents the excess of the JMST assets acquired over the fair value of net assets acquired. Goodwill is not amortized but instead is tested for impairment, at a reporting unit level, annually and when events and circumstances warrant an evaluation. The Company evaluates goodwill on an annual basis, as of the end of the fourth quarter, and whenever events and changes in circumstances indicate that there may be a potential impairment. In making this assessment, management relies on a number of factors, including operating results, business plans, economic projections, anticipated future cash flows, business trends and market conditions. The Company ’ |
LEASES | LEASES: In February of 2016, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update No. 2016-02 - Leases (Topic 842), which significantly amends the way companies are required to account for leases. Under the updated leasing guidance, some leases that did not have to be reported previously are now required to be presented as an asset and liability on the balance sheet. In addition, for certain leases, what was previously classified as an operating expense must now be allocated between amortization expense and interest expense. The Company adopted this update as of January 1, 2019 using the modified retrospective transition method. |
INCOME TAXES | INCOME TAXES: Deferred taxes are provided on an asset and liability approach whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carryforwards and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax basis. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment. |
STOCK BASED COMPENSATION | STOCK BASED COMPENSATION: The Company, in accordance with ASC 718, Compensation – Measurement Objective – The Company, in accordance with ASC 718, Compensation – |
RESEARCH AND DEVELOPMENT | RESEARCH AND DEVELOPMENT - The Company accounts for research and development costs in accordance with the Financial Accounting Standards Board's Accounting Standard Codification Topic 730 “ |
EARNINGS PER SHARE | EARNINGS PER SHARE: The computation of basic profit and loss per share of common stock is based on the weighted average number of shares outstanding during the period. Diluted EPS is computed by dividing net earnings by the weighted-average number of common shares and dilutive common stock equivalents during the period. Common stock equivalents are not used in calculating dilutive EPS when their inclusion would be anti-dilutive. At March 31, 2022 the Company had 750,000 common stock equivalents outstanding in the form of restricted stock units ( “ ’ ” ’ |
RECENT ACCOUNTING PRONOUNCEMENTS | RECENT ACCOUNTING PRONOUNCEMENTS: The Company has reviewed all recently issued, but not yet adopted, accounting standards in order to determine their effects, if any, on its consolidated results of operation, financial position and cash flows. Based on that review, the Company believes that none of these pronouncements will have a significant effect on its current or future earnings or operations. |
Organization and Summary of S_2
Organization and Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Accounting Policies [Abstract] | |
Schedule of revenue between domestic and international customers | For the Three Months Ended March 31, 2022 For the Three Months Ended March 31, 2021 Segments Total Total Domestic $ 520,901 520,901 $ 243,593 243,593 International 232,675 232,675 318,769 318,769 $ 753,576 753,576 $ 562,362 562,362 Components 251,882 251,882 228,533 228,533 Equipment 501,694 501,694 333,829 333,829 $ 753,576 753,576 $ 562,362 562,362 |
Leases (Tables)
Leases (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Disclosure of Leases [Abstract] | |
Schedule of Lessee Operating Lease Disclosure | Leases As of March 31, 2022 Assets ROU operating lease assets $ 96,702 Liabilities Operating lease liabilities - current portion $ 58,028 Operating lease liabilities 42,249 Total operating lease liabilities $100,277 |
Schedule of Lease Cost | Lease Cost Three Months Ended March 31, 2022 Operating lease cost Administrative expenses $ 1,887 Rent expense 17,609 Total operating lease cost $ 19,496 |
Schedule of Supplemental Disclosure | Supplemental Disclosures Three Months Ended March 31, 2022 Weighted average remaining lease term 1.67 years Weighted average discount rate 5.25% |
Inventories (Tables)
Inventories (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Schedule of inventories | March 31, 2022 December 31, 2021 Finished goods $ 522,823 $ 342,835 Raw materials 278,828 387,695 Inventory allowance (106,044) (106,044) Total Inventories, net $ 695,607 $ 624,486 |
Organization and Summary of S_3
Organization and Summary of Significant Accounting Policies (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Dec. 31, 2021 | |
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||
Investment maturity days | 90 days | |
Accounts receivable, net | $ 233,401 | $ 175,649 |
Allowance for doubtful accounts | 4,000 | 4,000 |
Raw materials and finished goods, net of allowance | 695,607 | 624,486 |
Allowance for obsolescence | $ 106,044 | $ 106,044 |
Common stock equivalents outstanding (in Shares) | 750,000 | |
Property, Plant and Equipment [Member] | Minimum [Member] | ||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||
Estimated useful lives | 5 years | |
Property, Plant and Equipment [Member] | Maximum [Member] | ||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||
Estimated useful lives | 7 years | |
Computer Equipment [Member] | ||
Organization and Summary of Significant Accounting Policies (Details) [Line Items] | ||
Estimated useful lives | 3 years |
Organization and Summary of S_4
Organization and Summary of Significant Accounting Policies (Details) - Schedule of revenue between domestic and international customers - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Disaggregation of Revenue [Line Items] | ||
Total revenues | $ 753,576 | $ 562,362 |
Domestic [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 520,901 | 243,593 |
International [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 232,675 | 318,769 |
Components [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 251,882 | 228,533 |
Equipment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 501,694 | 333,829 |
Consumer Products [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 753,576 | 562,362 |
Consumer Products [Member] | Domestic [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 520,901 | 243,593 |
Consumer Products [Member] | International [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 232,675 | 318,769 |
Consumer Products [Member] | Components [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | 251,882 | 228,533 |
Consumer Products [Member] | Equipment [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total revenues | $ 501,694 | $ 333,829 |
Leases (Details)
Leases (Details) | 3 Months Ended |
Mar. 31, 2022 | |
Disclosure of Leases [Abstract] | |
Lease expiration date | Nov. 30, 2023 |
Leases (Details) - Schedule of
Leases (Details) - Schedule of Lessee Operating Lease Disclosure - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Schedule of Lessee Operating Lease Disclosure [Abstract] | ||
ROU operating lease assets | $ 96,702 | $ 110,483 |
Operating lease liabilities - current portion | 58,028 | $ 56,446 |
Operating lease liabilities | 42,249 | |
Total operating lease liabilities | $ 100,277 |
Leases (Details) - Schedule o_2
Leases (Details) - Schedule of Lease Cost | 3 Months Ended |
Mar. 31, 2022USD ($) | |
Operating lease cost | |
Administrative expenses | $ 1,887 |
Rent expense | 17,609 |
Total operating lease cost | $ 19,496 |
Leases (Details) - Schedule o_3
Leases (Details) - Schedule of Supplemental Disclosure | Mar. 31, 2022 |
Schedule of Supplemental Disclosure [Abstract] | |
Weighted average remaining lease term | 1 year 8 months 1 day |
Weighted average discount rate | 5.25% |
Inventories (Details)
Inventories (Details) - Inventories [Member] - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Inventories (Details) [Line Items] | ||
Finished goods, net of allowance | $ 695,607 | $ 624,486 |
Allowance for obsolescence | $ 106,044 | $ 106,044 |
Inventories (Details) - Schedul
Inventories (Details) - Schedule of inventories - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Schedule of inventories [Abstract] | ||
Finished goods | $ 522,823 | $ 342,835 |
Raw materials | 278,828 | 387,695 |
Inventory allowance | (106,044) | (106,044) |
Total Inventories, net | $ 695,607 | $ 624,486 |