Cover
Cover - USD ($) | 12 Months Ended | ||
Dec. 31, 2022 | Feb. 15, 2023 | Jun. 30, 2022 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 31, 2022 | ||
Document Fiscal Period Focus | FY | ||
Document Fiscal Year Focus | 2022 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity File Number | 000-27793 | ||
Entity Registrant Name | ELECTRONIC SYSTEMS TECHNOLOGY INC. | ||
Entity Central Index Key | 0000752294 | ||
Entity Tax Identification Number | 91-1238077 | ||
Entity Incorporation, State or Country Code | WA | ||
Entity Address, Address Line One | 415 N. Roosevelt St. | ||
Entity Address, Address Line Two | STE B1 | ||
Entity Address, City or Town | Kennewick | ||
Entity Address, State or Province | WA | ||
Entity Address, Postal Zip Code | 99336 | ||
City Area Code | (509) | ||
Local Phone Number | 735-9092 | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Voluntary Filers | No | ||
Entity Current Reporting Status | Yes | ||
Entity Interactive Data Current | Yes | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Small Business | true | ||
Entity Emerging Growth Company | false | ||
Entity Shell Company | false | ||
Entity Public Float | $ 861,449 | ||
Entity Common Stock, Shares Outstanding | 4,946,502 | ||
Auditor Name | Assure CPA, LLC. | ||
Auditor Location | Spokane, Washington | ||
Auditor Firm ID | 444 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 751,118 | $ 655,616 |
Certificates of deposit | 251,699 | 400,000 |
Accounts receivable - net | 141,394 | 166,303 |
Inventories - net | 725,478 | 501,833 |
Prepaid expenses | 42,627 | 24,387 |
Employee retention tax credit receivable (Note 10) | 63,000 | 0 |
Accrued interest receivable | 808 | 35 |
Total Current Assets | 1,976,124 | 1,748,174 |
PROPERTY AND EQUIPMENT – NET | 914 | 1,358 |
Right of use – asset, net of amortization (NOTE 8) | 69,419 | 28,922 |
TOTAL ASSETS | 2,046,457 | 1,778,454 |
CURRENT LIABILITIES | ||
Accounts payable | 138,996 | 71,645 |
Accrued wages | 24,777 | 9,114 |
Operating lease liability – current (NOTE 8) | 39,120 | 28,438 |
Accrued vacation payable | 16,846 | 13,613 |
Other accrued liabilities | 8,913 | 14,827 |
Total Current Liabilities | 228,652 | 137,637 |
Operating lease liability (NOTE 8) | 30,457 | 0 |
TOTAL LIABILITIES | 259,109 | 137,637 |
STOCKHOLDERS’ EQUITY | ||
Common stock - $.001 par value 50,000,000 shares authorized, 4,946,502 and 4,946,502 shares issued and outstanding, respectively | 4,947 | 4,947 |
Additional paid-in capital | 932,412 | 932,412 |
Retained earnings | 849,989 | 703,458 |
TOTAL STOCKHOLDERS’ EQUITY | 1,787,348 | 1,640,817 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 2,046,457 | $ 1,778,454 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 2022 | Dec. 31, 2021 |
Statement of Financial Position [Abstract] | ||
Common Stock, Par or Stated Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 50,000,000 | 50,000,000 |
Common Stock, Shares, Issued | 4,946,502 | 4,946,502 |
Common Stock, Shares, Outstanding | 4,946,502 | 4,946,502 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Statement [Abstract] | ||
SALES – NET | $ 1,910,061 | $ 1,512,028 |
COST OF SALES | 881,409 | 744,246 |
GROSS PROFIT | 1,028,652 | 767,782 |
OPERATING EXPENSES | 950,338 | 957,654 |
OPERATING INCOME/(LOSS) | 78,314 | (189,872) |
OTHER INCOME: | ||
Interest income | 5,217 | 2,488 |
Gain on Employee Retention Credit (Note 10) | 63,000 | 0 |
Gain on forgiveness of CARES Act loan (Note 10) | 0 | 280,373 |
TOTAL OTHER INCOME | 68,217 | 282,861 |
NET INCOME BEFORE INCOME TAXES | 146,531 | 92,989 |
INCOME TAX PROVISION (BENEFIT) | 0 | 0 |
NET INCOME AFTER INCOME TAXES | $ 146,531 | $ 92,989 |
NET INCOME PER SHARE, BASIC AND DILUTED | $ 0.03 | $ 0.02 |
WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC AND DILUTED | 4,946,502 | 4,946,502 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2020 | $ 4,947 | $ 931,442 | $ 610,469 | $ 1,546,858 |
Beginning Balance, Shares at Dec. 31, 2020 | 4,946,502 | |||
Net income | 92,989 | 92,989 | ||
Share based compensation | 970 | 970 | ||
Ending balance, value at Dec. 31, 2021 | $ 4,947 | 932,412 | 703,458 | 1,640,817 |
Ending Balance, Shares at Dec. 31, 2021 | 4,946,502 | |||
Net income | 146,531 | 146,531 | ||
Ending balance, value at Dec. 31, 2022 | $ 4,947 | $ 932,412 | $ 849,989 | $ 1,787,348 |
Ending Balance, Shares at Dec. 31, 2022 | 4,946,502 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income | $ 146,531 | $ 92,989 |
Noncash expenses included in net income: | ||
Depreciation and amortization | 444 | 5,169 |
Share based compensation | 0 | 970 |
Gain on forgiveness of CARES Act loan | 0 | (280,373) |
Gain on employee retention tax credit | (63,000) | 0 |
Changes in operating assets and liabilities: | ||
Accounts receivable | 24,909 | 122,581 |
Inventories | (223,645) | 129,873 |
Prepaid expenses | (18,241) | 3,702 |
Accrued interest receivable | (773) | 4,624 |
Accounts payable | 67,351 | 49,572 |
Other accrued liabilities | 21,581 | 2,865 |
Net Cash provided (used) by Operating Activities | (44,843) | 131,972 |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Certificates of deposits purchased | (1,002,283) | (400,000) |
Certificates of deposits redeemed | 1,150,584 | 499,999 |
Purchase of equipment | 0 | (1,082) |
Net Cash provided by Investing Activities | 148,301 | 98,917 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Principal payments on CARES Act loan payable (round 1) | (7,956) | (13,638) |
Proceeds from CARES Act loan payable (rounds 1 and 2) | 0 | 130,255 |
Net Cash provided (used) by Financing Activities | (7,956) | 116,617 |
NET INCREASE IN CASH AND CASH EQUIVALENTS | 95,502 | 347,506 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 655,616 | 308,110 |
CASH AND CASH EQUIVALENTS AT END OF YEAR | 751,118 | 655,616 |
Non-cash investing and financing activities: | ||
Recognition of operating lease liability and right of use asset | $ 78,757 | $ 0 |
Organization and Summary of Sig
Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Summary of Significant Accounting Policies | 1. Organization and Summary of Significant Accounting Policies Business Organization The Company was incorporated under the laws of the State of Washington on February 10, 1984 Effective September 13, 2007, the Company announced their establishment of a “doing business as” or dba structure, based on the Company’s registered trade name of ESTeem® Wireless Modems. Basis of Presentation and Accounting Estimates The preparation of financial statements are prepared in conformity with generally accepted accounting principles in the United States which requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Estimates used in the accompanying financial statements include the allowance for doubtful accounts receivable, inventory obsolescence, useful lives of depreciable assets, share-based compensation, and deferred income taxes. Actual results could differ from those estimates. Concentrations and Credit Risks The Company places its cash with three major financial institutions. During the period, the Company had cash balances that were in excess of federally insured limits. The Company purchases certain key components necessary for the production of its products from a limited number of suppliers. The components provided by the suppliers could be replaced or substituted by other products. It is possible that if this action became necessary, an interruption of production and/or material cost expenditures could take place. Revenue Recognition The Company recognizes revenue when it has satisfied the performance obligation required under a contract with the customer. A performance obligation is a promise in a contract with a customer to transfer a distinct good or service to the customer. Our contracts with customers contain a single performance obligation. A contract’s transaction price is recognized as revenue when, or as, the performance obligation is satisfied. Performance obligations for product sales are satisfied as of a point in time. Revenue is recognized when control of the product transfers to the customer, generally upon product shipment. Performance obligations for site support and engineering services are satisfied over-time if the customer receives the benefits as we perform work and we have a contractual right to payment. Revenue recognized on an over-time basis is based on costs incurred to date relative to milestones and total estimated costs at completion to measure progress. The Company considers the contractual consideration payable by the customer when determining the transaction price of each contract. Revenue is recorded net of charges for certain sales incentives and discounts, and applicable state and local sales taxes, which represent components of the transaction price. Charges are estimated by us upon shipment of the product based on contractual terms, and actual charges typically do not vary materially from our estimates. Shipping estimates are determined by utilizing shipping costs provided by the various service providers websites based on number of packages, weight and destination. Shipping costs are included in the cost of goods sold as the revenue is captured in total sales. The Company receives payments from customers based on the terms established in our contracts. When amounts are billed and collected before the services are performed, they are included in deferred revenues. The Company does not generally sell its products with the right of return. Therefore, returns are accounted for when they occur and are accepted. Products sold to foreign customers are shipped after payment is received in U.S. funds, unless an established distributor relationship exists, or the customer is a foreign branch of a U.S. company. The Company warrants its products as free of manufacturing defects and provides a refund of the purchase price, repair or replacement of the product for a period of one year from the date of installation by the first user/customer. No allowance for estimated warranty repairs or product returns has been recorded due to the Company’s historical experience of repairs and product returns. Financial Instruments The Company’s financial instruments are cash, money market funds, and certificates of deposit. The recorded values of cash, money market funds and certificates of deposit approximate their fair values based on their short-term nature. Cash and Cash Equivalents Cash and cash equivalents are cash and money market funds purchased with original maturities of three months or less. Allowance for Uncollectible Accounts The Company uses the allowance method to account for estimated uncollectible accounts receivable. Accounts receivable are presented net of an allowance for doubtful accounts. As of December 31, 2022 and 2021, the Company’s estimate of doubtful accounts was zero. The Company’s policy for writing off past due accounts receivable is based on the time past due and responses received from the subject customer. Inventories Inventories are stated at lower of direct cost or market. Cost is determined on an average cost basis that approximates the first-in, first-out (FIFO) method. Market is determined based on net realizable value and consideration is given to obsolescence. Reclassifications Certain prior year amounts have been reclassified for consistency with the current year presentation. Reclassifications had no effect on net income), stockholders’ equity, or cash flows as previously reported. Property and Equipment Property and equipment are carried at cost. Major betterments are capitalized and de minimis purchases are expensed. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The useful life of property and equipment for purposes of computing depreciation is three to seven years. When the Company sells or otherwise disposes of property and equipment a gain or loss is recorded in the statement of operations. The cost of improvements that extend the life of property and equipment is capitalized. The Company periodically reviews its long-lived assets for impairment and, upon indication that the carrying value of such assets may not be recoverable, recognizes an impairment loss by a charge against current operations. Certificates of Deposit Certificates of deposit with original maturities ranging from one month to twelve months were $ 251,699 400,000 Software Costs Software purchased and used by the Company is capitalized as property and equipment based on its cost, and amortized over its useful life, usually not exceeding five years. The Company capitalizes the costs of creating a software product to be sold, leased or otherwise marketed, for which technological feasibility has been established. Amortization of the software product, on a product-by-product basis, begins on the date the product is available for distribution to customers and continues over the estimated revenue-producing life, not to exceed five years. Leases Contracts that meet the definition of a lease are classified as operating or financing leases and are recorded on the balance sheet as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. Variable lease expenses are recorded when incurred. Income Taxes The provision (benefit) for income taxes is computed on the pretax income (loss) based on the current tax law. Deferred income taxes are recognized for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates. The Company evaluates positive and negative information when estimating the valuation allowance for deferred tax assets. For tax positions that meet the more likely than not recognition threshold a deferred tax asset is recognized. Research and Development Research and development costs are recognized as operating expenses when incurred. Research and development expenditures for new product development and improvements of existing products by the Company for 2022 and 2021 were $ 163,189 212,397 Advertising Costs Costs incurred for producing and communicating advertising are recognized as operating expenses when incurred. Advertising costs for the years ended December 31, 2022 and 2021were $ 8,895 7,979 Earnings Per Share The Company is required to have dual presentation of basic earnings per share (“EPS”) and diluted EPS. Basic EPS is computed as net income (loss) divided by the weighted average number of common shares outstanding for the period. Diluted EPS is calculated based on the weighted average number of common shares outstanding during the period plus the effect of potentially dilutive common stock equivalents. Potentially dilutive common stock equivalents consist of 180,000 240,000 Share-Based Compensation Share-based payments to employees, including grants of employee stock options, are measured at fair value and expensed in the statement of operations over the vesting period. In addition to the recognition of expense in the financial statements, any excess tax benefits received upon exercise of options will be presented as a financing activity inflow rather than an adjustment of operating activity in the statement of cash flows. Fair Value Measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. At December 31, 2022 and 2021, the Company has no assets or liabilities subject to fair value measurements on a recurring basis. New Accounting Pronouncements Accounting standards issued by the Financial Accounting Standards Board that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. |
Inventories
Inventories | 12 Months Ended |
Dec. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Inventories | 2. Inventories Inventories consist of the following: Schedule of Inventories 2022 2021 Parts $ 172,190 $ 92,751 Work in progress 336,298 171,705 Finished goods 216,990 237,377 Total $ 725,478 $ 501,833 Included in the above amounts are reserves for obsolete inventories of $8,716 and $5,829 at December 31, 2022 and 2021, respectively. |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | 3. Property and Equipment Property and equipment consist of the following: Schedule of Property and Equipment 2022 2021 Laboratory equipment $ 522,575 $ 522,575 Software 35,028 35,028 Furniture and fixtures 16,344 16,344 Dies and molds 73,607 73,607 Property Plant and Equipment, Gross 647,554 647,554 Accumulated depreciation and amortization (646,640 ) (646,196 ) Total Property Plant and Equipment, Net $ 914 $ 1,358 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 4. Income Taxes For the years ended December 31, 2022 and 2021, the Company did not have an income tax benefit nor provision because of continuing losses. The components of net deferred tax assets are as follows: Schedule of Deferred Tax Assets and Liabilities December 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 280,300 $ 293,200 Accrued liabilities 3,500 2,900 Inventories 10,500 16,000 Other 1,200 1,400 Federal income tax credits 67,000 67,000 Total deferred tax assets 362,500 380,500 Less valuation allowance (362,500 ) (380,500 ) Total deferred tax assets, net $ — $ — Realization of the deferred tax asset is dependent on generating sufficient taxable income prior to expiration of the loss carryforwards and the income tax carryforwards. Management determined that it does not believe it is more likely than not that all of the net deferred tax assets will be realized. Therefore, a valuation allowance has been recorded for the full net deferred tax asset at December 31, 2022 and 2021. At December 31, 2022, the Company had approximately $ 67,000 1,335,000 The differences between the provision (benefit) for federal income taxes and federal income taxes computed using the U.S. statutory federal income tax rate of 21% were as follows: Schedule of provision federal income taxes 2022 2021 Amount computed using the statutory rate $ 30,800 $ 19,500 Non-deductible (taxable) items, net (12,900 ) (58,500 ) Change in estimates 200 (200 ) Change in valuation allowance 18,000 39,200 Provision (benefit) for federal income taxes $ — $ — Should the Company have future accrued interest expense and penalties related to uncertain income tax positions, they will recognize those expenses in income tax expense. The Company files federal income tax returns in the United States only. The Company is no longer subject to federal income tax examination by tax authorities for years before 2019. The Company has evaluated all tax positions for open years and has concluded that they have no material unrecognized tax benefits or penalties. |
Profit Sharing Salary Deferral
Profit Sharing Salary Deferral 401-K Plan | 12 Months Ended |
Dec. 31, 2022 | |
Retirement Benefits [Abstract] | |
Profit Sharing Salary Deferral 401-K Plan | 5. Profit Sharing Salary Deferral 401-K Plan The Company sponsors a Profit-Sharing Plan and Salary Deferral 401-K Plan and Trust. All employees over the age of twenty-one are eligible. On January 1, 2006, the Company adopted a four percent salary matching provision. The Company contributed $ 20,886 16,660 |
Employee Bonus Program
Employee Bonus Program | 12 Months Ended |
Dec. 31, 2022 | |
Employee Bonus Program | |
Employee Bonus Program | 6. Employee Bonus Program The Board of Directors establishes Sales and Net Income thresholds at the start of each year that are used in calculating the amount of bonuses that may be awarded. If these thresholds are not achieved, there will be no bonus issued. Bonus expenses of $ 17,719 0 17,719 0 |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Share-Based Compensation | 7. Share-Based Compensation The Company grants stock options to individual employees and directors. After termination of employment, stock options may be exercised within ninety days, after which they are subject to forfeiture. On September 1, 2021, the Board of Directors granted 60,000 0.40 0.40 107.69 5 95 0.77 970 In the years ended December 31, 2022 and 2021, the Company recognized $ - 970 A summary of option activity follows: Schedule of Stock Option Activity Number Weighted Weighted Balance at December 31, 2020 180,000 0.40 4.2 Granted 60,000 0.40 Balance at December 31, 2021 240,000 $ 0.40 3.6 Canceled (60,000 ) 0.40 Balance at December 31, 2022 180,000 $ 0.40 2.5 Outstanding and Exercisable at December 31, 2022 180,000 $ 0.40 2.5 The aggregate intrinsic value of the options outstanding and exercisable at December 31, 2022 was nil. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Leases | 8. Leases On September 19, 2022, the Company signed a new two-year lease for its facilities. The base lease is $ 3,373 3,478 12.84 78,757 Prior to the new lease in September 19, 2022, the Company’s lease for its facilities was for $ 3,806 As of December 31, 2022, total future lease payments are as follows: Schedule of Future Minimum Lease Payment For the 12 months ended December 31, 2023 $ 40,790 December 31, 2024 31,304 Total 72,094 Less imputed interest (2,517 ) Net lease liability 69,577 Current portion 39,120 Long-term portion $ 30,457 For the years ended December 31, 2022 and 2021, costs relating to the operating lease were recognized in the statement of operations as follows: Schedule of Cost Related to Operating Lease 2022 2021 Cost of Operating Total Cost of Operating Total Base rent pursuant to lease agreement $ 23,002 $ 18,104 $ 41,106 $ 21,587 $ 16,989 $ 38,576 Variable lease costs 2,976 2,342 5,319 2,749 2,164 4,913 Total lease costs $ 25,978 $ 20,446 $ 46,425 $ 24,336 $ 19,153 $ 43,489 |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | 9. Revenue The Company derives revenues from the sales of industrial wireless products and accessories such as antennas, power supplies and cable assemblies. The Company also provides direct site support and engineering services to customers, such as repair and upgrade of its products. The Company’s customers, to which trade credit terms are extended, consist of United States and local governments and foreign and domestic companies. Schedule of Revenue by Products For the years ending December 31, 2022 2021 Domestic Sales Foreign Sales Total Sales Domestic Sales Foreign Sales Total Sales Product Sales $ 1,668,861 $ 212,800 $ 1,881,661 $ 1,287,587 $ 170,741 $ 1,458,328 Site Support Sales 28,400 - 28,400 53,700 - 53,700 Total Sales $ 1,697,261 $ 212,800 $ 1,910,061 $ 1,341,287 $ 170,741 $ 1,512,028 For the year ended December 31, 2022 and 2021, sales to customers that are more than 10% of total revenue are as follows: Schedule of Revenue by Customers 2022 Sales 2022 % age of 2021 Sales 2021 % age of Domestic customer A $ 397,671 20.8 % $ 242,451 16.0 % Domestic customer B $ 201,459 10.5 % 160,385 10.6 % As of December 31, 2022 and 2021, accounts receivable from customers that are more than 10% of the total accounts receivable balance are as follows: Schedule of accounts receivable December 31, 2022 December 31, 2021 Accounts % age of Accounts % age of Domestic customer A $ 95,724 67.7 % $ 35,421 21.3 % Domestic customer B $ 16,037 11.3 % $ 30,587 18.4 % As of December 31, 2022 and 2021, the Company had a sales order backlog of $49,173 and $81,293, respectively. |
Cares Act Loan and Retention Cr
Cares Act Loan and Retention Credit | 12 Months Ended |
Dec. 31, 2022 | |
Debt Disclosure [Abstract] | |
Cares Act Loan and Retention Credit | 10. Cares Act Loan and Retention Credit On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (the “CARES Act”) Act was signed into United States law. In April 2020, the Company received a loan of $ 171,712 Paycheck Protection Program (the “PPP”) under Division A, Title I, Section 1102 and 1106 of the CARES Act. In June 2021, $ 150,118 of this loan was forgiven and recognized as a gain on forgiveness of CARES Act loan in 2021. A balance of $ 21,594 130,255 pursuant to the PPP. The second loan was forgiven and the Company recognized a gain on forgiveness of CARES Act loan of $ 130,255 during 2021. As at December 31, 2022, the Company has an employee retention tax credit due for $ 63,000 |
Organization and Summary of S_2
Organization and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business Organization | Business Organization The Company was incorporated under the laws of the State of Washington on February 10, 1984 Effective September 13, 2007, the Company announced their establishment of a “doing business as” or dba structure, based on the Company’s registered trade name of ESTeem® Wireless Modems. |
Basis of Presentation and Accounting Estimates | Basis of Presentation and Accounting Estimates The preparation of financial statements are prepared in conformity with generally accepted accounting principles in the United States which requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Estimates used in the accompanying financial statements include the allowance for doubtful accounts receivable, inventory obsolescence, useful lives of depreciable assets, share-based compensation, and deferred income taxes. Actual results could differ from those estimates. |
Concentrations and Credit Risks | Concentrations and Credit Risks The Company places its cash with three major financial institutions. During the period, the Company had cash balances that were in excess of federally insured limits. The Company purchases certain key components necessary for the production of its products from a limited number of suppliers. The components provided by the suppliers could be replaced or substituted by other products. It is possible that if this action became necessary, an interruption of production and/or material cost expenditures could take place. |
Revenue Recognition | Revenue Recognition The Company recognizes revenue when it has satisfied the performance obligation required under a contract with the customer. A performance obligation is a promise in a contract with a customer to transfer a distinct good or service to the customer. Our contracts with customers contain a single performance obligation. A contract’s transaction price is recognized as revenue when, or as, the performance obligation is satisfied. Performance obligations for product sales are satisfied as of a point in time. Revenue is recognized when control of the product transfers to the customer, generally upon product shipment. Performance obligations for site support and engineering services are satisfied over-time if the customer receives the benefits as we perform work and we have a contractual right to payment. Revenue recognized on an over-time basis is based on costs incurred to date relative to milestones and total estimated costs at completion to measure progress. The Company considers the contractual consideration payable by the customer when determining the transaction price of each contract. Revenue is recorded net of charges for certain sales incentives and discounts, and applicable state and local sales taxes, which represent components of the transaction price. Charges are estimated by us upon shipment of the product based on contractual terms, and actual charges typically do not vary materially from our estimates. Shipping estimates are determined by utilizing shipping costs provided by the various service providers websites based on number of packages, weight and destination. Shipping costs are included in the cost of goods sold as the revenue is captured in total sales. The Company receives payments from customers based on the terms established in our contracts. When amounts are billed and collected before the services are performed, they are included in deferred revenues. The Company does not generally sell its products with the right of return. Therefore, returns are accounted for when they occur and are accepted. Products sold to foreign customers are shipped after payment is received in U.S. funds, unless an established distributor relationship exists, or the customer is a foreign branch of a U.S. company. The Company warrants its products as free of manufacturing defects and provides a refund of the purchase price, repair or replacement of the product for a period of one year from the date of installation by the first user/customer. No allowance for estimated warranty repairs or product returns has been recorded due to the Company’s historical experience of repairs and product returns. |
Financial Instruments | Financial Instruments The Company’s financial instruments are cash, money market funds, and certificates of deposit. The recorded values of cash, money market funds and certificates of deposit approximate their fair values based on their short-term nature. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents are cash and money market funds purchased with original maturities of three months or less. |
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts The Company uses the allowance method to account for estimated uncollectible accounts receivable. Accounts receivable are presented net of an allowance for doubtful accounts. As of December 31, 2022 and 2021, the Company’s estimate of doubtful accounts was zero. The Company’s policy for writing off past due accounts receivable is based on the time past due and responses received from the subject customer. |
Inventories | Inventories Inventories are stated at lower of direct cost or market. Cost is determined on an average cost basis that approximates the first-in, first-out (FIFO) method. Market is determined based on net realizable value and consideration is given to obsolescence. |
Reclassifications | Reclassifications Certain prior year amounts have been reclassified for consistency with the current year presentation. Reclassifications had no effect on net income), stockholders’ equity, or cash flows as previously reported. |
Property and Equipment | Property and Equipment Property and equipment are carried at cost. Major betterments are capitalized and de minimis purchases are expensed. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The useful life of property and equipment for purposes of computing depreciation is three to seven years. When the Company sells or otherwise disposes of property and equipment a gain or loss is recorded in the statement of operations. The cost of improvements that extend the life of property and equipment is capitalized. The Company periodically reviews its long-lived assets for impairment and, upon indication that the carrying value of such assets may not be recoverable, recognizes an impairment loss by a charge against current operations. |
Certificates of Deposit | Certificates of Deposit Certificates of deposit with original maturities ranging from one month to twelve months were $ 251,699 400,000 |
Software Costs | Software Costs Software purchased and used by the Company is capitalized as property and equipment based on its cost, and amortized over its useful life, usually not exceeding five years. The Company capitalizes the costs of creating a software product to be sold, leased or otherwise marketed, for which technological feasibility has been established. Amortization of the software product, on a product-by-product basis, begins on the date the product is available for distribution to customers and continues over the estimated revenue-producing life, not to exceed five years. |
Leases | Leases Contracts that meet the definition of a lease are classified as operating or financing leases and are recorded on the balance sheet as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. Variable lease expenses are recorded when incurred. |
Income Taxes | Income Taxes The provision (benefit) for income taxes is computed on the pretax income (loss) based on the current tax law. Deferred income taxes are recognized for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates. The Company evaluates positive and negative information when estimating the valuation allowance for deferred tax assets. For tax positions that meet the more likely than not recognition threshold a deferred tax asset is recognized. |
Research and Development | Research and Development Research and development costs are recognized as operating expenses when incurred. Research and development expenditures for new product development and improvements of existing products by the Company for 2022 and 2021 were $ 163,189 212,397 |
Advertising Costs | Advertising Costs Costs incurred for producing and communicating advertising are recognized as operating expenses when incurred. Advertising costs for the years ended December 31, 2022 and 2021were $ 8,895 7,979 |
Earnings Per Share | Earnings Per Share The Company is required to have dual presentation of basic earnings per share (“EPS”) and diluted EPS. Basic EPS is computed as net income (loss) divided by the weighted average number of common shares outstanding for the period. Diluted EPS is calculated based on the weighted average number of common shares outstanding during the period plus the effect of potentially dilutive common stock equivalents. Potentially dilutive common stock equivalents consist of 180,000 240,000 |
Share-Based Compensation | Share-Based Compensation Share-based payments to employees, including grants of employee stock options, are measured at fair value and expensed in the statement of operations over the vesting period. In addition to the recognition of expense in the financial statements, any excess tax benefits received upon exercise of options will be presented as a financing activity inflow rather than an adjustment of operating activity in the statement of cash flows. |
Fair Value Measurements | Fair Value Measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. At December 31, 2022 and 2021, the Company has no assets or liabilities subject to fair value measurements on a recurring basis. |
New Accounting Pronouncements | New Accounting Pronouncements Accounting standards issued by the Financial Accounting Standards Board that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. |
Inventories (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Inventory Disclosure [Abstract] | |
Schedule of Inventories | Schedule of Inventories 2022 2021 Parts $ 172,190 $ 92,751 Work in progress 336,298 171,705 Finished goods 216,990 237,377 Total $ 725,478 $ 501,833 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Property, Plant and Equipment [Abstract] | |
Schedule of Property and Equipment | Schedule of Property and Equipment 2022 2021 Laboratory equipment $ 522,575 $ 522,575 Software 35,028 35,028 Furniture and fixtures 16,344 16,344 Dies and molds 73,607 73,607 Property Plant and Equipment, Gross 647,554 647,554 Accumulated depreciation and amortization (646,640 ) (646,196 ) Total Property Plant and Equipment, Net $ 914 $ 1,358 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | |
Schedule of Deferred Tax Assets and Liabilities | Schedule of Deferred Tax Assets and Liabilities December 31, 2022 2021 Deferred tax assets: Net operating loss carryforwards $ 280,300 $ 293,200 Accrued liabilities 3,500 2,900 Inventories 10,500 16,000 Other 1,200 1,400 Federal income tax credits 67,000 67,000 Total deferred tax assets 362,500 380,500 Less valuation allowance (362,500 ) (380,500 ) Total deferred tax assets, net $ — $ — |
Schedule of provision federal income taxes | Schedule of provision federal income taxes 2022 2021 Amount computed using the statutory rate $ 30,800 $ 19,500 Non-deductible (taxable) items, net (12,900 ) (58,500 ) Change in estimates 200 (200 ) Change in valuation allowance 18,000 39,200 Provision (benefit) for federal income taxes $ — $ — |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of Stock Option Activity | Schedule of Stock Option Activity Number Weighted Weighted Balance at December 31, 2020 180,000 0.40 4.2 Granted 60,000 0.40 Balance at December 31, 2021 240,000 $ 0.40 3.6 Canceled (60,000 ) 0.40 Balance at December 31, 2022 180,000 $ 0.40 2.5 Outstanding and Exercisable at December 31, 2022 180,000 $ 0.40 2.5 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Leases [Abstract] | |
Schedule of Future Minimum Lease Payment | Schedule of Future Minimum Lease Payment For the 12 months ended December 31, 2023 $ 40,790 December 31, 2024 31,304 Total 72,094 Less imputed interest (2,517 ) Net lease liability 69,577 Current portion 39,120 Long-term portion $ 30,457 |
Schedule of Cost Related to Operating Lease | Schedule of Cost Related to Operating Lease 2022 2021 Cost of Operating Total Cost of Operating Total Base rent pursuant to lease agreement $ 23,002 $ 18,104 $ 41,106 $ 21,587 $ 16,989 $ 38,576 Variable lease costs 2,976 2,342 5,319 2,749 2,164 4,913 Total lease costs $ 25,978 $ 20,446 $ 46,425 $ 24,336 $ 19,153 $ 43,489 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of Revenue by Products | Schedule of Revenue by Products For the years ending December 31, 2022 2021 Domestic Sales Foreign Sales Total Sales Domestic Sales Foreign Sales Total Sales Product Sales $ 1,668,861 $ 212,800 $ 1,881,661 $ 1,287,587 $ 170,741 $ 1,458,328 Site Support Sales 28,400 - 28,400 53,700 - 53,700 Total Sales $ 1,697,261 $ 212,800 $ 1,910,061 $ 1,341,287 $ 170,741 $ 1,512,028 |
Schedule of Revenue by Customers | Schedule of Revenue by Customers 2022 Sales 2022 % age of 2021 Sales 2021 % age of Domestic customer A $ 397,671 20.8 % $ 242,451 16.0 % Domestic customer B $ 201,459 10.5 % 160,385 10.6 % |
Schedule of accounts receivable | Schedule of accounts receivable December 31, 2022 December 31, 2021 Accounts % age of Accounts % age of Domestic customer A $ 95,724 67.7 % $ 35,421 21.3 % Domestic customer B $ 16,037 11.3 % $ 30,587 18.4 % |
Organization and Summary of S_3
Organization and Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Entity Incorporation, Date of Incorporation | Feb. 10, 1984 | |
Certificates of Deposit, at Carrying Value | $ 251,699 | $ 400,000 |
Research and development expenditures | 163,189 | 212,397 |
Advertising costs | $ 8,895 | $ 7,979 |
Anti-dilutive | 180,000 | 240,000 |
Inventories (Details)
Inventories (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Inventory Disclosure [Abstract] | ||
Parts | $ 172,190 | $ 92,751 |
Work in progress | 336,298 | 171,705 |
Finished goods | 216,990 | 237,377 |
Total | $ 725,478 | $ 501,833 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Property, Plant and Equipment [Abstract] | ||
Laboratory equipment | $ 522,575 | $ 522,575 |
Software | 35,028 | 35,028 |
Furniture and fixtures | 16,344 | 16,344 |
Dies and molds | 73,607 | 73,607 |
Property Plant and Equipment, Gross | 647,554 | 647,554 |
Accumulated depreciation and amortization | (646,640) | (646,196) |
Total Property Plant and Equipment, Net | $ 914 | $ 1,358 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Income Tax Disclosure [Abstract] | ||
Net operating loss carryforwards | $ 280,300 | $ 293,200 |
Accrued liabilities | 3,500 | 2,900 |
Inventories | 10,500 | 16,000 |
Other | 1,200 | 1,400 |
Federal income tax credits | 67,000 | 67,000 |
Total deferred tax assets | 362,500 | 380,500 |
Less valuation allowance | (362,500) | (380,500) |
Total deferred tax assets, net | $ 0 | $ 0 |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Income Tax Disclosure [Abstract] | ||
Amount computed using the statutory rate | $ 30,800 | $ 19,500 |
Non-deductible (taxable) items, net | (12,900) | (58,500) |
Change in estimates | 200 | (200) |
Change in valuation allowance | (18,000) | (39,200) |
Provision (benefit) for federal income taxes | $ 0 | $ 0 |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) | Dec. 31, 2022 USD ($) |
Income Tax Disclosure [Abstract] | |
Research and development income tax | $ 67,000 |
Operating Loss Carryforwards | $ 1,335,000 |
Profit Sharing Salary Deferra_2
Profit Sharing Salary Deferral 401-K Plan (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Retirement Benefits [Abstract] | ||
Profit-sharing plan and salary | $ 20,886 | $ 16,660 |
Employee Bonus Program (Details
Employee Bonus Program (Details Narrative) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Employee Bonus Program | ||
Bonus expenses | $ 17,719 | $ 0 |
Accrued wages | $ 17,719 | $ 0 |
Share-Based Compensation (Detai
Share-Based Compensation (Details) - Equity Option [Member] - $ / shares | 12 Months Ended | |||
Sep. 01, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 | |
Offsetting Assets [Line Items] | ||||
Outstanding, Beginning balance | 240,000 | 180,000 | ||
Weighted average exercise price per option, Beginning balance | $ 0.40 | $ 0.40 | ||
Weighted average remaining contractual term (years) | 2 years 6 months | 3 years 7 months 6 days | 4 years 2 months 12 days | |
Outstanding, Granted | 60,000 | 60,000 | ||
Weighted average exercise price per option, Granted | $ 0.40 | $ 0.40 | ||
Outstanding, Canceled | (60,000) | |||
Weighted average exercise price per option, Canceled | $ 0.40 | |||
Outstanding, Ending balance | 180,000 | 240,000 | 180,000 | |
Weighted average exercise price per option, Ending balance | $ 0.40 | $ 0.40 | $ 0.40 | |
Outstanding and Exercisable | 180,000 | |||
Weighted average exercise price per option, Outstanding and exercisable | $ 0.40 | |||
Weighted average remaining contractual term (years), Outstanding and exercisable | 2 years 6 months |
Share-Based Compensation (Det_2
Share-Based Compensation (Details Narrative) - USD ($) | 12 Months Ended | ||
Sep. 01, 2021 | Dec. 31, 2022 | Dec. 31, 2021 | |
Offsetting Assets [Line Items] | |||
Stock price | $ 0.40 | ||
Volatility | 107.69% | ||
Expected term | 5 years | ||
Forfeiture rate | 95% | ||
Discount factor | 0.77% | ||
Share based compensation | $ 0 | $ 970 | |
Equity Option [Member] | |||
Offsetting Assets [Line Items] | |||
Granted | 60,000 | 60,000 | |
Exercise price | $ 0.40 | $ 0.40 |
Leases (Details)
Leases (Details) - USD ($) | Dec. 31, 2022 | Dec. 31, 2021 |
Leases [Abstract] | ||
December 31, 2023 | $ 40,790 | |
December 31, 2024 | 31,304 | |
Total | 72,094 | |
Less imputed interest | (2,517) | |
Net lease liability | 69,577 | |
Current portion | 39,120 | $ 28,438 |
Long-term portion | $ 30,457 | $ 0 |
Leases (Details 2)
Leases (Details 2) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Base rent pursuant to lease agreement | $ 41,106 | $ 38,576 |
Variable lease costs | 5,319 | 4,913 |
Total lease costs | 46,425 | 43,489 |
Cost of Sales [Member] | ||
Base rent pursuant to lease agreement | 23,002 | 21,587 |
Variable lease costs | 2,976 | 2,749 |
Total lease costs | 25,978 | 24,336 |
Operating Expense [Member] | ||
Base rent pursuant to lease agreement | 18,104 | 16,989 |
Variable lease costs | 2,342 | 2,164 |
Total lease costs | $ 20,446 | $ 19,153 |
Leases (Details Narrative)
Leases (Details Narrative) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 19, 2022 | Dec. 31, 2022 | Dec. 31, 2021 | |
Operating Lease, Cost | $ 41,106 | $ 38,576 | |
Leasehold tax percentage | 12.84% | ||
Leasehold tax | $ 78,757 | ||
Operating lease expense | $ 3,806 | ||
Monthly Rate Year One [Member] | |||
Operating Lease, Cost | 3,373 | ||
Monthly Rate Year Two [Member] | |||
Operating Lease, Cost | $ 3,478 |
Revenue (Details)
Revenue (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Disaggregation of Revenue [Line Items] | ||
Total Sales | $ 1,910,061 | $ 1,512,028 |
Product [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 1,881,661 | 1,458,328 |
Maintenance [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 28,400 | 53,700 |
Geographic Distribution, Domestic [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 1,697,261 | 1,341,287 |
Geographic Distribution, Domestic [Member] | Product [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 1,668,861 | 1,287,587 |
Geographic Distribution, Domestic [Member] | Maintenance [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 28,400 | 53,700 |
Geographic Distribution, Foreign [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 212,800 | 170,741 |
Geographic Distribution, Foreign [Member] | Product [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 212,800 | 170,741 |
Geographic Distribution, Foreign [Member] | Maintenance [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | $ 0 | $ 0 |
Revenue (Details 1)
Revenue (Details 1) - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Product Information [Line Items] | ||
Revenues | $ 1,910,061 | $ 1,512,028 |
Geographic Distribution, Domestic [Member] | ||
Product Information [Line Items] | ||
Revenues | 1,697,261 | 1,341,287 |
Customer A [Member] | Geographic Distribution, Domestic [Member] | ||
Product Information [Line Items] | ||
Revenues | $ 397,671 | $ 242,451 |
Concentration Risk, Percentage | 20.80% | 16% |
Customer B [Member] | Geographic Distribution, Domestic [Member] | ||
Product Information [Line Items] | ||
Revenues | $ 201,459 | $ 160,385 |
Concentration Risk, Percentage | 10.50% | 10.60% |
Revenue (Details 2)
Revenue (Details 2) - Geographic Distribution, Domestic [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2022 | Dec. 31, 2021 | |
Customer A [Member] | ||
Product Information [Line Items] | ||
Concentration Risk, Percentage | 20.80% | 16% |
Customer A [Member] | Accounts Receivable [Member] | ||
Product Information [Line Items] | ||
Account receivable | $ 95,724 | $ 35,421 |
Concentration Risk, Percentage | 67.70% | 21.30% |
Customer B [Member] | ||
Product Information [Line Items] | ||
Concentration Risk, Percentage | 10.50% | 10.60% |
Customer B [Member] | Accounts Receivable [Member] | ||
Product Information [Line Items] | ||
Account receivable | $ 16,037 | $ 30,587 |
Concentration Risk, Percentage | 11.30% | 18.40% |
Cares Act Loan and Retention _2
Cares Act Loan and Retention Credit (Details Narrative) - USD ($) | 1 Months Ended | 12 Months Ended | |||
Jun. 30, 2021 | Feb. 28, 2021 | Apr. 30, 2020 | Dec. 31, 2022 | Dec. 31, 2021 | |
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Proceeds from Bank Debt | $ 0 | $ 130,255 | |||
Gain (Loss) on Extinguishment of Debt | 0 | 280,373 | |||
Employee retention tax credit | 63,000 | ||||
Paycheck Protection Program | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Proceeds from Bank Debt | $ 171,712 | ||||
Gain (Loss) on Extinguishment of Debt | $ 150,118 | ||||
Short-term Debt | $ 21,594 | ||||
Entity Loan Modification Program 1 [Member] | |||||
Financing Receivable, Troubled Debt Restructuring [Line Items] | |||||
Proceeds from Bank Debt | $ 130,255 | ||||
Gain (Loss) on Extinguishment of Debt | $ 130,255 |