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.
Schedule of Disaggregation of Revenue
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
Schedule of 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 |
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.
Schedule of Customer Concentration Risk Percentage
|
|
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:
Schedule of Computation of Loss Per Share
|
|
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 |
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 |
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:
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis
|
|
|
|
|
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 |
|
|
$ |
- |
|
|
$ |
- |
|
|