Pressure BioSciences, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

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

Schedule of Disaggregation of Revenue

Primary geographical markets	2022			2021		2022		2021
In thousands of US dollars ($)	Three Months Ended September 30,					Nine Months Ended September 30,
Primary geographical markets	2022			2021		2022		2021
North America	$	138		$	351	$	709	$	1,036
Europe		13			57		61		244
Asia		(7	)		110		352		407
	$	144		$	518	$	1,122	$	1,687

Major products/services lines	2022		2021		2022		2021
In thousands of US dollars ($)	Three Months Ended September 30,				Nine Months Ended September 30,
Major products/services lines	2022		2021		2022		2021
Hardware	$	1	$	276	$	532	$	989
Consumables		49		45		165		191
Contract research services		-		100		125		242
Sample preparation accessories		41		39		93		108
Technical support/extended service contracts		41		26		94		84
Agrochem Products		10		17		93		17
Shipping and handling		2		11		20		46
Other		-		4		-		10
Revenue	$	144	$	518	$	1,122	$	1,687

1	2022		2021		2022		2021
In thousands of US dollars ($)	Three Months Ended September 30,				Nine Months Ended September 30,
Timing of revenue recognition	2022		2021		2022		2021
Products transferred at a point in time	$	103	$	392	$	903	$	1,361
Services transferred over time		41		126		219		326
Revenue	$	144	$	518	$	1,122	$	1,687

Schedule of Contract Balances

Contract balances

Schedule of Contract Balances

	1		2
In thousands of US dollars ($)	September 30, 2022		December 31, 2021
Receivables, which are included in ‘Accounts Receivable’	$	166	$	155
Contract liabilities (deferred revenue)		127		41

Schedule of Future Related to Performance Obligations

In thousands of US dollars ($)		2022				2023				Total
Extended warranty service		$	32			$	95			$	127

Schedule of Customer Concentration Risk Percentage

The following table illustrates the level of concentration as a percentage of total revenues during the three and nine months ended September 30, 2022 and 2021.

	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Top Five Customers		42	%		56	%		31	%		42	%
Federal Agencies		4	%		3	%		1	%		6	%

The following table illustrates the level of concentration as a percentage of net accounts receivable balance as of September 30, 2022 and December 31, 2021. The Top Five Customers category may include federal agency receivable balances if applicable.

	September 30, 2022			December 31, 2021
Top Five Customers		84	%		82	%
Federal Agencies		0	%		5	%

Schedule of Computation of Loss Per Share

The following table illustrates our computation of loss per share for the three and nine months ended September 30, 2022 and 2021:

	2022			2021			2022			2021
	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2022			2021			2022			2021
Numerator:
Net loss attributable to common stockholders	$	(4,893,946	)	$	(6,199,176	)	$	(12,913,826	)	$	(18,387,204	)

Denominator for basic and diluted loss per share:
Weighted average common stock shares outstanding		11,131,742			7,561,728			10,429,817			6,083,017

Loss per common share – basic and diluted	$	(0.44	)	$	(0.82	)	$	(1.24	)	$	(3.02	)

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

	2022		2021
	As of September 30,
	2022		2021
Stock options		1,307,822		1,342,490
Convertible debt		6,471,034		5,330,318
Common stock warrants		16,293,768		16,265,570
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		8,645,000		8,649,000
Total potentially dilutive shares		33,217,416		32,087,170

Schedule of Stock Based Compensation Expense

	2022		2021		2022		2021
	For the Three Months Ended				For the Nine Months Ended
	September 30,				September 30,
	2022		2021		2022		2021
Cost of sales	$	2,184	$	8,664	$	8,694	$	18,824
Research and development		9,499		43,031		37,803		95,384
Selling and marketing		4,583		7,168		18,166		17,650
General and administrative		16,161		36,385		64,321		88,085
Total stock-based compensation expense	$	32,427	$	95,248	$	128,984	$	219,943

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 September 30, 2022:

			Fair value measurements at September 30, 2022 using:
	September 30, 2022		Quoted prices in active markets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Equity Securities	$	51,929	$	51,929		-		-
Total Financial Assets	$	51,929	$	51,929	$	-	$	-

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	$	-	$	-

- Definition

Tabular disclosure of all significant concentrations of risk, including credit risk and market risk, arising from all financial instruments (as defined), whether from an individual counterparty or groups of counterparties. The disclosure concerning concentrations of risk may consist of the following information: (1) for concentrations of credit risk disclosure may include: (a) information about the (shared) activity, region, or economic characteristic that identifies the concentration, (b) the maximum amount of loss due to credit risk that, based on the gross fair value of the financial instrument, the entity would incur if parties to the financial instruments that make up the concentration failed completely to perform according to the terms of the contracts and the collateral or other security, if any, for the amount due proved to be of no value to the entity, (c) the policy of requiring collateral or other security to support financial instruments subject to credit risk, information about the entity's access to that collateral or other security, and the nature and a brief description of the collateral or other security supporting those financial instruments, and (d) the policy of entering into master netting arrangements to mitigate the credit risk of financial instruments, information about the arrangements for which the entity is a party, and a brief description of the terms of those arrangements, including the extent to which they would reduce the entity's maximum amount of loss due to credit risk and (2) for disclosure of quantitative information about the market risks of financial instruments that is consistent with the way the company manages or adjusts those risks, disclosure may include: (a) more details about current positions and perhaps activity during the period, (b) the hypothetical effects on comprehensive income (or net assets), or annual income, of several possible changes in market prices, (c) a gap analysis of interest rate re-pricing or maturity dates, (d) the duration of the financial instruments, (e) the entity's value at risk from derivatives and from other positions at the end of the reporting period and the average value at risk during the year, or (f) other ways of reporting quantitative information as internally developed.

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