Summary of Significant Accounting Policies (Tables)
|
12 Months Ended |
Dec. 31, 2017 |
|---|
| Accounting Policies [Abstract] |
|
| Schedule of Available for Sale Securities |
The following table sets forth the available-for-sale
securities, which were fully liquidated during the year ended December 31, 2017.
| |
|
As of |
|
| |
|
December 31, 2017 |
|
|
December 31, 2016 |
|
| U.S. government securities |
|
$ |
- |
|
|
$ |
195,374 |
|
| Fixed income mutual funds |
|
|
- |
|
|
|
2,194,147 |
|
| |
|
$ |
- |
|
|
$ |
2,389,521 |
|
|
| Schedule of Unrealized Losses On Investments |
| |
|
As of December 31, 2016 |
|
| |
|
Amortized |
|
|
Unrealized |
|
|
|
|
| |
|
Cost |
|
|
Losses |
|
|
Fair Value |
|
| U. S. government securities |
|
$ |
195,570 |
|
|
$ |
(196 |
) |
|
$ |
195,374 |
|
| Fixed income mutual funds |
|
|
2,224,197 |
|
|
|
(30,050 |
) |
|
|
2,194,147 |
|
| Total |
|
$ |
2,419,767 |
|
|
$ |
(30,246 |
) |
|
$ |
2,389,521 |
|
|
| Schedule of US Government Securities by Maturity |
The following table classifies the US government securities by maturity:
| |
|
As of |
|
| |
|
December 31, 2017 |
|
|
December 31, 2016 |
|
| Within one year |
|
$ |
- |
|
|
$ |
94,967 |
|
| Within one to five years |
|
|
- |
|
|
|
100,407 |
|
| |
|
$ |
- |
|
|
$ |
195,374 |
|
|
| Schedule of Accounts Receivable |
Accounts receivable, net, is as follows:
| |
|
As of |
|
| |
|
December 31, 2017 |
|
|
December 31, 2016 |
|
| Accounts receivable, gross |
|
$ |
1,286,786 |
|
|
$ |
1,859,474 |
|
| Allowance for doubtful accounts |
|
|
(611,353 |
) |
|
|
(232,416 |
) |
| Accounts receivable, net |
|
$ |
675,433 |
|
|
$ |
1,627,058 |
|
|
| Schedule of Inventories |
The following table summarizes inventories
as of the dates presented:
| |
|
As of |
|
| |
|
December 31, 2017 |
|
|
December 31, 2016 |
|
| Finished goods |
|
$ |
934,087 |
|
|
$ |
905,642 |
|
| Raw materials and supplies |
|
|
664,528 |
|
|
|
282,299 |
|
| Total inventories |
|
$ |
1,598,615 |
|
|
$ |
1,187,941 |
|
|
| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
The computation of diluted earnings per share
excludes outstanding options, warrants and other dilutive instruments in periods where the inclusion of such instruments would
be antidilutive, as provided below:
| |
|
As of December 31, |
|
| |
|
2017 |
|
|
2016 |
|
| Options to purchase common stock |
|
|
550,534 |
|
|
|
425,411 |
|
| Warrants to purchase common stock |
|
|
1,534,320 |
|
|
|
470,570 |
|
| Total potentially dilutive securities |
|
|
2,084,854 |
|
|
|
895,981 |
|
|
| Schedule of Fair Value of Financial Assets and Liabilities |
The carrying value of financial instruments
in the Company’s consolidated financial statements are as follows:
| |
|
Quoted Prices in
Active Markets for
Identical Assets or
Liabilities
(Level 1) |
|
|
Quoted Prices for
Similar Assets or
Liabilities in
Active Markets
(Level 2) |
|
|
Significant
Unobservable
Inputs
(Level 3) |
|
| Short-term investments at December 31, 2017 |
|
$ |
- |
|
|
$ |
- |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Short-term investments at December 31, 2016 |
|
$ |
2,389,521 |
|
|
$ |
- |
|
|
$ |
- |
|
|