Document And Entity Information
Document And Entity Information - shares | 6 Months Ended | |
Jun. 30, 2021 | Aug. 13, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001019034 | |
Entity Registrant Name | BIO KEY INTERNATIONAL INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 1-13463 | |
Entity Incorporation, State or Country Code | DE | |
Entity Tax Identification Number | 41-1741861 | |
Entity Address, Address Line One | 3349 HIGHWAY 138, BUILDING A, SUITE E | |
Entity Address, City or Town | WALL | |
Entity Address, State or Province | NJ | |
Entity Address, Postal Zip Code | 07719 | |
City Area Code | 732 | |
Local Phone Number | 359-1100 | |
Title of 12(b) Security | Common Stock, par value $0.0001 per share | |
Trading Symbol | BKYI | |
Security Exchange Name | NASDAQ | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 7,824,971 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
ASSETS | ||
Cash and cash equivalents | $ 11,479,691 | $ 16,993,096 |
Accounts receivable, net | 1,347,677 | 548,049 |
Due from factor | 49,500 | 60,453 |
Financing Receivable, after Allowance for Credit Loss, Current, Total | 0 | 295,000 |
Inventory | 2,290,628 | 330,947 |
Prepaid expenses and other | 1,612,099 | 201,507 |
Investment – debt security | 512,821 | 512,821 |
Total current assets | 17,292,416 | 18,941,873 |
Resalable software license rights | 53,873 | 58,882 |
Equipment and leasehold improvements, net | 60,259 | 81,793 |
Capitalized contract costs, net | 192,509 | 165,315 |
Deposits and other assets | 8,712 | 8,712 |
Note receivable | 295,000 | 0 |
Operating lease right-of-use assets | 372,303 | 487,325 |
Intangible assets, net | 1,406,112 | 1,514,146 |
Goodwill | 1,262,526 | 1,262,526 |
Total non-current assets | 3,651,294 | 3,578,699 |
TOTAL ASSETS | 20,943,710 | 22,520,572 |
LIABILITIES | ||
Accounts payable | 864,847 | 244,158 |
Accrued liabilities | 575,214 | 508,487 |
Note payable – PistolStar acquisition, net of debt discount | 0 | 232,000 |
Deferred revenue, current portion | 549,792 | 657,349 |
Operating lease liabilities, current portion | 221,399 | 234,309 |
Total current liabilities | 2,211,252 | 1,876,303 |
Deferred revenue, net of current portion | 71,037 | 44,987 |
Operating lease liabilities, net of current portion | 162,373 | 264,163 |
Total non-current liabilities | 233,410 | 309,150 |
TOTAL LIABILITIES | 2,444,662 | 2,185,453 |
Commitments and Contingencies | ||
STOCKHOLDERS’ EQUITY | ||
Common stock — authorized, 170,000,000 shares; issued and outstanding; 7,819,661 and 7,814,572 of $.0001 par value at June 30, 2021 and December 31, 2020, respectively | 782 | 782 |
Additional paid-in capital | 120,021,069 | 119,844,026 |
Accumulated deficit | (101,522,803) | (99,509,689) |
TOTAL STOCKHOLDERS’ EQUITY | 18,499,048 | 20,335,119 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 20,943,710 | $ 22,520,572 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Jun. 30, 2021 | Dec. 31, 2020 |
Common stock, shares authorized (in shares) | 170,000,000 | 170,000,000 |
Common stock, shares issued (in shares) | 7,819,661 | 7,814,572 |
Common stock, shares outstanding (in shares) | 7,819,661 | 7,814,572 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Revenues | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 992,090 | $ 307,142 | $ 2,880,728 | $ 829,627 |
Costs and other expenses | ||||
Costs and other expenses | 239,569 | 148,454 | 1,006,204 | 272,717 |
Gross profit | 752,521 | 158,688 | 1,874,524 | 556,910 |
Operating Expenses | ||||
Selling, general and administrative | 1,374,084 | 1,211,928 | 2,890,482 | 2,593,327 |
Research, development and engineering | 490,952 | 318,573 | 932,603 | 655,462 |
Total Operating Expenses | 1,865,036 | 1,530,501 | 3,823,085 | 3,248,789 |
Operating loss | (1,112,515) | (1,371,813) | (1,948,561) | (2,691,879) |
Other income (expense) | ||||
Interest income | 832 | 25,801 | 3,447 | 25,802 |
Government grant – Paycheck Protection Program | 0 | 340,819 | 0 | 340,819 |
Loss on foreign currency transactions | (50,000) | 0 | (50,000) | 0 |
Interest expense | 0 | (567,516) | (18,000) | (2,118,657) |
Loss on extinguishment of debt | 0 | 0 | 0 | (499,076) |
Total other income (expense), net | (49,168) | (200,896) | (64,553) | (2,251,112) |
Net loss | (1,161,683) | (1,572,709) | (2,013,114) | (4,942,991) |
Deemed dividends related to down-round features | 0 | 0 | 0 | (112,686) |
Net loss available to common stockholders | $ (1,161,683) | $ (1,572,709) | $ (2,013,114) | $ (5,055,677) |
Basic and diluted loss per common share (in dollars per share) | $ (0.15) | $ (0.60) | $ (0.26) | $ (2.24) |
Basic and diluted (in shares) | 7,776,190 | 2,608,108 | 7,774,946 | 2,253,867 |
Service [Member] | ||||
Revenues | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 286,641 | $ 229,503 | $ 666,663 | $ 437,026 |
Costs and other expenses | ||||
Costs and other expenses | 158,440 | 92,672 | 334,384 | 163,117 |
License [Member] | ||||
Revenues | ||||
Revenue from Contract with Customer, Including Assessed Tax | 662,193 | 23,542 | 1,141,151 | 258,887 |
Costs and other expenses | ||||
Costs and other expenses | 48,373 | 8,255 | 87,342 | 18,711 |
Hardware [Member] | ||||
Revenues | ||||
Revenue from Contract with Customer, Including Assessed Tax | 43,256 | 54,097 | 1,072,914 | 133,714 |
Costs and other expenses | ||||
Costs and other expenses | $ 32,756 | $ 47,527 | $ 584,478 | $ 90,889 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Warrants Issued in Connection with Convertible Notes [Member]Common Stock [Member] | Warrants Issued in Connection with Convertible Notes [Member]Additional Paid-in Capital [Member] | Warrants Issued in Connection with Convertible Notes [Member]Retained Earnings [Member] | Warrants Issued in Connection with Convertible Notes [Member] | Warrants Issued for Consulting Fees [Member]Common Stock [Member] | Warrants Issued for Consulting Fees [Member]Additional Paid-in Capital [Member] | Warrants Issued for Consulting Fees [Member]Retained Earnings [Member] | Warrants Issued for Consulting Fees [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2019 | 1,812,483 | |||||||||||
Balance at Dec. 31, 2019 | $ 182 | $ 87,437,661 | $ (89,723,016) | $ (2,285,173) | ||||||||
Share-based compensation | 0 | 512,719 | 0 | 512,719 | ||||||||
Net loss | $ 0 | 0 | (3,370,282) | (3,370,282) | ||||||||
Issuance of common stock pursuant to securities purchase agreements (in shares) | 87,500 | |||||||||||
Issuance of common stock pursuant to securities purchase agreements | $ 8 | 1,032,492 | 0 | 1,032,500 | ||||||||
Commitment fee adjustment | 0 | (900,000) | 0 | (900,000) | ||||||||
Beneficial conversion feature | $ 0 | 641,215 | 0 | 641,215 | ||||||||
Issuance of common stock pursuant to warrant conversion (in shares) | 121,500 | |||||||||||
Issuance of common stock pursuant to warrant conversion | $ 12 | 1,457,988 | 0 | 1,458,000 | ||||||||
Conversion of convertible note payable (in shares) | 288,461 | |||||||||||
Conversion of convertible note payable | $ 29 | 1,499,971 | 0 | 1,500,000 | ||||||||
Deemed dividends related to down-round features | $ 0 | 112,686 | (112,686) | 0 | ||||||||
Balance (in shares) at Mar. 31, 2020 | 2,309,944 | |||||||||||
Balance at Mar. 31, 2020 | $ 231 | 91,794,732 | (93,205,984) | (1,411,021) | ||||||||
Balance (in shares) at Dec. 31, 2019 | 1,812,483 | |||||||||||
Balance at Dec. 31, 2019 | $ 182 | 87,437,661 | (89,723,016) | (2,285,173) | ||||||||
Net loss | (4,942,991) | |||||||||||
Balance (in shares) at Jun. 30, 2020 | 2,783,719 | |||||||||||
Balance at Jun. 30, 2020 | $ 279 | 95,560,867 | (94,778,693) | 782,453 | ||||||||
Balance (in shares) at Mar. 31, 2020 | 2,309,944 | |||||||||||
Balance at Mar. 31, 2020 | $ 231 | 91,794,732 | (93,205,984) | (1,411,021) | ||||||||
Issuance of common stock for directors’ fees (in shares) | 2,143 | |||||||||||
Issuance of common stock for directors’ fees | $ 1 | 15,006 | 0 | 15,007 | ||||||||
Legal and commitment fees | 0 | 199,328 | 0 | 199,328 | ||||||||
Share-based compensation | 0 | 33,177 | 0 | 33,177 | ||||||||
Net loss | $ 0 | 0 | (1,572,709) | (1,572,709) | ||||||||
Issuance of common stock pursuant to securities purchase agreements (in shares) | 31,440 | |||||||||||
Issuance of common stock pursuant to securities purchase agreements | $ 3 | 145,330 | 0 | 145,333 | ||||||||
Conversion of convertible note payable (in shares) | 440,192 | |||||||||||
Conversion of convertible note payable | $ 44 | 2,288,956 | 0 | 2,289,000 | ||||||||
Warrants issued | $ 0 | $ 1,388,339 | $ 0 | $ 1,388,339 | $ 0 | $ 94,655 | $ 0 | $ 94,655 | ||||
Legal and accounting | $ 0 | (199,328) | 0 | (199,328) | ||||||||
Balance (in shares) at Jun. 30, 2020 | 2,783,719 | |||||||||||
Balance at Jun. 30, 2020 | $ 279 | 95,560,867 | (94,778,693) | 782,453 | ||||||||
Balance (in shares) at Dec. 31, 2020 | 7,814,572 | |||||||||||
Balance at Dec. 31, 2020 | $ 782 | 119,844,026 | (99,509,689) | 20,335,119 | ||||||||
Issuance of common stock for directors’ fees (in shares) | 2,091 | |||||||||||
Issuance of common stock for directors’ fees | $ 0 | 7,510 | 0 | 7,510 | ||||||||
Legal and commitment fees | $ 0 | (2,709) | 0 | (2,709) | ||||||||
Issuance of restricted common stock to employees (in shares) | 1,250 | |||||||||||
Issuance of restricted common stock to employees | $ 0 | 0 | 0 | 0 | ||||||||
Share-based compensation | 0 | 133,638 | 0 | 133,638 | ||||||||
Net loss | 0 | 0 | (851,431) | (851,431) | ||||||||
Legal and accounting | $ 0 | 2,709 | 0 | 2,709 | ||||||||
Balance (in shares) at Mar. 31, 2021 | 7,817,913 | |||||||||||
Balance at Mar. 31, 2021 | $ 782 | 119,982,465 | (100,361,120) | 19,622,127 | ||||||||
Balance (in shares) at Dec. 31, 2020 | 7,814,572 | |||||||||||
Balance at Dec. 31, 2020 | $ 782 | 119,844,026 | (99,509,689) | 20,335,119 | ||||||||
Net loss | (2,013,114) | |||||||||||
Balance (in shares) at Jun. 30, 2021 | 7,819,661 | |||||||||||
Balance at Jun. 30, 2021 | $ 782 | 120,021,069 | (101,522,803) | 18,499,048 | ||||||||
Balance (in shares) at Mar. 31, 2021 | 7,817,913 | |||||||||||
Balance at Mar. 31, 2021 | $ 782 | 119,982,465 | (100,361,120) | 19,622,127 | ||||||||
Issuance of common stock for directors’ fees (in shares) | 1,748 | |||||||||||
Issuance of common stock for directors’ fees | $ 0 | 5,505 | 0 | 5,505 | ||||||||
Legal and commitment fees | $ 0 | (2,519) | 0 | (2,519) | ||||||||
Issuance of restricted common stock to employees (in shares) | 1,250 | |||||||||||
Issuance of restricted common stock to employees | $ 0 | 0 | 0 | 0 | ||||||||
Share-based compensation | 0 | 35,618 | 0 | 35,618 | ||||||||
Net loss | $ 0 | 0 | (1,161,683) | (1,161,683) | ||||||||
Restricted stock forfeited (in shares) | (1,250) | |||||||||||
Restricted stock forfeited | $ 0 | 0 | 0 | 0 | ||||||||
Legal and accounting | $ 0 | 2,519 | 0 | 2,519 | ||||||||
Balance (in shares) at Jun. 30, 2021 | 7,819,661 | |||||||||||
Balance at Jun. 30, 2021 | $ 782 | $ 120,021,069 | $ (101,522,803) | $ 18,499,048 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
CASH FLOW FROM OPERATING ACTIVITIES: | |||||||
Net loss | $ (1,161,683) | $ (851,431) | $ (1,572,709) | $ (3,370,282) | $ (2,013,114) | $ (4,942,991) | |
Adjustments to reconcile net loss to net cash used for operating activities: | |||||||
Depreciation | 37,234 | 39,919 | |||||
Amortization of intangible assets | 108,034 | 12,189 | |||||
Amortization of software license rights | 5,009 | 0 | |||||
Amortization of capitalized contract costs | 48,997 | 73,660 | |||||
Amortization of debt discount | 18,000 | 398,929 | |||||
Amortization of debt issuance costs | 0 | 981,529 | |||||
Operating leases right-of-use assets | 115,022 | 92,632 | |||||
Loss on extinguishment of debt | 0 | 0 | 0 | 499,076 | |||
Loss on foreign currency transactions | 50,000 | 0 | 50,000 | 0 | $ 0 | ||
Amortization of beneficial conversion feature | 0 | 641,215 | |||||
Interest expense capitalized to note payable | 0 | 96,984 | |||||
Share and warrant-based compensation for employees and consultants | 169,256 | 640,551 | |||||
Stock based directors’ fees | 13,015 | 15,007 | |||||
Change in assets and liabilities: | |||||||
Accounts receivable | (849,628) | (4,549) | |||||
Due from factor | 10,953 | 31,307 | |||||
Capitalized contract costs | (76,191) | (18,486) | |||||
Inventory | (1,959,681) | 40,221 | |||||
Resalable software license rights | 0 | 5,028 | |||||
Prepaid expenses and other | (1,410,592) | 19,241 | |||||
Accounts payable | 620,689 | (298,797) | |||||
Accrued liabilities | 66,727 | (192,917) | |||||
Deferred revenue | (81,507) | (9,601) | |||||
Operating lease liabilities | (114,700) | (89,787) | |||||
Net cash used for operating activities | (5,242,477) | (1,969,640) | |||||
CASH FLOWS FROM INVESTING ACTIVITIES: | |||||||
Purchase of PistolStar | 0 | (2,000,000) | |||||
Cash acquired from purchase of PistolStar | 0 | 100,747 | |||||
Proceeds from maturity of investment | 0 | 512,821 | |||||
Purchase of investment | 0 | (516,121) | |||||
Capital expenditures | (15,700) | (3,489) | |||||
Net cash used for investing activities | (15,700) | (1,906,042) | |||||
CASH FLOW FROM FINANCING ACTIVITIES: | |||||||
Proceeds from issuance of convertible notes | 0 | 3,958,000 | |||||
Costs to issue convertible notes | (5,228) | (398,412) | |||||
Proceeds from warrant exercises | 0 | 1,458,000 | |||||
Repayment of convertible note | (250,000) | (211,984) | |||||
Net repayments of related party loans | 0 | (122,271) | |||||
Net cash (used in) provided by financing activities | (255,228) | 4,683,333 | 24,000,000 | ||||
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | (5,513,405) | 807,651 | |||||
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD | $ 16,993,096 | $ 79,013 | 16,993,096 | 79,013 | 79,013 | ||
CASH AND CASH EQUIVALENTS, END OF PERIOD | 11,479,691 | 886,664 | 11,479,691 | 886,664 | $ 16,993,096 | ||
Cash paid for: | |||||||
Interest | 18,000 | 0 | |||||
Noncash investing and financing activities | |||||||
Accounts receivable acquired from PistolStar | 0 | 184,792 | |||||
Prepaid expenses acquired from PistolStar | 0 | 9,485 | |||||
Equipment acquired from PistolStar | 0 | 36,467 | |||||
Intangible assets acquired from PistolStar | 0 | 2,005,000 | |||||
Goodwill related to PistolStar acquisition | 0 | 417,171 | |||||
Issuance of note payable for PistolStar acquisition | 0 | 500,000 | |||||
Accrued expenses acquired from PistolStar | 0 | 494 | |||||
Deferred revenue acquired from PistolStar | 0 | 253,168 | |||||
Operating lease liability addition under ASC 842 | 0 | 79,107 | |||||
Issuance of common stock pursuant to securities purchase agreements | 0 | 277,833 | |||||
Warrants issued with convertible notes | 0 | 1,388,339 | |||||
Original issue discount related to convertible notes | 0 | 551,250 | |||||
Deemed dividends related to down-round features | $ 0 | $ 0 | 0 | 112,686 | |||
Issuance of common stock for conversion of note payable | 0 | 3,789,000 | |||||
Beneficial conversion feature | 0 | 641,215 | |||||
Legal and commitment fees related to debt and equity included in accounts payable | 0 | 122,714 | |||||
Accounting Standards Update 2016-02 [Member] | |||||||
Noncash investing and financing activities | |||||||
Right-of-use asset addition under ASC 842 | $ 0 | $ 79,107 |
Note 1 - Nature of Business and
Note 1 - Nature of Business and Basis of Presentation | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Business Description and Accounting Policies [Text Block] | 1. NATURE OF BUSINESS AND BASIS OF PRESENTATION Nature of Business The Company, founded in 1993, Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements include the accounts of BIO-key International, Inc. and its wholly-owned subsidiaries (collectively, the “Company” or “BIO-key”) and are stated in conformity with accounting principles generally accepted in the United States of America, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The operating results for interim periods are not may In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all necessary adjustments, consisting only of those of a recurring nature, and disclosures to present fairly the Company’s financial position and the results of its operations and cash flows for the periods presented. The balance sheet at December 31, 2020 not 10 December 31, 2020, March 29, 2021. Effective November 20, 2020, 1 Foreign Currency The Company accounts for foreign currency transactions pursuant to ASC 830, Foreign Currency Matters 830” 830, Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments-Credit Losses 326 2016 13, not 2016 13 2016 13 no not may not 2016 13. 2016 13 December 15, 2022 March 31, 2023 2016 13 Effective January 1, 2021, 2019 12, Simplifying the Accounting for Income Taxes 2019 12” 2019 12 2019 12 2019 12 2019 12 not Management does not not Reclassification Reclassifications occurred to certain prior year amounts in order to conform to the current year classifications. The reclassifications have no |
Note 2 - Going Concern
Note 2 - Going Concern | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | 2. GOING CONCERN The Company has historically financed its operations through access to the capital markets by issuing secured and convertible debt securities, convertible preferred stock, common stock, and through factoring receivables. The Company currently requires approximately $735,000 per month to conduct operations, a monthly amount that it has been unable to consistently achieve through revenue generation. During the first 2021, 19 may 2020, June 30, 2021 twelve |
Note 3 - Revenue From Contracts
Note 3 - Revenue From Contracts With Customers | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | 3. REVENUE FROM CONTRACTS WITH CUSTOMERS In accordance with ASC 606, Revenue from Contracts with Customers 606” five ● Identify the contract with a customer ● Identify the performance obligations in the contract ● Determine the transaction price ● Allocate the transaction price to performance obligations in the contract ● Recognize revenue when or as the Company satisfies a performance obligation Disaggregation of Revenue The following table summarizes revenue from contracts with customers for the three June 30, 2021 June 30, 2020: North America Africa EMESA* Asia June 30, 2021 Services $ 272,277 $ - $ 10,462 $ 3,902 $ 286,641 License fees 403,689 249,484 9,020 - 662,193 Hardware 43,175 - - 81 43,256 Total Revenues $ 719,141 $ 249,484 $ 19,482 $ 3,983 $ 992,090 North America Africa EMESA* Asia June 30, 2020 Services $ 209,846 $ - $ 11,309 $ 8,348 $ 229,503 License fees 23,542 - - - 23,542 Hardware 48,327 - - 5,770 54,097 Total Revenues $ 281,715 $ - $ 11,309 $ 14,118 $ 307,142 The following table summarizes revenue from contracts with customers for the six June 30, 2021 June 30, 2020: North America Africa EMESA* Asia June 30, 2021 Services $ 631,891 $ - $ 28,350 $ 6,422 $ 666,663 License fees 772,489 249,484 51,528 67,650 1,141,151 Hardware 91,970 684,839 265,995 30,110 1,072,914 Total Revenues $ 1,496,350 $ 934,323 $ 345,873 $ 104,182 $ 2,880,728 North America Africa EMESA* Asia June 30, 2020 Services $ 406,162 $ - $ 15,451 $ 15,413 $ 437,026 License fees 188,777 - - 70,110 258,887 Hardware 104,681 - - 29,033 133,714 Total Revenues $ 699,620 $ - $ 15,451 $ 114,556 $ 829,627 *EMESA – Europe, Middle East, South America Software licenses Software license revenue consist of fees for perpetual and subscription licenses for one Hardware Hardware revenue consists of fees for associated equipment sold with or without a software license arrangement, such as servers, locks and fingerprint readers. Customers are not third may Support and Maintenance Support and maintenance revenue consists of fees for unspecified upgrades, telephone assistance and bug fixes. The Company satisfies its support and maintenance performance obligation by providing “stand-ready” assistance as required over the contract period. The Company records deferred revenue (contract liability) at time of prepayment until the term of the contract ends. Revenue is recognized over time on a ratable basis over the contract term. Support and maintenance contracts are up to one five Professional Services Professional services revenues consist primarily of fees for deployment and optimization services, as well as training. The majority of the Company’s consulting contracts are billed on a time and materials basis, and revenue is recognized based on the amount billable to the customer in accordance with practical expedient ASC 606 10 55 18. Contracts with Multiple Performance Obligations Some contracts with customers contain multiple performance obligations. For these contracts, the Company accounts for individual performance obligations separately if they are distinct. The transaction price is allocated to the separate performance obligations on a relative standalone selling price basis. The standalone selling prices are determined based on overall pricing objectives, taking into consideration market conditions and other factors, including the value of the contracts, the cloud applications sold, customer demographics, geographic locations, and the number and types of users within the contracts. The Company considered several factors in determining that control transfers to the customer upon shipment of hardware and availability of download of software. These factors include that legal title transfers to the customer, the Company has a present right to payment, and the customer has assumed the risks and rewards of ownership upon shipment of hardware and availability of download of software. Accounts receivable from customers are typically due within 30 not Costs to Obtain and Fulfill a Contract Costs to obtain and fulfill a contract are predominantly sales commissions earned by the sales force and are considered incremental and recoverable costs of obtaining a contract with a customer. These costs are deferred and then amortized over a period of benefit determined to be four Transaction Price Allocated to the Remaining Performance Obligations ASC 606 not June 30, 2021. ● The performance obligation is part of a contract that has an original expected duration of one 606 10 50 14. At June 30, 2021, one five All of the Company's performance obligations, and associated revenue, are generally transferred to customers at a point in time, with the exception of support and maintenance, and professional services, which are generally transferred to the customer over time. Deferred Revenue Deferred revenue includes customer advances and amounts that have been paid by customer for which the contractual maintenance terms have not 12 60 12 June 30, 2021 December 31, 2020, three six June 30, 2021 not |
Note 4 - PistolStar, Inc. Acqui
Note 4 - PistolStar, Inc. Acquisition | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Business Combination Disclosure [Text Block] | 4. PISTOLSTAR, INC. ACQUISITION On June 30, 2020, From April 10, 2020 The total purchase price of $2.5 million included cash payment of $2.0 million and the issuance of a $500,000 promissory note. The promissory note, which was issued to the previous owner of PistolStar, accrued interest at 4% per annum and was payable in four installments over the 12-month period following the closing. The balance of the note at December 31, 2020 January 21, 2021, The fair value of the assets acquired and liabilities assumed was less than the purchase price, resulting in the recognition of goodwill. The goodwill reflected the value of the synergies the Company expected to realize and the assembled workforce. |
Note 5 - Accounts Receivable
Note 5 - Accounts Receivable | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | 5. ACCOUNTS RECEIVABLE Accounts receivable are carried at original amount less an estimate made for doubtful receivables based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful receivables by regularly evaluating individual customer receivables and considering a customer’s financial condition, credit history, and current economic conditions. Accounts receivable are written off when deemed uncollectible. Accounts receivable at June 30, 2021 December 31, 2020 June 30, December 31, 2021 2020 Accounts receivable - current $ 1,411,462 $ 561,834 Loss on foreign currency (50,000 ) - Allowance for doubtful account (13,785 ) (13,785 ) Accounts receivable, net of allowances for doubtful accounts $ 1,347,677 $ 548,049 |
Note 6 - Share Based Compensati
Note 6 - Share Based Compensation | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Share-based Payment Arrangement [Text Block] | 6. SHARE BASED COMPENSATION The following table presents share-based compensation expenses included in the Company’s unaudited condensed interim consolidated statements of operations: Three Months Ended June 30, 2021 2020 Selling, general and administrative $ 30,704 $ 140,328 Research, development and engineering 10,419 2,511 $ 41,123 $ 142,839 Six Months Ended June 30, 2021 2020 Selling, general and administrative $ 159,648 $ 581,636 Research, development and engineering 22,623 73,922 $ 182,271 $ 655,558 |
Note 7 - Factoring
Note 7 - Factoring | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Factoring [Text Block] | 7. FACTORING Due from factor consisted of the following as of: June 30, December 31, 2021 2020 Original invoice value $ 99,000 $ 241,715 Factored amount (49,500 ) (181,262 ) Due from factor $ 49,500 $ 60,453 The Company entered into an accounts receivable factoring arrangement with a financial institution (the “Factor”) which has been extended to October 31, 2021. Three Months ended June 30, 2021 2020 Factoring fees $ 18,900 $ 33,230 Six Months ended June 30, 2021 2020 Factoring fees $ 32,247 $ 65,230 |
Note 8 - Note Receivable
Note 8 - Note Receivable | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Notes Receivable [Text Block] | 8. NOTE RECEIVABLE During the third 2020, not nine 9 December 31, 2020. June 30, 2021. No six June 30, 2021. |
Note 9 - Prepaid Expenses and O
Note 9 - Prepaid Expenses and Other | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Prepaid Expenses and Other [Text Block] | 9. PREPAID EXPENSES AND OTHER Included in prepaid expense and other at June 30, 2021 may June 30, December 31, 2021 2020 Deposit for inventory $ 1,446,471 $ 66,995 Other prepaid expenses 107,786 64,178 Insurance 16,428 45,468 Software licenses 41,414 24,866 Total prepayments $ 1,612,099 $ 201,507 |
Note 10 - Inventory
Note 10 - Inventory | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | 10. INVENTORY Inventory is stated at the lower of cost, determined on a first first June 30, December 31, 2021 2020 Finished goods $ 2,092,622 $ 221,130 Fabricated assemblies 198,006 109,817 Total inventory $ 2,290,628 $ 330,947 |
Note 11 - Resalable Software Li
Note 11 - Resalable Software License Rights | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Research, Development, and Computer Software Disclosure [Text Block] | 11. RESALABLE SOFTWARE LICENSE RIGHTS On December 31, 2015, third two three June 30, 2021 2020, six June 30, 2021 2020, June 30, 2020 December 31, 2020, |
Note 12 - Investment in Debt Se
Note 12 - Investment in Debt Security | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | 12. INVESTMENT IN DEBT SECURITY The Company purchased a 4,000,000 Hong Kong dollar denominated Bond Certificate with a financial institution in Hong Kong in June 2020. |
Note 13 - Commitment
Note 13 - Commitment | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Commitments Disclosure [Text Block] | 13. COMMITMENT Sales Incentive Agreement with TTI On March 25, 2020, 1. The original term of the agreement was one one 2. For each $5,000,000 in revenue (up to a maximum of $20,000,000) TTI generates during the first 3. In the event that TTI generates revenue in excess of $20,000,000 first five $1,000,000 $20,000,000 In no There has been no revenue generated or sales incentive fees paid during the six June 30, 2021 2020. |
Note 14 - Convertible Notes Pay
Note 14 - Convertible Notes Payable | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | 14. CONVERTIBLE NOTES PAYABLE There was no June 30, 2021 December 31, 2020. 2020 Securities Purchase Agreement dated July 10, 2019 On July 10, 2019, 180 270 12 The Original Note was secured by a lien on substantially all of the Company’s assets and properties and was convertible at the option of the Investor in shares of common stock at a fixed conversion price of $12.00 per share. In connection with the closing of the Original Note, the Company issued a five On March 12, 2020, April 13, 2020. On April 12, 2020, May 6, 2020, June 12, 2020 June 12, 2020. Until the second 20% On June 10, 2020, 2020. January 2020 On January 13, 2020, “January 2020 June 13, 2020 January 2020 On June 12, 2020, January 2020 July 2020. February 2020 On February 13, 2020, “February 2020 July 13, 2020 March 12, 2020, February $5.20 February 2020 February 2020 The February 2020 July 10, 2020 May 2020 On May 6, 2020, “May 2020 five seven twelfth May 2020 May 2020 May 2020 five May 2020 Following the completion of the underwritten offering in July 2020, third 2020. July 2020. June 2020 On June 29, 2020, “June 2020 nine four twelfth June 2020 June 2020 In connection with the closing of the June 2020 five June 2020 Following the completion of the underwritten offering in July 2020, third 2020. July 2020. |
Note 15 - Leases
Note 15 - Leases | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Lessee, Operating Leases [Text Block] | 15. LEASES The Company leases office space in New Jersey, Hong Kong, Minnesota, and New Hampshire with lease termination dates of 2023, 2020, 2022, 2022, three six 3 Months ended June 30, 6 Months ended June 30, 2021 2021 Lease cost Operating lease cost $ 63,973 $ 127,946 Total lease cost $ 63,973 $ 127,946 Balance sheet information Operating ROU assets $ 372,303 Operating lease liabilities, current portion $ 221,399 Operating lease liabilities, non-current portion 162,373 Total operating lease liabilities $ 383,772 Weighted average remaining lease term (in years) – operating leases 1.83 Weighted average discount rate – operating leases 5.50 % Supplemental cash flow information related to leases were as follows, for the six June 30, 2021: Cash paid for amounts included in the measurement of operating lease liabilities $ 119,225 Maturities of operating lease liabilities were as follows: 2021 (remaining six months) $ 129,352 2022 187,594 2023 89,226 Total future lease payments $ 406,172 Less: imputed interest (22,400 ) Total $ 383,772 |
Note 16 - Earnings Per Share ("
Note 16 - Earnings Per Share ("EPS") - Common Stock ("EPS") | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Earnings Per Share [Text Block] | 16. EARNINGS (LOSS) PER SHARE - COMMON STOCK (“EPS”) The Company’s basic EPS is calculated using net loss available to common shareholders and the weighted-average number of shares outstanding during the reporting period. Diluted EPS includes the effect from potential issuance of common stock, such as stock issuable pursuant to the exercise of stock options and warrants and the assumed conversion of convertible notes. The reconciliation of the numerator of the basic and diluted EPS calculations was as follows for both of the following three six June 30, 2021 2020: Three Months ended June 30, Six Months ended June 30, 2021 2020 2021 2020 Basic and Diluted Numerator: Net loss $ (1,161,683 ) $ (1,572,709 ) $ (2,013,114 ) $ (4,942,991 ) Deemed dividends related to down-round features - - - (112,686 ) Net loss available to common stockholders (basic and diluted) $ (1,161,683 ) $ (1,572,709 ) $ (2,013,114 ) $ (5,055,677 ) Items excluded from the diluted per share calculation because the exercise price was greater than the average market price of the common shares: Three Months ended June 30, Six Months ended June 30, 2021 2020 2021 2020 Stock options 212,545 1,603,054 212,545 1,603,054 Warrants 4,689,387 5,651,889 4,689,387 5,651,889 Total 4,901,932 7,254,943 4,901,932 7,254,943 The following table summarizes the weighted average securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive due to the net losses for the three six June 30, 2021, 2020: Three Months ended June 30, Six Months ended June 30, 2021 2020 2021 2020 Stock options - 1,326 - 748 Warrants - 80,797 - 49,818 Convertible notes - 3,837,165 - 3,837,165 Total - 3,919,288 - 3,887,731 |
Note 17 - Stockholders' Equity
Note 17 - Stockholders' Equity | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | 17. STOCKHOLDERS’ EQUITY 1. Within the limits and restrictions provided in the Company’s Certificate of Incorporation, the Board of Directors has the authority, without further action by the shareholders, to issue up to 5,000,000 shares of preferred stock, $.0001 par value per share, in one 2. Effective November 20, 2020, 1 not November 20, 2020. Holders of common stock have equal rights to receive dividends when, as and if declared by the Board of Directors, out of funds legally available therefor. Holders of common stock have one not Holders of common stock are entitled, upon liquidation of the Company, to share ratably in the net assets available for distribution, subject to the rights, if any, of holders of any preferred stock then outstanding. Shares of common stock are not no Issuances of Common Stock On March 30, 2020, See Note 14 2020. Issuances of Nonvested Stock Nonvested stock consists of shares of common stock that are subject to restrictions on transfer and risk of forfeiture until the fulfillment of specified conditions. The fair value of nonvested shares is determined based on the market price of the Company's common stock on the grant date. Nonvested stock is expensed ratably over the term of the restriction period. The Company issued 2,500 shares of restricted common stock to certain employees of the Company and 1,250 of shares of restricted common stock were forfeited during the six June 30, 2021. three Nonvested stock compensation for the three six June 30, 2021, There were no shares of nonvested stock issued in the three six June 30, 2020. Issuances to Directors, Executive Officers & Consultants During the three six June 30, 2021, three six June 30, 2020, $15,007 Employees exercise options During the three six June 30, 2021 2020, 3. During the three June 30, 2020, three six June 30, 2021. See Note 14 2020. 4. September 23, 2015 On September 23, 2015, “2015 five 2015 September 2020. The 2015 first 2020 February 2020 2015 |
Note 18 - Fair Values of Financ
Note 18 - Fair Values of Financial Instruments | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | 18. FAIR VALUES OF FINANCIAL INSTRUMENTS Cash and cash equivalents, accounts receivable, accounts payable, accrued liabilities, and due from factor, are carried at, or approximate, fair value because of their short-term nature. The carrying values of the Company’s notes payable and operating lease liabilities approximated their fair values as of June 30, 2021, December 31, 2020, |
Note 19 - Major Customers and A
Note 19 - Major Customers and Accounts Receivable | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Concentration Risk Disclosure [Text Block] | 19. MAJOR CUSTOMERS AND ACCOUNTS RECEIVABLE For the three June 30, 2021, 2020, six June 30, 2021, 2020, Two June 30, 2021. December 31, 2020, |
Note 20 - Subsequent Events
Note 20 - Subsequent Events | 6 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | 20. SUBSEQUENT EVENTS On August 12, 2021, three five The Company has reviewed subsequent events through the date of this filing. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 6 Months Ended |
Jun. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements include the accounts of BIO-key International, Inc. and its wholly-owned subsidiaries (collectively, the “Company” or “BIO-key”) and are stated in conformity with accounting principles generally accepted in the United States of America, pursuant to the rules and regulations of the Securities and Exchange Commission (the “SEC”). The operating results for interim periods are not may In the opinion of management, the accompanying unaudited interim consolidated financial statements contain all necessary adjustments, consisting only of those of a recurring nature, and disclosures to present fairly the Company’s financial position and the results of its operations and cash flows for the periods presented. The balance sheet at December 31, 2020 not 10 December 31, 2020, March 29, 2021. Effective November 20, 2020, 1 |
Foreign Currency Transactions and Translations Policy [Policy Text Block] | Foreign Currency The Company accounts for foreign currency transactions pursuant to ASC 830, Foreign Currency Matters 830” 830, |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In June 2016, 2016 13, Financial Instruments-Credit Losses 326 2016 13, not 2016 13 2016 13 no not may not 2016 13. 2016 13 December 15, 2022 March 31, 2023 2016 13 Effective January 1, 2021, 2019 12, Simplifying the Accounting for Income Taxes 2019 12” 2019 12 2019 12 2019 12 2019 12 not Management does not not |
Reclassification, Comparability Adjustment [Policy Text Block] | Reclassification Reclassifications occurred to certain prior year amounts in order to conform to the current year classifications. The reclassifications have no |
Note 3 - Revenue From Contrac_2
Note 3 - Revenue From Contracts With Customers (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | North America Africa EMESA* Asia June 30, 2021 Services $ 272,277 $ - $ 10,462 $ 3,902 $ 286,641 License fees 403,689 249,484 9,020 - 662,193 Hardware 43,175 - - 81 43,256 Total Revenues $ 719,141 $ 249,484 $ 19,482 $ 3,983 $ 992,090 North America Africa EMESA* Asia June 30, 2020 Services $ 209,846 $ - $ 11,309 $ 8,348 $ 229,503 License fees 23,542 - - - 23,542 Hardware 48,327 - - 5,770 54,097 Total Revenues $ 281,715 $ - $ 11,309 $ 14,118 $ 307,142 North America Africa EMESA* Asia June 30, 2021 Services $ 631,891 $ - $ 28,350 $ 6,422 $ 666,663 License fees 772,489 249,484 51,528 67,650 1,141,151 Hardware 91,970 684,839 265,995 30,110 1,072,914 Total Revenues $ 1,496,350 $ 934,323 $ 345,873 $ 104,182 $ 2,880,728 North America Africa EMESA* Asia June 30, 2020 Services $ 406,162 $ - $ 15,451 $ 15,413 $ 437,026 License fees 188,777 - - 70,110 258,887 Hardware 104,681 - - 29,033 133,714 Total Revenues $ 699,620 $ - $ 15,451 $ 114,556 $ 829,627 |
Note 5 - Accounts Receivable (T
Note 5 - Accounts Receivable (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 2021 2020 Accounts receivable - current $ 1,411,462 $ 561,834 Loss on foreign currency (50,000 ) - Allowance for doubtful account (13,785 ) (13,785 ) Accounts receivable, net of allowances for doubtful accounts $ 1,347,677 $ 548,049 |
Note 6 - Share Based Compensa_2
Note 6 - Share Based Compensation (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Table Text Block] | Three Months Ended June 30, 2021 2020 Selling, general and administrative $ 30,704 $ 140,328 Research, development and engineering 10,419 2,511 $ 41,123 $ 142,839 Six Months Ended June 30, 2021 2020 Selling, general and administrative $ 159,648 $ 581,636 Research, development and engineering 22,623 73,922 $ 182,271 $ 655,558 |
Note 7 - Factoring (Tables)
Note 7 - Factoring (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 2021 2020 Accounts receivable - current $ 1,411,462 $ 561,834 Loss on foreign currency (50,000 ) - Allowance for doubtful account (13,785 ) (13,785 ) Accounts receivable, net of allowances for doubtful accounts $ 1,347,677 $ 548,049 |
Factoring Fees [Table Text Block] | Three Months ended June 30, 2021 2020 Factoring fees $ 18,900 $ 33,230 Six Months ended June 30, 2021 2020 Factoring fees $ 32,247 $ 65,230 |
Factored Accounts Receivable [Member] | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | June 30, December 31, 2021 2020 Original invoice value $ 99,000 $ 241,715 Factored amount (49,500 ) (181,262 ) Due from factor $ 49,500 $ 60,453 |
Note 9 - Prepaid Expenses and_2
Note 9 - Prepaid Expenses and Other (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Table Text Block] | June 30, December 31, 2021 2020 Deposit for inventory $ 1,446,471 $ 66,995 Other prepaid expenses 107,786 64,178 Insurance 16,428 45,468 Software licenses 41,414 24,866 Total prepayments $ 1,612,099 $ 201,507 |
Note 10 - Inventory (Tables)
Note 10 - Inventory (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, December 31, 2021 2020 Finished goods $ 2,092,622 $ 221,130 Fabricated assemblies 198,006 109,817 Total inventory $ 2,290,628 $ 330,947 |
Note 15 - Leases (Tables)
Note 15 - Leases (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Lessee, Operating Lease, Costs, Assets and Liabilities [Table Text Block] | 3 Months ended June 30, 6 Months ended June 30, 2021 2021 Lease cost Operating lease cost $ 63,973 $ 127,946 Total lease cost $ 63,973 $ 127,946 Balance sheet information Operating ROU assets $ 372,303 Operating lease liabilities, current portion $ 221,399 Operating lease liabilities, non-current portion 162,373 Total operating lease liabilities $ 383,772 Weighted average remaining lease term (in years) – operating leases 1.83 Weighted average discount rate – operating leases 5.50 % |
Lessee, Operating Lease, Supplemental Cash Flow Information [Table Text Block] | Cash paid for amounts included in the measurement of operating lease liabilities $ 119,225 |
Lessee, Operating Lease, Liability, Maturity [Table Text Block] | 2021 (remaining six months) $ 129,352 2022 187,594 2023 89,226 Total future lease payments $ 406,172 Less: imputed interest (22,400 ) Total $ 383,772 |
Note 16 - Earnings Per Share _2
Note 16 - Earnings Per Share ("EPS") - Common Stock ("EPS") (Tables) | 6 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | Three Months ended June 30, Six Months ended June 30, 2021 2020 2021 2020 Basic and Diluted Numerator: Net loss $ (1,161,683 ) $ (1,572,709 ) $ (2,013,114 ) $ (4,942,991 ) Deemed dividends related to down-round features - - - (112,686 ) Net loss available to common stockholders (basic and diluted) $ (1,161,683 ) $ (1,572,709 ) $ (2,013,114 ) $ (5,055,677 ) |
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block] | Three Months ended June 30, Six Months ended June 30, 2021 2020 2021 2020 Stock options 212,545 1,603,054 212,545 1,603,054 Warrants 4,689,387 5,651,889 4,689,387 5,651,889 Total 4,901,932 7,254,943 4,901,932 7,254,943 Three Months ended June 30, Six Months ended June 30, 2021 2020 2021 2020 Stock options - 1,326 - 748 Warrants - 80,797 - 49,818 Convertible notes - 3,837,165 - 3,837,165 Total - 3,919,288 - 3,887,731 |
Note 1 - Nature of Business a_2
Note 1 - Nature of Business and Basis of Presentation (Details Textual) | Nov. 20, 2020 |
Reverse Stock Split [Member] | |
Stockholders' Equity Note, Stock Split, Conversion Ratio | 8 |
Note 2 - Going Concern (Details
Note 2 - Going Concern (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Monthly Cash Requirement to Conduct Operations and Pay Dividend Obligations | $ 735,000 | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 992,090 | $ 307,142 | 2,880,728 | $ 829,627 | |
Net Cash Provided by (Used in) Financing Activities, Total | (255,228) | $ 4,683,333 | $ 24,000,000 | ||
Cash and Cash Equivalents, at Carrying Value, Ending Balance | $ 11,479,691 | $ 11,479,691 | $ 16,993,096 |
Note 3 - Revenue From Contrac_3
Note 3 - Revenue From Contracts With Customers (Details Textual) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | |
Percentage of Support and Maintenance Revenue to License Cost | 18.00% | |||
Capitalized Contract Cost, Amortization Period (Year) | 4 years | |||
Contract with Customer, Liability, Total | $ 621,000 | $ 621,000 | $ 702,000 | |
Contract with Customer, Liability, Revenue Recognized | $ 124,000 | $ 430,000 |
Note 3 - Revenue From Contrac_4
Note 3 - Revenue From Contracts With Customers - Disaggregation of Revenue (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 992,090 | $ 307,142 | $ 2,880,728 | $ 829,627 | |
Service [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 286,641 | 229,503 | 666,663 | 437,026 | |
License [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 662,193 | 23,542 | 1,141,151 | 258,887 | |
Hardware [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 43,256 | 54,097 | 1,072,914 | 133,714 | |
North America [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 719,141 | 281,715 | 1,496,350 | 699,620 | |
North America [Member] | Service [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 272,277 | 209,846 | 631,891 | 406,162 | |
North America [Member] | License [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 403,689 | 23,542 | 772,489 | 188,777 | |
North America [Member] | Hardware [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 43,175 | 48,327 | 91,970 | 104,681 | |
South America [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 249,484 | 0 | 934,323 | 0 | |
South America [Member] | Service [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 0 | 0 | |
South America [Member] | License [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 249,484 | 0 | 249,484 | 0 | |
South America [Member] | Hardware [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 684,839 | 0 | |
EMEA [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | [1] | 19,482 | 11,309 | 345,873 | 15,451 |
EMEA [Member] | Service [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 10,462 | 11,309 | 28,350 | 15,451 | |
EMEA [Member] | License [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | [1] | 9,020 | 0 | 51,528 | 0 |
EMEA [Member] | Hardware [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | [1] | 0 | 0 | 265,995 | 0 |
Asia [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 3,983 | 14,118 | 104,182 | 114,556 | |
Asia [Member] | Service [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 3,902 | 8,348 | 6,422 | 15,413 | |
Asia [Member] | License [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 0 | 0 | 67,650 | 70,110 | |
Asia [Member] | Hardware [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 81 | $ 5,770 | $ 30,110 | $ 29,033 | |
[1] | EMESA – Europe, Middle East, South America |
Note 4 - PistolStar, Inc. Acq_2
Note 4 - PistolStar, Inc. Acquisition (Details Textual) - PistolStar [Member] - USD ($) | Jan. 21, 2021 | Jun. 30, 2020 | Dec. 31, 2020 |
Business Combination, Consideration Transferred, Total | $ 2,500,000 | ||
Payments to Acquire Businesses, Net of Cash Acquired, Total | 2,000,000 | ||
Business Combination, Consideration Transferred, Liabilities Incurred | $ 500,000 | ||
Promissory Note [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 4.00% | ||
Debt Instrument, Number of Installments | 4 | ||
Debt Instrument, Term (Month) | 12 months | ||
Notes Payable, Total | $ 232,000 | ||
Repayments of Notes Payable | $ 250,000 |
Note 5 - Accounts Receivable -
Note 5 - Accounts Receivable - Summary of Accounts Receivable (Details) - USD ($) | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Accounts receivable - current | $ 1,411,462 | $ 1,411,462 | $ 561,834 | ||
Loss on foreign currency transactions | (50,000) | $ 0 | (50,000) | $ 0 | 0 |
Allowance for doubtful account | (13,785) | (13,785) | (13,785) | ||
Accounts receivable, net of allowances for doubtful accounts | $ 1,347,677 | $ 1,347,677 | $ 548,049 |
Note 6 - Share Based Compensa_3
Note 6 - Share Based Compensation - Expenses for Continuing Operations (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Share-based compensation expense | $ 41,123 | $ 142,839 | $ 182,271 | $ 655,558 |
Selling, General and Administrative Expenses [Member] | ||||
Share-based compensation expense | 30,704 | 140,328 | 159,648 | 581,636 |
Research and Development Expense [Member] | ||||
Share-based compensation expense | $ 10,419 | $ 2,511 | $ 22,623 | $ 73,922 |
Note 7 - Factoring (Details Tex
Note 7 - Factoring (Details Textual) | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Factoring Arrangement, Minimum Amount of Accounts Receivable Per Quarter | $ 150,000 |
Minimum [Member] | |
Factoring Fees Percent | 2.75% |
Maximum [Member] | |
Factoring Fees Percent | 15.00% |
Geographic Distribution, Foreign [Member] | |
Percentage Of Accounts Receivable Remitted By Factor | 35.00% |
Geographic Distribution, Domestic [Member] | |
Percentage Of Accounts Receivable Remitted By Factor | 75.00% |
Note 7 - Factoring - Due From F
Note 7 - Factoring - Due From Factor (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Original invoice value | $ 99,000 | $ 241,715 |
Factored amount | (49,500) | (181,262) |
Due from factor | $ 49,500 | $ 60,453 |
Note 7 - Factoring - Fees (Deta
Note 7 - Factoring - Fees (Details) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Factoring fees | $ 18,900 | $ 33,230 | $ 32,247 | $ 65,230 |
Note 8 - Note Receivable (Detai
Note 8 - Note Receivable (Details Textual) - USD ($) | 6 Months Ended | ||
Jun. 30, 2021 | Dec. 31, 2020 | Sep. 30, 2020 | |
Financing Receivable, after Allowance for Credit Loss, Current, Total | $ 0 | $ 295,000 | $ 295,000 |
Receivable with Imputed Interest, Effective Yield (Interest Rate) | 5.00% |
Note 9 - Prepaid Expenses and_3
Note 9 - Prepaid Expenses and Other (Details Textual) $ in Millions | Jun. 30, 2021USD ($) |
Prepaid Deposit for Hardware Devices [Member] | $ 1.4 |
Note 9 - Prepaid Expenses and_4
Note 9 - Prepaid Expenses and Other - Prepaid Expenses (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Deposit for inventory | $ 1,446,471 | $ 66,995 |
Other prepaid expenses | 107,786 | 64,178 |
Insurance | 16,428 | 45,468 |
Software licenses | 41,414 | 24,866 |
Total prepayments | $ 1,612,099 | $ 201,507 |
Note 10 - Inventory - Component
Note 10 - Inventory - Components of Inventory (Details) - USD ($) | Jun. 30, 2021 | Dec. 31, 2020 |
Finished goods | $ 2,092,622 | $ 221,130 |
Fabricated assemblies | 198,006 | 109,817 |
Total inventory | $ 2,290,628 | $ 330,947 |
Note 11 - Resalable Software _2
Note 11 - Resalable Software License Rights (Details Textual) - USD ($) | Dec. 31, 2015 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 |
Amortization of Intangible Assets, Total | $ 108,034 | $ 12,189 | ||||
Software License Rights [Member] | ||||||
Payments to Acquire Software | $ 180,000 | |||||
Finite-Lived Intangible Asset, Useful Life (Year) | 10 years | |||||
Amortization of Intangible Assets, Total | $ 2,488 | $ 0 | 5,009 | $ 5,028 | ||
Software License Rights [Member] | Cost of Sales [Member] | ||||||
Amortization of Intangible Assets, Total | 126,127 | |||||
The 2015 Software License [Member] | ||||||
Software License Rights | $ 53,873 | $ 53,873 | $ 58,882 |
Note 12 - Investment in Debt _2
Note 12 - Investment in Debt Security (Details Textual) | Jun. 30, 2021USD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2020USD ($) | Jun. 30, 2020HKD ($) |
Debt Securities, Held-to-maturity, Current | $ 512,821 | $ 512,821 | ||
Debt Security, Corporate, Non-US [Member] | ||||
Debt Securities, Held-to-maturity, Current | $ 512,821 | $ 4,000,000 | ||
Limit of Bond | $ 20,000,000 | |||
Investment in Held-to-maturity Debt Securities, Interest Rate | 5.00% | 5.00% |
Note 13 - Commitment (Details T
Note 13 - Commitment (Details Textual) - USD ($) | Mar. 25, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 30, 2020 | Sep. 23, 2015 |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 8,681 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 12 | $ 28.80 | |||
Technology Transfer Institute [Member] | Sales Incentive Agreement With TTI [Member] | |||||
Related Party Agreement, Term (Year) | 1 year | ||||
Related Party Transaction, Revenue Needed to Trigger Payment of Sales Incentive Fee | $ 5,000,000 | ||||
Related Party Transaction, Revenue to Trigger Payment of Sales Incentive Fee, Percent of Net Income, Minimum | 20.00% | ||||
Related Party Transaction, Sales Incentive Fee For Each 5 Million Revenue | $ 500,000 | ||||
Stock Issuable for Sales Incentive Fee Per Each 5 Million Revenue (in shares) | 62,500 | ||||
Related Party Transaction, Maximum Revenue, Warrants Issuable | $ 25,000,000 | ||||
Revenue from Related Parties | $ 0 | $ 0 | |||
Technology Transfer Institute [Member] | Sales Incentive Agreement With TTI [Member] | Warrants Issuable for Each 1 Million Revenue in Excess of 20 Million [Member] | |||||
Warrants and Rights Outstanding, Term (Year) | 5 years | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 12,500 | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 12 | ||||
Technology Transfer Institute [Member] | Sales Incentive Agreement With TTI [Member] | Maximum [Member] | |||||
Related Party Transaction, Maximum Revenue to Trigger Payment of Sales Incentive Fee | $ 20,000,000 | ||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 62,500 | ||||
Stock Issuable for Sales Incentive Agreement (in shares) | 250,000 |
Note 14 - Convertible Notes P_2
Note 14 - Convertible Notes Payable (Details Textual) - USD ($) | Jul. 10, 2020 | Jun. 29, 2020 | Jun. 12, 2020 | Jun. 10, 2020 | May 06, 2020 | Mar. 12, 2020 | Feb. 13, 2020 | Jan. 13, 2020 | Jul. 10, 2019 | Jul. 31, 2020 | Sep. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 30, 2020 | Sep. 23, 2015 |
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 8,681 | ||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 12 | $ 28.80 | |||||||||||||
Payments of Stock Issuance Costs, Commitment Fees | $ 50,000 | ||||||||||||||
Stock Issued During Period, Shares, Issued for Due Diligence Fee (in shares) | 17,071 | 14,368 | 33,334 | ||||||||||||
Stock Issued During Period, Value, Issued for Due Diligence Fee | $ 100,000 | $ 133,333 | $ 400,000 | ||||||||||||
Payments of Stock Issuance Costs, Banker Fees | 193,500 | ||||||||||||||
Payments of Stock Issuance Costs, Legal Fees | 71,330 | ||||||||||||||
Class of Warrant or Right, Recorded as Debt Discount | $ 595,662 | ||||||||||||||
Share Price (in dollars per share) | $ 5.20 | $ 6.08 | |||||||||||||
Repayments of Convertible Debt | $ 250,000 | $ 211,984 | |||||||||||||
Stock Returned During the Period, Shares, Commitment Fee (in shares) | 75,000 | ||||||||||||||
Shares Issued, Price Per Share (in dollars per share) | $ 5.86 | $ 9.28 | |||||||||||||
Conversion of Senior Secured Convertible Note to Common Stock [Member] | |||||||||||||||
Debt Conversion, Original Debt, Amount | $ 3,789,000 | ||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | 728,654 | ||||||||||||||
Investor Warrant [Member] | |||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | 5 years | 5 years | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 178,125 | 237,500 | 250,000 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 9.28 | $ 9.28 | $ 12 | ||||||||||||
Repayments of Convertible Debt | $ 2,415,000 | ||||||||||||||
Warrants and Rights Outstanding | $ 511,402 | $ 876,937 | |||||||||||||
Payments of Debt Issuance Costs | 1,218,163 | ||||||||||||||
Secured Redeemable Convertible Note [Member] | February 2020 Note [Member] | |||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 5.20 | $ 9.20 | |||||||||||||
The Note [Member] | Senior Secured Convertible Note [Member] | |||||||||||||||
Debt Instrument, Face Amount | $ 3,060,000 | ||||||||||||||
Proceeds from Debt, Net of Issuance Costs | 2,550,000 | ||||||||||||||
Debt Instrument, Unamortized Discount, Total | 510,000 | ||||||||||||||
Debt Instrument, Periodic Payment, Principal due in 180 Days | 918,000 | ||||||||||||||
Debt Instrument, Periodic Payment, Principal due in 270 Days | $ 1,071,000 | ||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 12 | ||||||||||||||
Amended Note [Member] | Senior Secured Convertible Note [Member] | |||||||||||||||
Debt Instrument, Face Amount | $ 3,789,000 | ||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 641,215 | ||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 5.20 | ||||||||||||||
Interest Expense, Debt, Total | $ 729,000 | ||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature, Per Share (in dollars per share) | $ 0.88 | ||||||||||||||
Long-term Debt, Total | $ 0 | ||||||||||||||
January 2020 Note [Member] | Secured Redeemable Convertible Note [Member] | |||||||||||||||
Debt Instrument, Face Amount | $ 157,000 | ||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 12 | ||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||||||||||||||
Stock Issued During Period, Shares, Commitment Fees (in shares) | 81,250 | ||||||||||||||
Debt Instrument, Fee Amount | $ 75,000 | ||||||||||||||
Debt Instrument, Covenant, Shares to be Paid, Commitment Fee, Repaid Prior to Maturity (in shares) | 6,250 | ||||||||||||||
Repayments of Convertible Debt | $ 211,984 | ||||||||||||||
February 2020 Note [Member] | Secured Redeemable Convertible Note [Member] | |||||||||||||||
Debt Instrument, Face Amount | $ 126,000 | ||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 10.00% | ||||||||||||||
Stock Issued During Period, Shares, Commitment Fees (in shares) | 6,250 | ||||||||||||||
Debt Instrument, Fee Amount | $ 57,500 | ||||||||||||||
Repayments of Convertible Debt | $ 170,442 | ||||||||||||||
Debt Instrument, Deemed Dividend Expense | $ 70,998 | ||||||||||||||
Legal Fees | $ 6,000 | ||||||||||||||
February 2020 Note [Member] | Secured Redeemable Convertible Note [Member] | Minimum [Member] | |||||||||||||||
Debt Instrument, Convertible, Premium Payment Percentage | 10.00% | ||||||||||||||
February 2020 Note [Member] | Secured Redeemable Convertible Note [Member] | Maximum [Member] | |||||||||||||||
Debt Instrument, Convertible, Premium Payment Percentage | 30.00% | ||||||||||||||
May 2020 Note [Member] | Secured Redeemable Convertible Note [Member] | |||||||||||||||
Debt Instrument, Face Amount | 2,415,000 | ||||||||||||||
Proceeds from Debt, Net of Issuance Costs | $ 2,100,000 | ||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 9.28 | ||||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 268,333 | ||||||||||||||
Placement Fee, Percent of Aggregate Gross Proceeds | 7.00% | ||||||||||||||
June 2020 Note [Member] | Secured Redeemable Convertible Note [Member] | |||||||||||||||
Debt Instrument, Face Amount | 1,811,250 | ||||||||||||||
Proceeds from Debt, Net of Issuance Costs | $ 1,575,000 | ||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ 9.28 | ||||||||||||||
Repayments of Convertible Debt | $ 1,811,250 | ||||||||||||||
Debt Instrument, Periodic Payment, Principal | $ 201,250 | ||||||||||||||
Placement Fee, Percent of Aggregate Gross Proceeds | 7.00% | ||||||||||||||
Amortization of Debt Issuance Costs and Discounts, Total | $ 957,919 |
Note 15 - Leases - Operating Le
Note 15 - Leases - Operating Lease Balance Sheet Information (Details) - USD ($) | 3 Months Ended | 6 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2021 | Dec. 31, 2020 | |
Operating lease cost | $ 63,973 | $ 127,946 | |
Total lease cost | 63,973 | 127,946 | |
Operating ROU assets | 372,303 | 372,303 | $ 487,325 |
Operating lease liabilities, current portion | 221,399 | 221,399 | 234,309 |
Operating lease liabilities, non-current portion | 162,373 | 162,373 | $ 264,163 |
Total operating lease liabilities | $ 383,772 | $ 383,772 | |
Weighted average remaining lease term (in years) – operating leases (Year) | 1 year 9 months 29 days | 1 year 9 months 29 days | |
Weighted average discount rate – operating leases | 5.50% | 5.50% |
Note 15 - Leases - Supplemental
Note 15 - Leases - Supplemental Cash Flow Information Related to Leases (Details) | 6 Months Ended |
Jun. 30, 2021USD ($) | |
Cash paid for amounts included in the measurement of operating lease liabilities | $ 119,225 |
Note 15 - Leases - Operating _2
Note 15 - Leases - Operating Lease Liability Maturity (Details) | Jun. 30, 2021USD ($) |
2021 (remaining six months) | $ 129,352 |
2022 | 187,594 |
2023 | 89,226 |
Total future lease payments | 406,172 |
Less: imputed interest | (22,400) |
Total | $ 383,772 |
Note 16 - Earnings Per Share _3
Note 16 - Earnings Per Share ("EPS") - Common Stock ("EPS") - Reconciliation of Numerator of Basic and Diluted EPS Calculations (Details) - USD ($) | Sep. 23, 2015 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2020 | Mar. 31, 2020 | Jun. 30, 2021 | Jun. 30, 2020 |
Net loss | $ (1,161,683) | $ (851,431) | $ (1,572,709) | $ (3,370,282) | $ (2,013,114) | $ (4,942,991) | |
Deemed dividends related to down-round features | $ (41,688) | 0 | 0 | 0 | (112,686) | ||
Net loss available to common stockholders | $ (1,161,683) | $ (1,572,709) | $ (2,013,114) | $ (5,055,677) |
Note 16 - Earnings Per Share _4
Note 16 - Earnings Per Share ("EPS") - Common Stock ("EPS") - Securities Excluded from the Diluted Per Share Calculation (Details) - shares | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | |
Exercise Price Less Than Average Market Price Of Common Shares [Member] | ||||
Antidilutive securities (in shares) | 4,901,932 | 7,254,943 | 4,901,932 | 7,254,943 |
Exercise Price Greater Than Average Market Price Of Common Shares [Member] | ||||
Antidilutive securities (in shares) | 0 | 3,919,288 | 0 | 3,887,731 |
Share-based Payment Arrangement, Option [Member] | Exercise Price Less Than Average Market Price Of Common Shares [Member] | ||||
Antidilutive securities (in shares) | 212,545 | 1,603,054 | 212,545 | 1,603,054 |
Share-based Payment Arrangement, Option [Member] | Exercise Price Greater Than Average Market Price Of Common Shares [Member] | ||||
Antidilutive securities (in shares) | 0 | 1,326 | 0 | 748 |
Warrant [Member] | Exercise Price Less Than Average Market Price Of Common Shares [Member] | ||||
Antidilutive securities (in shares) | 4,689,387 | 5,651,889 | 4,689,387 | 5,651,889 |
Warrant [Member] | Exercise Price Greater Than Average Market Price Of Common Shares [Member] | ||||
Antidilutive securities (in shares) | 0 | 80,797 | 0 | 49,818 |
Convertible Debt Securities [Member] | Exercise Price Greater Than Average Market Price Of Common Shares [Member] | ||||
Antidilutive securities (in shares) | 0 | 3,837,165 | 0 | 3,837,165 |
Note 17 - Stockholders' Equity
Note 17 - Stockholders' Equity (Details Textual) | Nov. 20, 2020 | Mar. 30, 2020USD ($)$ / sharesshares | Sep. 23, 2015USD ($)$ / sharesshares | Jun. 30, 2021USD ($)$ / sharesshares | Mar. 31, 2021USD ($)shares | Jun. 30, 2020USD ($)shares | Jun. 30, 2021USD ($)$ / sharesshares | Jun. 30, 2020USD ($)shares |
Preferred Stock, Shares Authorized (in shares) | 5,000,000 | 5,000,000 | ||||||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ / shares | $ 1 | $ 1 | ||||||
Stock Issued During Period, Shares, Warrants Exercises (in shares) | 121,500 | |||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 12 | $ 28.80 | ||||||
Proceeds from Warrant Exercises | $ | $ 1,458,000 | $ 0 | $ 1,458,000 | |||||
Share-based Payment Arrangement, Expense | $ | $ 41,123 | $ 142,839 | $ 182,271 | $ 655,558 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $ | $ 5,505 | $ 7,510 | $ 15,007 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercises in Period (in shares) | 0 | 0 | 0 | 0 | ||||
Class of Warrant or Right, Issued During Period (in shares) | 0 | 0 | ||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 8,681 | |||||||
Dividends, Paid-in-kind, Total | $ | $ 41,688 | $ 0 | $ 0 | $ 0 | $ 112,686 | |||
Referral Fee Warrants [Member] | ||||||||
Class of Warrant or Right, Issued During Period (in shares) | 94,655 | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 125,000 | 125,000 | ||||||
September 2015 Warrants [Member] | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 5.20 | |||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 48,078 | |||||||
Warrants and Rights Outstanding, Term (Year) | 5 years | |||||||
Common Stock [Member] | ||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares) | 1,250 | 1,250 | ||||||
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited (in shares) | 1,250 | |||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 1,748 | 2,091 | 2,143 | |||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $ | $ 0 | $ 0 | $ 1 | |||||
Director [Member] | Common Stock [Member] | ||||||||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 1,748 | 2,143 | 3,839 | 2,143 | ||||
Shares Issued, Value, Share-based Payment Arrangement, after Forfeiture, Total | $ | $ 5,505 | $ 15,007 | $ 13,015 | $ 15,007 | ||||
Restricted Stock [Member] | ||||||||
Stock Issued During Period, Shares, Restricted Stock Award, Net of Forfeitures, Total (in shares) | 2,500 | |||||||
Stock Issued During Period, Shares, Restricted Stock Award, Forfeited (in shares) | 1,250 | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Value | $ | $ 8,425 | |||||||
Share-based Payment Arrangement, Expense | $ | $ 16,346 | $ 0 | $ 33,721 | $ 0 | ||||
Reverse Stock Split [Member] | ||||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 8 |
Note 19 - Major Customers and_2
Note 19 - Major Customers and Accounts Receivable (Details Textual) - Customer Concentration Risk [Member] | 3 Months Ended | 6 Months Ended | 12 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Dec. 31, 2020 | |
Revenue Benchmark [Member] | |||||
Concentration Risk, Number of Major Customers | 2 | 1 | 2 | 3 | |
Revenue Benchmark [Member] | Two Customers [Member] | |||||
Concentration Risk, Percentage | 36.00% | ||||
Revenue Benchmark [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 41.00% | 34.00% | |||
Revenue Benchmark [Member] | Three Customers [Member] | |||||
Concentration Risk, Percentage | 60.00% | ||||
Current Accounts Receivable [Member] | |||||
Concentration Risk, Number of Major Customers | 2 | 1 | |||
Current Accounts Receivable [Member] | Two Customers [Member] | |||||
Concentration Risk, Percentage | 19.00% | ||||
Current Accounts Receivable [Member] | One Customer [Member] | |||||
Concentration Risk, Percentage | 47.00% | 31.00% |
Note 20 - Subsequent Events (De
Note 20 - Subsequent Events (Details Textual) - shares | Aug. 12, 2021 | Jun. 30, 2021 |
Restricted Stock [Member] | ||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |
Subsequent Event [Member] | Restricted Stock [Member] | Share-based Payment Arrangement, Employee [Member] | ||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 3,750 | |
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period (Year) | 3 years | |
Subsequent Event [Member] | Director [Member] | ||
Shares Issued, Shares, Share-based Payment Arrangement, after Forfeiture, Total (in shares) | 1,560 |