Superior Drilling Products (SDPI) 10-Q 12 May 21 2021 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2021	May 12, 2021
Cover [Abstract]
Entity Registrant Name	Superior Drilling Products, Inc.
Entity Central Index Key	0001600422
Document Type	10-Q
Document Period End Date	Mar. 31, 2021
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Reporting Status Current	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,762,342
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2021

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Current assets
Cash	$ 2,262,251	$ 1,961,441
Accounts receivable, net	1,601,837	1,345,622
Prepaid expenses	109,354	90,269
Inventories	996,083	1,020,008
Asset held for sale		40,000
Other current assets	42,751	40,620
Total current assets	5,012,276	4,497,960
Property, plant and equipment, net	7,211,648	7,535,098
Intangible assets, net	527,778	819,444
Right of use assets	65,624	99,831
Other noncurrent assets	84,115	87,490
Total assets	12,901,441	13,039,823
Current liabilities
Accounts payable	741,727	430,014
Accrued expenses	1,468,257	1,091,519
Income tax payable	122,826	106,446
Current portion of operating lease liability	54,063	79,313
Current portion of financial obligation	59,420	61,691
Current portion of long-term debt, net of discounts	1,651,283	1,397,337
Total current liabilities	4,097,576	3,166,320
Operating lease liability	11,561	20,518
Long-term financial obligation, less current portion	4,161,463	4,178,261
Long-term debt, less current portion, net of discounts	1,341,487	1,451,049
Total liabilities	9,612,087	8,816,148
Commitments and contingencies (Notes 8, 9 and 12)
Shareholders' equity
Common stock - $0.001 par value; 100,000,000 shares authorized; 25,762,342 shares issued and outstanding	25,762	25,762
Additional paid-in-capital	40,787,092	40,619,620
Accumulated deficit	(37,523,500)	(36,421,707)
Total shareholders' equity	3,289,354	4,223,675
Total liabilities and shareholders' equity	$ 12,901,441	$ 13,039,823

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	25,762,342	25,762,342
Common stock, shares outstanding	25,762,342	25,762,342

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Revenue
Total Revenue	$ 2,424,653	$ 5,357,763
Operating costs and expenses
Cost of revenue	1,175,593	2,314,508
Selling, general and administrative expenses	1,515,590	2,017,899
Depreciation and amortization expense	690,074	760,764
Total operating costs and expenses	3,381,257	5,093,171
Operating income (loss)	(956,604)	264,592
Other income (expense)
Interest income	48	4,688
Interest expense	(138,057)	(177,258)
Impairment on asset held for sale		(30,000)
Gain on sale of assets	10,000	142,234
Total other expense	(128,009)	(60,336)
Income (loss) before income taxes	(1,084,613)	204,256
Income tax expense	(17,180)	(6,210)
Net income (loss)	$ (1,101,793)	$ 198,046
Basic income (loss) earnings per common share	$ (0.04)	$ 0.01
Basic weighted average common shares outstanding	25,762,342	25,418,126
Diluted income (loss) per common share	$ (0.04)	$ 0.01
Diluted weighted average common shares outstanding	25,762,342	25,418,126
Tool Revenue [Member]
Revenue
Total Revenue	$ 1,663,763	$ 3,612,918
Contract Services [Member]
Revenue
Total Revenue	$ 760,890	$ 1,744,845

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Cash Flows From Operating Activities
Net income (loss)	$ (1,101,793)	$ 198,046
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization expense	690,074	760,764
Share based compensation expense	167,472	106,996
Gain on sale of assets	(10,000)	(142,234)
Impairment on asset held for sale		30,000
Amortization of deferred loan costs	4,631	4,631
Changes in operating assets and liabilities:
Accounts receivable	(256,215)	625,419
Inventories	(41,795)	(303,122)
Prepaid expenses and other noncurrent assets	(17,841)	296,392
Accounts payable and accrued expenses	688,451	660,731
Income tax payable	16,380	6,210
Other long term liabilities		(61,421)
Net Cash Provided By Operating Activities	139,363	2,182,412
Cash Flows From Investing Activities
Purchases of property, plant and equipment	(9,236)	(37,850)
Proceeds from sale of fixed assets	50,000	117,833
Net Cash Provided By Investing Activities	40,764	79,983
Cash Flows From Financing Activities
Principal payments on debt	(135,403)	(975,440)
Proceeds received from debt borrowings		72,520
Payments on revolving loan	(280,245)	(39,461)
Proceeds received on revolving loan	536,331	812,224
Debt issuance costs
Net Cash Provided By (Used In) Financing Activities	120,683	(130,157)
Net increase in Cash	300,810	2,132,238
Cash at Beginning of Period	1,961,441	1,217,014
Cash at End of Period	2,262,251	3,349,252
Supplemental information:
Cash paid for Interest	130,363	182,368
Inventory converted to property, plant and equipment	65,720	47,907
Reduction of debt with sale of asset		$ 211,667

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Organization and Nature of Operations Superior Drilling Products, Inc. (the “Company”, “SDPI”, “we”, “our” or “us”) is an innovative drilling and completion tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. Our headquarters and manufacturing operations are located in Vernal, Utah. Our drilling solutions include the patented Drill-N-Ream® well bore conditioning tool (“Drill-N-Ream tool”) and the patented Strider™ Drill String Oscillation System technology (“Strider technology” or “Strider”). In addition, the Company is a manufacturer and refurbisher of PDC (polycrystalline diamond compact) drill bits for a leading oil field services company. We operate a state-of-the-art drill tool fabrication facility, where we manufacture solutions for the drilling industry, as well as customers’ custom products. Our subsidiaries include (a) Superior Drilling Solutions, LLC (previously known as Superior Drilling Products, LLC), a Utah limited liability company (“SDS”), together with its wholly owned subsidiary Superior Design and Fabrication, LLC, a Utah limited liability company (“SDF”), (b) Extreme Technologies, LLC, a Utah limited liability company (“ET”), (c) Meier Properties Series, LLC, a Utah limited liability company (“MPS”), (d) Meier Leasing, LLC, a Utah limited liability company (“ML”), and (e) Hard Rock Solutions, LLC (“HR” or “Hard Rock”). Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The consolidated financial statements include the accounts of Superior Drilling Products Inc. and all of its wholly-owned subsidiaries. All significant intercompany accounts have been eliminated in consolidation. The Company does not have investments in any unconsolidated subsidiaries. Unaudited Interim Financial Presentation These interim consolidated condensed financial statements for the three months ended March 31, 2021 and 2020, and the related footnote disclosures included herein, are unaudited. However, in the opinion of management, these unaudited interim financial statements have been prepared on the same basis as the audited financial statements, and reflect all adjustments necessary to fairly state the results for such periods. The results of operations for the three months ended March 31, 2021 are not necessarily indicative of the results of operations expected for the year ending December 31, 2021. These interim consolidated condensed financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the years ended December 31, 2020 and 2019 and the notes thereto, which were included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (the “SEC”). Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could differ from those estimates. Significant items subject to estimates and assumptions include the carrying amount and useful lives of property and equipment and intangible assets, impairment assessments, share-based compensation expense, and valuation allowances for accounts receivable, inventories, and deferred tax assets. Concentrations of Credit Risk The Company has two significant customers that represented 85% and 84% of our revenue for the three months ended March 31, 2021 and 2020, respectively. These customers had approximately $846,000 and $2,120,000 in accounts receivable at March 31, 2021 and 2020, respectively. The Company had two vendors that represented 22% of our purchases for the quarter ended March 31, 2021. These vendors had approximately $221,000 in accounts payable at March 31, 2021 and purchases in the first quarter of 2021 from these vendors totaled approximately $239,000. The Company had two vendors that represented 26% of our purchases for the three months ended March 31, 2020. The vendors had approximately $454,000 in accounts payable at March 31, 2020 and purchases in the first quarter of 2020 from these vendors totaled approximately $524,000. Impact of COVID-19 The COVID-19 pandemic has impacted and may further impact the Company’s operations, and the operations of the Company’s suppliers and vendors, as a result of quarantines, facility closures, and travel and logistics restrictions. The extent to which the COVID-19 pandemic will continue to impact the Company’s business, financial condition and results of operations will depend on future developments, which are highly uncertain and depend on, among other things, the duration, spread, severity, and impact of the COVID-19 pandemic and the success and speed of vaccination efforts both in the United States and globally, the effects of the COVID-19 pandemic on the Company’s customers, suppliers, and vendors and the remedial actions and stimulus measures adopted by local and federal governments, and to what extent normal economic and operating conditions can resume. Therefore, the Company cannot reasonably estimate future impacts of the COVID-19 pandemic at this time. Uncertain Tax Matters The Company believes it has appropriately accrued for the expected outcome of uncertain tax matters and believes such liabilities represent a reasonable provision for taxes ultimately expected to be paid; however, these liabilities may need to be adjusted as new information becomes known and as tax examinations continue to progress, or as settlements or litigations occur. Recent Accounting Pronouncements There are no recently issued accounting pronouncements that we have not yet adopted that we believe will have a material effect on our financial statements.

Liquidity

Liquidity	3 Months Ended
	Mar. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Liquidity	NOTE 2. LIQUIDITY We believe that our cash generated from operations and our borrowing capacity under our current credit facility will be sufficient to fund our operations for the next 12 months. To enhance liquidity, our operational and financial strategies include managing our operating costs, accelerating collections of international receivables, and reducing working capital requirements and restructuring our debt. If we are unable to do this, we may not be able to, among other things, (i) maintain our revised general and administrative spending levels; (ii) fund certain obligations as they become due; and (iii) respond to competitive pressures or unanticipated capital requirements. COVID-19 has also led to a significant disruption in the equity and debt capital markets, which could hinder our ability to raise new capital or obtain financing on acceptable terms. We cannot provide any assurance that financing will be available to us in the future on acceptable terms, if at all. In 2020, the Company filed a Form S-3 Shelf Registration that will allow the Company to offer and sell, from time to time, up to $20,000,000 of securities. We believe maintaining an active Shelf Registration provides additional financial flexibility to access the capital markets. However, there is no assurance that such financings could be consummated on acceptable terms or at all. Also in 2020, the Company received notification from the NYSE American to the Company indicating that, as a result of the Company’s stockholders’ equity of $4.7 million as of September 30, 2020, and reported losses for each of the last five fiscal years, the Company was not in compliance with the stockholders’ equity standards for continued listing on the NYSE American. On January 28, 2021, the Company received notice that the NYSE American had accepted the Company’s plan that was submitted on December 18, 2020, to regain compliance with the continued listing standards of the NYSE American. The Company has been granted a plan period through May 18, 2022 to regain compliance. NYSE American Regulations staff will review the Company periodically for compliance with the initiatives outlined in the plan. If the Company is not in compliance with the continued listing standards by May 18, 2022 or if the Company does not make progress consistent with the plan during the plan period, NYSE Regulation staff may initiate delisting proceedings as appropriate.

Revenue

Revenue	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue	NOTE 3. REVENUE Our revenue is derived from short-term contracts. Revenue is recognized when we satisfy a performance obligation by transferring control of the promised goods or services to our customers at a point in time, in an amount that reflects the consideration the Company expects to be entitled to in exchange for those goods or services. We also assess our customer’s ability and intention to pay, which is based on a variety of factors including our customer’s historical payment experience and financial condition. Payment terms and conditions vary, although terms generally include a requirement of payment within 30 days. Revenue generally does not include right of return or other significant post-delivery obligations. Revenue is recognized net of any taxes collected from customers, which are subsequently remitted to governmental authorities. We elected to treat shipping and handling costs as a fulfillment cost instead of as a separate performance obligation. We recognize the cost for shipping and handling when incurred as an expense in cost of sales. Performance Obligations A performance obligation is a promise in a contract to transfer a distinct good or service to the customer under Topic 606. A contract’s transaction price is allocated to each distinct performance obligation and recognized as revenue when, or as, the performance obligation is satisfied. The majority of our contracts with customers contain a single performance obligation to provide agreed-upon products or services. For contracts with multiple performance obligations, we allocate revenue to each performance obligation based on its relative standalone selling price. In accordance with Topic 606, we do not assess whether promised goods or services are performance obligations if they are immaterial in the context of the contract with the customer. All of our contracts are less than one year in duration. We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed. Disaggregation of Revenue Approximately 86% of our revenue is from North America and approximately 14% is from the Middle East for the three months ended March 31, 2021. For the three months ended March 31, 2020, approximately 85% of our revenue was from North America and approximately 15% was from the Middle East. Revenue disaggregated by revenue source are as follows: Three months ended March 31, 2021 2020 Tool Revenue: Tool and product sales $ 495,000 $ 990,734 Tool rental 336,453 777,253 Other related revenue 832,310 1,844,931 Total Tool Revenue 1,663,763 3,612,918 Contract Services 760,890 1,744,845 Total Revenue $ 2,424,653 $ 5,357,763 Contract Costs We do not incur any material costs of obtaining contracts. Contract Balances Under our sales contracts, we invoice customers after our performance obligations have been satisfied, at which point payment is unconditional. Accordingly, our contracts do not give rise to contract assets or liabilities under Topic 606.

Inventories

Inventories	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Inventories	NOTE 4. INVENTORIES Inventories are comprised of the following: March 31, 2021 December 31, 2020 Raw material $ 734,215 $ 733,734 Work in progress 99,261 50,631 Finished goods 162,607 235,643 $ 996,083 $ 1,020,008

Property, Plant and Equipment

Property, Plant and Equipment	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment	NOTE 5. PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are comprised of the following: March 31, 2021 December 31, 2020 Land $ 880,416 $ 880,416 Buildings 4,764,441 4,764,441 Building improvements 755,039 755,039 Machinery and equipment 11,373,601 11,298,642 Office equipment, fixtures and software 628,358 628,358 Transportation assets 265,760 265,760 18,667,615 18,592,656 Accumulated depreciation (11,455,967 ) (11,057,558 ) $ 7,211,648 $ 7,535,098 In 2019, the Company decided to sell the Company airplane and related hangar and reported the assets as assets held for sale on our balance sheet at their carrying value, which is lower than the expected fair value less costs to sell. The Company sold the airplane for a gain of approximately $142,000 in February 2020 and the Company sold the hangar for a gain of $10,000 in March 2021. Depreciation expense related to property, plant and equipment for the three months ended March 31, 2021 and 2020 was $398,408 and $469,098, respectively. The increase in machinery and equipment was mostly the result of the Company’s increased rental tool fleet for the Middle East operations.

Intangible Assets

Intangible Assets	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	NOTE 6. INTANGIBLE ASSETS Intangible assets are comprised of the following: March 31, 2021 December 31, 2020 Developed technology $ 7,000,000 $ 7,000,000 Customer contracts 6,400,000 6,400,000 Trademarks 1,500,000 1,500,000 14,900,000 14,900,000 Accumulated amortization (14,372,222 ) (14,080,556 ) $ 527,778 $ 819,444 Amortization expense related to intangible assets was $291,666 for the three months ended March 31, 2021 and 2020.

Related Party Note Receivable

Related Party Note Receivable	3 Months Ended
	Mar. 31, 2021
Receivables [Abstract]
Related Party Note Receivable	NOTE 7. RELATED PARTY NOTE RECEIVABLE In January 2014, we entered into a Note Purchase and Sale Agreement under which we agreed to purchase a loan made to Tronco Energy Corporation (“Tronco”), a party related to us through common control, in order to take over the legal position as Tronco’ s senior secured lender. Tronco is an entity owned by Troy and Annette Meier. Effective August 2017, the Company fully reserved the related party note receivable of $6,979,043, which reduced the related party note receivable balance to $0. The Company continues to hold the 8,267,860 shares of the Company’s common stock as collateral. The Company will record a recovery of the loan if and when consideration or payments of the loan are made in the future. On July 7, 2020, the Company entered into an amended and restated loan agreement and note with Tronco changing the payment terms on the note. As amended, the interest rate on the note is fixed at 2% per annum. Interest only is due December 31, 2021, with a balloon payment of all unpaid interest and principal due upon maturity on December 31, 2022.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Long-Term Debt	NOTE 8. LONG-TERM DEBT Long-term debt is comprised of the following: March 31, 2021 December 31, 2020 Hard Rock Note $ 1,500,000 $ 1,500,000 Credit Agreement 1,002,749 825,366 Machinery loans 440,716 466,448 Transportation loans 49,305 56,572 2,992,770 2,848,386 Less: Current portion (1,651,283 ) (1,397,337 ) Long-term debt, net $ 1,341,487 $ 1,451,049 Hard Rock Note In 2014, the Company purchased all of the interests of Hard Rock Solutions, LLC (“Hard Rock”). Consideration consisted of $12.5 million paid in cash at closing and a $12.5 million seller’s note (the “Hard Rock Note”). The Hard Rock Note and subsequent amendments are secured by all of the patents, patents pending, other patent rights, and trademarks transferred to Hard Rock. The Hard Rock Note has a remaining balance of $1,500,000 as of March 31, 2021, accrues interest at 8.00% per annum and is due in full by October 5, 2022. Under the amended terms of the Hard Rock Note, we are required to make the following payments: accrued interest on January 5, April 5, July 5 and October 5 in 2021 and 2022; plus $750,000 in principal on July 5, 2021 with the remaining balance of principal and accrued interest on the Hard Rock Note due on October 5, 2022. In January and April 2021, the Company made interest payments of $30,247 and $29,589, respectively. Credit Agreement In February 2019, the Company entered into a Loan and Security Agreement (the “Credit Agreement”) with Austin Financial Services, Inc. (“AFS”). The Credit Agreement provides a $4,500,000 credit facility, which includes a $1,000,000 term loan (the “Term Loan”) and a $3,500,000 revolver (the “Revolving Loan”). As of March 31, 2021, we had $583,330 outstanding on the Term Loan and $454,925 outstanding on the Revolving Loan. Amounts outstanding under the Revolving Loan at any time may not exceed the sum of: (a) up to 85% of accounts receivable or such lesser percentage as AFS in its sole discretion may deem appropriate if it determines that there has been a material adverse effect (less a dilution reserve as determined by AFS in its sole good faith discretion), plus (b) the lesser of (i) up to 50% of inventory or such lesser percentage as AFS in its sole discretion may deem appropriate if it determines that there has been a material adverse effect, or (ii) the inventory sublimit, minus (c) the borrowing base reserve as may be determined from time to time by AFS. Amounts outstanding on the Revolving Loan as of March 31, 2021, may not exceed $456,428, which is based on a calculation applying 85% of accounts receivable and 50% of inventory. A collateral management fee is payable monthly on the used portion of the Revolving Loan and Term Loan. Even if our borrowings are less than $1,000,000, we still pay interest as if we had borrowed $1,000,000. At March 31, 2021, we had approximately $10,000 of accrued interest. The Credit Agreement contains various restrictive covenants that, among other things, limit or restrict the ability of the Company to incur additional indebtedness; incur additional liens; make dividends and other restricted payments; make investments; engage in mergers, acquisitions and dispositions; make optional prepayments of other indebtedness; engage in transactions with affiliates; and enter into restrictive agreements. The Credit Agreement does not include any financial covenants. If an event of default occurs, the lenders are entitled to accelerate the advances made thereunder and exercise rights against the collateral. Borrowing under the Revolving Loan is classified as current debt as a result of the required lockbox arrangement and the subjective acceleration clause. At March 31, 2021, we were in compliance with the covenants in the Credit Agreement. The interest rate for the Term Loan and the Revolving Loan is prime plus 2%. At March 31, 2021, the interest rate for the Term Loan was 8.85%, which includes a 3.6% management fee rate. The effective interest rate for the Revolving Loan for the quarter ending March 31, 2021 was 9.56%. The obligations of the Company under the Credit Agreement are secured by a security interest in substantially all of the tangible and intangible assets of the Company, other than any assets owned by the Company that constitute real property (and fixtures affixed to such real property), certain excluded equipment, intellectual property, or aircraft. The Credit Agreement matures on February 20, 2023, subject to early termination pursuant to the terms of the agreement or extension as may be agreed by the parties.

Financing Obligation

Financing Obligation	3 Months Ended
	Mar. 31, 2021
Financing Obligation
Financing Obligation	NOTE 9. FINANCING OBLIGATION On December 7, 2020, the Company entered into a sale agreement (the “Sale Agreement”). Pursuant to the terms of the Sale Agreement, the Company sold land and property related to the Company’s headquarters and manufacturing facility in Vernal, Utah (the “Property”) for a purchase price of $4,448,500. Concurrent with the sale of the Property, the Company entered into a fifteen-year lease agreement (the “Lease Agreement”), whereby the Company will lease back the Property at an annual rate of $311,395 with payments made monthly, subject to annual rent increases of 1.5%. Under the Lease Agreement, the Company has an option to extend the term of the lease and to repurchase the Property. Due to this repurchase option, the Company was unable to account for the transfer as a sale under ASC Topic 842, Leases The Company received cash of $1,622,106, retired real estate debt of $2,638,773 and recorded a financing obligation liability of $4,260,879 related to the transaction. There was no gain recorded since sale accounting was precluded. The financing obligation has an implied interest rate of 6.0%. At the conclusion of the fifteen-year lease period, the financing obligation residual will be $2,160,242, which will correspond to the carrying value of the property. The Company paid $25,950 of principal in 2020 that was prorated for the month of December. The financing obligation is summarized below: March 31, 2021 December 31, 2020 Finance obligations for sale-leaseback transactions $ 4,220,883 $ 4,239,952 Current principal portion of finance obligation (59,420 ) (61,691 ) Non-current portion of finance obligation $ 4,161,463 $ 4,178,261

Total Equity

Total Equity	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Total Equity	NOTE 10. TOTAL EQUITY A summary of changes in total equity for the three months ended March 31, 2021 and 2020 is presented below: Common Stock Additional Accumulated Total Shares Par Value Capital Deficit Equity Balance - December 31, 2020 25,762,342 $ 25,762 $ 40,619,620 $ (36,421,707 ) $ 4,223,675 Stock-based compensation expense - - 167,472 - 167,472 Net loss - - - (1,101,793 ) (1,101,793 ) Balance - March 31, 2021 25,762,342 $ 25,762 $ 40,787,092 $ (37,523,500 ) $ 3,289,354 Common Stock Additional Accumulated Total Shares Par Value Capital Deficit Equity Balance - December 31, 2019 25,418,126 $ 25,418 $ 40,069,391 $ (32,991,833 ) $ 7,102,976 Stock-based compensation expense - - 106,996 - 106,996 Net income - - - 198,046 198,046 Balance - March 31, 2020 25,418,126 $ 25,418 $ 40,176,387 $ (32,793,787 ) $ 7,408,018

Geographical Operations Informa

Geographical Operations Information	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Geographical Operations Information	NOTE 11. GEOGRAPHICAL OPERATIONS INFORMATION The following summarizes revenue by geographic location: Three months ended March 31, 2021 Three months ended March 31, 2020 Revenue: North America $ 2,092,200 $ 4,580,510 Middle East 332,453 777,253 $ 2,424,653 $ 5,357,763 The following summarizes net property, plant and equipment by geographic location: March 31, 2021 December 31, 2020 Property, plant and equipment, net: North America $ 5,975,625 $ 6,008,431 Middle East 1,236,023 1,526,667 $ 7,211,648 $ 7,535,098

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	NOTE 12. COMMITMENTS AND CONTINGENCIES We are subject to litigation that arises from time to time in the ordinary course of our business activities. In February 2019, the Company filed a patent infringement lawsuit in the United States District Court for the Western District of Louisiana Lafayette Division asserting Stabil Drill Specialties, LLC (“Stabil Drill”) infringed on our patent that covers the Company’s well bore conditioning tool, the Drill-N-Ream. The lawsuit was subsequently moved from Louisiana to the United States District Court for the Southern District of Texas, Houston Division. Additionally, on May 20, 2019, Extreme Technologies, LLC sued Short Bit & Tool Co. and Lot William Short, Jr. (“Defendants”) in the Northern District of Texas - Dallas Division. Extreme sued for patent infringement based on the same patents discussed in the Stabil Drill litigation. On December 23, 2019, the Court stayed Extreme’s patent infringement claim against Defendants pending resolution of the Southern District of Texas Stabil Drill case. The court ordered the Company to serve discovery requests upon Stabil Drill and gave Stabil Drill deadlines to respond and produce documents and permit product inspection. Stabil Drill filed a motion for summary judgement and the Company responded and cross-moved for patent infringement. The parties are awaiting the judge’s decision. On October 1, 2020, Superior Energy Services, Stabil Drill’s parent company, filed for bankruptcy, which may result in a delay in the resolution of this litigation. Superior Energy Services announced on February 2, 2021 that it successfully completed its financial restructuring and emerged from Chapter 11 bankruptcy. We are not currently involved in any other litigation which management believes could have a material effect on our financial position or results of operations.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2021
Accounting Policies [Abstract]
Organization and Nature of Operations	Organization and Nature of Operations Superior Drilling Products, Inc. (the “Company”, “SDPI”, “we”, “our” or “us”) is an innovative drilling and completion tool technology company providing cost saving solutions that drive production efficiencies for the oil and natural gas drilling industry. Our headquarters and manufacturing operations are located in Vernal, Utah. Our drilling solutions include the patented Drill-N-Ream® well bore conditioning tool (“Drill-N-Ream tool”) and the patented Strider™ Drill String Oscillation System technology (“Strider technology” or “Strider”). In addition, the Company is a manufacturer and refurbisher of PDC (polycrystalline diamond compact) drill bits for a leading oil field services company. We operate a state-of-the-art drill tool fabrication facility, where we manufacture solutions for the drilling industry, as well as customers’ custom products. Our subsidiaries include (a) Superior Drilling Solutions, LLC (previously known as Superior Drilling Products, LLC), a Utah limited liability company (“SDS”), together with its wholly owned subsidiary Superior Design and Fabrication, LLC, a Utah limited liability company (“SDF”), (b) Extreme Technologies, LLC, a Utah limited liability company (“ET”), (c) Meier Properties Series, LLC, a Utah limited liability company (“MPS”), (d) Meier Leasing, LLC, a Utah limited liability company (“ML”), and (e) Hard Rock Solutions, LLC (“HR” or “Hard Rock”).
Basis of Presentation	Basis of Presentation The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The consolidated financial statements include the accounts of Superior Drilling Products Inc. and all of its wholly-owned subsidiaries. All significant intercompany accounts have been eliminated in consolidation. The Company does not have investments in any unconsolidated subsidiaries.
Unaudited Interim Financial Presentation	Unaudited Interim Financial Presentation These interim consolidated condensed financial statements for the three months ended March 31, 2021 and 2020, and the related footnote disclosures included herein, are unaudited. However, in the opinion of management, these unaudited interim financial statements have been prepared on the same basis as the audited financial statements, and reflect all adjustments necessary to fairly state the results for such periods. The results of operations for the three months ended March 31, 2021 are not necessarily indicative of the results of operations expected for the year ending December 31, 2021. These interim consolidated condensed financial statements should be read in conjunction with the audited consolidated financial statements of the Company for the years ended December 31, 2020 and 2019 and the notes thereto, which were included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (the “SEC”).
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could differ from those estimates. Significant items subject to estimates and assumptions include the carrying amount and useful lives of property and equipment and intangible assets, impairment assessments, share-based compensation expense, and valuation allowances for accounts receivable, inventories, and deferred tax assets.
Concentrations of Credit Risk	Concentrations of Credit Risk The Company has two significant customers that represented 85% and 84% of our revenue for the three months ended March 31, 2021 and 2020, respectively. These customers had approximately $846,000 and $2,120,000 in accounts receivable at March 31, 2021 and 2020, respectively. The Company had two vendors that represented 22% of our purchases for the quarter ended March 31, 2021. These vendors had approximately $221,000 in accounts payable at March 31, 2021 and purchases in the first quarter of 2021 from these vendors totaled approximately $239,000. The Company had two vendors that represented 26% of our purchases for the three months ended March 31, 2020. The vendors had approximately $454,000 in accounts payable at March 31, 2020 and purchases in the first quarter of 2020 from these vendors totaled approximately $524,000.
Impact of COVID-19	Impact of COVID-19 The COVID-19 pandemic has impacted and may further impact the Company’s operations, and the operations of the Company’s suppliers and vendors, as a result of quarantines, facility closures, and travel and logistics restrictions. The extent to which the COVID-19 pandemic will continue to impact the Company’s business, financial condition and results of operations will depend on future developments, which are highly uncertain and depend on, among other things, the duration, spread, severity, and impact of the COVID-19 pandemic and the success and speed of vaccination efforts both in the United States and globally, the effects of the COVID-19 pandemic on the Company’s customers, suppliers, and vendors and the remedial actions and stimulus measures adopted by local and federal governments, and to what extent normal economic and operating conditions can resume. Therefore, the Company cannot reasonably estimate future impacts of the COVID-19 pandemic at this time.
Uncertain Tax Matters	Uncertain Tax Matters The Company believes it has appropriately accrued for the expected outcome of uncertain tax matters and believes such liabilities represent a reasonable provision for taxes ultimately expected to be paid; however, these liabilities may need to be adjusted as new information becomes known and as tax examinations continue to progress, or as settlements or litigations occur.
Recent Accounting Pronouncements	Recent Accounting Pronouncements There are no recently issued accounting pronouncements that we have not yet adopted that we believe will have a material effect on our financial statements.

Revenue (Tables)

Revenue (Tables)	3 Months Ended
	Mar. 31, 2021
Revenue from Contract with Customer [Abstract]
Schedule of Revenue Disaggregated by Revenue	Revenue disaggregated by revenue source are as follows: Three months ended March 31, 2021 2020 Tool Revenue: Tool and product sales $ 495,000 $ 990,734 Tool rental 336,453 777,253 Other related revenue 832,310 1,844,931 Total Tool Revenue 1,663,763 3,612,918 Contract Services 760,890 1,744,845 Total Revenue $ 2,424,653 $ 5,357,763

Inventories (Tables)

Inventories (Tables)	3 Months Ended
	Mar. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventories	Inventories are comprised of the following: March 31, 2021 December 31, 2020 Raw material $ 734,215 $ 733,734 Work in progress 99,261 50,631 Finished goods 162,607 235,643 $ 996,083 $ 1,020,008

Property, Plant and Equipment (

Property, Plant and Equipment (Tables)	3 Months Ended
	Mar. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment	Property, plant and equipment are comprised of the following: March 31, 2021 December 31, 2020 Land $ 880,416 $ 880,416 Buildings 4,764,441 4,764,441 Building improvements 755,039 755,039 Machinery and equipment 11,373,601 11,298,642 Office equipment, fixtures and software 628,358 628,358 Transportation assets 265,760 265,760 18,667,615 18,592,656 Accumulated depreciation (11,455,967 ) (11,057,558 ) $ 7,211,648 $ 7,535,098

Intangible Assets (Tables)

Intangible Assets (Tables)	3 Months Ended
	Mar. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Intangible Assets	Intangible assets are comprised of the following: March 31, 2021 December 31, 2020 Developed technology $ 7,000,000 $ 7,000,000 Customer contracts 6,400,000 6,400,000 Trademarks 1,500,000 1,500,000 14,900,000 14,900,000 Accumulated amortization (14,372,222 ) (14,080,556 ) $ 527,778 $ 819,444

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	Long-term debt is comprised of the following: March 31, 2021 December 31, 2020 Hard Rock Note $ 1,500,00 $ 1,500,000 Credit Agreement 1,002,749 825,366 Machinery loans 440,716 466,448 Transportation loans 49,305 56,572 2,992,770 2,848,386 Less: Current portion (1,651,283 ) (1,397,337 ) Long-term debt, net $ 1,341,487 $ 1,451,049

Financing Obligation (Tables)

Financing Obligation (Tables)	3 Months Ended
	Mar. 31, 2021
Financing Obligation
Schedule of Financing Obligation	The financing obligation is summarized below: March 31, 2021 December 31, 2020 Finance obligations for sale-leaseback transactions $ 4,220,883 $ 4,239,952 Current principal portion of finance obligation (59,420 ) (61,691 ) Non-current portion of finance obligation $ 4,161,463 $ 4,178,261

Total Equity (Tables)

Total Equity (Tables)	3 Months Ended
	Mar. 31, 2021
Equity [Abstract]
Summary of Changes in Total Equity	A summary of changes in total equity for the three months ended March 31, 2021 and 2020 is presented below: Common Stock Additional Accumulated Total Shares Par Value Capital Deficit Equity Balance - December 31, 2020 25,762,342 $ 25,762 $ 40,619,620 $ (36,421,707 ) $ 4,223,675 Stock-based compensation expense - - 167,472 - 167,472 Net loss - - - (1,101,793 ) (1,101,793 ) Balance - March 31, 2021 25,762,342 $ 25,762 $ 40,787,092 $ (37,523,500 ) $ 3,289,354 Common Stock Additional Accumulated Total Shares Par Value Capital Deficit Equity Balance - December 31, 2019 25,418,126 $ 25,418 $ 40,069,391 $ (32,991,833 ) $ 7,102,976 Stock-based compensation expense - - 106,996 - 106,996 Net income - - - 198,046 198,046 Balance - March 31, 2020 25,418,126 $ 25,418 $ 40,176,387 $ (32,793,787 ) $ 7,408,018

Geographical Operations Infor_2

Geographical Operations Information (Tables)	3 Months Ended
	Mar. 31, 2021
Segment Reporting [Abstract]
Schedule of Revenue and Property, Plant and Equipment by Geographic Location	The following summarizes revenue by geographic location: Three months ended March 31, 2021 Three months ended March 31, 2020 Revenue: North America $ 2,092,200 $ 4,580,510 Middle East 332,453 777,253 $ 2,424,653 $ 5,357,763 The following summarizes net property, plant and equipment by geographic location: March 31, 2021 December 31, 2020 Property, plant and equipment, net: North America $ 5,975,625 $ 6,008,431 Middle East 1,236,023 1,526,667 $ 7,211,648 $ 7,535,098

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Accounts receivable	$ 846,000	$ 2,120,000
Accounts payable	741,727		$ 430,014
Two Vendors [Member]
Accounts payable		454,000
Purchases from vendor		$ 524,000
One Vendor [Member]
Accounts payable	221,000
Purchases from vendor	$ 239,000
Customer Concentration Risk [Member] | Revenue [Member] | Two Customers [Member]
Concentration risk percentage	85.00%	84.00%
Supplier Concentration Risk [Member] | Purchases [Member] | Two Vendor [Member]
Concentration risk percentage	22.00%

Liquidity (Details Narrative)

Liquidity (Details Narrative) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Sep. 30, 2020
Subsequent Event [Line Items]
Shareholders' equity	$ 3,289,354	$ 4,223,675	$ 4,700,000
Maximum [Member]
Subsequent Event [Line Items]
Sale of securities		$ 20,000,000

Revenue (Details Narrative)

Revenue (Details Narrative)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Description of payment terms	All of our contracts are less than one year in duration. We do not disclose the value of unsatisfied performance obligations for (i) contracts with an original expected length of one year or less and (ii) contracts for which we recognize revenue at the amount to which we have the right to invoice for services performed.
Revenue [Member] | North America [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage of revenue	86.00%	85.00%
Revenue [Member] | Middle East [Member]
Disaggregation of Revenue [Line Items]
Concentration risk percentage of revenue	14.00%	15.00%

Revenue - Schedule of Revenue

Revenue - Schedule of Revenue Disaggregated by Revenue (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Disaggregation of Revenue [Line Items]
Total Revenue	$ 2,424,653	$ 5,357,763
Tools and Product Sales [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	495,000	990,734
Tool Rental [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	336,453	777,253
Other Related Revenue [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	832,310	1,844,931
Tool Revenue [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	1,663,763	3,612,918
Contract Services [Member]
Disaggregation of Revenue [Line Items]
Total Revenue	$ 760,890	$ 1,744,845

Inventories - Schedule of Inven

Inventories - Schedule of Inventories (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw material	$ 734,215	$ 733,734
Work in progress	99,261	50,631
Finished goods	162,607	235,643
Inventories, net	$ 996,083	$ 1,020,008

Property, Plant and Equipment_2

Property, Plant and Equipment (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended
	Mar. 31, 2021	Feb. 29, 2020	Mar. 31, 2021	Mar. 31, 2020
Property, Plant and Equipment [Abstract]
Gain on sale of airplane property	$ 10,000	$ 142,000
Depreciation expense related to property, plant and equipment			$ 398,408	$ 469,098

Property, Plant and Equipment -

Property, Plant and Equipment - Schedule of Property, Plant and Equipment (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Land	$ 880,416	$ 880,416
Buildings	4,764,441	4,764,441
Building improvements	755,039	755,039
Machinery and equipment	11,373,601	11,298,642
Office equipment, fixtures and software	628,358	628,358
Transportation assets	265,760	265,760
Property, plant and equipment, gross	18,667,615	18,592,656
Accumulated depreciation	(11,455,967)	(11,057,558)
Property, plant and equipment, net	$ 7,211,648	$ 7,535,098

Intangible Assets (Details Narr

Intangible Assets (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 291,666	$ 291,666
Impairment of intangible assets

Intangible Assets - Schedule of

Intangible Assets - Schedule of Intangible Assets (Details) - USD ($)	Mar. 31, 2021	Mar. 31, 2020
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 14,900,000	$ 14,900,000
Accumulated amortization	(14,372,222)	(14,080,556)
Intangible assets, net	527,778	819,444
Developed Technology [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	7,000,000	7,000,000
Customer Contracts [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	6,400,000	6,400,000
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Intangible assets, gross	$ 1,500,000	$ 1,500,000

Related Party Note Receivable (

Related Party Note Receivable (Details Narrative) - Tronco Energy Corporation [Member] - USD ($)	Aug. 31, 2017	Mar. 31, 2021	Jul. 07, 2020
Related party note receivable	$ 6,979,043
Debt instrument decrease	$ 0
Common stock hold as collateral	8,267,860
Debt maturity description		Interest only is due December 31, 2021, with a balloon payment of all unpaid interest and principal due upon maturity on December 31, 2022.
Debt interest rate			2.00%

Long-Term Debt (Details Narrati

Long-Term Debt (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Dec. 31, 2014	Mar. 31, 2021	Dec. 31, 2020	Feb. 28, 2019
Loan and Security Agreement [Member] | Term Loan and Revolving Loan [Member]
Debt Instrument [Line Items]
Line of credit interest rate		8.85%
Management fee rate, percentage		3.60%
Debt instrument interest rate effective percentage		9.56%
Debt instrument maturity date		Feb. 20, 2023
Loan and Security Agreement [Member] | Term Loan and Revolving Loan [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Line of credit interest rate		2.00%
Loan and Security Agreement [Member] | Austin Financial Services, Inc. [Member]
Debt Instrument [Line Items]
Long term line of credit				$ 4,500,000
Loan and Security Agreement [Member] | Austin Financial Services, Inc. [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Long term line of credit				1,000,000
Loan outstanding amount		$ 583,330
Loan and Security Agreement [Member] | Austin Financial Services, Inc. [Member] | Revolving Loan [Member]
Debt Instrument [Line Items]
Long term line of credit				$ 3,500,000
Loan outstanding amount		$ 454,925
Line of credit facility description		Amounts outstanding under the Revolving Loan at any time may not exceed the sum of: (a) up to 85% of accounts receivable or such lesser percentage as AFS in its sole discretion may deem appropriate if it determines that there has been a material adverse effect (less a dilution reserve as determined by AFS in its sole good faith discretion), plus (b) the lesser of (i) up to 50% of inventory or such lesser percentage as AFS in its sole discretion may deem appropriate if it determines that there has been a material adverse effect, or (ii) the inventory sublimit, minus (c) the borrowing base reserve as may be determined from time to time by AFS.
Current borrowing		$ 1,000,000	$ 1,000,000
Loan and Security Agreement [Member] | Austin Financial Services, Inc. [Member] | Revolving Loan One [Member]
Debt Instrument [Line Items]
Loan outstanding amount		$ 456,428
Line of credit facility description		Amounts outstanding on the Revolving Loan as of March 31, 2021, may not exceed $456,428, which is based on a calculation applying 85% of accounts receivable and 50% of inventory.
Credit Agreement [Member] | Revolving Loan [Member]
Debt Instrument [Line Items]
Accrued interest		$ 10,000
Hard Rock Note [Member]
Debt Instrument [Line Items]
Business combination, consideration transferred, liabilities incurred	$ 12,500,000
Payments to acquire businesses, gross	$ 12,500,000
Notes payable		$ 1,500,000
Hard Rock Note [Member] | July 5, 2021 [Member]
Debt Instrument [Line Items]
Principle payment term		The Hard Rock Note has a remaining balance of $1,500,000 as of March 31, 2021, accrues interest at 8.00% per annum and is due in full by October 5, 2022. Under the amended terms of the Hard Rock Note, we are required to make the following payments: accrued interest on January 5, April 5, July 5 and October 5 in 2021 and 2022; plus $750,000 in principal on July 5, 2021 with the remaining balance of principal and accrued interest on the Hard Rock Note due on October 5, 2022. In January and April 2021, the Company made interest payments of $30,247 and $29,589, respectively.
Principle payment		$ 750,000
Hard Rock Note [Member] | January 2021 [Member]
Debt Instrument [Line Items]
Interest payment		30,247
Hard Rock Note [Member] | April 2021 [Member]
Debt Instrument [Line Items]
Interest payment		$ 29,589

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt Instruments (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long term debt, Total	$ 2,992,770	$ 2,848,386
Current portion of long-term debt	(1,651,283)	(1,397,337)
Long-term debt, net	1,341,487	1,451,049
Hard Rock Note [Member]
Debt Instrument [Line Items]
Long term debt, Total	150,000	1,500,000
Credit Agreement [Member]
Debt Instrument [Line Items]
Long term debt, Total	1,002,749	825,366
Machinery Loans [Member]
Debt Instrument [Line Items]
Long term debt, Total	440,716	466,448
Transportation Loans [Member]
Debt Instrument [Line Items]
Long term debt, Total	$ 49,305	$ 56,572

Financing Obligation (Details N

Financing Obligation (Details Narrative) - USD ($)	Dec. 07, 2020	Mar. 31, 2021	Mar. 31, 2020
Purchase price		$ 9,236	$ 37,850
Net proceeds received		50,000	117,833
Sale Agreement [Member]
Purchase price		1,622,106
Real estate debt retired		$ 2,638,773
Sale Agreement [Member] | Vernal, Utaht [Member]
Purchase price	$ 4,448,500
Lease Agreement [Member]
Lease term	15 years
Lease back property, annual rate	$ 311,395
Annual rent increases	1.50%
Option to extend	true
Net proceeds received	$ 4,260,879
Implied interest rate	6.00%
Financing obligation residual amount	$ 2,160,242
Principal payments			$ 25,950

Financing Obligation - Schedule

Financing Obligation - Schedule of Financing Obligation (Details) - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Financing Obligation
Finance obligations for sale-leaseback transactions	$ 4,220,883	$ 4,239,952
Current principal portion of finance obligation	(59,420)	(61,691)
Non-current portion of finance obligation	$ 4,161,463	$ 4,178,261

Total Equity - Summary of Chang

Total Equity - Summary of Changes in Total Equity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020
Common Stock [Member]
Beginning balance	$ 25,762	$ 25,418
Beginning balance, shares	25,762,342	25,418,126
Stock-based compensation expense
Net income (loss)
Ending balance	$ 25,762	$ 25,418
Ending balance, shares	25,762,342	25,418,126
Additional Paid-in Capital [Member]
Beginning balance	$ 40,619,620	$ 40,069,391
Stock-based compensation expense	167,472	106,996
Net income (loss)
Ending balance	40,787,092	40,176,387
Accumulated Deficit [Member]
Beginning balance	(36,421,707)	(32,991,833)
Stock-based compensation expense
Net income (loss)	(1,101,793)	198,046
Ending balance	(37,523,500)	(32,793,787)
Total Shareholders Equity [Member]
Beginning balance	4,223,675	7,102,976
Stock-based compensation expense	167,472	106,996
Net income (loss)	(1,101,793)	198,046
Ending balance	$ 3,289,354	$ 7,408,018

Geographical Operations Infor_3

Geographical Operations Information - Schedule of Revenue and Property, Plant and Equipment by Geographic Location (Details) - USD ($)	3 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020
Revenue	$ 2,424,653	$ 5,357,763
Property, plant and equipment, net	7,211,648		$ 7,535,098
North America [Member]
Revenue	2,092,200	4,580,510
Property, plant and equipment, net	5,975,625		6,008,431
Middle East [Member]
Revenue	332,453	$ 777,253
Property, plant and equipment, net	$ 1,236,023		$ 1,526,667