Co-Diagnostics (CODX) 10-Q/A 3 Nov 20 2020 Q2 Quarterly report (amended) Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2020	Aug. 12, 2020
Cover [Abstract]
Entity Registrant Name	Co-Diagnostics, Inc.
Entity Central Index Key	0001692415
Document Type	10-Q/A
Document Period End Date	Jun. 30, 2020
Amendment Flag	true
Amendment Description	We are filing this Amendment No. 1 on Form 10Q/A ("Amended Report") to amend our Quarterly Report for the quarter ended June 30, 2020, that was originally filed with the U.S. Securities and Exchange Commission (the "SEC") on August 13, 2020 (the "Original Report"), to restate our condensed consolidated financial statements for the period ended June 30, 2020. Consequently, the previously filed unaudited condensed consolidated financial statements for the period ended June 30, 2020, should no longer be relied upon. In accordance with applicable SEC rules, this Amended Report also includes new certifications required by Sections 302 and 906 of the Sarbanes-Oxley Act of 2002, as amended, from our Chief Executive Officer ("CEO") and Chief Financial Officer ("CFO") dated November 3, 2020 10-Q as of the filing date of this Amended Report.
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		28,082,709
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2020

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($)	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018
Current assets
Cash and cash equivalents	$ 18,550,437		$ 893,138
Accounts receivable, net	5,349,876		131,382
Inventory	10,110,786		197,168
Prepaid expenses	2,890,549		362,566
Total current assets	36,901,648		1,584,254
Property and equipment, net	473,376		196,832
Investment in joint venture	1,416,480		434,240
Total assets	38,791,504		2,215,326
Current liabilities
Accounts payable	1,127,709		5,959
Accrued expenses	691,385		200,788
Accrued expenses (related party)	120,000		120,000
Deferred revenue	1,045,548		1,323
Total current liabilities	2,984,642		328,070
Accrued expenses-long-term (related party)	80,000		150,000
Total liabilities	3,064,642		478,070
Commitments and contingencies (Note 1)
Stockholders' equity
Convertible preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 and 25,600 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively			26
Common Stock, $0.001 par value; 100,000,000 shares authorized; 27,991,042 and 17,342,922 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively	27,991		17,343
Additional paid-in capital	46,726,869		26,687,701
Accumulated deficit	(11,027,998)		(24,967,814)
Total stockholders' equity	35,726,862	$ 19,166,943	1,737,256	$ 4,805,806	$ 5,563,832	$ (1,058,811)
Total liabilities and stockholders' equity	$ 38,791,504		$ 2,215,326

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2020	Mar. 02, 2020	Feb. 13, 2020	Jan. 28, 2020	Dec. 31, 2019	Feb. 04, 2019
Statement of Financial Position [Abstract]
Convertible preferred stock, par value	$ 0.001				$ 0.001
Convertible preferred stock , shares authorized	5,000,000				5,000,000
Convertible preferred stock, shares issued	0				25,600
Convertible preferred stock, shares outstanding	0				25,600
Common stock, par value	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000				100,000,000
Common stock, shares issued	27,991,042				17,342,922
Common stock, shares outstanding	27,991,042				17,342,922

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019
Income Statement [Abstract]
Net revenue	$ 24,040,274		$ 61,574		$ 25,588,802	$ 64,974
Cost of revenue	5,975,305		38,809		6,457,045	39,261
Gross profit	18,064,969		22,765		19,131,757	25,713
Operating expenses
Sales and marketing	390,191		252,076		658,674	508,179
Administrative and general	2,191,034		807,769		3,650,518	1,448,132
Research and development	750,249		312,590		1,150,271	659,896
Depreciation and amortization	25,218		16,094		45,966	29,762
Total operating expenses	3,356,692		1,388,529		5,505,429	2,645,969
Income (loss) from operations	14,708,277		(1,365,764)		13,626,328	(2,620,256)
Other income (expense)
Interest income	38,173		19,640		45,748	20,048
Interest expense						(106,427)
Gain on disposition of assets						850
Gain (loss) on equity method investment in joint venture	258,559		1,728		267,740	(7,000)
Total other income (expense)	296,732		21,368		313,488	(92,529)
Income (loss) before income taxes	15,005,009		(1,344,396)		13,939,816	(2,712,785)
Provision for income taxes
Net income (loss)	$ 15,005,009	$ (1,065,193)	$ (1,344,396)	$ (1,368,389)	$ 13,939,816	$ (2,712,785)
Net income (loss) per common share:
Basic	$ 0.54		$ (0.08)		$ 0.50	$ (0.16)
Diluted	$ 0.51		$ (0.08)		$ 0.48	$ (0.16)
Weighted average shares outstanding:
Basic	27,582,229		17,017,964		27,605,137	17,017,964
Diluted	29,152,222		17,017,964		29,094,475	17,017,964

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Cash flows from operating activities
Net income (loss)	$ 13,939,816	$ (2,712,785)
Adjustments to reconcile net income (loss) to cash used in operating activities:
Depreciation and amortization	45,966	29,762
Stock-based compensation expense	1,124,242	294,677
Accretion of notes payable discount		91,428
Gain on disposition of assets		(850)
Loss (gain) from equity method investment	(267,740)	7,000
Changes in assets and liabilities:
Accounts and other receivable	(5,218,494)	(42,065)
Prepaid and other assets	(2,527,983)	(183,446)
Inventory	(10,030,838)	9,920
Deffered revenue	1,044,225
Accounts payable and accrued expenses	1,542,347	(191,332)
Net cash used in operating activities	(348,459)	(2,697,691)
Cash flows from investing activities
Purchase of property and equipment	(205,290)	(52,775)
Investment in joint venture	(714,500)	(247,000)
Net cash used in investing activities	(919,790)	(299,775)
Cash flows from financing activities
Proceeds from sale of common stock	19,470,005	5,496,002
Proceeds from sale of preferred stock		1,000,000
Proceeds from exercise of options and warrants	913,465
Payment of offering costs	(1,457,922)	(592,764)
Net cash provided by financing activities	18,925,548	5,903,238
Net increase in cash and cash equivalents	17,657,299	2,905,772
Cash and cash equivalents at beginning of period	893,138	950,237
Cash and cash equivalents at end of period	18,550,437	3,856,009
Supplemental disclosure of cash flow information
Interest paid		15,000
Income taxes paid
Supplemental disclosure of non-cash investing and financing transactions
Inventory moved to property, plant and equipment	$ 117,220

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) - USD ($)	Convertible Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in-Capital [Member]	Accumulated Deficit	Total
Beginning balance at Dec. 31, 2018		$ 12,923	$ 17,622,433	$ (18,694,167)	$ (1,058,811)
Beginning balance, shares at Dec. 31, 2018		12,923,383
Public offering, net of offering costs		$ 3,926	4,899,312		4,903,238
Public offering, net of offering costs, shares		3,925,716
Stock-based compensation expense			87,794		87,794
Stock-based compensation expense, shares
Conversion of preferred stock to common	$ (2)	$ 167	(165)
Conversion of preferred stock to common, shares	(2,000)	166,667
Issuance of preferred stock	$ 30		2,999,970		3,000,000
Issuance of preferred stock, shares	30,000
Net Income (loss)				(1,368,389)	(1,368,389)
Ending balance at Mar. 31, 2019	$ 28	$ 17,016	25,609,344	(20,062,556)	5,563,832
Ending balance, shares at Mar. 31, 2019	28,000	170,015,766
Beginning balance at Dec. 31, 2018		$ 12,923	17,622,433	(18,694,167)	(1,058,811)
Beginning balance, shares at Dec. 31, 2018		12,923,383
Net Income (loss)					(2,712,785)
Ending balance at Jun. 30, 2019	$ 28	$ 17,116	26,195,614	(21,406,952)	4,805,806
Ending balance, shares at Jun. 30, 2019	28,000	17,115,766
Beginning balance at Mar. 31, 2019	$ 28	$ 17,016	25,609,344	(20,062,556)	5,563,832
Beginning balance, shares at Mar. 31, 2019	28,000	170,015,766
Stock-based compensation expense			505,970		505,970
Stock-based compensation expense, shares
Issuance of common stock for services		$ 100	80,300		80,400
Issuance of common stock for services, shares		100,000
Net Income (loss)				(1,344,396)	(1,344,396)
Ending balance at Jun. 30, 2019	$ 28	$ 17,116	26,195,614	(21,406,952)	4,805,806
Ending balance, shares at Jun. 30, 2019	28,000	17,115,766
Beginning balance at Dec. 31, 2019	$ 26	$ 17,343	26,687,701	(24,967,814)	1,737,256
Beginning balance, shares at Dec. 31, 2019	25,600	17,342,922
Public offering, net of offering costs		$ 7,243	18,004,840		18,012,083
Public offering, net of offering costs, shares		7,242,954
Issuance of common stock for warrant exercises		$ 720	49,280		50,000
Issuance of common stock for warrant exercises, shares		719,492
Stock-based compensation expense		$ 12	432,811		432,823
Stock-based compensation expense, shares		12,363
Conversion of preferred stock to common	$ (26)	$ 2,133	(2,107)
Conversion of preferred stock to common, shares	(25,600)	2,133,333
Net Income (loss)				(1,065,193)	(1,065,193)
Ending balance at Mar. 31, 2020		$ 27,451	45,172,525	(26,033,007)	19,166,943
Ending balance, shares at Mar. 31, 2020		27,451,064
Beginning balance at Dec. 31, 2019	$ 26	$ 17,343	26,687,701	(24,967,814)	1,737,256
Beginning balance, shares at Dec. 31, 2019	25,600	17,342,922
Net Income (loss)					13,939,816
Ending balance at Jun. 30, 2020		$ 27,991	46,726,869	(11,027,998)	35,726,862
Ending balance, shares at Jun. 30, 2020		27,991,042
Beginning balance at Mar. 31, 2020		$ 27,451	45,172,525	(26,033,007)	19,166,943
Beginning balance, shares at Mar. 31, 2020		27,451,064
Issuance of common stock for option and warrant exercises		$ 530	862,935		863,465
Issuance of common stock for option and warrant exercises, shares		530,289
Stock-based compensation expense		$ 10	691,409		691,419
Stock-based compensation expense, shares		9,689
Net Income (loss)				15,005,009	15,005,009
Ending balance at Jun. 30, 2020		$ 27,991	$ 46,726,869	$ (11,027,998)	$ 35,726,862
Ending balance, shares at Jun. 30, 2020		27,991,042

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Stockholders' Equity (Unaudited) (Parenthetical) - USD ($)	Mar. 31, 2020	Mar. 31, 2019
Statement of Stockholders' Equity [Abstract]
Public offering costs	$ 1,457,922	$ 592,764

Overview and Basis of Presentat

Overview and Basis of Presentation	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Overview and Basis of Presentation	NOTE 1 – OVERVIEW AND BASIS OF PRESENTATION The accompanying unaudited condensed consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America for interim financial information and with the instructions to Form 10-Q as they are prescribed for smaller reporting companies. Accordingly, they do not include all the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary to make the financial statements not misleading have been included. Operating results for the six and three-month periods ended June 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. These statements should be read in conjunction with the Company’s audited financial statements and related notes for the year ended December 31, 2019, included in the Company’s Annual Report on Form 10-K filed on March 30, 2020. Certain 2019 financial statement amounts have been reclassified to conform to 2020 presentations. Description of Business Co-Diagnostics, Inc., a Utah corporation (the “Company” or “CDI”), is developing robust and innovative molecular tools for detection of infectious diseases, liquid biopsy for cancer screening, and agricultural applications. We have developed and we manufacture and sell reagents used for diagnostic tests that function via the detection and/or analysis of nucleic acid molecules (DNA or RNA). In connection with the sale of our tests we may sell diagnostic equipment from other manufacturers as self-contained lab systems (which we refer to as the “MDx Device”). Our diagnostics systems enable very rapid, low-cost, molecular testing for organisms and genetic diseases by automating historically complex procedures in both the development and administration of tests. CDI’s technical advance involves a novel approach to Polymerase Chain Reaction (“PCR”) test design of primer and probe structure (“CoPrimers”) that eliminates one of the key vexing issues of PCR amplification, the exponential growth of primer-dimer pairs (false positives and false negatives) which adversely interferes with identification of the target DNA. Use of Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Such estimates include receivables and other long-lived assets, legal and regulatory contingencies, income taxes, share based arrangements, and others. These estimates and assumptions are based on management’s best estimates and judgments. Actual amounts and results could differ from those estimates.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	NOTE 2 – SUMMARY of SIGNIFICANT ACCOUNTING POLICIES Accounts Receivable Trade accounts receivable are recorded at the invoiced amount (net of allowance) and do not bear interest. The Company maintains an allowance for doubtful accounts for amounts the Company does not expect to collect. In establishing the required allowance, management considers historical losses, current market condition, customers’ financial condition, the age of receivables, and current payment patterns. Account balances are written off against the allowance once the receivable is deemed uncollectible. Recoveries of trade receivables previously written off are recorded when collected. At June 30, 2020 total accounts receivable was $5,885,065 with an allowance for uncollectable accounts of $535,389 resulting in a net amount of $5,349,876. Equity-Method Investments Our equity method investments are initially recorded at costs and are included in other long-term assets in the accompanying condensed consolidated balance sheet. We adjust the carrying value of our investment based on our share of the earnings or losses in the periods which they are reported by the investee until the carrying amount is zero. The earnings or losses are included in other expense in the accompanying condensed consolidated statements of operations. Inventory Inventory is stated at the lower of cost or net-realizable value. Inventory cost is determined on a first-in first-out basis that approximates average cost in accordance with ASC 330-10-30-12. At June 30, 2020, we had $10,110,786 in inventory of which $3,763,472 was finished goods and $6,347,314 was raw materials. Provisions are made to reduce low-moving, obsolete, or unusable inventories to their estimated useful or scrap values. The Company establishes reserves for this purpose. Revenue Recognition The Company generates revenue from product sales and license sales. The Company recognizes revenue when all of the following criteria are satisfied: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when, or as the Company satisfies each performance obligation. The Company constrains revenue by giving consideration to factors that could otherwise lead to a probable reversal of revenue. The Company records any payments received from customers prior to the Company fulfilling its performance obligation(s) as deferred revenue. Earnings (Loss) per Share Basic earnings or loss per common share is computed by dividing net income or loss applicable to common shareholders by the weighted average number of shares outstanding during each period. For the three and six months ended June 30, 2020 the Company included 1,401,561 and 87,777, and 1,493,821 and 76,172 for outstanding options and warrants, respectively in calculating the diluted earnings per share. As the Company experienced net losses during the three and six months ended June 30, 2019, respectively, no common stock equivalents have been included in the diluted earnings per common share calculations as the effect of such common stock equivalents would be anti-dilutive. For the three and six months ended June 30, 2019, there were 4,534,575 potentially dilutive shares consisting of: (i) 1,247,707 for outstanding options, (ii) 953,535 for outstanding warrants and (iii) 2,333,333 for issued and outstanding shares of convertible preferred stock. Research and Development Research and development costs are expensed when incurred. The Company expensed $750,249 and $1,150,271 of research and development costs for the three and six months ended June 30, 2020, respectively. The Company expensed $312,590 and $659,896 of research and development costs for the three and six months ended June 30, 2019, respectively. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) that are adopted by the Company as of the specified effective date. If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption. As an emerging growth company (“EGC”), the Company has elected to take advantage of the benefits of the extended transition period provided for in Section 7(a)(2)(B) of the Securities Act of 1933, as amended, for complying with new or revised accounting standards which allows the Company to defer adoption of certain accounting standards until those standards would otherwise apply to private companies. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires recognition of leased assets and liabilities on the balance sheet and disclosing key information about leasing arrangements. This update is effective for annual periods and interim periods with those periods beginning after December 15, 2020, for public EGC companies like us. The Company expects to use the modified retrospective transition method with the option to recognize a cumulative-effect adjustment at the date of adoption. The Company expects its balance sheet will be impacted as it records right-of-use assets and lease liabilities on its consolidated balance sheet, but does not expect the adoption of this standard will have a material impact on its consolidated statements of operations and cash flows. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) (“ASU 2016-13, which requires the measurement and recognition of expected credit losses for certain financial instruments, which includes the Company’s accounts receivable. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. The update is effective for annual periods and interim periods with those periods beginning after December 15, 2021, for public EGC companies like us, but the Company may adopt upon election, it on January 1, 2021. The standard requires a cumulative effect adjustment to the balance sheet as of the beginning of the first early reporting period in which the guidance is effective. The Company is evaluating the impact of the adoption of ASU 2016-13 on its consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) (“ASU 2019-12”), which removes certain exceptions for investments, intraperiod allocations and interim calculations and adds guidance to reduce complexity in accounting for income taxes. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020; early adoption is permitted. The Company is still assessing the amendments of ASU 2019-12 and the impact the amendments will have on the Company’s consolidated financial statements and related disclosures. Commitments and Contingency On July 16, 2020, we were served in an action filed in the United States District Court for the District of Utah claiming that the Company promulgated false and misleading press releases to increase the price of our stock to improperly benefit the officers and directors of the Company. The Plaintiff, Gelt Trading, Ltd., a Cayman Islands limited company, demands compensatory damages sustained as a result of our alleged wrongdoing in an amount to be proven at trial. We will vigorously defend this action as we do not believe it has any merit. In addition, there is a threatened lawsuit from former consultants claiming compensation for services rendered in 2015. We will vigorously defend this matter if it results in a lawsuit.

Restatement Of Condensed Consol

Restatement Of Condensed Consolidated Financial Statements (Unaudited)	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Restatement of Condensed Consolidated Financial Statements (Unaudited)	NOTE 3 – RESTATEMENT OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Subsequent to the filing of its Form 10-Q on August 13, 2020, the Company identified an accounting issue relating to an understatement of prepaid inventory and an overstatement of cost of revenue during the three and six months ended June 30, 2020. The Company evaluated the error and determined that the change resulting in an increase of prepaid expenses, gross profit, and net income of $2,369,369 and a decrease of cost of revenue and accumulated deficit of $2,369,369. Additionally, the change resulted in an increase of net income per common share for basic and diluted of $0.08. As a result, the Company restated its previously issued unaudited consolidated financial statements, included in its Amendment to the Company’s Quarterly Report on Form 10-Q/A for the three and six months ended June 30, 2020, filed on August 13, 2020. The following tables present the effects of the restatement on the Company’s condensed consolidated balance sheet as of June 30, 2020, the condensed consolidated statements of operations for the three and six months ended June 30, 2020 and the condensed consolidated cash flows for the six months ended June 30, 2020. In addition to the tables presented below, the Company’s accumulated deficit per the condensed consolidated statements of stockholders’ equity as of June 30, 2020 decreased from ($13,397,367) to ($11,027,998) as a result of the increase in net income from $12,635,640 to $15,005,009 for the three months ended June 30, 2020. Condensed Consolidated Balance Sheet June 30, 2020 As Previously Reported Adjustments As Restated Assets Current assets Cash and cash equivalents $ 18,550,437 $ - $ 18,550,437 Accounts receivable, net 5,349,876 - 5,349,876 Inventory 10,110,786 - 10,110,786 Prepaid expenses 521,180 2,369,369 2,890,549 Total current assets 34,532,279 2,369,369 36,901,648 Property and equipment, net 473,376 - 473,376 Investment in joint venture 1,416,480 - 1,416,480 Total assets $ 36,422,135 $ 2,369,369 $ 38,791,504 Liabilities and stockholders’ equity Current liabilities Accounts payable $ 1,127,709 $ - $ 1,127,709 Accrued expenses 691,385 - 691,385 Accrued expenses (related party) 120,000 - 120,000 Deferred revenue 1,045,548 - 1,045,548 Total current liabilities 2,984,642 - 2,984,642 Accrued expenses-long-term (related party) 80,000 - 80,000 Total liabilities 3,064,642 - 3,064,642 Commitments and contingencies (Note 1) Stockholders’ equity Convertible preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 and 25,600 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively - - - Common Stock, $0.001 par value; 100,000,000 shares authorized; 27,991,042 and 17,342,922 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively 27,991 - 27,991 Additional paid-in capital 46,726,869 - 46,726,869 Accumulated deficit (13,397,367 ) 2,369,369 (11,027,998 ) Total stockholders’ equity 33,357,493 2,369,369 35,726,862 Total liabilities and stockholders’ equity $ 36,422,135 $ 2,369,369 $ 38,791,504 Condensed Consolidated Statement of Operations Three Months Ended June 30, 2020 As Previously Reported Adjustments As Restated Net revenue $ 24,040,274 $ - $ 24,040,274 Cost of revenue 8,344,674 (2,369,369 ) 5,975,305 Gross profit 15,695,600 2,369,369 18,064,969 Operating expenses Sales and marketing 390,191 - 390,191 Administrative and general 2,191,034 - 2,191,034 Research and development 750,249 - 750,249 Depreciation and amortization 25,218 - 25,218 Total operating expenses 3,356,692 - 3,356,692 Income from operations 12,338,908 2,369,369 14,708,277 Other income Interest income 38,173 - 38,173 Interest expense - - - Gain on disposition of assets - - - Gain (loss) on equity method investment in joint venture 258,559 - 258,559 Total other income 296,732 - 296,732 Income before income taxes 12,635,640 2,369,369 15,005,009 Provision for income taxes - - - Net income $ 12,635,640 $ 2,369,369 $ 15,005,009 Net income per common share: Basic $ 0.46 $ 0.08 $ 0.54 Diluted $ 0.43 $ 0.08 $ 0.51 Weighted average shares outstanding: Basic 27,582,229 27,582,229 27,582,229 Diluted 29,152,222 29,152,222 29,152,222 Condensed Consolidated Statement of Operations Six Months Ended June 30, 2020 As Previously Reported Adjustments As Restated Net revenue $ 25,588,802 $ - $ 25,588,802 Cost of revenue 8,826,414 (2,369,369 ) 6,457,045 Gross profit 16,762,388 2,369,369 19,131,757 Operating expenses Sales and marketing 658,674 - 658,674 Administrative and general 3,650,518 - 3,650,518 Research and development 1,150,271 - 1,150,271 Depreciation and amortization 45,966 - 45,966 Total operating expenses 5,505,429 - 5,505,429 Income (loss) from operations 11,256,959 2,369,369 13,626,328 Other income Interest income 45,748 - 45,748 Interest expense - - - Gain on disposition of assets - - - Gain (loss) on equity method investment in joint venture 267,740 - 267,740 Total other income 313,488 - 313,488 Income before income taxes 11,570,447 2,369,369 13,939,816 Provision for income taxes - - - Net income $ 11,570,447 $ 2,369,369 $ 13,939,816 Net income per common share: Basic $ 0.42 $ 0.08 $ 0.50 Diluted $ 0.40 $ 0.08 $ 0.48 Weighted average shares outstanding: Basic 27,605,137 27,605,137 27,605,137 Diluted 29,094,475 29,094,475 29,094,475 Condensed Consolidated Statement of Cash Flows Six Months Ended June 30, 2020 As Previously Reported Adjustments As Restated Cash flows from operating activities Net income $ 11,570,447 $ 2,369,369 $ 13,939,816 Adjustments to reconcile net income (loss) to cash used in operating activities: Depreciation and amortization 45,966 - 45,966 Stock-based compensation expense 1,124,242 - 1,124,242 Accretion of notes payable discount - - - Gain on disposition of assets - - - Loss (gain) from equity method investment (267,740 ) - (267,740 ) Changes in assets and liabilities: Accounts and other receivable (5,218,494 ) - (5,218,494 ) Prepaid and other assets (158,614 ) (2,369,369 ) (2,527,983 ) Inventory (10,030,838 ) - (10,030,838 ) Deffered revenue 1,044,225 - 1,044,225 Accounts payable and accrued expenses 1,542,347 - 1,542,347 Net cash used in operating activities (348,459 ) - (348,459 ) Cash flows from investing activities Purchase of property and equipment (205,290 ) - (205,290 ) Investment in joint venture (714,500 ) - (714,500 ) Net cash used in investing activities (919,790 ) - (919,790 ) Cash flows from financing activities Proceeds from sale of common stock 19,470,005 - 19,470,005 Proceeds from sale of preferred stock - - - Proceeds from exercise of options and warrants 913,465 - 913,465 Payment of offering costs (1,457,922 ) - (1,457,922 ) Net cash provided by financing activities 18,925,548 - 18,925,548 Net increase in cash and cash equivalents 17,657,299 - 17,657,299 Cash and cash equivalents at beginning of period 893,138 - 893,138 Cash and cash equivalents at end of period $ 18,550,437 $ - $ 18,550,437

Equity

Equity	6 Months Ended
	Jun. 30, 2020
Equity [Abstract]
Equity	NOTE 4 – EQUITY 2020 On January 28, 2020, we completed the sale of 3,448,278 shares of the Company’s common stock, par value $0.001 per share, at a purchase price of $1.45 per share in a registered direct offering. The aggregate gross proceeds for the sale of the shares was $5,000,003 and we received net proceeds of $4,517,102 after deducting offering costs of $482,901. On February 13, 2020, we completed the sale of 3,324,676 shares of the Company’s common stock, par value $0.001 per share, at a purchase price of $3.08 per share in a registered direct offering. The aggregate gross proceeds for the sale of the shares was $10,240,002 and we received net proceeds of $9,612,561 after deducting offering costs of $627,441. On March 2, 2020, we completed the sale of 470,000 shares of the Company’s common stock, par value $0.001 per share, at a purchase price of $9.00 per share in a registered direct offering. The aggregate gross proceeds for the sale of the shares was $4,230,000 and we received net proceeds of $3,882,420 after deducting offering costs of $347,580. On March 5, 2020 we received $50,000 from the exercise of 25,000 unregistered warrants at an exercise price of $2.00 per share and issued 25,000 shares of our common stock. During the three months ended March 31, 2020, we issued an aggregate of 2,133,333 shares of our common stock in conversion of 2,560,000 shares of our Series A Preferred Stock at a conversion price calculated by multiplying the number of preferred shares being converted by $100 and dividing the result by $1.20. During the three months ended March 31, 2020, we issued an aggregate of 694,492 shares of our common stock in relation to the cashless exercise of 759,445 previously issued unregistered warrants. During the three months ended March 31, 2020. we issued 12,363 shares of our common stock valued at $31,193 to 2 companies for investment relations services rendered. During the three months ended June 30, 2020, we received $220,000 from the exercise of 110,000 unregistered warrants at an exercise price of $2.00 per share and issued an aggregate of 110,000 shares of our common stock to four individuals. During the three months ended June 30, 2020, we received $643,465 from the exercise of 420,289 registered options by10 employees and two Members of our Board of Directors and issued an aggregate of 420,289 shares of our common stock. During the three months ended June 30, 2020, we issued 9,689 shares of our commons stock valued at $86,050 to 3 companies for investment relations services rendered. 2019 On January 30, 2019, we entered into a securities purchase agreement with accredited investors pursuant to which such investors purchased from an aggregate of 30,000 shares of Series A Convertible Preferred Stock of the Company for an aggregate purchase price of $3,000,000. The purchase price was paid by the investors with $1.0 million in cash and the conversion of a $2.0 million promissory note of the Company issued to the investors. The investors may not convert the Series A Preferred Stock to the extent that such conversion would result in beneficial ownership by the investors and their affiliates of more than 4.99% of the issued and outstanding common stock of the Company. On February 4, 2019, we completed the sale of an aggregate of 3,925,716 shares of the Company’s common stock, par value $0.001 per share, at a purchase price of $1.40 per share in a registered direct offering. The aggregate gross proceeds for the sale of the shares of common stock was $5,496,002 and we received net proceeds of $4,903,238 after offering costs of $592,764. On March 7, 2019, we issued an aggregate of 166,667 shares of our common stock in relation to 2,000 shares of our Series A Preferred Stock being converted to common stock at a conversion price calculated by multiplying the number of preferred shares being converted by $100 and dividing the result by $1.20. In June 2019, we issued 100,000 shares of our common stock to a company valued at $80,400 pursuant to a professional services agreement.

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement, Disclosure [Abstract]
Stock-Based Compensation	NOTE 5 – STOCK-BASED COMPENSATION Stock Incentive Plans The Co-Diagnostics, Inc. 2015 Long Term Incentive Plan reserves an aggregate of 6,000,000 shares of common stock issuable upon the grant of awards under the plan. The number of unissued awards authorized under the plan at June 30, 2020 was 3,828,183. Stock Options We use a Black-Scholes model to value granted stock options which requires various judgmental assumptions including the estimated volatility, risk-free interest rate and expected option term. In determining the expected volatility our computation is based the stock prices of 3 comparable companies and is based on a combination of historical and market-based implied volatility. The risk-free interest rate was based on the yield curve of a zero-coupon U.S. Treasury bond on the date the option was granted with a maturity equal to the expected term of the option. The fair values for the options granted were estimated at the date of grant using the Black Scholes option-pricing model with the following weighted average assumptions: Six months ended June 30, 2020 2019 Risk-free interest rate 1.05 % 1.56 % Expected life (years) 7.3 10.0 Expected volatility 62.82 % 63.65 % Expected dividend yield None None Stock price $ 8.14 $ 1.07 We recognized $301,568 and $703,198 of stock-based compensation expense, related to stock options for the three and six months ended June 30, 2020 respectively, which is included in administrative and general expenses. We recognized $126,483 and $214,278 of stock-based compensation expense, related to stock options for the three and six months ended June 30, 2019, respectively, which is included in administrative and general expenses. The following table summarizes option activity during the year ended December 31, 2019 and the six months ended June 30, 2020, respectively. Number of Options Weighted Average Exercise Price Weighted Average Fair Value Weighted Average Remaining Contractual Life (Years) Outstanding at January 1, 2019 1,172,707 $ 1.85 $ 1.09 8.72 Granted 890,000 1.07 0.52 9.66 Expired - - - - Forfeited/Cancelled (40,890 ) 3.85 1.59 8.04 Exercised - - - - Outstanding at December 31, 2019 2,021,817 $ 1.69 $ 0.83 8.73 Granted 150,000 8.14 4.70 7.30 Expired - - - - Forfeited/Cancelled - - - - Exercised (420,289 ) 1.53 0.79 7.62 Outstanding at June 30, 2020 1,751,528 $ 2.28 $ 1.21 8.50 The intrinsic value of options outstanding at June 30, 2020 and 2019 was $15,462,981 and $72,093, respectively. There were 843,333 and 566,667 of unvested option included the table above as of June 30, 2020 and 2019, respectively. At June 30, 2020 there were 843,333 unvested options. Warrants The Company estimates the fair value of issued warrants on the date of issuance as determined using a Black-Scholes pricing model. The Company amortizes the fair value of issued warrants using a vesting schedule based on the terms and conditions of each warrant. The Black-Scholes valuation model requires various judgmental assumptions including the estimated volatility, risk-free interest rate and expected warrant term. In determining the expected volatility, our computation is based on the stock prices of three comparable companies and on a combination of historical and market-based implied volatility. The risk-free interest rate is based on the yield curve of a zero-coupon U.S. Treasury bond on the date the warrant was issued with a maturity equal to the expected term of the warrant. The following table summarizes warrant activity during the year ended December 31, 2019 and the six months ended June 30, 2020, respectively. Number of Warrants Weighted Average Exercise Price Weighted Average Fair Value Weighted Average Remaining Contractual Life (Years) Outstanding at January 1, 2019 483,535 $ 4.92 $ 1.99 3.29 Granted 500,000 1.53 1.46 5.00 Expired - - - - Forfeited/Cancelled - - - - Exercised - - - - Outstanding at December 31, 2019 983,535 $ 1.44 $ 1.03 3.34 Granted 20,000 16.49 15.19 5.00 Expired - - - - Forfeited/Cancelled - - - - Exercised (894,445 ) 1.37 1.05 2.80 Outstanding at June 30, 2020 109,090 $ 2.06 $ 1.17 3.62 The intrinsic value of options and warrants exercised in the six months ended June 30, 2020 was $16,083,097. Total unrecognized stock-based compensation was $468,295 at June 30, 2020 for options granted. The Company expects to recognize the aggregate amount of this compensation expense over the next years in accordance with contractual provisions and vesting as follows: Year Ending December 31, 2020 $ 198,148 2021 234,149 2022 35,998 Total $ 468,295

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	NOTE 6 – RELATED PARTY TRANSACTIONS The Company acquired the exclusive rights to the CoPrimer technology pursuant to an exclusive license agreement, dated April 2014 (the “Exclusive License Agreement”), between the Company and DNA Logix, Inc., which was assigned to Dr. Brent Satterfield, one of our current executive officers, prior to our acquisition of DNA Logix, Inc. On March 1, 2017, the Company entered into an amendment to its Exclusive License Agreement for its Cooperative Primers (“License”) technology with Dr. Satterfield. The amendment provides in part that all accrued royalties under the License cease as of January 1, 2017, and we began in January 2017 to pay to Dr. Satterfield $700,000 of accrued royalties at the rate of $10,000 per month. At June 30, 2020, the aggregate balance of this related party liability was $200,000.

Lease Obligations

Lease Obligations	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Lease Obligations	NOTE 7 – LEASE OBLIGATIONS Our offices are located at 2401 S. Foothill Dr., Suite D, Salt Lake City, Utah 84109-1479. In February 2020, the Company entered into a 4-year lease agreement for its office space and in March 2020, the Company entered into an addendum with our landlord for additional space. The new aggregate space consists of approximately 13,687 square feet at a monthly rate of $28,825 and expires in February 2024. For the three and six months ended June 30, 2020 the Company expensed $86,969 and $138,787, respectively, for rent. For the three and six months ended June 30, 2019, the Company expensed $45,040 and $90,621, respectively, for rent. The Company’s ongoing lease obligation as of June 30, 2020 is as follows: Year Ending December 31, 2020 (remainder) $ 172,950 2021 345,900 2022 345,900 2023 345,900 2024 57,653 Total lease payments $ 1,268,303

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	NOTE 8 – SUBSEQUENT EVENTS In August, 2020, we discovered that a freezer that held manufactured tests had failed and that approximately $1,200,000 of finished goods inventory had thawed and was no longer saleable and will be written off.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2020
Accounting Policies [Abstract]
Accounts Receivable	Accounts Receivable Trade accounts receivable are recorded at the invoiced amount (net of allowance) and do not bear interest. The Company maintains an allowance for doubtful accounts for amounts the Company does not expect to collect. In establishing the required allowance, management considers historical losses, current market condition, customers’ financial condition, the age of receivables, and current payment patterns. Account balances are written off against the allowance once the receivable is deemed uncollectible. Recoveries of trade receivables previously written off are recorded when collected. At June 30, 2020 total accounts receivable was $5,885,065 with an allowance for uncollectable accounts of $535,389 resulting in a net amount of $5,349,876.
Equity-Method Investments	Equity-Method Investments Our equity method investments are initially recorded at costs and are included in other long-term assets in the accompanying condensed consolidated balance sheet. We adjust the carrying value of our investment based on our share of the earnings or losses in the periods which they are reported by the investee until the carrying amount is zero. The earnings or losses are included in other expense in the accompanying condensed consolidated statements of operations.
Inventory	Inventory Inventory is stated at the lower of cost or net-realizable value. Inventory cost is determined on a first-in first-out basis that approximates average cost in accordance with ASC 330-10-30-12. At June 30, 2020, we had $10,110,786 in inventory of which $3,763,472 was finished goods and $6,347,314 was raw materials. Provisions are made to reduce low-moving, obsolete, or unusable inventories to their estimated useful or scrap values. The Company establishes reserves for this purpose.
Revenue Recognition	Revenue Recognition The Company generates revenue from product sales and license sales. The Company recognizes revenue when all of the following criteria are satisfied: (i) identification of the promised goods or services in the contract; (ii) determination of whether the promised goods or services are performance obligations, including whether they are distinct in the context of the contract; (iii) measurement of the transaction price, including the constraint on variable consideration; (iv) allocation of the transaction price to the performance obligations; and (v) recognition of revenue when, or as the Company satisfies each performance obligation. The Company constrains revenue by giving consideration to factors that could otherwise lead to a probable reversal of revenue. The Company records any payments received from customers prior to the Company fulfilling its performance obligation(s) as deferred revenue.
Earnings (Loss) Per Share	Earnings (Loss) per Share Basic earnings or loss per common share is computed by dividing net income or loss applicable to common shareholders by the weighted average number of shares outstanding during each period. For the three and six months ended June 30, 2020 the Company included 1,401,561 and 87,777, and 1,493,821 and 76,172 for outstanding options and warrants, respectively in calculating the diluted earnings per share. As the Company experienced net losses during the three and six months ended June 30, 2019, respectively, no common stock equivalents have been included in the diluted earnings per common share calculations as the effect of such common stock equivalents would be anti-dilutive. For the three and six months ended June 30, 2019, there were 4,534,575 potentially dilutive shares consisting of: (i) 1,247,707 for outstanding options, (ii) 953,535 for outstanding warrants and (iii) 2,333,333 for issued and outstanding shares of convertible preferred stock.
Research and Development	Research and Development Research and development costs are expensed when incurred. The Company expensed $750,249 and $1,150,271 of research and development costs for the three and six months ended June 30, 2020, respectively. The Company expensed $312,590 and $659,896 of research and development costs for the three and six months ended June 30, 2019, respectively.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (“FASB”) that are adopted by the Company as of the specified effective date. If not discussed, management believes that the impact of recently issued standards, which are not yet effective, will not have a material impact on the Company’s financial statements upon adoption. As an emerging growth company (“EGC”), the Company has elected to take advantage of the benefits of the extended transition period provided for in Section 7(a)(2)(B) of the Securities Act of 1933, as amended, for complying with new or revised accounting standards which allows the Company to defer adoption of certain accounting standards until those standards would otherwise apply to private companies. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842), which requires recognition of leased assets and liabilities on the balance sheet and disclosing key information about leasing arrangements. This update is effective for annual periods and interim periods with those periods beginning after December 15, 2020, for public EGC companies like us. The Company expects to use the modified retrospective transition method with the option to recognize a cumulative-effect adjustment at the date of adoption. The Company expects its balance sheet will be impacted as it records right-of-use assets and lease liabilities on its consolidated balance sheet, but does not expect the adoption of this standard will have a material impact on its consolidated statements of operations and cash flows. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments-Credit Losses (Topic 326) (“ASU 2016-13, which requires the measurement and recognition of expected credit losses for certain financial instruments, which includes the Company’s accounts receivable. ASU 2016-13 replaces the existing incurred loss impairment model with an expected loss methodology, which will result in more timely recognition of credit losses. The update is effective for annual periods and interim periods with those periods beginning after December 15, 2021, for public EGC companies like us, but the Company may adopt upon election, it on January 1, 2021. The standard requires a cumulative effect adjustment to the balance sheet as of the beginning of the first early reporting period in which the guidance is effective. The Company is evaluating the impact of the adoption of ASU 2016-13 on its consolidated financial statements. In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740) (“ASU 2019-12”), which removes certain exceptions for investments, intraperiod allocations and interim calculations and adds guidance to reduce complexity in accounting for income taxes. ASU 2019-12 is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2020; early adoption is permitted. The Company is still assessing the amendments of ASU 2019-12 and the impact the amendments will have on the Company’s consolidated financial statements and related disclosures.
Commitments and Contingency	Commitments and Contingency On July 16, 2020, we were served in an action filed in the United States District Court for the District of Utah claiming that the Company promulgated false and misleading press releases to increase the price of our stock to improperly benefit the officers and directors of the Company. The Plaintiff, Gelt Trading, Ltd., a Cayman Islands limited company, demands compensatory damages sustained as a result of our alleged wrongdoing in an amount to be proven at trial. We will vigorously defend this action as we do not believe it has any merit. In addition, there is a threatened lawsuit from former consultants claiming compensation for services rendered in 2015. We will vigorously defend this matter if it results in a lawsuit.

Restatement Of Condensed Cons_2

Restatement Of Condensed Consolidated Financial Statements (Tables)	6 Months Ended
	Jun. 30, 2020
Accounting Changes and Error Corrections [Abstract]
Schedule of Restatement of Unaudited Consolidated Financial Statements	Condensed Consolidated Balance Sheet June 30, 2020 As Previously Reported Adjustments As Restated Assets Current assets Cash and cash equivalents $ 18,550,437 $ - $ 18,550,437 Accounts receivable, net 5,349,876 - 5,349,876 Inventory 10,110,786 - 10,110,786 Prepaid expenses 521,180 2,369,369 2,890,549 Total current assets 34,532,279 2,369,369 36,901,648 Property and equipment, net 473,376 - 473,376 Investment in joint venture 1,416,480 - 1,416,480 Total assets $ 36,422,135 $ 2,369,369 $ 38,791,504 Liabilities and stockholders’ equity Current liabilities Accounts payable $ 1,127,709 $ - $ 1,127,709 Accrued expenses 691,385 - 691,385 Accrued expenses (related party) 120,000 - 120,000 Deferred revenue 1,045,548 - 1,045,548 Total current liabilities 2,984,642 - 2,984,642 Accrued expenses-long-term (related party) 80,000 - 80,000 Total liabilities 3,064,642 - 3,064,642 Commitments and contingencies (Note 1) Stockholders’ equity Convertible preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 and 25,600 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively - - - Common Stock, $0.001 par value; 100,000,000 shares authorized; 27,991,042 and 17,342,922 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively 27,991 - 27,991 Additional paid-in capital 46,726,869 - 46,726,869 Accumulated deficit (13,397,367 ) 2,369,369 (11,027,998 ) Total stockholders’ equity 33,357,493 2,369,369 35,726,862 Total liabilities and stockholders’ equity $ 36,422,135 $ 2,369,369 $ 38,791,504 Condensed Consolidated Statement of Operations Three Months Ended June 30, 2020 As Previously Reported Adjustments As Restated Net revenue $ 24,040,274 $ - $ 24,040,274 Cost of revenue 8,344,674 (2,369,369 ) 5,975,305 Gross profit 15,695,600 2,369,369 18,064,969 Operating expenses Sales and marketing 390,191 - 390,191 Administrative and general 2,191,034 - 2,191,034 Research and development 750,249 - 750,249 Depreciation and amortization 25,218 - 25,218 Total operating expenses 3,356,692 - 3,356,692 Income from operations 12,338,908 2,369,369 14,708,277 Other income Interest income 38,173 - 38,173 Interest expense - - - Gain on disposition of assets - - - Gain (loss) on equity method investment in joint venture 258,559 - 258,559 Total other income 296,732 - 296,732 Income before income taxes 12,635,640 2,369,369 15,005,009 Provision for income taxes - - - Net income $ 12,635,640 $ 2,369,369 $ 15,005,009 Net income per common share: Basic $ 0.46 $ 0.08 $ 0.54 Diluted $ 0.43 $ 0.08 $ 0.51 Weighted average shares outstanding: Basic 27,582,229 27,582,229 27,582,229 Diluted 29,152,222 29,152,222 29,152,222 Condensed Consolidated Statement of Operations Six Months Ended June 30, 2020 As Previously Reported Adjustments As Restated Net revenue $ 25,588,802 $ - $ 25,588,802 Cost of revenue 8,826,414 (2,369,369 ) 6,457,045 Gross profit 16,762,388 2,369,369 19,131,757 Operating expenses Sales and marketing 658,674 - 658,674 Administrative and general 3,650,518 - 3,650,518 Research and development 1,150,271 - 1,150,271 Depreciation and amortization 45,966 - 45,966 Total operating expenses 5,505,429 - 5,505,429 Income (loss) from operations 11,256,959 2,369,369 13,626,328 Other income Interest income 45,748 - 45,748 Interest expense - - - Gain on disposition of assets - - - Gain (loss) on equity method investment in joint venture 267,740 - 267,740 Total other income 313,488 - 313,488 Income before income taxes 11,570,447 2,369,369 13,939,816 Provision for income taxes - - - Net income $ 11,570,447 $ 2,369,369 $ 13,939,816 Net income per common share: Basic $ 0.42 $ 0.08 $ 0.50 Diluted $ 0.40 $ 0.08 $ 0.48 Weighted average shares outstanding: Basic 27,605,137 27,605,137 27,605,137 Diluted 29,094,475 29,094,475 29,094,475 Condensed Consolidated Statement of Cash Flows Six Months Ended June 30, 2020 As Previously Reported Adjustments As Restated Cash flows from operating activities Net income $ 11,570,447 $ 2,369,369 $ 13,939,816 Adjustments to reconcile net income (loss) to cash used in operating activities: Depreciation and amortization 45,966 - 45,966 Stock-based compensation expense 1,124,242 - 1,124,242 Accretion of notes payable discount - - - Gain on disposition of assets - - - Loss (gain) from equity method investment (267,740 ) - (267,740 ) Changes in assets and liabilities: Accounts and other receivable (5,218,494 ) - (5,218,494 ) Prepaid and other assets (158,614 ) (2,369,369 ) (2,527,983 ) Inventory (10,030,838 ) - (10,030,838 ) Deffered revenue 1,044,225 - 1,044,225 Accounts payable and accrued expenses 1,542,347 - 1,542,347 Net cash used in operating activities (348,459 ) - (348,459 ) Cash flows from investing activities Purchase of property and equipment (205,290 ) - (205,290 ) Investment in joint venture (714,500 ) - (714,500 ) Net cash used in investing activities (919,790 ) - (919,790 ) Cash flows from financing activities Proceeds from sale of common stock 19,470,005 - 19,470,005 Proceeds from sale of preferred stock - - - Proceeds from exercise of options and warrants 913,465 - 913,465 Payment of offering costs (1,457,922 ) - (1,457,922 ) Net cash provided by financing activities 18,925,548 - 18,925,548 Net increase in cash and cash equivalents 17,657,299 - 17,657,299 Cash and cash equivalents at beginning of period 893,138 - 893,138 Cash and cash equivalents at end of period $ 18,550,437 $ - $ 18,550,437

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2020
Share-based Payment Arrangement, Disclosure [Abstract]
Schedule of Fair Value of Options Weighted Average Assumptions	The fair values for the options granted were estimated at the date of grant using the Black Scholes option-pricing model with the following weighted average assumptions: Six months ended June 30, 2020 2019 Risk-free interest rate 1.05 % 1.56 % Expected life (years) 7.3 10.0 Expected volatility 62.82 % 63.65 % Expected dividend yield None None Stock price $ 8.14 $ 1.07
Schedule of Option Activity	The following table summarizes option activity during the year ended December 31, 2019 and the six months ended June 30, 2020, respectively. Number of Options Weighted Average Exercise Price Weighted Average Fair Value Weighted Average Remaining Contractual Life (Years) Outstanding at January 1, 2019 1,172,707 $ 1.85 $ 1.09 8.72 Granted 890,000 1.07 0.52 9.66 Expired - - - - Forfeited/Cancelled (40,890 ) 3.85 1.59 8.04 Exercised - - - - Outstanding at December 31, 2019 2,021,817 $ 1.69 $ 0.83 8.73 Granted 150,000 8.14 4.70 7.30 Expired - - - - Forfeited/Cancelled - - - - Exercised (420,289 ) 1.53 0.79 7.62 Outstanding at June 30, 2020 1,751,528 $ 2.28 $ 1.21 8.50
Schedule of Warrant Activity	The following table summarizes warrant activity during the year ended December 31, 2019 and the six months ended June 30, 2020, respectively. Number of Warrants Weighted Average Exercise Price Weighted Average Fair Value Weighted Average Remaining Contractual Life (Years) Outstanding at January 1, 2019 483,535 $ 4.92 $ 1.99 3.29 Granted 500,000 1.53 1.46 5.00 Expired - - - - Forfeited/Cancelled - - - - Exercised - - - - Outstanding at December 31, 2019 983,535 $ 1.44 $ 1.03 3.34 Granted 20,000 16.49 15.19 5.00 Expired - - - - Forfeited/Cancelled - - - - Exercised (894,445 ) 1.37 1.05 2.80 Outstanding at June 30, 2020 109,090 $ 2.06 $ 1.17 3.62
Schedule of Unrecognized Stock-based Compensation	The Company expects to recognize the aggregate amount of this compensation expense over the next years in accordance with contractual provisions and vesting as follows: Year Ending December 31, 2020 $ 198,148 2021 234,149 2022 35,998 Total $ 468,295

Lease Obligations (Tables)

Lease Obligations (Tables)	6 Months Ended
	Jun. 30, 2020
Leases [Abstract]
Schedule of Ongoing Lease Obligation	The Company’s ongoing lease obligation as of June 30, 2020 is as follows: Year Ending December 31, 2020 (remainder) $ 172,950 2021 345,900 2022 345,900 2023 345,900 2024 57,653 Total lease payments $ 1,268,303

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Accounts receivable	$ 5,885,065		$ 5,885,065
Doubtful accounts	535,389		535,389
Accounts receivable, net	5,349,876		5,349,876		$ 131,382
Inventory	10,110,786		10,110,786		$ 197,168
Inventory finished goods	3,763,472		3,763,472
Inventory raw materials	6,347,314		6,347,314
Potentially dilutive shares		4,534,575		4,534,575
Research and development cost	$ 750,249	$ 312,590	$ 1,150,271	$ 659,896
Outstanding Options [Member]
Potentially dilutive shares	1,401,561	1,247,707	87,777	1,247,707
Outstanding Warrants [Member]
Potentially dilutive shares	1,493,821	953,535	76,172	953,535
Convertible Preferred Stock [Member]
Potentially dilutive shares		2,333,333		2,333,333

Restatement of Condensed Cons_3

Restatement of Condensed Consolidated Financial Statements (Unaudited) (Details Narrative) - USD ($)	3 Months Ended				6 Months Ended
	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Net income (loss)	$ 15,005,009	$ (1,065,193)	$ (1,344,396)	$ (1,368,389)	$ 13,939,816	$ (2,712,785)
Accumulated deficit	(11,027,998)				(11,027,998)		$ (24,967,814)
Stockholders' equity	35,726,862	19,166,943	4,805,806	5,563,832	35,726,862	4,805,806	1,737,256	$ (1,058,811)
Accumulated Deficit
Net income (loss)	15,005,009	(1,065,193)	(1,344,396)	(1,368,389)
Stockholders' equity	(11,027,998)	$ (26,033,007)	$ (21,406,952)	$ (20,062,556)	(11,027,998)	$ (21,406,952)	$ (24,967,814)	$ (18,694,167)
Adjustments [Member]
Net income (loss)	2,369,369				2,369,369
Accumulated deficit	2,369,369				$ 2,369,369
Net income per common share for basic and diluted					$ 0.08
Stockholders' equity	2,369,369				$ 2,369,369
As previously Reported [Member]
Net income (loss)	12,635,640				11,570,447
Accumulated deficit	(13,397,367)				(13,397,367)
Stockholders' equity	33,357,493				33,357,493
As previously Reported [Member] | Accumulated Deficit
Net income (loss)	12,635,640
Stockholders' equity	$ (13,397,367)				$ (13,397,367)

Restatement of Condensed Cons_4

Restatement of Condensed Consolidated Financial Statements (Unaudited) - Schedule of Restatement of Unaudited Consolidated Financial Statements (Details) - USD ($)	Mar. 02, 2020	Feb. 13, 2020	Jan. 28, 2020	Feb. 04, 2019	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents					$ 18,550,437				$ 18,550,437		$ 893,138
Accounts receivable, net					5,349,876				5,349,876		131,382
Inventory					10,110,786				10,110,786		197,168
Prepaid expenses					2,890,549				2,890,549		362,566
Total current assets					36,901,648				36,901,648		1,584,254
Property and equipment, net					473,376				473,376		196,832
Investment in joint venture					1,416,480				1,416,480		434,240
Total assets					38,791,504				38,791,504		2,215,326
Accounts payable					1,127,709				1,127,709		5,959
Accrued expenses					691,385				691,385		200,788
Accrued expenses (related party)					120,000				120,000		120,000
Deferred revenue					1,045,548				1,045,548		1,323
Total current liabilities					2,984,642				2,984,642		328,070
Accrued expenses-long-term (related party)					80,000				80,000		150,000
Total liabilities					3,064,642				3,064,642		478,070
Commitments and contingencies (Note 1)
Convertible preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 and 25,600 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively											26
Common Stock, $0.001 par value; 100,000,000 shares authorized; 27,991,042 and 17,342,922 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively					27,991				27,991		17,343
Additional paid-in capital					46,726,869				46,726,869		26,687,701
Accumulated deficit					(11,027,998)				(11,027,998)		(24,967,814)
Total stockholders' equity					35,726,862	$ 19,166,943	$ 4,805,806	$ 5,563,832	35,726,862	$ 4,805,806	1,737,256	$ (1,058,811)
Total liabilities and stockholders' equity					38,791,504				38,791,504		$ 2,215,326
Net revenue					24,040,274		61,574		25,588,802	64,974
Cost of revenue					5,975,305		38,809		6,457,045	39,261
Gross profit					18,064,969		22,765		19,131,757	25,713
Sales and marketing					390,191		252,076		658,674	508,179
Administrative and general					2,191,034		807,769		3,650,518	1,448,132
Research and development					750,249		312,590		1,150,271	659,896
Depreciation and amortization					25,218		16,094		45,966	29,762
Total operating expenses					3,356,692		1,388,529		5,505,429	2,645,969
Income from operations					14,708,277		(1,365,764)		13,626,328	(2,620,256)
Interest income					38,173		19,640		45,748	20,048
Interest expense										(106,427)
Gain on disposition of assets										850
Gain (loss) on equity method investment in joint venture					258,559		1,728		267,740	(7,000)
Total other expense (expense)					296,732		21,368		313,488	(92,529)
Income (loss) before income taxes					15,005,009		(1,344,396)		13,939,816	(2,712,785)
Provision for income taxes
Net income					$ 15,005,009	(1,065,193)	$ (1,344,396)	(1,368,389)	$ 13,939,816	$ (2,712,785)
Basic income (loss) per common share					$ 0.54		$ (0.08)		$ 0.50	$ (0.16)
Diluted income (loss) per common share					$ 0.51		$ (0.08)		$ 0.48	$ (0.16)
Weighted average common shares outstanding basic					27,582,229		17,017,964		27,605,137	17,017,964
Weighted average common shares outstanding diluted					29,152,222		17,017,964		29,094,475	17,017,964
Stock-based compensation expense									$ 1,124,242	$ 294,677
Accretion of notes payable discount										91,428
Gain on disposition of assets										(850)
Loss (gain) from equity method investment									(267,740)	7,000
Accounts and other receivable									(5,218,494)	(42,065)
Prepaid and other assets									(2,527,983)	(183,446)
Inventory									(10,030,838)	9,920
Deffered revenue									1,044,225
Accounts payable and accrued expenses									1,542,347	(191,332)
Net cash used in operating activities									(348,459)	(2,697,691)
Purchase of property and equipment									(205,290)	(52,775)
Investment in joint venture									(714,500)	(247,000)
Net cash used in investing activities									(919,790)	(299,775)
Proceeds from sale of common stock	$ 4,230,000	$ 10,240,002	$ 5,000,003	$ 5,496,002					19,470,005	5,496,002
Proceeds from sale of preferred stock										1,000,000
Proceeds from exercise of options and warrants									913,465
Payment of offering costs									(1,457,922)	(592,764)
Net cash provided by financing activities									18,925,548	5,903,238
Net increase in cash and cash equivalents									17,657,299	2,905,772
Cash and cash equivalents at beginning of period						893,138		$ 950,237	893,138	950,237
Cash and cash equivalents at end of period					18,550,437		$ 3,856,009		18,550,437	$ 3,856,009
As Previously Reported [Member]
Cash and cash equivalents					18,550,437				18,550,437
Accounts receivable, net					5,349,876				5,349,876
Inventory					10,110,786				10,110,786
Prepaid expenses					521,180				521,180
Total current assets					34,532,279				34,532,279
Property and equipment, net					473,376				473,376
Investment in joint venture					1,416,480				1,416,480
Total assets					36,422,135				36,422,135
Accounts payable					1,127,709				1,127,709
Accrued expenses					691,385				691,385
Accrued expenses (related party)					120,000				120,000
Deferred revenue					1,045,548				1,045,548
Total current liabilities					2,984,642				2,984,642
Accrued expenses-long-term (related party)					80,000				80,000
Total liabilities					3,064,642				3,064,642
Commitments and contingencies (Note 1)
Convertible preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 and 25,600 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively
Common Stock, $0.001 par value; 100,000,000 shares authorized; 27,991,042 and 17,342,922 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively					27,991				27,991
Additional paid-in capital					46,726,869				46,726,869
Accumulated deficit					(13,397,367)				(13,397,367)
Total stockholders' equity					33,357,493				33,357,493
Total liabilities and stockholders' equity					36,422,135				36,422,135
Net revenue					24,040,274				25,588,802
Cost of revenue					8,344,674				8,826,414
Gross profit					15,695,600				16,762,388
Sales and marketing					390,191				658,674
Administrative and general					2,191,034				3,650,518
Research and development					750,249				1,150,271
Depreciation and amortization					25,218				45,966
Total operating expenses					3,356,692				5,505,429
Income from operations					12,338,908				11,256,959
Interest income					38,173				45,748
Interest expense
Gain on disposition of assets
Gain (loss) on equity method investment in joint venture					258,559				267,740
Total other expense (expense)					296,732				313,488
Income (loss) before income taxes					12,635,640				11,570,447
Provision for income taxes
Net income					$ 12,635,640				$ 11,570,447
Basic income (loss) per common share					$ 0.46				$ 0.42
Diluted income (loss) per common share					$ 0.43				$ 0.40
Weighted average common shares outstanding basic					27,582,229				27,605,137
Weighted average common shares outstanding diluted					29,152,222				29,094,475
Stock-based compensation expense									$ 1,124,242
Accretion of notes payable discount
Gain on disposition of assets
Loss (gain) from equity method investment									(267,740)
Accounts and other receivable									(5,218,494)
Prepaid and other assets									(158,614)
Inventory									(10,030,838)
Deffered revenue									1,044,225
Accounts payable and accrued expenses									1,542,347
Net cash used in operating activities									(348,459)
Purchase of property and equipment									(205,290)
Investment in joint venture									(714,500)
Net cash used in investing activities									(919,790)
Proceeds from sale of common stock									19,470,005
Proceeds from sale of preferred stock
Proceeds from exercise of options and warrants									913,465
Payment of offering costs									(1,457,922)
Net cash provided by financing activities									18,925,548
Net increase in cash and cash equivalents									17,657,299
Cash and cash equivalents at beginning of period						893,138			893,138
Cash and cash equivalents at end of period					18,550,437				18,550,437
Adjustments [Member]
Cash and cash equivalents
Accounts receivable, net
Inventory
Prepaid expenses					2,369,369				2,369,369
Total current assets					2,369,369				2,369,369
Property and equipment, net
Investment in joint venture
Total assets					2,369,369				2,369,369
Accounts payable
Accrued expenses
Accrued expenses (related party)
Deferred revenue
Total current liabilities
Accrued expenses-long-term (related party)
Total liabilities
Commitments and contingencies (Note 1)
Convertible preferred stock, $0.001 par value; 5,000,000 shares authorized; 0 and 25,600 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively
Common Stock, $0.001 par value; 100,000,000 shares authorized; 27,991,042 and 17,342,922 shares issued and outstanding as of June 30, 2020 and December 31, 2019, respectively
Additional paid-in capital
Accumulated deficit					2,369,369				2,369,369
Total stockholders' equity					2,369,369				2,369,369
Total liabilities and stockholders' equity					2,369,369				2,369,369
Net revenue
Cost of revenue					(2,369,369)				(2,369,369)
Gross profit					2,369,369				2,369,369
Sales and marketing
Administrative and general
Research and development
Depreciation and amortization
Total operating expenses
Income from operations					2,369,369				2,369,369
Interest income
Interest expense
Gain on disposition of assets
Gain (loss) on equity method investment in joint venture
Income (loss) before income taxes					2,369,369				2,369,369
Provision for income taxes
Net income					$ 2,369,369				$ 2,369,369
Basic income (loss) per common share					$ 0.08				$ 0.08
Diluted income (loss) per common share					$ 0.08				$ 0.08
Weighted average common shares outstanding basic					27,582,229				27,605,137
Weighted average common shares outstanding diluted					29,152,222				29,094,475
Stock-based compensation expense
Accretion of notes payable discount
Gain on disposition of assets
Loss (gain) from equity method investment
Accounts and other receivable
Prepaid and other assets									(2,369,369)
Inventory
Deffered revenue
Accounts payable and accrued expenses
Net cash used in operating activities
Purchase of property and equipment
Investment in joint venture
Net cash used in investing activities
Proceeds from sale of common stock
Proceeds from sale of preferred stock
Proceeds from exercise of options and warrants
Payment of offering costs
Net cash provided by financing activities
Net increase in cash and cash equivalents
Cash and cash equivalents at beginning of period
Cash and cash equivalents at end of period

Restatement of Condensed Cons_5

Restatement of Condensed Consolidated Financial Statements (Unaudited) - Schedule of Restatement of Unaudited Consolidated Financial Statements (Details) (Parenthetical) - $ / shares	Jun. 30, 2020	Mar. 02, 2020	Feb. 13, 2020	Jan. 28, 2020	Dec. 31, 2019	Feb. 04, 2019
Convertible preferred stock, par value	$ 0.001				$ 0.001
Convertible preferred stock , shares authorized	5,000,000				5,000,000
Convertible preferred stock, shares issued	0				25,600
Convertible preferred stock, shares outstanding	0				25,600
Common stock, par value	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000				100,000,000
Common stock, shares issued	27,991,042				17,342,922
Common stock, shares outstanding	27,991,042				17,342,922
As Previously Reported [Member]
Convertible preferred stock, par value	$ 0.001				$ 0.001
Convertible preferred stock , shares authorized	5,000,000				5,000,000
Convertible preferred stock, shares issued	0				25,600
Convertible preferred stock, shares outstanding	0				25,600
Common stock, par value	$ 0.001				$ 0.001
Common stock, shares authorized	100,000,000				100,000,000
Common stock, shares issued	27,991,042				17,342,922
Common stock, shares outstanding	27,991,042				17,342,922
Adjustments [Member]
Convertible preferred stock, par value	$ 0.001				$ 0.001
Convertible preferred stock , shares authorized	5,000,000				5,000,000
Convertible preferred stock, shares issued	0				25,600
Convertible preferred stock, shares outstanding	0				25,600
Common stock, par value	$ 0.001				$ 0.001
Common stock, shares authorized	100,000,000				100,000,000
Common stock, shares issued	27,991,042				17,342,922
Common stock, shares outstanding	27,991,042				17,342,922

Equity (Details Narrative)

Equity (Details Narrative) - USD ($)	Mar. 05, 2020	Mar. 02, 2020	Feb. 13, 2020	Jan. 28, 2020	Mar. 07, 2019	Feb. 04, 2019	Jan. 30, 2019	Jun. 30, 2019	Jun. 30, 2020	Mar. 31, 2020	Jun. 30, 2019	Mar. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019
Class of Stock [Line Items]
Number of common stock issued		470,000	3,324,676	3,448,278		3,925,716
Common stock, par value		$ 0.001	$ 0.001	$ 0.001		$ 0.001			$ 0.001				$ 0.001		$ 0.001
Sale of common stock purchase price per shares		$ 9	$ 3.08	$ 1.45		$ 1.40
Issuance of common stock gross proceeds		$ 4,230,000	$ 10,240,002	$ 5,000,003		$ 5,496,002							$ 19,470,005	$ 5,496,002
Net proceeds from issuance of common stock		3,882,420	9,612,561	4,517,102		4,903,238
Offering costs		$ 347,580	$ 627,441	$ 482,901		$ 592,764
Number of common stock issued, value										$ 18,012,083		$ 4,903,238
Warrants exercisable price per share	$ 2
Number of warrants exercised													894,445
Value of shares issued for services											$ 80,400
Professional Services Agreement [Member]
Class of Stock [Line Items]
Number of shares issued for services								100,000
Value of shares issued for services								$ 80,400
Three Companies [Member]
Class of Stock [Line Items]
Number of shares issued for services									9,689
Value of shares issued for services									$ 86,050
Investor [Member]
Class of Stock [Line Items]
Purchase price							$ 1,000,000
Promissory note							$ 2,000,000
Equity ownership percentage							4.99%
Ten Employees and Two Member of Board of Directors [Member]
Class of Stock [Line Items]
Proceeds from stock option exercised									$ 643,465
Number of stock option exercised									420,289
Two Companies [Member]
Class of Stock [Line Items]
Number of shares issued for services										12,363
Value of shares issued for services										$ 31,193
Series A Convertible Preferred Stock [Member]
Class of Stock [Line Items]
Number of common stock issued					2,000
Number of conversion of shares issued										2,560,000
Conversion of preferred stock					100					100
Conversion of preferred stock, price per shares					$ 1.20					$ 1.20
Series A Convertible Preferred Stock [Member] | Investor [Member]
Class of Stock [Line Items]
Number of common stock issued							30,000
Number of common stock issued, value							$ 3,000,000
Warrants [Member]
Class of Stock [Line Items]
Number of common stock issued	25,000									694,492
Stock issued during period, warrant exercised value	$ 50,000
Warrants exercisable price per share									$ 2				$ 2
Number of warrants exercised									110,000	759,445
Proceeds from warrants exercise									$ 220,000
Common Stock [Member]
Class of Stock [Line Items]
Number of common stock issued	25,000				166,667					7,242,954		3,925,716
Number of common stock issued, value										$ 7,243		$ 3,926
Number of conversion of shares issued										2,133,333		166,667
Number of shares issued for services											100,000
Value of shares issued for services											$ 100
Common Stock [Member] | Four Individuals [Member]
Class of Stock [Line Items]
Number of common stock issued									110,000
Common Stock [Member]
Class of Stock [Line Items]
Number of common stock issued									420,289

Stock-based Compensation (Detai

Stock-based Compensation (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation			$ 1,124,242	$ 294,677
Unrecognized stock-based compensation	$ 468,295		468,295
Stock Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock based compensation	301,568	$ 126,483	703,198	214,278
Intrinsic value of options outstanding	$ 15,462,981	$ 72,093	$ 15,462,981	$ 72,093
Unvested option shares outstanding	843,333	566,667	843,333	566,667
Intrinsic value of options and warrants exercised			$ 16,083,097
2015 Long-term Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Aggregate number of common shares reserved	6,000,000		6,000,000
Unissued common stock options authorized shares	3,828,183		3,828,183

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Fair Value of Options Weighted Average Assumptions (Details) - $ / shares	6 Months Ended
	Jun. 30, 2020	Jun. 30, 2019
Share-based Payment Arrangement [Abstract]
Risk free interest rate	1.05%	1.56%
Expected life (years)	7 years 3 months 19 days	10 years
Expected volatility	62.82%	63.65%
Expected dividend yield	0.00%	0.00%
Stock price	$ 8.14	$ 1.07

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Option Activity (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Options Outstanding, Beginning	2,021,817	1,172,707
Options Outstanding, Granted	150,000	890,000
Options Outstanding, Expired
Options Outstanding, Forfeited/Cancelled		(40,890)
Options Outstanding, Exercised	(420,289)
Options Outstanding, Ending	1,751,528	2,021,817
Weighted Average Exercise Price Outstanding, Beginning	$ 1.69	$ 1.85
Weighted Average Exercise Price Granted	8.14	1.07
Weighted Average Exercise Price Expired
Weighted Average Exercise Price Forfeited/Cancelled		3.85
Weighted Average Exercise Price Exercised	1.53
Weighted Average Exercise Price Outstanding, Ending	2.28	1.69
Weighted Average Fair Value Outstanding, Beginning	0.83	1.09
Weighted Average Fair Value Granted	4.70	0.52
Weighted Average Fair Value Expired
Weighted Average Fair Value Forfeited/Cancelled		1.59
Weighted Average Fair Value Exercised	0.79
Weighted Average Fair Value Outstanding, Ending	$ 1.21	$ 0.83
Weighted-average Remaining Contractual Life (years) Outstanding, Beginning	8 years 8 months 23 days	8 years 8 months 19 days
Weighted-average Remaining Contractual Life (years) Granted	7 years 3 months 19 days	9 years 7 months 28 days
Weighted-average Remaining Contractual Life (years) Forfeited/Cancelled	0 years	8 years 15 days
Weighted-average Remaining Contractual Life (years) Exercised	7 years 7 months 13 days	0 years
Weighted-average Remaining Contractual Life (years) Outstanding, Ending	8 years 6 months	8 years 8 months 23 days

Stock-based Compensation - Sc_3

Stock-based Compensation - Schedule of Warrant Activity (Details) - $ / shares	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
Number of Warrants Outstanding, Beginning	983,535	483,535
Number of Warrants Outstanding, Granted	20,000	500,000
Number of Warrants Outstanding, Expired
Number of Warrants Outstanding, Forfeited/Cancelled
Number of Warrants Outstanding, Exercised	(894,445)
Number of Warrants Outstanding, Ending	109,090	983,535
Weighted Average Exercise Price, Beginning	$ 1.44	$ 4.92
Weighted Average Exercise Price, Granted	16.49	1.53
Weighted Average Exercise Price, Expired
Weighted Average Exercise Price, Forfeited/Cancelled
Weighted Average Exercise Price, Exercised	1.37
Weighted Average Exercise Price, Ending	2.06	1.44
Weighted Average Fair Value, Beginning	1.03	1.99
Weighted Average Fair Value, Granted	15.19	1.46
Weighted Average Fair Value, Expired
Weighted Average Fair Value, Forfeited/Cancelled
Weighted Average Fair Value, Exercised	1.05
Weighted Average Fair Value, Ending	$ 1.17	$ 1.03
Weighted-average Remaining Contractual Life (Years), Beginning	3 years 4 months 2 days	3 years 3 months 15 days
Weighted-average Remaining Contractual Life (Years), Granted	5 years	5 years
Weighted-average Remaining Contractual Life (Years), Exercised	2 years 9 months 18 days	0 years
Weighted-average Remaining Contractual Life (Years), Ending	3 years 7 months 13 days	3 years 4 months 2 days

Stock-based Compensation - Sc_4

Stock-based Compensation - Schedule of Unrecognized Stock-based Compensation (Details)	Jun. 30, 2020USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 468,295
2020 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	198,148
2021 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	234,149
2022 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total	$ 35,998

Related Party Transactions (Det

Related Party Transactions (Details Narrative) - Exclusive License Agreement [Member] - USD ($)	Jan. 01, 2017	Jun. 30, 2020
Dr. Satterfield [Member]
Accrued royalties	$ 700,000
Increase in Royalties Payable, per month	$ 10,000
Dr. Brent Satterfield [Member]
Due to related party		$ 200,000

Lease Obligations (Details Narr

Lease Obligations (Details Narrative)	3 Months Ended		6 Months Ended
	Jun. 30, 2020USD ($)a	Jun. 30, 2019USD ($)	Jun. 30, 2020USD ($)a	Jun. 30, 2019USD ($)
Leases [Abstract]
Lease term	4 years		4 years
Area of land | a	13,687		13,687
Payments for rent			$ 28,825
Lease expiration date			Feb. 29, 2024
Rent expenses	$ 86,969	$ 45,040	$ 138,787	$ 90,621

Lease Obligations - Schedule of

Lease Obligations - Schedule of Ongoing Lease Obligation (Details)	Jun. 30, 2020USD ($)
Leases [Abstract]
2020 (remainder)	$ 172,950
2021	345,900
2022	345,900
2023	345,900
2024	57,653
Total lease payments	$ 1,268,303

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	Aug. 31, 2020	Jun. 30, 2020
Inventory finished goods		$ 3,763,472
Subsequent Event [Member]
Inventory finished goods	$ 1,200,000