KORU Medical Systems (KRMD) 10-K 2 Mar 22 2021 FY Annual report Financial data

Cover

Cover - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 28, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Amendment Flag	false
Document Annual Report	true
Document Transition Report	false
Document Period End Date	Dec. 31, 2021
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	0-12305
Entity Registrant Name	REPRO MED SYSTEMS, INC.
Entity Central Index Key	0000704440
Entity Tax Identification Number	13-3044880
Entity Incorporation, State or Country Code	NY
Entity Address, Address Line One	24 CARPENTER ROAD
Entity Address, City or Town	CHESTER
Entity Address, State or Province	NY
Entity Address, Postal Zip Code	10918
City Area Code	845
Local Phone Number	469-2042
Title of 12(b) Security	common stock, $0.01 par value
Trading Symbol	KRMD
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Public Float			$ 120,485,383
Entity Common Stock, Shares Outstanding		44,671,160
Treasury stock, common, shares		3,420,502
Auditor Firm ID	256
Auditor Name	McGrail Merkel Quinn & Associates, P.C.
Auditor Location	Scranton, Pennsylvania

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2021	Dec. 31, 2020
CURRENT ASSETS
Cash and cash equivalents	$ 25,334,889	$ 27,315,286
Accounts receivable less allowance for doubtful accounts of $24,271 and $24,469 for December 31, 2021, and December 31, 2020, respectively	3,592,886	2,572,954
Inventory	6,106,338	6,829,772
Other receivables	718,220
Prepaid expenses and other	1,568,821	807,780
TOTAL CURRENT ASSETS	37,321,154	37,525,792
Property and equipment, net	1,106,445	1,167,623
Intangible assets, net of accumulated amortization of $263,729 and $199,899 at December 31, 2021 and December 31, 2020, respectively	808,813	843,587
Operating lease right-of-use assets	95,553	236,846
Deferred income tax assets, net	1,941,254	125,274
Other assets	19,812	19,812
TOTAL ASSETS	41,293,031	39,918,934
CURRENT LIABILITIES
Accounts payable	1,227,533	624,920
Accrued expenses	2,709,704	2,610,413
Note Payable	508,583
Deferred Revenue	90,000
Accrued payroll and related taxes	160,603	287,130
Finance lease liability – current		2,646
Operating lease liability – current	95,553	141,293
TOTAL CURRENT LIABILITIES	4,791,976	3,666,402
Operating lease liability, net of current portion		95,553
TOTAL LIABILITIES	4,791,976	3,761,955
STOCKHOLDERS’ EQUITY
Common stock, $0.01 par value, 75,000,000 shares authorized, 48,044,162 and 46,680,119 shares issued; 44,623,660 and 43,259,617 shares outstanding at December 31, 2021, and December 31, 2020, respectively	480,441	466,801
Additional paid-in capital	40,774,245	35,880,986
Treasury stock, 3,420,502 shares at December 31, 2021 and December 31, 2020, at cost	(3,843,562)	(3,843,562)
Retained (deficit)/earnings	(910,069)	3,652,754
TOTAL STOCKHOLDERS’ EQUITY	36,501,055	36,156,979
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 41,293,031	$ 39,918,934

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts Receivable, Allowance for Credit Loss, Current	$ 24,271	$ 24,469
Finite-Lived Intangible Assets, Accumulated Amortization	$ 263,729	$ 199,899
Common Stock, Par or Stated Value Per Share	$ 0.01	$ 0.01
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares, issued	48,044,162	46,680,119
Common stock, shares, outstanding	44,623,660	43,259,617
Treasury Stock, Shares	3,420,502	3,420,502

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
NET REVENUES	$ 23,490,175	$ 24,176,448
Cost of goods sold	9,720,597	9,240,362
Gross Profit	13,769,578	14,936,086
OPERATING EXPENSES
Selling, general and administrative	17,862,314	12,028,309
Litigation		2,447,213
Research and development	2,473,669	1,296,754
Depreciation and amortization	463,130	418,595
Total Operating Expenses	20,799,113	16,190,871
Net Operating Loss	(7,029,535)	(1,254,785)
Non-Operating Income
Gain/(Loss) on foreign currency exchange	(28,905)	1,536
Gain on disposal of fixed assets	1,009	16,591
Other Income	679,907
Interest income, net	13,083	42,395
TOTAL OTHER INCOME	665,094	60,522
LOSS BEFORE TAXES	(6,364,441)	(1,194,263)
Income tax benefit/(expense)	1,801,618	(17,800)
NET LOSS	$ (4,562,823)	$ (1,212,063)
NET LOSS PER SHARE
Basic	$ (0.10)	$ (0.03)
Diluted	$ (0.10)	$ (0.03)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING
Basic	44,385,032	41,929,736
Diluted	44,385,032	41,929,736

STATEMENTS OF STOCKHOLDERS' EQU

STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Treasury Stock [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 422,398	$ 6,293,069	$ 4,864,817	$ (344,204)	$ 11,236,080
Balance beginning (in shares) at Dec. 31, 2019	42,239,788
Issuance of stock-based compensation	$ 322	240,638			240,960
Issuance of stock-based compensation (in shares)	32,181
Compensation expense related to stock options		1,377,772			1,377,772
Litigation settlement options		347,008			347,008
Litigation settlement share issuance	$ 952	937,142			938,094
Litigation settlement share issuance (in shares)	95,238
Repurchases of shares				(3,499,358)	(3,499,358)
Issuance upon options exercised	$ 7,191	88,689			95,880
Issuance upon options exercised (in shares)	719,162
Capital raise	$ 35,938	26,596,668			26,632,606
Capital raise (in shares)	3,593,750
Net loss			(1,212,063)		(1,212,063)
Ending balance, value at Dec. 31, 2020	$ 466,801	35,880,986	3,652,754	(3,843,562)	36,156,979
Balance ending (in shares) at Dec. 31, 2020	46,680,119
Issuance of stock-based compensation	$ 958	432,696			433,654
Issuance of stock-based compensation (in shares)	95,725
Compensation expense related to stock options		2,049,041			2,049,041
Litigation settlement share issuance	$ 952	937,142			938,094
Litigation settlement share issuance (in shares)	95,238
Issuance upon options exercised	$ 11,730	1,249,521			1,261,251
Issuance upon options exercised (in shares)	1,173,080
Net loss			(4,562,823)		(4,562,823)
Issuance of Restricted Stock		224,859			224,859
Ending balance, value at Dec. 31, 2021	$ 480,441	$ 40,774,245	$ (910,069)	$ (3,843,562)	$ 36,501,055
Balance ending (in shares) at Dec. 31, 2021	48,044,162

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
CASH FLOWS FROM OPERATING ACTIVITIES
Net Loss	$ (4,562,823)	$ (1,212,063)
Adjustments to reconcile net (loss) to net cash used in operating activities:
Stock-based compensation expense	2,707,554	1,618,732
Stock-based litigation settlement expense		1,285,102
Depreciation and amortization	463,130	418,595
Gain on disposal of fixed assets	(1,009)	(16,591)
Deferred income taxes	(1,815,980)	62,967
Provision for doubtful accounts		(8,176)
Abandonment of intangible assets		41,919
Changes in operating assets and liabilities:
(Increase)/Decrease in accounts receivable	(1,019,932)	669,743
Decrease/(Increase) in inventory	723,434	(4,441,295)
Increase in other receivables	(718,220)
Increase in prepaid expenses and other assets	(761,041)	(420,614)
Increase in accounts payable	602,613	52,264
(Decrease)/Increase in accrued payroll and related taxes	(126,527)	96,865
Increase in deferred revenue	90,000
Increase in accrued expenses	99,291	1,313,801
Decrease in accrued tax liability		(204,572)
NET CASH USED IN OPERATING ACTIVITIES	(4,319,510)	(743,323)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment	(346,178)	(920,604)
Purchases of intangible assets	(29,056)	(140,548)
Proceeds from disposal of property and equipment	9,065	25,000
NET CASH USED IN INVESTING ACTIVITIES	(366,169)	(1,036,152)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of equity	1,261,251	26,728,486
Common stock issuance settlement of litigation	938,094
Purchase of treasury stock		(3,499,358)
Borrowings from indebtedness	924,389	4,976,508
Payments on indebtedness	(415,806)	(4,976,508)
Payments on finance lease liability	(2,646)	(5,296)
NET CASH PROVIDED BY FINANCING ACTIVITIES	2,705,282	23,223,832
NET (DECREASE)/INCREASE IN CASH AND CASH EQUIVALENTS	(1,980,397)	21,444,357
CASH AND CASH EQUIVALENTS, BEGINNING OF YEAR	27,315,286	5,870,929
CASH AND CASH EQUIVALENTS, END OF YEAR	25,334,889	27,315,286
Cash paid during the years 5for:
Interest	13,241	27,736
Income taxes	1,903	321,983
Schedule of Non-Cash Operating, Investing and Financing Activities:
Issuance of common stock as compensation	433,654	240,960
Issuance of common stock as settlement for litigation	$ 938,094	$ 938,094

NATURE OF OPERATIONS AND SUMMAR

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE 1 — NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NATURE OF OPERATIONS REPRO MED SYSTEMS, INC. (the “Company,” “KORU Medical,” “KORU,” “we,” “us” or “our”) designs, manufactures and markets proprietary portable and innovative medical devices primarily for the ambulatory infusion market as governed by the United States Food and Drug Administration (the “FDA”) quality and regulatory system and international standards for quality system management. The Company operates as one BASIS OF PRESENTATION We prepare our financial statements and accompanying notes in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain prior year amounts have been reclassified to conform to the current year presentation in our Financial Statements. CASH AND CASH EQUIVALENTS For purposes of the statement of cash flows, the Company considers all short-term investments with an original maturity of three months or less to be cash equivalents. The Company holds cash in excess of $ 250,000 I NVENTORY Inventories of raw materials are stated at the lower of standard cost, which approximates average cost, or market value including allocable overhead. Work-in-process and finished goods are stated at the lower of standard cost or market value and include direct labor and allocable overhead. We maintain reserves for excess and obsolete inventory resulting from the potential inability to sell certain products at prices in excess of current carrying costs. We make estimates regarding the future recoverability of the costs of these products and record provisions based on historical experience, expiration of sterilization dates and expected future trends. If actual product life cycles, product demand or acceptance of new product introductions are less favorable than projected by management, additional inventory write downs may be required, which could unfavorably affect future operating results. INTANGIBLE ASSETS Certain of our identifiable intangible assets, including patents and trademarks, are amortized using the straight-line method over their estimated useful lives which range from 6 20 63,830 62,177 The estimated amortization expense for the succeeding years for the intangible assets is approximately: Schedule of amortization expense Year Ending December 31, 2022 $ 60,617 2023 59,842 2024 59,842 2025 59,842 2026 59,842 Thereafter 508,828 Total amortization expense $ 808,813 INCOME TAXES Deferred income taxes are provided using the liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. The Company believes that it has no uncertain tax positions requiring disclosure or adjustment. PROPERTY AND EQUIPMENT Property and equipment are stated at original acquisition cost less accumulated depreciation. Additions and improvements are capitalized which increase the value or extend the life of an asset, while maintenance and repair costs are expensed as incurred. When assets are retired or otherwise disposed, the cost and related accumulated depreciation or amortization is removed from the respective accounts and any resulting gain or loss is included in income. Depreciation and amortization are calculated on the straight-line basis over the estimated useful lives of the assets which generally range from 3 10 3 12 399,300 356,418 STOCK-BASED COMPENSATION The Company maintains a stock option plan under which it grants stock options to certain executives, key employees and consultants. The fair value of each option grant is estimated on the date of the grant using the Black-Scholes option-pricing model. All options are charged against income at their fair value. The entire compensation expense of the award is recognized over the vesting period. Shares of stock granted for director fees are recorded at the fair value of the shares at the grant date. The Company also maintains an omnibus equity incentive plan. To date the Company has only granted shares of stock for director fees under this plan and those shares of stock granted are recorded at the fair value of the shares at the grant date. The Company issues restricted stock awards. Restricted stock awards are equity classified and measured at the fair market value of the underlying stock at the grant date. The fair value of restricted stock awards vesting at certain market capitalization thresholds were estimated on the date of grant using the Brownian Motion Monte Carlo lattice model. The fair value of restricted stock awards with time-based vesting were estimated on the date of grant at the current stock price. We recognize restricted stock expense using the straight-line attribution method over the requisite service period and account for forfeitures as they occur. NET LOSS PER COMMON SHARE Basic earnings per share are computed on the weighted average of common shares outstanding during each year. Diluted earnings per share includes only an increase in the weighted average shares by the common shares issuable upon exercise of stock options. Schedule of net income per common share Years Ended December 31, 2021 December 31, 2020 Net loss $ (4,562,823 ) $ (1,212,063 ) Weighted Average Outstanding Shares: Outstanding shares 44,385,032 41,929,736 Option shares includable — (a) — (a) 44,385,032 41,929,736 Net loss per share Basic $ (0.10 ) $ (0.03 ) Diluted $ (0.10 ) $ (0.03 ) __________ (a) Option shares of 273,110 239,935 USE OF ESTIMATES IN THE FINANCIAL STATEMENTS The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Important estimates include but are not limited to asset lives, valuation allowances, inventory valuation, and accruals. REVENUE RECOGNITION The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers The Company’s revenues result from the sale of assembled products. We recognize revenues when shipment occurs, and at which point the customer obtains control and ownership of the goods. Shipping costs generally are billed to customers and are included in sales. The Company generally does not accept return of goods shipped unless it is a Company error. The only credits provided to customers are for defective merchandise. The Company warrants the syringe driver from defects in materials and workmanship under normal use and the warranty does not include a performance obligation. The costs under the warranty are expensed as incurred. Provisions for distributor pricing and annual customer growth rebates are variable consideration and are recorded as a reduction of revenue in the same period the related sales are recorded or when it is probable the annual growth target will be achieved. Rebates are provided to distributors for the difference in selling price to distributor and pricing specified to select customers. The Company established an allowance for charging off uncollectible trade accounts receivable that have both of the following characteristics: (a) They have a contractual maturity of one year or less, (b) They arose from the sale of goods or services. The following table summarizes net revenues by geography for the years ended December 31, 2021 and 2020: Schedule of net sales by geography Years Ended December 31, 2021 2020 Net Revenues Domestic $ 19,488,685 $ 20,678,453 International 4,001,490 3,497,995 Total $ 23,490,175 $ 24,176,448 LEASES In February 2016, the FASB issued a standard related to leases to increase transparency and comparability among organizations by requiring the recognition of right-of-use (“ROU”) assets and lease liabilities on the balance sheet. Most prominent among the changes in the standard is the recognition of ROU assets and lease liabilities by the Company for those leases classified as operating leases under current GAAP, while our accounting for capital leases remains substantially unchanged. Under the standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The standard became effective for us on January 1, 2019. The standard had a material impact on our balance sheets but did not have a material impact on our statements of operations. See “NOTE 5 — ACCOUNTING PRONOUNCEMENTS RECENTLY ADOPTED In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) The Company considers the applicability and impact of all recently issued accounting pronouncements. Recent accounting pronouncements not specifically identified in our disclosures are either not applicable to the Company or are not expected to have a material effect on our financial condition or results of operations. FAIR VALUE MEASUREMENTS Fair value is the exit price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement that should be determined using assumptions that market participants would use in pricing an asset or liability. Valuation techniques used to measure fair value should maximize the use of observable inputs and minimize the use of unobservable inputs. To measure fair value, the Company uses the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Inputs other than Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Value is determined using pricing models, discounted cash flow methodologies, or similar techniques and includes instruments for which the determination of fair value requires significant judgment or estimation. The carrying amounts of cash and cash equivalents, accounts receivable, prepaid expenses, accounts payable and accrued expenses are considered to be representative of their fair values because of the short-term nature of those instruments. There were no transfers between levels in the fair value hierarchy during the year ended December 31, 2021. IMPAIRMENT OF LONG-LIVED ASSETS The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than the carrying amount. The impairment loss, if recognized, would be based on the excess of the carrying value of the impaired asset over its respective fair value. No impairment losses have been recorded through December 31, 2021.

INVENTORY

INVENTORY	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
INVENTORY	NOTE 2 — INVENTORY Inventory consists of: December 31, 2021 December 31, 2020 Raw materials and work-in-process $ 2,997,807 $ 2,279,054 Finished goods 3,176,836 4,562,315 Total 6,174,643 6,841,369 Less: reserve for obsolete inventory (68,305 ) (11,597 ) Inventory, net $ 6,106,338 $ 6,829,772

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	NOTE 3 — PROPERTY AND EQUIPMENT Property and equipment consists of the following at: December 31, 2021 December 31, 2020 Furniture and office equipment $ 818,897 $ 753,536 Leasehold improvements 556,907 542,796 Manufacturing equipment and tooling 2,042,675 1,856,909 Total property and equipment 3,418,479 3,153,241 Less: accumulated depreciation and amortization (2,312,034 ) (1,985,618 ) Property and equipment, net $ 1,106,445 $ 1,167,623

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	NOTE 4 — STOCK-BASED COMPENSATION The Company has two equity incentive plans: the 2015 Stock Option Plan, as amended (the “2015 Plan”) and the 2021 Omnibus Equity Incentive Plan (the “2021 Plan”). As of December 31, 2021, there were options to purchase 3,672,500 2,000,000 6,000,000 1,000,000 59,658 Prior to January 1, 2021, each non-employee director of the Company was eligible to receive $ 50,000 10,000 50,000 Effective January 1, 2021, each non-employee director of the Company (other than the Chairman of the Board) and Board advisor were eligible to receive of $75,000 to be paid quarterly $12,500 in cash and $6,250 in common stock 100,000 110,000 to be paid quarterly $12,500 in cash and $15,000 in common stock 140,000 to be paid quarterly $12,500 in cash and $22,500 in common stock On May 20, 2020, the Company entered into a Settlement Agreement with EMED Technologies Corporation (“EMED”) to settle all claims in connection with all pending litigation matters between them. Pursuant to the Settlement Agreement, the Company issued to EMED (i) 95,238 restricted stock units, which vested on May 21, 2020, and 95,238 restricted stock units, which vested on January 1, 2021, and (ii) an option to purchase up to 400,000 shares of the Company’s common stock at an exercise price of $11.21 per share prior to February 1, 2021, which was not exercised. On April 12, 2021, pursuant to an employment agreement entered into on March 15, 2021, with Linda Tharby, the Company’s President and Chief Executive Officer, the Company issued three restricted stock awards for an aggregate 1,000,000 3,310,000 2015 STOCK OPTION PLAN, as amended Time-Based Stock Options The per share weighted average fair value of stock options granted during the years ended December 31, 2021, and December 31, 2020 was $ 2.85 6.53 We have recognized tax benefits associated with stock-based compensation of $ 175,257 62,393 Schedule of fair value of the stock options granted Black-Scholes option valuation model December 31, 2021 December 31, 2020 Dividend yield 0.00 0.00 Expected volatility 74.01 77.91 62.11 62.18 Weighted-average volatility — — Expected dividends — — Expected term (in years) 10 10 Risk-free rate 1.20 1.62 0.63 0.64 The following table summarizes the status of the Company’s stock option plan: Schedule of stock option plan December 31, 2021 December 31, 2020 Shares Weighted Shares Weighted Outstanding at January 1 2,922,494 $ 2.46 3,647,000 $ 1.32 Granted 2,000,000 $ 3.64 360,000 $ 9.54 Exercised 1,062,500 $ 1.19 884,506 $ 0.71 Forfeited 187,494 $ 3.36 200,000 $ 2.09 Outstanding at year end 3,672,500 $ 3.42 2,922,494 $ 2.46 Options exercisable 983,750 $ 2.73 906,244 $ 1.40 Weighted average fair value of options granted during the period — $ 2.85 — $ 6.53 Stock-based compensation expense — $ 2,457,788 — $ 874,869 Total stock-based compensation expense, net of forfeitures, for stock option awards totaled $ 2,457,788 874,869 1,261,251 95,880 The weighted-average grant-date fair value of options granted during the years ended December 31, 2021, and 2020, was $ 5,699,986 2,350,264, 697,920 397,962 The following table presents information pertaining to options outstanding as of December 31, 2021: Schedule of information pertaining to options outstanding Range of Exercise Price Number Weighted Weighted Number Weighted $1.57 - $9.76 3,672,500 8.5 $ 3.42 983,750 $ 2.73 As of December 31, 2021, there was $ 6,158,501 46 1,923,179 803,171 Performance-Based Stock Options There were no performance-based stock options granted during the twelve months ended December 31, 2021, and 2020. The following table summarizes the status of the 2015 Plan with respect to performance-based stock options as of December 31, 2021: Schedule of performance base options outstanding December 31, 2021 December 31, 2020 Shares Weighted Shares Weighted Outstanding at January 1 1,000,000 $ 1.70 1,000,000 $ 1.70 Granted — $ — — $ — Exercised — $ — — $ — Forfeited 1,000,000 $ 1.70 — $ — Outstanding at year end — $ — 1,000,000 $ 1.70 Options exercisable — $ — 333,333 $ 1.70 Weighted average fair value of options granted during the period — $ — — $ — Stock-based compensation expense — $ (408,747 ) — $ 502,904 Total performance stock-based compensation expense totaled $ (408,747) 502,904 no RESTRICTED STOCK AWARDS On April 12, 2021, pursuant to an employment agreement entered into on March 15, 2021, with Linda Tharby, the Company’s President and Chief Executive Officer and as an inducement to her employment, the Company issued three restricted stock awards for an aggregate 1,000,000 3,310,000 The following table summarizes the activities for our unvested restricted stock awards for the twelve months ended December 31, 2021, and 2020. Twelve Months Ended December 31, 2021 2020 Shares Weighted Shares Weighted Unvested at January 1 — $ — — $ — Granted 1,000,000 $ 3.01 — $ — Vested — $ — — $ — Forfeited/canceled — $ — — $ — Unvested at December 31 1,000,000 $ 3.01 — $ — As of December 31, 2021, there was $ 2,299,726 39 47,220 zero

LEASES

LEASES	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
LEASES	NOTE 5 — LEASES We have finance and operating leases for our corporate office and certain office and computer equipment. Our leases have remaining lease terms of 0.6 years, some of which include options to extend the leases annually and some with options to terminate the leases within 1 At contract inception, we evaluate whether an arrangement is or contains a lease for which we are the lessee (that is, arrangements which provide us with the right to control a physical asset for a period of time). Operating leases are accounted for on the balance sheets with ROU assets being recognized in “Operating lease right-of-use assets” and lease liabilities recognized in “Operating lease liability – current” and “Operating lease liability, net of current portion.” Finance leases are accounted for on the balance sheets recognized in “Property and equipment, net” and lease liabilities recognized in “Finance lease liability – current” and “Finance lease liability, net of current portion.” Operating lease expenses are recognized on a straight-line basis over the lease term. With respect to finance leases, amortization of the ROU asset is presented separately from interest expense related to the finance lease liability. We have elected to combine lease and non-lease components for all lease contracts where we are the lessee. Additionally, for arrangements with lease terms of 12 months or less, we do not recognize ROU assets and lease liabilities and lease payments are recognized on a straight-line basis over the lease term with variable lease payments recognized in the period in which the obligation is incurred. ROU assets are measured for impairment when a triggering event occurs. The components of lease expense were as follows: Schedule of components of lease expense Years Ended December 31, 2021 2020 Operating lease cost $ 149,476 $ 151,686 Short-term lease cost 146,604 65,227 Total lease cost $ 296,080 $ 216,913 Finance lease cost: Amortization of right-of-use assets $ 2,586 $ 5,302 Interest on lease liabilities 60 237 Total finance lease cost $ 2,646 $ 5,539 Supplemental cash flow information related to leases was as follows: Schedule of cash flow information related to leases Years Ended December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 141,293 $ 136,888 Financing cash flows from finance leases $ 2,646 $ 5,296 Supplemental balance sheet information related to leases was as follows: Schdeule of balance sheet information related to leases December 31, December 31, Operating Leases Operating lease right-of-use assets $ 95,553 $ 236,846 Operating lease liability - current 95,553 141,293 Operating lease liability, net of current portion — 95,553 Total operating lease liabilities $ 95,553 $ 236,846 Finance Leases Property and equipment, at cost $ 12,725 $ 12,725 Accumulated depreciation (12,725 ) (10,139 ) Property and equipment, net $ — $ 2,586 Finance lease liability – current — 2,646 Finance lease liability, net of current portion — — Total finance lease liabilities $ — $ 2,646 December 31, December 31, Weighted Average Remaining Lease Term Operating leases 0.6 1.4 Finance leases 0 0.7 Weighted Average Discount Rate Operating leases 4.75 4.75 Finance leases 4.75 4.75 Maturities of lease liabilities are as follows: Schedule of maturities of lease liabilities Year Ending December 31, Operating Leases Finance Leases 2022 97,256 — 2023 — — 2024 — — 2025 — — Thereafter — — Total undiscounted lease payments 97,256 Less: imputed interest (1,703 ) — Total lease liabilities $ 95,553 $ —

FEDERAL AND STATE INCOME TAXES

FEDERAL AND STATE INCOME TAXES	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
FEDERAL AND STATE INCOME TAXES	NOTE 6 — FEDERAL AND STATE INCOME TAXES Income tax expense consisted of the following: Schedule of provision for income taxes Year Ended Year Ended State income tax: Current, net of refund $ (12,800 ) $ (17,800 ) Federal income tax: Deferred 1,814,418 (62,967 ) Current — 62,967 Income tax benefit/(expense) $ 1,801,618 $ (17,800 ) The reconciliation of income taxes shown in the financial statements and amounts computed by applying the Federal expected tax rate of 21% for year 2021 and 2020 is as follows: Schedule of reconciliation of income taxes Year Ended Year Ended Loss before taxes $ (6,364,441 ) $ (1,194,263 ) Income taxes computed at the federal statutory rate $ 1,336,533 $ 250,795 State income and franchise tax (12,800 ) (17,800 ) Permanent differences and other 477,885 (250,795 ) Income tax benefit/(expense) $ 1,801,618 $ (17,800 ) The significant components of deferred income tax assets, net are as follows: Schedule of components of deferred tax assets December 31, December 31, Deferred compensation cost $ 389,981 $ 239,036 Depreciation and amortization (116,911 ) (135,092 ) R&D credit 142,538 NOL 1,507,982 Allowance for bad debts and other 17,664 21,330 Deferred income tax assets, net $ 1,941,254 $ 125,274 Our U.S. federal and state income tax returns remain open to examination for the tax years 2018 through 2021.

MAJOR CUSTOMERS

MAJOR CUSTOMERS	12 Months Ended
	Dec. 31, 2021
Risks and Uncertainties [Abstract]
MAJOR CUSTOMERS	NOTE 7 — MAJOR CUSTOMERS For the years ended December 31, 2021 and December 31, 2020, approximately 41 51 The largest customer in both years is a domestic medical products and supplies distributor. Although, a number of larger infusion customers have elected to consolidate their purchases through one or more distributors in recent years, we continue to maintain strong direct relationships with them. We do not believe that their continued purchase of FREEDOM System products and related supplies is contingent upon the distributor.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	NOTE 8 — COMMITMENTS AND CONTINGENCIES LEGAL PROCEEDINGS The Company has been and may again become involved in legal proceedings, claims and litigation arising in the ordinary course of business. Except as described below, KORU Medical is not presently a party to any litigation or other legal proceeding that is believed to be material to its financial condition. Litigation From 2013 until May 2020, we were involved in several lawsuits with our principal competitor, EMED. EMED alleged that our needle sets infringed various patents controlled by EMED. Certain of these lawsuits also alleged antitrust violations, unfair business practices, and various other business tort claims. On May 26, 2020, the parties announced the settlement of all of the litigation between KORU Medical and EMED. The settlement agreement provides KORU Medical with freedom to operate under EMED’s existing patent portfolio, dismissal of all litigation with prejudice (including the claims against Andrew Sealfon, our former President and Chief Executive Officer), and an equity payment by KORU Medical to EMED. Refer to our Form 10-Q for the quarterly period ended June 30, 2020 regarding the dismissed case with our principal competitor, EMED. OTHER On November 11, 2020, the Company entered into a Manufacturing and Supply Agreement with Command Medical Products, Inc. (“Command”), pursuant to which Command has agreed to manufacture and supply the Company’s subassemblies, needle sets and tubing products pursuant to the Company’s specifications and purchase orders. The first binding purchase order pursuant to the Manufacturing and Supply Agreement was made on November 17, 2020 (the “Effective Date”). The Manufacturing and Supply Agreement provides for a term of five years from the Effective Date. Either party may terminate the Manufacturing and Supply Agreement upon a material breach by the other Party that has not been cured within 90 days, upon the bankruptcy or insolvency of the other Party or as expressly set forth elsewhere in the Agreement. If the Company terminates the Manufacturing and Supply Agreement other than for those reasons within the first three years from the Effective Date, the Company is obligated to pay an early termination fee to Command. The Manufacturing and Supply Agreement also includes customary provisions relating to, among other things, delivery, inspection procedures, warranties, quality management, business continuity plans, handling and transport, intellectual property, confidentiality and indemnification.

EMPLOYEE BENEFITS

EMPLOYEE BENEFITS	12 Months Ended
	Dec. 31, 2021
Retirement Benefits [Abstract]
EMPLOYEE BENEFITS	NOTE 9 — EMPLOYEE BENEFITS We provide a safe harbor 401(k) plan for our employees that allows for employee elective contributions, Company matching contributions and discretionary profit-sharing contributions. Employee elective contributions are funded through voluntary payroll deductions. The Company makes safe harbor matching contributions in an amount equal to 100% of the employee’s contribution, not to exceed 3% of employee’s compensation plus 50% of employee’s pay contributed between 3% and 5% of employee’s compensation 166,014 156,789

DEBT OBLIGATIONS

DEBT OBLIGATIONS	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
DEBT OBLIGATIONS	NOTE 10 — DEBT OBLIGATIONS On July 26, 2021, the Company entered into a commercial insurance premium finance and security agreement with AON Premium Finance, LLC in the aggregate principal amount of $ 0.9 million 4.17 On April 14, 2020, the Company issued a promissory note to KeyBank in the aggregate principal amount of $ 3.5 million 3.5 million Prime Rate announced by the Bank minus 0.75 Prime Rate announced by the Bank minus 1.50 June 1, 2022 any time prior to maturity with no prepayment penalties 3.5 million In connection with the Note, the Company entered into a Commercial Security Agreement with the Bank dated April 14, 2020 (the “Security Agreement”), pursuant to which the Company granted a security interest in substantially all assets of the Company to secure the obligations of the Company under the Note. The Security Agreement contains terms and conditions typical for the granting of security interests of this kind. The Company had no amount outstanding against the line of credit as of December 31, 2021. On April 27, 2020, the Company entered into a Progress Payment Loan and Security Agreement (“PPLSA”) and a Master Security Agreement (the “MSA”), each dated as of April 20, 2020, with Key Equipment Finance, a division of the Bank (“KEF”), to provide up to $ 2.5 million fixed rate of 4.07% per annum 84 equal consecutive monthly installments

EQUITY

EQUITY	12 Months Ended
	Dec. 31, 2021
Equity [Abstract]
EQUITY	NOTE 11 — EQUITY On June 18, 2020, the Company entered into a Purchase Agreement with Piper Sandler & Co. and Canaccord Genuity LLC, as representatives of the several underwriters named therein (the “Underwriters”), pursuant to which the Company agreed to issue and sell 3,125,000 30 468,750 June 19, 2020 7.52 26.6 million On November 16, 2020, the Company announced that its Board of Directors had authorized a stock repurchase program under which the Company may purchase up to $ 10.0 million 683,271

SUBSEQUENT EVENT

SUBSEQUENT EVENT	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENT	NOTE 12 — SUBSEQUENT EVENT We have entered into a lease for a new facility located at 100 Corporate Drive, Mahwah, New Jersey to serve as our headquarters and for our general operations. We expect to move out of our current building into this 43,975 square foot facility in June 2022. The new lease term commences March 1, 2022 and expires August 31, 2032. Our monthly base rent is approximately $38,000 in the first year 50,000 On February 16, 2022, we extended our current facility lease at 24 Carpenter Road, Chester, New York, which expires on August 31, 2022, to December 31, 2022 to ensure continuity as we transition to our new location in Mahwah, New Jersey.

NATURE OF OPERATIONS AND SUMM_2

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS REPRO MED SYSTEMS, INC. (the “Company,” “KORU Medical,” “KORU,” “we,” “us” or “our”) designs, manufactures and markets proprietary portable and innovative medical devices primarily for the ambulatory infusion market as governed by the United States Food and Drug Administration (the “FDA”) quality and regulatory system and international standards for quality system management. The Company operates as one
BASIS OF PRESENTATION	BASIS OF PRESENTATION We prepare our financial statements and accompanying notes in accordance with accounting principles generally accepted in the United States of America (“GAAP”). Certain prior year amounts have been reclassified to conform to the current year presentation in our Financial Statements.
CASH AND CASH EQUIVALENTS	CASH AND CASH EQUIVALENTS For purposes of the statement of cash flows, the Company considers all short-term investments with an original maturity of three months or less to be cash equivalents. The Company holds cash in excess of $ 250,000
NVENTORY	I NVENTORY Inventories of raw materials are stated at the lower of standard cost, which approximates average cost, or market value including allocable overhead. Work-in-process and finished goods are stated at the lower of standard cost or market value and include direct labor and allocable overhead. We maintain reserves for excess and obsolete inventory resulting from the potential inability to sell certain products at prices in excess of current carrying costs. We make estimates regarding the future recoverability of the costs of these products and record provisions based on historical experience, expiration of sterilization dates and expected future trends. If actual product life cycles, product demand or acceptance of new product introductions are less favorable than projected by management, additional inventory write downs may be required, which could unfavorably affect future operating results.
INTANGIBLE ASSETS	INTANGIBLE ASSETS Certain of our identifiable intangible assets, including patents and trademarks, are amortized using the straight-line method over their estimated useful lives which range from 6 20 63,830 62,177 The estimated amortization expense for the succeeding years for the intangible assets is approximately: Schedule of amortization expense Year Ending December 31, 2022 $ 60,617 2023 59,842 2024 59,842 2025 59,842 2026 59,842 Thereafter 508,828 Total amortization expense $ 808,813
INCOME TAXES	INCOME TAXES Deferred income taxes are provided using the liability method whereby deferred tax assets are recognized for deductible temporary differences and operating loss and tax credit carry forwards and deferred tax liabilities are recognized for taxable temporary differences. The Company believes that it has no uncertain tax positions requiring disclosure or adjustment.
PROPERTY AND EQUIPMENT	PROPERTY AND EQUIPMENT Property and equipment are stated at original acquisition cost less accumulated depreciation. Additions and improvements are capitalized which increase the value or extend the life of an asset, while maintenance and repair costs are expensed as incurred. When assets are retired or otherwise disposed, the cost and related accumulated depreciation or amortization is removed from the respective accounts and any resulting gain or loss is included in income. Depreciation and amortization are calculated on the straight-line basis over the estimated useful lives of the assets which generally range from 3 10 3 12 399,300 356,418
STOCK-BASED COMPENSATION	STOCK-BASED COMPENSATION The Company maintains a stock option plan under which it grants stock options to certain executives, key employees and consultants. The fair value of each option grant is estimated on the date of the grant using the Black-Scholes option-pricing model. All options are charged against income at their fair value. The entire compensation expense of the award is recognized over the vesting period. Shares of stock granted for director fees are recorded at the fair value of the shares at the grant date. The Company also maintains an omnibus equity incentive plan. To date the Company has only granted shares of stock for director fees under this plan and those shares of stock granted are recorded at the fair value of the shares at the grant date. The Company issues restricted stock awards. Restricted stock awards are equity classified and measured at the fair market value of the underlying stock at the grant date. The fair value of restricted stock awards vesting at certain market capitalization thresholds were estimated on the date of grant using the Brownian Motion Monte Carlo lattice model. The fair value of restricted stock awards with time-based vesting were estimated on the date of grant at the current stock price. We recognize restricted stock expense using the straight-line attribution method over the requisite service period and account for forfeitures as they occur.
NET LOSS PER COMMON SHARE	NET LOSS PER COMMON SHARE Basic earnings per share are computed on the weighted average of common shares outstanding during each year. Diluted earnings per share includes only an increase in the weighted average shares by the common shares issuable upon exercise of stock options. Schedule of net income per common share Years Ended December 31, 2021 December 31, 2020 Net loss $ (4,562,823 ) $ (1,212,063 ) Weighted Average Outstanding Shares: Outstanding shares 44,385,032 41,929,736 Option shares includable — (a) — (a) 44,385,032 41,929,736 Net loss per share Basic $ (0.10 ) $ (0.03 ) Diluted $ (0.10 ) $ (0.03 ) __________ (a) Option shares of 273,110 239,935
USE OF ESTIMATES IN THE FINANCIAL STATEMENTS	USE OF ESTIMATES IN THE FINANCIAL STATEMENTS The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Important estimates include but are not limited to asset lives, valuation allowances, inventory valuation, and accruals.
REVENUE RECOGNITION	REVENUE RECOGNITION The Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, Revenue from Contracts with Customers The Company’s revenues result from the sale of assembled products. We recognize revenues when shipment occurs, and at which point the customer obtains control and ownership of the goods. Shipping costs generally are billed to customers and are included in sales. The Company generally does not accept return of goods shipped unless it is a Company error. The only credits provided to customers are for defective merchandise. The Company warrants the syringe driver from defects in materials and workmanship under normal use and the warranty does not include a performance obligation. The costs under the warranty are expensed as incurred. Provisions for distributor pricing and annual customer growth rebates are variable consideration and are recorded as a reduction of revenue in the same period the related sales are recorded or when it is probable the annual growth target will be achieved. Rebates are provided to distributors for the difference in selling price to distributor and pricing specified to select customers. The Company established an allowance for charging off uncollectible trade accounts receivable that have both of the following characteristics: (a) They have a contractual maturity of one year or less, (b) They arose from the sale of goods or services. The following table summarizes net revenues by geography for the years ended December 31, 2021 and 2020: Schedule of net sales by geography Years Ended December 31, 2021 2020 Net Revenues Domestic $ 19,488,685 $ 20,678,453 International 4,001,490 3,497,995 Total $ 23,490,175 $ 24,176,448
LEASES	LEASES In February 2016, the FASB issued a standard related to leases to increase transparency and comparability among organizations by requiring the recognition of right-of-use (“ROU”) assets and lease liabilities on the balance sheet. Most prominent among the changes in the standard is the recognition of ROU assets and lease liabilities by the Company for those leases classified as operating leases under current GAAP, while our accounting for capital leases remains substantially unchanged. Under the standard, disclosures are required to meet the objective of enabling users of financial statements to assess the amount, timing, and uncertainty of cash flows arising from leases. The standard became effective for us on January 1, 2019. The standard had a material impact on our balance sheets but did not have a material impact on our statements of operations. See “NOTE 5 —
ACCOUNTING PRONOUNCEMENTS RECENTLY ADOPTED	ACCOUNTING PRONOUNCEMENTS RECENTLY ADOPTED In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes
ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED	ACCOUNTING PRONOUNCEMENTS NOT YET ADOPTED In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848) The Company considers the applicability and impact of all recently issued accounting pronouncements. Recent accounting pronouncements not specifically identified in our disclosures are either not applicable to the Company or are not expected to have a material effect on our financial condition or results of operations.
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair value is the exit price that would be received to sell an asset or paid to transfer a liability. Fair value is a market-based measurement that should be determined using assumptions that market participants would use in pricing an asset or liability. Valuation techniques used to measure fair value should maximize the use of observable inputs and minimize the use of unobservable inputs. To measure fair value, the Company uses the following fair value hierarchy based on three levels of inputs, of which the first two are considered observable and the last unobservable: • Level 1 – Quoted prices in active markets for identical assets or liabilities. • Level 2 – Inputs other than Level 1 that are observable for the asset or liability, either directly or indirectly, such as quoted prices for similar assets and liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be corroborated by observable market data by correlation or other means. • Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. Value is determined using pricing models, discounted cash flow methodologies, or similar techniques and includes instruments for which the determination of fair value requires significant judgment or estimation. The carrying amounts of cash and cash equivalents, accounts receivable, prepaid expenses, accounts payable and accrued expenses are considered to be representative of their fair values because of the short-term nature of those instruments. There were no transfers between levels in the fair value hierarchy during the year ended December 31, 2021.
IMPAIRMENT OF LONG-LIVED ASSETS	IMPAIRMENT OF LONG-LIVED ASSETS The Company reviews long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of the assets may not be fully recoverable. An impairment loss would be recognized when estimated undiscounted future cash flows expected to result from the use of the asset and its eventual disposition are less than the carrying amount. The impairment loss, if recognized, would be based on the excess of the carrying value of the impaired asset over its respective fair value. No impairment losses have been recorded through December 31, 2021.

NATURE OF OPERATIONS AND SUMM_3

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of amortization expense	The estimated amortization expense for the succeeding years for the intangible assets is approximately: Schedule of amortization expense Year Ending December 31, 2022 $ 60,617 2023 59,842 2024 59,842 2025 59,842 2026 59,842 Thereafter 508,828 Total amortization expense $ 808,813
Schedule of net income per common share	Basic earnings per share are computed on the weighted average of common shares outstanding during each year. Diluted earnings per share includes only an increase in the weighted average shares by the common shares issuable upon exercise of stock options. Schedule of net income per common share Years Ended December 31, 2021 December 31, 2020 Net loss $ (4,562,823 ) $ (1,212,063 ) Weighted Average Outstanding Shares: Outstanding shares 44,385,032 41,929,736 Option shares includable — (a) — (a) 44,385,032 41,929,736 Net loss per share Basic $ (0.10 ) $ (0.03 ) Diluted $ (0.10 ) $ (0.03 ) __________ (a) Option shares of 273,110 239,935
Schedule of net sales by geography	The following table summarizes net revenues by geography for the years ended December 31, 2021 and 2020: Schedule of net sales by geography Years Ended December 31, 2021 2020 Net Revenues Domestic $ 19,488,685 $ 20,678,453 International 4,001,490 3,497,995 Total $ 23,490,175 $ 24,176,448

INVENTORY (Tables)

INVENTORY (Tables)	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory consists of:	Inventory consists of: December 31, 2021 December 31, 2020 Raw materials and work-in-process $ 2,997,807 $ 2,279,054 Finished goods 3,176,836 4,562,315 Total 6,174,643 6,841,369 Less: reserve for obsolete inventory (68,305 ) (11,597 ) Inventory, net $ 6,106,338 $ 6,829,772

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property and equipment consists of the following at:	Property and equipment consists of the following at: December 31, 2021 December 31, 2020 Furniture and office equipment $ 818,897 $ 753,536 Leasehold improvements 556,907 542,796 Manufacturing equipment and tooling 2,042,675 1,856,909 Total property and equipment 3,418,479 3,153,241 Less: accumulated depreciation and amortization (2,312,034 ) (1,985,618 ) Property and equipment, net $ 1,106,445 $ 1,167,623

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of fair value of the stock options granted Black-Scholes option valuation model	The per share weighted average fair value of stock options granted during the years ended December 31, 2021, and December 31, 2020 was $ 2.85 6.53 We have recognized tax benefits associated with stock-based compensation of $ 175,257 62,393 Schedule of fair value of the stock options granted Black-Scholes option valuation model December 31, 2021 December 31, 2020 Dividend yield 0.00 0.00 Expected volatility 74.01 77.91 62.11 62.18 Weighted-average volatility — — Expected dividends — — Expected term (in years) 10 10 Risk-free rate 1.20 1.62 0.63 0.64
Schedule of stock option plan	The following table summarizes the status of the Company’s stock option plan: Schedule of stock option plan December 31, 2021 December 31, 2020 Shares Weighted Shares Weighted Outstanding at January 1 2,922,494 $ 2.46 3,647,000 $ 1.32 Granted 2,000,000 $ 3.64 360,000 $ 9.54 Exercised 1,062,500 $ 1.19 884,506 $ 0.71 Forfeited 187,494 $ 3.36 200,000 $ 2.09 Outstanding at year end 3,672,500 $ 3.42 2,922,494 $ 2.46 Options exercisable 983,750 $ 2.73 906,244 $ 1.40 Weighted average fair value of options granted during the period — $ 2.85 — $ 6.53 Stock-based compensation expense — $ 2,457,788 — $ 874,869
Schedule of information pertaining to options outstanding	The following table presents information pertaining to options outstanding as of December 31, 2021: Schedule of information pertaining to options outstanding Range of Exercise Price Number Weighted Weighted Number Weighted $1.57 - $9.76 3,672,500 8.5 $ 3.42 983,750 $ 2.73
Schedule of performance base options outstanding	The following table summarizes the status of the 2015 Plan with respect to performance-based stock options as of December 31, 2021: Schedule of performance base options outstanding December 31, 2021 December 31, 2020 Shares Weighted Shares Weighted Outstanding at January 1 1,000,000 $ 1.70 1,000,000 $ 1.70 Granted — $ — — $ — Exercised — $ — — $ — Forfeited 1,000,000 $ 1.70 — $ — Outstanding at year end — $ — 1,000,000 $ 1.70 Options exercisable — $ — 333,333 $ 1.70 Weighted average fair value of options granted during the period — $ — — $ — Stock-based compensation expense — $ (408,747 ) — $ 502,904
The following table summarizes the activities for our unvested restricted stock awards for the twelve months ended December 31, 2021, and 2020.	On April 12, 2021, pursuant to an employment agreement entered into on March 15, 2021, with Linda Tharby, the Company’s President and Chief Executive Officer and as an inducement to her employment, the Company issued three restricted stock awards for an aggregate 1,000,000 3,310,000 The following table summarizes the activities for our unvested restricted stock awards for the twelve months ended December 31, 2021, and 2020. Twelve Months Ended December 31, 2021 2020 Shares Weighted Shares Weighted Unvested at January 1 — $ — — $ — Granted 1,000,000 $ 3.01 — $ — Vested — $ — — $ — Forfeited/canceled — $ — — $ — Unvested at December 31 1,000,000 $ 3.01 — $ —

LEASES (Tables)

LEASES (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of components of lease expense	The components of lease expense were as follows: Schedule of components of lease expense Years Ended December 31, 2021 2020 Operating lease cost $ 149,476 $ 151,686 Short-term lease cost 146,604 65,227 Total lease cost $ 296,080 $ 216,913 Finance lease cost: Amortization of right-of-use assets $ 2,586 $ 5,302 Interest on lease liabilities 60 237 Total finance lease cost $ 2,646 $ 5,539
Schedule of cash flow information related to leases	Supplemental cash flow information related to leases was as follows: Schedule of cash flow information related to leases Years Ended December 31, 2021 2020 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ 141,293 $ 136,888 Financing cash flows from finance leases $ 2,646 $ 5,296
Schdeule of balance sheet information related to leases	Supplemental balance sheet information related to leases was as follows: Schdeule of balance sheet information related to leases December 31, December 31, Operating Leases Operating lease right-of-use assets $ 95,553 $ 236,846 Operating lease liability - current 95,553 141,293 Operating lease liability, net of current portion — 95,553 Total operating lease liabilities $ 95,553 $ 236,846 Finance Leases Property and equipment, at cost $ 12,725 $ 12,725 Accumulated depreciation (12,725 ) (10,139 ) Property and equipment, net $ — $ 2,586 Finance lease liability – current — 2,646 Finance lease liability, net of current portion — — Total finance lease liabilities $ — $ 2,646 December 31, December 31, Weighted Average Remaining Lease Term Operating leases 0.6 1.4 Finance leases 0 0.7 Weighted Average Discount Rate Operating leases 4.75 4.75 Finance leases 4.75 4.75
Schedule of maturities of lease liabilities	Maturities of lease liabilities are as follows: Schedule of maturities of lease liabilities Year Ending December 31, Operating Leases Finance Leases 2022 97,256 — 2023 — — 2024 — — 2025 — — Thereafter — — Total undiscounted lease payments 97,256 Less: imputed interest (1,703 ) — Total lease liabilities $ 95,553 $ —

FEDERAL AND STATE INCOME TAXES

FEDERAL AND STATE INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of provision for income taxes	Income tax expense consisted of the following: Schedule of provision for income taxes Year Ended Year Ended State income tax: Current, net of refund $ (12,800 ) $ (17,800 ) Federal income tax: Deferred 1,814,418 (62,967 ) Current — 62,967 Income tax benefit/(expense) $ 1,801,618 $ (17,800 )
Schedule of reconciliation of income taxes	The reconciliation of income taxes shown in the financial statements and amounts computed by applying the Federal expected tax rate of 21% for year 2021 and 2020 is as follows: Schedule of reconciliation of income taxes Year Ended Year Ended Loss before taxes $ (6,364,441 ) $ (1,194,263 ) Income taxes computed at the federal statutory rate $ 1,336,533 $ 250,795 State income and franchise tax (12,800 ) (17,800 ) Permanent differences and other 477,885 (250,795 ) Income tax benefit/(expense) $ 1,801,618 $ (17,800 )
Schedule of components of deferred tax assets	The significant components of deferred income tax assets, net are as follows: Schedule of components of deferred tax assets December 31, December 31, Deferred compensation cost $ 389,981 $ 239,036 Depreciation and amortization (116,911 ) (135,092 ) R&D credit 142,538 NOL 1,507,982 Allowance for bad debts and other 17,664 21,330 Deferred income tax assets, net $ 1,941,254 $ 125,274

Schedule of amortization expens

Schedule of amortization expense (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Accounting Policies [Abstract]
2022	$ 60,617
2023	59,842
2024	59,842
2025	59,842
2026	59,842
Thereafter	508,828
Total amortization expense	$ 808,813	$ 843,587

Schedule of net income per comm

Schedule of net income per common share (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Net loss	$ (4,562,823)	$ (1,212,063)
Weighted Average Outstanding Shares:
Outstanding shares	44,385,032	41,929,736
	44,385,032	41,929,736
Net loss per share
Basic	$ (0.10)	$ (0.03)
Diluted	$ (0.10)	$ (0.03)
Employee Stock [Member]
Net loss per share
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	273,110	239,935

Schedule of net sales by geogra

Schedule of net sales by geography (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenues	$ 23,490,175	$ 24,176,448
UNITED STATES
Revenues	19,488,685	20,678,453
Non-US [Member]
Revenues	$ 4,001,490	$ 3,497,995

NATURE OF OPERATIONS AND SUMM_4

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)
Property, Plant and Equipment [Line Items]
Number of segments | Segment	1
Cash, Uninsured Amount	$ 250,000
Abandonment of intangible assets		$ 41,919
Depreciation and amortization expense	$ 463,130	$ 418,595
Minimum [Member] | Furniture And Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	3 years
Minimum [Member] | Equipment And Tooling [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	3 years
Maximum [Member] | Furniture And Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	10 years
Maximum [Member] | Equipment And Tooling [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives of property and equipment	12 years
Patents And Trademarks [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	6 years
Patents And Trademarks [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	20 years

Inventory consists of_ (Details

Inventory consists of: (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials and work-in-process	$ 2,997,807	$ 2,279,054
Finished goods	3,176,836	4,562,315
Total	6,174,643	6,841,369
Less: reserve for obsolete inventory	(68,305)	(11,597)
Inventory, net	$ 6,106,338	$ 6,829,772

Property and equipment consists

Property and equipment consists of the following at: (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 3,418,479	$ 3,153,241
Less: accumulated depreciation and amortization	(2,312,034)	(1,985,618)
Property and equipment, net	1,106,445	1,167,623
Furniture And Office Equipment [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	818,897	753,536
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	556,907	542,796
Manufacturing Equipment And Tooling [Member]
Property, Plant and Equipment [Line Items]
Total property and equipment	$ 2,042,675	$ 1,856,909

Schedule of fair value of the s

Schedule of fair value of the stock options granted Black-Scholes option valuation model (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted-average volatility	0.00%	0.00%
Stock Option Plan 2015 [Member] | Time Based Shares Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Dividend yield	0.00%	0.00%
Expected dividends	$ 0	$ 0
Expected term (in years)	10 years	10 years
Stock Option Plan 2015 [Member] | Time Based Shares Options [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	74.01%	62.11%
Risk-free rate	1.20%	0.63%
Stock Option Plan 2015 [Member] | Time Based Shares Options [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	77.91%	62.18%
Risk-free rate	1.62%	0.64%

Schedule of stock option plan (

Schedule of stock option plan (Details) - Stock Option Plan 2015 [Member] - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning	2,922,494	3,647,000
Outstanding at beginning	$ 2.46	$ 1.32
Granted	2,000,000	360,000
Granted	$ 3.64	$ 9.54
Exercised	1,062,500	884,506
Exercised	$ 1.19	$ 0.71
Forfeited	187,494	200,000
Forfeited	$ 3.36	$ 2.09
Outstanding at ending	3,672,500	2,922,494
Outstanding at ending	$ 3.42	$ 2.46
Options exercisable at ending	983,750	906,244
Options exercisable	$ 2.73	$ 1.40
Weighted average fair value of options granted during the period	$ 2.85	$ 6.53
Total performance stock-based compensation expense	$ 2,457,788	$ 874,869

Schedule of information pertain

Schedule of information pertaining to options outstanding (Details) - Stock Option Plan 2015 [Member] - Time Based Shares Options [Member] - Exercise Price 1 [Member]	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number Outstanding | shares	3,672,500
Weighted average remaining contractual term	8 years 6 months
Weighted average exercise price | $ / shares	$ 3.42
Number exercisable | shares	983,750
Weighted average exercise price | $ / shares	$ 2.73

Schedule of performance base op

Schedule of performance base options outstanding (Details) - Stock Option Plan 2015 [Member] - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning	2,922,494	3,647,000
Outstanding at beginning	$ 2.46	$ 1.32
Weighted average fair value of options granted during the period	2,000,000	360,000
Granted	$ 3.64	$ 9.54
Exercised	1,062,500	884,506
Exercised	$ 1.19	$ 0.71
Forfeited	187,494	200,000
Forfeited	$ 3.36	$ 2.09
Outstanding at ending	3,672,500	2,922,494
Outstanding at ending	$ 3.42	$ 2.46
Options exercisable at ending	983,750	906,244
Options exercisable	$ 2.73	$ 1.40
Weighted average fair value of options granted during the period	$ 2.85	$ 6.53
Stock-based compensation expense	$ 2,457,788	$ 874,869
Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning	1,000,000	1,000,000
Outstanding at beginning	$ 1.70	$ 1.70
Weighted average fair value of options granted during the period	0	0
Granted	$ 0	$ 0
Exercised	0	0
Exercised	$ 0	$ 0
Forfeited	1,000,000	0
Forfeited	$ 1.70	$ 0
Outstanding at ending	0	1,000,000
Outstanding at ending		$ 1.70
Options exercisable at ending	0	333,333
Options exercisable	$ 0	$ 1.70
Weighted average fair value of options granted during the period
Stock-based compensation expense	$ (408,747)	$ 502,904

The following table summarizes

The following table summarizes the activities for our unvested restricted stock awards for the twelve months ended December 31, 2021, and 2020. (Details) - Stock Option Plan 2015 [Member] - Restricted Stock Awards [Member] - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at beginning	0	0
Outstanding at beginning	0	0
Granted	1,000,000	0
Granted	3.01	0
Vested	0	0
Vested	0	0
Forfeited/canceled	0	0
Forfeited/canceled	0	0
Outstanding at ending	1,000,000	0
Outstanding at ending	3.01	0

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details Narrative) - USD ($)	Apr. 12, 2021	Jan. 02, 2021	May 20, 2020	Oct. 01, 2019	Jan. 02, 2019	Dec. 31, 2021	May 18, 2021	Dec. 31, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding						44,623,660		43,259,617
Stock issued during period						2,000,000
Chief Executive Officer Linda Tharby [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued during period	1,000,000
Number of stock option shares issued, value	$ 3,310,000
Settlement Agreement [Member] | E M E D Technologies Corporation [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Description of vesting rights			the Company issued to EMED (i) 95,238 restricted stock units, which vested on May 21, 2020, and 95,238 restricted stock units, which vested on January 1, 2021, and (ii) an option to purchase up to 400,000 shares of the Company’s common stock at an exercise price of $11.21 per share prior to February 1, 2021, which was not exercised.
Non Employee Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonemployee services transaction cost					50,000
Amount for chairing board committee					$ 10,000
Board of Directors Chairman [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonemployee services transaction cost		100,000		50,000			140,000
Share-based Goods and Nonemployee Services Transaction							to be paid quarterly $12,500 in cash and $22,500 in common stock
Non Employee Director And Board Advisor [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonemployee services transaction cost		75,000					110,000
Share-based Goods and Nonemployee Services Transaction		to be paid quarterly $12,500 in cash and $6,250 in common stock					to be paid quarterly $12,500 in cash and $15,000 in common stock
Stock Option Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued during period						1,000,000
Available for issuance						6,000,000
Allocated stock-based compensation expense						$ 2,457,788		$ 874,869
Stock Option Plan 2015 [Member] | Time Based Shares Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense						2,457,788		874,869
Cash received from option exercises						$ 1,261,251		$ 95,880
Weighted-average grant-date fair value options granted						5,699,986		2,350,264
[custom:StockIssuedDuringPeriodSharesStockOptionsExercised1]						697,920		397,962
Total unrecognized compensation cost						$ 6,158,501
weighted-average period (in years)						46 months
Total fair value of shares vested						$ 1,923,179		$ 803,171
Stock Option Plan 2015 [Member] | Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost						0
Allocated stock-based compensation expense						(408,747)		502,904
Stock Option Plan 2015 [Member] | Restricted Stock Awards [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost						$ 2,299,726
weighted-average period (in years)						39 months
Recognized tax benefits						$ 47,220		$ 0
Stock Option Plan 2015 [Member] | Executiveskey Employees And Consultants [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock outstanding						3,672,500
Stock Option Plan 2021 [Member] | Director [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock issued during period						59,658

Schedule of components of lease

Schedule of components of lease expense (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
Operating lease cost	$ 149,476	$ 151,686
Short-term lease cost	146,604	65,227
Total lease cost	296,080	216,913
Finance lease cost:
Amortization of right-of-use assets	2,586	5,302
Interest on lease liabilities	60	237
Total finance lease cost	$ 2,646	$ 5,539

Schedule of cash flow informati

Schedule of cash flow information related to leases (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash paid for amounts included in the measurement of lease liabilities:
Operating cash flows from operating leases	$ 141,293	$ 136,888
Financing cash flows from finance leases	$ 2,646	$ 5,296

Schdeule of balance sheet infor

Schdeule of balance sheet information related to leases (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
Operating lease right-of-use assets	$ 95,553	$ 236,846
Operating lease liability - current	95,553	141,293
Operating lease liability, net of current portion		95,553
Total operating lease liabilities	95,553	236,846
Finance Leases
Property and equipment, at cost	12,725	12,725
Accumulated depreciation	(12,725)	(10,139)
Property and equipment, net		2,586
Finance lease liability – current		2,646
Finance lease liability, net of current portion
Total finance lease liabilities		$ 2,646
Lessee, Operating Lease, Renewal Term	7 months 6 days	1 year 4 months 24 days
Finance leases	0 years	8 months 12 days
Operating leases	4.75%	4.75%
Finance leases	4.75%	4.75%

Schedule of maturities of lease

Schedule of maturities of lease liabilities (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Leases [Abstract]
2022	$ 97,256
2022	0
2023	0
2023	0
2024	0
2024	0
2025	0
2025	0
Thereafter	0
Thereafter	0
Total undiscounted operating lease payments	97,256
Less: imputed interest	(1,703)
Less: imputed interest	0
Total operating lease liabilities	95,553	$ 236,846
Total finance lease liabilities		$ 2,646

LEASES (Details Narrative)

LEASES (Details Narrative)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Operating lease, options to terminate	1 year

Schedule of provision for incom

Schedule of provision for income taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
State income tax:
Current, net of refund	$ (12,800)	$ (17,800)
Federal income tax:
Deferred	1,814,418	(62,967)
Current		62,967
Income tax benefit/(expense)	$ 1,801,618	$ (17,800)

Schedule of reconciliation of i

Schedule of reconciliation of income taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Loss before taxes	$ (6,364,441)	$ (1,194,263)
Income taxes computed at the federal statutory rate	1,336,533	250,795
State income and franchise tax	(12,800)	(17,800)
Permanent differences and other	477,885	(250,795)
Income tax benefit/(expense)	$ 1,801,618	$ (17,800)

Schedule of components of defer

Schedule of components of deferred tax assets (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Income Tax Disclosure [Abstract]
Deferred compensation cost	$ 389,981	$ 239,036
Depreciation and amortization	(116,911)	(135,092)
R&D credit	142,538
NOL	1,507,982
Allowance for bad debts and other	17,664	21,330
Deferred income tax assets, net	$ 1,941,254	$ 125,274

MAJOR CUSTOMERS (Details Narrat

MAJOR CUSTOMERS (Details Narrative)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Revenue Benchmark [Member] | Customer Concentration Risk [Member] | Customer One [Member]
Concentration Risk [Line Items]
Concentration Risk, Percentage	41.00%	51.00%

EMPLOYEE BENEFITS (Details Narr

EMPLOYEE BENEFITS (Details Narrative) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Retirement Benefits [Abstract]
Description of matching contribution	The Company makes safe harbor matching contributions in an amount equal to 100% of the employee’s contribution, not to exceed 3% of employee’s compensation plus 50% of employee’s pay contributed between 3% and 5% of employee’s compensation
Matching expense	$ 166,014	$ 156,789

DEBT OBLIGATIONS (Details Narra

DEBT OBLIGATIONS (Details Narrative) - USD ($)	Jul. 26, 2021	Jun. 24, 2021	Apr. 27, 2020	Apr. 14, 2020	Jun. 30, 2021
Key Equipment Finance [Member] | Progress Payment Loan And Security Agreement [Member]
Line of Credit Facility [Line Items]
Interest rate terms			fixed rate of 4.07% per annum
Loans, principal amount			$ 2,500,000
principal and interest payment terms			84 equal consecutive monthly installments
Promissory Note [Member] | Key Bank National Association [Member]
Line of Credit Facility [Line Items]
Face amount				$ 3,500,000
Promissory Note [Member] | Line of Credit [Member] | Key Bank National Association [Member]
Line of Credit Facility [Line Items]
Face amount				$ 3,500,000
Interest rate terms		Prime Rate announced by the Bank minus 1.50		Prime Rate announced by the Bank minus 0.75
Debt instrument, principal and unpaid interest due				Jun. 1, 2022
Debt instrument period iteam				any time prior to maturity with no prepayment penalties
Promissory Note [Member] | Revolving Credit Facility [Member] | Key Bank National Association [Member]
Line of Credit Facility [Line Items]
Face amount					$ 3,500,000
A O N Premium Finance L L C [Member] | Promissory Note [Member]
Line of Credit Facility [Line Items]
Notes Payable	$ 900,000
A O N Premium Finance L L C [Member] | Promissory Note [Member] | Line of Credit [Member]
Line of Credit Facility [Line Items]
[custom:NotePayableTerms]	4.17%

EQUITY (Details Narrative)

EQUITY (Details Narrative) - USD ($)	1 Months Ended	12 Months Ended
	Jun. 18, 2020	Dec. 31, 2020	Nov. 16, 2020
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued (in shares)		683,271
Maximum amount of stock repurchase program			$ 10,000,000
Purchase Agreement [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Number of shares issued (in shares)	3,125,000
Purchase Agreement [Member] | Piper Sandler Co And Canaccord Genuity L L C [Member] | Common Stock [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period	30 days
[custom:AdditionalNumberOfSharesIssued]	468,750
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date	Jun. 19, 2020
Share Price	$ 7.52
Proceeds from Issuance of Debt	$ 26,600,000

SUBSEQUENT EVENT (Details Narra

SUBSEQUENT EVENT (Details Narrative) - Subsequent Event [Member]	Mar. 02, 2022USD ($)
Subsequent Event [Line Items]
Description of lease term	The new lease term commences March 1, 2022 and expires August 31, 2032. Our monthly base rent is approximately $38,000 in the first year
Annual increases up	$ 50,000