Cover
Cover - shares | 9 Months Ended | |
Sep. 30, 2023 | Oct. 26, 2023 | |
Cover [Abstract] | ||
Document Type | 10-Q | |
Amendment Flag | false | |
Document Quarterly Report | true | |
Document Transition Report | false | |
Document Period End Date | Sep. 30, 2023 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2023 | |
Current Fiscal Year End Date | --12-31 | |
Entity File Number | 000-27793 | |
Entity Registrant Name | ELECTRONIC SYSTEMS TECHNOLOGY INC | |
Entity Central Index Key | 0000752294 | |
Entity Tax Identification Number | 91-1238077 | |
Entity Incorporation, State or Country Code | WA | |
Entity Address, Address Line One | 415 N. Roosevelt St. | |
Entity Address, Address Line Two | STE B1 | |
Entity Address, City or Town | Kennewick | |
Entity Address, State or Province | WA | |
Entity Address, Postal Zip Code | 99336 | |
City Area Code | 509 | |
Local Phone Number | 735-9092 | |
Title of 12(b) Security | Common Stock, $0.001 par value | |
Trading Symbol | ELST | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 4,946,502 |
CONDENSED BALANCE SHEETS (Unaud
CONDENSED BALANCE SHEETS (Unaudited) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Current assets | ||
Cash and cash equivalents | $ 421,493 | $ 751,118 |
Certificates of deposit | 400,000 | 251,699 |
Accounts receivable, net | 96,178 | 141,394 |
Inventories | 809,877 | 725,478 |
Prepaid expenses | 32,436 | 42,627 |
Employee retention tax credit receivable (NOTE 7) | 63,000 | |
Accrued interest receivable | 2,274 | 808 |
Total current assets | 1,762,258 | 1,976,124 |
Property and equipment, net of depreciation | 19,260 | 914 |
Right to use – Lease, net of amortization (NOTE 6) | 40,821 | 69,419 |
Total assets | 1,822,339 | 2,046,457 |
Current liabilities | ||
Accounts payable | 32,582 | 138,996 |
Accrued wages and bonus | 4,465 | 24,777 |
Accrued vacation pay | 24,382 | 16,846 |
Lease liability, current (NOTE 6) | 41,453 | 39,120 |
Other accrued liabilities | 7,175 | 8,913 |
Total current liabilities | 110,057 | 228,652 |
Long-Term Liabilities | ||
Operating lease liability (NOTE 6) | 30,457 | |
Total liabilities | 110,057 | 259,109 |
Stockholder equity | ||
Common stock, $0.001 par value 50,000,000 shares authorized 4,946,502 and 4,946,502 shares issued and outstanding respectively | 4,947 | 4,947 |
Additional paid-in capital | 933,105 | 932,412 |
Retained earnings | 774,230 | 849,989 |
Total stockholders' equity | 1,712,282 | 1,787,348 |
Total liabilities and stockholders' equity | $ 1,822,339 | $ 2,046,457 |
CONDENSED BALANCE SHEETS (Una_2
CONDENSED BALANCE SHEETS (Unaudited) (Parenthetical) - $ / shares | Sep. 30, 2023 | Dec. 31, 2022 |
Statement of Financial Position [Abstract] | ||
Common stock par value | $ 0.001 | $ 0.001 |
Common stock shares authorized | 50,000,000 | 50,000,000 |
Common stock shares issued | 4,946,502 | 4,946,502 |
Common stock shares outstanding | 4,946,502 | 4,946,502 |
CONDENSED STATEMENTS OF OPERATI
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Income Statement [Abstract] | ||||
SALES - NET | $ 342,721 | $ 487,160 | $ 1,233,016 | $ 1,376,195 |
COST OF SALES | (178,435) | (210,056) | (586,631) | (611,376) |
GROSS PROFIT | 164,286 | 277,104 | 646,385 | 764,819 |
Operating Expenses | ||||
General and administrative | 55,829 | 60,784 | 202,086 | 212,308 |
Research and development | 26,114 | 40,029 | 82,798 | 131,662 |
Marketing and sales | 133,223 | 104,293 | 454,819 | 373,694 |
TOTAL OPERATING EXPENSE | 215,166 | 205,106 | 739,703 | 717,664 |
OPERATING INCOME (LOSS) | (50,880) | 71,998 | (93,318) | 47,155 |
OTHER INCOME | ||||
Interest income | 8,375 | 1,373 | 17,559 | 2,459 |
TOTAL OTHER INCOME | 8,375 | 1,373 | 17,559 | 2,459 |
NET INCOME (LOSS) BEFORE INCOME TAX | (42,505) | 73,371 | (75,759) | 49,614 |
Benefit (provision) for income tax | ||||
NET INCOME (LOSS) | $ (42,505) | $ 73,371 | $ (75,759) | $ 49,614 |
CONDENSED STATEMENTS OF OPERA_2
CONDENSED STATEMENTS OF OPERATIONS (Unaudited) (Parenthetical) - $ / shares | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Income Statement [Abstract] | ||||
Basic earnings per share | $ (0.01) | $ 0.01 | $ (0.02) | $ 0.01 |
Diluted earnings per share | $ (0.01) | $ 0.01 | $ (0.02) | $ 0.01 |
Basic weighted average shares used in computing income (loss) per share | 4,946,502 | 4,946,502 | 4,946,502 | 4,946,502 |
Diluted weighted average shares used in computing income (loss) per share | 4,946,502 | 4,946,502 | 4,946,502 | 4,946,502 |
CONDENSED STATEMENTS OF CASH FL
CONDENSED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income (loss) | $ (75,759) | $ 49,614 |
Noncash items included in net loss: | ||
Depreciation and amortization | 1,423 | 333 |
Stock based compensation | 693 | |
Changes in operating assets and liabilities: | ||
Accounts receivable, net | 45,216 | 3,644 |
Inventories | (84,399) | (56,601) |
Accrued interest receivable | (1,466) | (794) |
Prepaid expenses | 10,191 | (53,377) |
Employee retention tax credit receivable | 63,000 | |
Accounts payable | (106,414) | (44,803) |
Other accrued liabilities | (14,040) | 14,525 |
NET CASH USED IN OPERATING ACTIVITIES | (161,555) | (87,459) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Purchase of fixed assets | (19,769) | |
Certificates of deposit redeemed | 1,001,699 | 850,000 |
Certificates of deposit purchased | (1,150,000) | (850,584) |
NET CASH USED IN INVESTING ACTIVITIES | (168,070) | (584) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Principal payments on CARES Act loan payable (round 1) | (5,968) | |
NET CASH USED IN FINANCING ACTIVITIES | (5,968) | |
NET DECREASE IN CASH AND CASH EQUIVALENTS | (329,625) | (94,011) |
Cash and cash equivalents at beginning of period | 751,118 | 655,616 |
Cash and cash equivalents at end of period | $ 421,493 | $ 561,605 |
CONDENSED STATEMENTS OF CHANGES
CONDENSED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2021 | $ 4,947 | $ 932,412 | $ 703,458 | $ 1,640,817 |
Beginning balance, shares at Dec. 31, 2021 | 4,946,502 | |||
Net income (loss) | (4,961) | (4,961) | ||
Ending balance, value at Mar. 31, 2022 | $ 4,947 | 932,412 | 698,497 | 1,635,856 |
Ending balance, shares at Mar. 31, 2022 | 4,946,502 | |||
Beginning balance, value at Dec. 31, 2021 | $ 4,947 | 932,412 | 703,458 | 1,640,817 |
Beginning balance, shares at Dec. 31, 2021 | 4,946,502 | |||
Net income (loss) | 49,614 | |||
Ending balance, value at Sep. 30, 2022 | $ 4,947 | 932,412 | 753,072 | 1,690,431 |
Ending balance, shares at Sep. 30, 2022 | 4,946,502 | |||
Beginning balance, value at Mar. 31, 2022 | $ 4,947 | 932,412 | 698,497 | 1,635,856 |
Beginning balance, shares at Mar. 31, 2022 | 4,946,502 | |||
Net income (loss) | (18,796) | (18,796) | ||
Ending balance, value at Jun. 30, 2022 | $ 4,947 | 932,412 | 679,701 | 1,617,060 |
Ending balance, shares at Jun. 30, 2022 | 4,946,502 | |||
Net income (loss) | 73,371 | 73,371 | ||
Ending balance, value at Sep. 30, 2022 | $ 4,947 | 932,412 | 753,072 | 1,690,431 |
Ending balance, shares at Sep. 30, 2022 | 4,946,502 | |||
Beginning balance, value at Dec. 31, 2022 | $ 4,947 | 932,412 | 849,989 | 1,787,348 |
Beginning balance, shares at Dec. 31, 2022 | 4,946,502 | |||
Net income (loss) | (92,124) | (92,124) | ||
Ending balance, value at Mar. 31, 2023 | $ 4,947 | 932,412 | 757,865 | 1,695,224 |
Ending balance, shares at Mar. 31, 2023 | 4,946,502 | |||
Beginning balance, value at Dec. 31, 2022 | $ 4,947 | 932,412 | 849,989 | 1,787,348 |
Beginning balance, shares at Dec. 31, 2022 | 4,946,502 | |||
Net income (loss) | (75,759) | |||
Ending balance, value at Sep. 30, 2023 | $ 4,947 | 933,105 | 774,230 | 1,712,282 |
Ending balance, shares at Sep. 30, 2023 | 4,946,502 | |||
Beginning balance, value at Mar. 31, 2023 | $ 4,947 | 932,412 | 757,865 | 1,695,224 |
Beginning balance, shares at Mar. 31, 2023 | 4,946,502 | |||
Net income (loss) | 58,870 | 58,870 | ||
Stock based compensation | 693 | 693 | ||
Ending balance, value at Jun. 30, 2023 | $ 4,947 | 933,105 | 816,735 | 1,754,787 |
Ending balance, shares at Jun. 30, 2023 | 4,946,502 | |||
Net income (loss) | (42,505) | (42,505) | ||
Ending balance, value at Sep. 30, 2023 | $ 4,947 | $ 933,105 | $ 774,230 | $ 1,712,282 |
Ending balance, shares at Sep. 30, 2023 | 4,946,502 |
BASIS OF PRESENTATION
BASIS OF PRESENTATION | 9 Months Ended |
Sep. 30, 2023 | |
Accounting Policies [Abstract] | |
BASIS OF PRESENTATION | NOTE 1 - BASIS OF PRESENTATION The unaudited condensed financial statements, including notes, of Electronic Systems Technology, Inc. (the "Company") are representations of the Company’s management, which is responsible for their integrity and objectivity. The accompanying unaudited condensed financial statements have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) for interim financial information, as well as the instructions to Form 10-Q. Accordingly, the financial statements do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In the opinion of management, the accompanying unaudited condensed financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of its financial position as of September 30, 2023 and its results of operations, cash flows, and changes in stockholders’ equity for the three and nine months ended September 30, 2023, and 2022. The balance sheet at December 31, 2022 was derived from audited annual financial statements but does not contain all of the footnote disclosures from the annual financial statements. All amounts presented are in U.S. dollars. For further information, refer to the financial statements and footnotes thereto in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. The results of operations for the three and nine-month period ended September 30, 2023 are not necessarily indicative of the results expected for the full fiscal year or for any other fiscal period. The Company estimates that for 2023 the anticipated effective annual federal income tax rate will be 0%. New Accounting Pronouncements Accounting standards that have been issued by the Financial Accounting Standards Board that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption. |
INVENTORIES
INVENTORIES | 9 Months Ended |
Sep. 30, 2023 | |
Inventory Disclosure [Abstract] | |
INVENTORIES | NOTE 2 - INVENTORIES Inventories are stated at lower of direct cost or net realizable value with cost determined using the FIFO (first in, first out) method. Inventories consist of the following: Schedule of inventories September 30, 2023 December 31, 2022 Parts $ 125,555 $ 172,190 Work in progress 366,887 336,298 Finished goods 317,435 216,990 Total inventories $ 809,877 $ 725,478 |
EARNINGS (LOSS) PER SHARE
EARNINGS (LOSS) PER SHARE | 9 Months Ended |
Sep. 30, 2023 | |
Earnings Per Share [Abstract] | |
EARNINGS (LOSS) PER SHARE | NOTE 3 - EARNINGS (LOSS) PER SHARE Basic earnings (loss) per share excludes dilution and is computed by dividing income (loss) available to common stockholders by the weighted-average number of shares of common stock outstanding for the period. Diluted earnings (loss) per share reflects potential dilution occurring if securities or other contracts to issue common stock were exercised or converted into Common Stock or resulted in the issuance of common stock that then shared in the earnings of the Company. At September 30, 2023 and 2022, the Company had 225,000 210,000 |
STOCK OPTIONS
STOCK OPTIONS | 9 Months Ended |
Sep. 30, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
STOCK OPTIONS | NOTE 4 - STOCK OPTIONS On June 9, 2023, the Board of Directors granted 45,000 0.40 5 0.24 104.1 5 95 3.92 693 534 159 As of September 30, 2023, there were 225,000 0.40 2.0 |
REVENUE
REVENUE | 9 Months Ended |
Sep. 30, 2023 | |
Revenue from Contract with Customer [Abstract] | |
REVENUE | NOTE 5 – REVENUE The Company product revenue includes industrial wireless products and accessories such as antennas, power supplies and cable assemblies. The Company also provides direct site support and engineering services to customers, such as repair and upgrade of its products. During the three-month periods ended September 30, 2023 and 2022, the Company’s revenue from products sales was $ 336,621 480,260 6,100 6,900 During the nine-month periods ended September 30, 2023 and 2022, the Company’s revenue from products sales was $ 1,209,516 1,351,495 23,500 24,700 The Company’s customers, to which trade credit terms are extended, consist of United States and local governments and foreign and domestic companies. Domestic sales for the three-month period ended September 30, 2023 and September 30, 2022 were $ 338,948 419,164 3,773 67,996 Domestic sales for the nine-month period ended September 30, 2023 and September 30, 2022 were $ 1,208,539 1,234,793 24,477 141,402 For the three-month period ended September 30, 2023, sales to three customers represented more than 10% of total revenue, three customers represented more than 10% of total revenue for the same period in 2022. Schedule of revenue 2023 Sales 2023 %age of Total Sales 2022 Sales 2022%age of Total Sales Domestic customer A $ 64,698 19 % $ 60,130 12 % Domestic customer B 57,456 17 % 58,167 12 % Domestic customer C 33,119 10 % 46,703 10 % For the nine-month period ended September 30, 2023, sales to one customer represented more than 10% of total revenue, two customers represented more than 10% of total revenue for the same period in 2022. 2023 Sales 2023 %age of Total Sales 2022 Sales 2022 %age of Total Sales Domestic customer A $ 262,149 21 % $ 165,621 12 % Domestic customer B — — 137,346 10 % Domestic customer C — — — — As of September 30, 2023 and 2022, the Company had a sales order backlog of $ 124,125 141,066 |
LEASES
LEASES | 9 Months Ended |
Sep. 30, 2023 | |
Leases | |
LEASES | NOTE 6 - LEASES On September 23, 2022, the Company signed a new two-year lease for its facilities. The base lease is $ 3,373 3,478 12.84 78,757 4.125 12 10,435 31,304 For the three and nine-month periods ended September 30, 2023 and 2022, lease expenses of $ 11,576 11,616 34,727 34,849 Schedule of lease expense For the three-month period ended September 30, 2023 2022 Cost of sales Operating expenses Total Cost of sales Operating expenses Total Base rent pursuant to lease agreement $ 5,751 $ 4,526 $ 10,277 $ 5,751 $ 4,526 $ 10,277 Variable lease costs 727 572 1,299 749 590 1,339 Total lease costs $ 6,478 $ 5,098 $ 11,576 $ 6,500 $ 5,116 $ 11,616 For the nine-month period ended September 30, 2023 2022 Cost of sales Operating expenses Total Cost of sales Operating expenses Total Base rent pursuant to lease agreement $ 17,252 $ 13,578 $ 30,830 $ 17,252 $ 13,578 $ 30,830 Variable lease costs 2,181 1,716 3,897 2,249 1,770 4,019 Total lease costs $ 19,433 $ 15,294 $ 34,727 $ 19,501 $ 15,348 $ 34,849 |
CARES ACT RETENTION CREDIT
CARES ACT RETENTION CREDIT | 9 Months Ended |
Sep. 30, 2023 | |
Debt Disclosure [Abstract] | |
CARES ACT RETENTION CREDIT | NOTE 7 - CARES ACT RETENTION CREDIT As of December 31, 2022, the Company has an employee retention tax credit due of $ 63,000 |
INVENTORIES (Tables)
INVENTORIES (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Inventory Disclosure [Abstract] | |
Schedule of inventories | Schedule of inventories September 30, 2023 December 31, 2022 Parts $ 125,555 $ 172,190 Work in progress 366,887 336,298 Finished goods 317,435 216,990 Total inventories $ 809,877 $ 725,478 |
REVENUE (Tables)
REVENUE (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of revenue | Schedule of revenue 2023 Sales 2023 %age of Total Sales 2022 Sales 2022%age of Total Sales Domestic customer A $ 64,698 19 % $ 60,130 12 % Domestic customer B 57,456 17 % 58,167 12 % Domestic customer C 33,119 10 % 46,703 10 % For the nine-month period ended September 30, 2023, sales to one customer represented more than 10% of total revenue, two customers represented more than 10% of total revenue for the same period in 2022. 2023 Sales 2023 %age of Total Sales 2022 Sales 2022 %age of Total Sales Domestic customer A $ 262,149 21 % $ 165,621 12 % Domestic customer B — — 137,346 10 % Domestic customer C — — — — |
LEASES (Tables)
LEASES (Tables) | 9 Months Ended |
Sep. 30, 2023 | |
Leases | |
Schedule of lease expense | Schedule of lease expense For the three-month period ended September 30, 2023 2022 Cost of sales Operating expenses Total Cost of sales Operating expenses Total Base rent pursuant to lease agreement $ 5,751 $ 4,526 $ 10,277 $ 5,751 $ 4,526 $ 10,277 Variable lease costs 727 572 1,299 749 590 1,339 Total lease costs $ 6,478 $ 5,098 $ 11,576 $ 6,500 $ 5,116 $ 11,616 For the nine-month period ended September 30, 2023 2022 Cost of sales Operating expenses Total Cost of sales Operating expenses Total Base rent pursuant to lease agreement $ 17,252 $ 13,578 $ 30,830 $ 17,252 $ 13,578 $ 30,830 Variable lease costs 2,181 1,716 3,897 2,249 1,770 4,019 Total lease costs $ 19,433 $ 15,294 $ 34,727 $ 19,501 $ 15,348 $ 34,849 |
INVENTORIES (Details)
INVENTORIES (Details) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Inventory Disclosure [Abstract] | ||
Parts | $ 125,555 | $ 172,190 |
Work in progress | 366,887 | 336,298 |
Finished goods | 317,435 | 216,990 |
Total inventories | $ 809,877 | $ 725,478 |
EARNINGS (LOSS) PER SHARE (Deta
EARNINGS (LOSS) PER SHARE (Details Narrative) - shares | 9 Months Ended | |
Sep. 30, 2023 | Sep. 30, 2022 | |
Earnings Per Share [Abstract] | ||
Outstanding stock options | 225,000 | 210,000 |
STOCK OPTIONS (Details Narrativ
STOCK OPTIONS (Details Narrative) - USD ($) | 9 Months Ended | |
Jun. 09, 2023 | Sep. 30, 2023 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Share based compensation | $ 693 | |
Marketing and Sales [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Share based compensation | 534 | |
General and Administrative Expense [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Share based compensation | $ 159 | |
Share-Based Payment Arrangement, Option [Member] | ||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | ||
Granted | 45,000 | |
Exercise price | $ 0.40 | $ 0.40 |
Vesting term | 5 years | |
Stock price | $ 0.24 | |
Volatility rate | 104.10% | |
Expected term | 5 years | |
Forfeiture rate | 95% | |
Discount factor | 3.92% | |
Outstanding value | 225,000 | |
Weighted average remaining life | 2 years |
REVENUE (Details)
REVENUE (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 342,721 | $ 487,160 | $ 1,233,016 | $ 1,376,195 |
Geographic Distribution, Domestic [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 338,948 | 419,164 | 1,208,539 | 1,234,793 |
Customer A [Member] | Geographic Distribution, Domestic [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 64,698 | $ 60,130 | $ 262,149 | $ 165,621 |
% age of total sales | 19% | 12% | 21% | 12% |
Customer B [Member] | Geographic Distribution, Domestic [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 57,456 | $ 58,167 | $ 137,346 | |
% age of total sales | 17% | 12% | 10% | |
Customer C [Member] | Geographic Distribution, Domestic [Member] | Revenue Benchmark [Member] | Customer Concentration Risk [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 33,119 | $ 46,703 | ||
% age of total sales | 10% | 10% |
REVENUE (Details Narrative)
REVENUE (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 342,721 | $ 487,160 | $ 1,233,016 | $ 1,376,195 |
Sales order backlog | 124,125 | 141,066 | ||
Geographic Distribution, Domestic [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 338,948 | 419,164 | 1,208,539 | 1,234,793 |
Geographic Distribution, Foreign [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 3,773 | 67,996 | 24,477 | 141,402 |
Product [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | 336,621 | 480,260 | 1,209,516 | 1,351,495 |
Maintenance [Member] | ||||
Disaggregation of Revenue [Line Items] | ||||
Revenues | $ 6,100 | $ 6,900 | $ 23,500 | $ 24,700 |
LEASES (Details)
LEASES (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Base rent pursuant to lease agreement | $ 10,277 | $ 10,277 | $ 30,830 | $ 30,830 |
Variable lease costs | 1,299 | 1,339 | 3,897 | 4,019 |
Total lease costs | 11,576 | 11,616 | 34,727 | 34,849 |
Cost of Sales [Member] | ||||
Base rent pursuant to lease agreement | 5,751 | 5,751 | 17,252 | 17,252 |
Variable lease costs | 727 | 749 | 2,181 | 2,249 |
Total lease costs | 6,478 | 6,500 | 19,433 | 19,501 |
Operating Expense [Member] | ||||
Base rent pursuant to lease agreement | 4,526 | 4,526 | 13,578 | 13,578 |
Variable lease costs | 572 | 590 | 1,716 | 1,770 |
Total lease costs | $ 5,098 | $ 5,116 | $ 15,294 | $ 15,348 |
LEASES (Details Narrative)
LEASES (Details Narrative) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 23, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | Sep. 30, 2023 | Sep. 30, 2022 | |
Operating lease cost | $ 10,277 | $ 10,277 | $ 30,830 | $ 30,830 | |
Leasehold tax percentage | 12.84% | ||||
Lease liability | $ 78,757 | ||||
Incremental borrowing rate | 4.125% | ||||
Remaining lease term | 12 months | 12 months | |||
Future payments - 2023 | $ 10,435 | $ 10,435 | |||
Future payments - 2024 | 31,304 | 31,304 | |||
Lease expense | $ 11,576 | $ 11,616 | $ 34,727 | $ 34,849 | |
Monthly Rate Year One [Member] | |||||
Operating lease cost | $ 3,373 | ||||
Monthly Rate Year Two [Member] | |||||
Operating lease cost | $ 3,478 |
CARES ACT RETENTION CREDIT (Det
CARES ACT RETENTION CREDIT (Details Narrative) - USD ($) | Sep. 30, 2023 | Dec. 31, 2022 |
Debt Disclosure [Abstract] | ||
Employee retention tax credit | $ 63,000 |