Cover
Cover - USD ($) | 12 Months Ended | ||
Dec. 31, 2023 | Feb. 06, 2024 | Jun. 30, 2023 | |
Cover [Abstract] | |||
Document Type | 10-K | ||
Amendment Flag | false | ||
Document Annual Report | true | ||
Document Transition Report | false | ||
Document Period End Date | Dec. 31, 2023 | ||
Document Fiscal Period Focus | FY | ||
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 | ||
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 | $ 764,151 | ||
Entity Common Stock, Shares Outstanding | 4,946,502 | ||
ICFR Auditor Attestation Flag | false | ||
Document Financial Statement Error Correction Flag | false | ||
Auditor Name | Assure CPA, LLC. | ||
Auditor Location | Spokane, Washington | ||
Auditor Firm ID | 444 |
BALANCE SHEETS
BALANCE SHEETS - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
CURRENT ASSETS | ||
Cash and cash equivalents | $ 486,252 | $ 751,118 |
Certificates of deposit | 400,000 | 251,699 |
Accounts receivable - net | 52,592 | 141,394 |
Inventories - net | 722,457 | 725,478 |
Prepaid expenses | 19,278 | 42,627 |
Employee retention tax credit receivable (Note 10) | 63,000 | |
Accrued interest receivable | 1,906 | 808 |
Total Current Assets | 1,682,485 | 1,976,124 |
PROPERTY AND EQUIPMENT – NET | 18,255 | 914 |
Right of use – asset, net of amortization (NOTE 8) | 30,298 | 69,419 |
TOTAL ASSETS | 1,731,038 | 2,046,457 |
CURRENT LIABILITIES | ||
Accounts payable | 37,355 | 138,996 |
Accrued wages | 4,188 | 24,777 |
Operating lease liability – current (NOTE 8) | 30,773 | 39,120 |
Accrued vacation payable | 21,243 | 16,846 |
Other accrued liabilities | 10,221 | 8,913 |
Total Current Liabilities | 103,780 | 228,652 |
Operating lease liability (NOTE 8) | 30,457 | |
TOTAL LIABILITIES | 103,780 | 259,109 |
STOCKHOLDERS’ EQUITY | ||
Common stock - $.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 | 689,206 | 849,989 |
TOTAL STOCKHOLDERS’ EQUITY | 1,627,258 | 1,787,348 |
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ 1,731,038 | $ 2,046,457 |
BALANCE SHEETS (Parenthetical)
BALANCE SHEETS (Parenthetical) - $ / shares | Dec. 31, 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 |
STATEMENTS OF OPERATIONS
STATEMENTS OF OPERATIONS - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Income Statement [Abstract] | ||
SALES – NET | $ 1,544,821 | $ 1,910,061 |
COST OF SALES | 749,107 | 881,409 |
GROSS PROFIT | 795,714 | 1,028,652 |
OPERATING EXPENSES | 979,648 | 950,338 |
OPERATING INCOME/(LOSS) | (183,934) | 78,314 |
OTHER INCOME: | ||
Interest income | 23,151 | 5,217 |
Gain on Employee Retention Credit (Note 10) | 63,000 | |
TOTAL OTHER INCOME | 23,151 | 68,217 |
NET INCOME/(LOSS) BEFORE INCOME TAXES | (160,783) | 146,531 |
INCOME TAX PROVISION (BENEFIT) | ||
NET INCOME/(LOSS) AFTER INCOME TAXES | $ (160,783) | $ 146,531 |
STATEMENTS OF OPERATIONS (Paren
STATEMENTS OF OPERATIONS (Parenthetical) - $ / shares | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Income Statement [Abstract] | ||
NET INCOME/(LOSS) PER SHARE, BASIC | $ (0.03) | $ 0.03 |
NET INCOME/(LOSS) PER SHARE, DILUTED | $ (0.03) | $ 0.03 |
WEIGHTED AVERAGE SHARES OUTSTANDING, BASIC | 4,946,502 | 4,946,502 |
WEIGHTED AVERAGE SHARES OUTSTANDING, DILUTED | 4,946,502 | 4,946,502 |
STATEMENTS OF CHANGES IN STOCKH
STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
Beginning balance, value at Dec. 31, 2021 | $ 4,947 | $ 931,412 | $ 703,458 | $ 1,640,817 |
Beginning balance, shares at Dec. 31, 2021 | 4,946,502 | |||
Net loss | 146,531 | 146,531 | ||
Ending balance, value at Dec. 31, 2022 | $ 4,947 | 932,412 | 849,989 | 1,787,348 |
Ending balance, shares at Dec. 31, 2022 | 4,946,502 | |||
Net loss | (160,783) | (160,783) | ||
Share based compensation | 693 | 693 | ||
Ending balance, value at Dec. 31, 2023 | $ 4,947 | $ 933,105 | $ 689,206 | $ 1,627,258 |
Ending balance, shares at Dec. 31, 2023 | 4,946,502 |
STATEMENTS OF CASH FLOWS
STATEMENTS OF CASH FLOWS - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net income/(loss) | $ (160,783) | $ 146,531 |
Noncash expenses included in net income: | ||
Depreciation and amortization | 2,427 | 444 |
Share based compensation | 693 | |
Changes in operating assets and liabilities: | ||
Accounts receivable | 88,802 | 24,909 |
Inventories - net | 3,021 | (223,645) |
Prepaid expenses | 23,349 | (18,241) |
Employee retention tax credit receivable | 63,000 | |
Accrued interest receivable | (1,098) | (773) |
Accounts payable | (101,641) | 67,351 |
Other accrued liabilities and wages | (14,567) | 21,581 |
Net Cash used by Operating Activities | (96,797) | (44,843) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Certificates of deposits purchased | (1,550,000) | (1,002,283) |
Certificates of deposits redeemed | 1,401,699 | 1,150,584 |
Purchase of equipment | (19,768) | |
Net Cash provided (used) by Investing Activities | (168,069) | 148,301 |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Principal payments on CARES Act loan payable (round 1) | (7,956) | |
Net Cash used by Financing Activities | (7,956) | |
NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS | (264,866) | 95,502 |
CASH AND CASH EQUIVALENTS AT BEGINNING OF YEAR | 751,118 | 655,616 |
CASH AND CASH EQUIVALENTS AT END OF YEAR | 486,252 | 751,118 |
Noncash investing and financing activities: | ||
Recognition of operating lease liability and right of use asset | $ 78,757 |
Organization and Summary of Sig
Organization and Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Organization and Summary of Significant Accounting Policies | 1. Organization and Summary of Significant Accounting Policies Business Organization The Company was incorporated under the laws of the State of Washington on February 10, 1984 Effective September 13, 2007, the Company announced their establishment of a “doing business as” or dba structure, based on the Company’s registered trade name of ESTeem® Wireless Modems. Basis of Presentation and Accounting Estimates The preparation of financial statements are prepared in conformity with generally accepted accounting principles in the United States which requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Estimates used in the accompanying financial statements include the allowance for doubtful accounts receivable, inventory obsolescence, useful lives of depreciable assets, share-based compensation, and deferred income taxes. Actual results could differ from those estimates. Concentrations and Credit Risks The Company places its cash with three major financial institutions. During the period, the Company had cash balances that were in excess of federally insured limits. The Company purchases certain key components necessary for the production of its products from a limited number of suppliers. The components provided by the suppliers could be replaced or substituted by other products. It is possible that if this action became necessary, an interruption of production and/or material cost expenditures could take place. Revenue Recognition The Company recognizes revenue when it has satisfied the performance obligation required under a contract with the customer. A performance obligation is a promise in a contract with a customer to transfer a distinct good or service to the customer. Our contracts with customers contain a single performance obligation. A contract’s transaction price is recognized as revenue when, or as, the performance obligation is satisfied. Performance obligations for product sales are satisfied as of a point in time. Revenue is recognized when control of the product transfers to the customer, generally upon product shipment. Performance obligations for site support and engineering services are satisfied over-time if the customer receives the benefits as we perform work and we have a contractual right to payment. Revenue recognized on an over-time basis is based on costs incurred to date relative to milestones and total estimated costs at completion to measure progress. The Company considers the contractual consideration payable by the customer when determining the transaction price of each contract. Revenue is recorded net of charges for certain sales incentives and discounts, and applicable state and local sales taxes, which represent components of the transaction price. Charges are estimated by us upon shipment of the product based on contractual terms, and actual charges typically do not vary materially from our estimates. Shipping estimates are determined by utilizing shipping costs provided by the various service providers websites based on number of packages, weight and destination. Shipping costs are included in the cost of goods sold as the revenue is captured in total sales. The Company receives payments from customers based on the terms established in our contracts. When amounts are billed and collected before the services are performed, they are included in deferred revenues. The Company does not generally sell its products with the right of return. Therefore, returns are accounted for when they occur and are accepted. Products sold to foreign customers are shipped after payment is received in U.S. funds, unless an established distributor relationship exists, or the customer is a foreign branch of a U.S. company. The Company warrants its products as free of manufacturing defects and provides a refund of the purchase price, repair or replacement of the product for a period of one year from the date of installation by the first user/customer. No allowance for estimated warranty repairs or product returns has been recorded due to the Company’s historical experience of repairs and product returns. Financial Instruments The Company’s financial instruments are cash, cash equivalents, and certificates of deposit. The recorded values of cash, and certificates of deposit approximate their fair values based on their short-term nature. Cash and Cash Equivalents Cash and cash equivalents are cash purchased with original maturities of three months or less. Allowance for Uncollectible Accounts The Company uses the allowance method to account for estimated uncollectible accounts receivable. Accounts receivable are presented net of an allowance for doubtful accounts. As of December 31, 2023 and 2022, the Company’s estimate of doubtful accounts was zero 0 Inventories Inventories are stated at lower of direct cost or market. Cost is determined on an average cost basis that approximates the first-in, first-out (FIFO) method. Market is determined based on net realizable value and consideration is given to obsolescence. Property and Equipment Property and equipment are carried at cost. Major betterments are capitalized and de minimis purchases are expensed. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The useful life of property and equipment for purposes of computing depreciation is three to seven years. When the Company sells or otherwise disposes of property and equipment, a gain or loss is recorded in the statement of operations. The cost of improvements that extend the life of property and equipment is capitalized. The Company periodically reviews its long-lived assets for impairment and, upon indication that the carrying value of such assets may not be recoverable, recognizes an impairment loss by a charge against current operations. Certificates of Deposit Certificates of deposit with original maturities ranging from one month to twelve months were $ 400,000 251,699 Leases Contracts that meet the definition of a lease are classified as operating or financing leases and are recorded on the balance sheet as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. Variable lease expenses are recorded when incurred. Income Taxes The provision (benefit) for income taxes is computed on the pretax income (loss) based on the current tax law. Deferred income taxes are recognized for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates. The Company evaluates positive and negative information when estimating the valuation allowance for deferred tax assets. For tax positions that meet the more likely than not recognition threshold a deferred tax asset is recognized. Research and Development Research and development costs are recognized as operating expenses when incurred. Research and development expenditures for new product development and improvements of existing products by the Company for 2023 and 2022 were $ 121,896 163,189 Advertising Costs Costs incurred for producing and communicating advertising are recognized as operating expenses when incurred. Advertising costs for the years ended December 31, 2023 and 2022 were $ 10,038 8,895 Earnings Per Share The Company is required to have dual presentation of basic earnings per share (“EPS”) and diluted EPS. Basic EPS is computed as net income (loss) divided by the weighted average number of common shares outstanding for the period. Diluted EPS is calculated based on the weighted average number of common shares outstanding during the period plus the effect of potentially dilutive common stock equivalents. Potentially dilutive common stock equivalents consist of 225,000 180,000 Share-Based Compensation Share-based payments to employees, including grants of employee stock options, are measured at fair value and expensed in the statement of operations over the vesting period. In addition to the recognition of expense in the financial statements, any excess tax benefits received upon exercise of options will be presented as a financing activity inflow rather than an adjustment of operating activity in the statement of cash flows. The fair value of stock options is determined using a Black-Scholes valuation model. Option pricing models require the input of subjective assumptions including the length of time employees will retain their vested stock options before exercising them, expected share price volatility, and interest rate. Changes in the input assumptions can materially affect the fair value estimate and the Company's net loss. Fair Value Measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. At December 31, 2023 and 2022, the Company has no assets or liabilities subject to fair value measurements on a recurring basis. New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, amending reportable segment disclosure requirements to include disclosure of incremental segment information on an annual and interim basis. Among the disclosure enhancements are new disclosures regarding significant segment expenses that are regularly provided to the chief operating decision-maker and included within each reported measure of segment profit or loss, as well as other segment items bridging segment revenue to each reported measure of segment profit or loss. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, and are applied retrospectively. Early adoption is permitted. We are currently evaluating the impact of this update on our financial statements and disclosures. In December 2023, the FASB issued Accounting Standards Update 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvement to Income Tax Disclosures, amending income tax disclosure requirements for the effective tax rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024 and are applied prospectively. Early adoption and retrospective application of the amendments are permitted. We are currently evaluating the impact of this update on our financial statements and disclosures. Other accounting standards 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 | 12 Months Ended |
Dec. 31, 2023 | |
Inventory Disclosure [Abstract] | |
Inventories | 2. Inventories Inventories consist of the following: Schedule of inventories 2023 2022 Parts $ 118,472 $ 172,190 Work in progress 313,597 336,298 Finished goods 290,388 216,990 Total inventories $ 722,457 $ 725,478 Included in the above amounts are reserves for obsolete inventories of $ 8,935 8,716 |
Property and Equipment
Property and Equipment | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Property and Equipment | 3. Property and Equipment Property and equipment consist of the following at December 31, 2023 and 2022: Schedule of property and equipment 2023 2022 Laboratory equipment $ 554,740 $ 522,575 Software 18,245 35,028 Furniture and fixtures 15,262 16,344 Dies and molds 73,607 73,607 Property plant and equipment, gross 661,854 647,554 Accumulated depreciation and amortization (643,599 ) (646,640 ) Total property plant and equipment, net $ 18,255 $ 914 |
Income Taxes
Income Taxes | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Income Taxes | 4. Income Taxes For the years ended December 31, 2023 and 2022, the Company did not have an income tax benefit nor provision because of continuing losses. The components of net deferred tax assets are as follows: Schedule of deferred tax assets and liabilities December 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 314,500 $ 280,300 Accrued liabilities 4,300 3,500 Inventories 11,600 10,500 Other 1,100 1,200 Federal income tax credits 67,000 67,000 Total deferred tax assets 398,500 362,500 Less valuation allowance (396,000 ) (362,500 ) Total deferred tax assets, net 2,500 — Deferred tax liabilities: Property and equipment (2,500 ) — Total deferred tax liabilities (2,500 ) — Total deferred tax assets, net $ — $ — Realization of the deferred tax asset is dependent on generating sufficient taxable income prior to expiration of the loss carryforwards and the income tax carryforwards. Management determined that it does not believe it is more likely than not that all of the net deferred tax assets will be realized. Therefore, a valuation allowance has been recorded for the full net deferred tax asset at December 31, 2023 and 2022. At December 31, 2023, the Company had approximately $ 67,000 1,498,000 The differences between the provision (benefit) for federal income taxes and federal income taxes computed using the U.S. statutory federal income tax rate of 21% were as follows: Schedule of provision for federal income taxes 2023 2022 Amount computed using the statutory rate $ (33,800 ) $ 30,800 Non-deductible (taxable) items, net 400 (12,900 ) Change in estimates (100 ) 200 ) Change in valuation allowance 33,500 18,000 Provision (benefit) for federal income taxes $ — $ — Should the Company have future accrued interest expense and penalties related to uncertain income tax positions, they will recognize those expenses in income tax expense. The Company files federal income tax returns in the United States only. The Company is no longer subject to federal income tax examination by tax authorities for years before 2020. The Company has evaluated all tax positions for open years and has concluded that they have no material unrecognized tax benefits or penalties. |
Profit Sharing Salary Deferral
Profit Sharing Salary Deferral 401-K Plan | 12 Months Ended |
Dec. 31, 2023 | |
Retirement Benefits [Abstract] | |
Profit Sharing Salary Deferral 401-K Plan | 5. Profit Sharing Salary Deferral 401-K Plan The Company sponsors a Profit-Sharing Plan and Salary Deferral 401-K Plan and Trust. All employees over the age of twenty-one are eligible. On January 1, 2006, the Company adopted a four percent salary matching provision. The Company contributed $ 20,675 20,886 |
Employee Bonus Program
Employee Bonus Program | 12 Months Ended |
Dec. 31, 2023 | |
Employee Bonus Program | |
Employee Bonus Program | 6. Employee Bonus Program The Board of Directors establishes sales and net income thresholds at the start of each year that are used in calculating the amount of bonuses that may be awarded. If these thresholds are not achieved, there will be no bonus issued. Bonus expenses of nil 0 17,719 0 17,719 |
Share-Based Compensation
Share-Based Compensation | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Share-Based Compensation | 7. Share-Based Compensation The Company grants stock options to individual employees and directors. After termination of employment, stock options may be exercised within ninety days, after which they are subject to forfeiture. On June 9, 2023, the Board of Directors granted 45,000 0.40 5 0.24 104.1 5 95 3.92 In the years ended December 31, 2023 and 2022, the Company recognized $ 693 0 A summary of option activity follows: Schedule of stock option activity Number Weighted Weighted Balance at December 31, 2021 240,000 0.40 3.6 Canceled (60,000 ) 0.40 Balance at December 31, 2022 180,000 $ 0.40 2.5 Granted 45,000 0.40 Balance at December 31, 2023 225,000 $ 0.40 1.7 Outstanding and Exercisable at December 31, 2023 225,000 $ 0.40 1.7 The aggregate intrinsic value of the options outstanding and exercisable at December 31, 2023 was nil. |
Leases
Leases | 12 Months Ended |
Dec. 31, 2023 | |
Leases | |
Leases | 8. Leases On September 19, 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 Prior to the new lease in September 19, 2022, the Company’s lease for its facilities was for $ 3,806 As of December 31, 2023, total future lease payments are as follows: Schedule of future minimum lease payment For the 12 months ended December 31, 2024 31,304 Less imputed interest (531 ) Net lease liability 30,773 For the years ended December 31, 2023 and 2022, costs relating to the operating lease were recognized in the statement of operations as follows: Schedule of cost related to operating lease 2023 2022 Cost of Operating Total Cost of Operating Total Base rent pursuant to lease agreement $ 23,002 $ 18,104 $ 41,106 $ 23,002 $ 18,104 $ 41,106 Variable lease costs 2,931 2,306 5,237 2,976 2,342 5,319 Total lease costs $ 25,933 $ 20,410 $ 46,343 $ 25,978 $ 20,446 $ 46,425 |
Revenue
Revenue | 12 Months Ended |
Dec. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Revenue | 9. Revenue The Company derives revenues from the sales of 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. The Company’s customers, to which trade credit terms are extended, consist of United States and local governments and foreign and domestic companies. Schedule of revenue by products For the years ending December 31, 2023 2022 Domestic Sales Foreign Sales Total Sales Domestic Sales Foreign Sales Total Sales Product Sales 1,461,785 56,136 1,517,921 1,668,861 212,800 1,881,661 Site Support Sales 26,900 — 26,900 28,400 — 28,400 Total Sales 1,488,685 56,136 1,544,821 1,697,261 212,800 1,910,061 For the year ended December 31, 2023 and 2022, sales to customers that are more than 10% of total revenue are as follows: Schedule of revenue by customers 2023 Sales 2023 % age of 2022 Sales 2022 % age of Domestic customer A $ 307,048 19.9 % $ 397,671 20.8 % Domestic customer B $ — — 201,459 10.5 % Revenue continued As of December 31, 2023 and 2022, accounts receivable from customers that are more than 10% of the total accounts receivable balance are as follows: Schedule of accounts receivable from customers Accounts Receivable Balance % age of Receivable Accounts Receivable Balance % age of Receivable Domestic customer A $ 14,087 26.8 % $ 95,724 67.7 % Domestic customer B 10,806 20.5 16,037 11.3 Domestic customer C 6,478 12.3 — — Domestic customer D 5,956 11.3 — — Domestic customer E 5,265 10.0 — — As of December 31, 2023 and 2022, the Company had a sales order backlog of $ 55,636 49,173 |
Employee Retention Credit
Employee Retention Credit | 12 Months Ended |
Dec. 31, 2023 | |
Employee Retention Credit | |
Employee Retention Credit | 10. Employee Retention Credit The Company received $ 63,000 63,000 |
Supplemental Information
Supplemental Information | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Supplemental Information | Supplemental Information Supplemental schedule of operating expenses 2023 2022 Advertising $ 10,038 $ 8,895 Dues and subscriptions 3,772 3,547 Depreciation and amortization 2,427 444 Insurance 14,632 13,485 Materials and supplies 9,341 10,370 Office and administration 7,008 4,890 Printing 2,306 2,658 Professional services 101,923 91,096 Services purchased in lieu of payroll — 45,875 Rent and utilities 52,085 50,308 Repair and maintenance 423 4,259 Salaries and benefits 715,863 696,665 Taxes, licenses & health insurance 203,124 194,839 Telephone 4,778 5,372 Warranty expense 2,353 2,897 Trade shows 15,505 12,199 Travel expenses 29,100 15,984 Expenses before allocated to cost of sales 1,174,678 1,163,783 Expenses allocated to cost of sales (195,030 ) (213,445 ) Total Operating Expenses $ 979,648 $ 950,338 |
Organization and Summary of S_2
Organization and Summary of Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Business Organization | Business Organization The Company was incorporated under the laws of the State of Washington on February 10, 1984 Effective September 13, 2007, the Company announced their establishment of a “doing business as” or dba structure, based on the Company’s registered trade name of ESTeem® Wireless Modems. |
Basis of Presentation and Accounting Estimates | Basis of Presentation and Accounting Estimates The preparation of financial statements are prepared in conformity with generally accepted accounting principles in the United States which requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses. Estimates used in the accompanying financial statements include the allowance for doubtful accounts receivable, inventory obsolescence, useful lives of depreciable assets, share-based compensation, and deferred income taxes. Actual results could differ from those estimates. |
Concentrations and Credit Risks | Concentrations and Credit Risks The Company places its cash with three major financial institutions. During the period, the Company had cash balances that were in excess of federally insured limits. The Company purchases certain key components necessary for the production of its products from a limited number of suppliers. The components provided by the suppliers could be replaced or substituted by other products. It is possible that if this action became necessary, an interruption of production and/or material cost expenditures could take place. |
Revenue Recognition | Revenue Recognition The Company recognizes revenue when it has satisfied the performance obligation required under a contract with the customer. A performance obligation is a promise in a contract with a customer to transfer a distinct good or service to the customer. Our contracts with customers contain a single performance obligation. A contract’s transaction price is recognized as revenue when, or as, the performance obligation is satisfied. Performance obligations for product sales are satisfied as of a point in time. Revenue is recognized when control of the product transfers to the customer, generally upon product shipment. Performance obligations for site support and engineering services are satisfied over-time if the customer receives the benefits as we perform work and we have a contractual right to payment. Revenue recognized on an over-time basis is based on costs incurred to date relative to milestones and total estimated costs at completion to measure progress. The Company considers the contractual consideration payable by the customer when determining the transaction price of each contract. Revenue is recorded net of charges for certain sales incentives and discounts, and applicable state and local sales taxes, which represent components of the transaction price. Charges are estimated by us upon shipment of the product based on contractual terms, and actual charges typically do not vary materially from our estimates. Shipping estimates are determined by utilizing shipping costs provided by the various service providers websites based on number of packages, weight and destination. Shipping costs are included in the cost of goods sold as the revenue is captured in total sales. The Company receives payments from customers based on the terms established in our contracts. When amounts are billed and collected before the services are performed, they are included in deferred revenues. The Company does not generally sell its products with the right of return. Therefore, returns are accounted for when they occur and are accepted. Products sold to foreign customers are shipped after payment is received in U.S. funds, unless an established distributor relationship exists, or the customer is a foreign branch of a U.S. company. The Company warrants its products as free of manufacturing defects and provides a refund of the purchase price, repair or replacement of the product for a period of one year from the date of installation by the first user/customer. No allowance for estimated warranty repairs or product returns has been recorded due to the Company’s historical experience of repairs and product returns. |
Financial Instruments | Financial Instruments The Company’s financial instruments are cash, cash equivalents, and certificates of deposit. The recorded values of cash, and certificates of deposit approximate their fair values based on their short-term nature. |
Cash and Cash Equivalents | Cash and Cash Equivalents Cash and cash equivalents are cash purchased with original maturities of three months or less. |
Allowance for Uncollectible Accounts | Allowance for Uncollectible Accounts The Company uses the allowance method to account for estimated uncollectible accounts receivable. Accounts receivable are presented net of an allowance for doubtful accounts. As of December 31, 2023 and 2022, the Company’s estimate of doubtful accounts was zero 0 |
Inventories | Inventories Inventories are stated at lower of direct cost or market. Cost is determined on an average cost basis that approximates the first-in, first-out (FIFO) method. Market is determined based on net realizable value and consideration is given to obsolescence. |
Property and Equipment | Property and Equipment Property and equipment are carried at cost. Major betterments are capitalized and de minimis purchases are expensed. Depreciation is computed using the straight-line method over the estimated useful lives of the assets. The useful life of property and equipment for purposes of computing depreciation is three to seven years. When the Company sells or otherwise disposes of property and equipment, a gain or loss is recorded in the statement of operations. The cost of improvements that extend the life of property and equipment is capitalized. The Company periodically reviews its long-lived assets for impairment and, upon indication that the carrying value of such assets may not be recoverable, recognizes an impairment loss by a charge against current operations. |
Certificates of Deposit | Certificates of Deposit Certificates of deposit with original maturities ranging from one month to twelve months were $ 400,000 251,699 |
Leases | Leases Contracts that meet the definition of a lease are classified as operating or financing leases and are recorded on the balance sheet as both a right-of-use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or the Company’s incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right-of-use asset is amortized over the lease term. For operating leases, interest on the lease liability and the amortization of the right-of-use asset result in straight-line rent expense over the lease term. Variable lease expenses are recorded when incurred. |
Income Taxes | Income Taxes The provision (benefit) for income taxes is computed on the pretax income (loss) based on the current tax law. Deferred income taxes are recognized for the tax consequences in future years of differences between the tax basis of assets and liabilities and their financial reporting amounts at each year-end based on enacted tax laws and statutory tax rates. The Company evaluates positive and negative information when estimating the valuation allowance for deferred tax assets. For tax positions that meet the more likely than not recognition threshold a deferred tax asset is recognized. |
Research and Development | Research and Development Research and development costs are recognized as operating expenses when incurred. Research and development expenditures for new product development and improvements of existing products by the Company for 2023 and 2022 were $ 121,896 163,189 |
Advertising Costs | Advertising Costs Costs incurred for producing and communicating advertising are recognized as operating expenses when incurred. Advertising costs for the years ended December 31, 2023 and 2022 were $ 10,038 8,895 |
Earnings Per Share | Earnings Per Share The Company is required to have dual presentation of basic earnings per share (“EPS”) and diluted EPS. Basic EPS is computed as net income (loss) divided by the weighted average number of common shares outstanding for the period. Diluted EPS is calculated based on the weighted average number of common shares outstanding during the period plus the effect of potentially dilutive common stock equivalents. Potentially dilutive common stock equivalents consist of 225,000 180,000 |
Share-Based Compensation | Share-Based Compensation Share-based payments to employees, including grants of employee stock options, are measured at fair value and expensed in the statement of operations over the vesting period. In addition to the recognition of expense in the financial statements, any excess tax benefits received upon exercise of options will be presented as a financing activity inflow rather than an adjustment of operating activity in the statement of cash flows. The fair value of stock options is determined using a Black-Scholes valuation model. Option pricing models require the input of subjective assumptions including the length of time employees will retain their vested stock options before exercising them, expected share price volatility, and interest rate. Changes in the input assumptions can materially affect the fair value estimate and the Company's net loss. |
Fair Value Measurements | Fair Value Measurements When required to measure assets or liabilities at fair value, the Company uses a fair value hierarchy based on the level of independent, objective evidence surrounding the inputs used. The Company determines the level within the fair value hierarchy in which the fair value measurements in their entirety fall. The categorization within the fair value hierarchy is based upon the lowest level of input that is significant to the fair value measurement. Level 1 uses quoted prices in active markets for identical assets or liabilities, Level 2 uses significant other observable inputs, and Level 3 uses significant unobservable inputs. The amount of the total gains or losses for the period are included in earnings that are attributable to the change in unrealized gains or losses relating to those assets and liabilities still held at the reporting date. At December 31, 2023 and 2022, the Company has no assets or liabilities subject to fair value measurements on a recurring basis. |
New Accounting Pronouncements | New Accounting Pronouncements In November 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update 2023-07 (“ASU 2023-07”), Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures, amending reportable segment disclosure requirements to include disclosure of incremental segment information on an annual and interim basis. Among the disclosure enhancements are new disclosures regarding significant segment expenses that are regularly provided to the chief operating decision-maker and included within each reported measure of segment profit or loss, as well as other segment items bridging segment revenue to each reported measure of segment profit or loss. The amendments in ASU 2023-07 are effective for fiscal years beginning after December 15, 2023, and for interim periods within fiscal years beginning after December 15, 2024, and are applied retrospectively. Early adoption is permitted. We are currently evaluating the impact of this update on our financial statements and disclosures. In December 2023, the FASB issued Accounting Standards Update 2023-09 (“ASU 2023-09”), Income Taxes (Topic 740): Improvement to Income Tax Disclosures, amending income tax disclosure requirements for the effective tax rate reconciliation and income taxes paid. The amendments in ASU 2023-09 are effective for fiscal years beginning after December 15, 2024 and are applied prospectively. Early adoption and retrospective application of the amendments are permitted. We are currently evaluating the impact of this update on our financial statements and disclosures. Other accounting standards 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 (Tables)
Inventories (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Inventory Disclosure [Abstract] | |
Schedule of inventories | Schedule of inventories 2023 2022 Parts $ 118,472 $ 172,190 Work in progress 313,597 336,298 Finished goods 290,388 216,990 Total inventories $ 722,457 $ 725,478 |
Property and Equipment (Tables)
Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Property, Plant and Equipment [Abstract] | |
Schedule of property and equipment | Schedule of property and equipment 2023 2022 Laboratory equipment $ 554,740 $ 522,575 Software 18,245 35,028 Furniture and fixtures 15,262 16,344 Dies and molds 73,607 73,607 Property plant and equipment, gross 661,854 647,554 Accumulated depreciation and amortization (643,599 ) (646,640 ) Total property plant and equipment, net $ 18,255 $ 914 |
Income Taxes (Tables)
Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Income Tax Disclosure [Abstract] | |
Schedule of deferred tax assets and liabilities | Schedule of deferred tax assets and liabilities December 31, 2023 2022 Deferred tax assets: Net operating loss carryforwards $ 314,500 $ 280,300 Accrued liabilities 4,300 3,500 Inventories 11,600 10,500 Other 1,100 1,200 Federal income tax credits 67,000 67,000 Total deferred tax assets 398,500 362,500 Less valuation allowance (396,000 ) (362,500 ) Total deferred tax assets, net 2,500 — Deferred tax liabilities: Property and equipment (2,500 ) — Total deferred tax liabilities (2,500 ) — Total deferred tax assets, net $ — $ — |
Schedule of provision for federal income taxes | Schedule of provision for federal income taxes 2023 2022 Amount computed using the statutory rate $ (33,800 ) $ 30,800 Non-deductible (taxable) items, net 400 (12,900 ) Change in estimates (100 ) 200 ) Change in valuation allowance 33,500 18,000 Provision (benefit) for federal income taxes $ — $ — |
Share-Based Compensation (Table
Share-Based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Share-Based Payment Arrangement [Abstract] | |
Schedule of stock option activity | Schedule of stock option activity Number Weighted Weighted Balance at December 31, 2021 240,000 0.40 3.6 Canceled (60,000 ) 0.40 Balance at December 31, 2022 180,000 $ 0.40 2.5 Granted 45,000 0.40 Balance at December 31, 2023 225,000 $ 0.40 1.7 Outstanding and Exercisable at December 31, 2023 225,000 $ 0.40 1.7 |
Leases (Tables)
Leases (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Leases | |
Schedule of future minimum lease payment | Schedule of future minimum lease payment For the 12 months ended December 31, 2024 31,304 Less imputed interest (531 ) Net lease liability 30,773 |
Schedule of cost related to operating lease | Schedule of cost related to operating lease 2023 2022 Cost of Operating Total Cost of Operating Total Base rent pursuant to lease agreement $ 23,002 $ 18,104 $ 41,106 $ 23,002 $ 18,104 $ 41,106 Variable lease costs 2,931 2,306 5,237 2,976 2,342 5,319 Total lease costs $ 25,933 $ 20,410 $ 46,343 $ 25,978 $ 20,446 $ 46,425 |
Revenue (Tables)
Revenue (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Revenue from Contract with Customer [Abstract] | |
Schedule of revenue by products | Schedule of revenue by products For the years ending December 31, 2023 2022 Domestic Sales Foreign Sales Total Sales Domestic Sales Foreign Sales Total Sales Product Sales 1,461,785 56,136 1,517,921 1,668,861 212,800 1,881,661 Site Support Sales 26,900 — 26,900 28,400 — 28,400 Total Sales 1,488,685 56,136 1,544,821 1,697,261 212,800 1,910,061 |
Schedule of revenue by customers | Schedule of revenue by customers 2023 Sales 2023 % age of 2022 Sales 2022 % age of Domestic customer A $ 307,048 19.9 % $ 397,671 20.8 % Domestic customer B $ — — 201,459 10.5 % |
Schedule of accounts receivable from customers | Schedule of accounts receivable from customers Accounts Receivable Balance % age of Receivable Accounts Receivable Balance % age of Receivable Domestic customer A $ 14,087 26.8 % $ 95,724 67.7 % Domestic customer B 10,806 20.5 16,037 11.3 Domestic customer C 6,478 12.3 — — Domestic customer D 5,956 11.3 — — Domestic customer E 5,265 10.0 — — |
Supplemental Information (Table
Supplemental Information (Tables) | 12 Months Ended |
Dec. 31, 2023 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Supplemental schedule of operating expenses | Supplemental schedule of operating expenses 2023 2022 Advertising $ 10,038 $ 8,895 Dues and subscriptions 3,772 3,547 Depreciation and amortization 2,427 444 Insurance 14,632 13,485 Materials and supplies 9,341 10,370 Office and administration 7,008 4,890 Printing 2,306 2,658 Professional services 101,923 91,096 Services purchased in lieu of payroll — 45,875 Rent and utilities 52,085 50,308 Repair and maintenance 423 4,259 Salaries and benefits 715,863 696,665 Taxes, licenses & health insurance 203,124 194,839 Telephone 4,778 5,372 Warranty expense 2,353 2,897 Trade shows 15,505 12,199 Travel expenses 29,100 15,984 Expenses before allocated to cost of sales 1,174,678 1,163,783 Expenses allocated to cost of sales (195,030 ) (213,445 ) Total Operating Expenses $ 979,648 $ 950,338 |
Organization and Summary of S_3
Organization and Summary of Significant Accounting Policies (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Entity incorporation, date of incorporation | Feb. 10, 1984 | |
Allowance for doubtful accounts | $ 0 | $ 0 |
Certificates of deposits | 400,000 | 251,699 |
Research and development expenditures | 121,896 | 163,189 |
Advertising costs | $ 10,038 | $ 8,895 |
Anti-dilutive | 225,000 | 180,000 |
Inventories (Details)
Inventories (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Inventory Disclosure [Abstract] | ||
Parts | $ 118,472 | $ 172,190 |
Work in progress | 313,597 | 336,298 |
Finished goods | 290,388 | 216,990 |
Total inventories | $ 722,457 | $ 725,478 |
Inventories (Details Narrative)
Inventories (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Inventory Disclosure [Abstract] | ||
Reserves for obsolete inventories | $ 8,935 | $ 8,716 |
Property and Equipment (Details
Property and Equipment (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Property, Plant and Equipment [Abstract] | ||
Laboratory equipment | $ 554,740 | $ 522,575 |
Software | 18,245 | 35,028 |
Furniture and fixtures | 15,262 | 16,344 |
Dies and molds | 73,607 | 73,607 |
Property plant and equipment, gross | 661,854 | 647,554 |
Accumulated depreciation and amortization | (643,599) | (646,640) |
Total property plant and equipment, net | $ 18,255 | $ 914 |
Income Taxes (Details)
Income Taxes (Details) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Deferred tax assets: | ||
Net operating loss carryforwards | $ 314,500 | $ 280,300 |
Accrued liabilities | 4,300 | 3,500 |
Inventories | 11,600 | 10,500 |
Other | 1,100 | 1,200 |
Federal income tax credits | 67,000 | 67,000 |
Total deferred tax assets | 398,500 | 362,500 |
Less valuation allowance | (396,000) | (362,500) |
Total deferred tax assets, net | 2,500 | |
Deferred tax liabilities: | ||
Property and equipment | (2,500) | |
Total deferred tax liabilities | (2,500) | |
Total deferred tax assets, net |
Income Taxes (Details 1)
Income Taxes (Details 1) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Income Tax Disclosure [Abstract] | ||
Amount computed using the statutory rate | $ (33,800) | $ 30,800 |
Non-deductible (taxable) items, net | 400 | (12,900) |
Change in estimates | (100) | 200 |
Change in valuation allowance | 33,500 | 18,000 |
Provision (benefit) for federal income taxes |
Income Taxes (Details Narrative
Income Taxes (Details Narrative) | 12 Months Ended |
Dec. 31, 2023 USD ($) | |
Income Tax Disclosure [Abstract] | |
Research and development income tax | $ 67,000 |
Operating loss carryforwards | $ 1,498,000 |
Profit Sharing Salary Deferra_2
Profit Sharing Salary Deferral 401-K Plan (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Retirement Benefits [Abstract] | ||
Profit-sharing plan and salary | $ 20,675 | $ 20,886 |
Employee Bonus Program (Details
Employee Bonus Program (Details Narrative) - USD ($) | Dec. 31, 2023 | Dec. 31, 2022 |
Employee Bonus Program | ||
Bonus expenses | $ 0 | $ 17,719 |
Accrued wages | $ 0 | $ 17,719 |
Share-Based Compensation (Detai
Share-Based Compensation (Details) - Equity Option [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2023 | Dec. 31, 2022 | Dec. 31, 2021 | |
Offsetting Assets [Line Items] | |||
Number of outstanding, Beginning balance | 180,000 | 240,000 | |
Weighted average exercise price per option, Beginning balance | $ 0.40 | $ 0.40 | |
Weighted average remaining contractual term (years) | 1 year 8 months 12 days | 2 years 6 months | 3 years 7 months 6 days |
Number of outstanding, Canceled | (60,000) | ||
Weighted average exercise price per option, Canceled | $ 0.40 | ||
Number of outstanding, Granted | 45,000 | ||
Weighted average exercise price per option, Granted | $ 0.40 | ||
Number of outstanding, Ending balance | 225,000 | 180,000 | 240,000 |
Weighted average exercise price per option, Ending balance | $ 0.40 | $ 0.40 | $ 0.40 |
Outstanding and Exercisable | 225,000 | ||
Weighted average exercise price per option, Outstanding and exercisable | $ 0.40 | ||
Weighted average remaining contractual term (years), Outstanding and exercisable | 1 year 8 months 12 days |
Share-Based Compensation (Det_2
Share-Based Compensation (Details Narrative) - USD ($) | 12 Months Ended | ||
Jun. 09, 2023 | Dec. 31, 2023 | Dec. 31, 2022 | |
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Share based compensation | $ 693 | $ 0 | |
Share-Based Payment Arrangement, Option [Member] | |||
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items] | |||
Granted | 45,000 | ||
Options exercise price | $ 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% |
Leases (Details)
Leases (Details) - USD ($) | Dec. 31, 2023 | Sep. 19, 2022 |
For the 12 months ended | ||
December 31, 2024 | $ 31,304 | |
Less imputed interest | (531) | |
Net lease liability | $ 30,773 | $ 78,757 |
Leases (Details 2)
Leases (Details 2) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Base rent pursuant to lease agreement | $ 41,106 | $ 41,106 |
Variable lease costs | 5,237 | 5,319 |
Total lease costs | 46,343 | 46,425 |
Cost of Sales [Member] | ||
Base rent pursuant to lease agreement | 23,002 | 23,002 |
Variable lease costs | 2,931 | 2,976 |
Total lease costs | 25,933 | 25,978 |
Operating Expense [Member] | ||
Base rent pursuant to lease agreement | 18,104 | 18,104 |
Variable lease costs | 2,306 | 2,342 |
Total lease costs | $ 20,410 | $ 20,446 |
Leases (Details Narrative)
Leases (Details Narrative) - USD ($) | 12 Months Ended | ||
Sep. 19, 2022 | Dec. 31, 2023 | Dec. 31, 2022 | |
Base lease | $ 41,106 | $ 41,106 | |
Leasehold tax percentage | 12.84% | ||
Lease liability | $ 78,757 | 30,773 | |
Right of use assets | $ 78,757 | $ 30,298 | $ 69,419 |
Incremental borrowing rate | 4.125% | ||
Operating lease expense | $ 3,806 | ||
Monthly Rate Year One [Member] | |||
Base lease | 3,373 | ||
Monthly Rate Year Two [Member] | |||
Base lease | $ 3,478 |
Revenue (Details)
Revenue (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Total Sales | $ 1,544,821 | $ 1,910,061 |
Product [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 1,517,921 | 1,881,661 |
Site Support Sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 26,900 | 28,400 |
Geographic Distribution, Domestic [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 1,488,685 | 1,697,261 |
Geographic Distribution, Domestic [Member] | Product [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 1,461,785 | 1,668,861 |
Geographic Distribution, Domestic [Member] | Site Support Sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 26,900 | 28,400 |
Geographic Distribution, Foreign [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 56,136 | 212,800 |
Geographic Distribution, Foreign [Member] | Product [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales | 56,136 | 212,800 |
Geographic Distribution, Foreign [Member] | Site Support Sales [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Total Sales |
Revenue (Details 1)
Revenue (Details 1) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Disaggregation of Revenue [Line Items] | ||
Revenues | $ 1,544,821 | $ 1,910,061 |
Geographic Distribution, Domestic [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | 1,488,685 | 1,697,261 |
Customer Concentration Risk [Member] | Geographic Distribution, Domestic [Member] | Revenue Benchmark [Member] | Customer A [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | $ 307,048 | $ 397,671 |
Concentration risk, percentage | 19.90% | 20.80% |
Customer Concentration Risk [Member] | Geographic Distribution, Domestic [Member] | Revenue Benchmark [Member] | Customer B [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Revenues | $ 201,459 | |
Concentration risk, percentage | 10.50% |
Revenue (Details 2)
Revenue (Details 2) - Customer Concentration Risk [Member] - Geographic Distribution, Domestic [Member] - Accounts Receivable [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Customer A [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Account receivable | $ 14,087 | $ 95,724 |
Concentration risk, percentage | 26.80% | 67.70% |
Customer B [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Account receivable | $ 10,806 | $ 16,037 |
Concentration risk, percentage | 20.50% | 11.30% |
Customer C [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Account receivable | $ 6,478 | |
Concentration risk, percentage | 12.30% | |
Customer D [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Account receivable | $ 5,956 | |
Concentration risk, percentage | 11.30% | |
Customer E [Member] | ||
Disaggregation of Revenue [Line Items] | ||
Account receivable | $ 5,265 | |
Concentration risk, percentage | 10% |
Revenue (Details Narrative)
Revenue (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Revenue from Contract with Customer [Abstract] | ||
Sales order backlog | $ 55,636 | $ 49,173 |
Employee Retention Credit (Deta
Employee Retention Credit (Details Narrative) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Employee Retention Credit | ||
Employee retention tax credit received amount | $ 63,000 | |
Income on employee retention credit | $ 63,000 |
Supplemental Information (Detai
Supplemental Information (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2023 | Dec. 31, 2022 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Advertising | $ 10,038 | $ 8,895 |
Dues and subscriptions | 3,772 | 3,547 |
Depreciation and amortization | 2,427 | 444 |
Insurance | 14,632 | 13,485 |
Materials and supplies | 9,341 | 10,370 |
Office and administration | 7,008 | 4,890 |
Printing | 2,306 | 2,658 |
Professional services | 101,923 | 91,096 |
Services purchased in lieu of payroll | 45,875 | |
Rent and utilities | 52,085 | 50,308 |
Repair and maintenance | 423 | 4,259 |
Salaries and benefits | 715,863 | 696,665 |
Taxes, licenses & health insurance | 203,124 | 194,839 |
Telephone | 4,778 | 5,372 |
Warranty expense | 2,353 | 2,897 |
Trade shows | 15,505 | 12,199 |
Travel expenses | 29,100 | 15,984 |
Expenses before allocated to cost of sales | 1,174,678 | 1,163,783 |
Expenses allocated to cost of sales | (195,030) | (213,445) |
Total Operating Expenses | $ 979,648 | $ 950,338 |