Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | 2. Summary of Significant Accounting Policies Use of Estimates Preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Estimates are used for, but not Revenue Recognition Revenue is recognized based on the five 606: Step 1 Identify the Contract with the Customer Step 2 Identify Performance Obligations in the Contract not Step 3 Determine the Transaction Price Step 4 Allocate the Transaction Price one Step 5 Satisfaction of the Performance Obligations (and Recognize Revenue) Device Sales Device sales include devices and consumables for BioArchive, AXP, not Service Revenue Service revenue principally consists of maintenance contracts for BioArchive, AXP and CAR-TXpress products. Devices sold have warranty periods of one two one three not Cell Processing Services Point of care procedures are recognized when the procedures are performed. Cord blood processing and storage is recognized as the performance obligations are satisfied. Processing revenue is recognized when that performance obligation is completed immediately after the baby's birth, with storage revenue recorded as deferred revenue and recognized ratably over the contract term up to 21 December 31, 2020 2019, $216,000 $237,000, December 31, 2020, $8,000 $208,000 may The following table summarizes the revenues by product line: Year Ended December 31, 2020 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 4,774,000 $ 160,000 $ -- $ 4,934,000 BioArchive 855,000 1,177,000 -- 2,032,000 Manual Disposables 599,000 -- -- 599,000 CAR-TXpress 1,471,000 71,000 286,000 1,828,000 Other 289,000 -- 62,000 351,000 Total $ 7,988,000 $ 1,408,000 $ 348,000 $ 9,744,000 Year Ended December 31, 2019 Device Revenue Service Revenue Other Revenue Total Revenue AXP $ 7,313,000 $ 209,000 $ -- $ 7,522,000 BioArchive 1,472,000 1,438,000 -- 2,910,000 Manual Disposables 977,000 -- -- 977,000 CAR-TXpress 1,457,000 13,000 95,000 1,565,000 Other -- 22,000 51,000 73,000 Total $ 11,219,000 $ 1,682,000 $ 146,000 $ 13,047,000 Except for limited exceptions in the Company's agreement with its CAR-TXpress distributor, there was no no not may not Payments from domestic customers are normally due in two may 120 no Contract Balances Generally, all sales are contract sales (with either an underlying contract or purchase order). The Company does not December 31, 2020 2019 $620,000 $1,049,000, $608,000 $620,000 December 31, 2020 2019, $1,596,000 $1,901,000 December 31, 2020 2019, Exclusivity Fee On August 30, 2019, five two X $2,000,000 The Company performed an evaluation of the revenue recognition of the $2,000,000 606. $2,000,000 one two five seven seven $286,000 $96,000 December 31, 2020 2019, Backlog of Remaining Customer Performance Obligations The following table includes revenue expected to be recognized and recorded as sales in the future from the backlog of performance obligations that are unsatisfied (or partially unsatisfied) at the end of the reporting period. 2021 2022 2023 2024 2025 2026 and beyond Total Service revenue $ 1,235,000 $ 674,000 $ 412,000 $ 151,000 $ 85,000 $ -- $ 2,557,000 Clinical revenue 13,000 13,000 13,000 14,000 13,000 150,000 216,000 Exclusivity fee 286,000 286,000 286,000 286,000 286,000 188,000 1,618,000 Total $ 1,534,000 $ 973,000 $ 711,000 $ 451,000 $ 384,000 $ 338,000 $ 4,391,000 Revenues are net of normal discounts. Shipping and handling fees billed to customers are included in net revenues, while the related costs are included in cost of revenues. Cash and Cash Equivalents The Company considers all highly liquid investments with a maturity of three may $83,000 $10,000 December 31, 2020 2019 not Foreign Currency Translation The Company's reporting currency is the US dollar. The functional currency of the Company's subsidiary in India is the Indian rupee (“INR”). Assets and liabilities are translated into US dollars at period end exchange rates. Revenue and expenses are translated at average rates of exchange prevailing during the periods presented. Cash flows are also translated at average exchange rates for the period, therefore, amounts reported on the consolidated statement of cash flows do not $14,000 $15,000 December 31, 2020 2019, Goodwill, Intangible Assets and Impairment Assessments Goodwill represents the excess of the purchase price in a business combination over the fair value of net tangible and intangible assets acquired. Intangible assets that are not three ten For goodwill and indefinite-lived intangible assets, the carrying amounts are periodically reviewed for impairment (at least annually) and whenever events or changes in circumstances indicate that the carrying value of these assets may not 350 , Intangibles-Goodwill and Other not 50 Fair Value of Financial Instruments In accordance with ASC 820, Fair Value Measurements and Disclosures The guidance also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs be used when available. Observable inputs are inputs that market participants would use in valuing the asset or liability and are developed based on market data obtained from sources independent of the Company. Unobservable inputs are inputs that reflect the Company's assumptions about the factors that market participants would use in valuing the asset or liability. The guidance establishes three may Level 1: Level 2: 1 not Level 3: The carrying values of cash and cash equivalents, accounts receivable and accounts payable approximate fair value due to their short duration. The fair value of the Company's derivative obligation liability is classified as Level 3 Accounts Receivable and Allowance for Doubtful Accounts The Company's receivables are recorded when billed and represent claims against third may Inventories Inventories are stated at the lower of cost or net realizable value and include the cost of material, labor and manufacturing overhead. Cost is determined on the first first not Because some of the Company's products are highly dependent on government and third may may At times, the Company will purchase inventories in larger quantities to obtain volume purchase discounts. In some cases, purchases may not December 31, 2020 December 31, 2019, $1,221,000 $340,000, Equipment and Leasehold Improvements Equipment consisting of machinery and equipment, computers and software, office equipment and leasehold improvements is recorded at cost less accumulated depreciation. Repairs and maintenance costs are expensed as incurred. Depreciation for machinery and equipment, computers and software and office furniture is computed under the straight-line method over the estimated useful lives. Leasehold improvements are amortized under the straight-line method over their estimated useful lives or the remaining lease period, whichever is shorter. When equipment and leasehold improvements are sold or otherwise disposed of, the asset account and related accumulated depreciation account are relieved, and the impact of any resulting gain or loss is recognized within general and administrative expenses in the consolidated statement of operations for the period. Warranty We provide for the estimated cost of product warranties at the time revenue is recognized. While we engage in extensive product quality programs and processes, including actively monitoring and evaluating the quality of our component suppliers, our warranty obligation is affected by product failure rates, material usage and service delivery costs incurred in correcting a product failure. Should actual product failure rates, material usage or service delivery costs differ from our estimates, revisions to the estimated warranty liability could have a material impact on our financial position, cash flows or results of operations. Debt Discount and Issue Costs The Company amortizes debt discount and debt issue costs over the life of the associated debt instrument, using the straight-line method which approximates the interest rate method. Derivative Financial Instruments In connection with the sale of convertible debt and equity instruments, the Company may first Stock-Based Compensation We use the Black-Scholes-Merton option-pricing formula in determining the fair value of our options at the grant date and apply judgment in estimating the key assumptions that are critical to the model such as the expected term, volatility and forfeiture rate of an option. Our estimate of these key assumptions is based on historical information and judgment regarding market factors and trends. If any of the key assumptions change significantly, stock-based compensation expense for new awards may The Company has three Note 11 Valuation and Amortization Method – The Company estimates the fair value of stock options granted using the Black-Scholes-Merton option-pricing formula. This fair value is then amortized on a straight-line basis over the requisite service periods of the awards, which is generally the vesting period. The formula does not not Expected Term – For options which the Company has limited available data, the expected term of the option is based on the simplified method. This simplified method averages an award's vesting term and its contractual term. For all other options, the Company's expected term represents the period that the Company's stock-based awards are expected to be outstanding and was determined based on historical experience of similar awards, giving consideration to the contractual terms of the stock-based awards, vesting schedules and expectations of future employee behavior. Expected Volatility – Expected volatility is based on historical volatility. Historical volatility is computed using daily pricing observations for recent periods that correspond to the expected term of the options. Expected Dividend – The Company has not not zero Risk-Free Interest Rate – The Company bases the risk-free interest rate used in the valuation method on the implied yield currently available on U.S. Treasury zero Forfeitures – The Company recognizes forfeitures as they occur. Research and Development Research and development costs, consisting of salaries and benefits, costs of disposables, facility costs, contracted services and stock-based compensation from the engineering, regulatory and scientific affairs departments, that are useful in developing and clinically testing new products, services, processes or techniques, as well as expenses for activities that may no Acquired In-Process Research and Development Acquired in-process research and development that the Company acquires through business combinations represents the fair value assigned to incomplete research projects which, at the time of acquisition, have not first not not Patent Costs The costs incurred in connection with patent applications, in defending and maintaining intellectual property rights and litigation proceedings are expensed as incurred. Credit Risk Currently, the Company primarily manufactures and sells cellular processing systems and thermodynamic devices principally to the blood and cellular component processing industry and performs ongoing evaluations of the credit worthiness of the Company's customers. The Company believes that adequate provisions for uncollectible accounts have been made in the accompanying consolidated financial statements. To date, the Company has not Income Taxes The tax years 2000 2019 no no no The Company's estimates of income taxes and the significant items resulting in the recognition of deferred tax assets and liabilities reflect the Company's assessment of future tax consequences of transactions that have been reflected in the financial statements or tax returns for each taxing jurisdiction in which the Company operates. The Company bases the provision for income taxes on the Company's current period results of operations, changes in deferred income tax assets and liabilities, income tax rates, and changes in estimates of uncertain tax positions in the jurisdictions in which the Company operates. The Company recognizes deferred tax assets and liabilities when there are temporary differences between the financial reporting basis and tax basis of assets and liabilities and for the expected benefits of using net operating loss and tax credit loss carryforwards. The Company establishes valuation allowances when necessary to reduce the carrying amount of deferred income tax assets to the amounts that the Company believes are more likely than not one may Income tax consequences that arise in connection with a business combination include identifying the tax basis of assets and liabilities acquired and any contingencies associated with uncertain tax positions assumed or resulting from the business combination. Deferred tax assets and liabilities related to temporary differences of an acquired entity are recorded as of the date of the business combination and are based on the Company's estimate of the appropriate tax basis that will be accepted by the various taxing authorities and its determination as to whether any of the acquired deferred tax liabilities could be a source of taxable income to realize the Company's pre-existing deferred tax assets. Reclassifications Certain prior period amounts have been reclassified to conform to the current period presentation. The reclassifications did not Recently Adopted Accounting Standards In August 2018, 2018 13, Fair Value Measurement ( Topic 820 ): Disclosure Framework-Changes to the Disclosure Requirements for Fair Value Measurement January 1, 2020 not Recently Issued Accounting Standards In August 2020, 2020 06 Debt-Debt with Conversion and Other Options ( Subtopic 470 20 ) and Derivatives and Hedging Contracts in Entity s Own Equity ( Subtopic 815 40 ): Accounting for Convertible Instruments and Contracts in an Entity s Own Equity, 1 2 3 may January 1, 2022 January 1, 2021. In December 2019, 2019 12 Income Taxes (Topic 740 2019 12 740 December 15, 2020, not In June 2016, ASU 2016 13, Topic 326 ). 2016 13 December 15, 2022, |