v3.26.1
Disaggregation of Revenue
12 Months Ended
Dec. 31, 2024
Disaggregation of Revenue  
Disaggregation of Revenue

Note 3.  Disaggregation of Revenue

In the following table, revenue is disaggregated by major products/service lines, and timing of revenue recognition:

For the Years Ended

December 31, 

  ​ ​ ​

2024

  ​ ​ ​

2023

Major products/service lines

  ​ ​ ​

Licensing fees - royalty revenue

$

279,000

$

350,000

Initiation fees

$

Total Revenue

$

279,000

$

350,000

Timing of revenue recognition

Products transferred at a point in time

$

$

Products and services transferred over time

279,000

350,000

$

279,000

$

350,000

Contract balances

The following table provides information about receivables, assets, and liabilities from contracts with customers:

  ​ ​ ​

December 31, 

  ​ ​ ​

December 31, 

2024

2023

Assets

 

  ​

 

  ​

Trade receivables, net

$

36,000

$

63,000

Liabilities

 

  ​

 

  ​

Contracted liabilities

$

$

Contracted liabilities - long term

$

400,500

$

418,500

  ​ ​ ​

December 31, 

  ​ ​ ​

December 31, 

2024

2023

Contract liabilities

Opening

$

418,500

$

447,500

Additions

 

 

Transfer to revenue

 

(18,000)

 

(29,000)

Ending

$

400,500

$

418,500

Contract receivables are recorded at the invoiced amount and do not bear interest. Credit is extended based on the evaluation of a customer’s financial condition and collateral is not required.

The contract liabilities primarily relate to amounts billed in advance of performance obligations being satisfied are booked as deferred revenue.