v3.26.3
Disaggregation of Revenue
3 Months Ended
Mar. 31, 2025
Disaggregation of Revenue  
Disaggregation of Revenue

Note 3.Disaggregation of Revenue

Disaggregation of revenue

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

For the Three Months Ended

March 31,

  ​ ​ ​

2025

  ​ ​ ​

2024

Major products/service lines

 

Licensing fees - royalty revenue

$

52,800

$

73,500

Total Revenue

$

52,800

$

73,500

Timing of revenue recognition

Products transferred at a point in time

$

$

Products and services transferred over time

52,800

73,500

$

52,800

$

73,500

Contract balances

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

  ​ ​ ​

March 31,

  ​ ​ ​

December 31, 

2025

2024

Assets

 

 

  ​

Trade receivables - net

$

41,300

$

36,000

Liabilities

 

Contracted liabilities - long term

$

396,000

$

400,500

  ​ ​ ​

March 31,

  ​ ​ ​

December 31,

2025

2024

Contract liabilities

Opening

$

400,500

$

418,500

Additions

 

Transfer to revenue

(4,500)

 

(18,000)

Ending

$

396,000

$

400,500

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.