v3.26.3
Disaggregation of Revenue
6 Months Ended
Jun. 30, 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:

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For the Three Months

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For the Six Months

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Ended June 30,

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Ended June 30,

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2025

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2024

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2025

  ​ ​ ​

2024

Major products/service lines

 

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​

​

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​

​

​

​

​

​

Licensing fees - royalty revenue

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$

52,800

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$

73,500

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$

105,600

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$

147,000

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​

​

​

​

​

​

​

​

​

​

​

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Total Revenue

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$

52,800

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$

73,500

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$

105,600

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$

147,000

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​

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Timing of revenue recognition

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Products transferred at a point in time

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$

—

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$

—

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$

—

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$

—

Products and services transferred over time

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​

52,800

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73,500

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​

105,600

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​

147,000

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$

52,800

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$

73,500

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$

105,600

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$

147,000

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Contract balances

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

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June 30, 2025

  ​ ​

December 31, 2024

Assets

 

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Trade receivables - net

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$

58,100

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$

36,000

Contracted liabilities - long term

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$

391,500

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$

400,500

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​

​

​

​

​

​

​

​

  ​ ​

June 30, 2025

  ​ ​

December 31, 2024

Contract liabilities

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​

​

​

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Opening

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$

400,500

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$

418,500

Additions

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​

—

​

 

—

Transfer to revenue

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​

(9,000)

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(18,000)

Ending

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$

391,500

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$

400,500

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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.