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Sales Incentives
12 Months Ended
Dec. 31, 2017
Other Liabilities Disclosure [Abstract]  
Sales Incentives

10.

Sales Incentives


On September 7, 2017, the Company entered into an exclusive distribution agreement for the worldwide rights to sell its product in the oil and gas industry effective September 7, 2017. An incentive program will be used to compensate the distributor for the difference between the price of product currently being charged by PFTI offered to the distributor for the oil and gas industry and the applicable distributor price currently available. The incentive, in the form of credits toward future product, is redeemable only if targeted quarterly goals are achieved.  If the goals are not achieved the credits will be carried forward and are redeemable when the quarterly goals are achieved. As of December 31, 2017, the Company recorded a credit toward future product of $99,128.


Targeted quarterly goals, if achieved, represent an aggregate of approximately $4 million in sales revenue between August 1, 2017 and June 30, 2018. Sales under the agreement amount to $558,141 for the period from August 1, 2017 to December 31, 2017.