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Revenue Recognition (Tables)
12 Months Ended
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]  
Schedule of Disaggregation of Revenue
The details are listed in the table below for the years ended December 31, 2019 and 2018:




 
 
Years ended December 31,
 
 
2019
 
2018
 
 
Products and Licensing
Technology Development
Total
 
Products and Licensing
Technology Development
Total
Total Revenue by Geographic Location
 
 
 
 
 
 
United States
$
21,782,692

$
26,024,674

$
47,807,366

 
$
11,585,296

$
20,967,556

$
32,552,852

 
Asia
13,669,304


13,669,304

 
5,977,563


5,977,563

 
Europe
7,277,234


7,277,234

 
3,873,161


3,873,161

 
Canada, Central and South America
1,432,082


1,432,082

 
382,797


382,797

 
All Others
329,729


329,729

 
130,872


130,872

 
Total
$
44,491,041

$
26,024,674

$
70,515,715

 
$
21,949,689

$
20,967,556

$
42,917,245

 
 
 
 

 
 
 
 
 
 
 
 

 
 
 
 
Total Revenue by Major Customer Type

 
 
 
 
 
Sales to the U.S. government
$
2,601,069

$
25,377,961

$
27,979,030

 
$
1,834,289

$
20,703,338

$
22,537,627

 
U.S. direct commercial sales and other
19,181,625

646,713

19,828,338

 
9,737,720

264,218

10,001,938

 
Foreign commercial sales & other
22,708,347


22,708,347

 
10,377,680


10,377,680

 
Total
$
44,491,041

$
26,024,674

$
70,515,715

 
$
21,949,689

$
20,967,556

$
42,917,245

 
 
 
 

 
 
 
 
 
 
 
 

 
 
 
 
Total Revenue by Contract Type

 
 
 
 
 
Fixed-price contracts
$
44,491,041

$
14,111,092

$
58,602,133

 
$
21,949,689

$
9,388,770

$
31,338,459

 
Cost-type contracts

11,913,582

11,913,582

 

11,578,786

11,578,786

 
  Total
$
44,491,041

$
26,024,674

$
70,515,715

 
$
21,949,689

$
20,967,556

$
42,917,245

 
 
 
 

 
 
 
 
 
 
 
 

 
 
 
 
Total Revenue by Timing of Recognition

 
 
 
 
 
Goods transferred at a point in time
$
43,129,361

$

$
43,129,361

 
$
21,330,000

$

$
21,330,000

 
Goods/services transferred over time
1,361,680

26,024,674

27,386,354

 
619,689

20,967,556

21,587,245

 
Total
$
44,491,041

$
26,024,674

$
70,515,715

 
$
21,949,689

$
20,967,556

$
42,917,245

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Total Revenue by Major Products/Services
 
 
 
 
 
 
Technology development
$

$
26,024,674

$
26,024,674

 
$

$
20,967,556

$
20,967,556

 
Test, measurement and sensing systems
41,787,613


41,787,613

 
19,641,434


19,641,434

 
Other
2,703,428


2,703,428

 
2,308,255


2,308,255

 
Total
$
44,491,041

$
26,024,674

$
70,515,715

 
$
21,949,689

$
20,967,556

$
42,917,245


Schedule of Components of Contract Balances
The following table shows the components of our contract balances as of December 31, 2019 and 2018:

 
December 31,
 
2019
 
2018
Contract assets
$
3,208,206

 
$
2,759,315

Contract liabilities
(3,887,685
)
 
(2,486,111
)
   Net contract assets
$
(679,479
)
 
$
273,204