Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2021

Schedule of Reconciliation of Cash, Cash Equivalents and Restricted Cash

The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the condensed consolidated balance sheets that sum to the total of the same amounts shown in the condensed consolidated statements of cash flows:

	September 30, 2021		December 31, 2020		September 30, 2020		December 31, 2019
Cash and cash equivalents	$	25,352,337	$	13,360,463	$	10,488,072	$	2,708,223
Restricted cash		549,730		746,792		293,972		185,380
Total cash and cash equivalents and restricted cash in the condensed consolidated statements of cash flows	$	25,902,067	$	14,107,255	$	10,782,044	$	2,893,603

Schedule of Inventories

Inventories are valued using the first-in, first-out method and stated at the lower of cost or net realizable value and consist of the following:

	September 30, 2021		December 31, 2020
Raw materials and supplies	$	850,402	$	773,021
Work-in-process		58,217		87,159
Finished goods		3,423,285		2,312,148
Total	$	4,331,904	$	3,172,328

Schedule of Finite-Lived Intangible Assets

Intangible assets include trademarks, developed technology, In-Process Research & Development, software and customer relationships and consisted of the following as of September 30, 2021 and December 31, 2020:

				September 30, 2021							December 31, 2020
	Subsidiary	Cost		Accumulated Amortization			Effect of Foreign Exchange Rates		Net Balance		Accumulated Amortization			Impairment			Effect of Foreign Exchange Rates		Net Balance
Trademarks and tradenames	AdvanDx	$	461,000	$	—		$	—	$	—	$	(217,413	)	$	(243,587	)	$	—	$	—
Developed technology	AdvanDx		458,000		—			—		—		(308,526	)		(149,474	)		—		—
Customer relationships	AdvanDx		1,094,000		—			—		—		(736,465	)		(357,535	)		—		—
Trademarks and tradenames	Curetis		1,768,000		(277,723	)		83,469		1,573,746		(147,161	)		—			194,119		1,814,958
Distributor relationships	Curetis		2,362,000		(247,356	)		111,511		2,226,155		(131,070	)		—			259,336		2,490,266
A50 - Developed technology	Curetis		349,000		(78,326	)		16,477		287,151		(41,504	)		—			38,319		345,815
Ares - Developed technology	Curetis		5,333,000		(598,360	)		251,772		4,986,412		(317,060	)		—			585,536		5,601,476
A30 - In-Process Research & Development	Curetis		5,706,000		—			270,923		5,976,923		—			—			622,448		6,328,448
		$	17,531,000	$	(1,201,765	)	$	734,152	$	15,050,387	$	(1,899,199	)	$	(750,596	)	$	1,699,758	$	16,580,963

Schedule of Estimated Useful Lives of Identifiable Intangible Assets

Identifiable intangible assets will be amortized on a straight-line basis over their estimated useful lives. The estimated useful lives of the intangibles are:

	Estimated Useful Life
Trademarks and tradenames	10 years
Customer/distributor relationships	15 years
A50 – Developed technology	7 years
Ares – Developed technology	14 years
A30 – Acquired in-process research & development	Indefinite

Schedule of Expected Amortization of Intangible Assets

Total amortization expense of intangible assets was $212,829 and $205,026 for the three months ended September 30, 2021 and 2020, respectively. Total amortization expense of intangible assets was $615,471 and $464,689 for the nine months ended September 30, 2021 and 2020, respectively. Expected future amortization of intangible assets is as follows:

Year Ending December 31,
2021 (Three months)	$	200,294
2022		801,174
2023		801,174
2024		801,174
2025		801,174
2026		801,174
Thereafter		4,867,300
Total	$	9,073,464

Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill as of September 30, 2021, and since December 31, 2020, were as follows:

Balance as of December 31, 2020	$	8,024,729
Changes in currency translation		(418,658	)
Balance as of September 30, 2021	$	7,606,071