Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 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 consolidated balance sheets that sum to the total of the same amounts shown in the consolidated statements of cash flows:

	December 31, 2021		December 31, 2020
Cash and cash equivalents	$	36,080,392	$	13,360,463
Restricted cash		551,794		746,792
Total cash and cash equivalents and restricted cash in the consolidated statements of cash flows	$	36,632,186	$	14,107,255

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:

	December 31,
	2021		2020
Raw materials and supplies	$	866,963	$	773,021
Work-in-process		100,801		87,159
Finished goods		3,744,029		2,312,148
Total	$	4,711,793	$	3,172,328

Schedule of Property and equipment

Property and equipment is stated at cost and depreciated on a straight-line basis over the estimated useful lives of the related assets. The estimated service lives range from three to ten years. Depreciation expense was $1,541,561 and $1,152,954 for the years ended December 31, 2021 and 2020, respectively. Property and equipment consisted of the following at December 31, 2021 and 2020:

	December 31,
	2021			2020
Laboratory and manufacturing equipment	$	4,613,324		$	6,317,340
Office furniture and equipment		810,574			1,259,838
Computers and network equipment		491,183			1,692,154
Leasehold improvements		1,634,692			752,493
		7,549,773			10,021,825
Less accumulated depreciation		(3,538,025	)		(6,762,338	)
Property and equipment, net	$	4,011,748		$	3,259,487

Schedule of Finite-Lived and Indefinite-Lived Intangible Assets

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

					December 31, 2021							December 31, 2020
	Subsidiary		Cost		Accumulated Amortization and Prior Year Impairment			Effect of Foreign Exchange Rates		Net Balance		Accumulated Amortization			Impairment			Effect of Foreign Exchange Rates		Net Balance
Trademarks and tradenames		AdvanDx	$	461,000	$	(461,000	)	$	—	$	—	$	(217,413	)	$	(243,587	)	$	—	$	—
Developed technology		AdvanDx		458,000		(458,000	)		—		—		(308,526	)		(149,474	)		—		—
Customer relationships		AdvanDx		1,094,000		(1,094,000	)		—		—		(736,465	)		(357,535	)		—		—
Trademarks and tradenames		Curetis		1,768,000		(316,930	)		43,015		1,494,085		(147,161	)		—			194,119		1,814,958
Distributor relationships		Curetis		2,362,000		(282,277	)		57,465		2,137,188		(131,070	)		—			259,336		2,490,266
A50 - Developed technology		Curetis		349,000		(89,384	)		8,492		268,108		(41,504	)		—			38,319		345,815
Ares - Developed technology		Curetis		5,333,000		(682,833	)		129,745		4,779,912		(317,060	)		—			585,536		5,601,476
A30 - In-Process Research & Development		Curetis		5,706,000		—			144,916		5,850,916		—			—			622,448		6,328,448
			$	17,531,000	$	(3,384,424	)	$	383,633	$	14,530,209	$	(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 $813,184 and $672,823 for the years ended December 31, 2021 and 2020, respectively. Expected future amortization of intangible assets is as follows:

Year Ending December 31,
2022	$	783,669
2023		783,669
2024		783,669
2025		783,669
2026		783,669
Thereafter		4,760,948
Total	$	8,679,293

Schedule of Changes in Carrying Amount of Goodwill

The changes in the carrying amount of goodwill as of December 31, 2021, and since December 31, 2019, were as follows:

Balance as of December 31, 2019	$	600,814
Acquisition of Curetis		6,688,652
Changes in currency translation		735,263
Balance as of December 31, 2020		8,024,729
Changes in currency translation		(571,722	)
Balance as of December 31, 2021	$	7,453,007