Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2021

Summary of Significant Accounting Policies [Abstract]

Inventory Stated at Cost, Net of Reserve

Inventory stated at cost, net of reserve, consisted of the following as of December 31:

	2021		2020
Materials	$	111,531		61,270
Work in progress		12,795		49,650
Finished goods		83,944		20,458
Inventory, net	$	208,270		131,378

Other Assets

The Company has research tax credits that are available to the Company to offset future payroll withholding liabilities.  As of December 31, 2021 and 2020, the total amount of these credits is $766,571 and $707,290, respectively.   The Company has included these amounts on the accompanying balance sheets as follows as of December 31:

	2021		2020
Other current assets	$	184,638		163,829
Other long-term assets		581,933		543,461
Research tax credits available to the Company	$	766,571		707,290

Estimated Useful Lives of Assets

Depreciation and amortization are computed using the straight‑line method over estimated useful lives of assets as follows:

Leasehold improvements	Shorter of lease term(s) or useful life
Office equipment	5 years
Furniture and fixtures	7 years
Machinery and equipment	5 to 7 years

Intangible Assets

Intangible assets consist of the following as of December 31:

	2021			2020
Cost	$	1,668,951			1,668,951
Accumulated amortization		(1,643,858	)		(1,603,882	)
Net book value	$	25,093			65,069

Accrued Expenses

Accrued expenses consisted of the following as of December 31:

	2021		2020
Clinical trial costs	$	301,730		289,180
Compensation costs		98,272		796,864
Franchise taxes		103,020		—
Other		100,765		31,557
Accrued expenses	$	603,787		1,117,601

Clinical Holdback Liability

The following table shows the activity within the clinical holdback liability accounts for the year ended December 31, 2021:

Balance at December 31, 2020	$	164,972
Clinical holdback retained		15,503
Clinical holdback paid		(11,737	)
Balance at December 31, 2021	$	168,738
Less: clinical holdback - current portion		(18,947	)
Clinical holdback - long-term portion	$	149,791

The following table shows the activity within the clinical holdback liability accounts for the year ended December 31, 2020:

Balance at December 31, 2019	$	145,768
Clinical holdback retained		19,630
Clinical holdback paid		(426	)
Balance at December 31, 2020	$	164,972
Less: clinical holdback - current portion		—
Clinical holdback - long-term portion	$	164,972

Sales by Geographic Region

The following table summarizes our FemVue sales by geographic region for the years ending December 31:

Primary geographical markets	2021		2020
U.S.	$	1,005,612		900,751
International		174,077		137,167
Total	$	1,179,689		1,037,918