Summary of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2022

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:

	2022		2021
Materials	$	244,498		111,531
Work in progress		100,453		12,795
Finished goods		91,772		83,944
Inventory, net	$	436,723		208,270

Other Assets

The Company has research tax credits that are available to the Company to offset future payroll withholding liabilities.  As of December 31, 2022 and 2021, the total amount of these credits is $891,062 and $766,571, respectively.   The Company has included these amounts on the accompanying balance sheets as follows as of December 31:

	2022		2021
Other current assets	$	212,134		184,638
Other long-term assets		678,928		581,933
Research tax credits available to the Company	$	891,062		766,571

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:

	2022			2021
Cost	$	1,668,951			1,668,951
Accumulated amortization		(1,665,657	)		(1,643,858	)
Net book value	$	3,294			25,093

Accrued Expenses

Accrued expenses consisted of the following as of December 31:

	2022		2021
Clinical trial costs	$	333,440		301,730
Compensation costs		85,191		98,272
Franchise taxes		26,886		103,020
Other		11,197		100,765
Accrued expenses	$	456,714		603,787

Clinical Holdback Liability

The following table shows the activity within the clinical holdback liability accounts for the year ended December 31, 2022:

Balance at December 31, 2021	$	168,738
Clinical holdback retained		21,456
Clinical holdback paid		(48,330	)
Balance at December 31, 2022	$	141,864
Less: clinical holdback - current portion		(45,206	)
Clinical holdback - long-term portion	$	96,658

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

Sales by Geographic Region

The following table summarizes the Company’s sales, primarily from FemVue, by geographic region for the years ending December 31:

Primary geographical markets	2022		2021
U.S.	$	1,090,359		1,005,612
International		115,859		174,077
Total	$	1,206,218		1,179,689