SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2021

Accounting Policies [Abstract]

Property, Plant and Equipment

Assets are being depreciated over estimated useful lives of three to 10 years using the straight-line method, as presented in the table below, commencing when the asset is placed in service. Leasehold improvements are depreciated over the shorter of the remainder of the lease term or the life of the improvements. Upon retirement or disposal, the cost of the asset disposed of and the related accumulated depreciation are removed from the accounts and any gain or loss is reflected in income. Expenditures for repairs and maintenance are expensed as incurred.

	Useful Lives
	in Years
Manufacturing machinery and equipment	5 - 10
Furniture, fixtures, computer hardware/software	3 - 7
Leasehold improvements	life of lease

Future Amortization of Patents

As of December 31, 2021, future amortization of patents is expected as follows:

2022	$	19,169
2023		19,168
2024		6,493
2025		185
2026		-
	$	45,015

Deferred Revenue

Deferred revenue was as follows:

Balance as of January 1, 2020	$	-
Additions		307,500
Recognized as revenue		-
Balance as of December 31, 2020		307,500
Additions		22,500
Recognized as revenue		(307,500	)
Balance as of December 31, 2021	$	22,500