Accrued Expenses

3 Months Ended

Mar. 31, 2022

Accrued Expenses

Accrued Expenses

Note 8 – Accrued Expenses

Accrued expenses consisted of the following:

	March 31,		December 31,
	2022		2021
Accrued Wages and Related Costs	$	484,980	$	683,044
Accrued Professional Services		318,231		551,220
Accrued Warranty Obligations		156,192		185,044
Other Accrued Expenses		167,618		—
Total	$	1,127,021	$	1,419,308

The Company has warranty obligations in connection with the sale of certain of its products. The warranty period for its products is generally twelve (12) months. The costs incurred to provide for these warranty obligations are estimated and recorded as an accrued expense at the time of sale. The Company estimates its future warranty costs based upon product-based historical performance rates and related costs to repair.

The changes in the Company’s accrued warranty obligations for the three months ended March 31, 2022 and the balance as of December 31, 2021 were as follows:

Accrued Warranty Obligations at December 31, 2021	$	185,044
Reductions for Settling Warranties		(103,943)
Warranties Issued During Year		75,091
Accrued Warranty Obligations at March 31, 2022	$	156,192