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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
9 Months Ended
Sep. 30, 2024
Accounting Policies [Abstract]  
SCHEDULE OF COMPUTATION OF DILUTED NET LOSS PER SHARE

The following table summarizes the shares of common stock that were potentially issuable but were excluded from the computation of diluted net loss per share for the three and nine months ended September 30, 2024 and 2023 as such shares would have had an anti-dilutive effect:

 

   2024   2023 
   As of September 30, 
   2024   2023 
Stock options (a)   31,013    95,873 
Warrants (b)   16,725    16,725 
Unvested restricted stock   224,392    159,557 

 

  (a) Shares underlying stock options assumed pursuant to the merger agreement with Precision Healing, Inc. (“Precision Healing”) in April 2022.
  (b) Shares underlying warrants assumed pursuant to the merger agreement with Precision Healing in April 2022.
SCHEDULE OF REVENUE FROM PRODUCT SALES AND ROYALTIES

Revenue streams from product sales and royalties are summarized below for the three and nine months ended September 30, 2024 and 2023.

 

   2024   2023   2024   2023 
   Three Months Ended   Nine Months Ended 
   September 30,   September 30, 
   2024   2023   2024   2023 
Soft tissue repair products  $18,863,335   $13,634,316   $52,586,945   $39,756,539 
Bone fusion products   2,808,264    2,340,382    7,779,209    7,392,740 
Royalty revenue   -    50,250    906    150,750 
Total Net Revenue  $21,671,599   $16,024,948   $60,367,060   $47,300,029 
SCHEDULE OF PROPERTY AND EQUIPMENT

 

   Useful  September 30,   December 31, 
   Life  2024   2023 
Computers  3-5 years  $235,388   $194,788 
Office equipment  3-7 years   216,491    201,785 
Furniture and fixtures  5-10 years   346,508    304,338 
Leasehold improvements  2-5 years   170,370    134,170 
Internal use software  5 years   1,618,999    1,618,999 
              
Property and equipment, gross      2,587,756    2,454,080 
Less accumulated depreciation      (1,591,986)   (1,196,124)
              
Property and equipment, net     $995,770   $1,257,956 
SCHEDULE OF CHANGES IN FAIR VALUE FOR CONTINGENT EARNOUT CONSIDERATION

 

      
Balance at December 31, 2023  $3,823,001 
Change in fair value of earnout liabilities   67,549
Revaluation of earnout liability   22,000 
Balance at September 30, 2024  $3,912,550