Organization And Summary Of Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2019

Organization And Summary Of Significant Accounting Policies

Schedule of Components of Accounts Receivable, net

The following table summarizes the components of Accounts Receivable, net:

	December 31,				December 31,
	2019				2018
Trade Accounts Receivables at year end		$	276,551			$	429,405
Reserve for estimated marketing allowances, cash discounts and other incentives			(263,092	)			(364,894	)
Total Accounts Receivable, net		$	13,459			$	64,511

Schedule of Changes in Reserve Included in Net Accounts Receivable

The following table summarizes the changes in the Company’s reserve for marketing allowances, cash discounts and other incentives which is included in net accounts receivable:

	December 31,			December 31,
	2019			2018
Balance at beginning of the year	$	(364,894	)	$	(194,061	)
Accrued allowances		( 89,666	)		( 191,468	)
Reversal of prior year accrued allowances		-			1,749
Expenditures		191,468			18,886
Balance at year-end	$	(263,092	)	$	(364,894	)

Schedule of Useful Lives, Depreciation of Property and Equipment

Useful Life		December 31, 2019			December 31, 2018
Computer equipment and software	3-7 years	$	53,819		$	51,195
Machinery and equipment	3-7 years		157,267			170,567
Furniture and fixtures	3-7 years		6,828			6,828
Less: Accumulated depreciation			(152,265	)		(152,870	)
Property and Equipment, Net		$	65,649		$	75,720

Schedule of Basic Weighted Average Shares Outstanding is Reconciled to Diluted

Basic weighted average shares outstanding is reconciled to diluted weighted shares outstanding as follows:

	Year Ended December  31, 2019	Year Ended December 31, 2018
Basic weighted average shares outstanding	46,863,467	47,046,364
Dilutive options	-	-
Diluted weighted average shares outstanding	46,863,467	47,046,364

Schedule of Net Revenue by Major Source

The following table disaggregates net revenue by major source:

	For the Year Ended December 31, 2019									For the Year Ended December 31, 2018
	Capstone Brand			License Brands			Total Consolidated			Capstone Brand			License Brands			Total Consolidated
Lighting Products- U.S.		$	11,218,714		$	-		$	11,218,714		$	4,732,927		$	6,827,308		$	11,560,235
Lighting Products-International			1,185,731			-			1,185,731			639,130			630,959			1,270,089
Total Revenue		$	12,404,445		$	-		$	12,404,445		$	5,372,057		$	7,458,267		$	12,830,324

Schedule of Changes in Product Warranty Liabilities Included in Accounts Payable and Accrued Liabilities

The following table summarizes the changes in the Company’s product warranty liabilities which are included in accounts payable and accrued liabilities in the accompanying December 31, 2019 and 2018 balance sheets:

	December 31,			December 31,
	2019			2018
Balance at the beginning of the year	$	212,495		$	328,279
Amount accrued		180,797			59,981
Amount expensed		(145,442	)		(175,765	)
Balance at year-end	$	247,850		$	212,495

Schedule of Components of Accounts Payable and Accrued Liabilities

The following table summarizes the components of accounts payable and accrued liabilities at December 31, 2019 and 2018, respectively:

	December 31,		December 31,
	2019		2018
Accounts payable	$	273,606	$	221,568
Accrued warranty reserve		247,850		212,495
Accrued compensation, benefits, marketing allowances and other expenses		114,137		27,383
Total accrued liabilities		361,987		239,878
Total	$	635,593	$	461,446