Note B - Liquidity and Uncertainties

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Substantial Doubt about Going Concern [Text Block]

NOTE B-  LIQUIDITY AND UNCERTAINTIES

The Company has evaluated whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within

one

year after the date that the consolidated financial statements are issued.

In

April

and

June

of

2020,

the Company completed

two

Common Stock Offerings generating net proceeds of approximately

$4.6

 million and

$13.4

million, respectively. As of

December  

31,

2020,

cash on hand was approximately

$14.2

 million, an increase of

$12.7

 million from

December 31, 2019.

With the combination of these

two

Common Stock Offerings, the Company has sufficient liquidity to support operations beyond

one

year from the  consolidated financial statement filing date.

The coronavirus (COVID-

19

) that was reported to have surfaced in Wuhan, China in

December 2019

and that has now spread to other countries throughout the world has  adversely impact our operations and those of our

third

-party partners.  As a result of the reduced hours and closings of dental offices throughout the country and the rest of the world, revenues for the

12 months ended

December 31, 2020

were adversely affected.

Although there was an increase in dental instrument and disposable sell  through to dentists beginning in the

third

quarter of

2020,

it is  too early to determine  what  the continuing effect COVID-

19

may

have on the Company. In addition, it is uncertain as to what the effect will be on our commercialization effort of our CompuFlo Epidural and CathCheck system as a medical device. Such future developments could have a material adverse effect on our financial results and our ability to conduct business as expected. See Note N- Concentrations