Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.2
Summary of Significant Accounting Policies (Tables)
 9 Months Ended
Sep. 30, 2020
Accounting Policies [Abstract]  
Schedule of Disaggregation of Revenue

The Company’s licensing business is not material and has not been separately disaggregated for segment purposes. The disaggregated Company’s revenues for the three and nine months ended September 30, 2019 and 2018 were as follows:

 

    For the Three Months
Ended September 30,		     For the Nine Months
Ended September 30,		  
    2020     2019     2020     2019  
Revenues:                                
Product sales   $ 4,137,254     $ 3,499,116     $ 14,593,266     $ 14,982,117  
Service     800       19,442       800       67,753  
Licensing     113,093       14,087       204,217       189,564  
Total revenues, net   $ 4,251,147     $ 3,532,645     $ 14,798,283     $ 15,239,434  
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

For the three and nine months ended September 30, 2020 and 2019, the following customer represented more than 10% of total net revenues:

 

    For the Three Months
Ended September 30,		     For the Nine Months
Ended September 30,		  
    2020     2019     2020     2019  
Customer:                        
Customer A     * %     11 %     * %     22 %
                                 

 

* Customer did not represent greater than 10% of total net revenue.

 

For the three and nine months ended September 30, 2020 and 2019, the following geographical regions represented more than 10% of total net revenues:

 

    For the Three Months
Ended September 30,		     For the Nine Months
Ended September 30,		  
    2020     2019     2020     2019  
Region:                                
North America     79 %     86 %     89 %     78 %
Europe     17  %     *       10 %     15 %

 

* Region did not represent greater than 10% of total net revenue.
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

As of September 30, 2020, the Company excluded the common stock equivalents summarized below, which entitle the holders thereof to ultimately acquire shares of common stock, from its calculation of earnings per share, as their effect would have been anti-dilutive.

 

    September 30, 2020     September 30, 2019  
Selling Agent Warrants     160,492       89,992  
Shares reserved in exchange for the cancellation of certain non-voting membership interest in Edison Nation Holdings, LLC     -       990,000  
Options     80,000       290,000  
Convertible shares under notes payable     558,803       285,632  
Warrants for noteholders     625,000       -  
Restricted stock units     120,000       -  
Shares to be issued     165,000       -  
Total     1,709,295       1,655,624