Quarterly report pursuant to Section 13 or 15(d)

Summary of Significant Accounting Policies (Tables)

v3.20.2
Summary of Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2020
Accounting Policies [Abstract]  
Schedule of Concentration of Risk of Accounts Receivable

As of June 30, 2020, the following customer represented more than 10% of total accounts receivable:

 

    June 30, 2020  
Customer:        
Customer A     14 %

Schedule of Disaggregation of Revenue

The disaggregated Company’s revenues for the three and six months ended June 30, 2020 and 2019 was as follows:

 

   

For the Three Months

Ended June 30,

   

For the Six Months

Ended June 30,

 
    2020     2019     2020     2019  
Revenues:                                
Product sales   $ 6,829,111     $ 5,845,651     $ 10,456,012     $ 11,483,001  
Service     -       22,714       -       48,311  
Licensing     50,915       99,890       91,124       175,477  
Total revenues, net   $ 6,880,026     $ 5,968,255     $ 10,547,136     $ 11,706,789  

Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas

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

 

   

For the Three Months

Ended June 30,

   

For the Six Months

Ended June 30,

 
    2020     2019     2020     2019  
Customer:                                
Customer A     * %     27 %     * %     25 %
Customer B     11     *       *       *  
Customer C     11 %     *       *       *  

 

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

 

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

 

   

For the Three Months

Ended June 30,

   

For the Six Months

Ended June 30,

 
    2020     2019     2020     2019  
Region:                                
North America          98 %     73 %     93 %     75 %
Europe     *       18 %     *       18 %

 

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

Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share

As of June 30, 2020 and 2019, the Company excluded the common stock equivalents summarized below, which entitled 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.

 

    June 30, 2020     June 30, 2019  
Selling Agent Warrants     160,492       65,626  
Shares reserved in exchange for the cancellation of certain non-voting membership interest in Edison Nation Holdings, LLC     990,000       990,000  
Options     80,000       290,000  
Convertible shares under notes payable     999,536       285,632  
Warrants for noteholders     750,000          
Restricted stock units     270,000       -  
Shares to be issued     46,500       20,000  
Total     3,296,528       1,651,258