UNEARNED REVENUE |
12 Months Ended |
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Dec. 31, 2025 | |
| Revenue Recognition and Deferred Revenue [Abstract] | |
| UNEARNED REVENUE |
Note 7. UNEARNED REVENUE
The Company engaged in an observational study of CyPath® Lung with the Department of War. A total of 70 CyPath® Lung units were ordered and shipped. However, in compliance with FASB ASC 606, the performance obligation was complete for only 41 units as of December 31, 2025. The performance obligation is deemed complete after samples have been collected and processed and results analyzed. The unearned revenue balance amounted to $23,827 and $24,404 as of December 31, 2025 and 2024, respectively.
During August 2025, the Company engaged with Veterans Administration (“VA”) medical centers to purchase CyPath® Lung tests. A total of 30 tests were ordered and shipped. However, in compliance with FASB ASC 606, the performance obligation was complete for only eight tests as of December 31, 2025. The performance obligation is deemed complete after samples have been collected, processed, and analyzed and results communicated to patients. The unearned revenue balance amounted to $18,578 as of December 31, 2025.
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- Definition The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
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- References No definition available.
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