Annual report pursuant to Section 13 and 15(d)

UNEARNED REVENUE

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UNEARNED REVENUE
12 Months Ended
Dec. 31, 2023
Revenue Recognition and Deferred Revenue [Abstract]  
UNEARNED REVENUE

Note 7. UNEARNED REVENUE

 

The Company engaged in an observational study of CyPath® Lung with the DOD. 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 25 units as of December 31, 2023. The performance obligation is deemed complete after samples have been collected and processed and results analyzed. The unearned revenue balance amounted to $33,058 and $0 as of December 31, 2023, and 2022, respectively.