CRVW Careview Communications Inc (QB)

CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

 

 

The accompanying footnotes are an integral part of these condensed consolidated financial statements.

 

 

CAREVIEW COMMUNICATIONS INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE three and nine months ended September 30, 2024 and 2023
(Unaudited)

 

 

The accompanying footnotes are an integral part of these condensed consolidated financial statements.

 

 

CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ DEFICIT
FOR THE three and nine months ended September 30, 2024 and 2023
(Unaudited)

 

 

The accompanying footnotes are an integral part of these condensed consolidated financial statements.

 

 

CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE nine months ended September 30, 2024 and 2023

(Unaudited)

 

 

The accompanying footnotes are an integral part of these condensed consolidated financial statements.

 

 

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

NOTE 1 – BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS

 

Interim Financial Statements

 

The accompanying unaudited interim condensed consolidated financial statements of CareView Communications, Inc. (“CareView”, the “Company”, “we”, “us” or “our”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with GAAP and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The balance sheet at December 31, 2023 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the SEC on March 29, 2024.

 

Revenue Recognition

 

We recognize revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606 (“ASC 606”). For our subscription service contracts, we have employed the practical expedient discussed in ASC 606-10-55-18 related to invoicing as we have the right to consideration from our customers in the amount that corresponds directly with the value to the customer of our performance completed to date and therefore, we recognize revenue upon invoicing as further discussed below.

 

In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which we expect to be entitled to receive in exchange for these goods or services. The provisions of ASC 606 include a five-step process by which we determine revenue recognition, depicting the transfer of goods or services to customers in amounts reflecting the payment to which we expect to be entitled in exchange for those goods or services. ASC 606 requires us to apply the following steps: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, we satisfy the performance obligation. For those customers for which we are required to collect sales taxes, we record such sales taxes on a net basis which has no effect on the amount of revenue or expenses recognized as the sales taxes are a flow through to the taxing authority.

 

We enter into contracts with customers that may provide multiple combinations of our products, software solutions, and other related services, which are generally capable of being distinct and accounted for as separate performance obligations. Performance obligations that are not distinct at contract inception are combined.

 

Customer contract fulfillment typically involves multiple procurement promises, which may include various equipment, software subscription, project-related installation and training services, and support. We allocate the transaction price to each performance obligation based on estimated relative standalone selling price. Revenue is then recognized for each performance obligation upon transferring control of the hardware, software, and services to the customer and in an amount that reflects the consideration we expect to receive and the estimated benefit the customer receives over the term of the contract.

 

Generally, we recognize revenue under each of our performance obligations as follows:

 

●

Subscription services – We recognize subscription revenues monthly over the contracted license period.

●

Equipment packages – We recognize equipment revenues when control of the devices has been transferred to the client (“point in time”).

●

Software bundle and related services related to sales-based contracts – We recognize our software subscription, installation, training, and other services on a straight-line basis over the estimated contracted license period (“over time”).

 

The Company earns sales-based contract revenue from services rendered under specific agreements, which hinge on a third-party reseller who possesses the exclusive authority to engage directly with veteran-owned hospitals. Evaluating the Company’s role in these contracts necessitates assessing whether it functions as the principal or agent, a determination that involves analyzing the extent of control the Company wields over the contracts.

 

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CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

Following its assessment, the Company reports revenue from services provided under such contracts on a gross basis. This decision is justified by the Company’s primary responsibility to fulfill the contractual obligations, including delivery and installation of equipment and software, training, and its control over other services within the contract period. Furthermore, the Company directly sets the contract price with its customers based on the services outlined in the statement of work. As the Company is responsible for fulling this promise and maintains control, the Company is acting as the principal.

 

Disaggregation of Revenue 

 

The following presents net revenues disaggregated by our business models:

 

		Nine Months Ended
		September 30,
		2024				2023
Sales-based contract revenue
Equipment package, net (point in time)		$	816,935			$	2,872,911
Software bundle (over time)			2,275,409				1,635,324
Total sales-based contract revenue			3,092,344				4,508,235
Subscription-based lease revenue			3,016,915				3,409,523
Net revenue		$	6,109,259			$	7,917,758

 

Contract Liabilities

 

Our subscription-based contracts payment arrangements are required to be paid monthly which are recognized into revenue when received. Some customers choose to pay their subscription fee in advance. Customer payments received in advance of satisfaction of the related performance obligations are deferred as contract liabilities. These amounts are recorded as “deferred revenue” in our condensed consolidated balance sheets and recognized into revenues over time.

 

Our sales-based contract payment arrangements with our customers typically include an initial equipment payment due upon signing of the contract and subsequent payments when certain performance obligations are completed. Customer payments received in advance of satisfaction of related performance obligations are deferred as contract liabilities. These amounts are recorded as “deferred revenue” in our condensed consolidated balance sheets and recognized into revenues as either a point in time or over time.

 

During the nine months ended September 30, 2024 and 2023, a total of $0 and $21,145, respectively, of subscription-based deferred contract liability was recognized as revenue. The table below details the subscription-based contract liability activity during the nine months ended September 30, 2024 and 2023

 

		Nine Months Ended
		September 30,
		2024				2023
Balance, beginning of period		$	—			$	21,145
Additions			—				—
Transfer to revenue			—				(21,145	)
Balance, end of period		$	—			$	—

 

During the nine months ended September 30, 2024 and 2023, a total of $2,145,534 and $1,331,409, respectively, of sales-based deferred contract liability was recognized as revenue. The table below details the sales-based contract liability activity during the nine months ended September 30, 2024 and 2023.

 

		Nine Months Ended
		September 30,
		2024				2023
Balance, beginning of period		$	1,922,925			$	869,485
Additions			3,199,357				1,807,630
Transfer to revenue			(2,145,534	)			(1,331,409	)
Balance, end of period		$	2,976,748			$	1,345,706

 

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CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

As of September 30, 2024, the aggregate amount of deferred revenue from subscription-based contracts and sales-based contracts allocated to performance obligations that are unsatisfied or partially satisfied is $2,976,748 and will be recognized into revenue over time as follows:

 

Years Ending December 31,		Amount
2024		$	963,044
2025			1,813,087
Thereafter			200,617
		$	2,976,748

 

We defer and capitalize all costs associated with the installation of the CareView System into a healthcare facility until the CareView System is fully operational and accepted by the healthcare facility. Installation costs are specifically identifiable based on the amounts we are charged from third party installers or directly identifiable labor hours incurred for each installation. Upon acceptance, the associated costs are expensed on a straight-line basis over the life of the contract with the healthcare facility. These costs are included in network operations on the accompanying consolidated statements of operations.

 

The table below details the activity in these deferred installation costs during the periods ended September 30, 2024 and 2023, included in other assets in the accompanying unaudited consolidated balance sheet.

 

		Nine Months Ended
		September 30,
		2024				2023
Balance, beginning of period		$	48,309			$	33,461
Additions			64,457				—
Transfer to expense			(16,126	)			(21,783	)
Balance, end of period		$	96,640			$	11,678

 

Significant Judgements When Applying Topic 606

 

Contracts with our customers are typically structured similarly and include various combinations of our products, software solutions, and related services. Determining whether the various contract promises are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment.

 

Contract transaction price is allocated to distinct performance obligations using estimated standalone selling price. We determine standalone selling price maximizing observable inputs such as standalone sales, competitor standalone sales, or substantive renewal prices charged to customers when they exist. In instances where standalone selling price is not observable, we utilize an estimate of standalone selling price. Such estimates are derived from various methods that include cost plus margin, and historical pricing practices. Judgment may be required to determine standalone selling prices for each performance obligation and whether it depicts the amount we expect to receive in exchange for the related good or service.

 

Contract modifications occur when we and our customers agree to modify existing customer contracts to change the scope or price (or both) of the contract or when a customer terminates some, or all, of the existing services provided by us. When a contract modification occurs, it requires us to exercise judgment to determine if the modification should be accounted for as a separate contract, the termination of the original contract and creation of a new contract, a cumulative catch-up adjustment to the original contract, or a combination.

 

Contracts with our customers include a limited warranty on our products covering materials, workmanship, or design for the duration of the contract. We do not offer paid additional extended or lifetime warranty packages. We determined the limited warranty in our contract is not a distinct performance obligation. We do not believe our estimates of warranty costs to be significant to our determination of revenue recognition, and therefore, did not reserve for warranty costs.

 

Leases

 

The Company has an operating lease primarily consisting of office space with a remaining lease term of 11 months. At the lease commencement date, an operating lease liability and related operating lease asset are recognized. The operating lease liabilities are calculated using the present value of lease payments. The discount rate used is either the rate implicit in the lease, when known, or our estimated incremental borrowing rate. Operating lease assets are valued based on the initial operating lease liabilities plus any prepaid rent and direct costs from executing the leases.

 

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CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

Earnings (Loss) Per Share

 

We calculate earnings per share (“EPS”) in accordance with GAAP, which requires the computation and disclosure of two EPS amounts, basic and diluted. Basic EPS is computed based on the weighted average number of common shares outstanding during the period. Diluted EPS is computed based on the weighted average number of common shares outstanding plus all potentially dilutive common shares outstanding during the period under the treasury stock method. Such potential dilutive common shares consist of stock options, warrants to purchase our Common Stock (the “Warrants”) and convertible debt. Potential common shares totaling 73,616,280 and 46,801,922 on September 30, 2024 and 2023, respectively, have been excluded from the diluted earnings per share calculation as they are anti-dilutive due to our reported net loss. The 73,616,280 potential common shares consist of 67,921,835 stock options and 5,694,445 warrants.

 

Accounting Standards Update (ASU)

 

ASU 2020-06 simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20, Debt: Debt with Conversion and Other Options, that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock. The guidance in ASC 470-20 applies to convertible instruments for which the embedded conversion features are not required to be bifurcated from the host contract and accounted for as derivatives. In addition, the amendments revise the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity, by removing certain criteria required for equity classification. These amendments are expected to result in more freestanding financial instruments qualifying for equity classification (and, therefore, not accounted for as derivatives), as well as fewer embedded features requiring separate accounting from the host contract. The amendments in ASU 2020-06 further revise the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share (EPS) for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. We as a smaller reporting company as defined by the SEC have adopted ASU 2020-06 effective for fiscal year 2024. As of 2024, the Company does not have any preferred stock or convertible debt.

 

ASU 2022-03 clarifies that a “contractual sale restriction prohibiting the sale of an equity security is a characteristic of the reporting entity holding the equity security” and is not included in the equity security’s unit of account. Accordingly, an entity should not consider the contractual sale restriction when measuring the equity security’s fair value (i.e., the entity should not apply a discount related to the contractual sale restriction, as stated in ASC 820-10-35-36B as amended by the ASU). In addition, the ASU prohibits an entity from recognizing a contractual sale restriction as a separate unit of account. Under the existing guidance in ASC 820-10-35-6B, “although a reporting entity must be able to access the market, the reporting entity does not need to be able to sell the particular asset or transfer the particular liability on the measurement date to be able to measure fair value on the basis of the price in that market.” ASU 2022-03 clarifies that an entity should apply this existing guidance when measuring the fair value of equity securities that are subject to contractual sale restrictions (i.e., a contractual sale restriction on the reporting entity that prevents the sale of an equity security in the market does not prevent the entity from measuring the fair value of the equity security on the basis of the price in that principal market). ASU 2022-03 for the Company is effective for fiscal year 2024. For 2024, no contractual sale restriction exists with the Company.

 

ASU 2023-09 requires public business entities to disclose percentages and amounts in their reporting currency for certain categories in a tabular format with qualitative disclosures on an annual basis. ASU 2023-09 requires the use of the following categories to assist investors with assessing risks and opportunities related to effective tax rates over time and for multiple entities:

 

State and local income tax, net of federal (national) income tax effect

Foreign tax effect

Effect of changes in tax laws or rates enacted in the current period

Effect of cross-border tax laws

Tax credits

Changes in valuation allowances

Nontaxable or nondeductible items

Changes in unrecognized tax benefits

 

The new reporting guidance is effective for the Company for annual periods beginning after December 15, 2024.

 

ASU 2023-07 states entities with a single reportable segment must apply all of the disclosure requirements of ASU 2023-07, as well as all existing segment disclosure and reconciliation requirements in ASC 280, on both an annual and an interim basis. The Company as an entity with a single reportable segment will present accordingly for the Form 10-K. 

 

ASU 2024-03 specifies more information about income statement expenses upon adoption of the new standard. Disaggregation of Income Statement Expenses (DISE), applies to all public business entities (PBEs) and is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The Company will adopt appropriately.

 

NOTE 2 – GOING CONCERN, LIQUIDITY AND MANAGEMENT’S PLAN

 

Accounting standards require management to evaluate our ability to continue as a going concern for a period of one year after the date of the filing of this Form 10-Q (“evaluation period”). In evaluating the Company’s ability to continue as a going concern, management considers the conditions and events that raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months after the Company issues its financial statements. For the nine months ended September 30, 2024, management considers the Company’s current financial condition and liquidity sources, including current funds available, forecasted future cash flows, and the Company’s conditional and unconditional obligations due within 12 months of the date these financial statements are issued.

 

The Company is subject to risks like those of healthcare technology companies whereby revenues are generated based on both sales-based and subscription-based models, which assume dependence on key individuals, uncertainty of product development, generation of revenues, positive cash flow, dependence on outside sources of capital, risks associated with research, development, and successful testing of its products, successful protection of intellectual property, ability to maintain and grow its customer base, and susceptibility to infringement on the proprietary rights of others. The Company’s net losses, cash outflows, and working capital deficit raise substantial doubt about the Company’s ability to continue as a going concern. The attainment of profitable operations is dependent on future events, including obtaining adequate financing to fulfill the Company’s growth and operating activities and generating a level of revenues adequate to support the Company’s cost structure. 

 

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CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

As of September 30, 2024, the Company had a working capital deficit of $40,269,985. The Company’s net losses, cash outflows, and working capital deficit raise substantial doubt about the Company’s ability to continue as a going concern. Management has evaluated the significance of the conditions described above in relation to the Company’s ability to meet its obligations and concluded that, without additional funding, the Company will not have sufficient funds to meet its obligations within one year from the date the consolidated financial statements were issued. While management will look to continue funding operations by increased sales volumes and raising additional capital from sources such as sales of its debt or equity securities or loans to meet operating cash requirements, there is no assurance that management’s plans will be successful. 

 

Management continues to monitor the immediate and future cash flows needs of the company in a variety of ways which include forecasted net cash flows from operations, capital expenditure control, new inventory orders, debt modifications, increases in sales outreach, streamlining and controlling general and administrative costs, competitive industry pricing, sale of equities, debt conversions, new product or services offerings, and new business partnerships.

 

The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. This basis of accounting contemplates the recovery of the Company’s assets and the satisfaction of liabilities in the normal course of business. A successful transition to attaining profitable operations is dependent upon achieving a level of positive cash flows adequate to support the Company’s cost structure.

 

NOTE 3 – STOCKHOLDERS’ EQUITY

 

Warrants to Purchase Common Stock of the Company

 

We use the Black-Scholes-Merton option pricing model (“Black-Scholes Model”) to determine the fair value of Warrants. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the weighted average risk-free interest rate, and the weighted average term of the Warrant.

 

The risk-free interest rate assumption is based upon observed interest rates on zero coupon U.S. Treasury bonds whose maturity period is appropriate for the term of the Warrants and is calculated by using the average daily historical stock prices through the day preceding the grant date. Estimated volatility is a measure of the amount by which our stock price is expected to fluctuate each year during the expected life of the award. Our estimated volatility is an average of the historical volatility of our stock prices (and that of peer entities whose stock prices were publicly available) over a period equal to the expected life of the awards.

 

A summary of our Warrants activity and related information follows:

 

														Weighted
										Weighted				Average
		Number of				Range of				Average				Remaining
		Shares Under				Warrant Price				Exercise				Contractual
		Warrant				Per Share				Price				Life
Balance at December 31, 2023			5,694,445			0.011 -0.0303				$	0.024				2.6
Granted			—				—				—				—
Expired			—				—				—				—
Canceled			—				—				—				—
Balance at September 30, 2024			5,694,445			0.011 -0.0303				$	0.024				1.8

 

Options to Purchase Common Stock of the Company

 

During the nine months ended September 30, 2024, 30,282,858 options to purchase our Common Stock were granted having a fair value of $1,816,671 and exercise price of $0.06 per share.

 

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CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

A summary of our stock option activity and related information follows:

 

										Weighted
						Weighted				Average
		Number of				Average				Remaining				Aggregate
		Shares Under				Exercise				Contractual				Intrinsic
		Options				Price				Life				Value
Balance at December 31, 2023			38,483,977			$	0.09				5.2			$	314,925
Granted			30,282,858				0.06				9.4				—
Forfeited/Expired			(845,000	)			0.58				—				—
Exercised			—				—				—				—
Balance at September 30, 2024			67,921,835			$	0.07				6.7			$	314,925
Vested and Exercisable at September 30, 2024			36,863,977			$	0.08				4.5			$	314,925

 

Share-based compensation expense for Options charged to our operating results for the three and nine months ended September 30, 2024 and 2023 was $158,746 and $24,844 for the three-month period, and $370,441 and $141,900 for the nine-month period, respectively. The estimate of forfeitures is to be recorded at the time of grant and revised in subsequent periods if actual forfeitures differ from the estimates. We have not included an adjustment to our stock-based compensation expense based on the nominal amount of the historical forfeiture rate. We do, however, revise our stock-based compensation expense based on actual forfeitures during each reporting period.

 

At September 30, 2024, total unrecognized estimated compensation expense related to non-vested Options granted prior to that date was approximately $1,503,685, which is expected to be recognized over a weighted-average period of 2.4 years. No tax benefit was realized due to a continued pattern of operating losses.

 

NOTE 4 – OTHER CURRENT ASSETS

 

Other current assets consist of the following:

 

		September 30,				December 31,
		2024				2023
Prepaid insurance		$	235,975			$	180,267
Other prepaid expenses			40,217				62,843
Sales tax overpayment			91,981				91,981
TOTAL OTHER CURRENT ASSETS		$	368,173			$	335,091

 

NOTE 5 – INVENTORY

 

Inventory is valued at the lower of cost, determined on a first-in, first-out (FIFO), or net realizable value. Inventory items are analyzed to determine cost and net realizable value and appropriate valuation adjustments are then established.

 

Inventory consists of the following:

 

		September 30,				December 31,
		2024				2023
Equipment components		$	317,314			$	294,435
TOTAL INVENTORY		$	317,314			$	294,435

 

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CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

NOTE 6 – PROPERTY AND EQUIPMENT

 

Property and equipment consist of the following:

 

		September 30,				December 31,
		2024				2023
Network equipment		$	9,218,247			$	9,204,511
Office equipment			264,813				241,955
Vehicles			133,617				133,616
Test equipment			230,365				230,365
Furniture			92,097				92,097
Warehouse equipment			18,788				18,788
Leasehold improvements			5,121				5,121
			9,963,048				9,926,453
Less: accumulated depreciation			(9,772,075	)			(9,608,827	)
TOTAL PROPERTY AND EQUIPMENT, NET		$	190,973			$	317,626

 

Depreciation expense for the nine months ended September 30, 2024 and 2023 was $163,247 and $273,478, respectively.

 

NOTE 7 – INTANGIBLE AND OTHER ASSETS, NET

 

Intangible assets consist of the following:

 

		September 30, 2024
		Cost				Accumulated Amortization				Net
Patents and trademarks		$	895,789			$	500,960			$	394,829
Other intangible assets			33,298				19,519				13,779
TOTAL INTANGIBLE ASSETS		$	929,087			$	520,479			$	408,608

 

		December 31, 2023
		Cost				Accumulated Amortization				Net
Patents and trademarks		$	879,492			$	478,250			$	401,242
Other intangible assets			20,237				15,178				5,059
TOTAL INTANGIBLE ASSETS		$	899,729			$	493,428			$	406,301

 

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CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

Other assets consist of the following:

 

		September 30, 2024
		Cost				Accumulated Amortization				Net
Deferred installation costs		$	1,462,177			$	1,365,536			$	96,641
Deferred clinical training costs			1,920				338				1,582
Deferred sales commissions			606,780				492,526				114,254
Prepaid license fee			249,999				214,480				35,519
Security deposit			46,124				—				46,124
TOTAL OTHER ASSETS		$	2,367,000			$	2,072,880			$	294,120

 

		December 31, 2023
		Cost				Accumulated Amortization				Net
Deferred installation costs		$	1,397,720			$	1,349,410			$	48,310
Deferred clinical training costs			—				—				—
Deferred sales commissions			439,221				279,459				159,762
Prepaid license fee			249,999				202,185				47,814
Security deposit			46,124				—				46,124
TOTAL OTHER ASSETS		$	2,133,064			$	1,831,054			$	302,010

 

NOTE 8 – OTHER CURRENT LIABILITIES

 

Other current liabilities consist of the following:

 

		September 30,				December 31,
		2024				2023
Allowance for system removal			54,802				54,802
Accrued paid time off			131,766				164,566
Deferred officer compensation (1)			49,528				49,528
Other accrued liabilities			222,228				220,601
TOTAL OTHER CURRENT LIABILITIES		$	458,324			$	489,497

 

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(1)	Remaining salary payable for Steve Johnson, CEO, between February 15, 2018 and September 30, 2020.

 

NOTE 9 – AGREEMENT WITH PDL BIOPHARMA, INC.

 

On June 26, 2015, we entered into a Credit Agreement (as subsequently amended) with PDL BioPharma, Inc. (“PDL”), as administrative agent and lender (“the Lender”) (the “PDL Credit Agreement”). Under the PDL Credit Agreement the Lender made available to us up to $40 million in two tranches of $20 million each. Tranche One was funded on October 8, 2015 (the “Tranche One Loan”). Pursuant to the terms of the PDL Credit Agreement and having not met the Tranche Two Milestones by July 26, 2017, the Tranche Two funding was terminated in full.

 

On February 28, 2023, the Company, the Borrower, the Subsidiary Guarantor, the Lender and the Tranche Three Lenders entered into a Twenty-Eighth Amendment to Modification Agreement (the “Twenty-Eighth Modification Agreement Amendment”), pursuant to which the parties agreed to amend the Modification Agreement to provide that the dates on which the Lender may elect, in the Lender’s sole discretion, to terminate the Modification Period would be July 31, 2018 and March 31, 2023 (with each such date permitted to be extended by the Lender in its sole discretion); and that the Borrower’s (i) interest payments that would otherwise be due under the Credit Agreement on December 31, 2018, March 31, 2019, June 30, 2019, September 30, 2019, December 31, 2019, March 31, 2020, June 30, 2020, September 30, 2020 and October 7, 2020 and (ii) payments for principal and for any other Obligations then outstanding under the Tranche One Loan and the Tranche Three Loans that would otherwise be due under the Credit Agreement on October 7, 2020, would each be deferred until March 30, 2023 (the end of the extended Modification Period).

 

On March 31, 2023, the Company, the Borrower, the Subsidiary Guarantor, the Lender and the Tranche Three Lenders entered into a Twenty-Ninth Amendment to Modification Agreement (the “Twenty-Ninth Modification Agreement Amendment”), pursuant to which the parties agreed to amend the Modification Agreement to provide that the dates on which the Lender may elect, in the Lender’s sole discretion, to terminate the Modification Period would be July 31, 2018 and April 30, 2023 (with each such date permitted to be extended by the Lender in its sole discretion); and that the Borrower’s (i) interest payments that would otherwise be due under the Credit Agreement on December 31, 2018, March 31, 2019, June 30, 2019, September 30, 2019, December 31, 2019, March 31, 2020, June 30, 2020, September 30, 2020 and October 7, 2020 and (ii) payments for principal and for any other Obligations then outstanding under the Tranche One Loan and the Tranche Three Loans that would otherwise be due under the Credit Agreement on October 7, 2020, would each be deferred until April 30, 2023 (the end of the extended Modification Period). Under debt modification/troubled debt guidance, we determined that the first of the eight amendments had no cash flow impact, and therefore, had no impact on accounting. Amendments nine through ten qualified for modification accounting, while the final nineteen amendments qualified for troubled debt restructuring accounting. As appropriate, we expensed the legal costs paid to third parties. For the nine months ended September 30, 2024 and 2023, pursuant to the terms of the PDL Modification Agreement, as amended, $2,406,375 was recorded as interest expense on the accompanying unaudited condensed consolidated financial statements.

 

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NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

On April 29, 2023, the Company, the Borrower, the Subsidiary Guarantor, the Lender and the Tranche Three Lenders entered into a Thirtieth Amendment to Modification Agreement (the “Thirtieth Modification Agreement Amendment”), pursuant to which the parties agreed to amend the Modification Agreement to provide that the dates on which the Lender may elect, in the Lender’s sole discretion, to terminate the Modification Period would be July 31, 2018 and May 31, 2023 (with each such date permitted to be extended by the Lender in its sole discretion); and that the Borrower’s (i) interest payments that would otherwise be due under the Credit Agreement on December 31, 2018, March 31, 2019, June 30, 2019, September 30, 2019, December 31, 2019, March 31, 2020, June 30, 2020, September 30, 2020 and October 7, 2020 and (ii) payments for principal and for any other Obligations then outstanding under the Tranche One Loan and the Tranche Three Loans that would otherwise be due under the Credit Agreement on October 7, 2020, would each be deferred until May 31, 2023 (the end of the extended Modification Period).

 

On May 31, 2023 (the “Effective Date”), the Company, the Borrower, the Lender, Steven G. Johnson, President and Chief Executive Officer of the Company, and Dr. James R. Higgins, a director of the Company, entered into a Seventh Amendment to Credit Agreement (the “Seventh Credit Agreement Amendment”), pursuant to which the parties agreed to amend the Credit Agreement to, among other things, (i) provide that, after the Effective Date, all accrued but unpaid interest (including interest accrued but unpaid prior to the Effective Date and excluding interest payable on the Maturity Date, in connection with any prepayment, or in the event of an Event of Default, which interest will be payable in cash) accruing on Tranche One Loans and Tranche Three Loans will be paid-in-kind on each Interest Payment Date by being added to the aggregate principal balance of the respective loans in arrears on each Interest Payment Date; (ii) require certain mandatory prepayments of the loans by the Company, including (A) quarterly prepayments in the amount, if any, that the Company’s Excess Cash Flow exceeds $600,000, (B) monthly transfers to the Inventory Reserve Account in the amount, if any, the Company’s cash exceeds $1,200,000, (C) prepayment in the amount, if any, the Company’s Inventory Reserve Account exceeds $600,000, and (D) prepayment in the amount, if any, of 100% of the gross proceeds of any indebtedness incurred by the Company (other than permitted indebtedness); and (iii) extend the Maturity Date to  December 31, 2024.

 

On September 30, 2023 (the “Effective Date”), the Company, the Borrower, the Lender, Steven G. Johnson, President and Chief Executive Officer of the Company, and Dr. James R. Higgins, a director of the Company, entered into an Eighth Amendment to Credit Agreement (the “Eighth Credit Agreement Amendment”), pursuant to which the parties agreed to amend the Credit Agreement to modify certain texts originating within the Seventh Credit Agreement. Stricken texts include “all accrued but unpaid interest (including interest accrued but unpaid prior to the Effective Date and excluding interest payable on the Maturity Date, in connection with any prepayment, or in the event of an Event of Default, which interest will be payable in cash) accruing on Tranche One Loans and Tranche Three Loans will be paid-in-kind on each Interest Payment Date by being added to the aggregate principal balance of the respective loans in arrears on each Interest Payment Date.” Additional texts include Release of Claims, which “in consideration of the Lender’s and Agent’s agreements contained in this Amendment, each of Holdings, the Borrower and the Subsidiary Guarantor hereby releases and discharges the Lender and the Agent and their affiliates, subsidiaries, successors, assigns, directors, officers, employees, agents, consultants and attorneys (each, a “Released Person”) of and from any and all other claims, suits, actions, investigations, proceedings or demands, whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which Holdings, the Borrower or the Subsidiary Guarantor ever had or now has against the Agent, any Lender or any other Released Person which relates, directly or indirectly, to any acts or omissions of the Agent, any Lender or any other Released Person relating to the Credit Agreement or any other Loan Document on or prior to the date hereof.”

 

Accounting Treatment

 

In connection with the PDL Credit Agreement, as amended, we issued the PDL Warrant to the Lender. As of June 30, 2024, the Amended PDL Warrant has not been exercised.

 

Due to the PDL Eighth Credit Agreement Amendment, the calculations for the “interest paid-in-kind” and quarterly “prepayment(s)” were removed effective with the year ending on December 31, 2023. The Company concluded that the Company is encountering financial hardship and that a concession was not granted. As the Lender has not granted a concession, the guidance contained in ASC 470-50 Modification and Extinguishment was applied. Given the present value of the cash flows under the Eighth Credit Agreement Amendment differed by less than 10% from the present value of the remaining cash flows under the terms of the prior debt agreement, the debt was determined to be not substantially different which resulted in modification accounting. The Company did not have any debt issuance costs, only legal expenses.

 

NOTE 10 – AGREEMENT WITH HEALTHCOR

 

On April 21, 2011, we entered into a Note and Warrant Purchase Agreement (as subsequently amended) with HealthCor Partners Fund, LP (“HealthCor Partners”) and HealthCor Hybrid Offshore Master Fund, LP (“HealthCor Hybrid” and, together with HealthCor Partners, “HealthCor”) (the “HealthCor Purchase Agreement”). Pursuant to the terms of the HealthCor Purchase Agreement, we sold and issued Senior Secured Convertible Notes to HealthCor in the principal amount of $9,316,000 and $10,684,000, respectively (collectively the “2011 HealthCor Notes”). The 2011 HealthCor Notes have a maturity date of  April 20, 2021. We also issued Warrants to HealthCor for the purchase of an aggregate of up to 5,488,456 and 6,294,403 shares, respectively, of our Common Stock at an exercise price of $1.40 per share (collectively the “2011 HealthCor Warrants”). So long as no event of default has occurred, the outstanding principal balances of the 2011 HealthCor Notes accrue interest from April 21, 2011 through April 20, 2016 (the “First Five-Year Note Period”) at the rate of 12.5% per annum, compounding quarterly and shall be added to the outstanding principal balances of the 2011 HealthCor Notes on the last day of each calendar quarter. Interest accruing from April 21, 2016 through April 20, 2021 (the “Second Five Year Note Period”) at a rate of 10% per annum, compounding quarterly, may be paid quarterly in arrears in cash or, at our option, such interest may be added to the outstanding principal balances of the 2011 HealthCor Notes on the last day of each calendar quarter. For the period from April 21, 2016 through September 30, 2018 interest has been added to the outstanding principal balance. Pursuant to the terms of the Ninth Amendment, the accrual of interest has been suspended after September 30, 2018. From the date any event of default occurs, the interest rate, then applicable, shall be increased by five percent (5%) per annum. HealthCor has the right, upon an event of default, to declare due and payable any unpaid principal amount of the 2011 HealthCor Notes then outstanding, plus previously accrued but unpaid interest and charges, together with the interest then scheduled to accrue (calculated at the default rate described in the immediately preceding sentence) through the end of the First Five Year Note Period or the Second Five Year Note Period, as applicable. Subject to the terms of the Ninth Amendment as discussed below, HealthCor’s ability to convert any portion of the outstanding and unpaid accrued interest on and principal balances of the 2011 HealthCor Notes into fully paid and nonassessable shares of our Common Stock has been eliminated. The warrants issued with this Note were cancelled with the Ninth-Amendment dated July 10, 2018.

 

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CAREVIEW COMMUNICATIONS, INC. AND SUBSIDIARIES

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

On March 30, 2023, HealthCor noteholders owning an aggregate of $36,000,000 Replacement Notes, entered into a Replacement Note Conversion Agreement, wherein half, fifty percent, of the HealthCor Replacement Notes were converted into shares of the Company’s common stock at a conversion price of $0.10 per share, resulting in the issuance of an aggregate of 180,000,000 shares. The other related and non-related parties Replacement Notes of $8,200,000 were likewise converted into shares of the Company’s common stock at a conversion price of $0.10 per share, resulting in the issuance of a combined total aggregate of 262,000,000 shares (the “Conversion Shares”). The shares bear a lockup legend that expires December 31, 2023.

 

On May 24, 2023, HealthCor noteholders owning an aggregate of $18,000,000 Replacement Notes, presented Conversion Notices, pursuant to the terms of the Replacement Note, for the conversion of the Replacement Notes into 180,000,000 shares of the Company’s common stock at a conversion price of $0.10 per share. The shares bear a lockup legend that expires December 31, 2023.

 

Accounting Treatment 

 

When issuing debt or equity securities convertible into common stock at a discount to the fair value of the common stock at the date the debt or equity financing is committed, a company is required to record a beneficial conversion feature (“BCF”) charge. We had three separate issuances of equity securities convertible into common stock that qualify under this accounting treatment, (i) the 2011 HealthCor Notes, (ii) the 2012 HealthCor Notes and (iii) the 2014 HealthCor Notes. Because the conversion option and the 2011 HealthCor Warrants on the 2011 HealthCor Notes were originally classified as a liability when issued due to the down round provision and the removal of the provision requiring liability treatment, and subsequently reclassified to equity on December 31, 2011 when the 2011 HealthCor Notes were amended, only the accrued interest capitalized as payment in kind (’‘PIK’’) since reclassification qualifies under this accounting treatment. We recorded an aggregate of $0 and $0 in interest for the years ended December 31, 2023 and 2022, respectively, related to these transactions. For the years ended December 31, 2023, and 2022, we recorded $0 and $0, respectively, of PIK related to the notes included in the HealthCor Purchase Agreement. The face amount of the 2012 HealthCor Notes, 2014 HealthCor Notes, the Fifth Amendment Notes and the Eighth Amendment Notes and all accrued PIK interest also qualify for BCF treatment as discussed above. Under the accounting standards, we determined that the restructuring of the HealthCor notes, pursuant to the terms of the Ninth Amendment, resulted in a troubled debt restructuring. As the future cash flows were greater than the carrying amount of the debt at the date of the amendment, we accounted for the change prospectively using the new effective interest rate.

 

Warrants were issued with the Fourth, Fifth, Eighth, Ninth, and Allonge 3 Amendment Notes and the proceeds were allocated to the instruments based on relative fair value as the warrants did not contain any features requiring liability treatment and therefore were classified as equity. At each amendment date, the warrants were recorded as debt discount, as a reduction of the net carrying amount of the debt. The debt discounts are amortized into interest expense each period under the effective interest method. The value allocated to the Ninth Amendment Warrants was $378,000. The value allocated to the Allonge 3 Amendment Warrants was $420,000.

NOTE 11 – LEASE

 

Under ASC Topic 842, Leases (“ASC 842”), operating lease expense is generally recognized evenly over the term of the lease. The Company has an operating lease primarily consisting of office space with a remaining lease term of 11 months (Lease through  August 31, 2025). 

 

On March 4, 2020, we entered into the Fourth Amendment to Commercial Lease Agreement (the “Lease Extension”), wherein we extended the Lease through  August 31, 2025. The Lease Extension contains a renewal provision under which the Lease has been extended for an additional five-year period under the same terms and conditions of the original Lease Agreement.

 

The Company has further concluded that the Lease Extension has no effects on the classification of the Lease. Rent expense for the nine months ended September 30, 2024 and 2023 was $225,682 and $221,535, respectively.

 

Undiscounted Cash Flows

 

Future lease payments included in the measurement of operating lease liability on the condensed consolidated balance sheet as of September 30, 2024, for the following five fiscal years and thereafter as follows:

 

Quarter ending		Operating
September 30, 2024		Leases
Remaining 2024			56,084
2025			150,679
Total minimum lease payments		$	206,763
Less effects of discounting			(14,609	)
Present value of future minimum lease payments		$	192,154

 

NOTE 12 – SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events through November 14, 2024, the date of filing of this Form 10-Q.

 

 

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Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

General

 

The following discussion and analysis provide information which our management believes to be relevant to an assessment and understanding of our results of operations and financial condition. This discussion should be read together with our financial statements and the notes to the financial statements, which are included in this Quarterly Report on Form 10-Q (the “Report”). This information should also be read in conjunction with the information contained in our Form 10-K filed with the Securities and Exchange Commission (the “SEC”) on March 29, 2024. The reported results will not necessarily reflect future results of operations or financial condition.

 

Throughout this Quarterly Report on Form 10-Q (the “Report”), the terms “we,” “us,” “our,” “CareView,” or “Company” refers to CareView Communications, Inc., a Nevada corporation, and unless otherwise specified, includes our wholly owned subsidiaries, CareView Communications, Inc., a Texas corporation (“CareView-TX”) and CareView Operations, LLC, a Nevada limited liability company (“CareView Operations”) (collectively known as the “Company’s Subsidiaries”). 

 

We maintain a website at www.care-view.com and our Common Stock trades on the OTCQB under the symbol “CRVW.’’

 

Company Overview and Recent Developments

 

As a leader in turnkey patient video monitoring solutions, CareView is redefining the standard of patient safety in hospitals and healthcare facilities across the country. For over a decade, CareView has relentlessly pursued innovative ways to increase patient protection, providing next generation solutions that lower operational costs and foster a culture of safety among patients, staff, and hospital leadership. With installations in more than 150 hospitals, CareView has proven that its innovative technology is creating a culture of patient safety where patient falls have decreased by 80% and sitter costs reduced by more than 65%. Anchored by the CareView Patient Safety System® and CareView Patient Care System^TM, this modular, scalable solution delivers flexible configurations to fit any facility while significantly increasing patient safety, care, and operational savings. All configurations feature HD cameras, high-fidelity 2-way audio/video, LCD displays for the ultimate in capability, flexibility, and affordability.

 

SitterView® and TeleMedView™ allows hospital staff to use CareView’s high-quality video cameras with pan-tilt-zoom and 2-way video functionality to observe and communicate with patients remotely. With CareView, hospitals are safely monitoring more patients while providing a higher level of care by leveraging CareView’s patented technology, a portfolio that includes 40 patents. TeleMedView leverages the CareView Mobile Controller’s built-in monitor and can work with the CareView Portable Controller as well. Usage of SitterView and TeleMedView has increased in response to a growing demand for remote patient monitoring driven by increasing demands for care and staffing shortages in the healthcare industry.

 

The CareView Patient Safety System enables virtual nursing workflows for patient observation, companionship, care concierge, and administrative tasks can ease workloads and improve care delivery. Hybrid patient care, the combination of bedside and virtual care, allows hospitals to keep nurses working at the top of their licenses and creates flexible and scalable workforce options. CareView’s integrations with existing clinical workflow and patient engagement tools allow providers to access patient rooms virtually from within the EHR workflow. CareView then becomes the centralized hub for a patient-centric, interconnected virtual care system.

 

In October 2022, CareView received Innovative Technology Designation after the Innovative Technology Exchange in Dallas, Texas. Every year, healthcare experts serving on the member-led councils of Vizient, Inc., (“Vizient”), the nation’s largest healthcare performance improvement company, review select products and technologies for their potential to enhance clinical care, patient safety, healthcare worker safety or to improve business operations of healthcare organizations. Vizient’s diverse membership and customer base includes academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks, and non-acute health care providers, and represents more than $130 billion in annual purchase volume. Technology designations are awarded to previously contracted products to signal to healthcare providers the impact of these innovations on patient care and business models of healthcare organizations.

 

CareView Patient Safety System

 

Our CareView Patient Safety System provides innovative ways to increase patient protection, provides advanced solutions that lower operational costs, and helps hospitals foster a culture of safety among patients, staff, and hospital leadership. We understand the importance of providing high quality patient care in a safe environment and believe in partnering with hospitals to improve the quality of patient care and safety by providing a system that monitors continuously. We are committed to providing an affordable video monitoring tool to improve the practice of nursing, create a better work environment and make the patient’s hospital stay more satisfying. Our suite of products and services can simplify and streamline the task of preventing and managing patients’ falls, enhance patient safety, improve quality of care, and reduce costs. Our products and services can be used in all types of hospitals, nursing homes, adult living centers, and selected outpatient care facilities domestically and internationally.

 

The CareView Patient Safety System includes CareView’s SitterView, providing a clear picture of up to 40 patients at once, allowing staff to intervene and document patient risks more quickly. SitterView features intuitive decision support pathway, guiding staff alarm response and pan- tilt-zoom functionality, allowing staff to home in on areas of interest. CareView’s new Analytics Dashboard provides real-time metrics on utilization, compliance, and outcome data by day, week, month, and quarter. Outcomes are automatically compared to organizational goals to evaluate real-time ROI.

 

CareView’s next generation of in-room camera; the CareView Controller features an HD camera, high-fidelity 2-way audio, and an LCD display, harnessing increased performance to deliver the ultimate in capability, flexibility, and affordability for all types of hospitals. Building on top of CareView’s patented Virtual Bed Rails® and Virtual Chair Rails® predictive technology, the CareView Controller uses machine learning to differentiate between normal patient movements and behaviors of a patient at risk. This technology results in less false alarms, faster staff intervention, and a significant reduction in patient falls.

 

The CareView Controller is available in multiple configurations for permanent or temporary situations; the CareView Mobile, Portable, and Fixed Controller. For situations that demand that the camera come to the patient, the CareView Mobile Controller on wheels comes with an uninterrupted external power supply for situations where power may not be readily available and can operate on the facility’s wireless network. For monitoring patients within a general care unit, the CareView Portable Controller can be easily removed from mounts and moved where the workflow dictates, making this application perfect for general use. For high-risk patient rooms where behavior and self-harm may be a factor, or where a patient must be continuously monitored, the CareView Fixed Controller can be installed seamlessly in the ceiling tiles leaving no exposed wiring making it ligature resistant.

 

The CareView Patient Safety System can be easily configured to meet the individual privacy and security requirements of any hospital or nursing facility. CareView is compliant with the Health Insurance Portability and Accountability Act (“HIPAA”) and certified by HITRUST. Additional HIPAA-compliant features allow privacy options to be enabled at any time by the patient, nurse, or physician.

 

  CareView Patient Safety System Products and Services Agreement with Healthcare Facilities

 

CareView’s subscription-based model is offered to healthcare facilities through a Products and Services Agreement (the “P&S Agreement(s)”). During the term of the P&S Agreement, we provide continuous monitoring of the CareView Patient Safety System products and services deployed to a healthcare facility and maintain and service all equipment installed by us. Under the subscription-based model, terms of each P&S Agreement require the healthcare facility to pay us a monthly fee based on the number of selected, installed, and activated services. None of the services provided through the Primary Package are paid or reimbursed by any third-party provider including insurance companies, Medicare, or Medicaid. We also enter into corporate-wide agreements with healthcare companies (the “Master Agreement(s)”), wherein the healthcare companies enter into individual facility level agreements that are substantially like our P&S Agreements. 

 

Master Agreements and P&S Agreements are currently negotiated for a period of three years with a provision for automatic renewal. P&S Agreements specific to pilot programs (“P&S Pilot Agreements”) contain pricing terms substantially like P&S Agreements, are generally three or six-months in length and can be extended on a month-to-month basis as required. Regarding the subscription-based model, we own all rights, title, and interest in and to the equipment we install at each location and agree to maintain and repair it; although, we may charge for repairs or replacements due to damage or misuse. We are not responsible for maintaining data arising from use of the CareView Patient Safety System or for transmission errors, corruption or compromise of data carried over local or interchange telecommunication carriers. We grant each healthcare facility a limited, revocable, non-transferable, and nonexclusive license to use the software, network facilities, content, and documentation on and in the CareView Patient Safety System to the extent, and only to the extent, necessary to access, explore and otherwise use the CareView Patient Safety System in real time. Such non-exclusive license expires upon termination of the P&S Agreement. 

 

We use specific terminology to better define and track the staging and billing of the individual components of the CareView Patient Safety System. The CareView Patient Safety System includes three components which are separately billed; the CareView Controller (previously known as RCP), the CareView SitterView Monitor, and the CareView Application Server (each component referred to as a “unit”). The term “bed” refers to each healthcare facility bed as part of the overall potential volume that a healthcare facility represents. For example, if a healthcare facility has 200 beds, the aggregate of those beds is the overall potential volume of that healthcare facility. The term “bed” is often used interchangeably with “CareView Controller” as this component of the CareView Patient Safety System consistently resides within each room where the “bed” is located. On average, there are six SitterView Monitors for each 100 beds. The term “deployed” means that the units have been delivered to the healthcare facility but have not yet been installed at their respective locations within the facility. The term “installed” means that the units have been mounted and are operational. The term “billable” refers to the aggregate of all units on which we charge fees. Units become billable once they are installed and the required personnel have been trained in their use. Units are only deployed upon the execution of a P&S Agreement or P&S Pilot Agreement.

 

 CareView Patent Safety System Sales-Based Model

 

CareView’s sales-based model commenced with the introduction of our updated technology. CareView has also aligned its contracting model to meet the preferred acquisition model in the hospital industry. CareView now sells its proprietary equipment to facilities in lieu of lending the equipment as defined under the subscription-based model. In doing so, the facility is billed for the hardware on acceptance of the contract. After CareView’s equipment is delivered to the facility, CareView begins the process of installing and securely integrating the equipment and software. Upon completion of installation, training, and “go-live”; referring to all systems in full operation, CareView bills the facility for the installation, training, and an annual software license fee. CareView will continue to bill the facility an annual software license fee until the end of the contract. The shift to the sales-based model has an immediate impact on our operations resulting in greater cash flow within 30 days of contract signing.

 

CareView continues its dedication to provide service and support on a 24x7x365 basis for every customer under every contract.

 

CareView Connect

 

Our mission is to be the leading provider of resident monitoring products and services for the long-term care industry. We took what we learned in our medical facility business and applied it to developing a product to serve the long-term care market. With CareView Connect Quality of Life® System (“CareView Connect”), CareView has again positioned itself as a technology leader with its innovative suite of products specifically designed for all aspects of the long-term care market, including Nursing Care, Home Care, Assisted Living and Independent Living.

 

With this mission in mind, in the second quarter of 2018, the Company introduced a new sensor product with application in both the assisted living center market and the home health market. CareView Connect leverages both passive and active sensors to track the activities of daily life. CareView Connect provides peace of mind by using data from the resident’s activity, existing conditions, and environment to notify a caregiver of potential emergencies and identify the need for dignified support. CareView Connect consists of a small emergency assist button, two motion sensors, one sleep sensor, and one event sensor. Resident activity levels, medication administration, sleep patterns, and requests for assistance can all be monitored depending on which options are selected.

 

The skilled nursing home market consists of approximately 2,000,000 beds, which is double the size of the current hospital/healthcare facility bed market. The assisted living center market is even larger at approximately 3,000,000 beds. Our products flow naturally into the nursing home space as it is substantially the same setting as hospital rooms.

 

CareView Connect is a platform consisting of several products and applications targeted at improving the level of care and efficiency. CareView built a cohesive and tightly integrated solution that solves several problems that long-term care facilities face. We offer an array of wearable and stationary buttons that allow a resident to summon help either for an emergency or assistance, which can be anything from toileting help to assistance putting on their shoes. We offer a mobile app capable of delivering an alert to the caregiver and allows them to document information around that alert, how long before the alert was handled and, what was the cause of the alert, and if it was not acknowledged in a timely manner then the alert is escalated to another individual or group. This ensures that every alert is responded to in a timely manner and is verifiable.

 

Alert Management and Monitoring System

 

CareView Connect provides a suite of hardware and software that facilitates a data-driven solution for alert management and monitoring. CareView Connect’s solution provides additional context, including location of the resident, which improves response time by the staff. The alert system includes a documentation platform that allows the facility’s staff to classify the reason for alerts and provides metrics around response time. CareView Connect’s solution involves several passive sensors that monitor the resident.

 

 Caregiver Platform

 

The caregiver platform includes a “Leave of Absence” component, which allows the facility to document when the resident is outside of their room for a duration of time. This information is incorporated with known data from the workflows and sensors to improve awareness. The Caregiver Connect mobile application provides a convenient and intuitive interface to the CareView Connect platform. The caregiver can use the mobile app to capture important information and interface with critical workflows, such as acknowledging and documenting alert presses by the resident. CareView Connect also provides a product focused on capturing and measuring the mental state and pain experienced by the resident. “How are you feeling today?” provides a convenient way to capture information about the mental state of the resident using emojis. Similarly, “What is your pain today?” allows the staff to categorize and document pain. Connect Resident is a tablet application intended for the resident’s direct use. This product currently supports video conferencing with a remote caregiver, becoming a communications conduit for telehealth. Connect Resident also supports “How are you feeling today?”, which allows the resident to submit this information directly.

 

 Quality of Life Metrics

 

CareView developed its own algorithm for measuring quality of life based on “best of breed” research and leveraging the data collected by the platform. CareView Connect’s Quality of Life Metrics focuses on several categories, including Physical Activity, Bodily Pain, General Health, Vitality, Social Interaction, Mental Health, and Sleep Quality. Leveraging this data, the facility and their staff have improved visibility into the health and well-being of their residents. By applying machine learning and predictive analytics, subtle patterns and trends that may not otherwise be visible become actionable. The facility can use this information to present a more compassionate and capable level of care, differentiating the facility from their competition. The Quality-of-Life Metrics information can be made available to the family and loved ones, opening a new channel of remote awareness and care. Because the information is collected automatically, the family gains awareness on issues of which their loved ones may normally be unaware. The Connect Family mobile application allows family members to monitor their loved one and receive alerts and notifications based on their preferences.

 

 Pricing Structure and Revenue Streams

 

The CareView Connect suite of products and services offers multiple pricing models. We work with each facility on pricing to offer an affordable package based on the demographics of the residents of the facility. The pricing structure with each facility is negotiated separately. Typically, we offer the CareView Connect basic package at a price per monitored room with varying price structures based on number of sensors and number of residents in each facility.

 

Purchasing Agreement with Decisive Point Consulting Group, LLC

 

On February 2, 2021, we partnered with Decisive Point Consulting Group, a Department of Veterans Affairs Contractor Verification Enterprise (CVE) and a Verified Service-Disabled Veteran Owned Small Business (SDVOSB), to expand our reach within the VA hospitals and Community Living Centers space. Our partnership reflects our desire to collaborate with companies that share our vision of patient safety. We continue to use this partnership to contract with VA hospitals and their Community Living Centers (“CLC”).

 

Indefinite Delivery Indefinite Quality (IDIQ) Contract

 

On September 10, 2021, the Company entered an Indefinite Delivery Indefinite Quality (IDIQ) contract for Telecare Services with Shore Systems and Solutions, LLC (S3). The award provides S3 with a path to providing the CareView System to veterans and their families receiving care at the 1,293 Veterans Health Administration (“VHA”) facilities across the United States and Territories.

 

 

General Service Administration Multiple Award Schedule

 

Pursuant to the terms of the Company’s General Service Administration (“GSA”) Multiple Award Schedule contract (“MAS”), the MAS allows us to sell the CareView System at a negotiated rate to the approximate 169 United States Department of Veterans Affairs (“VA”) facilities with over 39,000 licensed beds and the approximate 42 DOD hospitals with over 2,600 licensed beds. The sales-based model was added to the MAS, which allows us to sell the proprietary hardware and license the software on an annualized basis. The MAS is one of the most widely accepted government contract vehicles available to agency procurement officers. GSA’s application process requires potential vendors to be recognized as highly credible and well established. CareView is the sole source provider. Our products and services represent an enormous opportunity to improve the health and safety of our Nation’s veterans.

 

Group Purchasing Agreement with HealthTrust Purchasing Group, LP

 

On December 14, 2016, the Company entered a Group Purchasing Agreement with HealthTrust Purchasing Group, L.P. (“HealthTrust”) (the “HealthTrust GPO Agreement”), the Nation’s only committed-model Group Purchasing Organization (“GPO”) headquartered in Nashville, Tennessee. HealthTrust serves approximately 1,600 acute care facilities and members in more than 26,000 other locations, including ambulatory surgery centers, physician practices, long-term care, and alternate care sites. The agreement was effective on January 1, 2017 and all CareView System components and modules are available for purchase by HealthTrust’s exclusive membership. HealthTrust members may order CareView’s products and services included in the agreement directly from CareView.

 

On October 1, 2018, the Company added CareView Connect to the HealthTrust GPO Agreement.

 

On November 1, 2020, the sales-based contract model was added to the HealthTrust GPO Agreement which allows us to sell the proprietary hardware and license the software on an annualized basis. On December 1, 2021, the HealthTrust GPO Agreement was renewed for another 3-year term. We continue to work with HealthTrust and their members to expand contracts.

 

Group Purchasing Agreement with Premier, Inc.

 

On June 8, 2022 the Company entered a Group Purchasing Agreement with Premier, Inc. (“Premier”), headquartered in Charlotte, N.C. Premier is a leading healthcare improvement company, uniting an alliance of more than 4,400 U.S. hospitals and health systems and approximately 225,000 other providers and organizations to transform healthcare. The agreement was effective on June 15, 2022 and all Gen 5 CareView System components and modules are available for purchase by Premier’s exclusive membership. Premier members may order CareView’s products and services included in the agreement directly from CareView. We are continuing to work with Premier on new contracts.

 

Group Purchasing Agreement with Vizient

 

On February 15, 2023 the Company entered a Group Purchasing Agreement with Vizient, headquartered in Irving, TX. Vizient, the nation’s largest health care performance improvement company, has a diverse membership and customer base, including academic medical centers, pediatric facilities, community hospitals, integrated health delivery networks, and non-acute health care providers, and represents more than $130 billion in annual purchasing volume. The multi-year agreement allows Vizient members the opportunity to benefit from pre-negotiated pricing for CareView products. The agreement was effective on February 15, 2023 and all Gen 5 CareView System components and modules are available for purchase by Vizients’s exclusive membership. Vizient members may order CareView’s products and services included in the agreement directly from CareView. We are continuing to work with Vizient on new contracts.

 

Group Purchasing Agreement with Panda Health

 

On January 1, 2024, the Company entered an agreement with Panda Health, a platform and marketplace connecting digital health and other information technology suppliers with Members and various services, relating to digital health solutions. Panda Health transforms how health systems connect with, explore, and adopt leading digital health technologies. Panda Health minimizes risk associated with digital health decisions, with processes and insights that are backed by thousands of data points, hundreds of solution evaluations, deep market intelligence, and an unmatched team of digital health advisors. The agreement was effective January 1, 2024 and is for a three-year term. 

 

Summary of Product and Service Usage

 

Our contracts typically include multiple combinations of our products, software solutions, and related services with multiple payment options. Customers can continue to lease our equipment under our subscription model or can purchase our equipment upfront under our sales-based contract model with an auto-renewal at the end of each contract period. The new sales-based contract offers our customers the flexibility of capitalizing on their investment, which in turn, replenishes our cash reserves. For the years ended December 31, 2023, and 2022, the Company executed sales-based contracts in approximate aggregated amounts of $8,223,000 and $4,309,000.

 

 

Results of Operations

 

Three months ended September 30, 2024, compared to three months ended September 30, 2023

 

		Three months ended
		September 30,
		2024				2023				Change
		(000 ’s)
Revenue		$	1,932			$	2,425			$	(493	)
Operating expenses			2,616				2,469				147
Operating income			(684	)			(44	)			(640	)
Other, net			(786	)			(826	)			40
Net loss		$	(1,470	)		$	(870	)		$	(600	)

 

Revenue

 

Revenue decreased approximately $493,000 for the three months ended September 30, 2024, as compared to the same period in 2023. The decrease was attributable to no new customer equipment sales in the third quarter.

 

Operating Expenses

 

Our principal operating costs include the following items as a percentage of total operating expenses.

 

		Three months ended
		September 30,
		2024				2023
Human resource costs, including benefits and non-cash compensation			72	%			54	%
Professional and consulting costs			4	%			8	%
Depreciation and amortization			2	%			4	%
Other product deployment costs, excluding human resources and travel and entertainment costs			4	%			9	%
Travel and entertainment expense			2	%			2	%
Other expenses			16	%			23	%

 

Operating expenses increased by a net 6% because of the following items:

 

		(000’s)
Human resource costs, including benefits and non-cash compensation		$	545
Depreciation and amortization			(28	)
Other product deployment costs, excluding human resources and travel and entertainment expense			(137	)
Professional and consulting costs			(89	)
Travel and entertainment expense			3
Other expenses			(147	)
		$	147

 

Human resource related costs (including salaries and benefits and non-cash compensation) increased approximately $545,000 due to higher payroll with more employees, 2024 stock option awards, and sales commissions during the three months ended September 30, 2024 as compared to the three months ended September 30, 2023. Product deployment costs decreased approximately $137,000 due to decrease in cost of sales of hardware and associated installation, training and go-live. Professional and consulting costs decreased approximately $89,000 due to having employees vs. consultants.  Travel and entertainment costs increased approximately $3,000 due to increase cost of travel. For the comparable periods, other expenses decreased approximately $147,000, primarily as a result of advertising and marketing, R&D, business insurance and patent expenses.

 

 

Other, net

 

Other non-operating income and expense decreased by approximately $40,000, or 5%, for the three months ended September 30, 2024 in comparison to the same period in 2023, primarily because of no debt restructuring costs while earning higher interest with more cash in bank.

 

Net Loss

 

As a result of the factors above, our third quarter 2024 net loss of approximately $1,470,000, increased approximately $600,000, or 69%, as compared to approximately $870,000 net loss for the third quarter of 2023.

 

Nine months ended September 30, 2024, compared to nine months ended September 30, 2023

 

		Nine months ended
		September 30,
		2024				2023				Change
		(000’s)
Revenue		$	6,109			$	7,917			$	(1,808	)
Operating expenses			7,346				7,657				(311	)
Operating income			(1,237	)			260				(1,497	)
Other, net			(2,363	)			(2,521	)			158
Net loss		$	(3,600	)		$	(2,261	)		$	(1,339	)

 

Revenue

 

Revenue decreased approximately $1,808,000 for the nine months ended September 30, 2024, as compared to the same period in 2023. The decrease was attributable to only one new customer sale in the nine-month period.

 

Other, net increased approximately $158,000 for the nine months ended September 30, 2024, as compared to the same period in 2023. The increase was attributable to the no debt restructuring costs while earning higher interest with more cash in bank.

 

Operating Expenses

 

Our principal operating costs include the following items as a percentage of total operating expense.

 

		Nine months ended
		September 30,
		2024				2023
Human resource costs, including benefits and non-cash compensation			66	%			54	%
Professional and consulting costs			6	%			10	%
Depreciation and amortization			3	%			5	%
Other product deployment costs, excluding human resources and travel and entertainment costs			5	%			8	%
Travel and entertainment expense			3	%			3	%
Other expenses			17	%			21	%

 

Operating expenses decreased by a net 4% of approximately $311,000. The decrease was attributable to other expenses of approximately $389,000 less than comparable period from no debt-to-equity conversion costs, less advertising and marketing, renegotiated business insurance, less R&D and no Dell financing. The Professional and consulting costs of approximately $288,000 lower than the comparable period is attributed to not using Centri Business Consulting, Danielle Lewis Marketing Services and attorneys.  Additionally, lower depreciation and amortization and product deployment further netted out the increase in human resource related costs.

 

Net Loss

 

Year-To-date 2024 net loss of approximately $3,600,000 increased approximately $1,339,000 or 59%, as compared to approximately $2,261,000 net loss for the comparable nine months of 2023.

 

 

Liquidity and Capital Resources

 

Accounting standards require management to evaluate whether the Company can continue as a going concern for a period of one year after the date of the filing of this Form 10-Q (“evaluation period”). In evaluating the Company’s ability to continue as a going concern, management considers the conditions and events that raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months after the Company issues its financial statements. For the period ended September 30, 2024, management considers the Company’s current financial condition and liquidity sources, including current funds available, forecasted future cash flows, and the Company’s conditional and unconditional obligations due before November 13, 2025.

 

The Company is subject to risks like those of healthcare technology companies whereby revenues are generated based on both on a sales-based and subscription-based business model such as dependence on key individuals, uncertainty of product development, generation of revenues, positive cash flow, dependence on outside sources of capital, risks associated with research, development, and successful testing of its products, successful protection of intellectual property, ability to maintain and grow its customer base, and susceptibility to infringement on the proprietary rights of others. The attainment of profitable operations is dependent on future events, including obtaining adequate financing to fulfill the Company’s growth and operating activities and generating a level of revenues adequate to support the Company’s cost structure.

 

The Company has experienced net losses and significant cash outflows from cash used in operating activities over the past years. As of and for the three months ended September 30, 2024, the Company had an accumulated deficit of $211,485,106, loss from operations of $1,470,655, net cash provided by operating activities of $392,966, and an ending cash balance of $1,400,386.

 

As of September 30, 2024, the Company had a working capital deficit of $40,269,985 consisting primarily of PDL notes payables including accrued interest. Management has evaluated the significance of the conditions described above in relation to the Company’s ability to meet its obligations and concluded that, without additional funding, the Company will not have sufficient funds to meet its obligations within one year from the date the condensed consolidated financial statements were issued. While management will look to continue funding operations by increased sales volumes and raising additional capital from sources such as sales of its debt or equity securities or loans to meet operating cash requirements, there is no assurance that management’s plans will be successful. The Company’s net losses, cash outflows, and working capital deficit raise substantial doubt about the Company’s ability to continue as a going concern through November 13, 2025.

 

On March 8, 2022, we agreed with the HealthCor Parties to (i) amend the 2011 HealthCor Notes to extend the maturity date of the 2011 HealthCor Notes from April 20, 2022 to April 20, 2023 by entering into Allonge No. 4 to the 2011 HealthCor Notes (the “Third 2011 Note Allonges”) and (ii) amend the 2012 HealthCor Notes to extend the maturity date of the 2012 HealthCor Notes from April 20, 2022 to April 20, 2023 by entering into Allonge No. 4 to the 2012 HealthCor Notes (the “Fourth 2012 Note Allonges”) (such amendments to the 2011 HealthCor Notes and 2012 HealthCor Notes together, the “HealthCor Note Extensions”). In connection with the HealthCor Note Extensions, we issued the HealthCor parties warrants to purchase an aggregate of 3,000,000 shares of our Common Stock at an exercise price per share equal to $0.09 per share (subject to adjustment as described therein) and with an expiration date of March 08, 2032 (collectively the “2021 HealthCor Warrants”).

 

On December 30, 2022, the Company entered into a consent and agreement to cancel and exchange existing notes and issue replacement notes and cancel warrants (the “Cancellation Agreement”) with certain holders (the “Investors”) of senior secured convertible promissory notes (“Notes”) and warrants (“Warrants”) to purchase the Company’s common stock, that were issued pursuant to the Note and Warrant Purchase Agreement, dated as of April 21, 2011 (as amended, modified, or supplemented from time to time) (the “Purchase Agreement”). The Cancellation Agreement provided for the cancellation of all outstanding Notes and Warrants issued pursuant to the Purchase Agreement in exchange for the issuance of replacement senior secured convertible promissory notes (the “Replacement Notes”) with an aggregate principal amount of $44,200,000. The maturity date of the Replacement Notes was December 31, 2023. No interest accrues on the Replacement Notes. As of June 30, 2023, all replacement notes were converted into shares of the Company’s common stock at $0.10 per share.

 

On March 30, 2023, investors holding an aggregate of $26,200,000 of Replacement Notes exercised their right to convert the debt into shares of the Company’s common stock at $0.10 per share (the “First Tranche”). Upon conversion, the Company issued the investors in the First Tranche an aggregate of 262,000,000 shares. The First Tranche only converted 50% of the HealthCor Replacement Notes. Due to the insufficient number of the Company’s available authorized shares of common stock, a shareholder vote to authorize an increase in the Company’s authorized shares of common stock to 800,000,000 was approved on May 26, 2023.

 

Effective May 22, 2023, the Company’s increased its authorized shares of common stock from 500,000,000 shares to 800,000,000 shares.

 

 

On May 24, 2023, noteholders owning an aggregate of $18,000,000 Replacement Notes, provided the Company with a Conversion Notice, pursuant to the terms of the Replacement Notes, to convert the Replacement Notes into shares of the Company’s common stock at a conversion price of $0.10 per share, resulting in the issuance of an aggregate of 180,000,000 shares. 

 

Management continues to monitor the immediate and future cash flow needs of the Company in a variety of ways which include forecasted net cash flows from operations, capital expenditure control, new inventory orders, debt modifications, increases sales outreach, streamlining and controlling general and administrative costs, competitive industry pricing, sale of equities, debt conversions, new product or services offerings, and new business partnerships.

 

The accompanying condensed consolidated financial statements have been prepared assuming that the Company will continue as a going concern. This basis of accounting contemplates the recovery of the Company’s assets and the satisfaction of liabilities in the normal course of business. A successful transition to attaining profitable operations is dependent upon achieving a level of positive cash flows adequate to support the Company’s cost structure.

 

Critical Accounting Estimates

 

Please refer to our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Commission on March 29, 2024 and incorporated herein by reference, for detailed explanation of our critical accounting estimates, which have not changed significantly during the three and nine months ended September 30, 2024.

 

 

Recently Issued and Newly Adopted Accounting Pronouncements

 

We do not expect that the adoption of any recent accounting pronouncements will have a material impact on our accompanying condensed consolidated financial statements.

 

Recent Events

 

None.

 

Item 3. Quantitative and Qualitative Disclosures about Market Risk

 

None.

 

Item 4. Controls and Procedures

 

Disclosure Controls and Procedures

 

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), is recorded, processed, summarized, and reported within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is accumulated and communicated to management, including our chief executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.

 

 

Evaluation of Disclosure Controls and Procedures

 

Pursuant to Rule 13a-15(b) under the Securities Exchange Act of 1934 (“Exchange Act”), we carried out an evaluation, with the participation of our management, including Steve G. Johnson, our Chief Executive Officer (“CEO”) and principal executive officer, and Jason T. Thompson, our principal financial officer and chief accounting officer, of the effectiveness of our disclosure controls and procedures (as defined under Rule 13a-15(e) under the Exchange Act) as of the end of the period covered by this Report.

 

Under the supervision and with the participation of our CEO and principal financial and chief accounting officer, our management evaluated the effectiveness of the design and operation of our disclosure controls and procedures as of September 30, 2024. Based on that evaluation, our CEO and principal financial and chief accounting officer concluded that our disclosure controls and procedures were not effective as of September 30, 2024 due to the continuing existence of a material weakness in internal control over financial reporting described below (which we view as an integral part of our disclosure controls and procedures). Based on the performance of additional procedures designed to ensure the reliability of our financial reporting, we believe that the condensed consolidated financial statements included in this Report fairly present, in all material respects, our financial position, results of operations and cash flows as of the dates, and for the periods, presented, in conformity with accounting principles generally accepted in the United States (“GAAP”).

 

Material Weakness and Remediation Plan

 

A material weakness is a deficiency, or a combination of deficiencies, in internal controls over financial reporting, such that there is a reasonable possibility that a material misstatement of the Company’s annual or interim financial statements will not be prevented or detected on a timely basis. Management has determined that the Company did not maintain effective internal control over financial reporting as of the quarter ended September 30, 2024 due to the existence of the material weaknesses described below.

 

Management determined that the Company did not maintain effective internal control over financial reporting as of September 30, 2024, due to the existence of the following material weaknesses:

 

●

It was determined that the Company does not have effective controls over the identification and evaluation of the GAAP accounting for certain complex transactions in the areas of revenues, debt, and income taxes, due to a lack of technical expertise.

Based on additional procedures and post-closing review, Management concluded that the consolidated financial statements including this report present fairly, in all material respects, results of operations, and cash flows for the periods presented, in conformity with accounting principles accepted in the United States.

 

We began to take steps to address our material weaknesses, through our remediation plan. We implemented the following measures:

 

●

Identify and employ additional full-time highly qualified accounting personnel to join the corporate accounting function to enhance overall monitoring, maintain standard internal controls, and accounting oversight within the Company.

 

●

Implement enhanced documentation associated with management review controls and validation of the completeness and accuracy of financial reporting and key management financial reports.

 

●

Provide training of standard operating procedures and internal controls to key stakeholders within the supply chain, logistics, and inventory processes.

 

●

Enhance and automate existing internal control to ensure proper authorization, review, and recording of financial transactions.

 

●

On an as-needed basis, identify and engage certain third-party subject matter experts to assist with the preparation and reporting of complex business and accounting transactions.

 

Changes in Internal Control Over Financial Reporting

 

Other than as described above, there were no changes in our internal control over financial reporting identified in management’s evaluations pursuant to Rules 13a-15(d) or 15d-15(d) of the Exchange Act during the quarter ended September 30, 2024 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

Limitations on Controls

 

Our management can provide no assurance that our disclosure controls and procedures or our internal control over financial reporting can prevent all errors and all fraud under all circumstances. A control system, no matter how well conceived and operated, can provide only reasonable, not absolute, assurance that the objectives of the control system are met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Because of the inherent limitations in all control systems, no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within the Company have been or will be detected. The design of any system of controls also is based in part upon certain assumptions about the likelihood of future events, and there can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions; over time, controls may become inadequate because of changes in conditions, or the degree of compliance with policies or procedures may deteriorate. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected. 

 

 

PART II - OTHER INFORMATION

 

Item 1. Legal Proceedings.

 

None.

 

Item 1A. Risk Factors.

 

Our Company is a “smaller reporting company” as defined by Rule 12b-2 of the Exchange Act, and as such, is not required to provide the information required under this Item.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds.

 

None.

 

Item 3. Defaults Upon Senior Securities.

 

None.

 

Item 4. Mine Safety Disclosures.

 

Not applicable.

 

Item 5. Other Information.

 

None.

 

 

Item 6. Exhibits.

 

Exhibit No.	Date of Document	Name of Document
31.1	November 14, 2024	Certification of Chief Executive Officer of Periodic Report pursuant to Rule 13a-14a and Rule 14d-14(a)*
31.2	November 14, 2024	Certification of Chief Financial Officer of Periodic Report pursuant to Rule 13a-14a and Rule 15d-14(a)*
32	November 14, 2024	Certifications under Section 906*
101.SCH	n/a	Inline XBRL Taxonomy Extension Schema Document*
101.CAL	n/a	Inline XBRL Taxonomy Extension Calculation Linkbase Document*
101.DEF	n/a	Inline XBRL Taxonomy Extension Definition Linkbase Document*
101.LAB	n/a	Inline XBRL Taxonomy Extension Label Linkbase Document*
101.PRE	n/a	Inline XBRL Taxonomy Extension Presentation Linkbase Document*
104		Cover Page Interactive Data File (embedded within the Inline XBRL and contained in Exhibit 101)

 

*	Filed herewith.

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

DATE: November 14, 2024

 

	CAREVIEW COMMUNICATIONS, INC.
	By:	/s/ Steven G. Johnson
		Steven G. Johnson
		Chief Executive Officer
		Principal Executive Officer
	By:	/s/ Jason T. Thompson
		Jason T. Thompson
		Principal Financial Officer
		Chief Accounting Officer

 

CAREVIEW COMMUNICATIONS, INC. 10-Q

EXHIBIT 31.1

 

CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER
PURSUANT TO SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

 

I, Steven G. Johnson, certify that:

 

(1)

I have reviewed this quarterly report on Form 10-Q of CareView Communications, Inc.

 

(2)

Based on my knowledge, this report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report’

 

(3)

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

(4)

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a.

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b.

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c.

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluations; and

 

d.

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

(5)

The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of the internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a.

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b.

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

November 14, 2024	/s/ Steven G. Johnson
	Steven G. Johnson
	Chief Executive Officer
	Principal Executive Officer

 

CAREVIEW COMMUNICATIONS, INC. 10-Q

EXHIBIT 31.2

 

CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER
PURSUANT TO SECTION 302 OF

THE SARBANES-OXLEY ACT OF 2002

 

I, Jason T. Thompson, certify that:

 

(1)

I have reviewed this quarterly report on Form 10-Q of CareView Communications, Inc.

 

(2)

Based on my knowledge, this report does not contain any untrue statements of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report’

 

(3)

Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

(4)

The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a.

Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b.

Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c.

Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluations; and

 

d.

Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

(5)

The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of the internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a.

All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b.

Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

November 14, 2024	/s/ Jason T. Thompson
	Jason T. Thompson
	Principal Financial Officer
	Chief Accounting Officer

 

CAREVIEW COMMUNICATIONS, INC. 10-Q

EXHIBIT 32

 

CERTIFICATIONS UNDER SECTION 906

 

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 (subsections (a) and (b) of section 1350, chapter 63 of title 18, United States Code), each of the undersigned officers of CareView Communications, Inc., a Nevada corporation (the “Company”), does hereby certify, to such officer’s knowledge, that:

 

The Quarterly Report for the quarter ended September 30, 2024 (the “Form 10-Q”) of the Company fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, and the information contained in the Form 10-Q fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

November 14, 2024	/s/ Steven G. Johnson
	Steven G. Johnson
	Chief Executive Officer
	Principal Executive Officer

 

November 14, 2024	/s/ Jason T. Thompson
	Jason T. Thompson
	Chief Accounting Officer
	Principal Financial Officer

 

v3.24.3

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2024	Nov. 14, 2024
Document Information [Line Items]
Entity Central Index Key	0001377149
Entity Registrant Name	CareView Communications Inc
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2024
Document Transition Report	false
Entity File Number	000-54090
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	95-4659068
Entity Address, Address Line One	405 State Highway 121, Suite B-240
Entity Address, City or Town	Lewisville
Entity Address, State or Province	TX
Entity Address, Postal Zip Code	75067
City Area Code	972
Local Phone Number	943-6050
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	CRVW
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		583,880,748

v3.24.3

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Current Assets:
Cash	$ 1,400,386	$ 1,145,871
Accounts receivable	996,983	1,167,934
Inventory	317,314	294,435
Other current assets	368,173	335,091
Total current assets	3,082,856	2,943,331
Property and equipment, net	190,973	317,626
Other Assets:
Intangible assets, net	408,608	406,301
Operating lease right-of-use asset	170,992	292,990
Other assets, net	294,120	302,010
Total other assets	873,720	1,001,301
Total assets	4,147,549	4,262,258
Current Liabilities:
Accounts payable	427,244	598,095
Deferred revenue	2,689,605	1,752,061
Operating lease liability	192,154	188,184
Accrued interest payable	18,885,514	16,479,139
Other current liabilities	458,324	489,497
Total current liabilities	43,352,841	40,206,976
Long-term Liabilities:
Operating lease liability, non-current	0	139,099
Other liabilities	287,143	178,907
Total long-term liabilities	287,143	318,006
Total liabilities	43,639,984	40,524,982
Stockholders' Deficit:
Preferred stock - par value $0.001; 20,000,000 shares authorized; no shares issued and outstanding	0	0
Common stock - par value $0.001; 800,000,000 shares authorized; 583,880,748 issued and outstanding	583,881	583,881
Additional paid in capital	171,408,790	171,038,349
Accumulated deficit	(211,485,106)	(207,884,954)
Total stockholders' deficit	(39,492,435)	(36,262,724)
Total liabilities and stockholders' deficit	4,147,549	4,262,258
Nonrelated Party [Member]
Current Liabilities:
Notes payable	20,000,000	20,000,000
Related Party [Member]
Current Liabilities:
Notes payable	$ 700,000	$ 700,000

v3.24.3

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares	Sep. 30, 2024	Dec. 31, 2023
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock par value (in dollars per share)	$ 0.001	$ 0.001
Common stock shares authorized (in shares)	800,000,000	800,000,000
Common stock shares issued (in shares)	583,880,748	583,880,748
Common stock shares outstanding (in shares)	583,880,748	583,880,748

v3.24.3

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Revenues
Total revenue	$ 1,932,382	$ 2,425,390	$ 6,109,259	$ 7,917,758
Operating expenses:
Cost of equipment	0	105,311	91,644	362,241
Network operations	905,385	537,779	2,389,370	2,006,308
General and administration	758,615	684,848	2,165,908	2,434,568
Sales and marketing	292,215	423,184	856,432	822,417
Research and development	593,686	621,929	1,636,396	1,655,934
Depreciation and amortization	66,957	95,874	206,424	376,502
Total operating expense	2,616,858	2,468,925	7,346,174	7,657,970
Operating income (loss)	(684,476)	(43,535)	(1,236,915)	259,788
Other income and (expense)
Interest expense	(802,125)	(830,994)	(2,406,375)	(2,527,955)
Interest income	15,946	4,628	43,138	6,647
Total other expense	(786,179)	(826,366)	(2,363,237)	(2,521,308)
Loss before taxes	(1,470,655)	(869,901)	(3,600,152)	(2,261,520)
Provision for income taxes	0	0	0	0
Net loss	$ (1,470,655)	$ (869,901)	$ (3,600,152)	$ (2,261,520)
Net loss per share (in dollars per share)	$ (0)	$ (0)	$ (0.01)	$ (0.01)
Weighted average number of common shares outstanding, basic, and diluted (in shares)	583,880,748	583,880,748	583,880,748	417,517,785
Subscription Based Lease [Member]
Revenues
Total revenue	$ 997,771	$ 1,031,828	$ 3,016,915	$ 3,409,523
Sales Based Equipment Package [Member]
Revenues
Total revenue	120	876,126	816,935	2,872,911
Sales Based Software Bundle [Member]
Revenues
Total revenue	$ 934,491	$ 517,436	$ 2,275,409	$ 1,635,324

v3.24.3

Condensed Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Balance (in shares) at Dec. 31, 2022	141,880,748
Balance at Dec. 31, 2022	$ 141,881	$ 127,130,055	$ (203,932,665)	$ (76,660,729)
Stock based compensation	$ 0	62,260	0	62,260
Debt to equity conversion at $0.10 (in shares)	262,000,000
Debt to equity conversion at $0.10	$ 262,000	25,938,000	0	26,200,000
Net loss	$ 0	0	(1,346,812)	(1,346,812)
Balance (in shares) at Mar. 31, 2023	403,880,748
Balance at Mar. 31, 2023	$ 403,881	153,130,315	(205,279,477)	(51,745,281)
Balance (in shares) at Dec. 31, 2022	141,880,748
Balance at Dec. 31, 2022	$ 141,881	127,130,055	(203,932,665)	(76,660,729)
Net loss				(2,261,520)
Balance (in shares) at Sep. 30, 2023	583,880,748
Balance at Sep. 30, 2023	$ 583,881	171,029,955	(206,194,185)	(34,580,349)
Balance (in shares) at Mar. 31, 2023	403,880,748
Balance at Mar. 31, 2023	$ 403,881	153,130,315	(205,279,477)	(51,745,281)
Stock based compensation	$ 0	54,796	0	54,796
Debt to equity conversion at $0.10 (in shares)	180,000,000
Debt to equity conversion at $0.10	$ 180,000	17,820,000	0	18,000,000
Net loss	$ 0	0	(44,807)	(44,807)
Balance (in shares) at Jun. 30, 2023	583,880,748
Balance at Jun. 30, 2023	$ 583,881	171,005,111	(205,324,284)	(33,735,292)
Stock based compensation	0	24,844	0	24,844
Net loss	$ 0	0	(869,901)	(869,901)
Balance (in shares) at Sep. 30, 2023	583,880,748
Balance at Sep. 30, 2023	$ 583,881	171,029,955	(206,194,185)	(34,580,349)
Balance (in shares) at Dec. 31, 2023	583,880,748
Balance at Dec. 31, 2023	$ 583,881	171,038,349	(207,884,954)	(36,262,724)
Stock based compensation	0	53,271	0	53,271
Net loss	$ 0	0	(1,022,226)	(1,022,226)
Balance (in shares) at Mar. 31, 2024	583,880,748
Balance at Mar. 31, 2024	$ 583,881	171,091,620	(208,907,180)	(37,231,679)
Balance (in shares) at Dec. 31, 2023	583,880,748
Balance at Dec. 31, 2023	$ 583,881	171,038,349	(207,884,954)	(36,262,724)
Net loss				(3,600,152)
Balance (in shares) at Sep. 30, 2024	583,880,748
Balance at Sep. 30, 2024	$ 583,881	171,408,790	(211,485,106)	(39,492,435)
Balance (in shares) at Mar. 31, 2024	583,880,748
Balance at Mar. 31, 2024	$ 583,881	171,091,620	(208,907,180)	(37,231,679)
Stock based compensation	0	158,424	0	158,424
Net loss	$ 0	0	(1,107,271)	(1,107,271)
Balance (in shares) at Jun. 30, 2024	583,880,748
Balance at Jun. 30, 2024	$ 583,881	171,250,044	(210,014,451)	(38,180,526)
Stock based compensation	0	158,746	0	158,746
Net loss	$ 0	0	(1,470,655)	(1,470,655)
Balance (in shares) at Sep. 30, 2024	583,880,748
Balance at Sep. 30, 2024	$ 583,881	$ 171,408,790	$ (211,485,106)	$ (39,492,435)

v3.24.3

Condensed Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) (Parentheticals) - $ / shares	Jun. 30, 2023	Mar. 31, 2023
Debt Converted to Equity [Member]
Debt to equity conversion price per share (in dollars per share)	$ 0.1	$ 0.1

v3.24.3

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITES
Net loss	$ (3,600,152)	$ (2,261,520)
Adjustments to reconcile net loss to net cash flows provided by operating activities:
Depreciation	163,247	273,478
Amortization of intangible assets	27,052	81,242
Amortization of deferred installation costs	4,634	21,783
Non-cash lease expense	121,998	103,853
Stock based compensation	370,441	141,900
Changes in operating assets and liabilities:
Accounts receivable	170,951	(877,542)
Inventory	(22,879)	68,840
Other current assets	(33,083)	(258,817)
Accounts payable	(170,852)	(44,952)
Accrued interest	2,406,375	2,406,375
Other current liabilities	(8,968)	268,719
Deferred revenue	1,053,823	455,076
Deferred sales commissions	45,508	(95,275)
Operating lease liability	(135,129)	(112,178)
Net cash flows provided by operating activities	392,966	170,982
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property and equipment	(36,594)	(6,444)
Patent, trademark, and other intangible asset costs	(93,815)	0
Net cash flows used in investing activities	(130,409)	(6,444)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of vehicle loan	(8,042)	(10,684)
Net cash flows used in financing activities	(8,042)	(10,684)
Increase in cash	254,515	153,854
Cash, beginning of period	1,145,871	520,166
Cash, end of period	1,400,386	674,020
SUPPLEMENTAL SCHEDULE OF NON-CASH FINANCING ACTIVITES
Non-cash debt-to-equity conversion	$ 0	$ 44,200,000

v3.24.3

Note 1 - Basis of Presentation and Recently Issued Accounting Pronouncements	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	NOTE 1 – BASIS OF PRESENTATION AND RECENTLY ISSUED ACCOUNTING PRONOUNCEMENTS   Interim Financial Statements   The accompanying unaudited interim condensed consolidated financial statements of CareView Communications, Inc. (“CareView”, the “Company”, “we”, “us” or “our”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with GAAP and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The balance sheet at December 31, 2023 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the SEC on March 29, 2024.   Revenue Recognition   We recognize revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606 (“ASC 606”). For our subscription service contracts, we have employed the practical expedient discussed in ASC 606-10-55-18 related to invoicing as we have the right to consideration from our customers in the amount that corresponds directly with the value to the customer of our performance completed to date and therefore, we recognize revenue upon invoicing as further discussed below.   In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which we expect to be entitled to receive in exchange for these goods or services. The provisions of ASC 606 include a five-step process by which we determine revenue recognition, depicting the transfer of goods or services to customers in amounts reflecting the payment to which we expect to be entitled in exchange for those goods or services. ASC 606 requires us to apply the following steps: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, we satisfy the performance obligation. For those customers for which we are required to collect sales taxes, we record such sales taxes on a net basis which has no effect on the amount of revenue or expenses recognized as the sales taxes are a flow through to the taxing authority.   We enter into contracts with customers that may provide multiple combinations of our products, software solutions, and other related services, which are generally capable of being distinct and accounted for as separate performance obligations. Performance obligations that are not distinct at contract inception are combined.   Customer contract fulfillment typically involves multiple procurement promises, which may include various equipment, software subscription, project-related installation and training services, and support. We allocate the transaction price to each performance obligation based on estimated relative standalone selling price. Revenue is then recognized for each performance obligation upon transferring control of the hardware, software, and services to the customer and in an amount that reflects the consideration we expect to receive and the estimated benefit the customer receives over the term of the contract.   Generally, we recognize revenue under each of our performance obligations as follows:     ● Subscription services – We recognize subscription revenues monthly over the contracted license period.   ● Equipment packages – We recognize equipment revenues when control of the devices has been transferred to the client (“point in time”).   ● Software bundle and related services related to sales-based contracts – We recognize our software subscription, installation, training, and other services on a straight-line basis over the estimated contracted license period (“over time”).   The Company earns sales-based contract revenue from services rendered under specific agreements, which hinge on a third-party reseller who possesses the exclusive authority to engage directly with veteran-owned hospitals. Evaluating the Company’s role in these contracts necessitates assessing whether it functions as the principal or agent, a determination that involves analyzing the extent of control the Company wields over the contracts.   Following its assessment, the Company reports revenue from services provided under such contracts on a gross basis. This decision is justified by the Company’s primary responsibility to fulfill the contractual obligations, including delivery and installation of equipment and software, training, and its control over other services within the contract period. Furthermore, the Company directly sets the contract price with its customers based on the services outlined in the statement of work. As the Company is responsible for fulling this promise and maintains control, the Company is acting as the principal.   Disaggregation of Revenue    The following presents net revenues disaggregated by our business models:       Nine Months Ended       September 30,       2024     2023   Sales-based contract revenue                 Equipment package, net (point in time)   $ 816,935     $ 2,872,911   Software bundle (over time)     2,275,409       1,635,324   Total sales-based contract revenue     3,092,344       4,508,235                     Subscription-based lease revenue     3,016,915       3,409,523   Net revenue   $ 6,109,259     $ 7,917,758     Contract Liabilities   Our subscription-based contracts payment arrangements are required to be paid monthly which are recognized into revenue when received. Some customers choose to pay their subscription fee in advance. Customer payments received in advance of satisfaction of the related performance obligations are deferred as contract liabilities. These amounts are recorded as “deferred revenue” in our condensed consolidated balance sheets and recognized into revenues over time.   Our sales-based contract payment arrangements with our customers typically include an initial equipment payment due upon signing of the contract and subsequent payments when certain performance obligations are completed. Customer payments received in advance of satisfaction of related performance obligations are deferred as contract liabilities. These amounts are recorded as “deferred revenue” in our condensed consolidated balance sheets and recognized into revenues as either a point in time or over time.   During the nine months ended September 30, 2024 and 2023, a total of $0 and $21,145, respectively, of subscription-based deferred contract liability was recognized as revenue. The table below details the subscription-based contract liability activity during the nine months ended September 30, 2024 and 2023       Nine Months Ended       September 30,       2024     2023   Balance, beginning of period   $ —     $ 21,145   Additions     —       —   Transfer to revenue     —       (21,145 ) Balance, end of period   $ —     $ —     During the nine months ended September 30, 2024 and 2023, a total of $2,145,534 and $1,331,409, respectively, of sales-based deferred contract liability was recognized as revenue. The table below details the sales-based contract liability activity during the nine months ended September 30, 2024 and 2023.       Nine Months Ended       September 30,       2024     2023   Balance, beginning of period   $ 1,922,925     $ 869,485   Additions     3,199,357       1,807,630   Transfer to revenue     (2,145,534 )     (1,331,409 ) Balance, end of period   $ 2,976,748     $ 1,345,706     As of September 30, 2024, the aggregate amount of deferred revenue from subscription-based contracts and sales-based contracts allocated to performance obligations that are unsatisfied or partially satisfied is $2,976,748 and will be recognized into revenue over time as follows:   Years Ending December 31,   Amount   2024   $ 963,044   2025     1,813,087   Thereafter     200,617       $ 2,976,748     We defer and capitalize all costs associated with the installation of the CareView System into a healthcare facility until the CareView System is fully operational and accepted by the healthcare facility. Installation costs are specifically identifiable based on the amounts we are charged from third party installers or directly identifiable labor hours incurred for each installation. Upon acceptance, the associated costs are expensed on a straight-line basis over the life of the contract with the healthcare facility. These costs are included in network operations on the accompanying consolidated statements of operations.   The table below details the activity in these deferred installation costs during the periods ended September 30, 2024 and 2023, included in other assets in the accompanying unaudited consolidated balance sheet.       Nine Months Ended       September 30,       2024     2023   Balance, beginning of period   $ 48,309     $ 33,461   Additions     64,457       —   Transfer to expense     (16,126 )     (21,783 ) Balance, end of period   $ 96,640     $ 11,678     Significant Judgements When Applying Topic 606   Contracts with our customers are typically structured similarly and include various combinations of our products, software solutions, and related services. Determining whether the various contract promises are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment.   Contract transaction price is allocated to distinct performance obligations using estimated standalone selling price. We determine standalone selling price maximizing observable inputs such as standalone sales, competitor standalone sales, or substantive renewal prices charged to customers when they exist. In instances where standalone selling price is not observable, we utilize an estimate of standalone selling price. Such estimates are derived from various methods that include cost plus margin, and historical pricing practices. Judgment may be required to determine standalone selling prices for each performance obligation and whether it depicts the amount we expect to receive in exchange for the related good or service.   Contract modifications occur when we and our customers agree to modify existing customer contracts to change the scope or price (or both) of the contract or when a customer terminates some, or all, of the existing services provided by us. When a contract modification occurs, it requires us to exercise judgment to determine if the modification should be accounted for as a separate contract, the termination of the original contract and creation of a new contract, a cumulative catch-up adjustment to the original contract, or a combination.   Contracts with our customers include a limited warranty on our products covering materials, workmanship, or design for the duration of the contract. We do not offer paid additional extended or lifetime warranty packages. We determined the limited warranty in our contract is not a distinct performance obligation. We do not believe our estimates of warranty costs to be significant to our determination of revenue recognition, and therefore, did not reserve for warranty costs.   Leases   The Company has an operating lease primarily consisting of office space with a remaining lease term of 11 months. At the lease commencement date, an operating lease liability and related operating lease asset are recognized. The operating lease liabilities are calculated using the present value of lease payments. The discount rate used is either the rate implicit in the lease, when known, or our estimated incremental borrowing rate. Operating lease assets are valued based on the initial operating lease liabilities plus any prepaid rent and direct costs from executing the leases.   Earnings (Loss) Per Share   We calculate earnings per share (“EPS”) in accordance with GAAP, which requires the computation and disclosure of two EPS amounts, basic and diluted. Basic EPS is computed based on the weighted average number of common shares outstanding during the period. Diluted EPS is computed based on the weighted average number of common shares outstanding plus all potentially dilutive common shares outstanding during the period under the treasury stock method. Such potential dilutive common shares consist of stock options, warrants to purchase our Common Stock (the “Warrants”) and convertible debt. Potential common shares totaling 73,616,280 and 46,801,922 on September 30, 2024 and 2023, respectively, have been excluded from the diluted earnings per share calculation as they are anti-dilutive due to our reported net loss. The 73,616,280 potential common shares consist of 67,921,835 stock options and 5,694,445 warrants.   Accounting Standards Update (ASU)   ASU 2020-06 simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20, Debt: Debt with Conversion and Other Options, that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock. The guidance in ASC 470-20 applies to convertible instruments for which the embedded conversion features are not required to be bifurcated from the host contract and accounted for as derivatives. In addition, the amendments revise the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity, by removing certain criteria required for equity classification. These amendments are expected to result in more freestanding financial instruments qualifying for equity classification (and, therefore, not accounted for as derivatives), as well as fewer embedded features requiring separate accounting from the host contract. The amendments in ASU 2020-06 further revise the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share (EPS) for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. We as a smaller reporting company as defined by the SEC have adopted ASU 2020-06 effective for fiscal year 2024. As of 2024, the Company does not have any preferred stock or convertible debt.   ASU 2022-03 clarifies that a “contractual sale restriction prohibiting the sale of an equity security is a characteristic of the reporting entity holding the equity security” and is not included in the equity security’s unit of account. Accordingly, an entity should not consider the contractual sale restriction when measuring the equity security’s fair value (i.e., the entity should not apply a discount related to the contractual sale restriction, as stated in ASC 820-10-35-36B as amended by the ASU). In addition, the ASU prohibits an entity from recognizing a contractual sale restriction as a separate unit of account. Under the existing guidance in ASC 820-10-35-6B, “although a reporting entity must be able to access the market, the reporting entity does not need to be able to sell the particular asset or transfer the particular liability on the measurement date to be able to measure fair value on the basis of the price in that market.” ASU 2022-03 clarifies that an entity should apply this existing guidance when measuring the fair value of equity securities that are subject to contractual sale restrictions (i.e., a contractual sale restriction on the reporting entity that prevents the sale of an equity security in the market does not prevent the entity from measuring the fair value of the equity security on the basis of the price in that principal market). ASU 2022-03 for the Company is effective for fiscal year 2024. For 2024, no contractual sale restriction exists with the Company.   ASU 2023-09 requires public business entities to disclose percentages and amounts in their reporting currency for certain categories in a tabular format with qualitative disclosures on an annual basis. ASU 2023-09 requires the use of the following categories to assist investors with assessing risks and opportunities related to effective tax rates over time and for multiple entities:   State and local income tax, net of federal (national) income tax effect Foreign tax effect Effect of changes in tax laws or rates enacted in the current period Effect of cross-border tax laws Tax credits Changes in valuation allowances Nontaxable or nondeductible items Changes in unrecognized tax benefits   The new reporting guidance is effective for the Company for annual periods beginning after December 15, 2024.   ASU 2023-07 states entities with a single reportable segment must apply all of the disclosure requirements of ASU 2023-07, as well as all existing segment disclosure and reconciliation requirements in ASC 280, on both an annual and an interim basis. The Company as an entity with a single reportable segment will present accordingly for the Form 10-K.    ASU 2024-03 specifies more information about income statement expenses upon adoption of the new standard. Disaggregation of Income Statement Expenses (DISE), applies to all public business entities (PBEs) and is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The Company will adopt appropriately.

v3.24.3

Note 2 - Going Concern, Liquidity and Management's Plan	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Substantial Doubt about Going Concern [Text Block]	NOTE 2 – GOING CONCERN, LIQUIDITY AND MANAGEMENT’S PLAN   Accounting standards require management to evaluate our ability to continue as a going concern for a period of one year after the date of the filing of this Form 10-Q (“evaluation period”). In evaluating the Company’s ability to continue as a going concern, management considers the conditions and events that raise substantial doubt about the Company’s ability to continue as a going concern for a period of twelve months after the Company issues its financial statements. For the nine months ended September 30, 2024, management considers the Company’s current financial condition and liquidity sources, including current funds available, forecasted future cash flows, and the Company’s conditional and unconditional obligations due within 12 months of the date these financial statements are issued.   The Company is subject to risks like those of healthcare technology companies whereby revenues are generated based on both sales-based and subscription-based models, which assume dependence on key individuals, uncertainty of product development, generation of revenues, positive cash flow, dependence on outside sources of capital, risks associated with research, development, and successful testing of its products, successful protection of intellectual property, ability to maintain and grow its customer base, and susceptibility to infringement on the proprietary rights of others. The Company’s net losses, cash outflows, and working capital deficit raise substantial doubt about the Company’s ability to continue as a going concern. The attainment of profitable operations is dependent on future events, including obtaining adequate financing to fulfill the Company’s growth and operating activities and generating a level of revenues adequate to support the Company’s cost structure.    As of September 30, 2024, the Company had a working capital deficit of $40,269,985. The Company’s net losses, cash outflows, and working capital deficit raise substantial doubt about the Company’s ability to continue as a going concern. Management has evaluated the significance of the conditions described above in relation to the Company’s ability to meet its obligations and concluded that, without additional funding, the Company will not have sufficient funds to meet its obligations within one year from the date the consolidated financial statements were issued. While management will look to continue funding operations by increased sales volumes and raising additional capital from sources such as sales of its debt or equity securities or loans to meet operating cash requirements, there is no assurance that management’s plans will be successful.    Management continues to monitor the immediate and future cash flows needs of the company in a variety of ways which include forecasted net cash flows from operations, capital expenditure control, new inventory orders, debt modifications, increases in sales outreach, streamlining and controlling general and administrative costs, competitive industry pricing, sale of equities, debt conversions, new product or services offerings, and new business partnerships.   The accompanying consolidated financial statements have been prepared assuming that the Company will continue as a going concern. This basis of accounting contemplates the recovery of the Company’s assets and the satisfaction of liabilities in the normal course of business. A successful transition to attaining profitable operations is dependent upon achieving a level of positive cash flows adequate to support the Company’s cost structure.

v3.24.3

Note 3 - Stockholders' Equity	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Equity [Text Block]	NOTE 3 – STOCKHOLDERS’ EQUITY   Warrants to Purchase Common Stock of the Company   We use the Black-Scholes-Merton option pricing model (“Black-Scholes Model”) to determine the fair value of Warrants. The Black-Scholes Model requires the use of a number of assumptions including volatility of the stock price, the weighted average risk-free interest rate, and the weighted average term of the Warrant.   The risk-free interest rate assumption is based upon observed interest rates on zero coupon U.S. Treasury bonds whose maturity period is appropriate for the term of the Warrants and is calculated by using the average daily historical stock prices through the day preceding the grant date. Estimated volatility is a measure of the amount by which our stock price is expected to fluctuate each year during the expected life of the award. Our estimated volatility is an average of the historical volatility of our stock prices (and that of peer entities whose stock prices were publicly available) over a period equal to the expected life of the awards.   A summary of our Warrants activity and related information follows:                               Weighted                       Weighted     Average       Number of     Range of     Average     Remaining       Shares Under     Warrant Price     Exercise     Contractual       Warrant     Per Share     Price     Life   Balance at December 31, 2023     5,694,445     0.011 -0.0303     $ 0.024       2.6   Granted     —       —       —       —   Expired     —       —       —       —   Canceled     —       —       —       —   Balance at September 30, 2024     5,694,445     0.011 -0.0303     $ 0.024       1.8     Options to Purchase Common Stock of the Company   During the nine months ended September 30, 2024, 30,282,858 options to purchase our Common Stock were granted having a fair value of $1,816,671 and exercise price of $0.06 per share.   A summary of our stock option activity and related information follows:                       Weighted                       Weighted     Average               Number of     Average     Remaining     Aggregate       Shares Under     Exercise     Contractual     Intrinsic       Options     Price     Life     Value   Balance at December 31, 2023     38,483,977     $ 0.09       5.2     $ 314,925   Granted     30,282,858       0.06       9.4       —   Forfeited/Expired     (845,000 )     0.58       —       —   Exercised     —       —       —       —   Balance at September 30, 2024     67,921,835     $ 0.07       6.7     $ 314,925   Vested and Exercisable at September 30, 2024     36,863,977     $ 0.08       4.5     $ 314,925     Share-based compensation expense for Options charged to our operating results for the three and nine months ended September 30, 2024 and 2023 was $158,746 and $24,844 for the three-month period, and $370,441 and $141,900 for the nine-month period, respectively. The estimate of forfeitures is to be recorded at the time of grant and revised in subsequent periods if actual forfeitures differ from the estimates. We have not included an adjustment to our stock-based compensation expense based on the nominal amount of the historical forfeiture rate. We do, however, revise our stock-based compensation expense based on actual forfeitures during each reporting period.   At September 30, 2024, total unrecognized estimated compensation expense related to non-vested Options granted prior to that date was approximately $1,503,685, which is expected to be recognized over a weighted-average period of 2.4 years. No tax benefit was realized due to a continued pattern of operating losses.

v3.24.3

Note 4 - Other Current Assets	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Other Current Assets [Text Block]	NOTE 4 – OTHER CURRENT ASSETS   Other current assets consist of the following:       September 30,     December 31,       2024     2023   Prepaid insurance   $ 235,975     $ 180,267   Other prepaid expenses     40,217       62,843   Sales tax overpayment     91,981       91,981   TOTAL OTHER CURRENT ASSETS   $ 368,173     $ 335,091

v3.24.3

Note 5 - Inventory	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 5 – INVENTORY   Inventory is valued at the lower of cost, determined on a first-in, first-out (FIFO), or net realizable value. Inventory items are analyzed to determine cost and net realizable value and appropriate valuation adjustments are then established.   Inventory consists of the following:       September 30,     December 31,       2024     2023   Equipment components   $ 317,314     $ 294,435   TOTAL INVENTORY   $ 317,314     $ 294,435

v3.24.3

Note 6 - Property and Equipment	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 6 – PROPERTY AND EQUIPMENT   Property and equipment consist of the following:       September 30,     December 31,       2024     2023   Network equipment   $ 9,218,247     $ 9,204,511   Office equipment     264,813       241,955   Vehicles     133,617       133,616   Test equipment     230,365       230,365   Furniture     92,097       92,097   Warehouse equipment     18,788       18,788   Leasehold improvements     5,121       5,121         9,963,048       9,926,453   Less: accumulated depreciation     (9,772,075 )     (9,608,827 ) TOTAL PROPERTY AND EQUIPMENT, NET   $ 190,973     $ 317,626     Depreciation expense for the nine months ended September 30, 2024 and 2023 was $163,247 and $273,478, respectively.

v3.24.3

Note 7 - Intangible and Other Assets, Net	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Intangible and Other Assets [Text Block]	NOTE 7 – INTANGIBLE AND OTHER ASSETS, NET   Intangible assets consist of the following:       September 30, 2024       Cost     Accumulated Amortization     Net   Patents and trademarks   $ 895,789     $ 500,960     $ 394,829   Other intangible assets     33,298       19,519       13,779   TOTAL INTANGIBLE ASSETS   $ 929,087     $ 520,479     $ 408,608         December 31, 2023       Cost     Accumulated Amortization     Net   Patents and trademarks   $ 879,492     $ 478,250     $ 401,242   Other intangible assets     20,237       15,178       5,059   TOTAL INTANGIBLE ASSETS   $ 899,729     $ 493,428     $ 406,301     Other assets consist of the following:       September 30, 2024       Cost     Accumulated Amortization     Net   Deferred installation costs   $ 1,462,177     $ 1,365,536     $ 96,641   Deferred clinical training costs     1,920       338       1,582   Deferred sales commissions     606,780       492,526       114,254   Prepaid license fee     249,999       214,480       35,519   Security deposit     46,124       —       46,124   TOTAL OTHER ASSETS   $ 2,367,000     $ 2,072,880     $ 294,120         December 31, 2023       Cost     Accumulated Amortization     Net   Deferred installation costs   $ 1,397,720     $ 1,349,410     $ 48,310   Deferred clinical training costs     —       —       —   Deferred sales commissions     439,221       279,459       159,762   Prepaid license fee     249,999       202,185       47,814   Security deposit     46,124       —       46,124   TOTAL OTHER ASSETS   $ 2,133,064     $ 1,831,054     $ 302,010

v3.24.3

Note 8 - Other Current Liabilities	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Accounts Payable, Accrued Liabilities, and Other Liabilities Disclosure, Current [Text Block]	NOTE 8 – OTHER CURRENT LIABILITIES   Other current liabilities consist of the following:       September 30,     December 31,       2024     2023   Allowance for system removal     54,802       54,802   Accrued paid time off     131,766       164,566   Deferred officer compensation (1)     49,528       49,528   Other accrued liabilities     222,228       220,601   TOTAL OTHER CURRENT LIABILITIES   $ 458,324     $ 489,497     (1) Remaining salary payable for Steve Johnson, CEO, between February 15, 2018 and September 30, 2020.

v3.24.3

Note 9 - Agreement With PDL Biopharma, Inc.	9 Months Ended
	Sep. 30, 2024
PDL Credit Agreement [Member]
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 9 – AGREEMENT WITH PDL BIOPHARMA, INC.   On June 26, 2015, we entered into a Credit Agreement (as subsequently amended) with PDL BioPharma, Inc. (“PDL”), as administrative agent and lender (“the Lender”) (the “PDL Credit Agreement”). Under the PDL Credit Agreement the Lender made available to us up to $40 million in two tranches of $20 million each. Tranche One was funded on October 8, 2015 (the “Tranche One Loan”). Pursuant to the terms of the PDL Credit Agreement and having not met the Tranche Two Milestones by July 26, 2017, the Tranche Two funding was terminated in full.   On February 28, 2023, the Company, the Borrower, the Subsidiary Guarantor, the Lender and the Tranche Three Lenders entered into a Twenty-Eighth Amendment to Modification Agreement (the “Twenty-Eighth Modification Agreement Amendment”), pursuant to which the parties agreed to amend the Modification Agreement to provide that the dates on which the Lender may elect, in the Lender’s sole discretion, to terminate the Modification Period would be July 31, 2018 and March 31, 2023 (with each such date permitted to be extended by the Lender in its sole discretion); and that the Borrower’s (i) interest payments that would otherwise be due under the Credit Agreement on December 31, 2018, March 31, 2019, June 30, 2019, September 30, 2019, December 31, 2019, March 31, 2020, June 30, 2020, September 30, 2020 and October 7, 2020 and (ii) payments for principal and for any other Obligations then outstanding under the Tranche One Loan and the Tranche Three Loans that would otherwise be due under the Credit Agreement on October 7, 2020, would each be deferred until March 30, 2023 (the end of the extended Modification Period).   On March 31, 2023, the Company, the Borrower, the Subsidiary Guarantor, the Lender and the Tranche Three Lenders entered into a Twenty-Ninth Amendment to Modification Agreement (the “Twenty-Ninth Modification Agreement Amendment”), pursuant to which the parties agreed to amend the Modification Agreement to provide that the dates on which the Lender may elect, in the Lender’s sole discretion, to terminate the Modification Period would be July 31, 2018 and April 30, 2023 (with each such date permitted to be extended by the Lender in its sole discretion); and that the Borrower’s (i) interest payments that would otherwise be due under the Credit Agreement on December 31, 2018, March 31, 2019, June 30, 2019, September 30, 2019, December 31, 2019, March 31, 2020, June 30, 2020, September 30, 2020 and October 7, 2020 and (ii) payments for principal and for any other Obligations then outstanding under the Tranche One Loan and the Tranche Three Loans that would otherwise be due under the Credit Agreement on October 7, 2020, would each be deferred until April 30, 2023 (the end of the extended Modification Period). Under debt modification/troubled debt guidance, we determined that the first of the eight amendments had no cash flow impact, and therefore, had no impact on accounting. Amendments nine through ten qualified for modification accounting, while the final nineteen amendments qualified for troubled debt restructuring accounting. As appropriate, we expensed the legal costs paid to third parties. For the nine months ended September 30, 2024 and 2023, pursuant to the terms of the PDL Modification Agreement, as amended, $2,406,375 was recorded as interest expense on the accompanying unaudited condensed consolidated financial statements.   On April 29, 2023, the Company, the Borrower, the Subsidiary Guarantor, the Lender and the Tranche Three Lenders entered into a Thirtieth Amendment to Modification Agreement (the “Thirtieth Modification Agreement Amendment”), pursuant to which the parties agreed to amend the Modification Agreement to provide that the dates on which the Lender may elect, in the Lender’s sole discretion, to terminate the Modification Period would be July 31, 2018 and May 31, 2023 (with each such date permitted to be extended by the Lender in its sole discretion); and that the Borrower’s (i) interest payments that would otherwise be due under the Credit Agreement on December 31, 2018, March 31, 2019, June 30, 2019, September 30, 2019, December 31, 2019, March 31, 2020, June 30, 2020, September 30, 2020 and October 7, 2020 and (ii) payments for principal and for any other Obligations then outstanding under the Tranche One Loan and the Tranche Three Loans that would otherwise be due under the Credit Agreement on October 7, 2020, would each be deferred until May 31, 2023 (the end of the extended Modification Period).   On May 31, 2023 (the “Effective Date”), the Company, the Borrower, the Lender, Steven G. Johnson, President and Chief Executive Officer of the Company, and Dr. James R. Higgins, a director of the Company, entered into a Seventh Amendment to Credit Agreement (the “Seventh Credit Agreement Amendment”), pursuant to which the parties agreed to amend the Credit Agreement to, among other things, (i) provide that, after the Effective Date, all accrued but unpaid interest (including interest accrued but unpaid prior to the Effective Date and excluding interest payable on the Maturity Date, in connection with any prepayment, or in the event of an Event of Default, which interest will be payable in cash) accruing on Tranche One Loans and Tranche Three Loans will be paid-in-kind on each Interest Payment Date by being added to the aggregate principal balance of the respective loans in arrears on each Interest Payment Date; (ii) require certain mandatory prepayments of the loans by the Company, including (A) quarterly prepayments in the amount, if any, that the Company’s Excess Cash Flow exceeds $600,000, (B) monthly transfers to the Inventory Reserve Account in the amount, if any, the Company’s cash exceeds $1,200,000, (C) prepayment in the amount, if any, the Company’s Inventory Reserve Account exceeds $600,000, and (D) prepayment in the amount, if any, of 100% of the gross proceeds of any indebtedness incurred by the Company (other than permitted indebtedness); and (iii) extend the Maturity Date to  December 31, 2024.   On September 30, 2023 (the “Effective Date”), the Company, the Borrower, the Lender, Steven G. Johnson, President and Chief Executive Officer of the Company, and Dr. James R. Higgins, a director of the Company, entered into an Eighth Amendment to Credit Agreement (the “Eighth Credit Agreement Amendment”), pursuant to which the parties agreed to amend the Credit Agreement to modify certain texts originating within the Seventh Credit Agreement. Stricken texts include “all accrued but unpaid interest (including interest accrued but unpaid prior to the Effective Date and excluding interest payable on the Maturity Date, in connection with any prepayment, or in the event of an Event of Default, which interest will be payable in cash) accruing on Tranche One Loans and Tranche Three Loans will be paid-in-kind on each Interest Payment Date by being added to the aggregate principal balance of the respective loans in arrears on each Interest Payment Date.” Additional texts include Release of Claims, which “in consideration of the Lender’s and Agent’s agreements contained in this Amendment, each of Holdings, the Borrower and the Subsidiary Guarantor hereby releases and discharges the Lender and the Agent and their affiliates, subsidiaries, successors, assigns, directors, officers, employees, agents, consultants and attorneys (each, a “Released Person”) of and from any and all other claims, suits, actions, investigations, proceedings or demands, whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which Holdings, the Borrower or the Subsidiary Guarantor ever had or now has against the Agent, any Lender or any other Released Person which relates, directly or indirectly, to any acts or omissions of the Agent, any Lender or any other Released Person relating to the Credit Agreement or any other Loan Document on or prior to the date hereof.”   Accounting Treatment   In connection with the PDL Credit Agreement, as amended, we issued the PDL Warrant to the Lender. As of June 30, 2024, the Amended PDL Warrant has not been exercised.   Due to the PDL Eighth Credit Agreement Amendment, the calculations for the “interest paid-in-kind” and quarterly “prepayment(s)” were removed effective with the year ending on December 31, 2023. The Company concluded that the Company is encountering financial hardship and that a concession was not granted. As the Lender has not granted a concession, the guidance contained in ASC 470-50 Modification and Extinguishment was applied. Given the present value of the cash flows under the Eighth Credit Agreement Amendment differed by less than 10% from the present value of the remaining cash flows under the terms of the prior debt agreement, the debt was determined to be not substantially different which resulted in modification accounting. The Company did not have any debt issuance costs, only legal expenses.

v3.24.3

Note 10 - Agreement With Healthcor	9 Months Ended
	Sep. 30, 2024
HealthCor Notes [Member]
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 10 – AGREEMENT WITH HEALTHCOR   On April 21, 2011, we entered into a Note and Warrant Purchase Agreement (as subsequently amended) with HealthCor Partners Fund, LP (“HealthCor Partners”) and HealthCor Hybrid Offshore Master Fund, LP (“HealthCor Hybrid” and, together with HealthCor Partners, “HealthCor”) (the “HealthCor Purchase Agreement”). Pursuant to the terms of the HealthCor Purchase Agreement, we sold and issued Senior Secured Convertible Notes to HealthCor in the principal amount of $9,316,000 and $10,684,000, respectively (collectively the “2011 HealthCor Notes”). The 2011 HealthCor Notes have a maturity date of  April 20, 2021. We also issued Warrants to HealthCor for the purchase of an aggregate of up to 5,488,456 and 6,294,403 shares, respectively, of our Common Stock at an exercise price of $1.40 per share (collectively the “2011 HealthCor Warrants”). So long as no event of default has occurred, the outstanding principal balances of the 2011 HealthCor Notes accrue interest from April 21, 2011 through April 20, 2016 (the “First Five-Year Note Period”) at the rate of 12.5% per annum, compounding quarterly and shall be added to the outstanding principal balances of the 2011 HealthCor Notes on the last day of each calendar quarter. Interest accruing from April 21, 2016 through April 20, 2021 (the “Second Five Year Note Period”) at a rate of 10% per annum, compounding quarterly, may be paid quarterly in arrears in cash or, at our option, such interest may be added to the outstanding principal balances of the 2011 HealthCor Notes on the last day of each calendar quarter. For the period from April 21, 2016 through September 30, 2018 interest has been added to the outstanding principal balance. Pursuant to the terms of the Ninth Amendment, the accrual of interest has been suspended after September 30, 2018. From the date any event of default occurs, the interest rate, then applicable, shall be increased by five percent (5%) per annum. HealthCor has the right, upon an event of default, to declare due and payable any unpaid principal amount of the 2011 HealthCor Notes then outstanding, plus previously accrued but unpaid interest and charges, together with the interest then scheduled to accrue (calculated at the default rate described in the immediately preceding sentence) through the end of the First Five Year Note Period or the Second Five Year Note Period, as applicable. Subject to the terms of the Ninth Amendment as discussed below, HealthCor’s ability to convert any portion of the outstanding and unpaid accrued interest on and principal balances of the 2011 HealthCor Notes into fully paid and nonassessable shares of our Common Stock has been eliminated. The warrants issued with this Note were cancelled with the Ninth-Amendment dated July 10, 2018.   On March 30, 2023, HealthCor noteholders owning an aggregate of $36,000,000 Replacement Notes, entered into a Replacement Note Conversion Agreement, wherein half, fifty percent, of the HealthCor Replacement Notes were converted into shares of the Company’s common stock at a conversion price of $0.10 per share, resulting in the issuance of an aggregate of 180,000,000 shares. The other related and non-related parties Replacement Notes of $8,200,000 were likewise converted into shares of the Company’s common stock at a conversion price of $0.10 per share, resulting in the issuance of a combined total aggregate of 262,000,000 shares (the “Conversion Shares”). The shares bear a lockup legend that expires December 31, 2023.   On May 24, 2023, HealthCor noteholders owning an aggregate of $18,000,000 Replacement Notes, presented Conversion Notices, pursuant to the terms of the Replacement Note, for the conversion of the Replacement Notes into 180,000,000 shares of the Company’s common stock at a conversion price of $0.10 per share. The shares bear a lockup legend that expires December 31, 2023.   Accounting Treatment    When issuing debt or equity securities convertible into common stock at a discount to the fair value of the common stock at the date the debt or equity financing is committed, a company is required to record a beneficial conversion feature (“BCF”) charge. We had three separate issuances of equity securities convertible into common stock that qualify under this accounting treatment, (i) the 2011 HealthCor Notes, (ii) the 2012 HealthCor Notes and (iii) the 2014 HealthCor Notes. Because the conversion option and the 2011 HealthCor Warrants on the 2011 HealthCor Notes were originally classified as a liability when issued due to the down round provision and the removal of the provision requiring liability treatment, and subsequently reclassified to equity on December 31, 2011 when the 2011 HealthCor Notes were amended, only the accrued interest capitalized as payment in kind (’‘PIK’’) since reclassification qualifies under this accounting treatment. We recorded an aggregate of $0 and $0 in interest for the years ended December 31, 2023 and 2022, respectively, related to these transactions. For the years ended December 31, 2023, and 2022, we recorded $0 and $0, respectively, of PIK related to the notes included in the HealthCor Purchase Agreement. The face amount of the 2012 HealthCor Notes, 2014 HealthCor Notes, the Fifth Amendment Notes and the Eighth Amendment Notes and all accrued PIK interest also qualify for BCF treatment as discussed above. Under the accounting standards, we determined that the restructuring of the HealthCor notes, pursuant to the terms of the Ninth Amendment, resulted in a troubled debt restructuring. As the future cash flows were greater than the carrying amount of the debt at the date of the amendment, we accounted for the change prospectively using the new effective interest rate.   Warrants were issued with the Fourth, Fifth, Eighth, Ninth, and Allonge 3 Amendment Notes and the proceeds were allocated to the instruments based on relative fair value as the warrants did not contain any features requiring liability treatment and therefore were classified as equity. At each amendment date, the warrants were recorded as debt discount, as a reduction of the net carrying amount of the debt. The debt discounts are amortized into interest expense each period under the effective interest method. The value allocated to the Ninth Amendment Warrants was $378,000. The value allocated to the Allonge 3 Amendment Warrants was $420,000.
PDL Credit Agreement [Member]
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 9 – AGREEMENT WITH PDL BIOPHARMA, INC.   On June 26, 2015, we entered into a Credit Agreement (as subsequently amended) with PDL BioPharma, Inc. (“PDL”), as administrative agent and lender (“the Lender”) (the “PDL Credit Agreement”). Under the PDL Credit Agreement the Lender made available to us up to $40 million in two tranches of $20 million each. Tranche One was funded on October 8, 2015 (the “Tranche One Loan”). Pursuant to the terms of the PDL Credit Agreement and having not met the Tranche Two Milestones by July 26, 2017, the Tranche Two funding was terminated in full.   On February 28, 2023, the Company, the Borrower, the Subsidiary Guarantor, the Lender and the Tranche Three Lenders entered into a Twenty-Eighth Amendment to Modification Agreement (the “Twenty-Eighth Modification Agreement Amendment”), pursuant to which the parties agreed to amend the Modification Agreement to provide that the dates on which the Lender may elect, in the Lender’s sole discretion, to terminate the Modification Period would be July 31, 2018 and March 31, 2023 (with each such date permitted to be extended by the Lender in its sole discretion); and that the Borrower’s (i) interest payments that would otherwise be due under the Credit Agreement on December 31, 2018, March 31, 2019, June 30, 2019, September 30, 2019, December 31, 2019, March 31, 2020, June 30, 2020, September 30, 2020 and October 7, 2020 and (ii) payments for principal and for any other Obligations then outstanding under the Tranche One Loan and the Tranche Three Loans that would otherwise be due under the Credit Agreement on October 7, 2020, would each be deferred until March 30, 2023 (the end of the extended Modification Period).   On March 31, 2023, the Company, the Borrower, the Subsidiary Guarantor, the Lender and the Tranche Three Lenders entered into a Twenty-Ninth Amendment to Modification Agreement (the “Twenty-Ninth Modification Agreement Amendment”), pursuant to which the parties agreed to amend the Modification Agreement to provide that the dates on which the Lender may elect, in the Lender’s sole discretion, to terminate the Modification Period would be July 31, 2018 and April 30, 2023 (with each such date permitted to be extended by the Lender in its sole discretion); and that the Borrower’s (i) interest payments that would otherwise be due under the Credit Agreement on December 31, 2018, March 31, 2019, June 30, 2019, September 30, 2019, December 31, 2019, March 31, 2020, June 30, 2020, September 30, 2020 and October 7, 2020 and (ii) payments for principal and for any other Obligations then outstanding under the Tranche One Loan and the Tranche Three Loans that would otherwise be due under the Credit Agreement on October 7, 2020, would each be deferred until April 30, 2023 (the end of the extended Modification Period). Under debt modification/troubled debt guidance, we determined that the first of the eight amendments had no cash flow impact, and therefore, had no impact on accounting. Amendments nine through ten qualified for modification accounting, while the final nineteen amendments qualified for troubled debt restructuring accounting. As appropriate, we expensed the legal costs paid to third parties. For the nine months ended September 30, 2024 and 2023, pursuant to the terms of the PDL Modification Agreement, as amended, $2,406,375 was recorded as interest expense on the accompanying unaudited condensed consolidated financial statements.   On April 29, 2023, the Company, the Borrower, the Subsidiary Guarantor, the Lender and the Tranche Three Lenders entered into a Thirtieth Amendment to Modification Agreement (the “Thirtieth Modification Agreement Amendment”), pursuant to which the parties agreed to amend the Modification Agreement to provide that the dates on which the Lender may elect, in the Lender’s sole discretion, to terminate the Modification Period would be July 31, 2018 and May 31, 2023 (with each such date permitted to be extended by the Lender in its sole discretion); and that the Borrower’s (i) interest payments that would otherwise be due under the Credit Agreement on December 31, 2018, March 31, 2019, June 30, 2019, September 30, 2019, December 31, 2019, March 31, 2020, June 30, 2020, September 30, 2020 and October 7, 2020 and (ii) payments for principal and for any other Obligations then outstanding under the Tranche One Loan and the Tranche Three Loans that would otherwise be due under the Credit Agreement on October 7, 2020, would each be deferred until May 31, 2023 (the end of the extended Modification Period).   On May 31, 2023 (the “Effective Date”), the Company, the Borrower, the Lender, Steven G. Johnson, President and Chief Executive Officer of the Company, and Dr. James R. Higgins, a director of the Company, entered into a Seventh Amendment to Credit Agreement (the “Seventh Credit Agreement Amendment”), pursuant to which the parties agreed to amend the Credit Agreement to, among other things, (i) provide that, after the Effective Date, all accrued but unpaid interest (including interest accrued but unpaid prior to the Effective Date and excluding interest payable on the Maturity Date, in connection with any prepayment, or in the event of an Event of Default, which interest will be payable in cash) accruing on Tranche One Loans and Tranche Three Loans will be paid-in-kind on each Interest Payment Date by being added to the aggregate principal balance of the respective loans in arrears on each Interest Payment Date; (ii) require certain mandatory prepayments of the loans by the Company, including (A) quarterly prepayments in the amount, if any, that the Company’s Excess Cash Flow exceeds $600,000, (B) monthly transfers to the Inventory Reserve Account in the amount, if any, the Company’s cash exceeds $1,200,000, (C) prepayment in the amount, if any, the Company’s Inventory Reserve Account exceeds $600,000, and (D) prepayment in the amount, if any, of 100% of the gross proceeds of any indebtedness incurred by the Company (other than permitted indebtedness); and (iii) extend the Maturity Date to  December 31, 2024.   On September 30, 2023 (the “Effective Date”), the Company, the Borrower, the Lender, Steven G. Johnson, President and Chief Executive Officer of the Company, and Dr. James R. Higgins, a director of the Company, entered into an Eighth Amendment to Credit Agreement (the “Eighth Credit Agreement Amendment”), pursuant to which the parties agreed to amend the Credit Agreement to modify certain texts originating within the Seventh Credit Agreement. Stricken texts include “all accrued but unpaid interest (including interest accrued but unpaid prior to the Effective Date and excluding interest payable on the Maturity Date, in connection with any prepayment, or in the event of an Event of Default, which interest will be payable in cash) accruing on Tranche One Loans and Tranche Three Loans will be paid-in-kind on each Interest Payment Date by being added to the aggregate principal balance of the respective loans in arrears on each Interest Payment Date.” Additional texts include Release of Claims, which “in consideration of the Lender’s and Agent’s agreements contained in this Amendment, each of Holdings, the Borrower and the Subsidiary Guarantor hereby releases and discharges the Lender and the Agent and their affiliates, subsidiaries, successors, assigns, directors, officers, employees, agents, consultants and attorneys (each, a “Released Person”) of and from any and all other claims, suits, actions, investigations, proceedings or demands, whether based in contract, tort, implied or express warranty, strict liability, criminal or civil statute or common law of any kind or character, known or unknown, which Holdings, the Borrower or the Subsidiary Guarantor ever had or now has against the Agent, any Lender or any other Released Person which relates, directly or indirectly, to any acts or omissions of the Agent, any Lender or any other Released Person relating to the Credit Agreement or any other Loan Document on or prior to the date hereof.”   Accounting Treatment   In connection with the PDL Credit Agreement, as amended, we issued the PDL Warrant to the Lender. As of June 30, 2024, the Amended PDL Warrant has not been exercised.   Due to the PDL Eighth Credit Agreement Amendment, the calculations for the “interest paid-in-kind” and quarterly “prepayment(s)” were removed effective with the year ending on December 31, 2023. The Company concluded that the Company is encountering financial hardship and that a concession was not granted. As the Lender has not granted a concession, the guidance contained in ASC 470-50 Modification and Extinguishment was applied. Given the present value of the cash flows under the Eighth Credit Agreement Amendment differed by less than 10% from the present value of the remaining cash flows under the terms of the prior debt agreement, the debt was determined to be not substantially different which resulted in modification accounting. The Company did not have any debt issuance costs, only legal expenses.

v3.24.3

Note 11 - Lease	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Lessee, Operating Leases [Text Block]	NOTE 11 – LEASE   Under ASC Topic 842, Leases (“ASC 842”), operating lease expense is generally recognized evenly over the term of the lease. The Company has an operating lease primarily consisting of office space with a remaining lease term of 11 months (Lease through  August 31, 2025).    On March 4, 2020, we entered into the Fourth Amendment to Commercial Lease Agreement (the “Lease Extension”), wherein we extended the Lease through  August 31, 2025. The Lease Extension contains a renewal provision under which the Lease has been extended for an additional five-year period under the same terms and conditions of the original Lease Agreement.   The Company has further concluded that the Lease Extension has no effects on the classification of the Lease. Rent expense for the nine months ended September 30, 2024 and 2023 was $225,682 and $221,535, respectively.   Undiscounted Cash Flows   Future lease payments included in the measurement of operating lease liability on the condensed consolidated balance sheet as of September 30, 2024, for the following five fiscal years and thereafter as follows:   Quarter ending   Operating   September 30, 2024   Leases   Remaining 2024     56,084   2025     150,679   Total minimum lease payments   $ 206,763   Less effects of discounting     (14,609 ) Present value of future minimum lease payments   $ 192,154

v3.24.3

Note 12 - Subsequent Events	9 Months Ended
	Sep. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 12 – SUBSEQUENT EVENTS   The Company has evaluated subsequent events through November 14, 2024, the date of filing of this Form 10-Q.

v3.24.3

Insider Trading Arrangements	9 Months Ended
	Sep. 30, 2024
Insider Trading Arr Line Items
Rule 10b5-1 Arrangement Terminated [Flag]	false
Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false

v3.24.3

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2024
Accounting Policies [Abstract]
Basis of Accounting, Policy [Policy Text Block]	Interim Financial Statements   The accompanying unaudited interim condensed consolidated financial statements of CareView Communications, Inc. (“CareView”, the “Company”, “we”, “us” or “our”) have been prepared in accordance with generally accepted accounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of management, such financial statements include all adjustments (consisting solely of normal recurring adjustments) necessary for the fair statement of the financial information included herein in accordance with GAAP and the rules and regulations of the Securities and Exchange Commission (the “SEC”). The balance sheet at December 31, 2023 has been derived from the audited consolidated financial statements at that date but does not include all of the information and footnotes required by GAAP for complete financial statements. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the period. Actual results could differ from those estimates. Results of operations for interim periods are not necessarily indicative of results for the full year. The accompanying unaudited condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2023 as filed with the SEC on March 29, 2024.
Revenue [Policy Text Block]	Revenue Recognition   We recognize revenue in accordance with Accounting Standards Codification (“ASC”) Topic 606 (“ASC 606”). For our subscription service contracts, we have employed the practical expedient discussed in ASC 606-10-55-18 related to invoicing as we have the right to consideration from our customers in the amount that corresponds directly with the value to the customer of our performance completed to date and therefore, we recognize revenue upon invoicing as further discussed below.   In accordance with ASC 606, revenue is recognized when a customer obtains control of promised goods or services. The amount of revenue recognized reflects the consideration to which we expect to be entitled to receive in exchange for these goods or services. The provisions of ASC 606 include a five-step process by which we determine revenue recognition, depicting the transfer of goods or services to customers in amounts reflecting the payment to which we expect to be entitled in exchange for those goods or services. ASC 606 requires us to apply the following steps: (1) identify the contract with the customer; (2) identify the performance obligations in the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when, or as, we satisfy the performance obligation. For those customers for which we are required to collect sales taxes, we record such sales taxes on a net basis which has no effect on the amount of revenue or expenses recognized as the sales taxes are a flow through to the taxing authority.   We enter into contracts with customers that may provide multiple combinations of our products, software solutions, and other related services, which are generally capable of being distinct and accounted for as separate performance obligations. Performance obligations that are not distinct at contract inception are combined.   Customer contract fulfillment typically involves multiple procurement promises, which may include various equipment, software subscription, project-related installation and training services, and support. We allocate the transaction price to each performance obligation based on estimated relative standalone selling price. Revenue is then recognized for each performance obligation upon transferring control of the hardware, software, and services to the customer and in an amount that reflects the consideration we expect to receive and the estimated benefit the customer receives over the term of the contract.   Generally, we recognize revenue under each of our performance obligations as follows:     ● Subscription services – We recognize subscription revenues monthly over the contracted license period.   ● Equipment packages – We recognize equipment revenues when control of the devices has been transferred to the client (“point in time”).   ● Software bundle and related services related to sales-based contracts – We recognize our software subscription, installation, training, and other services on a straight-line basis over the estimated contracted license period (“over time”).   The Company earns sales-based contract revenue from services rendered under specific agreements, which hinge on a third-party reseller who possesses the exclusive authority to engage directly with veteran-owned hospitals. Evaluating the Company’s role in these contracts necessitates assessing whether it functions as the principal or agent, a determination that involves analyzing the extent of control the Company wields over the contracts.   Following its assessment, the Company reports revenue from services provided under such contracts on a gross basis. This decision is justified by the Company’s primary responsibility to fulfill the contractual obligations, including delivery and installation of equipment and software, training, and its control over other services within the contract period. Furthermore, the Company directly sets the contract price with its customers based on the services outlined in the statement of work. As the Company is responsible for fulling this promise and maintains control, the Company is acting as the principal.   Disaggregation of Revenue    The following presents net revenues disaggregated by our business models:       Nine Months Ended       September 30,       2024     2023   Sales-based contract revenue                 Equipment package, net (point in time)   $ 816,935     $ 2,872,911   Software bundle (over time)     2,275,409       1,635,324   Total sales-based contract revenue     3,092,344       4,508,235                     Subscription-based lease revenue     3,016,915       3,409,523   Net revenue   $ 6,109,259     $ 7,917,758     Contract Liabilities   Our subscription-based contracts payment arrangements are required to be paid monthly which are recognized into revenue when received. Some customers choose to pay their subscription fee in advance. Customer payments received in advance of satisfaction of the related performance obligations are deferred as contract liabilities. These amounts are recorded as “deferred revenue” in our condensed consolidated balance sheets and recognized into revenues over time.   Our sales-based contract payment arrangements with our customers typically include an initial equipment payment due upon signing of the contract and subsequent payments when certain performance obligations are completed. Customer payments received in advance of satisfaction of related performance obligations are deferred as contract liabilities. These amounts are recorded as “deferred revenue” in our condensed consolidated balance sheets and recognized into revenues as either a point in time or over time.   During the nine months ended September 30, 2024 and 2023, a total of $0 and $21,145, respectively, of subscription-based deferred contract liability was recognized as revenue. The table below details the subscription-based contract liability activity during the nine months ended September 30, 2024 and 2023       Nine Months Ended       September 30,       2024     2023   Balance, beginning of period   $ —     $ 21,145   Additions     —       —   Transfer to revenue     —       (21,145 ) Balance, end of period   $ —     $ —     During the nine months ended September 30, 2024 and 2023, a total of $2,145,534 and $1,331,409, respectively, of sales-based deferred contract liability was recognized as revenue. The table below details the sales-based contract liability activity during the nine months ended September 30, 2024 and 2023.       Nine Months Ended       September 30,       2024     2023   Balance, beginning of period   $ 1,922,925     $ 869,485   Additions     3,199,357       1,807,630   Transfer to revenue     (2,145,534 )     (1,331,409 ) Balance, end of period   $ 2,976,748     $ 1,345,706     As of September 30, 2024, the aggregate amount of deferred revenue from subscription-based contracts and sales-based contracts allocated to performance obligations that are unsatisfied or partially satisfied is $2,976,748 and will be recognized into revenue over time as follows:   Years Ending December 31,   Amount   2024   $ 963,044   2025     1,813,087   Thereafter     200,617       $ 2,976,748     We defer and capitalize all costs associated with the installation of the CareView System into a healthcare facility until the CareView System is fully operational and accepted by the healthcare facility. Installation costs are specifically identifiable based on the amounts we are charged from third party installers or directly identifiable labor hours incurred for each installation. Upon acceptance, the associated costs are expensed on a straight-line basis over the life of the contract with the healthcare facility. These costs are included in network operations on the accompanying consolidated statements of operations.   The table below details the activity in these deferred installation costs during the periods ended September 30, 2024 and 2023, included in other assets in the accompanying unaudited consolidated balance sheet.       Nine Months Ended       September 30,       2024     2023   Balance, beginning of period   $ 48,309     $ 33,461   Additions     64,457       —   Transfer to expense     (16,126 )     (21,783 ) Balance, end of period   $ 96,640     $ 11,678     Significant Judgements When Applying Topic 606   Contracts with our customers are typically structured similarly and include various combinations of our products, software solutions, and related services. Determining whether the various contract promises are considered distinct performance obligations that should be accounted for separately versus together may require significant judgment.   Contract transaction price is allocated to distinct performance obligations using estimated standalone selling price. We determine standalone selling price maximizing observable inputs such as standalone sales, competitor standalone sales, or substantive renewal prices charged to customers when they exist. In instances where standalone selling price is not observable, we utilize an estimate of standalone selling price. Such estimates are derived from various methods that include cost plus margin, and historical pricing practices. Judgment may be required to determine standalone selling prices for each performance obligation and whether it depicts the amount we expect to receive in exchange for the related good or service.   Contract modifications occur when we and our customers agree to modify existing customer contracts to change the scope or price (or both) of the contract or when a customer terminates some, or all, of the existing services provided by us. When a contract modification occurs, it requires us to exercise judgment to determine if the modification should be accounted for as a separate contract, the termination of the original contract and creation of a new contract, a cumulative catch-up adjustment to the original contract, or a combination.   Contracts with our customers include a limited warranty on our products covering materials, workmanship, or design for the duration of the contract. We do not offer paid additional extended or lifetime warranty packages. We determined the limited warranty in our contract is not a distinct performance obligation. We do not believe our estimates of warranty costs to be significant to our determination of revenue recognition, and therefore, did not reserve for warranty costs.
Lessee, Leases [Policy Text Block]	Leases   The Company has an operating lease primarily consisting of office space with a remaining lease term of 11 months. At the lease commencement date, an operating lease liability and related operating lease asset are recognized. The operating lease liabilities are calculated using the present value of lease payments. The discount rate used is either the rate implicit in the lease, when known, or our estimated incremental borrowing rate. Operating lease assets are valued based on the initial operating lease liabilities plus any prepaid rent and direct costs from executing the leases.
Earnings Per Share, Policy [Policy Text Block]	Earnings (Loss) Per Share   We calculate earnings per share (“EPS”) in accordance with GAAP, which requires the computation and disclosure of two EPS amounts, basic and diluted. Basic EPS is computed based on the weighted average number of common shares outstanding during the period. Diluted EPS is computed based on the weighted average number of common shares outstanding plus all potentially dilutive common shares outstanding during the period under the treasury stock method. Such potential dilutive common shares consist of stock options, warrants to purchase our Common Stock (the “Warrants”) and convertible debt. Potential common shares totaling 73,616,280 and 46,801,922 on September 30, 2024 and 2023, respectively, have been excluded from the diluted earnings per share calculation as they are anti-dilutive due to our reported net loss. The 73,616,280 potential common shares consist of 67,921,835 stock options and 5,694,445 warrants.
New Accounting Pronouncements, Policy [Policy Text Block]	Accounting Standards Update (ASU)   ASU 2020-06 simplifies the accounting for convertible debt instruments and convertible preferred stock by removing the existing guidance in ASC 470-20, Debt: Debt with Conversion and Other Options, that requires entities to account for beneficial conversion features and cash conversion features in equity, separately from the host convertible debt or preferred stock. The guidance in ASC 470-20 applies to convertible instruments for which the embedded conversion features are not required to be bifurcated from the host contract and accounted for as derivatives. In addition, the amendments revise the scope exception from derivative accounting in ASC 815-40 for freestanding financial instruments and embedded features that are both indexed to the issuer’s own stock and classified in stockholders’ equity, by removing certain criteria required for equity classification. These amendments are expected to result in more freestanding financial instruments qualifying for equity classification (and, therefore, not accounted for as derivatives), as well as fewer embedded features requiring separate accounting from the host contract. The amendments in ASU 2020-06 further revise the guidance in ASC 260, Earnings Per Share, to require entities to calculate diluted earnings per share (EPS) for convertible instruments by using the if-converted method. In addition, entities must presume share settlement for purposes of calculating diluted EPS when an instrument may be settled in cash or shares. We as a smaller reporting company as defined by the SEC have adopted ASU 2020-06 effective for fiscal year 2024. As of 2024, the Company does not have any preferred stock or convertible debt.   ASU 2022-03 clarifies that a “contractual sale restriction prohibiting the sale of an equity security is a characteristic of the reporting entity holding the equity security” and is not included in the equity security’s unit of account. Accordingly, an entity should not consider the contractual sale restriction when measuring the equity security’s fair value (i.e., the entity should not apply a discount related to the contractual sale restriction, as stated in ASC 820-10-35-36B as amended by the ASU). In addition, the ASU prohibits an entity from recognizing a contractual sale restriction as a separate unit of account. Under the existing guidance in ASC 820-10-35-6B, “although a reporting entity must be able to access the market, the reporting entity does not need to be able to sell the particular asset or transfer the particular liability on the measurement date to be able to measure fair value on the basis of the price in that market.” ASU 2022-03 clarifies that an entity should apply this existing guidance when measuring the fair value of equity securities that are subject to contractual sale restrictions (i.e., a contractual sale restriction on the reporting entity that prevents the sale of an equity security in the market does not prevent the entity from measuring the fair value of the equity security on the basis of the price in that principal market). ASU 2022-03 for the Company is effective for fiscal year 2024. For 2024, no contractual sale restriction exists with the Company.   ASU 2023-09 requires public business entities to disclose percentages and amounts in their reporting currency for certain categories in a tabular format with qualitative disclosures on an annual basis. ASU 2023-09 requires the use of the following categories to assist investors with assessing risks and opportunities related to effective tax rates over time and for multiple entities:   State and local income tax, net of federal (national) income tax effect Foreign tax effect Effect of changes in tax laws or rates enacted in the current period Effect of cross-border tax laws Tax credits Changes in valuation allowances Nontaxable or nondeductible items Changes in unrecognized tax benefits   The new reporting guidance is effective for the Company for annual periods beginning after December 15, 2024.   ASU 2023-07 states entities with a single reportable segment must apply all of the disclosure requirements of ASU 2023-07, as well as all existing segment disclosure and reconciliation requirements in ASC 280, on both an annual and an interim basis. The Company as an entity with a single reportable segment will present accordingly for the Form 10-K.    ASU 2024-03 specifies more information about income statement expenses upon adoption of the new standard. Disaggregation of Income Statement Expenses (DISE), applies to all public business entities (PBEs) and is effective for annual reporting periods beginning after December 15, 2026 and interim reporting periods beginning after December 15, 2027. The Company will adopt appropriately.

v3.24.3

Note 1 - Basis of Presentation and Recently Issued Accounting Pronouncements (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Disaggregation of Revenue [Table Text Block]	Nine Months Ended       September 30,       2024     2023   Sales-based contract revenue                 Equipment package, net (point in time)   $ 816,935     $ 2,872,911   Software bundle (over time)     2,275,409       1,635,324   Total sales-based contract revenue     3,092,344       4,508,235                     Subscription-based lease revenue     3,016,915       3,409,523   Net revenue   $ 6,109,259     $ 7,917,758
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	Nine Months Ended       September 30,       2024     2023   Balance, beginning of period   $ —     $ 21,145   Additions     —       —   Transfer to revenue     —       (21,145 ) Balance, end of period   $ —     $ —       Nine Months Ended       September 30,       2024     2023   Balance, beginning of period   $ 1,922,925     $ 869,485   Additions     3,199,357       1,807,630   Transfer to revenue     (2,145,534 )     (1,331,409 ) Balance, end of period   $ 2,976,748     $ 1,345,706
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Table Text Block]	Years Ending December 31,   Amount   2024   $ 963,044   2025     1,813,087   Thereafter     200,617       $ 2,976,748
Capitalized Contract Cost [Table Text Block]	Nine Months Ended       September 30,       2024     2023   Balance, beginning of period   $ 48,309     $ 33,461   Additions     64,457       —   Transfer to expense     (16,126 )     (21,783 ) Balance, end of period   $ 96,640     $ 11,678

v3.24.3

Note 3 - Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Stockholders' Equity Note, Warrants or Rights [Table Text Block]	Weighted                       Weighted     Average       Number of     Range of     Average     Remaining       Shares Under     Warrant Price     Exercise     Contractual       Warrant     Per Share     Price     Life   Balance at December 31, 2023     5,694,445     0.011 -0.0303     $ 0.024       2.6   Granted     —       —       —       —   Expired     —       —       —       —   Canceled     —       —       —       —   Balance at September 30, 2024     5,694,445     0.011 -0.0303     $ 0.024       1.8
Share-Based Payment Arrangement, Option, Activity [Table Text Block]	Weighted                       Weighted     Average               Number of     Average     Remaining     Aggregate       Shares Under     Exercise     Contractual     Intrinsic       Options     Price     Life     Value   Balance at December 31, 2023     38,483,977     $ 0.09       5.2     $ 314,925   Granted     30,282,858       0.06       9.4       —   Forfeited/Expired     (845,000 )     0.58       —       —   Exercised     —       —       —       —   Balance at September 30, 2024     67,921,835     $ 0.07       6.7     $ 314,925   Vested and Exercisable at September 30, 2024     36,863,977     $ 0.08       4.5     $ 314,925

v3.24.3

Note 4 - Other Current Assets (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Other Current Assets [Table Text Block]	September 30,     December 31,       2024     2023   Prepaid insurance   $ 235,975     $ 180,267   Other prepaid expenses     40,217       62,843   Sales tax overpayment     91,981       91,981   TOTAL OTHER CURRENT ASSETS   $ 368,173     $ 335,091

v3.24.3

Note 5 - Inventory (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	September 30,     December 31,       2024     2023   Equipment components   $ 317,314     $ 294,435   TOTAL INVENTORY   $ 317,314     $ 294,435

v3.24.3

Note 6 - Property and Equipment (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	September 30,     December 31,       2024     2023   Network equipment   $ 9,218,247     $ 9,204,511   Office equipment     264,813       241,955   Vehicles     133,617       133,616   Test equipment     230,365       230,365   Furniture     92,097       92,097   Warehouse equipment     18,788       18,788   Leasehold improvements     5,121       5,121         9,963,048       9,926,453   Less: accumulated depreciation     (9,772,075 )     (9,608,827 ) TOTAL PROPERTY AND EQUIPMENT, NET   $ 190,973     $ 317,626

v3.24.3

Note 7 - Intangible and Other Assets, Net (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Finite-Lived Intangible Assets [Table Text Block]	September 30, 2024       Cost     Accumulated Amortization     Net   Patents and trademarks   $ 895,789     $ 500,960     $ 394,829   Other intangible assets     33,298       19,519       13,779   TOTAL INTANGIBLE ASSETS   $ 929,087     $ 520,479     $ 408,608       December 31, 2023       Cost     Accumulated Amortization     Net   Patents and trademarks   $ 879,492     $ 478,250     $ 401,242   Other intangible assets     20,237       15,178       5,059   TOTAL INTANGIBLE ASSETS   $ 899,729     $ 493,428     $ 406,301
Schedule of Other Assets, Noncurrent [Table Text Block]	September 30, 2024       Cost     Accumulated Amortization     Net   Deferred installation costs   $ 1,462,177     $ 1,365,536     $ 96,641   Deferred clinical training costs     1,920       338       1,582   Deferred sales commissions     606,780       492,526       114,254   Prepaid license fee     249,999       214,480       35,519   Security deposit     46,124       —       46,124   TOTAL OTHER ASSETS   $ 2,367,000     $ 2,072,880     $ 294,120       December 31, 2023       Cost     Accumulated Amortization     Net   Deferred installation costs   $ 1,397,720     $ 1,349,410     $ 48,310   Deferred clinical training costs     —       —       —   Deferred sales commissions     439,221       279,459       159,762   Prepaid license fee     249,999       202,185       47,814   Security deposit     46,124       —       46,124   TOTAL OTHER ASSETS   $ 2,133,064     $ 1,831,054     $ 302,010

v3.24.3

Note 8 - Other Current Liabilities (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Schedule of Other Current Liabilities [Table Text Block]	September 30,     December 31,       2024     2023   Allowance for system removal     54,802       54,802   Accrued paid time off     131,766       164,566   Deferred officer compensation (1)     49,528       49,528   Other accrued liabilities     222,228       220,601   TOTAL OTHER CURRENT LIABILITIES   $ 458,324     $ 489,497

v3.24.3

Note 11 - Lease (Tables)	9 Months Ended
	Sep. 30, 2024
Notes Tables
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Quarter ending   Operating   September 30, 2024   Leases   Remaining 2024     56,084   2025     150,679   Total minimum lease payments   $ 206,763   Less effects of discounting     (14,609 ) Present value of future minimum lease payments   $ 192,154

v3.24.3

Note 1 - Basis of Presentation and Recently Issued Accounting Pronouncements (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Revenue, Remaining Performance Obligation, Amount	$ 2,976,748
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	73,616,280	46,801,922
Share-Based Payment Arrangement, Option [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	67,921,835
Warrant [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares)	5,694,445
Office Space Lease [Member]
Lessee, Operating Lease, Remaining Lease Term (Month)	11 months
Subscription Based Contract [Member]
Contract with Customer, Liability, Revenue Recognized	$ (0)	$ 21,145
Sales Based Contracts [Member]
Contract With Customer Liability Revenue Recognized Including Opening Balance	$ 2,145,534	$ 1,331,409

v3.24.3

Note 1 - Basis of Presentation and Recently Issued Accounting Pronouncements - Disaggregation of Revenue (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Net revenue	$ 1,932,382	$ 2,425,390	$ 6,109,259	$ 7,917,758
Sales Based Equipment Package [Member]
Net revenue	120	876,126	816,935	2,872,911
Sales Based Software Bundle [Member]
Net revenue	$ 934,491	$ 517,436	2,275,409	1,635,324
Sales Based Contracts [Member]
Net revenue			3,092,344	4,508,235
Sales Based Contracts [Member] | Sales Based Equipment Package [Member]
Net revenue			816,935	2,872,911
Sales Based Contracts [Member] | Sales Based Software Bundle [Member]
Net revenue			2,275,409	1,635,324
Subscription Based Contract [Member]
Net revenue			$ 3,016,915	$ 3,409,523

v3.24.3

Note 1 - Basis of Presentation and Recently Issued Accounting Pronouncements - Schedule of Contract Liabilities (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Subscription Based Contract [Member]
Balance, beginning of period	$ 0	$ 21,145
Additions	0	0
Transfer to revenue	0	(21,145)
Balance, end of period	0	0
Sales Based Contracts [Member]
Balance, beginning of period	1,922,925	869,485
Additions	3,199,357	1,807,630
Balance, end of period	2,976,748	1,345,706
Transfer to revenue	$ (2,145,534)	$ (1,331,409)

v3.24.3

Note 1 - Basis of Presentation and Recently Issued Accounting Pronouncements - Schedule of Performance Obligations (Details)	Sep. 30, 2024 USD ($)
Performance obligation	$ 2,976,748

v3.24.3

Note 1 - Basis of Presentation and Recently Issued Accounting Pronouncements - Schedule of Performance Obligations 2 (Details)	Sep. 30, 2024 USD ($)
Performance obligation	$ 2,976,748
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Performance obligation	1,813,087
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Performance obligation	$ 200,617

v3.24.3

Note 1 - Basis of Presentation and Recently Issued Accounting Pronouncements - Schedule of Performance Obligations (Details) (Parentheticals)	Sep. 30, 2024
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2025-01-01
Satisfaction period (Year)	1 year
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-01-01
Satisfaction period (Year)	1 year

v3.24.3

Note 1 - Basis of Presentation and Recently Issued Accounting Pronouncements - Schedule of Capitalized Costs (Details) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Balance, beginning of period	$ 48,309	$ 33,461
Additions	64,457	0
Transfer to expense	(16,126)	(21,783)
Balance, end of period	$ 96,640	$ 11,678

v3.24.3

Note 2 - Going Concern, Liquidity and Management's Plan (Details Textual)	Sep. 30, 2024 USD ($)
Working Capital (Deficit)	$ 40,269,985

v3.24.3

Note 3 - Stockholders' Equity (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Sep. 30, 2024	Sep. 30, 2023
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Gross (in shares)			30,282,858
Share-Based Compensation Arrangement by Share-Based Payment Award, Options, Grants in Period, Grant Date Intrinsic Value (in dollars per share)			$ 1,816,671
Share-Based Compensation Arrangements by Share-Based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share)			$ 0.06
Share-Based Payment Arrangement, Expense	$ 158,746	$ 24,844	$ 370,441	$ 141,900
Share-Based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount	$ 1,503,685		$ 1,503,685
Share-Based Payment Arrangement, Nonvested Award, Cost Not yet Recognized, Period for Recognition (Year)			2 years 4 months 24 days
Share-Based Payment Arrangement, Option [Member]
Share-Based Payment Arrangement, Expense, Tax Benefit			$ 0

v3.24.3

Note 3 - Stockholders' Equity - Warrant Activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Warrants (in shares)	5,694,445
Warrants, remaining contractual life (Year)	1 year 9 months 18 days	2 years 7 months 6 days
Warrants (in shares)	5,694,445	5,694,445
Minimum [Member]
Warrants, exercise price (in dollars per share)	$ 0.01
Warrants, exercise price (in dollars per share)	0.01	$ 0.01
Maximum [Member]
Warrants, exercise price (in dollars per share)	0.03
Warrants, exercise price (in dollars per share)	0.03	0.03
Weighted Average [Member]
Warrants, exercise price (in dollars per share)	0.024
Warrants, exercise price (in dollars per share)	$ 0.024	$ 0.024

v3.24.3

Note 3 - Stockholders' Equity - Option Activity (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2024	Dec. 31, 2023
Balance (in shares)	38,483,977
Balance, exercise price (in dollars per share)	$ 0.09
Balance, remaining contractual life (Year)	6 years 8 months 12 days	5 years 2 months 12 days
Balance, aggregate intrinsic value	$ 314,925
Granted (in shares)	30,282,858
Granted, exercise price (in dollars per share)	$ 0.06
Granted, remaining contractual life (Year)	9 years 4 months 24 days
Forfeited/Expired (in shares)	(845,000)
Forfeited/Expired, exercise price (in dollars per share)	$ 0.58
Exercised (in shares)	0
Exercised, exercise price (in dollars per share)	$ 0
Balance (in shares)	67,921,835	38,483,977
Balance, exercise price (in dollars per share)	$ 0.07	$ 0.09
Balance, aggregate intrinsic value	$ 314,925	$ 314,925
Vested and Exercisable (in shares)	36,863,977
Vested and Exercisable, exercise price (in dollars per share)	$ 0.08
Vested and Exercisable, remaining contractual life (Year)	4 years 6 months
Vested and Exercisable, aggregate intrinsic value	$ 314,925

v3.24.3

Note 4 - Other Current Assets - Schedule of Other Current Assets (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Prepaid insurance	$ 235,975	$ 180,267
Other prepaid expenses	40,217	62,843
Sales tax overpayment	91,981	91,981
TOTAL OTHER CURRENT ASSETS	$ 368,173	$ 335,091

v3.24.3

Note 5 - Inventory - Schedule of Inventory (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
TOTAL INVENTORY	$ 317,314	$ 294,435
Equipment Components [Member]
TOTAL INVENTORY	$ 317,314	$ 294,435

v3.24.3

Note 6 - Property and Equipment (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023
Depreciation	$ 163,247	$ 273,478

v3.24.3

Note 6 - Property and Equipment - Schedule of Property and Equipment (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Property and equipment, gross	$ 9,963,048	$ 9,926,453
Less: accumulated depreciation	(9,772,075)	(9,608,827)
TOTAL PROPERTY AND EQUIPMENT, NET	190,973	317,626
Network Equipment [Member]
Property and equipment, gross	9,218,247	9,204,511
Office Equipment [Member]
Property and equipment, gross	264,813	241,955
Vehicles [Member]
Property and equipment, gross	133,617	133,616
Test Equipment [Member]
Property and equipment, gross	230,365	230,365
Furniture and Fixtures [Member]
Property and equipment, gross	92,097	92,097
Warehouse Equipment [Member]
Property and equipment, gross	18,788	18,788
Leasehold Improvements [Member]
Property and equipment, gross	$ 5,121	$ 5,121

v3.24.3

Note 7 - Intangible and Other Assets, Net - Schedule of Intangibles Assets (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Intangible assets, cost	$ 929,087	$ 899,729
Intangible assets, amortization	520,479	493,428
Intangible assets, net	408,608	406,301
Patents and Trademarks [Member]
Intangible assets, cost	895,789	879,492
Intangible assets, amortization	500,960	478,250
Intangible assets, net	394,829	401,242
Other Intangible Assets [Member]
Intangible assets, cost	33,298	20,237
Intangible assets, amortization	19,519	15,178
Intangible assets, net	$ 13,779	$ 5,059

v3.24.3

Note 7 - Intangible and Other Assets, Net - Schedule of Other Assets (Details) - USD ($)	Sep. 30, 2024	Dec. 31, 2023
Other assets, gross	$ 2,367,000	$ 2,133,064
Other assets, amortization	2,072,880	1,831,054
Other assets, net	294,120	302,010
Deferred Installation Costs [Member]
Other assets, gross	1,462,177	1,397,720
Other assets, amortization	1,365,536	1,349,410
Other assets, net	96,641	48,310
Deferred Clinical Training Costs [Member]
Other assets, gross	1,920	0
Other assets, amortization	338	0
Other assets, net	1,582	0
Deferred Sales Commissions [Member]
Other assets, gross	606,780	439,221
Other assets, amortization	492,526	279,459
Other assets, net	114,254	159,762
Prepaid License Fee [Member]
Other assets, gross	249,999	249,999
Other assets, amortization	214,480	202,185
Other assets, net	35,519	47,814
Security Deposits [Member]
Other assets, gross	46,124	46,124
Other assets, amortization	0	0
Other assets, net	$ 46,124	$ 46,124

v3.24.3

Note 8 - Other Current Liabilities - Schedule of Other Current Liabilities (Details) - USD ($)		Sep. 30, 2024	Dec. 31, 2023
Allowance for system removal		$ 54,802	$ 54,802
Accrued paid time off		131,766	164,566
Deferred officer compensation (1)	[1]	49,528	49,528
Other accrued liabilities		222,228	220,601
TOTAL OTHER CURRENT LIABILITIES		$ 458,324	$ 489,497
[1] Remaining salary payable for Steve Johnson, CEO, between February 15, 2018 and September 30, 2020.

v3.24.3

Note 9 - Agreement With PDL Biopharma, Inc. (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Mar. 31, 2023
PDL Modification Agreement [Member]
Interest Expense, Operating and Nonoperating	$ 2,406,375	$ 2,406,375
PDL Credit Agreement [Member]
Debt Instrument, Covenant, Excess Cash Flow Threshold			$ 600,000
Debt Instrument, Covenant, Excess Cash Threshold			1,200,000
Debt Instrument, Covenant, Inventory Reserve Account Threshold			$ 600,000
Debt Instrument, Covenant, Repayment Percentage Threshold			100.00%
PDL Credit Agreement [Member]
Line of Credit Facility, Maximum Borrowing Capacity	40,000,000
PDL Credit Agreement [Member] | Tranche One [Member]
Line of Credit Facility, Maximum Borrowing Capacity	20,000,000
PDL Credit Agreement [Member] | Tranche Two [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 20,000,000

v3.24.3

Note 10 - Agreement With Healthcor (Details Textual) - USD ($)				9 Months Ended		12 Months Ended
	May 24, 2023	Mar. 30, 2023	Apr. 21, 2011	Sep. 30, 2024	Sep. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Jun. 30, 2024
Debt Conversion, Converted Instrument, Amount				$ 0	$ 44,200,000
Ninth Amendment Warrants [Member]
Warrants and Rights Outstanding								$ 378,000
Allonge 3 Amendment Warrants [Member]
Warrants and Rights Outstanding								$ 420,000
HealthCor Notes [Member]
Paid-in-Kind Interest						$ 0	$ 0
HealthCor Notes [Member] | Replacement Note Conversion Agreement [Member]
Debt Conversion, Converted Instrument, Shares Issued (in shares)		262,000,000
HealthCor Notes [Member] | Replacement Note Conversion Agreement [Member] | HealthCor Noteholders [Member]
Debt Conversion, Converted Instrument, Amount		$ 36,000,000
Debt Instrument, Convertible, Conversion Price (in dollars per share)		$ 0.1
Debt Conversion, Converted Instrument, Shares Issued (in shares)		180,000,000
HealthCor Notes [Member] | Replacement Note Conversion Agreement [Member] | Other Related and Nonrelated Parties [Member]
Debt Conversion, Converted Instrument, Amount		$ 8,200,000
Debt Instrument, Convertible, Conversion Price (in dollars per share)		$ 0.1
Replacement Notes [Member] | Conversion of Replacement Notes Into Common Stock [Member]
Debt Conversion, Converted Instrument, Amount	$ 18,000,000
Debt Instrument, Convertible, Conversion Price (in dollars per share)	$ 0.1
Debt Conversion, Converted Instrument, Shares Issued (in shares)	180,000,000
PDL Credit Agreement [Member]
Paid-in-Kind Interest						$ 0	$ 0
Healthcor [Member] | Convertible Debt [Member]
Debt Instrument, Maturity Date			Apr. 21, 2011
Debt Instrument, Face Amount			$ 9,316,000
Issuance of Warrants (in shares)			5,488,456
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share)			$ 1.4
Debt Instrument, Interest Rate, Increase (Decrease)			5.00%
Healthcor [Member] | Convertible Debt [Member] | First Five-Year Note Period [Member]
Debt Instrument, Interest Rate During Period			12.50%
Healthcor [Member] | Convertible Debt [Member] | Second Five-Year Note Period [Member]
Debt Instrument, Interest Rate During Period			10.00%
Healthcor [Member] | Convertible Debt1 [Member]
Debt Instrument, Face Amount			$ 10,684,000
Issuance of Warrants (in shares)			6,294,403

v3.24.3

Note 11 - Lease (Details Textual) - USD ($)	9 Months Ended
	Sep. 30, 2024	Sep. 30, 2023	Mar. 04, 2020
Operating Lease, Expense	$ 225,682	$ 221,535
Office Space Lease [Member]
Lessee, Operating Lease, Remaining Lease Term (Month)	11 months
Lessee, Operating Lease, Renewal Term (Year)			5 years

v3.24.3

Note 11 - Lease - Schedule of Lease Maturities (Details)	Sep. 30, 2024 USD ($)
Remaining 2024	$ 56,084
2025	150,679
Total minimum lease payments	206,763
Less effects of discounting	(14,609)
Present value of future minimum lease payments	$ 192,154

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