NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES: Research and Development (Policies)
|6 Months Ended|
Jun. 30, 2020
|Research and Development||
Research and Development
Research and development costs are expensed as incurred. The majority of the Company's research and development costs consist of clinical study expenses. These consist of fees, charges, and related expenses incurred in the conduct of clinical studies conducted with Company products by independent outside contractors. External clinical studies expenses were approximately $2,013,000 and $1,314,000 for the six months ended June 30, 2020 and 2019, respectively.
Disclosure of accounting policy for costs it has incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef