v3.21.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Total revenue $ 5,281,788 $ 1,797,833 $ 14,314,127 $ 6,956,122
Costs and expenses:        
Cost of ancillary products and assembled components 26,310 11,142 60,212 40,855
Selling, general and administrative 2,740,328 1,833,723 7,984,035 7,264,410
Research and development 156,768 97,081 405,327 391,333
Depreciation and amortization 722,475 575,637 2,160,217 1,499,927
Share-based compensation 449,564 178,553 1,207,649 512,818
Total costs and expenses 4,095,445 2,696,136 11,817,440 9,709,343
Income (loss) from operations 1,186,343 (898,303) 2,496,687 (2,753,221)
Other income (expense):        
Interest income 392 1,412 1,163 25,313
Interest expense (129,422) (162,082) (450,474) (506,922)
Share redemption consideration (195,482) (195,482) (586,446) (586,446)
Foreign currency exchange (loss) gain (33,781) 20,014 (31,511) (95,976)
Change in fair value of interest rate swap liability   55,330 66,009 21,650
Other non-recurring income 25,000 15,320 25,000 15,320
Total other expense, net (333,293) (265,488) (976,259) (1,127,061)
Income (loss) before benefit (provision) for income taxes 853,050 (1,163,791) 1,520,428 (3,880,282)
Benefit (provision) for income taxes 21,186 (133,708) (7,000) 492,807
Net income (loss) 874,236 (1,297,499) 1,513,428 (3,387,475)
Foreign currency translation adjustment (81,716) (19,084) (139,716)  
Comprehensive income (loss) $ 792,520 $ (1,297,499) $ 1,373,712 $ (3,387,475)
Net income (loss) per share:        
Basic $ 0.04 $ (0.07) $ 0.07 $ (0.18)
Diluted $ 0.04 $ (0.07) $ 0.07 $ (0.18)
Weighted-average shares outstanding:        
Basic 20,410,950 19,745,525 20,315,730 18,675,769
Diluted 22,364,694 19,745,525 22,080,338 18,675,769
Licensing Fees        
Revenue:        
Total revenue $ 5,281,788 $ 1,797,833 $ 14,314,127 $ 6,956,122

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