v3.21.1
Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2021
Mar. 31, 2020
Revenue:    
Total revenue $ 4,282,901 $ 4,494,318
Costs and expenses:    
Cost of ancillary products and assembled components 14,304 21,812
Selling, general and administrative 2,711,052 2,992,052
Research and development 118,701 155,653
Depreciation and amortization 717,254 469,805
Share-based compensation 316,640 157,596
Total costs and expenses 3,877,951 3,796,918
Income from operations 404,950 697,400
Other income (expense):    
Interest income 382 21,774
Interest expense (180,910) (167,671)
Share redemption consideration (195,482) (195,482)
Foreign currency exchange loss (8,975) (127,291)
Change in estimated fair value of interest rate swap liability 49,822 (76,163)
Total other expense (335,163) (544,833)
Income before benefit (provision) for income taxes 69,787 152,567
Benefit (provision) for income taxes 18,950 (35,962)
Net income 88,737 116,605
Foreign currency translation adjustment (79,207)  
Comprehensive income $ 9,530 $ 116,605
Net income per share:    
Basic $ 0.00 $ 0.01
Diluted $ 0.00 $ 0.01
Weighted-average shares outstanding:    
Basic 18,838,221 18,022,761
Diluted 20,173,443 19,239,294
Licensing Fees    
Revenue:    
Total revenue $ 4,282,901 $ 4,494,318

Source