v3.20.2
Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Revenue:        
Total revenue $ 1,797,833 $ 5,371,646 $ 6,956,122 $ 16,117,583
Costs and expenses:        
Cost of ancillary products and assembled components 11,142 37,674 40,855 167,009
Selling, general and administrative 1,833,723 3,645,319 7,264,410 10,126,029
Research and development 97,081 208,253 391,333 685,693
Depreciation and amortization 575,637 476,112 1,499,927 1,439,220
Share-based compensation 178,553 242,016 512,818 678,199
Total costs and expenses 2,696,136 4,609,374 9,709,343 13,096,150
(Loss) income from operations (898,303) 762,272 (2,753,221) 3,021,433
Other income (expense):        
Interest income 1,412 25,326 25,313 45,891
Interest expense (162,082) (165,706) (506,922) (503,262)
Share redemption consideration (195,482) (195,482) (586,446) (315,293)
Foreign currency exchange gain (loss) 20,014 (69,470) (95,976) (57,299)
Change in estimated fair value of interest rate swap liability 55,330 13,162 21,650 (78,440)
Other non-recurring income 15,320   15,320  
Total other expense (265,488) (392,170) (1,127,061) (908,403)
(Loss) income before benefit (provision) for income taxes (1,163,791) 370,102 (3,880,282) 2,113,030
Benefit (provision) for income taxes (133,708) 210,132 492,807 (17,189)
Net (loss) income $ (1,297,499) $ 580,234 $ (3,387,475) $ 2,095,841
Net (loss) income per share:        
Basic $ (0.07) $ 0.03 $ (0.18) $ 0.07
Diluted $ (0.06) $ 0.03 $ (0.17) $ 0.07
Weighted-average shares outstanding:        
Basic 19,745,525 17,774,022 18,675,769 28,083,665
Diluted 20,475,085 19,102,709 19,483,464 29,672,645
Product Lease Royalties And Other        
Revenue:        
Total revenue $ 1,797,833 $ 5,371,646 $ 6,956,122 $ 16,117,583

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