v3.23.3
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue:        
Total revenue $ 6,103,861 $ 5,906,989 $ 21,051,731 $ 17,501,783
Costs and expenses:        
Cost of ancillary products and assembled components 187,841 71,363 1,039,441 174,392
Selling, general and administrative 4,185,893 3,340,691 11,604,729 9,867,968
Research and development 226,405 127,774 632,830 478,866
Depreciation and amortization 567,628 740,069 1,639,104 2,189,789
Share-based compensation 225,971 329,140 716,029 954,550
Total costs and expenses 5,393,738 4,609,037 15,632,133 13,665,565
Income from operations 710,123 1,297,952 5,419,598 3,836,218
Other income (expense):        
Interest income 202,477 18,674 426,234 23,166
Interest expense (2,301,878) (1,896,865) (6,747,555) (5,281,322)
Foreign currency exchange gain (loss) (24,238) (255,140) (22,078) (490,041)
Other non-recurring (loss) income   (18,255)   (18,255)
Total other expense, net (2,123,639) (2,151,586) (6,343,399) (5,766,452)
Income (loss) before provision for income taxes (1,413,516) (853,634) (923,801) (1,930,234)
Net income (loss) (1,455,158) (698,690) (987,695) (1,828,293)
Foreign currency translation adjustment 21,493 (77,871) 12,850 (233,405)
Comprehensive income (loss) $ (1,433,665) $ (776,561) $ (974,845) $ (2,061,698)
Net income (loss) per share:        
Basic $ (0.06) $ (0.03) $ (0.04) $ (0.07)
Diluted $ (0.06) $ (0.03) $ (0.04) $ (0.07)
Weighted-average shares outstanding:        
Basic 24,479,301 24,945,839 25,229,971 24,654,517
Diluted 24,479,301 24,945,839 25,229,971 24,654,517
Licensing Fees        
Revenue:        
Total revenue $ 6,103,861 $ 5,906,989 $ 21,051,731 $ 17,501,783

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