Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited)

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Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Revenue:    
Total revenue $ 8,001,066 $ 7,422,534
Costs and expenses:    
Cost of ancillary products and assembled components 406,380 352,010
Selling, general and administrative 4,204,828 3,784,657
Research and development 251,886 206,760
Depreciation and amortization 686,193 576,342
Stock-based compensation 141,242 244,923
Total costs and expenses 5,690,529 5,164,692
Income from operations 2,310,537 2,257,842
Other income (expense):    
Interest income 201,866 84,750
Interest expense (2,289,347) (2,203,635)
Foreign currency exchange gain (loss) 12,177 (22,688)
Total other expense, net (2,075,304) (2,141,573)
Income before provision for income taxes 235,233 116,269
(Provision) for income taxes (26,325) (5,575)
Net income 208,908 110,694
Foreign currency translation adjustment (30,394) 16,637
Comprehensive income $ 178,514 $ 127,331
Net income per share:    
Basic $ 0.01 $ 0
Diluted $ 0.01 $ 0
Weighted-average shares outstanding:    
Basic 24,857,480 25,189,722
Diluted 24,884,672 25,437,374
Licensing Fees    
Revenue:    
Total revenue $ 8,001,066 $ 7,422,534