Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v3.21.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenues    
Revenues $ 13,255,887 $ 10,056,922
Cost of revenues 4,748,444 5,938,298
Gross profit 8,507,443 4,118,624
Operating expenses    
General and administrative 3,917,935 5,588,329
Sales and marketing 2,325,709 2,707,356
Engineering, research, and development 3,535,742 3,609,968
Intangible asset impairment 8,886  
Depreciation and amortization 674,942 600,066
Total operating expenses 10,463,214 12,505,719
Loss from operations (1,955,771) (8,387,095)
Other income/(expense)    
Interest income 1,221 28,160
Interest expense (286,896) (236,706)
Loss on disposal of fixed assets (8,808)  
Loss on settlement of debt (668,260) (232,462)
Foreign currency gain (loss) 117 6,129
Total other expense (962,626) (434,879)
Loss before income taxes (2,918,397) (8,821,974)
Income tax expense
Net Loss (2,918,397) (8,821,974)
Other comprehensive income (loss), net of income tax    
Foreign currency translation adjustments (32,226) 4,021
Comprehensive loss $ (2,950,623) $ (8,817,953)
Net income (loss) per share:    
Basic and Diluted $ (0.06) $ (0.18)
Weighted average number of shares:    
Basic and Diluted 51,575,454 47,720,507