Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.21.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues        
Revenues $ 2,311,548 $ 3,180,173 $ 7,561,966 $ 10,496,827
Cost of revenues 1,008,703 943,292 3,322,639 3,742,615
Gross profit 1,302,845 2,236,881 4,239,327 6,754,212
Operating expenses        
General and administrative 1,245,085 889,032 3,491,855 3,138,744
Sales and marketing 978,968 445,273 2,987,411 1,748,892
Engineering, research, and development 678,209 621,442 2,076,194 2,820,525
Impairment of intangible assets     8,286  
Depreciation and amortization 182,663 176,127 524,474 534,972
Total operating expenses 3,084,925 2,131,874 9,088,220 8,243,133
Income (loss) from operations (1,782,080) 105,007 (4,848,893) (1,488,921)
Other income/(expense)        
Interest income   309 5 1,220
Other Income 891,103   891,103  
Interest expense (88,331) (62,621) (144,714) (207,899)
Impairment of intangible assets   (3,481)   (3,481)
Loss on disposal of fixed assets     (880) (3,935)
Foreign currency gain (loss) (4,329) 247 (6,577) 1,345
Total other income/(expense) 798,443 (65,546) 738,937 (212,750)
Income (loss) before income taxes (983,637) 39,461 (4,109,956) (1,701,671)
Income tax expense
Net income (loss) (983,637) 39,461 (4,109,956) (1,701,671)
Other comprehensive Income (loss), net of income tax        
Foreign currency translation adjustments (13,150) 30,145 (22,391) (9,072)
Comprehensive Income (loss) $ (996,787) $ 69,606 $ (4,132,347) $ (1,710,743)
Net loss per share:        
Basic $ (0.02)   $ (0.07) $ (0.03)
Diluted $ (0.02)   $ (0.07) $ (0.03)
Weighted average number of shares:        
Basic 55,410,695 51,617,612 55,410,695 51,555,837
Diluted 55,410,695 61,106,633 55,410,695 51,555,837