Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Loss

v3.22.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Revenues    
Revenues $ 8,174,884 $ 13,255,887
Cost of revenues 4,302,370 4,748,444
Gross profit 3,872,514 8,507,443
Operating expenses    
Bad Debt 774,312  
General and administrative 3,584,721 3,917,935
Sales and marketing 4,002,565 2,325,709
Engineering, research, and development 3,583,773 3,535,742
Goodwill impairment 85,169  
Intangible asset impairment 8,286 8,886
Depreciation and amortization 707,073 674,942
Total operating expenses 12,745,899 10,463,214
Loss from operations (8,873,385) (1,955,771)
Other income/(expense)    
Interest income 5 1,221
Gain on Extinguishment of Debt 891,103  
Interest expense (267,966) (286,896)
Loss on disposal of fixed assets (880) (8,808)
Loss on settlement of debt   (668,260)
Foreign currency gain (loss) (8,661) 117
Total other income (expense) 613,601 (962,626)
Loss before income taxes (8,259,784) (2,918,397)
Income tax expense
Net Loss (8,259,784) (2,918,397)
Other comprehensive Income (loss), net of income tax    
Foreign currency translation adjustments (28,642) (32,226)
Comprehensive loss $ (8,288,426) $ (2,950,623)
Net loss per share:    
Basic and Diluted $ (0.15) $ (0.06)
Weighted average number of shares:    
Basic and Diluted 55,410,695 51,575,454