Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Income and Comprehensive Income

v3.7.0.1
Condensed Consolidated Statements of Income and Comprehensive Income - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Dec. 31, 2016
Revenues      
Revenues $ 2,113,283 $ 1,845,240  
Cost of revenues 557,388 404,940  
Gross profit 1,555,895 1,440,300  
Operating expenses      
General and administrative 1,015,418 1,062,953  
Sales and marketing 1,208,785 1,248,412  
Engineering, research, and development 589,322 349,098  
Depreciation and amortization 68,746 146,388  
Total operating expenses 2,882,271 2,806,851  
Loss from operations (1,326,376) (1,366,551)  
Other income/(expense)      
Interest income 904 368  
Interest expense (21,106) (7,593)  
Foreign currency (loss) gain (2,648) 14,550  
Total other income/(expense) (22,850) 7,325  
Loss before income taxes (1,349,226) (1,359,226)  
Income tax expense  
Net loss (1,349,226) (1,359,226) $ (9,514,461)
Other comprehensive loss, net of income tax      
Foreign currency translation adjustments (5,221) (63,219) $ (32,999)
Comprehensive loss $ (1,354,447) $ (1,422,445)  
Net loss per share - basic and diluted $ (0.04) $ (0.05)  
Weighted average number of shares during the period - basic and diluted 36,388,997 29,778,439