Condensed Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
| Revenues | ||||
| Revenues | $ 2,434,841 | $ 1,366,239 | $ 4,851,436 | $ 5,059,567 |
| Cost of revenues | 1,626,823 | 756,130 | 2,798,649 | 1,549,519 |
| Gross profit | 808,018 | 610,109 | 2,052,787 | 3,510,048 |
| Operating expenses | ||||
| General and administrative | 1,581,266 | 770,591 | 2,726,502 | 2,018,934 |
| Sales and marketing | 802,050 | 792,263 | 1,559,192 | 2,253,843 |
| Engineering, research, and development | 761,320 | 422,660 | 1,739,428 | 1,954,258 |
| Goodwill impairment | 0 | 0 | 0 | 0 |
| Depreciation and amortization | 148,391 | 98,728 | 307,481 | 195,698 |
| Total operating expenses | 3,293,027 | 2,084,242 | 6,332,603 | 6,422,733 |
| Income (loss) from operations | (2,485,009) | (1,474,133) | (4,279,816) | (2,912,685) |
| Other income/(expense) | ||||
| Interest income | 0 | 146 | 17 | 602 |
| Interest expense | (89,855) | (109,635) | (130,992) | (167,124) |
| Gain on sale of fixed assets | 0 | 0 | 0 | (8,722) |
| Foreign currency (loss) gain | (35) | (1,290) | (856) | (1,620) |
| Total other income/(expense) | (89,890) | (110,779) | (131,831) | (176,864) |
| Income (loss) before income taxes | (2,574,899) | (1,584,912) | (4,411,647) | (3,089,549) |
| Income tax expense | 0 | 0 | 0 | 0 |
| Net Income (loss) | (2,574,899) | (1,584,912) | (4,411,647) | (3,089,549) |
| Other comprehensive income (loss), net of income tax | ||||
| Foreign currency translation adjustments | 6,136 | 69,710 | (17,554) | 57,097 |
| Comprehensive income (loss) | $ (2,568,763) | $ (1,515,202) | $ (4,429,201) | $ (3,032,452) |
| Net income (loss) per share: | ||||
| Basic | $ (0.06) | $ (0.04) | $ (0.1) | $ (0.08) |
| Weighted average number of shares: | ||||
| Basic | 45,998,053 | 38,018,733 | 45,998,053 | 37,952,427 |
| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before tax of foreign currency transaction realized and unrealized gain (loss) recognized in the income statement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of loss from the write-down of an asset representing the future economic benefits arising from other assets acquired in a business combination that are not individually identified and separately recognized. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount before accretion (amortization) of purchase discount (premium) of interest income on nonoperating securities. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature, attributable to parent entity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The aggregate total amount of expenses directly related to the marketing or selling of products or services. No definition available.
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- References No definition available.
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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