v3.23.1
Condensed Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
REVENUES (note 8)    
Total Revenues $ 14,553,461 $ 9,503,140
COST OF SALES    
Total Cost of Sales 6,720,353 4,946,436
GROSS PROFIT 7,833,108 4,556,704
OPERATING EXPENSES    
General and administrative 4,047,969 3,392,379
Research and development 336,452 308,316
Depreciation and amortization 142,887 167,015
Total Operating Expenses 4,527,308 3,867,710
INCOME FROM OPERATIONS 3,305,800 688,994
OTHER INCOME (EXPENSE)    
Gain on sale of assets 53,075 95,842
Other expense (9,553) (18,081)
Interest income 58,047 21,545
Interest expense (933) (697)
Total Other Income 100,636 98,609
INCOME BEFORE INCOME TAXES 3,406,436 787,603
INCOME TAX EXPENSE (816,815) (160,442)
NET INCOME 2,589,621 627,161
OTHER COMPREHENSIVE INCOME (LOSS)    
Foreign currency translation gain (loss) (5,524) 158,359
Unrealized gains (losses) on investments 76,287 (287,126)
Total Other Comprehensive Income (Loss) 70,763 (128,767)
COMPREHENSIVE INCOME $ 2,660,384 $ 498,394
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.05 $ 0.01
FULLY DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.05 $ 0.01
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) 47,174,518 47,481,439
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) 48,612,833 48,536,418
Product    
REVENUES (note 8)    
Total Revenues $ 13,628,512 $ 8,878,423
COST OF SALES    
Total Cost of Sales 5,974,339 4,382,700
Service    
REVENUES (note 8)    
Total Revenues 924,949 624,717
COST OF SALES    
Total Cost of Sales $ 746,014 $ 563,736

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