v3.24.2.u1
Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
REVENUES (note 8)        
Total Revenues $ 15,160,513 $ 14,560,252 $ 28,801,653 $ 29,243,550
COST OF SALES        
Total Cost of Sales 7,300,939 7,145,807 14,185,308 13,995,996
GROSS PROFIT 7,859,574 7,414,445 14,616,345 15,247,554
OPERATING EXPENSES        
General and administrative 4,817,648 3,857,580 9,372,976 7,967,609
Research and development 300,578 192,864 615,069 467,253
Depreciation and amortization 149,808 140,093 299,668 282,981
Total Operating Expenses 5,268,034 4,190,537 10,287,713 8,717,843
INCOME FROM OPERATIONS 2,591,540 3,223,908 4,328,632 6,529,711
OTHER INCOME (EXPENSE)        
Gain on sale of property and equipment 92,068 181,343 136,889 234,418
Other expense 3,047 (36,866) (20,295) (46,423)
Interest income 83,347 123,654 155,244 181,701
Interest expense (2,657) (854) (5,602) (1,787)
Total Other Income 175,805 267,277 266,236 367,909
INCOME BEFORE INCOME TAXES 2,767,345 3,491,185 4,594,868 6,897,620
INCOME TAX EXPENSE (704,620) (634,028) (1,097,768) (1,450,842)
NET INCOME 2,062,725 2,857,157 3,497,100 5,446,778
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation gain (loss) (126,084) 278,328 (370,885) 272,804
Unrealized gains on investments 54,632 (30,416) 65,698 45,871
Total Other Comprehensive Income (Loss) (71,452) 247,912 (305,187) 318,675
COMPREHENSIVE INCOME $ 1,991,273 $ 3,105,069 $ 3,191,913 $ 5,765,453
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.04 $ 0.06 $ 0.07 $ 0.12
FULLY DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.04 $ 0.06 $ 0.07 $ 0.11
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) 47,119,403 47,393,768 47,002,139 47,284,749
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) 49,123,026 49,473,080 49,005,378 49,349,488
Product        
REVENUES (note 8)        
Total Revenues $ 13,725,996 $ 13,719,559 $ 26,417,800 $ 27,477,907
COST OF SALES        
Total Cost of Sales 6,441,389 6,386,849 12,536,394 12,491,024
Service        
REVENUES (note 8)        
Total Revenues 1,434,517 840,693 2,383,853 1,765,643
COST OF SALES        
Total Cost of Sales $ 859,550 $ 758,958 $ 1,648,914 $ 1,504,972

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