v3.23.2
Condensed Consolidated Statements of Income and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
REVENUES (note 8)        
Total Revenues $ 14,443,577 $ 9,633,147 $ 28,997,039 $ 19,136,287
COST OF SALES        
Total Cost of Sales 7,029,132 5,230,002 13,749,485 10,176,438
GROSS PROFIT 7,414,445 4,403,145 15,247,554 8,959,849
OPERATING EXPENSES        
General and administrative 3,792,127 3,786,561 7,840,093 7,178,938
Research and development 258,317 362,197 594,769 670,512
Depreciation and amortization 140,093 159,580 282,981 326,597
Total Operating Expenses 4,190,537 4,308,338 8,717,843 8,176,047
INCOME FROM OPERATIONS 3,223,908 94,807 6,529,711 783,802
OTHER INCOME (EXPENSE)        
Gain on sale of assets 181,343 214,841 234,418 310,683
Other expense (36,866) (337) (46,423) (18,420)
Interest income 123,654 20,307 181,701 41,852
Interest expense (854) (17,612) (1,787) (18,308)
Total Other Income 267,277 217,199 367,909 315,807
INCOME BEFORE INCOME TAXES 3,491,185 312,006 6,897,620 1,099,609
INCOME TAX EXPENSE (634,028) (27,177) (1,450,842) (187,619)
NET INCOME 2,857,157 284,829 5,446,778 911,990
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation gain (loss) 278,328 (290,291) 272,804 (131,933)
Unrealized gains (losses) on investments (30,416) (134,662) 45,871 (421,788)
Total Other Comprehensive Income (Loss) 247,912 (424,953) 318,675 (553,721)
COMPREHENSIVE INCOME $ 3,105,069 $ (140,124) $ 5,765,453 $ 358,269
BASIC EARNINGS PER SHARE (in dollars per share) $ 0.06 $ 0.01 $ 0.12 $ 0.02
FULLY DILUTED EARNINGS PER SHARE (in dollars per share) $ 0.06 $ 0.01 $ 0.11 $ 0.02
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) 47,393,768 47,092,275 47,284,749 47,285,782
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) 49,473,080 48,699,208 49,349,488 48,865,186
Product        
REVENUES (note 8)        
Total Revenues $ 13,602,884 $ 8,860,682 $ 27,231,396 $ 17,739,105
COST OF SALES        
Total Cost of Sales 6,270,174 4,530,065 12,244,513 8,912,764
Service        
REVENUES (note 8)        
Total Revenues 840,693 772,465 1,765,643 1,397,182
COST OF SALES        
Total Cost of Sales $ 758,958 $ 699,937 $ 1,504,972 $ 1,263,674

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