v3.22.2.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUES (note 8)        
Total Revenues $ 12,829,338 $ 6,943,198 $ 31,965,625 $ 18,069,830
COST OF SALES        
Total Cost of Sales 6,710,462 3,823,730 16,886,900 10,117,943
GROSS PROFIT 6,118,876 3,119,468 15,078,725 7,951,887
OPERATING EXPENSES        
General and administrative 3,413,048 2,980,945 10,591,986 8,319,353
Research and development 435,059 290,657 1,105,571 848,993
Depreciation and amortization 152,876 166,155 479,473 500,492
Total Operating Expenses 4,000,983 3,437,757 12,177,030 9,668,838
INCOME (LOSS) FROM OPERATIONS 2,117,893 (318,289) 2,901,695 (1,716,951)
OTHER INCOME (EXPENSE)        
Gain on sale of assets 12,887 31,685 323,570 144,078
Other income (expense) (6,839) (2,984) (43,567) 1,755
Interest income 45,107 33,067 86,959 82,698
Total Other Income 51,155 61,768 366,962 228,531
INCOME (LOSS) BEFORE INCOME TAXES 2,169,048 (256,521) 3,268,657 (1,488,420)
INCOME TAX BENEFIT (EXPENSE) (958,300) 348,767 (1,145,919) 582,000
NET INCOME (LOSS) 1,210,748 92,246 2,122,738 (906,420)
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation gain (loss) (591,282) (263,908) (723,209) 39,183
Unrealized gains (losses) on investments (172,802) (20,811) (594,596) 26,744
Total Other Comprehensive Income (Loss) (764,084) (284,719) (1,317,805) 65,927
COMPREHENSIVE INCOME (LOSS) $ 446,664 $ (192,473) $ 804,933 $ (840,493)
BASIC EARNINGS (LOSS) PER SHARE (in dollars per share) $ 0.03 $ 0 $ 0.04 $ (0.02)
FULLY DILUTED EARNINGS (LOSS) PER SHARE (in dollars per share) $ 0.02 $ 0 $ 0.04 $ (0.02)
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) 47,036,012 48,239,236 47,201,611 48,095,404
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) 48,558,207 49,328,808 48,761,346 48,095,404
Product        
REVENUES (note 8)        
Total Revenues $ 11,895,881 $ 6,296,736 $ 29,634,986 $ 16,328,810
COST OF SALES        
Total Cost of Sales 5,960,311 3,217,655 14,873,075 8,666,168
Service        
REVENUES (note 8)        
Total Revenues 933,457 646,462 2,330,639 1,741,020
COST OF SALES        
Total Cost of Sales $ 750,151 $ 606,075 $ 2,013,825 $ 1,451,775

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