v3.21.2
Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
REVENUES (note 8)        
Total Revenues $ 6,034,283 $ 4,359,479 $ 11,126,632 $ 11,806,621
COST OF SALES        
Total Cost of Goods Sold 3,376,551 2,272,614 6,294,213 6,555,080
GROSS PROFIT 2,657,732 2,086,865 4,832,419 5,251,541
OPERATING EXPENSES        
General and administrative expenses 2,783,872 2,753,773 5,338,408 6,026,311
Research and development 301,445 229,548 558,336 639,274
Depreciation and amortization expense 166,852 180,997 334,337 328,469
Total Operating Expenses 3,252,169 3,164,318 6,231,081 6,994,054
LOSS FROM OPERATIONS (594,437) (1,077,453) (1,398,662) (1,742,513)
OTHER INCOME (EXPENSE)        
Gain on sale of fixed assets 38,492 157,455 112,393 157,455
Other income (expense) 4,836 (1,665) 4,739 (1,318)
Interest income 28,569 77,532 49,631 151,925
Total Other Income 71,897 233,322 166,763 308,062
LOSS BEFORE INCOME TAXES (522,540) (844,131) (1,231,899) (1,434,451)
INCOME TAX BENEFIT 125,374 35,628 233,233 260,684
NET LOSS (397,166) (808,503) (998,666) (1,173,767)
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation gain (loss) 163,485 375,267 303,091 (570,156)
Unrealized gains (losses) on investments 55,529 72,875 47,555 (84,479)
Total Other Comprehensive Income (Loss) 219,014 448,142 350,646 (654,635)
COMPREHENSIVE LOSS $ (178,152) $ (360,361) $ (648,020) $ (1,828,402)
BASIC LOSS PER SHARE (in dollars per share) $ (0.01) $ (0.02) $ (0.02) $ (0.02)
FULLY DILUTED LOSS PER SHARE (in dollars per share) $ (0.01) $ (0.02) $ (0.02) $ (0.02)
BASIC WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) 48,054,136 47,723,208 48,022,295 47,607,825
FULLY DILUTED WEIGHTED AVG NUMBER OF SHARES OUTSTANDING (in shares) 48,054,136 47,723,208 48,022,295 47,607,825
Product        
REVENUES (note 8)        
Total Revenues $ 5,374,539 $ 3,999,139 $ 10,032,074 $ 10,860,097
COST OF SALES        
Total Cost of Goods Sold 2,910,879 1,944,389 5,448,513 5,778,071
Service        
REVENUES (note 8)        
Total Revenues 659,744 360,340 1,094,558 946,524
COST OF SALES        
Total Cost of Goods Sold $ 465,672 $ 328,225 $ 845,700 $ 777,009

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