XML 20 R5.htm IDEA: XBRL DOCUMENT v3.22.4
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Sales:      
Total Sales $ 11,835,882 $ 13,164,933 $ 11,581,496
Cost of Sales:      
Cost of Sales - Depreciation and Amortization 799,317 1,321,467 1,512,979
Total Cost of Sales 10,352,756 11,596,443 10,983,538
Gross Profit 1,483,126 1,568,490 597,958
Operating Expenses:      
Research and Development 12,676,688 11,674,954 7,568,074
Selling and Marketing 8,078,538 6,118,929 4,039,772
General and Administrative 21,038,562 22,502,833 6,915,213
Depreciation and Amortization 1,788,584 988,104 1,128,831
Loss on Fixed Asset Disposal 35,350 183,614 0
Impairment of Patents and Trademarks 97,675 80,163 73,532
Total Operating Expenses 43,715,397 41,548,597 19,725,422
Loss From Operations (42,232,271) (39,980,107) (19,127,464)
Other Income (Expense):      
Investment Income 1,395,579 53,511 41,120
Income and Other Taxes (212,997) (307,368) (103,833)
Foreign Exchange Loss (180,589) (143,196) (67,895)
Employee Retention Credit Refund 466,705    
Gain on Debt Extinguishment, net of Loss on Note Receivable     1,305,900
Total Other Income (Expense), Net 1,468,698 (397,053) 1,175,292
Loss Before Provision for Income Taxes (40,763,573) (40,377,160) (17,952,172)
Provision for Income Taxes
Net Loss (40,763,573) (40,377,160) (17,952,172)
Preferred Stock Dividends - Accrued not Paid     (2,056,150)
Loss Attributable to Common Stockholders $ (40,763,573) $ (40,377,160) $ (20,008,322)
Basic Loss per Common Share $ (0.64) $ (0.66) $ (0.53)
Diluted Loss per Common Share $ (0.64) $ (0.66) $ (0.53)
Weighted-average Shares Outstanding - Basic 63,708,986 61,125,215 38,109,765
Weighted-average Shares Outstanding - Diluted 63,708,986 61,125,215 38,109,765
Sales of Products      
Sales:      
Total Sales $ 10,505,763 $ 12,784,600 $ 10,081,209
Cost of Sales:      
Cost of Sales 8,737,852 9,709,268 7,914,686
Inventory Reserve for Obsolescence      
Cost of Sales:      
Cost of Sales 290,405 519,950 1,273,835
Sales of Engineering Services      
Sales:      
Total Sales 1,330,119 380,333 1,500,287
Cost of Sales:      
Cost of Sales $ 525,182 $ 45,758 $ 282,038