XML 18 R5.htm IDEA: XBRL DOCUMENT v3.24.1.u1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Sales:      
Total Sales $ 12,129,139 $ 11,835,882 $ 13,164,933
Cost of Sales:      
Cost of Sales - Depreciation and Amortization 886,117 799,317 1,321,467
Total Cost of Sales 14,763,869 10,352,756 11,596,443
Gross Profit (Loss) (2,634,730) 1,483,126 1,568,490
Operating Expenses:      
Research and Development 12,339,534 12,676,688 11,674,954
Selling and Marketing 12,711,800 8,078,538 6,118,929
General and Administrative 18,592,185 21,038,562 22,502,833
Depreciation and Amortization 3,844,428 1,788,584 988,104
Loss on Goodwill and Other Intangible Asset Impairment 2,136,993    
Loss on Fixed Asset Disposal 0 35,350 183,614
Impairment of Patents and Trademarks 41,869 97,675 80,163
Total Operating Expenses 49,666,809 43,715,397 41,548,597
Loss From Operations (52,301,539) (42,232,271) (39,980,107)
Other Income (Expense):      
Investment Income 2,219,226 1,395,579 53,511
Income and Other Taxes (230,973) (212,997) (307,368)
Foreign Exchange Loss (44,062) (180,589) (143,196)
Utility Improvement Refund/Employee Retention Credit Refund 208,271 466,705  
Total Other Income, Net 2,152,462 1,468,698 (397,053)
Loss Before Provision for Income Taxes (50,149,077) (40,763,573) (40,377,160)
Provision for Income Taxes
Net Loss $ (50,149,077) $ (40,763,573) $ (40,377,160)
Basic Loss per Common Share $ (0.79) $ (0.64) $ (0.66)
Diluted Loss per Common Share $ (0.79) $ (0.64) $ (0.66)
Weighted-average Shares Outstanding - Basic 63,432,422 63,708,986 61,125,215
Weighted-average Shares Outstanding - Diluted 63,432,422 63,708,986 61,125,215
Sales of Products      
Sales:      
Total Sales $ 10,760,352 $ 10,505,763 $ 12,784,600
Cost of Sales:      
Cost of Goods and Services Sold 8,839,279 8,737,852 9,709,268
Inventory Reserve for Obsolescence      
Cost of Sales:      
Cost of Goods and Services Sold 4,358,062 290,405 519,950
Sales of Engineering Services      
Sales:      
Total Sales 1,368,787 1,330,119 380,333
Cost of Sales:      
Cost of Goods and Services Sold $ 680,411 $ 525,182 $ 45,758