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v3.20.1

Consolidated Statements of Income - USD ($) | 12 Months Ended
--- | ---
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017
REVENUE |  |  |
Revenue | $ 3,072,987 | $ 3,275,753 | $ 1,248,477
OPERATING EXPENSES |  |  |
Operations and research | 7,927,831 | 3,688,560 | 3,438,389
Gain on sale of marine assets | 0 |  |
Marketing, general and administrative | 5,491,849 | 5,654,409 | 6,167,181
Total operating expenses | 13,419,680 | 9,342,969 | 9,605,570
LOSS FROM OPERATIONS | (10,346,693) | (6,067,216) | (8,357,093)
OTHER INCOME OR (EXPENSE) |  |  |
Interest income | 151 | 56,408 | 112
Interest expense | (5,360,192) | (3,142,280) | (2,727,235)
Gain (loss) on debt extinguishment | (290,024) |  |
Change in derivative liabilities fair value | (322,485) |  |
Other | 819,517 | 48,803 | 63,074
Total other income or (expense) | (5,153,033) | (3,037,069) | (2,664,049)
LOSS BEFORE INCOME TAXES | (15,499,726) | (9,104,285) | (11,021,142)
Income tax benefit (provision) | 0 | 0 | 0
NET (LOSS) BEFORE NON-CONTROLLING INTEREST | (15,499,726) | (9,104,285) | (11,021,142)
Non-controlling interest | 5,059,765 | 3,931,849 | 3,261,670
NET (LOSS) | $ (10,439,961) | $ (5,172,436) | $ (7,759,472)
LOSS PER SHARE |  |  |
Basic and diluted | $ (1.12) | $ (0.60) | $ (0.95)
Weighted average number of common shares outstanding |  |  |
Basic and diluted | 9,346,213 | 8,583,795 | 8,209,539
Marine Services [Member] |  |  |
REVENUE |  |  |
Revenue | $ 1,984,316 | $ 2,439,997 | $ 1,236,623
Product and Service, Other [Member] |  |  |
REVENUE |  |  |
Revenue | $ 1,088,671 | $ 835,756 | $ 11,854

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