XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.2
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Revenues $ 4,197,561 $ 3,392,538 $ 7,846,970 $ 7,286,985
Cost of sales 1,857,682 1,837,963 3,373,275 3,777,988
Gross Profit 2,339,879 1,554,575 4,473,695 3,508,997
Operating expenses:        
General and administrative 2,534,170 2,359,105 4,506,980 5,041,763
Research and development 810,990 1,082,007 1,547,401 2,212,236
Sales and marketing 1,062,345 653,931 1,489,486 1,189,354
Total operating expenses 4,407,505 4,095,043 7,543,867 8,443,353
Loss from operations (2,067,626) (2,540,468) (3,070,172) (4,934,356)
Other income (expense):        
Interest expense (49,859) (349,107) (107,388) (4,134,451)
Loss on debt extinguishment (125,242) 0 (125,242) 0
Gain on change in fair value of warrant liabilities 726,000 0 8,506,000 0
Gain (loss) on disposal of fixed assets 0 0 0 (13,988)
Other income (expense), net 236,351 (40,133) 576,465 (162,500)
Total other income (expense), net 787,250 (389,240) 8,849,835 (4,310,939)
Net income (loss) before provision for income taxes (1,280,376) (2,929,708) 5,779,663 (9,245,295)
Provision for income taxes 0 0 0 0
Net income (loss) (1,280,376) (2,929,708) 5,779,663 (9,245,295)
Accrued dividends on Series F Preferred Stock (52,038) (49,748) (119,688) (110,983)
Deemed dividends on Series F Preferred Stock and Warrants (3,677,811) (7,751) (4,734,143) (5,257,455)
Numerator for basic EPS - net income (loss) available to common stockholders $ (5,010,225) $ (2,987,207) $ 925,832 $ (14,613,733)
Net income (loss) per common share - basic (in dollars per share) $ (0.32) $ (12.06) $ 0.07 $ (71.01)
Net loss per common share - diluted (in dollars per share) $ (0.32) $ (12.06) $ (0.35) $ (71.01)
Denominator for basic EPS - weighted average shares (in shares) [1] 15,524,049 247,728 13,835,214 205,788
Weighted average number of shares outstanding during the period – Diluted (in shares) [1] 15,524,049 247,728 21,227,258 205,788
Comprehensive income (loss):        
Net income (loss) $ (1,280,376) $ (2,929,708) $ 5,779,663 $ (9,245,295)
Amortization of unrecognized periodic pension costs 0 0 107,565 0
Foreign currency cumulative translation adjustment 213,392 11,158 191,613 (152,495)
Total comprehensive income (loss), net of tax $ (1,066,984) $ (2,918,550) $ 6,078,841 $ (9,397,790)
[1] Adjusted for the effect of a 1 to 50 reverse stock split that became effective on October 14, 2024 (see Note 1)