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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenue $ 5,070,446 $ 3,305,534 $ 14,071,984 $ 11,961,062
Cost of Goods Sold 4,121,881 3,198,255 11,569,549 11,460,102
Gross Profit 948,565 107,279 2,502,435 500,960
Operating Expenses:        
Selling expenses 965,039 676,420 3,175,699 2,932,881
General and administrative expenses 1,253,779 1,429,315 3,690,211 4,611,375
Research and development expenses 428,600 283,524 1,131,003 1,377,097
Restructuring costs 0 (1,964) 0 1,786,863
Total Operating Expense 2,647,418 2,387,295 7,996,913 10,708,216
Loss from Operations (1,698,853) (2,280,016) (5,494,478) (10,207,256)
Other Income (Expense)        
Interest and other income 103,887 1,870 272,105 344,593
Interest expense (34,734) (28,514) (92,633) (394,532)
Amortization discount on Notes (86,447) (84,098) (257,765) (2,304,054)
Gain (Loss) on currency transactions 287,437 628,137 170,653 361,928
Gain on lease termination 0 (3,317) 0 150,258
Gain on sale of fixed assets 0 (19) 0 642
Total Other Income (Expense) 270,143 514,059 92,360 (1,841,165)
Loss Before Income Taxes (1,428,710) (1,765,957) (5,402,118) (12,048,421)
Income Tax Benefit 14,480 13,293 43,093 42,274
Net Loss $ (1,414,230) $ (1,752,664) $ (5,359,025) $ (12,006,147)
Basic and Diluted Loss Per Share (in dollars per share) $ (0.25) $ (0.32) $ (0.94) $ (2.95)
Basic and Diluted Weighted Average Common Shares Outstanding (in shares) 5,705,729 5,486,475 5,684,430 4,066,144