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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Revenues $ 4,485,062 $ 4,990,019 $ 8,720,406 $ 9,001,538
Cost of goods sold 3,767,851 3,827,491 7,732,093 7,447,668
Gross Profit 717,211 1,162,528 988,313 1,553,870
Operating Expenses:        
Selling expenses 855,122 1,028,225 1,372,701 2,210,660
General and administrative expenses 1,541,316 1,377,483 3,086,047 2,436,432
Research and development expenses 407,292 359,784 662,104 702,403
Total Operating Expenses 2,803,730 2,765,492 5,120,852 5,349,495
Loss from Operations (2,086,519) (1,602,964) (4,132,539) (3,795,625)
Other Income (Expense)        
Interest and other income 45,744 116,545 114,830 168,218
Interest expense (29,290) (45,898) (101,009) (57,899)
Amortization of debt discount (150,591) (86,790) (296,631) (171,318)
Gain (loss) on currency transactions 84,462 49,494 339,998 (116,784)
Gain (loss) on disposal of property and equipment 10,344 0 (453,233) 0
Total Other Income (Expense) (39,331) 33,351 (396,045) (177,783)
Loss Before Income Taxes (2,125,850) (1,569,613) (4,528,584) (3,973,408)
Income tax benefit 14,150 14,321 28,589 28,613
Net Loss $ (2,111,700) $ (1,555,292) $ (4,499,995) $ (3,944,795)
Loss Per Common Share – Basic and Diluted (in dollars per share) $ (0.36) $ (0.27) $ (0.77) $ (0.7)
Weighted-Average Common Shares Outstanding – Basic and Diluted (in shares) 5,808,127 5,660,007 5,806,480 5,656,809