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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenue $ 2,478,221 $ 5,070,446 $ 11,198,627 $ 14,071,984
Cost of goods sold 2,687,754 4,121,881 10,419,847 11,569,549
Gross Profit (Loss) (209,533) 948,565 778,780 2,502,435
Operating Expenses:        
Selling expenses 610,713 965,039 1,983,414 3,175,699
General and administrative expenses 1,491,366 1,253,779 4,577,413 3,690,211
Research and development expenses 278,361 428,600 940,465 1,131,003
Total Operating Expense 2,380,440 2,647,418 7,501,292 7,996,913
Loss from Operations (2,589,973) (1,698,853) (6,722,512) (5,494,478)
Other Income (Expense)        
Interest and other income 24,079 103,887 138,909 272,105
Interest expense (34,523) (34,734) (135,532) (92,633)
Amortization of debt discount (156,988) (86,447) (453,619) (257,765)
Gain (Loss) on currency transactions (89,086) 287,437 250,912 170,653
Gain (Loss) on disposal of property and equipment (4,096) 0 (457,329) 0
Total Other Income (Expense) (260,614) 270,143 (656,659) 92,360
Loss Before Income Taxes (2,850,587) (1,428,710) (7,379,171) (5,402,118)
Income tax benefit (10,061) (14,480) (38,650) (43,093)
Net Income (Loss) $ (2,840,526) $ (1,414,230) $ (7,340,521) $ (5,359,025)
Loss Per Common Share – Basic and Diluted (in dollars per share) $ (0.49) $ (0.25) $ (1.26) $ (0.94)
Weighted-Average Common Shares Outstanding – Basic and Diluted (in shares) 5,820,225 5,705,729 5,811,051 5,684,430