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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
Jun. 30, 2019
Jun. 30, 2018
Sales, net $ 9,595,890 $ 7,474,993 $ 17,528,364 $ 15,147,794
Cost of sales        
Total cost of sales 6,664,533 5,406,974 12,106,688 10,220,179
Gross profit 2,931,357 2,068,019 5,421,676 4,927,615
Operating expenses        
Sales and marketing 979,614 1,052,475 1,855,160 2,217,936
Research and development 115,506 141,465 242,962 285,692
General and administrative 1,507,434 1,812,764 3,169,529 3,519,645
Total operating expenses 2,602,554 3,006,704 5,267,651 6,023,273
Income (loss) from operations 328,803 (938,685) 154,025 (1,095,658)
Interest and other income 109,939 34,692 201,371 62,843
Interest expense (43,509) (43,573) (89,384) (93,965)
Income (loss) before income taxes 395,233 (947,566) 266,012 (1,126,780)
Provision for income taxes 3,481 140 3,481 210
Net income (loss) 391,752 (947,706) 262,531 (1,126,990)
Preferred stock dividend requirements (175,456) (176,249) (351,705) (352,498)
Income (loss) applicable to common shareholders $ 216,296 $ (1,123,955) $ (89,174) $ (1,479,488)
Basic income (loss) per share (in dollars per share) $ 0.01 $ (0.03) $ 0.00 $ (0.05)
Diluted income (loss) per share (in dollars per share) $ 0.01 $ (0.03) $ 0.00 $ (0.05)
Weighted average common shares outstanding:        
Basic (in shares) 32,673,537 32,666,454 32,669,996 32,666,454
Diluted (in shares) 32,673,537 32,666,454 32,669,996 32,666,454
Costs of manufactured product        
Cost of sales        
Total cost of sales $ 5,738,025 $ 4,727,686 $ 10,514,769 $ 8,908,696
Royalty expense to shareholder        
Cost of sales        
Total cost of sales $ 926,508 $ 679,288 $ 1,591,919 $ 1,311,483