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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Sales, net $ 14,336,569 $ 42,496,944 $ 59,078,919 $ 92,570,669
Cost of sales:        
Total cost of sales 10,689,969 22,853,762 39,864,398 44,932,700
Gross profit 3,646,600 19,643,182 19,214,521 47,637,969
Operating expenses:        
Sales and marketing 1,065,877 1,447,430 2,083,761 2,378,661
Research and development 206,388 399,042 301,926 548,325
General and administrative 4,436,186 5,121,885 9,164,667 8,615,121
Total operating expenses 5,708,451 6,968,357 11,550,354 11,542,107
Income (loss) from operations (2,061,851) 12,674,825 7,664,167 36,095,862
Gain on forgiveness of PPP loan   1,377,652   1,377,652
Other income - TIA 737,465   1,092,554  
Unrealized gain (loss) on equity securities (3,903,523) 85,752 (572,414) 1,189,724
Interest and other income 60,579 52,480 95,491 143,287
Interest expense (38,368) (54,687) (85,473) (119,782)
Income (loss) before income taxes (5,205,698) 14,136,022 8,194,325 38,686,743
Provision (benefit) for income taxes (1,564,101) 3,473,897 4,219,467 10,068,734
Net income (loss) (3,641,597) 10,662,125 3,974,858 28,618,009
Preferred Stock dividend requirements (58,111) (59,170) (116,222) (124,108)
Net income (loss) applicable to common shareholders $ (3,699,708) $ 10,602,955 $ 3,858,636 $ 28,493,901
Basic earnings (loss) per share $ (0.11) $ 0.31 $ 0.12 $ 0.84
Diluted earnings (loss) per share $ (0.11) $ 0.31 $ 0.12 $ 0.83
Weighted average common shares outstanding:        
Basic (in shares) 32,945,821 34,000,771 33,105,637 33,984,271
Diluted (in shares) 33,256,588 34,376,335 33,426,429 34,365,092
Costs of manufactured product        
Cost of sales:        
Total cost of sales $ 9,783,565 $ 20,253,357 $ 36,389,803 $ 39,410,698
Royalty expense to shareholder        
Cost of sales:        
Total cost of sales $ 906,404 $ 2,600,405 $ 3,474,595 $ 5,522,002