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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Sales, net $ 10,335,031 $ 23,061,285 $ 29,307,413 $ 82,140,204
Cost of sales:        
Total cost of sales 6,014,350 18,324,659 21,740,297 58,189,057
Gross profit 4,320,681 4,736,626 7,567,116 23,951,147
Operating expenses:        
Sales and marketing 1,368,112 1,174,675 4,263,735 3,258,435
Research and development 150,957 105,749 419,475 407,675
General and administrative 3,737,479 4,146,821 11,592,965 13,311,488
Total operating expenses 5,256,548 5,427,245 16,276,175 16,977,598
Income (loss) from operations (935,867) (690,619) (8,709,059) 6,973,549
Other income - TIA 1,447,975 861,850 4,479,773 1,954,404
Unrealized loss on debt and equity securities (6,538,568) (615,215) (11,298,207) (1,187,629)
Gain on sale of equity securities     5,574,791 (38,378)
Interest and other income 768,863 105,661 1,197,329 201,152
Interest expense (36,087) (40,273) (117,110) (125,746)
Income (loss) before income taxes (5,293,684) (378,596) (8,872,483) 7,815,730
Benefit for income taxes (1,233,188) (5,763,850) (1,934,393) (1,544,383)
Net income (loss) (4,060,496) 5,385,254 (6,938,090) 9,360,113
Preferred Stock dividend requirements (58,111) (58,111) (174,335) (174,333)
Net income (loss) applicable to common shareholders $ (4,118,607) $ 5,327,143 $ (7,112,425) $ 9,185,780
Basic earnings (loss) per share $ (0.14) $ 0.16 $ (0.24) $ 0.28
Diluted earnings (loss) per share $ (0.14) $ 0.16 $ (0.24) $ 0.28
Weighted average common shares outstanding:        
Basic (in shares) 29,937,159 32,936,959 29,937,159 33,049,411
Diluted (in shares) 29,937,159 33,229,866 29,937,159 33,358,225
Costs of manufactured product        
Cost of sales:        
Total cost of sales $ 5,219,962 $ 16,835,848 $ 19,522,722 $ 53,225,651
Royalty expense to shareholder        
Cost of sales:        
Total cost of sales $ 794,388 $ 1,488,811 $ 2,217,575 $ 4,963,406