XML 47 R4.htm IDEA: XBRL DOCUMENT v3.19.3
STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Statement [Abstract]        
SALES, NET $ 6,758,367 $ 5,461,039 $ 17,547,990 $ 15,814,950
COST OF SALES 2,694,345 1,918,868 6,704,974 5,660,429
GROSS PROFIT 4,064,022 3,542,171 10,843,016 10,154,521
OPERATING EXPENSES:        
Sales and marketing 1,860,537 1,699,236 5,542,123 4,867,687
General and administrative 929,158 869,993 2,865,697 2,662,643
Total operating expenses 2,789,695 2,569,229 8,407,820 7,530,330
INCOME FROM OPERATIONS 1,274,327 972,942 2,435,196 2,624,191
OTHER INCOME (EXPENSE)        
Interest income 25,268 1,964 35,554 10,968
Interest expense (110,547) (119,270) (332,049) (354,272)
Other income/(expense), net (18,060) 25,967 103,040 164,009
INCOME BEFORE INCOME TAXES 1,170,988 881,603 2,241,741 2,444,896
INCOME TAX PROVISION (318,788) (239,966) (603,154) (669,549)
NET INCOME 852,200 641,637 1,638,587 1,775,347
Accrued preferred stock dividends (256,452) (256,438) (769,357) (767,770)
INCOME APPLICABLE TO COMMON SHAREHOLDERS $ 595,748 $ 385,199 $ 869,230 $ 1,007,577
Income per common share after preferred dividends $ 0.12 $ 0.08 $ 0.18 $ .20
Weighted average number of common shares outstanding 4,964,529 4,964,529 4,964,529 4,964,529