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2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 30, 2020
Accounting Policies [Abstract] |
Net Income (Loss) Per Share |
|  | For the Three Months Ended September 30, (Unaudited) |
|  | 2020 |  |  | 2019 |
Net Income (Loss) |  | $ | 1,019,300 |  |  | $ | (236,813 | )
Adjustments for convertible debt - as converted |  |  |  |  |  |  |  |
Interest on convertible debt |  |  | - |  |  |  | 50,000 |
Amortization of debt discount on convertible debt |  |  | - |  |  |  | - |
Net income (loss) attributable to common shareholders |  | $ | 1,019,300 |  |  | $ | (186,813 | )
Weighted average number of shares of common stock outstanding: |  |  |  |  |  |  |  |
Basic |  |  | 16,741,622 |  |  |  | 15,588,680 |
Diluted |  |  | 18,593,255 |  |  |  | 15,588,680 |
Net income (loss) attributable to common shareholders per share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.06 |  |  | $ | (0.01 | )
Diluted |  | $ | 0.05 |  |  | $ | (0.01 | )
The following provides a reconciliation of the shares used in calculating the per share amounts for the periods presented:
|  | For the Three Months Ended September 30 (Unaudited) |
|  | 2020 |  |  | 2019 |
Numerator: |  |  |  |  |  |
Net Income (Loss) |  | $ | 1,019,300 |  |  | $ | (236,813 | )
Denominator: |  |  |  |  |  |  |  |
Basic weighted-average shares |  |  | 16,741,622 |  |  |  | 15,588,680 |
Effect of dilutive securities |  |  |  |  |  |  |  |
Warrants |  |  | 1,686,633 |  |  |  | - |
Convertible Debt |  |  | - |  |  |  | - |
Options |  |  | 101,250 |  |  |  | - |
Preferred Stock |  |  | 63,750 |  |  |  | - |
Diluted Weighted Average Shares |  |  | 18,593,255 |  |  |  | 15,588,680 |
Net Income (Loss) Per Common Share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.06 |  |  | $ | (0.02 | )
Diluted |  | $ | 0.05 |  |  | $ | (0.02 | )
Note: Warrants, options and preferred stock for the three months ended September 30, 2019 are not included in the computation of diluted weighted average shares as such inclusion would be anti-dilutive.
Income (loss) from Operations Data: |  |  |  |  |  |
Income (Loss) from Operations |  | $ | 1,096,328 |  |  | $ | (187,586 | )
Basic and Diluted Weighted Average Shares |  |  |  |  |  |  |  |
Basic |  |  | 16,741,922 |  |  |  | 15,588,680 |
Diluted |  |  | 18,593,255 |  |  |  | 15,588,680 |
Basic and Diluted Income (loss) Per Common Share |  |  |  |  |  |  |  |
Basic |  | $ | 0.07 |  |  | $ | (0.01 | )
Diluted |  | $ | 0.06 |  |  | $ | (0.01 | )
|  | For the Nine Months Ended September 30, (Unaudited) |
|  | 2020 |  |  | 2019 |
Net Income (Loss) |  | $ | 7,295,478 |  |  | $ | (1,756,050 | )
Adjustments for convertible debt - as converted |  |  |  |  |  |  |  |
Interest on convertible debt |  |  | 40,689 |  |  |  | 150,000 |
Amortization of debt discount on convertible debt |  |  | - |  |  |  | 17,534 |
Net income (loss) attributable to common shareholders |  | $ | 7,336,167 |  |  | $ | (1,588,516 | )
Weighted average number of shares of common stock outstanding: |  |  |  |  |  |  |  |
Basic |  |  | 16,429,360 |  |  |  | 15,585,822 |
Diluted |  |  | 18,280,993 |  |  |  | 15,585,822 |
Net income (loss) attributable to common shareholders per share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.45 |  |  | $ | (0.10 | )
Diluted |  | $ | 0.40 |  |  | $ | (0.10 | )
The following provides a reconciliation of the shares used in calculating the per share amounts for the periods presented:
|  | For the Nine Months Ended September 30 (Unaudited) |
|  | 2020 |  |  | 2019 |
Numerator: |  |  |  |  |  |
Net Income (Loss) |  | $ | 7,295,478 |  |  | $ | (1,756,050 | )
Denominator: |  |  |  |  |  |  |  |
Basic weighted-average shares |  |  | 16,429,360 |  |  |  | 15,585,822 |
Effect of dilutive securities |  |  |  |  |  |  |  |
Warrants |  |  | 1,686,633 |  |  |  | - |
Convertible Debt |  |  | - |  |  |  | - |
Options |  |  | 101,250 |  |  |  | - |
Preferred Stock |  |  | 63,750 |  |  |  | - |
Diluted Weighted Average Shares |  |  | 18,280,993 |  |  |  | 15,585,822 |
Net Income (Loss) Per Common Share: |  |  |  |  |  |  |  |
Basic |  | $ | 0.44 |  |  | $ | (0.11 | )
Diluted |  | $ | 0.40 |  |  | $ | (0.11 | )
Note: Warrants, options and preferred stock for the nine months ended September 30, 2019 are not included in the computation of diluted weighted average shares as such inclusion would be anti-dilutive.
Income (loss) from Operations Data: |  |  |  |  |  |
Income (Loss) from Operations |  | $ | 7,412,397 |  |  | $ | (1,590,948 | )
Basic and Diluted Weighted Average Shares |  |  |  |  |  |  |  |
Basic |  |  | 16,429,360 |  |  |  | 15,585,822 |
Diluted |  |  | 18,280,993 |  |  |  | 15,585,822 |
Basic and Diluted Income (loss) Per Common Share |  |  |  |  |  |  |  |
Basic |  | $ | 0.45 |  |  | $ | (0.10 | )
Diluted |  | $ | 0.41 |  |  | $ | (0.10 | )
Disaggregation of Revenue | Product and Service Revenue
|  | For the three months ended September 30, (Unaudited) |
|  | 2020 |  |  | 2019 |
SteraMist Product |  | $ | 3,677,000 |  |  | $ | 928,000 |
Service and Training |  |  | 615,000 |  |  |  | 672,000 |
Total |  | $ | 4,292,000 |  |  | $ | 1,600,000 |
|  | For the nine months ended September 30, (Unaudited) |
|  | 2020 |  |  | 2019 |
SteraMist Product |  | $ | 19,557,000 |  |  | $ | 3,461,000 |
Service and Training |  |  | 1,817,000 |  |  |  | 1,031,000 |
Total |  | $ | 21,374,000 |  |  | $ | 4,492,000 |
Revenue by Geographic Region
|  | For the three months ended September 30, (Unaudited) |
|  | 2020 |  |  | 2019 |
United States |  | $ | 3,446,000 |  |  | $ | 1,288,000 |
International |  |  | 846,000 |  |  |  | 312,000 |
Total |  | $ | 4,292,000 |  |  | $ | 1,600,000 |
|  | For the nine months ended September 30, (Unaudited) |
|  | 2020 |  |  | 2019 |
United States |  | $ | 15,437,000 |  |  | $ | 3,852,000 |
International |  |  | 5,937,000 |  |  |  | 640,000 |
Total |  | $ | 21,374,000 |  |  | $ | 4,492,000 |

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