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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables) | 9 Months Ended
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Sep. 30, 2021
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES |
Net Income (Loss) Per Share |
|  | For the Three Months Ended September 30, (Unaudited) |
|  | 2021 |  |  | 2020 |
Net Income (Loss) |  | $ | (486,558 | ) |  | $ | 1,019,300 |
Net income (loss) attributable to common shareholders |  | $ | (486,558 | ) |  | $ | 1,019,300 |
Weighted average number of shares of common stock outstanding: |  |  |  |  |  |  |  |
Basic |  |  | 16,843,045 |  |  |  | 16,741,622 |
Diluted |  |  | 16,843,045 |  |  |  | 18,593,255 |
Net income (loss) attributable to common shareholders per share: |  |  |  |  |  |  |  |
Basic |  | $ | (0.03 | ) |  | $ | 0.06 |
Diluted |  | $ | (0.03 | ) |  | $ | 0.05 |
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) |
|  | 2021 |  |  | 2020 |
Numerator: |  |  |  |  |  |
Net Income (Loss) |  | $ | (486,558 | ) |  | $ | 1,019,300 |
Denominator: |  |  |  |  |  |  |  |
Basic weighted-average shares |  |  | 16,843,045 |  |  |  | 16,741,622 |
Effect of dilutive securities |  |  |  |  |  |  |  |
Warrants |  |  | - |  |  |  | 1,686,633 |
Options |  |  | - |  |  |  | 101,250 |
Preferred Stock |  |  | - |  |  |  | 63,750 |
Diluted Weighted Average Shares |  |  | 16,843,045 |  |  |  | 18,593,255 |
Net Income (Loss) Per Common Share: |  |  |  |  |  |  |  |
Basic |  | $ | (0.03 | ) |  | $ | 0.06 |
Diluted |  | $ | (0.03 | ) |  | $ | 0.05 |
Note: Warrants, options and preferred stock for the three months ended September 30, 2021 are not included in the computation of diluted weighted average shares as such inclusion would be anti-dilutive.
|  | For the Nine Months Ended September 30, (Unaudited) |
|  | 2021 |  |  | 2020 |
Net Income (Loss) |  | $ | (2,775,952 | ) |  | $ | 7,295,478 |
Adjustments for convertible debt - as converted |  |  |  |  |  |  |  |
Interest on convertible debt |  |  | - |  |  |  | 40,689 |
Net income (loss) attributable to common shareholders |  | $ | (2,775,952 | ) |  | $ | 7,366,167 |
Weighted average number of shares of common stock outstanding: |  |  |  |  |  |  |  |
Basic |  |  | 16,805,145 |  |  |  | 16,429,360 |
Diluted |  |  | 16,805,145 |  |  |  | 18,280,993 |
Net income (loss) attributable to common shareholders per share: |  |  |  |  |  |  |  |
Basic |  | $ | (0.17 | ) |  | $ | 0.45 |
Diluted |  | $ | (0.17 | ) |  | $ | 0.40 |
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) |
|  | 2021 |  |  | 2020 |
Numerator: |  |  |  |  |  |
Net Income (Loss) |  | $ | (2,775,952 | ) |  | $ | 7,295,478 |
Denominator: |  |  |  |  |  |  |  |
Basic weighted-average shares |  |  | 16,805,145 |  |  |  | 16,429,360 |
Effect of dilutive securities |  |  |  |  |  |  |  |
Warrants |  |  | - |  |  |  | 1,686,633 |
Options |  |  | - |  |  |  | 101,250 |
Preferred Stock |  |  | - |  |  |  | 63,750 |
Diluted Weighted Average Shares |  |  | 16,805,145 |  |  |  | 18,280,993 |
Net Income (Loss) Per Common Share: |  |  |  |  |  |  |  |
Basic |  | $ | (0.17 | ) |  | $ | 0.44 |
Diluted |  | $ | (0.17 | ) |  | $ | 0.40 |
Note: Warrants, options and preferred stock for the nine months ended September 30, 2021 are not included in the computation of diluted weighted average shares as such inclusion would be anti-dilutive.
Disaggregation of Revenue |
|  | For the three months ended September 30, (Unaudited) |
|  | 2021 |  |  | 2020 |
SteraMist Product |  | $ | 1,657,000 |  |  | $ | 3,677,000 |
Service and Training |  |  | 548,000 |  |  |  | 615,000 |
Total |  | $ | 2,205,000 |  |  | $ | 4,292,000 |
Revenue by Geographic Region
|  | For the three months ended September 30, (Unaudited) |
|  | 2021 |  |  | 2020 |
United States |  | $ | 2,028,000 |  |  | $ | 3,446,000 |
International |  |  | 177,000 |  |  |  | 846,000 |
Total |  | $ | 2,205,000 |  |  | $ | 4,292,000 |
Product and Service Revenue
|  | For the nine months ended September 30, (Unaudited) |
|  | 2021 |  |  | 2020 |
SteraMist Product |  | $ | 4,329,000 |  |  | $ | 19,557,000 |
Service and Training |  |  | 1,415,000 |  |  |  | 1,817,000 |
Total |  | $ | 5,744,000 |  |  | $ | 21,374,000 |
Revenue by Geographic Region
|  | For the nine months ended September 30, (Unaudited) |
|  | 2021 |  |  | 2020 |
United States |  | $ | 5,017,000 |  |  | $ | 15,437,000 |
International |  |  | 727,000 |  |  |  | 5,937,000 |
Total |  | $ | 5,744,000 |  |  | $ | 21,374,000 |

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