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Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Net Sales $ 5,980,766 $ 6,365,352 $ 18,793,620 $ 24,259,037
Cost of Sales 5,719,824 6,284,645 16,441,524 20,925,512
Gross profit 260,942 80,707 2,352,096 3,333,525
Operating expenses:        
General and administrative 1,067,122 1,167,207 3,253,561 3,865,527
Selling 31,723 55,907 112,113 285,015
Advertising and marketing 69,569 92,061 271,563 428,798
Impairment of long-lived assets 1,252,283
Gain on loss of control of VIEs (218,527) (218,534)
Gain on sale of assets (23,054) (45,700) (70,263)
Total operating expenses 1,168,414 1,073,594 3,591,537 5,762,932
Loss from operations (907,472) (992,887) (1,239,441) (2,429,407)
Other (expense) income:        
Interest expense (255,138) (464,546) (1,033,240) (1,493,264)
Gain on forgiveness of Payroll Protection Program Funding 247,554 1,047,700
Other Expense (15,621) (82,873) (387,961) (485,742)
Foreign currency loss 15,100 (25,747) (169,357) (27,458)
Total other expense, net (8,105) (573,166) (542,858) (2,006,464)
Loss from continuing operations before taxes (915,577) (1,566,053) (1,782,299) (4,435,871)
Income tax expense
Loss from continuing operations (915,577) (1,566,053) (1,782,299) (4,435,871)
Loss from discontinued operations , net of tax (113,055) (658,518) (1,199,648) (2,105,755)
Net Loss (1,028,632) (2,224,571) (2,981,947) (6,541,626)
Less: Net (loss) income attributable to noncontrolling interest (74,692) (282,985) 138,198 (861,475)
Net loss before foreign currency adjustment and Preferred Share Dividends (953,940) (1,941,586) (3,120,145) (5,680,151)
Other Comprehensive Income (Loss)        
Foreign currency adjustment 5,324 (281,817) (1,291,852) 15,603
Comprehensive Loss (1,023,308) (2,506,388) (4,273,799) (6,526,023)
Deemed Dividends on preferred stock and amortization of beneficial conversion feature (114,561) (2,733,329)
Net Loss attributable to Yunhong CTI Ltd Shareholders $ (1,068,501) $ (1,941,586) $ (5,853,474) $ (5,680,151)
Basic loss per common share        
Continuing operations (in dollars per share) $ (0.19) $ (0.34) $ (1.05) $ (0.93)
Discontinued operations (in dollars per share) (0.02) (0.17) (0.27) (0.55)
Basic loss per common share (in dollars per share) (0.21) (0.51) (1.32) (1.48)
Diluted loss per common share        
Continuing operations (in dollars per share) (0.19) (0.34) (1.05) (0.93)
Discontinued operations (in dollars per share) (0.02) (0.17) (0.27) (0.55)
Diluted loss per common share (in dollars per share) $ (0.21) $ (0.51) $ (1.32) $ (1.48)
Weighted average number of shares and equivalent shares of common stock outstanding:        
Basic (in shares) 4,902,131 3,835,950 4,426,420 3,835,950
Diluted (in shares) 4,902,131 3,835,950 4,426,420 3,835,950