XML 14 R4.htm IDEA: XBRL DOCUMENT v3.23.2
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Revenues        
Revenues $ 1,928,929 $ 1,947,115 $ 5,012,696 $ 3,888,286
Costs and other expenses        
Costs and other expenses 606,111 723,953 1,426,385 1,061,394
Gross profit 1,322,818 1,223,162 3,586,311 2,826,892
Operating Expenses        
Selling, general and administrative 1,943,164 2,006,573 3,874,896 3,804,571
Research, development and engineering 558,181 784,083 1,248,341 1,589,349
Total Operating Expenses 2,501,345 2,790,656 5,123,237 5,393,920
Operating loss (1,178,527) (1,567,494) (1,536,926) (2,567,028)
Other income (expense)        
Interest income 23 77 27 208
Loss on foreign currency transactions 0 0 (15,000) 0
Investment-debt security reserve 0 (150,000) 0 (150,000)
Change in fair value of convertible note (44,568) 0 97,423 0
Interest expense (56,806) (1,540) (113,724) (1,540)
Total other income (expense), net (101,351) (151,463) (31,274) (151,332)
Loss before provision for income tax (1,279,878) (1,718,957) (1,568,200) (2,718,360)
Provision for income tax (143,000) 0 (143,000) 0
Net loss (1,422,878) (1,718,957) (1,711,200) (2,718,360)
Comprehensive loss:        
Net loss (1,422,878) (1,718,957) (1,711,200) (2,718,360)
Other comprehensive loss – Foreign currency translation adjustment 19,884 (165,883) 92,030 (110,081)
Comprehensive loss $ (1,402,994) $ (1,884,840) $ (1,619,170) $ (2,828,441)
Basic and Diluted Loss per Common Share (in dollars per share) $ (0.16) $ (0.21) $ (0.19) $ (0.34)
Weighted Average Common Shares Outstanding:        
Basic and diluted (in shares) 9,021,426 8,098,020 9,008,631 7,992,102
Service [Member]        
Revenues        
Revenues $ 620,465 $ 435,106 $ 1,152,987 $ 830,910
Costs and other expenses        
Costs and other expenses 360,156 180,677 514,957 391,590
License [Member]        
Revenues        
Revenues 1,235,771 1,162,148 3,714,327 2,622,331
Costs and other expenses        
Costs and other expenses 198,147 358,136 819,028 431,366
Hardware [Member]        
Revenues        
Revenues 72,693 349,861 145,382 435,045
Costs and other expenses        
Costs and other expenses $ 47,808 $ 185,140 $ 92,400 $ 238,438