SUBSEQUENT EVENTS (Tables)

9 Months Ended

Sep. 30, 2021

Subsequent Events

Schedule of proforma data

	Three Months Ended September 30, 2021			Nine Months Ended September 30, 2021
Net Sales	$	5,894,136		$	16,149,817
Cost of Goods Sold		3,996,053		9,180,467
Gross Profit		1,898,083		6,969,350
Research and development		—		53,408
Stock based compensation		426,268		2,052,609
Selling, General and Administrative Expenses		3,887,863		10,795,269
Total Operating expenses		4,314,131		12,901,286
Operating Loss		(2,416,048	)	(5,931,936)
Other (Expense) Income
Change in Fair Market Value of Warrant Liability		151,570		(148,882)
Other income		533,787		797,889
Total Other Income		685,357		649,007
Loss Before Provision for Income Taxes		(1,730,691	)	(5,282,929)
Benefit from Income Taxes		(101,354	)	(101,354)
Net Loss	$	(1,629,237	)	$	(5,181,575)

		Three Month Ended September 30, 2020	Nine Month Ended September 30, 2020
Net Sales	$	6,763,331	$	17,038,535
Cost of Goods Sold		3,281,549	9,030,374
Gross Profit		3,481,782	8,008,161
Research and development		65,037	65,037
Stock based compensation		279,707	381,314
Selling, General and Administrative Expenses		2,270,742	5,931,155
Total Operating expenses		2,615,486	6,377,506
Operating Income		866,296	1,630,655
Other (Expense) Income
Change in Fair Market Value of Warrant Liability		—	—
Other income		24,836	18,410
Total Other Income		24,836	18,410
Income Before Provision for Income Taxes		891,132	1,649,065
Provision for Income Taxes		217,845	404,516
Net Income	$	673,287	$	1,244,549

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed

Purchase Price:
Cash	$	9,500,000
Fair market value of common stock issued		2,076,439
Earn-out		3,345
Total Purchase Price		11,579,784
Assets Acquired:
Accounts receivable		129,845
Inventory		369,970
Machinery and equipment		1,982
Customer relationships		6,784,000
Patents		1,533,000
Technology and know how		1,217,000
Trade names		326,000
Total Assets Acquired:		10,361,797
Excess Purchase Price "Goodwill"	$	1,217,987