CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) - USD ($) |
3 Months Ended | 6 Months Ended | ||
---|---|---|---|---|
Jun. 30, 2024 |
Jun. 30, 2023 |
Jun. 30, 2024 |
Jun. 30, 2023 |
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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (UNAUDITED) | ||||
Revenues | $ 2,647,300 | $ 2,982,500 | $ 5,130,800 | $ 5,787,900 |
Cost of revenues | 1,354,900 | 1,632,500 | 2,797,600 | 3,099,900 |
Gross profit | 1,292,400 | 1,350,000 | 2,333,200 | 2,688,000 |
Operating expenses: | ||||
General and administrative | 1,062,000 | 1,299,900 | 2,583,800 | 2,869,200 |
Selling | 900,600 | 1,591,800 | 1,798,400 | 3,036,600 |
Research and development | 666,000 | 684,500 | 1,376,700 | 1,476,000 |
Total operating expenses | 2,628,600 | 3,576,200 | 5,758,900 | 7,381,800 |
Loss from operations | (1,336,200) | (2,226,200) | (3,425,700) | (4,693,800) |
Other income: | ||||
Other income (expense), net | (2,000) | 4,100 | (6,300) | 90,400 |
Interest income | 54,600 | 37,000 | 96,800 | 46,400 |
Total other income, net | 52,600 | 41,100 | 90,500 | 136,800 |
Loss from continuing operations before income tax expense benefit | (1,283,600) | (2,185,100) | (3,335,200) | (4,557,000) |
Income tax expense | 0 | 108,800 | 0 | 108,800 |
Loss from continuing operations | (1,283,600) | (2,293,900) | (3,335,200) | (4,665,800) |
Discontinued operations: | ||||
Gain from discontinued operations, net of tax | 0 | 1,900 | 0 | 3,300 |
Net loss | (1,283,600) | (2,292,000) | (3,335,200) | (4,662,500) |
Comprehensive gain (loss): | ||||
Unrealized holding (loss) on investment securities, net of tax | 0 | (2,100) | 0 | 1,600 |
Foreign currency translation (loss) gain | 15,800 | (30,100) | (44,500) | 10,100 |
Comprehensive (loss) gain | 15,800 | (32,200) | (44,500) | 11,700 |
Total comprehensive loss | $ (1,267,800) | $ (2,324,200) | $ (3,379,700) | $ (4,650,800) |
Basic and Diluted loss per common share | ||||
Continuing operations | $ (0.12) | $ (0.33) | $ (0.32) | $ (0.67) |
Discontinued operations | 0 | 0 | 0 | 0 |
Consolidated operations | $ (0.12) | $ (0.33) | $ (0.32) | $ (0.67) |
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- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate cost of goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount after tax of income (loss) from continuing operations attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of net income (loss) from continuing operations per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount after tax of income (loss) from a discontinued operation attributable to the parent. Includes, but is not limited to, the income (loss) from operations during the phase-out period, gain (loss) on disposal, gain (loss) for reversal of write-down (write-down) to fair value, less cost to sell, and adjustments to a prior period gain (loss) on disposal. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Per basic share amount, after tax, of income (loss) from the day-to-day business activities of the discontinued operation and gain (loss) from the disposal of the discontinued operation. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount after tax and reclassification adjustments of gain (loss) on foreign currency translation adjustments, foreign currency transactions designated and effective as economic hedges of a net investment in a foreign entity and intra-entity foreign currency transactions that are of a long-term-investment nature. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense for research and development. Includes, but is not limited to, cost for computer software product to be sold, leased, or otherwise marketed and writeoff of research and development assets acquired in transaction other than business combination or joint venture formation or both. Excludes write-down of intangible asset acquired in business combination or from joint venture formation or both, used in research and development activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Expenses recognized in the period that are directly related to the selling and distribution of products or services. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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