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Statements of Comprehensive Income (unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Revenues        
Licenses, royalties and fees $ 448,600 $ 222,500 $ 755,700 $ 552,900
Product and other sales 237,300 90,000 783,900 884,900
 Total revenues 685,900 312,500 1,539,600 1,437,800
Cost of revenues        
Licenses, royalties and fees 44,500 28,300 130,400 124,900
Product and other sales 147,900 75,000 429,400 432,500
Total cost of revenues 192,400 103,300 559,800 557,400
Gross profit 493,500 209,200 979,800 880,400
Operating expenses        
Research and development 23,900 44,000 95,900 134,300
Sales and marketing 88,900 56,600 230,400 214,000
General and administrative 180,200 122,300 964,600 385,500
Total operating expenses 293,000 222,900 1,290,900 733,800
Net income (loss) from operations 200,500 (13,700) (311,100) 146,600
Other income (expenses)        
Interest income 6,500 5,100 18,400 15,200
Interest expense and bank charges (500) (500) (1,200) (1,700)
Total other income (expenses) 6,000 4,600 17,200 13,500
Net income (loss) before income taxes 206,500 (9,100) (293,900) 160,100
Income taxes (10,200) 1,700
Net income (loss) $ 206,500 $ 1,100 $ (293,900) $ 158,400
Net income (loss) per common share**        
Basic [1] $ 0.03 $ 0.00 $ (0.04) $ 0.02
Diluted [1] $ 0.03 $ 0.00 $ (0.04) $ 0.02
Weighted average common shares outstanding**        
Basic [1] 7,584,512 6,751,178 7,028,956 6,743,324
Diluted [1] 7,584,512 6,751,178 7,028,956 6,743,324
[1] Reflects the 1-for-10 reverse stock split that became effective on September 2, 2022. See Note 5.