Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Sales:        
Total Sales $ 1,923,400 $ 1,405,100 $ 6,114,877 $ 3,941,025
Cost of Sales:        
Total Cost of Sales 1,302,480 1,497,101 4,646,660 4,313,787
Gross Profit (Loss) (exclusive of depreciation shown separately below) 620,920 (92,001) 1,468,217 (372,762)
Operating Expenses:        
Research and Development 2,468,449 1,506,307 7,158,356 4,374,202
Selling and Marketing 966,294 908,797 4,048,029 2,739,978
General and Administrative 1,666,596 1,612,542 5,579,500 4,155,960
Depreciation and Amortization 377,724 251,366 946,335 734,175
Impairment of Software Development Cost 196,223 0 196,223 0
(Gain) Loss on Inventory Revaluation and Product Discontinuance (211,416) 1,151,482 (211,416) 1,151,482
Total Operating Expenses 5,463,870 5,430,494 17,717,027 13,155,797
Loss from Operations (4,842,950) (5,522,495) (16,248,810) (13,528,559)
Other Income (Expense):        
Investment Income 71,089 12,956 111,075 45,800
Other Taxes (17,809) (15,734) (47,667) (37,884)
Foreign Exchange Loss (26,963) (5,246) (36,615) (30,299)
Loss on asset disposal 0 (585) (56,836) (585)
Gain (Loss) on Derivative Valuation 21,814 41,454 (13,873) 50,598
Amortization of Term Debt Discounts and Deferred Issuance Costs 0 0 0 (175,260)
Interest Expense (2,937) (12,592) (19,128) (77,849)
Total Other Income (Expense) 45,194 20,253 (63,044) (225,479)
Loss Before Provision for Income Taxes (4,797,756) (5,502,242) (16,311,854) (13,754,038)
Provision for Income Taxes 0 0 0 0
Net Loss (4,797,756) (5,502,242) (16,311,854) (13,754,038)
Preferred Stock Dividends (462,034) (435,321) (1,351,147) (1,273,029)
Loss Attributable to Common Stockholders $ (5,259,790) $ (5,937,563) $ (17,663,001) $ (15,027,067)
Basic and Diluted Loss per Share $ (0.19) $ (0.28) $ (0.65) $ (0.73)
Weighted-average Shares Outstanding - Basic and Diluted 27,504,626 21,366,712 27,046,913 20,515,363
Products [Member]        
Sales:        
Sales $ 1,842,500 $ 1,138,413 $ 5,853,461 $ 3,002,744
Cost of Sales:        
Cost of Sales 1,267,320 1,089,881 4,426,904 3,441,650
Engineering Services [Member]        
Sales:        
Sales 80,900 266,687 261,416 938,281
Cost of Sales:        
Cost of Sales $ 35,160 $ 407,220 $ 219,756 $ 872,137