Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Sales:        
Total Sales $ 3,018,774 $ 2,778,721 $ 9,850,702 $ 7,347,280
Cost of Sales:        
Total Cost of Sales 2,435,437 2,430,751 7,608,401 6,122,873
Gross Profit (exclusive of depreciation shown separately below) 583,337 347,970 2,242,301 1,224,407
Operating Expenses:        
Research and Development 3,270,255 1,874,243 8,050,915 5,693,569
Selling and Marketing 1,589,582 936,206 4,167,874 2,885,872
General and Administrative 3,112,059 1,635,076 11,565,816 4,972,854
Depreciation and Amortization 434,277 634,669 1,453,367 1,923,922
Loss on Fixed Asset Disposal     83,908  
Impairment of Patents and Trademarks 7,544 16,000 66,040 73,532
Total Operating Expenses 8,413,717 5,096,194 25,387,920 15,549,749
Loss From Operations (7,830,380) (4,748,224) (23,145,619) (14,325,342)
Other Income (Expense):        
Investment Income 29,843 4,662 45,448 33,908
Income and Other Taxes (105,526) (16,802) (138,034) (43,867)
Foreign Exchange Loss (40,003) (446) (126,681) (25,799)
Total Other Expense, Net (115,686) (12,586) (219,267) (35,758)
Loss Before Provision for Income Taxes (7,946,066) (4,760,810) (23,364,886) (14,361,100)
Net Loss (7,946,066) (4,760,810) (23,364,886) (14,361,100)
Preferred Stock Dividends - Accrued not Paid   (520,562)   (1,527,716)
Loss Attributable to Common Stockholders $ (7,946,066) $ (5,281,372) $ (23,364,886) $ (15,888,816)
Basic and Diluted Loss per Common Share $ (0.13) $ (0.13) $ (0.39) $ (0.44)
Weighted-average Shares Outstanding - Basic and Diluted 63,520,878 39,837,321 60,278,923 36,448,266
Sales of Products        
Sales:        
Total Sales $ 3,018,774 $ 2,686,166 $ 9,657,589 $ 6,392,865
Cost of Sales:        
Cost of Sales $ 2,435,437 2,393,676 7,578,732 5,942,043
Sales of Engineering Services        
Sales:        
Total Sales   92,555 193,113 954,415
Cost of Sales:        
Cost of Sales   $ 37,075 $ 29,669 $ 180,830