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
Mar. 31, 2019
Mar. 31, 2018
Sales:    
Total Sales $ 1,373,371 $ 1,543,895
Cost of Sales:    
Total Cost of Sales 1,333,481 1,366,770
Gross Profit (exclusive of depreciation shown separately below) 39,890 177,125
Operating Expenses:    
Research and Development 2,516,100 2,055,787
Selling and Marketing 1,417,966 1,534,097
General and Administrative 1,896,402 1,665,229
Depreciation and Amortization 559,089 273,622
Total Operating Expenses 6,389,557 5,528,735
Loss from Operations (6,349,667) (5,351,610)
Other Income (Expense):    
Investment Income 58,313 0
Other Taxes (52,662) (28,542)
Foreign Exchange Loss (15,745) (4,418)
Gain on Derivative Valuation 0 28,133
Interest Expense 0 (9,213)
Total Other Expense (10,094) (14,040)
Loss Before Provision for Income Taxes (6,359,761) (5,365,650)
Provision for Income Taxes 0 0
Net Loss (6,359,761) (5,365,650)
Preferred Stock Dividends (465,765) (438,836)
Loss Attributable to Common Stockholders $ (6,825,526) $ (5,804,486)
Basic and Diluted Loss Attributable to Common Stockholders per Share $ (0.25) $ (0.22)
Weighted-average Shares Outstanding - Basic and Diluted 27,595,767 26,296,188
Sales of Products    
Sales:    
Total Sales $ 1,373,371 $ 1,363,379
Cost of Sales:    
Cost of Sales 1,333,481 1,182,215
Sales of Engineering Services    
Sales:    
Total Sales 0 180,516
Cost of Sales:    
Cost of Sales $ 0 $ 184,555