Annual report pursuant to Section 13 and 15(d)

Statements of Operations

v3.20.1
Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]    
Net sales $ 24,801,141 $ 24,046,354
Cost of sales 19,881,742 16,614,574
Gross profit 4,919,399 7,431,780
Operating Expenses    
Sales and Marketing 2,620,907 2,579,457
Research and development 2,275,736 1,907,810
General and administrative 4,004,233 4,043,301
Total operating expenses 8,900,876 8,530,568
Loss from operations (3,981,477) (1,098,788)
Other income (expenses)    
Interest and finance costs (103,335) (20,170)
Other income (expense), net 40,061 55,706
Total other income (expense) (63,274) 35,536
Loss before income taxes (4,044,751) (1,063,252)
Income tax benefit 215,000
Net Loss $ (4,044,751) $ (848,252)
Net loss per share, basic and diluted $ (0.40) $ (0.08)
Weighted average shares outstanding, basic and diluted 10,125,681 10,143,158