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CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
REVENUE        
Sales $ 492,394 $ 116,864 $ 653,288 $ 288,854
Royalty and license fees 12,500 12,500 37,500 37,500
Total Revenue 504,894 129,364 690,788 326,354
COST OF GOODS SOLD 381,214 90,749 610,859 173,639
GROSS MARGIN 123,680 38,615 79,929 152,715
OPERATING EXPENSES        
Research and development, net of government grant proceeds of $0, $28,651, $0 and $89,617, respectively 85,887 29,814 212,508 69,660
Selling, general and administrative 430,455 305,833 1,259,080 1,590,907
TOTAL OPERATING EXPENSES 516,342 335,647 1,471,588 1,660,567
LOSS FROM OPERATIONS (392,662) (297,032) (1,391,659) (1,507,852)
OTHER INCOME (EXPENSE)        
Interest expense (800,072) (110,938) (2,103,604) (471,746)
Forgiveness of debt income 124,126 146,685 124,126 146,685
Change in fair value of derivative liabilities 0 0 0 2,241,678
Gain on extinguishment of debt 0 0 0 1,148,554
TOTAL OTHER INCOME (EXPENSE), NET (675,946) 38,459 (1,979,478) 3,067,883
NET INCOME (LOSS) $ (1,068,608) $ (261,285) $ (3,371,137) $ 1,557,319
NET INCOME (LOSS) PER COMMON SHARE, BASIC $ (0.10) $ 0.03 $ (0.33) $ 0.35
NET LOSS PER COMMON SHARE, DILUTED $ (0.10) $ (0.03) $ (0.33) $ (0.19)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC 11,170,719 9,414,796 10,107,546 4,494,649
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, DILUTED 11,170,719 9,414,796 10,107,546 8,360,950