XML 13 R4.htm IDEA: XBRL DOCUMENT v3.22.2.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
REVENUE $ 3,452,759 $ 1,179,064 $ 5,273,498 $ 1,988,160
COST OF REVENUE 1,812,918 495,675 3,066,138 1,060,810
GROSS PROFIT 1,639,841 683,389 2,207,360 927,350
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 1,338,177 404,756 2,030,694 904,302
OPERATING INCOME 301,664 278,633 176,666 23,048
OTHER (INCOME) EXPENSE        
BAD DEBT RECOVERY (25,000)   (125,000)  
GAIN ON EXTINGUISHMENT OF DEBT   (304,833)   (304,833)
LIFE INSURANCE PROCEEDS (500,000)   (500,000)  
INTEREST EXPENSE (5,622) (6,302) (11,776) (11,957)
TOTAL OTHER (INCOME) EXPENSE, net (519,378) (298,531) (613,224) (292,876)
INCOME BEFORE INCOME TAX 821,042 577,164 789,890 315,924
INCOME TAX EXPENSE 99,000 0 99,000 4,426
NET INCOME $ 722,042 $ 577,164 $ 690,890 $ 311,498
Basic Net Income Per Common Share (in dollars per share) $ 0.74 $ 0.56 $ 0.71 $ 0.30
Diluted Net Income Per Common Share (in dollars per share) $ 0.73 $ 0.56 $ 0.70 $ 0.30
Weighted Average Number of Common Shares – Basic (in shares) 976,330 1,028,863 975,761 1,028,863
Weighted Average Number of Common Shares - Diluted (in shares) 993,470 1,030,901 987,595 1,033,131