Delaware
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001-37752
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26-2940963
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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Exhibit
Number
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Description
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Press Release
dated March 8, 2018.
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CHROMADEX CORPORATION
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Dated: March 8,
2018
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By:
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/s/
Kevin M. Farr
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Name: Kevin M.
Farr
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Chief Financial
Officer
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U.S.
Toll-Free Number:
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(866)
327-8118
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International
Dial-In Number:
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(678)
509-7526
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Conference
ID:
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9787028
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Webcast
link:
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https://edge.media-server.com/m6/p/8kcvfrii
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ChromaDex
Corporation and Subsidiaries
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Consolidated
Statements of Operations
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Three
Months Ended December 30, 2017 and December 31, 2016
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Q4 2017
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Q4 2016
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Sales,
net
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$7,530,836
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$4,452,783
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Cost of
sales
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3,695,837
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2,442,714
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Gross
profit
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3,834,999
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2,010,069
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Operating
expenses:
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Sales and
marketing
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2,401,046
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368,200
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Research and
development
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1,452,668
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534,171
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General and
administrative
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8,759,068
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3,279,624
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Operating
expenses
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12,612,782
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4,181,995
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Operating
loss
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(8,777,783)
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(2,171,926)
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Nonoperating income
(expense):
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Interest expense,
net
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(44,033)
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(18,360)
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Nonoperating
expenses
|
(44,033)
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(18,360)
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Loss before income
taxes
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(8,821,816)
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(2,190,286)
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Provision for
income taxes
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-
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3,500
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Loss
from continuing operations
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(8,821,816)
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(2,186,786)
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Income
from discontinued operations
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-
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40,033
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Net
loss
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$(8,821,816)
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$(2,146,753)
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Basic and diluted
earnings (loss) per common share:
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Loss
from continuing operations
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$(0.17)
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$(0.06)
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Earnings
from discontinued operations
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$-
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$0.00
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Basic and diluted
loss per common share
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$(0.17)
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$(0.06)
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Basic and diluted
weighted average common shares outstanding
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51,178,664
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37,904,534
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ChromaDex
Corporation and Subsidiaries
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Consolidated
Statements of Operations
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Years
Ended December 30, 2017 and December 31, 2016
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2017
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2016
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Sales,
net
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$21,201,482
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$21,664,648
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Cost of
sales
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10,724,177
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11,274,114
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Gross
profit
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10,477,305
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10,390,534
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Operating
expenses:
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Sales and
marketing
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4,459,224
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1,558,213
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Research and
development
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4,007,381
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2,522,768
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General and
administrative
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17,641,889
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9,214,763
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Other
|
745,773
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-
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Operating
expenses
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26,854,267
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13,295,744
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Operating
loss
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(16,376,962)
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(2,905,210)
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Nonoperating income
(expense):
|
|
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Interest expense,
net
|
(152,784)
|
(333,286)
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Loss on debt
extinguishment
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-
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(313,099)
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Nonoperating
expenses
|
(152,784)
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(646,385)
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Loss
from continuing operations
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(16,529,746)
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(3,551,595)
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Income (loss) from
discontinued operations
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(315,140)
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623,410
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Gain on sale of
discontinued operations
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5,467,268
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-
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Income
from discontinued operations, net
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5,152,128
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623,410
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Net
loss
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$(11,377,618)
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$(2,928,185)
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Basic and diluted
earnings (loss) per common share:
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Loss
from continuing operations
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$(0.37)
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$(0.10)
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Earnings
from discontinued operations
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$0.11
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$0.02
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Basic and diluted
loss per common share
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$(0.26)
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$(0.08)
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Basic and diluted
weighted average common shares outstanding
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44,598,879
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37,294,321
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Consolidated
Statements of Operations, Unaudited
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Effects
of Charges associated with Interest, Tax,
Depreciation,
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Consolidated
Statements of Operations, Adjusted EBITDA
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||||||
(US
GAAP)
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Amortization
and Share-based Compensation Expense
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Excluding
Interest, Tax, Depreciation, Amortization and
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||||||
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Share-based
Compensation (Non-GAAP Presentation)
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||||||
Three
Months Ended December 30, 2017 and December 31, 2016
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Three
Months Ended December 30, 2017 and December 31, 2016
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Three
Months Ended December 30, 2017 and December 31, 2016
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||||||
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Q4 2017
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Q4 2016
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Q4 2017
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Q4 2016
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Q4 2017
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Q4 2016
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Sales,
net
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$7,530,836
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$4,452,783
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Sales,
net
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$-
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$-
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Sales,
net
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$7,530,836
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$4,452,783
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Cost of
sales
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3,695,837
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2,442,714
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Cost of
sales
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(58,546)
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(18,405)
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Cost of
sales
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3,637,291
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2,424,309
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Gross
profit
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3,834,999
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2,010,069
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Gross
profit
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58,546
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18,405
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Gross
profit
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3,893,545
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2,028,474
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Operating
expenses:
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Operating
expenses:
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Operating
expenses:
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Sales and
marketing
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2,401,046
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368,200
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Sales and
marketing
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(1,857)
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-
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Sales and
marketing
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2,399,189
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368,200
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Research and
development
|
1,452,668
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534,171
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Research and
development
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(41,654)
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(10,494)
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Research and
development
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1,411,014
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523,677
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General and
administrative
|
8,759,068
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3,279,624
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General and
administrative
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(3,464,320)
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(294,518)
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General and
administrative
|
5,294,748
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2,985,106
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Operating
expenses
|
12,612,782
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4,181,995
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Operating
expenses
|
(3,507,831)
|
(305,012)
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Operating
expenses
|
9,104,951
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3,876,983
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Operating
loss
|
(8,777,783)
|
(2,171,926)
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Operating
income
|
3,566,377
|
323,417
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Operating
loss
|
(5,211,406)
|
(1,848,509)
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Nonoperating income
(expense):
|
|
|
Nonoperating income
(expense):
|
|
|
Nonoperating income
(expense):
|
|
|
Interest expense,
net
|
(44,033)
|
(18,360)
|
Interest expense,
net
|
44,033
|
18,360
|
Interest expense,
net
|
-
|
-
|
Nonoperating
expenses
|
(44,033)
|
(18,360)
|
Nonoperating
income
|
44,033
|
18,360
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Nonoperating
expenses
|
-
|
-
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|
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Loss before income
taxes
|
(8,821,816)
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(2,190,286)
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Income before
income taxes
|
3,610,410
|
341,777
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Loss before income
taxes
|
(5,211,406)
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(1,848,509)
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Provision for
income taxes
|
-
|
3,500
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Provision for
income taxes
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-
|
(3,500)
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Provision for
income taxes
|
-
|
-
|
|
|
|
|
|
|
|
|
|
Loss
from continuing operations
|
(8,821,816)
|
(2,186,786)
|
Income
from continuing operations
|
3,610,410
|
338,277
|
Loss
from continuing operations
|
(5,211,406)
|
(1,848,509)
|
|
|
|
|
|
|
|
|
|
Income
from discontinued operations
|
-
|
40,033
|
Income
from discontinued operations
|
-
|
70,352
|
Income
from discontinued operations
|
-
|
110,385
|
|
|
|
|
|
|
|
|
|
Net
loss
|
$(8,821,816)
|
$(2,146,753)
|
Effects
of adjusted EBITDA
|
$3,610,410
|
$408,629
|
Adjusted
EBITDA
|
$(5,211,406)
|
$(1,738,124)
|
|
|
|
|
|
|
|
|
|
Basic and diluted
earnings (loss) per common share:
|
|
|
Effects of adjusted
EBITDA per common share:
|
|
|
Basic and diluted
adjusted EBITDA per common share:
|
|
|
Loss
from continuing operations
|
$(0.17)
|
$(0.06)
|
From
continuing operations
|
$0.07
|
$0.01
|
From
continuing operations
|
$(0.10)
|
$(0.05)
|
Earnings
from discontinued operations
|
$-
|
$0.00
|
From
discontinued operations
|
$-
|
$0.00
|
From
discontinued operations
|
$-
|
$0.00
|
|
|
|
|
|
|
|
|
|
Basic and diluted
loss per common share
|
$(0.17)
|
$(0.06)
|
Effects of adjusted
EBITDA per common share
|
$0.07
|
$0.01
|
Basic and diluted
adjusted EBITDA per common share
|
$(0.10)
|
$(0.05)
|
|
|
|
|
|
|
|
|
|
Weighted average
common shares outstanding
|
|
|
Weighted average
common shares outstanding
|
|
|
Weighted average
common shares outstanding
|
|
|
Basic
and diluted
|
51,178,664
|
37,904,534
|
Basic
and diluted
|
51,178,664
|
37,904,534
|
Basic
and diluted
|
51,178,664
|
37,904,534
|
Consolidated
Statements of Operations
|
Effects
of Charges associated with Interest, Tax, Depreciation,
|
Consolidated
Statements of Operations, Adjusted EBITDA
|
||||||
(US
GAAP)
|
Amortization
and Share-based Compensation Expense
|
Excluding
Interest, Tax, Depreciation, Amortization and
|
||||||
|
|
Share-based
Compensation (Non-GAAP Presentation)
|
||||||
Years
Ended December 30, 2017 and December 31, 2016
|
Years
Ended December 30, 2017 and December 31, 2016
|
Years
Ended December 30, 2017 and December 31, 2016
|
||||||
|
|
|
|
|
|
|
|
|
|
2017
|
2016
|
|
2017
|
2016
|
|
2017
|
2016
|
|
|
|
|
|
|
|
|
|
Sales,
net
|
$21,201,482
|
$21,664,648
|
Sales,
net
|
$-
|
$-
|
Sales,
net
|
$21,201,482
|
$21,664,648
|
Cost of
sales
|
10,724,177
|
11,274,114
|
Cost of
sales
|
(178,109)
|
(42,589)
|
Cost of
sales
|
10,546,068
|
11,231,525
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
10,477,305
|
10,390,534
|
Gross
profit
|
178,109
|
42,589
|
Gross
profit
|
10,655,414
|
10,433,123
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
Operating
expenses:
|
|
|
Operating
expenses:
|
|
|
Sales and
marketing
|
4,459,224
|
1,558,213
|
Sales and
marketing
|
(2,381)
|
-
|
Sales and
marketing
|
4,456,843
|
1,558,213
|
Research and
development
|
4,007,381
|
2,522,768
|
Research and
development
|
(132,285)
|
(10,493)
|
Research and
development
|
3,875,096
|
2,512,275
|
General and
administrative
|
17,641,889
|
9,214,763
|
General and
administrative
|
(4,838,865)
|
(1,305,505)
|
General and
administrative
|
12,803,024
|
7,909,258
|
Other
|
745,773
|
-
|
Other
|
-
|
-
|
Other
|
745,773
|
-
|
Operating
expenses
|
26,854,267
|
13,295,744
|
Operating
expenses
|
(4,973,531)
|
(1,315,998)
|
Operating
expenses
|
21,880,736
|
11,979,746
|
|
|
|
|
|
|
|
|
|
Operating
loss
|
(16,376,962)
|
(2,905,210)
|
Operating
income
|
5,151,640
|
1,358,587
|
Operating
loss
|
(11,225,322)
|
(1,546,623)
|
|
|
|
|
|
|
|
|
|
Nonoperating income
(expense):
|
|
|
Nonoperating income
(expense):
|
|
|
Nonoperating income
(expense):
|
|
|
Interest expense,
net
|
(152,784)
|
(333,286)
|
Interest expense,
net
|
152,784
|
333,286
|
Interest expense,
net
|
-
|
-
|
Loss on debt
extinguishment
|
-
|
(313,099)
|
Loss on debt
extinguishment
|
-
|
-
|
Loss on debt
extinguishment
|
-
|
(313,099)
|
Nonoperating
expenses
|
(152,784)
|
(646,385)
|
Nonoperating
income
|
152,784
|
333,286
|
Nonoperating
expenses
|
-
|
(313,099)
|
|
|
|
|
|
|
|
|
|
Loss
from continuing operations
|
(16,529,746)
|
(3,551,595)
|
Loss
from continuing operations
|
5,304,424
|
1,691,873
|
Loss
from continuing operations
|
(11,225,322)
|
(1,859,722)
|
|
|
|
|
|
|
|
|
|
Income (loss) from
discontinued operations
|
(315,140)
|
623,410
|
Income from
discontinued operations
|
193,889
|
291,121
|
Income (loss) from
discontinued operations
|
(121,251)
|
914,531
|
Gain on sale of
discontinued operations
|
5,467,268
|
-
|
Gain on sale of
discontinued operations
|
-
|
-
|
Gain on sale of
discontinued operations
|
5,467,268
|
-
|
|
|
|
|
|
|
|
|
|
Income
from discontinued operations, net
|
5,152,128
|
623,410
|
Income
from discontinued operations, net
|
193,889
|
291,121
|
Income
from discontinued operations, net
|
5,346,017
|
914,531
|
|
|
|
|
|
|
|
|
|
Net
loss
|
$(11,377,618)
|
$(2,928,185)
|
Effects
of adjusted EBITDA
|
$5,498,313
|
$1,982,994
|
Adjusted
EBITDA
|
$(5,879,305)
|
$(945,191)
|
|
|
|
|
|
|
|
|
|
Basic and diluted
earnings (loss) per common share:
|
|
|
Effects of adjusted
EBITDA per common share:
|
|
|
Basic and diluted
adjusted EBITDA per common share:
|
|
|
Loss
from continuing operations
|
$(0.37)
|
$(0.10)
|
From
continuing operations
|
$0.12
|
$0.05
|
From
continuing operations
|
$(0.25)
|
$(0.05)
|
Earnings
from discontinued operations
|
$0.11
|
$0.02
|
From
discontinued operations
|
$0.00
|
$0.00
|
From
discontinued operations
|
$0.12
|
$0.02
|
|
|
|
|
|
|
|
|
|
Basic and diluted
loss per common share
|
$(0.26)
|
$(0.08)
|
Effects of adjusted
EBITDA per common share
|
$0.12
|
$0.05
|
Basic and diluted
adjusted EBITDA per common share
|
$(0.13)
|
$(0.03)
|
|
|
|
|
|
|
|
|
|
Weighted average
common shares outstanding
|
|
|
Weighted average
common shares outstanding
|
|
|
Weighted average
common shares outstanding
|
|
|
Basic
and diluted
|
44,598,879
|
37,294,321
|
Basic
and diluted
|
44,598,879
|
37,294,321
|
Basic
and diluted
|
44,598,879
|
37,294,321
|