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Consolidated Statements of Net Loss - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Revenue $ 1,505,459 $ 1,420,680
Cost of sales 505,107 487,024
Gross profit 1,000,352 933,656
General and administrative expense 11,110,735 10,932,125
Operations expense 3,798,425 2,698,565
Sales and marketing expense 1,358,907 774,530
Loss on goodwill impairment 7,231,093 2,813,792
Loss on impairment of intangibles 3,349,375 2,893,548
Loss on long-lived tangible asset impairment 185,469 1,249,727
Total operating loss (26,033,652) (20,428,631)
Other income 185,646 184,528
Other expense (5,275) (239,631)
Gain on derivative instruments 115,647 164,902
Loss before income tax benefit (25,737,634) (20,318,832)
Benefit from release of valuation allowance 0 (661,658)
Net loss $ (25,737,634) $ (19,657,174)
Loss per common share - basic and diluted (in dollars per share) $ (0.35) $ (0.36)
Weighted average shares used in computation - basic and diluted (in shares) [1] 72,997,987 54,876,044
[1] The following is a summary of the number of underlying shares outstanding at the end of the respective periods that have been excluded from the diluted calculations because the effect on loss per common share would have been anti-dilutive: Year Ended December 31, 2022 2021 Options 981,060 1,062,871 RSUs 83,334 366,667 Warrants 36,328,731 31,699,885 Preferred stock: Series B 79,246 79,246