XML 14 R4.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($)
3 Months Ended
Mar. 31, 2022
Mar. 31, 2021
Statement of Operations [Abstract]    
Revenues $ 24,228,108 $ 12,896,475
Cost of Revenues 14,601,018 6,844,521
Gross Profit 9,627,090 6,051,954
Product Royalty Income 78,839 24,810
Operating Expenses    
Salaries and wages 1,297,962 924,537
Commissions and consulting expenses 162,586 220,662
Professional fees 259,115 337,755
Advertising and marketing 613,890 517,580
Office lease and expenses 207,021 87,373
Research and development costs 533,700 405,105
Bad debt expense 18,324 65,825
General and administrative expenses 711,752 528,599
Depreciation 276,924 236,535
Total operating expenses 4,081,274 3,323,971
Income from Operations 5,624,655 2,752,793
Other Income (Expenses)    
Interest and other expenses, net 6,157 (4,007)
Total other income (expenses) 6,157 (4,007)
Income Before Income Taxes 5,630,812 2,748,786
Income Taxes 1,408,057 687,948
Net Income Available to Common Shareholders $ 4,222,755 $ 2,060,838
Net Income per Common Share    
Basic $ 0.73 $ 0.38
Diluted $ 0.68 $ 0.34
Weighted Average Number of Common Shares Outstanding    
Basic 5,765,461 5,430,374
Diluted 6,246,325 6,118,129
Comprehensive Income    
Net Income $ 4,222,755 $ 2,060,838
Other comprehensive income, net of $0 and ($1,000) deferred income taxes in 2022 and 2021    
Foreign currency translation 257,734 (28,352)
Total Comprehensive Income $ 4,480,489 $ 2,032,486