XML 15 R4.htm IDEA: XBRL DOCUMENT v3.25.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2023
Dec. 31, 2022
Revenues:                        
Total revenues $ 19,586,929 $ 18,451,476 $ 16,754,771 $ 12,368,288 $ 16,281,502 $ 21,052,869 $ 35,206,247 $ 37,334,371 $ 54,793,176 $ 49,702,659 $ 69,920,048 $ 66,294,699
Cost of revenues:                        
Total cost of revenues 17,163,644 15,939,298 13,746,134 9,888,339 12,832,931 16,435,526 29,685,432 29,268,457 46,849,076 39,156,796 60,017,382 54,139,177
Gross profit 2,423,285 2,512,178 3,008,637 2,479,949 3,448,571 4,617,343 5,520,815 8,065,914 7,944,100 10,545,863 9,902,666 12,155,522
Operating expenses:                        
General and administrative 5,558,767 6,235,206 7,685,030 5,973,578 5,006,440 5,536,208 13,920,236 10,542,648 19,479,003 16,516,226 25,277,878 22,305,096
Depreciation and amortization 372,969 424,163 404,069 526,750 371,557 218,278 828,232 589,835 1,201,201 1,116,585 1,636,667 1,483,065
Impairment of goodwill and intangibles                     6,273,595 0
Business development 0 0 0 3,299,864 0 0 0 0 0 3,299,864 0 3,299,864
Total operating expenses 5,931,736 6,659,369 8,089,099 9,800,192 5,377,997 5,754,486 14,748,468 11,132,483 20,680,204 20,932,675 33,188,140 27,088,025
Loss from operations (3,508,451) (4,147,191) (5,080,462) (7,320,243) (1,929,426) (1,137,143) (9,227,653) (3,066,569) (12,736,104) (10,386,812) (23,285,474) (14,932,503)
Non-operating income (expenses):                        
Interest expense (39,929) (44,989) (73,216) (7,083) (7,529) (7,658) (118,205) (15,187) (158,134) (22,270) (271,686) (54,577)
Interest income 19,461 75,060 73,131 94,203 47,274 79,852 148,191 127,126 167,652 221,329 173,895 329,012
Change in fair value of contingent consideration 0 0 (160,232) 0 0 0 (160,232) 0 (160,232) 0 (160,232) (436,905)
Write-down of investment (258,492) 0 0 0 0 0 0 0 (258,492) 0 (258,492) 0
Loss on settlement     0 0 0 0 (1,500,000)   (1,500,000)   (308,229) (950,575)
Loss on settlement 0 (1,500,000) 0       (1,500,000) 0 (1,500,000) 0 (1,500,000) 0
Other income (expense) (34,711) (146,789) (10,422) (221,546) 66,497 (34,989) (157,211) 31,508 (191,922) (190,038) (41,463) (192,443)
Total non-operating income (expenses) (313,671) (1,616,718) (170,739) (134,426) 106,242 37,205 (1,787,457) 143,447 (2,101,128) 9,021 (2,057,978) (1,305,488)
Loss before income taxes (3,822,122) (5,763,909) (5,251,201) (7,454,669) (1,823,184) (1,099,938) (11,015,110) (2,923,122) (14,837,232) (10,377,791) (25,343,452) (16,237,991)
Income tax benefit 0 0 0 (29,970) 944,999 0 0 944,999 0 915,029 (94,209) 983,315
Net loss (3,822,122) (5,763,909) (5,251,201) (7,484,639) (878,185) (1,099,938) (11,015,110) (1,978,123) (14,837,232) (9,462,762) (25,437,661) (15,254,676)
Comprehensive loss $ (3,822,122) $ (5,763,909) $ (5,251,201) $ (7,484,639) $ (878,185) $ (1,099,938) $ (11,015,110) $ (1,978,123) $ (14,837,232) $ (9,462,762) $ (25,437,661) $ (15,254,676)
Loss per share – basic (in dollars per share) $ (0.33) $ (0.53) $ (0.49) $ (0.70) $ (0.08) $ (0.10) $ (1.01) $ (0.19) $ (1.37) $ (0.89) $ (2.34) $ (1.41)
Loss per share – diluted (in dollars per share) $ (0.33) $ (0.53) $ (0.49) $ (0.70) $ (0.08) $ (0.10) $ (1.01) $ (0.19) $ (1.37) $ (0.89) $ (2.34) $ (1.41)
Weighted average shares – basic (in shares) 11,649,790 10,945,978 10,772,705 10,674,796 10,508,972 10,508,972 10,859,820 10,527,975 10,859,820 10,577,453 10,881,675 10,786,967
Weighted average shares – diluted (in shares) 11,649,790 10,945,978 10,772,705 10,674,796 10,508,972 10,508,972 10,859,820 10,527,975 10,859,820 10,577,453 10,881,675 10,786,967
Equipment systems                        
Revenues:                        
Total revenues $ 3,035,758 $ 4,688,534 $ 2,905,035 $ 3,880,432 $ 10,078,887 $ 17,067,344 $ 7,593,569 $ 27,146,231 $ 10,629,327 $ 31,026,663 $ 12,720,873 $ 33,119,480
Cost of revenues:                        
Total cost of revenues 2,774,147 4,139,294 2,408,481 3,316,970 8,679,145 14,587,275 6,547,775 23,266,420 9,321,922 26,583,390 11,081,536 28,776,023
Services                        
Revenues:                        
Total revenues 2,898,741 3,030,574 3,470,653 2,839,334 3,027,555 3,638,507 6,501,227 6,666,062 9,399,968 9,505,396 11,919,920 13,084,643
Cost of revenues:                        
Total cost of revenues 1,768,166 1,949,959 1,974,538 1,804,925 1,271,665 1,601,429 3,924,497 2,873,094 5,692,663 4,678,019 7,222,964 6,239,013
Construction design-build                        
Revenues:                        
Total revenues 13,466,093 10,592,469 10,195,338 5,384,267 2,917,321 0 20,787,807 2,917,321 34,253,900 8,301,588 44,561,783 19,080,746
Cost of revenues:                        
Total cost of revenues 12,483,972 9,755,240 9,229,973 4,570,506 2,692,700 0 18,985,213 2,692,700 31,469,185 7,263,206 41,194,894 18,392,076
Other                        
Revenues:                        
Total revenues 186,337 139,899 183,745 264,255 257,739 347,018 323,644 604,757 509,981 869,012 717,472 1,009,830
Cost of revenues:                        
Total cost of revenues $ 137,359 $ 94,805 $ 133,142 $ 195,938 $ 189,421 $ 246,822 $ 227,947 $ 436,243 $ 365,306 $ 632,181 $ 517,988 $ 732,065