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Consolidated Statements of Comprehensive Income (Loss) - USD ($)
3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2019
Sep. 30, 2019
Jun. 30, 2019
Mar. 31, 2019
Dec. 31, 2018
Sep. 30, 2018
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2018
Sep. 30, 2018
Dec. 31, 2019
Dec. 31, 2018
[1]
Dec. 31, 2017
[1]
Consolidated Statements of Comprehensive Income (Loss) [Abstract]                          
Net sales       $ 20,941,322   $ 18,878,263 $ 19,187,222 $ 20,500,578 $ 39,687,800 $ 58,566,063 $ 74,918,160 $ 83,203,569 $ 82,420,595
Cost of sales       8,696,652   6,982,380 6,953,730 7,811,518 14,765,248 21,747,628 32,958,708 32,262,624 33,334,934
Gross profit (loss) $ 11,495,688 $ 8,848,648 $ 9,370,446 12,244,670 $ 14,122,510 11,895,883 12,233,492 12,689,060 24,922,552 36,818,435 41,959,452 50,940,945 49,085,661
Operating expenses       10,031,653   10,995,989 10,651,386 10,634,923 21,286,309 32,282,298 43,555,826 44,692,265 42,708,942
Impairment expense                     1,001,835 285,477 0
Income (loss) from operations       2,213,017   899,894 1,582,106 2,054,137 3,636,243 4,536,137 (2,598,209) 5,963,203 6,376,719
Other (income) expense:                          
Interest expense       32,383   80,710 78,182 64,642 142,824 223,534 36,260 304,957 205,555
Other, net       109,618   (40,846) (131,842) (153,378) (285,220) (326,066) (40,225) (553,573) (167,112)
Total other (income) expense       142,001   39,864 (53,660) (88,736) (142,396) (102,532) (3,965) (248,616) 38,443
Income (loss) before income taxes       2,071,016   860,030 1,635,766 2,142,873 3,778,639 4,638,669 (2,594,244) 6,211,819 6,338,276
Provision (benefit) for income taxes       551,205   251,329 478,023 626,217 1,104,240 1,355,569 (690,463) 1,813,454 3,859,832
Net income (loss) $ (829,473) $ (1,718,452) $ (875,667) 1,519,811 $ 1,115,265 608,701 1,157,743 1,516,656 2,674,399 3,283,100 (1,903,781) [2] 4,398,365 2,478,444
Foreign currency translation adjustments, net of tax       314,493   88,624 (284,774) (58,992) (343,766) (255,142) 363,639 (681,872) 411,427
Comprehensive income (loss)       $ 1,834,304   $ 697,325 $ 872,969 $ 1,457,664 $ 2,330,633 $ 3,027,958 $ (1,540,142) $ 3,716,493 $ 2,889,871
Net income (loss) per common share:                          
Basic (in dollars per share) $ (0.09) $ (0.19) $ (0.10) $ 0.17 $ 0.12 $ 0.07 $ 0.13 $ 0.16 $ 0.29 $ 0.36 $ (0.21) $ 0.48 $ 0.27
Diluted (in dollars per share) $ (0.09) [3] $ (0.19) [3] $ (0.10) [3] $ 0.17 [3] $ 0.12 $ 0.07 $ 0.13 $ 0.16 $ 0.29 $ 0.36 $ (0.21) $ 0.48 $ 0.27
Weighted average number of shares outstanding:                          
Basic (in shares) 9,020,187 8,932,246 8,933,648 9,009,752 9,143,746 9,154,215 9,180,076 9,264,446 9,222,028 9,199,173 8,973,246 [2] 9,185,203 9,242,092
Diluted (in shares) 9,020,187 8,932,246 8,933,648 9,011,107 9,144,020 9,160,022 9,182,527 9,264,604 9,223,086 9,201,577 8,973,246 [2] 9,205,008 9,245,537
[1] As described in Note 2 to these Consolidated Financial Statements, we have restated the Consolidated Financial Statements.
[2] For the year ended December 31, 2019, there were 9,203 shares excluded from the diluted EPS calculation because the impact of their assumed vesting would be anti-dilutive due to a net loss in that period.
[3] For the three months ended June 30, 2019, September 31, 2019 and December 31, 2019, there were 2,290, 2,704 and 8,387 shares, respectively, excluded from the diluted EPS calculation because the impact of their assumed exercise would be anti-dilutive due to a net loss in those periods.