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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenue:        
Total revenue $ 3,283,469 $ 4,436,400 $ 10,370,542 $ 11,116,199
Cost of revenue:        
Total cost of revenue 442,285 415,958 1,532,033 1,359,564
Gross profit 2,841,184 4,020,442 8,838,509 9,756,635
Operating expenses:        
Research and development costs 711,273 600,430 2,032,360 1,809,354
Selling and marketing 1,610,635 1,026,241 4,267,010 3,027,372
General and administrative 633,954 358,701 2,129,921 2,297,451
Gain (Loss) Related to Litigation Settlement (632,600) 0 (632,600) 0
Restructuring costs 68,704 317,595 792,754 758,740
Total operating expenses 2,391,966 2,302,967 8,589,445 7,892,917
Operating income (loss) 449,218 1,717,475 249,064 1,863,718
Gain on debt extinguishment 0 0 754,000 0
Interest and other expense (58,257) (159,994) (489,264) (586,082)
Income (loss) before income taxes 390,961 1,557,481 513,800 1,277,636
Income tax expense (benefit) 16,529 11,272 63,804 44,709
Net income (loss) 374,432 1,546,209 449,996 1,232,927
Less: Accrual of Series A redeemable convertible preferred stock dividends 288,802 266,007 848,898 812,362
Less: Accretion to redemption value of Series A redeemable convertible preferred stock 13,517 175,335 285,814 366,566
Net income (loss) attributable to common stockholders $ 72,113 $ 1,104,867 $ (684,716) $ 53,999
Basic net income (loss) per share attributable to common stockholders $ 0.01 $ 0.19 $ (0.11) $ 0.01
Diluted net income (loss) per share attributable to common stockholders $ 0.01 $ 0.19 $ (0.11) $ 0.01
Weighted average basic shares outstanding 6,990,723 5,919,837 6,324,370 5,919,773
Weighted average diluted shares outstanding 7,039,421 5,959,385 6,324,370 5,943,794
Product revenue        
Revenue:        
Total revenue $ 1,547,013 $ 2,521,695 $ 5,288,747 $ 5,202,713
Cost of revenue:        
Total cost of revenue 41,351 48,895 298,966 250,185
Support and services revenue        
Revenue:        
Total revenue 1,736,456 1,914,705 5,081,795 5,913,486
Cost of revenue:        
Total cost of revenue $ 400,934 $ 367,063 $ 1,233,067 $ 1,109,379