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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenue:        
Total revenue $ 2,394,335 $ 3,258,747 $ 4,443,442 $ 7,087,073
Cost of revenue:        
Total cost of revenue 398,410 440,741 813,678 1,089,748
Gross profit 1,995,925 2,818,006 3,629,764 5,997,325
Operating expenses:        
Research and development costs 655,524 661,147 1,361,505 1,321,087
Selling and marketing 1,124,498 1,259,735 2,314,344 2,656,375
General and administrative 724,066 658,100 1,574,005 1,495,967
Restructuring costs 0 421,737 744 724,050
Total operating expenses 2,504,088 3,000,719 5,250,598 6,197,479
Operating income (loss) (508,163) (182,713) (1,620,834) (200,154)
Gain on debt extinguishment 0 0 0 754,000
Interest and other expense (201,236) (176,928) (319,231) (460,576)
Income (loss) before income taxes (709,399) (359,641) (1,940,065) 93,270
Income tax expense (benefit) 221,827 2,659 100,567 47,275
Net income (loss) (931,226) (362,300) (2,040,632) 45,995
Less: Accrual of Series A redeemable convertible preferred stock dividends 338,428 282,926 639,349 560,096
Less: Accretion to redemption value of Series A redeemable convertible preferred stock 35,582 75,183 50,397 272,297
Net income (loss) attributable to common stockholders $ (1,305,236) $ (720,409) $ (2,730,378) $ (786,398)
Basic net income (loss) per share attributable to common stockholders $ (0.18) $ (0.12) $ (0.39) $ (0.13)
Diluted net income (loss) per share attributable to common stockholders $ (0.18) $ (0.12) $ (0.39) $ (0.13)
Weighted average basic shares outstanding 7,090,885 6,021,483 7,086,605 5,985,672
Weighted average diluted shares outstanding 7,090,885 6,021,483 7,086,605 5,985,672
Product revenue        
Revenue:        
Total revenue $ 962,898 $ 1,602,005 $ 1,557,826 $ 3,741,734
Cost of revenue:        
Total cost of revenue 24,588 34,781 45,307 257,615
Support and services revenue        
Revenue:        
Total revenue 1,431,437 1,656,742 2,885,616 3,345,339
Cost of revenue:        
Total cost of revenue $ 373,822 $ 405,960 $ 768,371 $ 832,133