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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Sales, net $ 42,496,944 $ 11,573,845 $ 92,570,669 $ 22,776,062
Cost of sales        
Total cost of sales 22,853,762 7,900,099 44,932,700 15,571,882
Gross profit 19,643,182 3,673,746 47,637,969 7,204,180
Operating expenses:        
Sales and marketing 1,447,430 851,898 2,378,661 1,987,878
Research and development 399,042 126,255 548,325 264,792
General and administrative 5,121,885 1,735,718 8,615,121 3,510,922
Total operating expenses 6,968,357 2,713,871 11,542,107 5,763,592
Income from operations 12,674,825 959,875 36,095,862 1,440,588
Gain on forgiveness of PPP loan 1,377,652   1,377,652  
Interest and other income (loss) 138,232 1,110,217 1,333,011 968,800
Interest expense (54,687) (35,986) (119,782) (69,835)
Income before income taxes 14,136,022 2,034,106 38,686,743 2,339,553
Provision (benefit) for income taxes 3,473,897 (1,732,007) 10,068,734 (1,749,333)
Net income 10,662,125 3,766,113 28,618,009 4,088,886
Preferred Stock dividend requirements (59,170) (174,148) (124,108) (348,291)
Income applicable to common shareholders $ 10,602,955 $ 3,591,965 $ 28,493,901 $ 3,740,595
Basic earnings per share $ 0.31 $ 0.11 $ 0.84 $ 0.11
Diluted earnings per share $ 0.31 $ 0.11 $ 0.83 $ 0.11
Weighted average common shares outstanding:        
Basic (in shares) 34,000,771 32,789,047 33,984,271 32,735,126
Diluted (in shares) 34,376,335 32,985,381 34,365,092 32,856,003
Costs of manufactured product        
Cost of sales        
Total cost of sales $ 20,253,357 $ 6,948,567 $ 39,410,698 $ 13,751,242
Royalty expense to shareholder        
Cost of sales        
Total cost of sales $ 2,600,405 $ 951,532 $ 5,522,002 $ 1,820,640