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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Sales, net $ 23,061,285 $ 36,356,047 $ 82,140,204 $ 128,926,716
Cost of sales:        
Total cost of sales 18,324,659 22,961,178 58,189,057 67,893,878
Gross profit 4,736,626 13,394,869 23,951,147 61,032,838
Operating expenses:        
Sales and marketing 1,174,675 1,020,244 3,258,435 3,398,905
Research and development 105,749 199,200 407,675 747,525
General and administrative 4,146,821 4,209,836 13,311,488 12,824,957
Total operating expenses 5,427,245 5,429,280 16,977,598 16,971,387
Income (loss) from operations (690,619) 7,965,589 6,973,549 44,061,451
Gain on forgiveness of PPP loan       1,377,652
Other income - TIA 861,850   1,954,404  
Unrealized loss on equity securities (615,215) (373,574) (1,187,629)  
Interest and other income 105,661 54,911 201,152 1,014,348
Interest expense (40,273) (52,886) (125,746) (172,668)
Income (loss) before income taxes (378,596) 7,594,040 7,815,730 46,280,783
Provision (benefit) for income taxes (5,763,850) 1,072,155 (1,544,383) 11,140,889
Net income 5,385,254 6,521,885 9,360,113 35,139,894
Preferred Stock dividend requirements (58,111) (59,111) (174,333) (183,219)
Net income applicable to common shareholders $ 5,327,143 $ 6,462,774 $ 9,185,780 $ 34,956,675
Basic earnings per share $ 0.16 $ 0.19 $ 0.28 $ 1.03
Diluted earnings per share $ 0.16 $ 0.19 $ 0.28 $ 1.02
Weighted average common shares outstanding:        
Basic (in shares) 32,936,959 33,883,684 33,049,411 33,950,742
Diluted (in shares) 33,229,866 34,262,681 33,358,225 34,330,967
Costs of manufactured product        
Cost of sales:        
Total cost of sales $ 16,835,848 $ 20,663,651 $ 53,225,651 $ 60,074,349
Royalty expense to shareholder        
Cost of sales:        
Total cost of sales $ 1,488,811 $ 2,297,527 $ 4,963,406 $ 7,819,529