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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2023
Jun. 30, 2022
Jun. 30, 2023
Jun. 30, 2022
Sales, net $ 7,971,280 $ 14,336,569 $ 18,972,382 $ 59,078,919
Cost of sales:        
Total cost of sales 7,594,373 10,689,969 15,725,946 39,864,398
Gross profit 376,907 3,646,600 3,246,436 19,214,521
Operating expenses:        
Sales and marketing 1,545,453 1,065,877 2,895,624 2,083,761
Research and development 138,761 206,388 268,518 301,926
General and administrative 3,725,463 4,436,186 7,855,487 9,164,667
Total operating expenses 5,409,677 5,708,451 11,019,629 11,550,354
Income (loss) from operations (5,032,770) (2,061,851) (7,773,193) 7,664,167
Other income - TIA 1,474,019 737,465 3,031,798 1,092,554
Unrealized gain (loss) on debt and equity securities (6,251,650) (3,903,523) (4,759,639) (572,414)
Gain (loss) on sale of equity securities 4,828,529   5,574,791 (38,378)
Interest and other income 218,651 60,579 428,466 95,491
Interest expense (37,469) (38,368) (81,024) (85,473)
Income (loss) before income taxes (4,800,690) (5,205,698) (3,578,801) 8,194,325
Provision (benefit) for income taxes (932,122) (1,564,101) (701,205) 4,219,467
Net income (loss) (3,868,568) (3,641,597) (2,877,596) 3,974,858
Preferred Stock dividend requirements (58,111) (58,111) (116,222) (116,222)
Net income (loss) applicable to common shareholders $ (3,926,679) $ (3,699,708) $ (2,993,818) $ 3,858,636
Basic earnings (loss) per share $ (0.13) $ (0.11) $ (0.10) $ 0.12
Diluted earnings (loss) per share $ (0.13) $ (0.11) $ (0.10) $ 0.12
Weighted average common shares outstanding:        
Basic (in shares) 29,937,159 32,945,821 29,937,159 33,105,637
Diluted (in shares) 30,169,604 33,256,588 30,169,604 33,426,429
Costs of manufactured product        
Cost of sales:        
Total cost of sales $ 6,940,895 $ 9,783,565 $ 14,302,759 $ 36,389,803
Royalty expense to shareholder        
Cost of sales:        
Total cost of sales $ 653,478 $ 906,404 $ 1,423,187 $ 3,474,595