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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Sales, net $ 6,029,364 $ 7,971,280 $ 13,628,727 $ 18,972,382
Cost of sales:        
Total cost of sales 6,449,288 7,594,373 12,147,722 15,725,946
Gross profit (loss) (419,924) 376,907 1,481,005 3,246,436
Operating expenses:        
Sales and marketing 1,474,600 1,545,453 2,909,342 2,895,624
Research and development 199,093 138,761 341,355 268,518
General and administrative 3,669,189 3,725,463 6,979,251 7,855,487
Total operating expenses 5,342,882 5,409,677 10,229,948 11,019,629
Loss from operations (5,762,806) (5,032,770) (8,748,943) (7,773,193)
Other income - TIA 1,475,075 1,474,019 2,959,695 3,031,798
Unrealized loss on debt and equity securities (1,779,814) (6,251,650) (47,165) (4,759,639)
Gain on sale of equity securities   4,828,529   5,574,791
Interest and other income 244,518 218,651 561,839 428,466
Interest expense (31,817) (37,469) (65,300) (81,024)
Loss before income taxes (5,854,844) (4,800,690) (5,339,874) (3,578,801)
Provision (benefit) for income taxes 8,309,796 (932,122) 8,395,382 (701,205)
Net loss (14,164,640) (3,868,568) (13,735,256) (2,877,596)
Preferred Stock dividend requirements (57,611) (58,111) (115,222) (116,222)
Net loss applicable to common shareholders $ (14,222,251) $ (3,926,679) $ (13,850,478) $ (2,993,818)
Basic loss per share $ (0.48) $ (0.13) $ (0.46) $ (0.10)
Diluted loss per share $ (0.48) $ (0.13) $ (0.46) $ (0.10)
Weighted average common shares outstanding:        
Basic (in shares) 29,937,159 29,937,159 29,937,159 29,937,159
Diluted (in shares) 29,937,159 30,169,604 29,937,159 30,169,604
Cost of manufactured product        
Cost of sales:        
Total cost of sales $ 5,853,085 $ 6,940,895 $ 10,902,131 $ 14,302,759
Royalty expense to shareholder        
Cost of sales:        
Total cost of sales $ 596,203 $ 653,478 $ 1,245,591 $ 1,423,187