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CONDENSED STATEMENTS OF OPERATIONS - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Sales, net $ 10,346,857 $ 10,335,031 $ 23,975,584 $ 29,307,413
Cost of sales:        
Total cost of sales 10,361,667 6,014,350 22,509,389 21,740,297
Gross profit (loss) (14,810) 4,320,681 1,466,195 7,567,116
Operating expenses:        
Sales and marketing 1,749,123 1,368,112 4,658,465 4,263,735
Research and development 174,695 150,957 516,050 419,475
General and administrative 3,197,116 3,737,479 10,176,367 11,592,965
Total operating expenses 5,120,934 5,256,548 15,350,882 16,276,175
Loss from operations (5,135,744) (935,867) (13,884,687) (8,709,059)
Other income - TIA 1,469,688 1,447,975 4,429,383 4,479,773
Unrealized gain (loss) on debt and equity securities 1,449,825 (6,538,568) 1,402,660 (11,298,207)
Gain on sale of equity securities       5,574,791
Interest and other income 293,550 768,863 855,387 1,197,329
Interest expense (30,489) (36,087) (95,789) (117,110)
Loss before income taxes (1,953,170) (5,293,684) (7,293,046) (8,872,483)
Provision (benefit) for income taxes (31,181) (1,233,188) 8,364,200 (1,934,393)
Net loss (1,921,989) (4,060,496) (15,657,246) (6,938,090)
Preferred Stock dividend requirements (57,611) (58,111) (172,832) (174,335)
Net loss applicable to common shareholders $ (1,979,600) $ (4,118,607) $ (15,830,078) $ (7,112,425)
Basic loss per share $ (0.07) $ (0.14) $ (0.53) $ (0.24)
Diluted loss per share $ (0.07) $ (0.14) $ (0.53) $ (0.24)
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 29,937,159 29,937,159 29,937,159
Cost of manufactured product        
Cost of sales:        
Total cost of sales $ 9,477,097 $ 5,219,962 $ 20,379,228 $ 19,522,722
Royalty expense to shareholder        
Cost of sales:        
Total cost of sales $ 884,570 $ 794,388 $ 2,130,161 $ 2,217,575