v3.22.2
Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
REVENUES $ 236,660 $ 144,148 $ 288,504 $ 602,288
COST OF REVENUE 193,075 116,397 233,166 244,728
GROSS PROFIT 43,585 27,751 55,338 357,560
OPERATING EXPENSES:        
Salaries & Benefits 1,184,818 985,348 2,476,828 1,832,520
Stock-Based Compensation 167,439 116,441 338,415 233,919
Operations and R&D Costs 146,885 280,700 290,303 477,040
Investor, Public Relations and Marketing 152,300 114,762 246,626 223,103
Organization Costs 60,817 158,529 119,566 236,145
Legal & Professional Service Fees 144,528 244,019 355,944 420,866
Office Expenses 303,600 151,871 509,032 300,096
Depreciation & Amortization 29,861 25,783 61,445 48,814
Other Operating Expenses 89,177 91,198 176,964 177,554
Total Operating Expenses 2,279,425 2,168,651 4,575,123 3,950,057
LOSS FROM OPERATIONS (2,235,840) (2,140,900) (4,519,785) (3,592,497)
OTHER INCOME (EXPENSE)        
Interest Income 1,176 7,018 2,747 7,073
Gain on Derivative Liability 290,156 1,092,441
State Incentives 76,628
Exchange Rate Gain (Loss) (10,436) 208 (10,766) 158
Interest Expense (2,070) (2,029) (3,389) (3,382)
Total Other Income (Expense) (11,330) 295,353 65,220 1,096,290
LOSS BEFORE PROVISION FOR INCOME TAXES (2,247,170) (1,845,547) (4,454,565) (2,496,207)
Provision for income Taxes
Net Loss (2,247,170) (1,845,547) (4,454,565) (2,496,207)
Preferred Dividends (14,220) (14,220) (28,440) (75,127)
Net Loss Applicable to Common Stockholders $ (2,261,390) $ (1,859,767) $ (4,483,005) $ (2,571,334)
Net Loss per Common Share – Basic and Diluted $ (0.22) $ (0.18) $ (0.43) $ (0.28)
Weighted Average Number of Shares Outstanding – Basic and Diluted 10,498,802 10,493,598 10,498,802 9,149,328

Source