Quarterly report pursuant to Section 13 or 15(d)

Condensed Statements of Operations (Unaudited)

v3.22.2.2
Condensed Statements of Operations (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
REVENUES $ 188,245 $ 700,237 $ 476,749 $ 1,302,525
COST OF REVENUE 79,713 164,766 312,879 409,493
GROSS PROFIT 108,532 535,471 163,870 893,032
OPERATING EXPENSES:        
Salaries & Benefits 1,227,805 1,222,760 3,704,633 3,055,279
Stock-Based Compensation 275,418 659,512 613,833 893,431
Operations and R&D Costs 152,245 131,772 442,548 608,812
Investor, Public Relations and Marketing 46,832 119,622 293,458 342,725
Organization Costs 140,522 342,112 260,088 578,256
Legal & Professional Service Fees 252,886 261,075 608,830 681,941
Office Expenses 183,608 172,238 692,640 472,335
Depreciation & Amortization 26,857 27,689 88,302 76,502
Other Operating Expenses 86,783 90,108 263,747 267,663
Total Operating Expenses 2,392,956 3,026,888 6,968,079 6,976,944
LOSS FROM OPERATIONS (2,284,424) (2,491,417) (6,804,209) (6,083,912)
OTHER INCOME (EXPENSE)        
Interest Income 278 2,981 3,025 10,053
State Incentives 76,628
Exchange Rate Loss (6,184) (490) (16,950) (333)
Interest Expense (1,978) (2,052) (5,367) (5,434)
Other Income 1,092,441
Total Other Income (Expense) (7,884) 439 57,336 1,096,727
LOSS BEFORE PROVISION FOR INCOME TAXES (2,292,308) (2,490,978) (6,746,873) (4,987,185)
Provision for income Taxes
Net Loss (2,292,308) (2,490,978) (6,746,873) (4,987,185)
Preferred Dividends (14,220) (14,220) (42,660) (89,347)
Net Loss Applicable to Common Stockholders $ (2,306,528) $ (2,505,198) $ (6,789,533) $ (5,076,532)
Net Loss per Common Share – Basic and Diluted $ (0.22) $ (0.24) $ (0.65) $ (0.53)
Weighted Average Number of Shares Outstanding – Basic and Diluted 10,498,802 10,494,560 10,498,802 9,602,666