v3.20.2
Condensed Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
REVENUES $ 167,688 $ 33,582 $ 389,418 $ 98,032
COST OF REVENUE 57,684 60,625 302,387 157,180
GROSS PROFIT (LOSS) 110,004 (27,043) 87,031 (59,148)
OPERATING EXPENSES:        
Salaries & Benefits 605,295 581,356 1,257,492 1,093,916
Stock-Based Compensation 270,818 220,360 424,989 474,566
Operating R&D Costs 111,647 118,845 165,335 264,117
Investor & Public Relations 171,287 157,318 409,555 315,107
Legal & Professional Service Fees 219,007 218,919 430,515 403,489
Office Expenses 78,843 184,068 226,590 350,178
Depreciation & Amortization 17,970 49,203 35,983 97,586
Other Operating Expenses 51,687 38,994 135,736 77,203
Total Operating Expenses 1,526,554 1,569,064 3,086,195 3,076,162
LOSS FROM OPERATIONS (1,416,550) (1,596,107) (2,999,164) (3,135,310)
OTHER INCOME (EXPENSE)        
Interest Income 31 7,016 882 12,798
State Incentives 151,657 151,657 51,877
Exchange Rate Gain (Loss) (31) (2,264) (1,422) (2,710)
Interest Expense (6,244) (2,136) (6,675) (4,258)
Loss on Dissolution of Joint Venture (201) (201)
Other Income 361,700 361,700
Total Other Income (Expense) 506,912 2,616 505,941 57,707
LOSS BEFORE PROVISION FOR INCOME TAXES (909,638) (1,593,491) (2,493,223) (3,077,603)
Provision for income Taxes
Net Loss (909,638) (1,593,491) (2,493,223) (3,077,603)
Preferred Dividends (691,880) (1,007,127)
Net Loss Applicable to Common Stockholders $ (1,601,518) $ (1,593,491) $ (3,500,350) $ (3,077,603)
Net Loss per Common Share - Basic and Diluted $ (0.49) $ (1.5) $ (1.48) $ (3.1)
Weighted Average Number of Shares Outstanding - Basic and Diluted 3,256,098 1,077,759 2,359,862 1,006,381

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