Annual report pursuant to Section 13 and 15(d)

Statements of Operations

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Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Income Statement [Abstract]    
REVENUES $ 402,446 $ 388,574
COST OF REVENUE 574,301 270,107
GROSSPROFIT (LOSS) (171,855) 118,467
EXPENSES:    
Salaries & Benefits 2,354,329 2,056,584
Stock-Based Compensation 797,240 1,145,530
Operating R&D Costs 647,994 493,410
Investor & Public Relations 703,710 633,035
Legal & Professional Service Fees 664,403 564,854
Office Expenses 692,881 466,657
Depreciation & Amortization 192,569 192,374
Other Operating Expenses 158,706 134,827
Total Operating Expenses 6,211,830 5,687,271
LOSS FROM OPERATIONS (6,383,685) (5,568,804)
OTHER INCOME (EXPENSE)    
Interest Income 18,760 35,178
State Incentives 51,877
Bad Debt Expense (2,500)
Exchange Rate Gain (Loss) (4,879) 162
Other Income 8,263
Interest Expense (8,685) (3,966)
Loss on Disposal of Assets (36,733)
Total Other Income (Expense) 62,836 (5,359)
LOSS BEFORE PROVISION FOR INCOME TAXES (6,320,849) (5,574,163)
Provision for Income Taxes
Net Loss (6,320,849) (5,574,163)
Preferred Dividends (15,125)
Net Loss applicable to Common Stockholders $ (6,320,849) $ (5,589,288)
Net Loss per Common Share - Basic and Diluted $ (5.37) $ (8.10)
Weighted Average Number of Shares Outstanding - Basic and Diluted 1,176,278 689,805