Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
Revenues:    
Total revenues and other income $ 67,029,934 $ 62,113,181
Total cost of revenues 52,824,215 47,353,295
Gross profit 14,205,719 14,759,886
Operating expenses:    
General and administrative 19,911,276 12,852,168
Stock-based compensation 2,571,785 1,840,913
Intangible asset amortization 1,059,779 271,549
Business development 3,299,864 0
Total operating expenses 26,842,704 14,964,630
Loss from operations (12,636,985) (204,744)
Non-operating income (expenses):    
Interest expense (54,579) (334,056)
Interest expense – beneficial conversion of notes payable 0 (636,075)
Interest income 329,012 23,566
Loss on extinguishment of debt 0 (790,723)
Contingent consideration (436,905) 0
Impairment loss (2,660,933) 0
PPP loan forgiveness 0 1,032,316
Other income (expense) (139,611) 34,049
Total non-operating income (expenses) (2,963,016) (670,923)
Loss before income taxes (15,600,001) (875,667)
Income tax benefit 322,092 0
Net loss (15,277,909) (875,667)
Comprehensive loss $ (15,277,909) $ (875,667)
Loss per share – basic (in dollars per share) $ (1.44) $ (0.09)
Loss per share – diluted (in dollars per share) $ (1.44) $ (0.09)
Weighted average shares – basic (in shares) 10,610,841 10,020,301
Weighted average shares – diluted (in shares) 10,610,841 10,020,301
Equipment systems    
Revenues:    
Total revenues and other income $ 33,333,574 $ 55,560,126
Total cost of revenues 27,963,258 42,195,136
Services    
Revenues:    
Total revenues and other income 12,862,308 5,043,764
Total cost of revenues 6,225,634 4,051,229
Construction design-build    
Revenues:    
Total revenues and other income 19,822,901 0
Total cost of revenues 17,905,172 0
Other    
Revenues:    
Total revenues and other income 1,011,151 1,509,291
Total cost of revenues $ 730,151 $ 1,106,930