Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.21.1
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenue    
Total Revenue $ 25,837,917 $ 24,189,803
Cost of revenue 20,122,281 17,563,594
Gross profit 5,715,636 6,626,209
Operating expenses    
Marketing 313,784 1,016,073
General and administrative 6,344,119 9,207,737
General and administrative - amortization of broker issuing costs and broker warrants associated with convertible debentures 432,578
Stock-based compensation 1,803,403 1,830,426
Total operating expenses 8,461,306 12,486,814
Loss from operations (2,745,670) (5,860,605)
Non-operating income (expenses):    
Interest expense (1,497,469) (704,230)
Interest expense - amortization of warrants and conversion price associated with convertible debentures (1,333,520)
Contingent consideration (155,000)
Impairment loss on investment (310,000) (505,766)
Unrealized exchange loss (397,292)
Other income, net 31,736 53,548
Total non-operating expenses (2,328,025) (2,489,968)
Loss before income taxes (5,073,695) (8,350,573)
Income tax expense
Net income (loss) (5,073,695) (8,350,573)
Comprehensive income (loss) $ (5,073,695) $ (8,350,573)
Earnings (loss) per share    
Net loss per share - basic and diluted $ (1.06) $ (1.90)
Weighted average outstanding shares - basic and diluted 4,766,294 4,386,343
Equipment Systems [Member]    
Revenue    
Total Revenue $ 22,058,696 $ 18,383,440
Services [Member]    
Revenue    
Total Revenue 1,902,969 3,167,237
Consumable Products [Member]    
Revenue    
Total Revenue $ 1,876,252 $ 2,639,126