v3.25.1
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited)    
Product $ 4,497,240 $ 9,398,776
Post contract support $ 998,051 1,176,239
Other services 7,737  
Revenues $ 5,503,028 10,575,015
COST OF NET REVENUES:    
Cost of Sales 2,923,087 7,789,409
Post contract support 312,021 157,479
Other services 32,916 0
Cost of Revenue 3,268,024 7,946,888
GROSS PROFIT 2,235,004 2,628,127
RESEARCH AND DEVELOPMENT EXPENSES 719,382 695,366
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 3,229,979 3,335,294
TOTAL OPERATING EXPENSES 3,949,361 4,030,660
OPERATING LOSS (1,714,357) (1,402,533)
Gain (loss) from change in fair value of earnout liability 9,823,605 (21,484,850)
Gain (loss) from change in fair value of warrant liability 15,521,183 (6,847,091)
Loss from change in fair value of convertible debt 0 (2,039,377)
Loss on note conversion 0 (158,794)
Interest Income (Expense), Operating (77,554) 31,824
Total other income (expense), net 25,422,342 (30,561,936)
INCOME (LOSS) BEFORE PROVISON FOR INCOME TAXES 23,707,985 (31,964,469)
Provision for income taxes 0 0
NET INCOME (LOSS) 23,707,985 (31,964,469)
Foreign currency translation (loss) income, net (7,409) 3,239
TOTAL COMPREHENSIVE INCOME (LOSS) $ 23,700,576 $ (31,961,230)
NET INCOME (LOSS) PER SHARE:    
Basic $ 0.75 $ (1.40)
Diluted $ 0.61 $ (1.40)
Weighted average shares of common stock outstanding    
Basic 31,704,117 22,898,487
Diluted 38,820,839 22,898,487

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