v3.24.1.1.u2
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS)    
Product $ 9,398,776 $ 1,699,782
Post contract support 1,176,239 1,238,815
Total Revenues 10,575,015 2,938,597
COST OF NET REVENUES:    
Cost of Sales 7,789,409 1,578,166
Post contract support 157,479 556,152
Total cost of revenues 7,946,888 2,134,318
GROSS PROFIT 2,628,127 804,279
RESEARCH AND DEVELOPMENT EXPENSES 695,366 674,080
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 3,335,294 1,832,370
TOTAL OPERATING EXPENSES 4,030,660 2,506,450
OPERATING LOSS (1,402,533) (1,702,171)
OTHER INCOME (EXPENSE):    
Loss from change in fair value of earnout liability (21,484,850) 0
Loss from change in fair value of warrant liability (6,847,091) 0
Loss from change in fair value of convertible debt (2,039,377) 0
Loss on note conversion (158,794) 0
Interest expense (31,824) (5,064)
Other expense 0 (4,941)
Total other expense, net (30,561,936) (10,005)
LOSS BEFORE PROVISON FOR INCOME TAXES (31,964,469) (1,712,176)
Provision for income taxes 0 0
NET LOSS (31,964,469) (1,712,176)
OTHER COMPREHENSIVE LOSS    
Foreign currency translation gain, net 3,239 0
TOTAL COMPREHENSIVE LOSS $ (31,961,230) $ (1,712,176)
Basic and diluted loss per share $ (1.40) $ (0.08)
Weighted average shares of common stock outstanding- basic and diluted 22,898,487 22,812,048

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