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CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) (Unaudited)        
Product $ 5,358,808 $ 1,805,163 $ 14,757,584 $ 3,639,329
Post contract support 1,042,223 964,855 2,218,462 2,069,286
Revenues 6,401,031 2,770,018 16,976,046 5,708,615
COST OF NET REVENUES:        
Cost of Sales 1,306,386 557,792 9,095,795 2,135,958
Post contract support 588,438 538,889 745,917 1,095,040
Cost of Revenue 1,894,824 1,096,681 9,841,712 3,230,999
GROSS PROFIT 4,506,207 1,673,337 7,134,334 2,477,616
RESEARCH AND DEVELOPMENT EXPENSES 702,771 665,203 1,398,137 1,339,283
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES 2,827,120 4,092,646 6,162,414 5,925,016
TOTAL OPERATING EXPENSES 3,529,891 4,757,849 7,560,551 7,264,299
OPERATING INCOME (LOSS) 976,316 (3,084,512) (426,217) (4,786,683)
OTHER INCOME (EXPENSE):        
Gain (loss) from change in fair value of earnout liability 14,876,927 0 (6,607,923) 0
Gain (loss) from change in fair value of warrant liability 1,542,347 0 (5,304,744) 0
Gain (loss) from change in fair value of convertible debt 1,527,193 0 (512,184) 0
Loss on note conversion 0 0 (158,794) 0
Interest expense, net (421,500) (19,005) (453,324) (19,005)
Other (expense) income (39,288) (238) (39,288) (9,767)
Total other income (expense), net 17,485,679 (18,767) (13,076,257) (28,772)
INCOME (LOSS) BEFORE PROVISON FOR INCOME TAXES 18,461,995 (3,103,279) (13,502,474) (4,815,455)
Provision for income taxes 0 0 0 0
NET INCOME (LOSS) 18,461,995 (3,103,279) (13,502,474) (4,815,455)
OTHER COMPREHENSIVE INCOME        
Foreign currency translation income, net 3,239 0 8,984 42,551
TOTAL COMPREHENSIVE INCOME (LOSS) $ 18,465,234 $ (3,103,279) $ (13,493,490) $ (4,772,904)
NET INCOME (LOSS) PER SHARE:        
Basic $ 0.80 $ (0.14) $ (0.59) $ (0.21)
Diluted $ 0.58 $ (0.14) $ (0.59) $ (0.21)
Weighted average shares of common stock outstanding        
Basic 23,220,709 22,812,048 23,059,598 22,812,048
Diluted 30,272,228 22,812,048 23,059,598 22,812,048

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