• Filing Date: 2017-08-21
  • Form Type: 10-Q
  • Description: Quarterly report
v3.7.0.1
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Net revenues $ 1,146,355 $ 1,377,431
Cost of sales 456,545 508,324
Gross Profit 689,810 869,107
Operating expenses:    
Research and development 149,957 20,401
Selling, general and administrative 364,371 326,210
Depreciation and amortization 7,491 1,452
Total operating expenses 521,819 348,063
Income from operations 167,991 521,044
Other income (expense):    
Interest income 1,620 698
Interest expense (728) (512)
Total other income (expense) 892 186
Income before provision for income taxes 168,883 521,230
Provision for income taxes:    
Current 2,000
Deferred 75,000
Total provision for income taxes 77,000
Net income $ 91,883 $ 521,230
Basic and diluted earnings per common share: (in dollars per share) $ 0 $ 0.01
Weighted average shares of common stock outstanding - basic (in shares) 67,588,492 67,008,502
Weighted average shares of common stock outstanding - diluted (in shares) 67,588,492 67,008,502