Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.23.3
Condensed Consolidated Statements of Operations - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Revenues, net of allowances        
Total revenues, net of allowances $ 20,630,207 $ 30,245,251 $ 59,722,486 $ 65,353,651
Cost of Goods Sold        
Total cost of goods sold 15,717,233 22,328,094 45,411,269 49,484,951
Gross profit 4,912,974 7,917,157 14,311,217 15,868,700
Operating expenses:        
Selling, general and administrative expenses 12,572,066 14,676,135 42,618,510 45,106,976
Research and development 2,916,349 2,781,676 9,357,273 8,050,481
Total operating expenses 15,488,815 17,457,811 51,975,783 53,157,457
Loss from operations (10,575,441) (9,540,654) (37,664,566) (37,288,757)
Other income (expense)        
Warrant issuance costs (186,450) (969,791) (538,218) (1,415,229)
Change in fair value of warrant and preferred investment option liabilities 3,033,537 19,065,297 17,761,007 23,111,029
Inducement expense (6,373,353)   (6,373,353)  
Interest expense (146,867) (548,422) (1,433,975) (640,603)
Total other income (3,673,133) 17,547,084 9,415,461 21,055,197
Net income (loss) (14,248,574) 8,006,430 (28,249,105) (16,233,560)
Common stock deemed dividend   (7,467,200)   (7,467,200)
Net income (loss) attributable to common stockholders $ (14,248,574) $ 539,230 $ (28,249,105) $ (23,700,760)
Basic net income (loss) per share attributed to common stockholders $ (0.46) $ 0.05 $ (1.37) $ (5.42)
Basic weighted average common shares outstanding 31,298,034 10,872,412 20,663,732 4,376,175
Diluted net income (loss) per share attributed to common stockholders $ (0.46) $ 0.03 $ (1.37) $ (5.42)
Diluted weighted average common shares outstanding 31,298,034 19,721,339 20,663,732 4,376,175
Metal goods [Member]        
Revenues, net of allowances        
Total revenues, net of allowances $ 12,754,504 $ 19,226,191 $ 30,475,518 $ 34,354,744
Cost of Goods Sold        
Total cost of goods sold 10,351,690 14,923,322 25,732,707 28,041,096
Soft goods [Member]        
Revenues, net of allowances        
Total revenues, net of allowances 6,035,706 8,239,785 25,938,923 27,258,989
Cost of Goods Sold        
Total cost of goods sold 3,646,862 4,868,601 16,528,326 18,011,023
Electronic goods [Member]        
Revenues, net of allowances        
Total revenues, net of allowances 1,839,997 2,779,275 3,308,045 3,739,918
Cost of Goods Sold        
Total cost of goods sold $ 1,718,681 $ 2,536,171 $ 3,150,236 $ 3,432,832