Annual report pursuant to Section 13 and 15(d)

Statements of Operations

v3.19.1
Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Revenues, Net of Allowances    
Total Revenues, Net of Allowances $ 15,289,400 $ 14,201,836
Cost of Goods Sold    
Total Cost of Goods Sold 11,794,206 10,234,838
Gross Profit 3,495,194 3,966,998
Operating Expenses    
Selling, general and administrative 6,937,704 6,070,868
Litigation expense 1,192,488
Research and development 1,816,389 1,675,093
Total Operating Expenses 9,946,581 7,745,961
Operating Loss (6,451,387) (3,778,963)
Other Income (Expense)    
Inducement cost for debt conversions (3,542,161)
Amortization of debt issuances and debt discounts (2,202,617) (1,089,204)
Change in the fair value of warrant derivative (14,336,425)
Interest expense (1,118,822) (1,073,290)
Total Other Income (Expense) (21,200,025) (2,162,494)
Net Loss Before Income Taxes (27,651,412) (5,941,457)
Income taxes
Net Loss (27,651,412) (5,941,457)
Accretion of Redeemable Convertible Preferred Stock Dividend (3,667,620)
Common Stock Deemed Dividend 980,375
Net Loss Attributable to Common Stockholders $ (32,299,407) $ (5,941,457)
Basic and Diluted Net Loss Per Share $ (7.22) $ (1.61)
Weighted Average Number of Shares Outstanding - Basic and Diluted 4,476,403 3,679,500
Metal Goods [Member]    
Revenues, Net of Allowances    
Total Revenues, Net of Allowances $ 7,174,618 $ 6,470,877
Cost of Goods Sold    
Total Cost of Goods Sold 5,897,354 4,892,078
Soft Goods [Member]    
Revenues, Net of Allowances    
Total Revenues, Net of Allowances 8,114,782 7,730,959
Cost of Goods Sold    
Total Cost of Goods Sold $ 5,896,852 $ 5,342,760