v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
|
12 Months Ended |
|
|
CONSOLIDATED STATEMENTS OF OPERATIONS [Abstract] |
|
|
Net revenues |
$ 42,592,060
|
$ 31,803,387
|
Cost of sales |
11,805,202
|
10,146,565
|
Gross profit |
30,786,858
|
21,656,822
|
Operating expenses: |
|
|
Research and development |
16,935,222
|
13,743,826
|
Selling, general and administrative |
14,498,330
|
14,348,890
|
Impairment of intangible assets |
14,100,000
|
|
Total operating expenses |
45,533,552
|
28,092,716
|
Operating loss |
(14,746,694)
|
(6,435,894)
|
Non-operating (expenses) income: |
|
|
Interest expense |
(4,621,422)
|
(4,706,056)
|
Change in fair value of derivative liabilities |
(557,000)
|
(1,199,000)
|
Other (expense) income, net |
(126,860)
|
19,651
|
Total non-operating expenses |
(5,305,282)
|
(5,885,405)
|
Loss before income taxes |
(20,051,976)
|
(12,321,299)
|
Income tax benefit |
(1,078,441)
|
(303,933)
|
Net loss |
$ (18,973,535)
|
$ (12,017,366)
|
Net loss per basic and diluted common share outstanding |
$ (0.28)
|
$ (0.19)
|
Basic and diluted weighted average common shares outstanding |
66,753,450
|
63,323,127
|
X |
- DefinitionThe aggregate costs related to goods produced and sold and services rendered by an entity during the reporting period. This excludes costs incurred during the reporting period related to financial services rendered and other revenue generating activities.
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