Income Statement
Financial Information
- Overview
- Balance Sheet
- Income Statement
- Cash Flow
- Financial Results
Condensed Consolidated Statements of Operations and Comprehensive Loss (Unaudited) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2022 |
Jun. 30, 2021 |
Jun. 30, 2022 |
Jun. 30, 2021 |
|
| Revenue | $ 1,795,000 | $ 1,654,000 | $ 3,436,000 | $ 3,104,000 |
| Cost of revenue | 1,501,000 | 1,489,000 | 2,822,000 | 2,557,000 |
| Gross profit | 294,000 | 165,000 | 614,000 | 547,000 |
| Operating expenses: | ||||
| Research and development | 1,921,000 | 2,180,000 | 4,061,000 | 4,110,000 |
| Selling, general and administrative | 3,393,000 | 2,930,000 | 7,046,000 | 6,511,000 |
| Total operating expenses | 5,314,000 | 5,110,000 | 11,107,000 | 10,621,000 |
| Loss from operations | (5,020,000) | (4,945,000) | (10,493,000) | (10,074,000) |
| Gain on forgiveness of Paycheck Protection Program loan | 0 | 1,358,000 | 0 | 1,358,000 |
| Modification of warrants | 0 | (86,000) | 0 | (373,000) |
| Interest expense, net | (284,000) | (245,000) | (554,000) | (479,000) |
| Other expense, net | (40,000) | (53,000) | (61,000) | (118,000) |
| Net loss from consolidated companies | (5,344,000) | (3,971,000) | (11,108,000) | (9,686,000) |
| Impairment loss on investment in unconsolidated limited liability company | (455,000) | 0 | (455,000) | 0 |
| Loss from investment in unconsolidated limited liability company | 0 | (79,000) | (122,000) | (155,000) |
| Comprehensive and net loss | (5,799,000) | (4,050,000) | (11,685,000) | (9,841,000) |
| Series B convertible preferred stock dividends | (1,305,000) | (1,119,000) | (2,571,000) | (2,273,000) |
| Net loss attributable to common stockholders | $ (7,104,000) | $ (5,169,000) | $ (14,256,000) | $ (12,114,000) |
| Net loss per share of common stock: | ||||
| Basic and diluted (in dollars per share) | $ (0.67) | $ (0.49) | $ (1.34) | $ (1.27) |
| Weighted average shares used in computing net loss per common share: | ||||
| Basic and diluted (in shares) | 10,640,806 | 10,501,057 | 10,630,498 | 9,573,740 |
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- Definition The 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. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- References No definition available.
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- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition This item represents an other than temporary decline in value that has been recognized against an investment accounted for under the equity method of accounting. The excess of the carrying amount over the fair value of the investment represents the amount of the write down which is or was reflected in earnings. The written down value is a new cost basis with the adjusted value of the investment becoming its new carrying value subject to the equity accounting method. Evidence of a loss in value might include, but would not necessarily be limited to, absence of an ability to recover the carrying amount of the investment or inability of the investee to sustain an earnings capacity which would justify the carrying amount of the investment. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of expense (income) related to adjustment to fair value of warrant liability. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Difference between the fair value of payments made and the carrying amount of debt which is extinguished prior to maturity. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Aggregate revenue less cost of goods and services sold or operating expenses directly attributable to the revenue generation activity. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (loss) from continuing operations before deduction of income tax expense (benefit) and income (loss) attributable to noncontrolling interest, and addition of income (loss) from equity method investments. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of income (loss) for proportionate share of equity method investee's income (loss). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
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- References No definition available.
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- Definition The net result for the period of deducting operating expenses from operating revenues. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The amount of preferred stock dividends that is an adjustment to net income apportioned to common stockholders. No definition available.
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- Definition The aggregate costs incurred (1) in a planned search or critical investigation aimed at discovery of new knowledge with the hope that such knowledge will be useful in developing a new product or service, a new process or technique, or in bringing about a significant improvement to an existing product or process; or (2) to translate research findings or other knowledge into a plan or design for a new product or process or for a significant improvement to an existing product or process whether intended for sale or the entity's use, during the reporting period charged to research and development projects, including the costs of developing computer software up to the point in time of achieving technological feasibility, and costs allocated in accounting for a business combination to in-process projects deemed to have no alternative future use. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The information pertaining to the number of shares for earnings per share. No definition available.
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