Quarterly report pursuant to Section 13 or 15(d)

Consolidated Statements of Operations and Comprehensive Income (Loss)

v3.22.2.2
Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Income Statement [Abstract]        
Revenue $ 10,347,735 $ 11,689,949 $ 22,583,721 $ 25,847,277
Costs and Expenses        
Selling expenses 7,868,719 9,616,584 17,154,951 20,278,399
General and administrative expenses 4,771,258 4,754,944 9,780,642 8,900,154
Restructuring and severance expenses 1,205,689 1,205,689
Total Costs and Expenses 13,845,666 14,371,528 28,141,282 29,178,553
Loss from Operations (3,497,931) (2,681,579) (5,557,561) (3,331,276)
Other (Expenses) Income        
Interest expense, net of interest income (9,678) (2,194) (13,537) (10,043)
Amortization of debt discount (12,833)
Other income 29,103 89,018 68,852 370,362
Changes in fair value of contingent purchase consideration (465,761) (915,774)
Other expense (9,941) (1,208) (11,011) (28,138)
Gain (loss) on marketable securities 15,000 (287,500) 92,500 (92,500)
Total Other (Expenses) Income (441,277) (201,884) (778,970) 226,848
Loss Before Income Taxes (3,939,208) (2,883,463) (6,336,531) (3,104,428)
Income tax provision 123,949 112,113 (32,944) (276,501)
Net Loss (3,815,259) (2,771,350) (6,369,475) (3,380,929)
Other Comprehensive (Loss) Income        
Foreign currency translation adjustment (358,456) 84,743 (510,231) (259,347)
Comprehensive Loss $ (4,173,715) $ (2,686,607) $ (6,879,706) $ (3,640,276)
Loss per common share – basic and diluted $ (0.16) $ (0.13) $ (0.27) $ (0.16)
Weighted average number of common shares outstanding – basic and diluted 24,118,752 22,012,153 23,818,620 21,761,334