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 9 Months Ended
Sep. 30, 2022
Sep. 30, 2021
Sep. 30, 2022
Sep. 30, 2021
Income Statement [Abstract]        
Revenue $ 9,591,294 $ 8,030,082 $ 32,175,015 $ 33,877,359
Costs and Expenses        
Selling expenses 6,874,581 6,054,757 24,029,532 26,333,156
General and administrative expenses 5,808,768 5,075,300 15,589,410 13,975,455
Restructuring and severance expenses 1,205,689
Total Costs and Expenses 12,683,349 11,130,057 40,824,631 40,308,611
Loss from Operations (3,092,055) (3,099,975) (8,649,616) (6,431,252)
Other (Expenses) Income        
Other income 21,931 74,327 90,783 444,689
Other expense (45,528) (384) (56,539) (28,522)
Interest expense, net of interest income (9,104) (4,705) (22,641) (14,748)
Change in fair value of contingent purchase consideration (482,059) (569,076) (1,397,833) (569,076)
Amortization of present value discount (12,833)
(Loss) gain on marketable securities (49,250) (200,000) 43,250 (292,500)
Total Other (Expenses) Income (564,010) (699,838) (1,342,980) (472,990)
Loss Before Income Taxes (3,656,065) (3,799,813) (9,992,596) (6,904,242)
Income tax provision (167,574) 284,636 (200,518) 8,136
Net Loss (3,823,639) (3,515,177) (10,193,114) (6,896,106)
Other Comprehensive Loss        
Foreign currency translation adjustment (367,765) (154,572) (877,996) (413,917)
Comprehensive Loss $ (4,191,404) $ (3,669,749) $ (11,071,110) $ (7,310,023)
Loss per common share – basic and diluted $ (0.14) $ (0.15) $ (0.41) $ (0.33)
Weighted average number of common shares outstanding – basic and diluted 26,942,389 23,080,193 24,871,319 22,205,785