CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2020 |
Jun. 30, 2019 |
Jun. 30, 2020 |
Jun. 30, 2019 |
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| CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) | ||||
| Revenues | $ 1,883,502 | $ 2,509,749 | $ 3,000,178 | $ 5,297,070 |
| Costs and expenses: | ||||
| Cost of sales | 1,385,849 | 1,794,985 | 2,316,383 | 3,961,325 |
| Selling, general and administrative expenses (related party of $62,500, $69,289, $125,000, and $144,289) | 1,133,470 | 2,790,011 | 2,305,445 | 3,930,206 |
| Interest expense & letter of credit fees (related party of $503,190, $503,077, $1,006,015, and $941,722) | 650,359 | 565,611 | 1,314,747 | 1,067,619 |
| (Gain) loss on change in fair value of profit share | (376,040) | 105,715 | (252,390) | 143,272 |
| Gain on sale of equipment | (5,919) | 0 | (5,919) | 0 |
| Total costs and expenses | 2,787,719 | 5,256,322 | 5,678,266 | 9,102,422 |
| Loss before provision for income taxes | (904,217) | (2,746,573) | (2,678,088) | (3,805,352) |
| Provision for income taxes | 0 | 0 | 0 | 0 |
| Net loss | $ (904,217) | $ (2,746,573) | $ (2,678,088) | $ (3,805,352) |
| Net loss per common share-basic and diluted: | $ (0.01) | $ (0.04) | $ (0.03) | $ (0.05) |
| Weighted average common shares outstanding - basic and diluted | 77,747,750 | 76,278,400 | 77,742,225 | 76,327,455 |
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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://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Total costs of sales and operating expenses for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The portion of earnings or loss from continuing operations before income taxes that is attributable to domestic operations. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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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://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Amount of interest expense incurred on a debt or other obligation to related party. No definition available.
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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://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). 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 Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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