Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

v3.21.1
Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Revenue:    
Total revenue $ 1,220,591 $ 1,809,993
Costs and expenses:    
Cost of products and services 582,854 1,197,061
Research and development 1,143,420 1,157,222
Selling and marketing 649,783 680,629
General and administrative 3,430,321 4,580,615
Total operating costs and expenses 5,806,378 7,615,527
Operating loss (4,585,787) (5,805,534)
Other (expense) income:    
Interest expense, net (8,344,236) (5,281,480)
Unrealized gain on investment in equity securities 500,358 4,018
Loss on extinguishment of liabilities (3,575,878) (795,089)
Total other expense (11,419,756) (6,072,551)
Income tax benefit 217,168
Net loss (16,005,543) (11,660,917)
Deemed dividends on beneficial conversion feature (61,180) (2,653,344)
Preferred stock dividends (1,517,987) (1,553,822)
Net loss attributable to common shareholders $ (17,584,710) $ (15,868,083)
Net loss per share - basic and diluted $ (5.32) $ (7.98)
Weighted average common stock shares outstanding used in the basic and diluted net loss per share calculation 3,304,187 1,987,606
Products, Services, Other [Member]    
Revenue:    
Total revenue $ 1,220,591 $ 1,809,993