CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) |
3 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Sep. 30, 2022 |
Sep. 30, 2021 |
Sep. 30, 2022 |
Sep. 30, 2021 |
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Income Statement [Abstract] | ||||
Revenue | $ 242,710 | $ 75,067 | $ 3,795,065 | $ 75,067 |
Cost of goods sold | 2,012,829 | 1,176,691 | 11,549,871 | 1,176,691 |
Gross margin | (1,770,119) | (1,101,624) | (7,754,806) | (1,101,624) |
Operating expenses: | ||||
Sales and marketing | 1,282,014 | 1,135,205 | 3,942,827 | 1,937,745 |
Product development | 2,177,347 | 3,021,207 | 6,775,768 | 7,595,581 |
General and administrative expenses | 2,085,211 | 586,494 | 7,409,601 | 14,634,037 |
Total operating expenses | 5,544,572 | 4,742,906 | 18,128,196 | 24,167,363 |
Loss from operations | (7,314,691) | (5,844,530) | (25,883,002) | (25,268,987) |
Other income (expense) | 33,814 | (3,842) | 72,800 | (9,332) |
Interest expense | (618,307) | (42,183) | (627,789) | (67,521) |
Total other expense | (584,493) | (46,025) | (554,989) | (76,853) |
Loss before provision for income taxes | (7,899,184) | (5,890,555) | (26,437,991) | (25,345,840) |
Provision for income taxes | 0 | 0 | 0 | 0 |
Net loss | $ (7,899,184) | $ (5,890,555) | $ (26,437,991) | $ (25,345,840) |
Net loss per common share – basic | $ (0.32) | $ (2.55) | $ (1.13) | $ (11.95) |
Net loss per common share – diluted | $ (0.32) | $ (2.55) | $ (1.13) | $ (11.95) |
Weighted average common shares outstanding – basic | 24,345,221 | 2,303,508 | 23,454,024 | 2,121,129 |
Weighted average common shares outstanding – diluted | 24,345,221 | 2,303,508 | 23,454,024 | 2,121,129 |
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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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- Definition The capitalized costs incurred during the period (excluded from amortization) to obtain access to proved reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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 The amount of net income (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/2003/role/exampleRef
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- Definition The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. 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, before tax, of income (loss) attributable to parent. Includes, but is not limited to, income (loss) from continuing operations, discontinued operations and 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 current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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 The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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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) included in net income that results in no cash inflow (outflow), classified as other. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The weighted average number of shares or units and dilutive common stock or unit equivalents outstanding in the calculation of proforma diluted earnings per share (earnings per unit), which is commonly presented in initial public offerings based on the terms of the offering. No definition available.
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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 amount of expenses directly related to the marketing or selling of products or services. No definition available.
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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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