Annual report pursuant to Section 13 and 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS

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CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)
12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]    
Net sales $ 15,774,170 $ 11,063,619
Cost of products sold 9,498,384 6,289,316
Gross profit 6,275,786 4,774,303
Operating expenses:    
Selling, general and administrative 1,726,345 872,669
Salaries and wages 5,389,599 2,857,773
Research and development 211,111 0
Professional fees 380,929 167,299
Depreciation 198,523 155,728
Total operating expenses 7,906,507 4,053,469
(Loss) from operations (1,630,721) 720,834
Other income:    
Other income 538
Interest expense (136,709) (178,584)
Loss on disposal of assets (254,600) 19,327
Gain from insurance recovery 434,724
Net change in fair value of marketable securities (32,465)
Government grant income 608,224
Forgiveness of PPP loan 609,500
Total other income 619,712 450,243
Net (loss) income $ (1,011,009) $ 1,171,077
Basic and dilutive (loss) income per share of common stock $ (0.19) $ 0.29
Weighted average number of shares of common stock outstanding 5,331,400 4,000,000