Quarterly report pursuant to Section 13 or 15(d)

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited)

v3.20.2
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
REVENUES:        
Total Revenues $ 1,281,949 $ 2,198,401 $ 4,255,036 $ 7,896,287
COST OF REVENUES:        
Total Cost of Revenues 987,018 1,172,942 3,117,865 4,565,585
GROSS PROFIT 294,931 1,025,459 1,137,171 3,330,702
OPERATING EXPENSES:        
Sales & marketing 173,197 214,979 435,522 735,599
Engineering 280,897 339,282 946,303 963,831
Research and development 215,831 273,555 771,789 1,144,715
Administration 1,991,408 852,584 4,030,906 2,660,227
AI technologies 340,441 476,960 1,174,465 860,947
Total Operating Expenses 3,001,774 2,157,360 7,358,985 6,365,319
LOSS FROM OPERATIONS (2,706,843) (1,131,901) (6,221,814) (3,034,617)
OTHER INCOME (EXPENSES):        
Interest Expense (6,260) (12,783) (133,435) (19,095)
Other income, net 4,524 615 33,732 4,021
Total Other Income (Expense) (1,736) (12,168) (99,703) (15,074)
NET LOSS $ (2,708,579) $ (1,144,069) $ (6,321,517) $ (3,049,691)
Basic & Diluted Net Loss Per Share $ (0.77) $ (0.63) $ (1.95) $ (1.78)
Weighted Average Shares-Basic & Diluted 3,528,128 1,817,289 3,247,954 1,715,480
Technology systems [Member]        
REVENUES:        
Total Revenues $ 672,951 $ 1,921,306 $ 2,606,034 $ 6,954,062
COST OF REVENUES:        
Total Cost of Revenues 601,814 984,805 2,080,872 4,045,448
Technical support [Member]        
REVENUES:        
Total Revenues 502,502 229,008 1,229,813 701,552
COST OF REVENUES:        
Total Cost of Revenues 333,721 158,785 802,751 420,451
Consulting services [Member]        
REVENUES:        
Total Revenues 50,216 48,087 184,685 240,673
COST OF REVENUES:        
Total Cost of Revenues 12,301 29,352 84,561 99,686
AI technologies [Member]        
REVENUES:        
Total Revenues 56,280 234,504
COST OF REVENUES:        
Total Cost of Revenues $ 39,182 $ 149,681