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 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
REVENUES:        
Total Revenues $ 1,982,142 $ 1,345,805 $ 2,973,087 $ 5,697,886
COST OF REVENUES:        
Total Cost of Revenues 1,242,767 1,171,405 2,130,847 3,392,642
GROSS PROFIT 739,375 174,400 842,240 2,305,244
OPERATING EXPENSES:        
Research and development 149,566 487,738 555,958 871,160
Engineering 352,970 289,986 665,406 624,549
Sales & marketing 122,473 270,196 262,325 520,620
Administration 1,023,947 872,972 2,039,498 1,807,645
AI technologies 517,475 202,673 834,024 383,986
Total Operating Expenses 2,166,431 2,123,565 4,357,211 4,207,960
LOSS FROM OPERATIONS (1,427,056) (1,949,165) (3,514,971) (1,902,716)
OTHER INCOME (EXPENSES):        
Interest Expense (58,243) (3,692) (127,175) (6,313)
Other income, net 19,410 3,066 29,208 3,407
Total Other Income (Expense) (38,833) (626) (97,967) (2,906)
NET LOSS $ (1,465,889) $ (1,949,791) $ (3,612,938) $ (1,905,622)
Basic & Diluted Net Loss Per Share $ (0.42) $ (1.09) $ (1.16) $ (1.14)
Weighted Average Shares-Basic & Diluted 3,526,382 1,788,659 3,106,660 1,665,439
Project Revenues [Member]        
REVENUES:        
Total Revenues $ 1,419,409 $ 984,991 $ 1,933,083 $ 4,903,429
COST OF REVENUES:        
Total Cost of Revenues 897,514 967,649 1,479,058 3,060,643
Maintenance and Technical Support Revenues [Member]        
REVENUES:        
Total Revenues 382,124 280,601 727,311 602,075
COST OF REVENUES:        
Total Cost of Revenues 234,754 156,341 469,030 261,665
IT Asset Management Services Revenues [Member]        
REVENUES:        
Total Revenues 2,385 80,213 134,469 192,382
COST OF REVENUES:        
Total Cost of Revenues 47,415 72,260 70,334
AI technologies [Member]        
REVENUES:        
Total Revenues 178,224 178,224
COST OF REVENUES:        
Total Cost of Revenues $ 110,499 $ 110,499