Annual report pursuant to Section 13 and 15(d)

Statements of Operations

v3.6.0.2
Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Income Statement [Abstract]      
Sales $ 43,433,867 $ 27,793,073 $ 25,509,572
Cost of goods sold 24,156,792 16,148,163 14,132,357
Gross profit 19,277,075 11,644,910 11,377,215
Operating expenses:      
Research and development 5,622,132 4,257,400 3,311,337
Sales and marketing 5,670,625 4,035,591 3,516,095
General and administrative 4,532,151 3,453,288 2,972,257
IPO costs   229,332 726,926
Total operating expenses 15,824,908 11,975,611 10,526,615
Income (loss) from operations 3,452,167 (330,701) 850,600
Other expense (income):      
Interest income (7,803)    
Interest expense 178,371 39,489 42,692
Fair market value adjustment - warrants (460,289) (85,325) (2,747,570)
Exercise and expiration of warrants   (15,145) (38,993)
Total other income (289,721) (60,981) (2,743,871)
Income (loss) before income taxes 3,741,888 (269,720) 3,594,471
Provision for income taxes 8,181 622 6,171
Net income (loss) 3,733,707 (270,342) 3,588,300
Accretion of dividends on preferred convertible stock (1,537,021) (2,444,954) (2,431,836)
Net income (loss) attributable to common stockholders $ 2,196,686 $ (2,715,296) $ 1,156,464
Net income (loss) per share:      
Basic $ 0.65 $ (4.17) $ 2.08
Diluted $ 0.40 $ (4.30) $ (2.86)
Weighted average shares used in calculating income (loss) per share      
Basic 3,373,316 651,593 555,805
Diluted 4,667,503 651,593 555,805