Digital Ally, Inc. (Nasdaq: DGLY) (the “Company”), today announced
its operating results for the second quarter of 2022. An investor
conference call is scheduled for 11:15 a.m. EDT on Tuesday, August
16, 2022 (see details below).
Highlights for the
second quarter ended
June 30,
2022
● |
Total revenues increased in the second quarter 2022 to $9,351,457
from $2,493,671 in the second quarter 2021 an improvement of
$6,857,786 (275.0%). The primary reason for the overall revenue
increase is an increase of $6,366,937 (822%), in service revenues
from 2021 primarily due to revenues generated by the Company’s
recent acquisitions and increased service revenues from the
Company’s legacy business. The restoration of public events has
begun, although slower than anticipated, thus adversely affecting
our installation and situational security revenues. Lastly, the
Company’s subscription plan model continues to gain traction in the
marketplace, resulting in the Company building and recognizing its
recurring revenues. |
|
|
● |
On September 1, 2021, the Company completed the acquisition of
Goody Tickets, LLC (“Goody Tickets”) and TicketSmarter, LLC
(“TicketSmarter”) (collectively the “TicketSmarter Acquisition”).
Goody Tickets and TicketSmarter® are ticket resale marketplaces
with seats offered at over 125,000 live events, offering over 48
million tickets for sale through its online platform and mobile
application. This acquisition generated additional revenues for the
period totaling $4,375,024 in service and product revenues.
TicketSmarter revenues are seasonal with the first half of the year
generally constrained by the ending of college and professional
football events and weather conditions for the start of baseball
season. This was especially true this year as Major League Baseball
experienced a work stoppage which reduced spring training schedules
and delayed the opening of the regular season. The Company expects
to see further increases in revenues for the remainder of 2022 and
beyond attributable to TicketSmarter. The Company is also seeking
additional acquisitions that would complement our TicketSmarter
Acquisition, although there can be no assurance that we will be
successful in that regard. |
|
|
● |
We have recently entered the revenue cycle management business late
in the second quarter of 2021 with the formation of our wholly
owned subsidiary, Digital Ally Healthcare, Inc. and its
majority-owned subsidiary Nobility Healthcare, LLC (“Nobility
Healthcare”). Nobility Healthcare completed its first acquisition
on June 30, 2021, when it acquired a private medical billing
company, and a second acquisition on August 31, 2021 upon the
completion of its acquisition of another private medical billing
company. On January 1, 2022, Nobility Healthcare completed the
acquisition of 100% of the capital stock of a private dental
billing company. Additionally, on February 1, 2022, Nobility
Healthcare also completed an asset purchase for a portfolio of a
medical billing company. These acquisitions further enhanced the
Company’s revenue cycle management operating segment, which
provides revenue cycle management solutions to medium to large
healthcare organizations throughout the country. These
acquisitions, along with the revenue cycle management operating
segment’s acquisitions that were previously completed in 2021,
generated service revenues of $2,120,738 during the three months
ended June 30, 2022. The Company expects to see further increases
in revenues for 2022 and beyond attributable to Nobility
Healthcare. Our revenue cycle management operating segment is
following a roll-up strategy in the medical billing industry. The
venture’s acquisition targets include the approximate 6,000 medical
billing companies in the United States, most of which are
relatively small and closely-held private companies. Each year a
portion of these company owners sell their companies because they
want to retire or exit the business for other pursuits. The medical
billing market is quite fragmented with the largest companies
having less than an estimated 5% of the total market. The Company
saw the opportunity to form the venture and provide the capital to
make acquisitions and pursue the medical billing company roll-up
strategy at a faster pace. We expect our revenue cycle management
operating segment to continue its track record of providing
efficient medical billing services and practice management
services, as well as executing a profitable roll-up strategy. |
● |
Overall gross profit for the three months ended June 30, 2022 and
2021 was $1,719,078 and $1,260,800, respectively, an increase of
$458,278 (36.3%). The overall increase is attributable to the large
overall increase in revenues for the three months ended June 30,
2022 and an increase in the overall cost of sales as a percentage
of overall revenues to 82% for the three months ended June 30, 2022
from 49% for the three months ended June 30, 2021. Our goal is to
improve our margins over the longer term based on the expected
margins generated by our new revenue cycle management and ticketing
operating segments together with our video solutions operating
segment and its expected margins from our EVO-HD, DVM-800, VuLink,
FirstVu Pro, FirstVu II, and FirstVu HD. Additionally, we hold that
same goal for our ThermoVuTM, ShieldTM disinfectants, as well as
our cloud evidence storage and management offering, provided that
they gain traction in the marketplace and subject to a normalizing
economy in the wake of the COVID-19 pandemic. In addition, if
revenues from the video solutions segment increase, we will seek to
further improve our margins from this segment through expansion and
increased efficiency utilizing fixed manufacturing overhead
components. We plan to continue our initiative for more efficient
management of our supply chain through outsourcing production,
quantity purchases and more effective purchasing practices. |
|
|
● |
Selling, general and administrative expense totaled $8,380,330 and
$3,877,684 for the three months ended June 30, 2022 and 2021,
respectively, an increase of $4,502,646 (116.1%). The increase was
primarily attributable to the recent TicketSmarter and medical
billing company acquisitions that were not applicable to the three
months ended June 30, 2021. |
|
|
● |
During 2021, the Company issued detachable warrants to purchase a
total of 42,550,000 shares of Common Stock in association with the
two registered direct offerings that were completed, which raised
total funds of approximately $66.6 million. The underlying warrant
agreement terms provide for net cash settlement outside the control
of the Company in the event of tender offers under certain
circumstances. As such, the Company was required to treat these
warrants as derivative liabilities which are valued at their
estimated fair value as of their issuance date and at each
reporting date with any subsequent changes reported in the
consolidated statements of operations as the change in fair value
of warrant derivative liabilities. The change in fair value for the
three months ended June 30, 2022 totaled $5,413,618 which was
recognized as a gain for the three months ended June 30, 2022 as
compared to a loss of $2,863,422 during the three months ended June
30, 2021. |
Management Comments
Stanton E. Ross, Chief Executive Officer of
Digital Ally, stated, “We are very pleased to report a 275%
increase in total revenues for the second quarter of 2022 as
compared to the second quarter of 2021. Additionally, we are able
to report a 291% increase in total revenue for the six months ended
June 30, 2022 as companied to the same period in 2021. Importantly,
we were able to report dramatic improvements in revenue and gross
profit through our recent accretive acquisitions beginning in late
June of 2021 and continuing through the beginning of 2022. We
continue in our excitement surrounding the market’s recent reaction
and level of interest in our recent product announcements within
our legacy product lines, consisting of our FirstVu Pro, FirstVu
II, and QuickVu docking stations, which are continuing to gain
momentum throughout the marketplace, particularly when paired with
our subscription plan offerings. We are proud to report a 39%
increase in our contract liabilities (deferred revenue) from
December 31, 2021 to June 30, 2021, evidencing the success being
found in the marketplace for our new products and subscription
models. We continue to build enthusiasm around the steady success
within our revenue cycle management operating segment, as Nobility
Healthcare, LLC continues to optimize the profitability of its
recent acquisitions through the second quarter of 2022. The
numerous acquisitions of medical billing companies we have already
completed demonstrate that our roll-up strategy is effective and
attractive to potential targets. We look forward to seeing the
growth potential of this revenue cycle management operating segment
come to fruition and continue throughout 2022 and beyond.”
Ross added: “Additionally, we continue to be
thrilled with the addition of TicketSmarter to our growing holdings
of solid revenues and growth-potential businesses, as the
TicketSmarter Acquisition proved to be accretive to revenues in the
first six months of 2022. TicketSmarter generated nearly $11.6
million in revenue over that span, representing about 59% of the
Company’s overall revenues in the first six months of 2022.
TicketSmarter was able to add five very exciting partners to its
vast partnership network: Gannett Media/USA Today, Sinclair
Broadcast Group, iHeart Media, Sporting News, and
MinuteMedia/Fansided. We are enthusiastic to see TicketSmarter’s
results during the latter half of the year, as many of the major
professional and collegiate sports’ seasons get underway, many of
which we partner with throughout the season. We are excited to see
a full year of results of our operation with these new acquisitions
and the exciting opportunities and synergies we can utilize
throughout the Company. As discussed, we have already put resources
to work and plan to continue pursuing and reviewing several
opportunities; however, we are proceeding cautiously given the
current environment and future uncertainties. We will inform our
investors as we attempt to take advantage of new business
opportunities and to expand our existing business lines to benefit
the Company and its shareholders for the remainder of 2022 and
beyond.”
2022 Operating Results
For the three months ended June 30, 2022, our
total revenue increased by 275% to approximately $9.4 million,
compared with revenue of approximately $2.5 million for the three
months ended June 30, 2021.
Gross profit increased 36.3% to $1,719,078 for
the three months ended June 30, 2022 versus $1,260,800 for the
three months ended June 30, 2021. The overall increase is
attributable to the 275% overall increase in revenues for the three
months ended June 30, 2022, partially offset by an increase in the
overall cost of sales as a percentage of overall revenues to 82%
for the three months ended June 30, 2022 from 49% for the three
months ended June 30, 2021.
Selling, general and administrative expenses
increased approximately 116% to $8,380,330 in the three months
ended June 30, 2022 versus $3,877,684 in 2021. The increase was
primarily attributable to the recent acquisitions completed in 2021
and 2022. Our selling, general and administrative expenses as a
percentage of sales decreased to 90% for the second quarter 2022
compared to 156% in the same period in 2021.
We reported an operating loss of ($6,661,252)
for the three months ended June 30, 2022, compared to an operating
loss of ($2,616,884) in the same period of 2021.
Total other income increased to $5,979,065 for
the three months ended June 30, 2022, compared to total other
expense of $2,765,603 in the same period 2021. The increase in
other income was attributable to the $5,413,618 change in fair
value of warrant derivative liabilities reported in the second
quarter 2022, compared to the $2,863,422 change in the same period
of 2021. The change in fair value of warrant derivative liabilities
was related to reductions in the value of the detachable common
stock purchase warrants issued in conjunction with the two
registered direct offerings we completed in 2021.
We reported net loss attributable to common
stockholders of ($1,065,513), or ($0.02) per share, in the three
months ended June 30, 2022 compared to ($5,382,487), or ($0.10) per
share, in the same period in 2021. No income tax provision or
benefit was recorded in the either second quarter 2022 or 2021 as
the Company has maintained a full valuation reserve on its deferred
tax assets.
Investor Conference Call
The Company will host an investor
conference call at 11:15 a.m. EDT on Tuesday
August 16, 2022, to discuss its operating
results for the second quarter of
2022, developments related to its three operating segments, which
include the Company’s recent acquisitions, and other topics of
interest. Shareholders and other interested parties may participate
in the conference call by dialing
888-886-7786
and entering conference ID
#59160705 a few minutes
before 11:15 a.m. EDT on Tuesday August
16, 2022.
A replay of the conference call will be
available two hours after its completion, from
August 16, 2022 until 11:59 p.m.
on October 16,
2022 through our company
website.
For additional news and information please visit
DigitalAllyCompanies.com or follow additional Digital Ally Inc.
social media channels here:
Facebook | Instagram | LinkedIn | Twitter
This press release contains forward-looking
statements within the meaning of Section 27A of the Securities Act
of 1933, as amended, and Section 21E of the Securities Act of 1934,
as amended. Generally, these statements can be identified by the
use of words such as “aim,” “anticipate,” “believe,” “continue,”
“could,” “estimate,” “expect,” “feel,” “forecast,” “intend,” “may,”
“outlook,” “plan,” “potential,” “predict,” “project,” “seek,”
“should,” “will,” “would,” and similar expressions intended to
identify forward-looking statements, although not all
forward-looking statements contain these identifying words. These
statements include statements relating to trends in or expectations
relating to the effects of our existing and any future initiatives,
strategies, investments and plans, including our acquisition
strategy, as well as trends in our expectations regarding our
future financial results and liquidity position. These
forward-looking statements are based largely on the expectations or
forecasts of future events, can be affected by inaccurate
assumptions, and are subject to various business risks and known
and unknown uncertainties, a number of which are beyond the control
of management. Therefore, actual results could differ materially
from the forward-looking statements contained in this press
release. Factors that may cause actual results to differ materially
from the forward-looking statements include, but are not limited
to, the following: (1) our losses in recent years, including during
fiscal 2020 and 2019; (2) economic and other risks for our business
from the effects of the COVID-19 pandemic, including the impacts on
our law-enforcement and commercial customers, suppliers and
employees and on our ability to raise capital as required; (3) our
ability to increase revenues, increase our margins and return to
consistent profitability in the current economic and competitive
environment; (4) our operation in developing markets and
uncertainty as to market acceptance of our technology and new
products; (5) the availability of funding from federal, state and
local governments to facilitate the budgets of law enforcement
agencies, including the timing, amount and restrictions on such
funding; (6) our ability to maintain or expand our share of the
market for our products in the domestic and international markets
in which we compete, including increasing our international
revenues; (7) our ability to produce our products in a
cost-effective manner; (8) competition from larger, more
established companies with far greater economic and human
resources; (9) our ability to attract and retain quality employees;
(10) risks related to dealing with governmental entities as
customers; (11) our expenditure of significant resources in
anticipation of sales due to our lengthy sales cycle and the
potential to receive no revenue in return; (12) characterization of
our market by new products and rapid technological change; (13) our
dependence on sales of our EVO-HD, DVM-800, DVM-250 and FirstVU
products; (14) that stockholders may lose all or part of their
investment if we are unable to compete in our markets and return to
profitability; (15) defects in our products that could impair our
ability to sell our products or could result in litigation and
other significant costs; (16) our dependence on a few manufacturers
and suppliers for components of our products and our dependence on
domestic and foreign manufacturers for certain of our products;
(17) our ability to protect technology through patents and to
protect our proprietary technology and information, such as trade
secrets, through other similar means; (18) our ability to generate
more recurring cloud and service revenues; (19) risks related to
our license arrangements; (20) the fluctuation of our operation
results from quarter to quarter; (21) sufficient voting power by
coalitions of a few of our larger stockholders, including directors
and officers, to make corporate governance decisions that could
have a significant effect on us and the other stockholders; (22)
the issuance or sale of substantial amounts of our common stock, or
the perception that such sales may occur in the future, which may
have a depressive effect on the market price of our securities;
(23) potential dilution from the issuance of common stock
underlying outstanding options and warrants; (24) our additional
securities available for issuance, which, if issued, could
adversely affect the rights of the holders of our common stock;
(25) the volatility of our stock price due to a number of factors,
including, but not limited to, a relatively limited public float;
(26) our ability to integrate and realize the anticipated benefits
from acquisitions; (27) our ability to maintain the listing of our
common stock on the Nasdaq Capital Market.. The Company cannot
predict or determine after the fact what factors would cause actual
results to differ materially from those indicated by the
forward-looking statements or other statements. The Company does
not undertake to publicly update or revise forward-looking
statements, whether because of new information, future events or
otherwise. Additional information respecting factors that could
materially affect the Company and its operations are contained in
its Annual Report on Form 10-K for the year ended December 31,
2021, and other filings with the Securities and Exchange
Commission.
For Additional Information, Please
Contact:Stanton E. Ross, CEO, at (913) 814-7774
orThomas J. Heckman, CFO, at (913)
814-7774
DIGITAL ALLY,
INC.CONDENSED CONSOLIDATED BALANCE
SHEETSJune 30, 2022 AND DECEMBER 31,
2021
|
|
June 30, 2022 |
|
|
December 31, 2021 |
|
|
|
(Unaudited) |
|
|
|
|
Assets |
|
|
|
|
|
|
|
|
Current assets: |
|
|
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
13,454,246 |
|
|
$ |
32,007,792 |
|
Accounts receivable – trade, net |
|
|
2,167,280 |
|
|
|
2,727,052 |
|
Other receivables (including $138,384 due from related parties –
June 30, 2022 and $158,384 – December 31, 2021, refer to Note
20) |
|
|
2,798,029 |
|
|
|
2,021,813 |
|
Inventories, net |
|
|
9,405,954 |
|
|
|
9,659,536 |
|
Prepaid expenses |
|
|
7,911,435 |
|
|
|
9,728,782 |
|
|
|
|
|
|
|
|
|
|
Total current assets |
|
|
35,736,944 |
|
|
|
56,144,975 |
|
|
|
|
|
|
|
|
|
|
Property, plant, and
equipment, net |
|
|
8,457,199 |
|
|
|
6,841,026 |
|
Goodwill and other intangible
assets, net |
|
|
18,675,469 |
|
|
|
16,902,513 |
|
Operating lease right of use
assets, net |
|
|
951,928 |
|
|
|
993,384 |
|
Other assets |
|
|
6,907,281 |
|
|
|
2,107,299 |
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
70,728,821 |
|
|
$ |
82,989,197 |
|
|
|
|
|
|
|
|
|
|
Liabilities and Stockholders’ Equity |
|
|
|
|
|
|
|
|
Current liabilities: |
|
|
|
|
|
|
|
|
Accounts payable |
|
$ |
6,762,924 |
|
|
$ |
4,569,106 |
|
Accrued expenses |
|
|
1,130,737 |
|
|
|
1,175,998 |
|
Current portion of operating lease obligations |
|
|
353,646 |
|
|
|
373,371 |
|
Contract liabilities – current portion |
|
|
1,944,382 |
|
|
|
1,665,519 |
|
Debt obligations – current portion |
|
|
514,664 |
|
|
|
389,934 |
|
Warrant derivative liabilities |
|
|
9,285,143 |
|
|
|
14,846,932 |
|
Income taxes payable |
|
|
11,796 |
|
|
|
1,827 |
|
|
|
|
|
|
|
|
|
|
Total current liabilities |
|
|
20,003,292 |
|
|
|
23,022,687 |
|
|
|
|
|
|
|
|
|
|
Long-term liabilities: |
|
|
|
|
|
|
|
|
Debt obligations – long term |
|
|
754,680 |
|
|
|
727,278 |
|
Operating lease obligation – long term |
|
|
666,477 |
|
|
|
688,207 |
|
Contract liabilities – long term |
|
|
4,087,426 |
|
|
|
2,687,786 |
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
25,511,875 |
|
|
|
27,125,958 |
|
|
|
|
|
|
|
|
|
|
Commitments and
contingencies |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Stockholders’ Equity: |
|
|
|
|
|
|
|
|
Common stock, $0.001 par value per share; 100,000,000 shares
authorized; shares issued: 47,828,405 shares issued – June 30, 2022
and 50,904,391 shares issued – December 31, 2021 |
|
|
47,828 |
|
|
|
50,904 |
|
Additional paid in capital |
|
|
125,202,080 |
|
|
|
124,426,379 |
|
Noncontrolling interest in consolidated subsidiary |
|
|
325,993 |
|
|
|
56,453 |
|
Accumulated deficit |
|
|
(80,358,955 |
) |
|
|
(68,670,497 |
) |
|
|
|
|
|
|
|
|
|
Total stockholders’ equity |
|
|
45,216,946 |
|
|
|
55,863,239 |
|
|
|
|
|
|
|
|
|
|
Total liabilities and stockholders’ equity |
|
$ |
70,728,821 |
|
|
$ |
82,989,197 |
|
(FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE
COMPANY’S QUARTERLY REPORTON FORM 10-Q FOR THE THREE MONTHS ENDED
JUNE 30, 2022 FILED WITH THE SEC)
DIGITAL ALLY,
INC.CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONSFOR THE THREE AND SIX MONTHS
ENDEDJUNE 30, 2022 AND
2021(unaudited)
|
|
Three months ended June 30, |
|
|
Six months ended June 30, |
|
|
|
2022 |
|
|
2021 |
|
|
2022 |
|
|
2021 |
|
Revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product |
|
$ |
2,210,181 |
|
|
$ |
1,719,332 |
|
|
$ |
4,620,241 |
|
|
$ |
3,631,910 |
|
Service and other |
|
|
7,141,276 |
|
|
|
774,339 |
|
|
|
15,025,997 |
|
|
|
1,397,591 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total revenue |
|
|
9,351,457 |
|
|
|
2,493,671 |
|
|
|
19,646,238 |
|
|
|
5,029,501 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Cost of revenue: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Product |
|
|
2,070,476 |
|
|
|
1,017,659 |
|
|
|
4,892,527 |
|
|
|
2,578,969 |
|
Service and other |
|
|
5,561,903 |
|
|
|
215,212 |
|
|
|
11,095,015 |
|
|
|
377,849 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total cost of revenue |
|
|
7,632,379 |
|
|
|
1,232,871 |
|
|
|
15,987,542 |
|
|
|
2,956,818 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Gross profit |
|
|
1,719,078 |
|
|
|
1,260,800 |
|
|
|
3,658,696 |
|
|
|
2,072,683 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Selling, general and
administrative expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Research and development expense |
|
|
540,222 |
|
|
|
460,999 |
|
|
|
1,038,222 |
|
|
|
909,964 |
|
Selling, advertising and promotional expense |
|
|
2,763,045 |
|
|
|
870,183 |
|
|
|
5,542,448 |
|
|
|
1,466,938 |
|
General and administrative expense |
|
|
5,077,063 |
|
|
|
2,546,502 |
|
|
|
10,542,616 |
|
|
|
5,178,359 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total selling, general and
administrative expenses |
|
|
8,380,330 |
|
|
|
3,877,684 |
|
|
|
17,123,286 |
|
|
|
7,555,261 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating loss |
|
|
(6,661,252 |
) |
|
|
(2,616,884 |
) |
|
|
(13,464,590 |
) |
|
|
(5,482,578 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
|
32,233 |
|
|
|
90,774 |
|
|
|
103,595 |
|
|
|
132,461 |
|
Interest expense |
|
|
(8,501 |
) |
|
|
(1,365 |
) |
|
|
(25,511 |
) |
|
|
(2,793 |
) |
Other income (loss) |
|
|
(381 |
) |
|
|
— |
|
|
|
43,059 |
|
|
|
— |
|
Gain on extinguishment of
debt |
|
|
— |
|
|
|
10,000 |
|
|
|
— |
|
|
|
10,000 |
|
Change in fair value of
contingent consideration promissory notes |
|
|
542,096 |
|
|
|
— |
|
|
|
486,046 |
|
|
|
— |
|
Change in fair value of
short-term investments |
|
|
— |
|
|
|
(1,590 |
) |
|
|
(84,818 |
) |
|
|
(6,554 |
) |
Change in fair value of
warrant derivative liabilities |
|
|
5,413,618 |
|
|
|
(2,863,422 |
) |
|
|
5,561,789 |
|
|
|
21,688,835 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total other income
(expense) |
|
|
5,979,065 |
|
|
|
(2,765,603 |
) |
|
|
6,084,160 |
|
|
|
21,821,949 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income (loss) before income
tax benefit |
|
|
(682,187 |
) |
|
|
(5,382,487 |
) |
|
|
(7,380,430 |
) |
|
|
16,339,371 |
|
Income tax benefit |
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) |
|
|
(682,187 |
) |
|
|
(5,382,487 |
) |
|
|
(7,380,430 |
) |
|
|
16,339,371 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income attributable to
noncontrolling interests of consolidated subsidiary |
|
|
(383,326 |
) |
|
|
— |
|
|
|
(285,232 |
) |
|
|
— |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net income (loss) attributable
to common stockholders |
|
$ |
(1,065,513 |
) |
|
$ |
(5,382,487 |
) |
|
$ |
(7,665,662 |
) |
|
$ |
16,339,371 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net loss per share
information: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
(0.02 |
) |
|
$ |
(0.10 |
) |
|
$ |
(0.15 |
) |
|
$ |
0.34 |
|
Diluted |
|
$ |
(0.02 |
) |
|
$ |
(0.10 |
) |
|
$ |
(0.15 |
) |
|
$ |
0.34 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Weighted average shares
outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
48,657,440 |
|
|
|
51,513,691 |
|
|
|
49,787,562 |
|
|
|
48,177,399 |
|
Diluted |
|
|
48,657,440 |
|
|
|
51,513,691 |
|
|
|
49,787,562 |
|
|
|
48,177,399 |
|
(FOR ADDITIONAL INFORMATION, PLEASE REFER TO THE
COMPANY’S QUARTERLY REPORTON FORM 10-Q FOR THE THREE MONTHS ENDED
JUNE 30, 2022 FILED WITH THE SEC)
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