Annual report pursuant to Section 13 and 15(d)

NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
Schedule of amortization expense

The estimated amortization expense for the succeeding years for the intangible assets is approximately:

Schedule of amortization expense 

Year Ending December 31,    
2022   $ 60,617
2023     59,842
2024     59,842
2025     59,842
2026     59,842
Thereafter     508,828
Total amortization expense   $ 808,813
Schedule of net income per common share

Basic earnings per share are computed on the weighted average of common shares outstanding during each year.  Diluted earnings per share includes only an increase in the weighted average shares by the common shares issuable upon exercise of stock options.  See “NOTE 4 — STOCK-BASED COMPENSATION” for further detail.

Schedule of net income per common share

                 
    Years Ended  
    December 31, 2021     December 31, 2020  
             
Net loss   $ (4,562,823 )   $ (1,212,063 )
                 
Weighted Average Outstanding Shares:                
Outstanding shares     44,385,032       41,929,736  
Option shares includable     — (a)     — (a)
      44,385,032       41,929,736  
                 
Net loss per share                
Basic   $ (0.10 )   $ (0.03 )
Diluted   $ (0.10 )   $ (0.03 )

__________

(a) Option shares of 273,110 and 239,935 for 2021 and 2020, respectively were not included as the impact is anti-dilutive.
Schedule of net sales by geography

The following table summarizes net revenues by geography for the years ended December 31, 2021 and 2020:

Schedule of net sales by geography 

               
    Years Ended December 31,  
    2021   2020  
Net Revenues              
Domestic   $ 19,488,685   $ 20,678,453  
International     4,001,490     3,497,995  
Total   $ 23,490,175   $ 24,176,448