LightPath Technologies, Inc
(NASDAQ:LPTH)

LightPath Technologies, Inc. designs, develops, manufactures, and distributes optical components and assemblies. The company offers precision molded glass aspheric optics, molded and diamond-turned infrared aspheric lenses, and other optical components used to produce products that manipulate light....

Website: http://www.lightpath.com

Founded: 1985

Full Time Employees: 363

Sector: Technology

Industry: Electronic Components

Technology

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Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30

revenue	19,149,814	16,351,652	15,058,281	12,209,793	9,167,627	7,424,829	8,400,381	8,634,132	7,699,175	7,315,637	8,077,248	9,684,721	7,409,648	8,472,679	7,366,901	8,907,231	8,305,412	9,243,174	9,103,343	8,332,316	10,701,362	9,922,171	9,508,972	9,107,140	8,708,981	9,599,912	7,551,930	8,745,278	7,905,582	8,548,507	8,549,721	8,088,377	8,503,628	8,361,373	7,572,093	9,007,380	8,490,042	5,869,837	5,000,229
yoy	108.89%	120.23%	79.26%	41.41%	19.07%	1.49%	4.00%	-10.85%	3.91%	-13.66%	9.64%	8.73%	-10.79%	-8.34%	-19.07%	6.90%	-22.39%	-6.84%	-4.27%	-8.51%	22.88%	3.36%	25.91%	4.14%	10.16%	12.30%	-11.67%	8.12%	-7.03%	2.24%	12.91%	-10.20%	0.16%	42.45%	51.43%
qoq	17.11%	8.59%	23.33%	33.18%	23.47%	-11.61%	-2.71%	12.14%	5.24%	-9.43%	-16.60%	30.70%	-12.55%	15.01%	-17.29%	7.25%	-10.15%	1.54%	9.25%	-22.14%	7.85%	4.35%	4.41%	4.57%	-9.28%	27.12%	-13.65%	10.62%	-7.52%	-0.01%	5.70%	-4.88%	1.70%	10.42%	-15.93%	6.09%	44.64%	17.39%
cost of sales	12,193,531	10,331,322	10,575,709	9,519,040	6,503,526	5,493,998	5,555,952	6,109,100	6,092,988	5,147,316	5,745,542	6,603,559	4,874,244	5,248,334	5,132,989	6,098,627	5,271,161	6,443,328	5,931,408	6,268,831	6,797,605	6,291,835	5,658,780	5,596,915	4,696,805	5,670,632	5,161,112	5,916,343	4,799,913	5,007,364	5,506,548	5,653,725	5,211,602	4,849,657	4,282,756	4,640,850	4,267,318	2,573,380	2,166,481	2,265,489	1,887,146	1,876,331	1,938,762	2,376,025	1,597,725	2,082,769	1,625,675	1,746,914	1,539,278	1,667,865	1,490,642	1,721,184	1,522,901	1,650,461	1,713,742	1,875,505	1,895,724	1,828,368	1,650,501	1,666,656	1,456,758	1,527,941	1,427,474	1,369,525	1,409,356	1,268,531	888,343	1,059,235	1,242,291	1,438,234	1,706,758	1,814,420	1,694,679	2,016,257	2,070,042	2,226,089	2,177,375	2,589,384	3,313,198	2,960,632	2,798,070	2,210,436	2,150,320	1,848,173.25	2,268,520	2,765,546	2,372,165	1,840,117	1,624,689	1,626,811	1,191,732
gross profit	6,956,283	6,020,330	4,482,572	2,690,753	2,664,101	1,930,831	2,844,429
yoy	161.11%	211.80%	57.59%
qoq	15.55%	34.31%	66.59%	1.00%	37.98%	-32.12%
gross margin %	36.33%	36.82%	29.77%	22.04%	29.06%	26.01%	33.86%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%	NaN%
operating expenses:
selling, general and administrative	6,296,286	5,859,461	4,383,870	4,739,622	4,448,359	3,356,063	3,270,583	3,605,988	3,171,770	2,858,457	2,661,168	3,009,109	2,759,306	3,030,653	2,638,173	2,786,553	2,619,269	2,946,998	2,869,046	3,980,113	2,805,829	2,763,178	2,440,477	2,164,614	2,255,625	2,199,133	2,341,778	3,084,101	2,431,819	2,518,853	2,463,878	2,163,350	2,362,578	2,294,177	2,398,242	2,460,318	2,329,762	1,695,881	2,165,062	1,759,100	1,812,205	1,573,349	1,440,648	1,517,814	1,145,623	1,325,058	1,144,235	1,184,407	1,098,997	1,154,387	1,076,622	948,038	1,042,067	1,018,367	982,455	859,798	1,141,366	883,882	995,621	842,065	861,051	997,329	1,071,198	937,129	816,957	543,703	961,762	480,838	816,805	1,108,931	1,229,519	1,377,286	1,272,269	1,353,954	1,436,857	1,011,383	945,021	1,284,399	1,274,776	1,048,631	1,183,390	1,120,120	1,082,563	938,184	830,275	1,165,468	1,265,603	1,073,486	1,386,697	1,529,099	1,181,714
new product development	1,041,794	748,829	867,428	1,064,997	757,938	764,396	476,441	582,822	569,962	607,747	639,889	615,675	513,694	466,163	549,881	516,310	590,405	551,960	427,011	545,024	640,528	529,902	450,497	404,694	412,326	468,646	428,411	522,203	505,636	518,793	469,983	440,145	384,380	413,081	381,388	381,995	308,394	267,527	278,018	187,437	164,990	168,067	148,346	166,150	249,086	350,147	343,712	337,300	319,499	263,718	294,955	245,631	216,626	264,311	212,457	249,641	236,643	271,532	287,719	258,249	265,746	248,507	222,585	219,159	222,607	201,764	225,910	200,821	184,111	227,775	274,693	290,220	308,302	307,267	308,480	343,399	289,254	276,232	265,247	276,709	261,858	244,650	255,173	231,497	224,633	242,784	301,717	317,513	239,919	249,136
amortization of intangible assets	477,245	450,526	450,524	-54,695	779,025	294,711	395,776
change in fair value of acquisition earnout liabilities	3,393,000
loss on disposal of property and equipment		17	3,999	18,829	2,068		78,437	111,336	13,248			-22,463	-58,652	2,742		8,898	337				9,473			-32,270.5	142	-79,224	-50,000	-23,217	-136,125	-15,500	58,757	-3,573		3,315						11,516.25	34,189	11,876		54.5			218			40		568.25	1,026	545	702
total operating expenses	11,208,325	14,617,833	6,988,350	7,329,198	5,987,390	4,415,170	4,221,237	4,734,549	4,189,383	3,951,650	3,582,328	3,883,592	3,495,618	3,780,829	3,469,325	3,593,032	3,491,281	3,780,229	3,577,328	4,806,408	3,737,100	3,573,874	3,172,200	2,872,380	2,949,364	2,871,834																																																														1,570,771	2,092,263
operating income	-4,252,042	-8,597,503	-2,505,778	-4,638,445	-3,323,289	-2,484,339	-1,376,808	-2,209,517	-2,583,196	-1,783,329	-1,250,622	-802,430	-960,214	-556,484	-1,235,413	-784,428	-457,030	-980,383	-405,393	-2,742,923	166,657	56,462	677,992	637,845	1,062,812	1,057,446	-612,892	-1,076,711	20,818	194,646	-278,716	-494,540	215,798	471,872	180,436	1,133,635	1,279,759	1,333,049	390,668	522,606	213,443	606,708	662,574	-177,306.75	206,320	-405,016	-510,531	-171,162	42,887	-186,358	-61,782	205,916	55,881	-25,120	-26,519	110,959	-506,464	-319,861	-208,933	22,092	-150,505	-253,920	-475,012	281,881	203,278	204,239	-527,253	-159,419	-596,998	-876,755	-874,918	-1,097,547	-1,182,978	-1,664,129	-1,514,843	-1,312,277	-520,265	-368,920	-475,115	-875,424	-1,144,860	-625,890	-815,058	-786,309	-309,377	-886,283	-1,443,252	-805,578	-1,765,834	-2,017,307	-1,384,279
yoy	27.95%	246.07%	82.00%	109.93%	28.65%	39.31%	10.09%	175.35%	169.02%	220.46%	1.23%	2.29%	110.10%	-43.24%	204.74%	-71.40%	-374.23%	-1836.36%	-159.79%	-530.03%	-84.32%	-94.66%	-210.62%	-159.24%	5005.26%	443.27%	119.90%	117.72%	-90.35%	-58.75%	-254.47%	-143.62%	-83.14%	-64.60%	-53.81%	116.92%	499.58%	119.72%	-41.04%	-394.75%	3.45%	-249.80%	-229.78%	3.59%	381.08%	117.33%	726.34%	-183.12%	-23.25%	641.87%	132.97%	85.58%	-111.03%	-92.15%	-87.31%	402.26%	236.51%	25.97%	-56.02%	-92.16%	-174.04%	-224.32%	-9.91%	-276.82%	-134.05%	-123.29%	-39.74%	-85.47%	-49.53%	-47.31%	-42.24%	-16.36%	127.38%	351.08%	218.84%	49.90%	-54.56%	-41.06%	-41.71%	11.33%	270.05%	-29.38%	-43.53%	-2.39%	-82.48%	-56.07%	4.26%
qoq	-50.54%	243.11%	-45.98%	39.57%	33.77%	80.44%	-37.69%	-14.47%	44.85%	42.60%	55.85%	-16.43%	72.55%	-54.96%	57.49%	71.64%	-53.38%	141.84%	-85.22%	-1745.85%	195.17%	-91.67%	6.29%	-39.99%	0.51%	-272.53%	-43.08%	-5272.02%	-89.30%	-169.84%	-43.64%	-329.17%	-54.27%	161.52%	-84.08%	-11.42%	-4.00%	241.22%	-25.25%	144.85%	-64.82%	-8.43%	-473.69%	-185.94%	-150.94%	-20.67%	198.27%	-499.10%	-123.01%	201.64%	-130.00%	268.49%	-322.46%	-5.28%	-123.90%	-121.91%	58.34%	53.09%	-1045.74%	-114.68%	-40.73%	-46.54%	-268.52%	38.67%	-0.47%	-138.74%	230.73%	-73.30%	-31.91%	0.21%	-20.28%	-7.22%	-28.91%	9.85%	15.44%	152.23%	41.02%	-22.35%	-45.73%	-23.53%	82.92%	-23.21%	3.66%	154.16%	-65.09%	-38.59%	79.16%	-54.38%	-12.47%	45.73%
operating margin %	-22.20%	-52.58%	-16.64%	-37.99%	-36.25%	-33.46%	-16.39%	-25.59%	-33.55%	-24.38%	-15.48%	-8.29%	-12.96%	-6.57%	-16.77%	-8.81%	-5.50%	-10.61%	-4.45%	-32.92%	1.56%	0.57%	7.13%	7.00%	12.20%	11.02%	-8.12%	-12.31%	0.26%	2.28%	-3.26%	-6.11%	2.54%	5.64%	2.38%	12.59%	15.07%	22.71%	7.81%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%
other income:
interest income	271,641
loss on extinguishment of debt					-418,502																																																								-131,784
change in fair value of warrant liability				-2,224,270	870,554																													-243,012	48,380	-9,759	-748,169	246,885	43,500	-27,243	661,854	-1,055,179	368,114	93,827	-105,518	534,784	-53,958	278,183	-130,698	-35,013	-18,952	-502,827	222,766	169,552
other expense	-34,496	13,953	-37,101																								-515,406															-78,170	-174,844			18,832	1,453
total other income	237,145			-2,539,937	-159,140			21,244	-8,540	145,724		5,208	-137,774	-82,577	-43,153	-40,783	125,086	-39,512	-96,831	-47,391.5	-81,387	38,105	-146,284	-155,958.25	-43,426	33,540		-189,280	-210,966	-201,773	-483,135	170,134.75	827,327	-242,030	95,243	117,564	-913,161	5,244	15,028	-68,151.75	689,285	-1,142,291	180,399	90,295.25	-116,529	546,229		273,613	-176,209	-15,675	-18,563	113,711.25	161,213	165,892				-23,438	10,486
income before income taxes	-4,014,897	-9,374,853	-2,811,732	-7,178,382	-3,482,429	-2,567,472	-1,607,109	-2,407,685	-2,591,736	-1,637,605	-1,302,830	-797,222	-1,097,988	-639,061	-1,278,566	-825,211	-331,944	-1,019,895	-502,224	-2,962,881	85,270	94,567	531,708	747,394	1,019,386	1,090,986	-1,226,839	-1,265,991	-190,148	-7,127	-761,851	-1,315,619	1,043,125	229,842
income tax provision	91,390	30,556	81,270	-122,402	100,031	44,525	15,636	-53,912	5,798	76,058	39,546	11,618	65,282	55,000	102,134	534,579	163,059	35,396	129,873	-49,671	307,834	241,112	434,640	90,442	203,369	321,869	148,318	495,699	161,870
net income	-4,106,287	-9,405,409	-2,893,002	-7,055,980	-3,582,460	-2,611,997	-1,622,745	-2,353,773	-2,597,534	-1,713,663	-1,342,376	-808,840	-1,163,270	-694,061	-1,380,700	-1,359,790	-495,003	-1,055,291	-632,097	-2,913,210	-222,564	-146,545	97,068	656,952	816,017	769,117	-1,375,157	-1,761,690	-352,018	16,276	-582,891	-807,220	1,226,279	423,350	217,695	6,364,099	100,824	1,097,667	140,496	331,467	775,758	-535,583	842,973	-87,011.5	89,791	141,213	-579,050	102,451	-133,322	-202,033	-80,345	-243,765	217,094	140,772	101,221	195,864	-518,985	-343,299	-198,447	429	-375,728	-373,714	-852,950	91,686	12,052	41,676	-706,373	-317,568	-756,175	-1,725,508	-1,023,809	-1,131,301	-1,190,269	-1,643,151	-1,503,048	-1,295,829	-519,598	-344,333	-454,869	-825,370	-1,117,745	-618,134	-807,632	-698,695	-305,983	-893,014	-1,582,104	-1,169,892	-1,069,640	-1,979,091	-1,379,783
yoy	14.62%	260.08%	78.28%	199.77%	37.92%	52.42%	20.89%	191.01%	123.30%	146.90%	-2.78%	-40.52%	135.00%	-34.23%	118.43%	-53.32%	122.41%	620.11%	-751.19%	-543.44%	-127.27%	-119.05%	-107.06%	-137.29%	-331.81%	4625.47%	135.92%	118.24%	-128.71%	-96.16%	-367.76%	-112.68%	1116.26%	-61.43%	54.95%	1819.98%	-87.00%	-304.95%	-83.33%	-480.95%	763.96%	-479.27%	-245.58%	-184.93%	-167.35%	-169.90%	620.70%	-142.03%	-161.41%	-243.52%	-179.38%	-224.46%	-141.83%	-141.01%	-151.01%	45555.94%	38.13%	-8.14%	-76.73%	-99.53%	-3217.56%	-996.71%	20.75%	-128.87%	-101.59%	-102.42%	-31.01%	-71.93%	-36.47%	5.01%	-31.88%	-12.70%	129.07%	377.20%	230.44%	57.00%	-53.51%	-44.29%	-43.68%	18.13%	265.30%	-30.78%	-48.95%	-40.28%	-71.39%	-54.88%	14.66%
qoq	-56.34%	225.11%	-59.00%	96.96%	37.15%	60.96%	-31.06%	-9.38%	51.58%	27.66%	65.96%	-30.47%	67.60%	-49.73%	1.54%	174.70%	-53.09%	66.95%	-78.30%	1208.93%	51.87%	-250.97%	-85.22%	-19.49%	6.10%	-155.93%	-21.94%	400.45%	-2262.80%	-102.79%	-27.79%	-165.83%	189.66%	94.47%	-96.58%	6212.09%	-90.81%	681.28%	-57.61%	-57.27%	-244.84%	-163.54%	-1068.81%	-196.90%	-36.41%	-124.39%	-665.20%	-176.84%	-34.01%	151.46%	-67.04%	-212.29%	54.22%	39.07%	-48.32%	-137.74%	51.18%	72.99%	-46358.04%	-100.11%	0.54%	-56.19%	-1030.29%	660.75%	-71.08%	-105.90%	122.43%	-58.00%	-56.18%	68.54%	-9.50%	-4.95%	-27.56%	9.32%	15.99%	149.39%	50.90%	-24.30%	-44.89%	-26.16%	80.83%	-23.46%	15.59%	128.34%	-65.74%	-43.56%	35.24%	9.37%	-45.95%	43.43%
net income margin %	-21.44%	-57.52%	-19.21%	-57.79%	-39.08%	-35.18%	-19.32%	-27.26%	-33.74%	-23.42%	-16.62%	-8.35%	-15.70%	-8.19%	-18.74%	-15.27%	-5.96%	-11.42%	-6.94%	-34.96%	-2.08%	-1.48%	1.02%	7.21%	9.37%	8.01%	-18.21%	-20.14%	-4.45%	0.19%	-6.82%	-9.98%	14.42%	5.06%	2.87%	70.65%	1.19%	18.70%	2.81%	Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	Infinity%	Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	Infinity%	Infinity%	Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%	-Infinity%
foreign currency translation adjustment	1,739	212,859	92,383	527,619	120,572	-451,035	271,594	-119,009	-112,356	259,973	-125,208	-370,492	288,607	671,125	-917,829	-1,018,399	-18,738	284	-144,174	300,670	-373,114	723,396	729,308	-24,928	-244,520	143,056	53,766	55,843	53,327	52,793	173,047	-22,774	77,477	69,262	54,147	55,470	38,636	43,629	31,553	28,247	26,258	8,848	12,075	-423.75	-882	-345	-468	-10,316	-4,534	4,106	9,689	-35,747	-269	3,651	-3,157	6,648	9,883	9,278										860.75	3,061	-11,410	11,792	12,795.25	9,771	20,614	20,796
comprehensive loss	-4,104,548	-9,192,550	-2,800,619	-6,528,361	-3,461,888	-3,063,032	-1,351,151	-2,472,782	-2,709,890	-1,453,690	-1,467,584	-1,179,332	-874,663	-22,936	-2,298,529												-1,321,391																				-579,518									202,512	-509,102	-334,021										-875,512.25	-753,114	-1,736,918	-1,012,017	-1,071,321.75	-1,180,498	-1,622,537	-1,482,252
loss per common share	-0.07	-0.2	-0.07	-0.17	-0.09	-0.07	-0.04	-0.06	-0.07	-0.05	-0.04	-0.02	-0.03	-0.03	-0.05	-0.05	-0.02	-0.04									-0.05																				-0.04									-0.028	-0.05	-0.04	-0.02				-0.09				-0.09
number of shares used in per share calculation	58,628,741	46,998,804	43,287,933	664,411	41,363,643	39,728,933	39,561,480	305,471	37,988,770	37,501,683	37,431,748	1,887,307	35,124,095	27,172,226	27,070,949	7,591	27,033,578	27,008,748	26,993,971	160,186	26,366,651	26,117,239	25,982,260	12,538	25,858,155	25,837,903	25,826,771	6,383	25,810,681	25,781,941	25,772,718	243,009	25,546,512	24,525,839	24,235,058	1,380,796	23,818,136	16,541,205	15,616,855	3,834,834.25	15,530,574	15,250,146	15,239,366	3,634,431.75	15,028,231	14,305,985	14,312,061	96,717	14,292,976	13,863,865		2,954,602	11,883,042	11,801,684	11,771,902	103,363	9,767,640	9,761,129	9,746,107	59,354	9,715,266	9,705,890	9,011,214	238,696	8,232,496	8,163,675	7,603,580	1,498,278.5	6,674,453	5,892,829	5,412,059	1,416	5,332,655	5,323,511	5,321,844	3,772	4,506,230	4,493,497	4,479,117	189,849	3,826,560	3,695,644	3,695,644	28,973	3,311,984	3,292,459	3,259,206	130,273	2,880,458	2,618,341	2,604,822
change in fair value of acquisition liabilities		7,559,000	1,282,529
other expense:
interest expense		-285,023	-268,853	-312,967	-486,833	-169,053	-149,360	-42,814	-37,649	-53,788	-57,611	-54,561	-77,094	-81,241	-70,370	-78,411	-54,984	-50,331	-45,749	-48,863	-52,795	-55,147	-58,549	-66,184	-85,464	-89,257	-98,541	-123,578	-275,233	-153,289	-145,013	247,723	-118,890	-147,371	-168,410	-168,918	-154,639	-6,252	-6,941	-7,527	-8,287	-8,942	-12,871	-3,265.5	-2,931	-6,762	-3,369	-573	-350	-248	-172	-428	-50,951	-14,616	-30,440	-21,809	-21,750	-21,750	-23,420	-22,171	-32,115	-28,977	-87,322	-57,919	-54,272	-45,378	-52,433	948,956	-161,330	-853,526	-158,722	-38,516	-19,357	-11,190	-17,738	-24,485	-11,041
loss in extinguishment of debt		-506,280
total other expense		-777,350	-305,954			-83,133	-230,301																				-613,947																												127,740	-6,368.25	-12,521			-180,738.75	-225,223	-119,794	-377,938	-133,227.25	-191,226	-162,563	-179,120
other income				-2,700	-124,359	85,920	-80,941	-155,354	29,109	199,512	5,403	59,769	-60,680	-1,336	27,217	37,628	180,070	10,819	-51,082	-5,768.75	-28,592	93,252	-87,735	-87,642.75	42,038	122,797		-65,702	64,267	-48,484	-338,122	-686,343	484,531	194,729	248,124	334,580	27,985	-235,389	-21,531	-88,148	35,718			29,071	-8,080			8,649	-32,516	24,583	5,611	16,658	-8,470	11,840	63,262	10,973.75	10,061	-872	34,706	-1,993.5	-3,879	-6,667
the accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
the accompanying notes are an integral part of these condensed consolidated financial statements.
gross margin								2,525,032	1,606,187	2,168,321	2,331,706	3,081,162	2,535,404	3,224,345	2,233,912	2,808,604	3,034,251	2,799,846	3,171,935	2,063,485	3,903,757	3,630,336	3,850,192	3,510,225	4,012,176	3,929,280	2,390,818	2,828,935	3,105,669	3,541,143	3,043,173	2,434,652	3,292,026	3,511,716	3,289,337	4,366,530	4,222,724	3,296,457	2,833,748	2,468,115	2,224,827	2,360,000	2,251,568	2,130,523	1,601,029	1,270,189	977,634	1,364,029	1,466,314	1,240,004	1,319,070	1,407,802	1,323,817	1,266,320	1,177,312	1,228,615	879,762	843,770	1,082,624	1,117,894	977,298	1,000,133	826,448	1,437,248	1,251,059	957,923	668,636	530,457	414,598	466,968	631,004	567,536	419,517	5,309	238,711	50,722	722,227	1,199,928	1,073,125	448,999	308,604	743,810	551,716	420,754	796,790	548,810	578,141	932,658	326,429	226,587	562,648
amortization of intangibles								300,280	434,403	485,446	281,271	281,271	281,270	281,271	281,271	210,953	281,270	281,271	281,271	281,271	281,270	281,271	281,271	281,270	281,271	283,279	283,521	283,521	283,521	324,351	329,271	329,270	329,270	329,271	329,271	389,138	304,809											13,445	5,518	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,217	8,216	8,410	34,692	38,217	38,217	38,285	466,170	369,755.5	465,647	465,659	547,716
total other (expense)											-52,208
the accompanying notes are an integral part of these consolidated financial statements.
comprehensive income																-586,254.75	-513,741	-1,055,007	-776,271	-2,612,540	-595,678	576,851	826,376	632,024	571,497	912,173		-1,705,847	-298,691	69,069	-409,844	-829,994	1,303,756	492,612	271,842	6,419,569	139,460	1,141,296	172,049	359,714	802,016	-526,735	855,048	-87,435.25	88,909	140,868		92,135	-137,856	-197,927	-70,656	-279,512	216,825	144,423	98,064
gain on disposal of property and equipment																						-477	-45
earnings per common share																			-0.02	-0.11	-0.01	-0.01		0.02	0.03	0.03		-0.06	-0.01		-0.02	-0.04	0.05	0.02	0.01	0.32		0.07	0.01	0.015	0.04
total operating costs and expenses																											3,003,710	3,905,646	3,084,851	3,346,497	3,321,889	2,929,192	3,076,228	3,039,844
income tax benefit																														-23,403
provision for income taxes																															-178,960	-508,399	-183,154	-193,508	57,984
interest expense - debt costs																																95,614.75	461,686	-46,376	-32,851	-38,339	-38,338							-3,317.5		-625	-12,645	-12,646	-12,645	-4,997			-2,132	-884	-866	-850	-832	-816	-800	-784	-10,699	-23,972	-83,522	-38,620	-39,082	-33,623	-36,225
the accompanying notes are an integral part of these unaudited consolidated financial statements.
total costs and expenses																																			3,108,901	3,232,895	2,942,965	1,963,408	2,443,080	1,945,509	2,011,384	1,753,292	1,588,994	1,682,264	1,394,709	1,675,205	1,488,165	1,535,191	1,423,427	1,426,362	1,380,852	1,201,886	1,267,936	1,291,440	1,203,831	1,117,656	1,386,226	1,163,631	1,291,557	1,095,802	1,127,803	1,254,053	1,301,460	1,155,367	1,047,781	753,684	1,195,889	965,310.25	1,011,596	1,343,723	1,505,922	1,665,083	1,602,495	1,669,438	1,753,554	1,362,999	1,242,492	1,568,848	1,548,240	1,324,423	1,453,464	1,369,700				1,435,093				2,243,894	1,946,927
net income before income taxes																																			275,679	1,251,199	366,598	1,338,293	405,696	303,550.5	902,728
income taxes																																				-5,112,900	265,774	240,626	265,200	68,221	126,970
earnngs per common share																																							0.01
sales																																								4,733,604	4,111,973
earnngs																																								0.018	0.05
product sales																																										4,236,331	4,190,330	4,506,548	3,198,754	3,352,958	2,603,309	3,110,943	3,005,592	2,907,869	2,809,712	3,128,986	2,846,718	2,916,781	2,891,054	3,104,120	2,775,486	2,672,138	2,733,125	2,784,550	2,434,056	2,528,074	2,253,922	2,806,773	2,660,415	2,226,454	1,556,979	1,589,692	1,656,889	1,905,202	2,337,762	2,381,956	2,114,196	2,021,566	2,308,753	2,276,811	2,899,602	3,789,312	4,386,323	3,409,631	3,106,674	2,954,246	2,702,036	2,332,493	3,065,310	3,314,356	2,950,306	1,389,724	1,951,118	1,853,398	1,754,380
income per common share																																										-0.04	0.06	-0.005	0.01	0.01				-0.01				0.01	0.01					-0.043	-0.04	-0.04				0.01
total expense																																															-68,519
loss (gain) on disposal of property and equipment																																																127.75	-587
income																																																-0.008	-0.01		-0.01	0.01	0.02											-0.02
gain on disposal of equipment																																																			1,058
interest expense— debt costs																																																			-5,050
number of shares used in per share calculation— basic																																																			13,567,712
income (loss) per common share— diluted																																																			-0.01
number of shares used in per share calculation— diluted																																																			13,567,712
the accompanying notes are an integral part of these unaudited consolidated statements.
change in fair value of derivative warrant																																																							95,784
gain on sale of property and equipment																																																												-1,937.75	-7,211		-540
interest expense - debt discount																																																												-103	-46,746	-60,178	-209,666	-96,949	-98,107	-84,401	-90,928
investment and other income																																																															2,572	3,293	235	839	466	4,793	2,153	4,773	9,831	4,762	12,066	32,168	29,533			24,587	20,246	59,188	27,115	7,756	7,426	117,103	3,394	-6,731	-68,852	-41,550.25	-100,256	-70,968	4,496
loss (gain) on sale of property and equipment
loss on sale of property & equipment																																																																				-1,311	2,463
loss per share																																																																				-0.04	-0.11	-0.29	-0.19	-0.22	-0.22	-0.31	-0.28	-0.29	-0.12	-0.08	-0.1	-0.18	-0.29	-0.17	-0.22	-0.213	-0.09	-0.27	-0.49	-0.41	-0.37	-0.76	-0.53
gain on sale of property & equipment																																																																						-1,200	-6,507
loss on disposal of assets																																																																								3,426.75	13,707
gain on sales of assets																																																																																2,283.5		-3,480	-5,654			-11,444	-12,097	28,776.5	6,450	109,184
other																																																																												19,864.25	11,708
loss on settlement of litigation																																																																																							-70,000
total operating costs																																																																																			1,366,774	1,144,047.75	1,106,167		2,021,393
loss on sales of assets																																																																																				-2,624.75	13,042
reorganization and relocation expense																																																																																								441.5			1,766
gain on settlement of litigation																																																																																				-17,500				197,500	790,000
asset impairments
loss before cumulative effect of accounting change																																																																																								-1,169,892	-1,069,640	-1,979,091
cumulative effect of accounting change
research and development																																																																																											215,731

Balance Sheets:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30	2003-06-30

assets
current assets:
cash and cash equivalents	55,235,181	73,572,471	11,507,418	4,877,036	6,478,885	3,201,066	4,280,637	3,480,268	3,008,952	3,536,558	4,316,965	4,687,004	9,902,897	3,793,852	4,298,869	5,507,891	5,240,946	5,052,755	3,976,981	6,774,694	5,940,699	5,306,243	5,386,587	5,387,388	4,381,713	4,277,607	4,665,170	4,604,701	4,641,457	3,641,389	4,532,096	5,508,620	6,388,164	7,734,437	8,058,151	8,085,015	6,831,521	5,681,109	3,583,772	2,908,024	2,862,586	2,503,053	2,350,025	1,643,920	1,060,111	795,104	786,677	1,624,570	1,955,290	2,879,201	1,565,215	1,403,490	1,777,530	2,161,729	2,354,087	490,055	595,388	693,748	928,900	954,546	1,095,296	1,347,250	1,464,351	542,891	906,140	1,244,427	579,949	380,068	523,509	1,154,183	358,457	420,129	1,513,782	2,882,661	1,291,364	1,882,030	2,433,685	3,140,166	3,763,013	3,737,621	1,625,285	1,733,120	2,462,540	1,477,737	1,854,820	2,104,098	2,531,029	2,948,294	1,952,150	2,781,864	3,367,650
trade accounts receivable, net of allowance of 49,017 and 24,495	10,797,645
inventories	13,344,705	13,491,419	12,862,173	12,858,838	12,687,225	6,428,439	6,790,204	6,551,059	6,827,475	7,520,444	7,503,496	7,410,734	8,232,208	6,914,276	7,005,709	6,985,427	7,617,849	7,315,065	8,708,481	8,659,587	8,883,283	9,693,277	9,647,434	8,984,482	8,237,059	7,542,329	8,016,688	7,684,527	7,586,734	6,737,050	6,361,262	6,404,741	6,409,118	5,814,358	5,391,422	5,074,576	5,083,350	5,004,957	3,984,376	3,836,809	3,673,988	3,356,387	3,284,892	3,181,377	3,416,068	3,310,436	3,514,365	2,947,368	2,806,210	2,091,063	1,770,681	1,828,368	1,729,227	1,601,001	1,513,384	1,563,441	1,792,696	1,818,189	1,622,637	1,679,116	1,460,742	1,221,042	1,137,678	1,090,325	1,052,962	1,055,012	983,278	1,207,970	1,154,400	1,176,831	1,323,555	1,452,893	1,542,731	1,758,883	1,853,324	1,712,932	1,625,951	1,685,432	1,876,793	1,566,786	1,928,185	2,047,806	1,783,430	1,727,431	1,666,000	1,680,442	1,457,027	1,124,395	1,022,877	1,072,346	1,074,562
prepaid expenses and deposits	3,440,598	1,330,172	1,178,776	1,142,661	1,206,115	649,270	538,580	445,900	482,371	478,686
other current assets	185,503	23,192	12,350	40,150	57,815	89,891	2,218	131,177	419,797	191,381
total current assets	83,003,632	97,000,741	35,155,096	28,373,995	28,081,126	15,648,300	16,808,479	15,537,335	15,549,626	18,780,869	19,972,765	21,760,091	23,431,663	16,159,196	16,405,589	18,169,414	18,306,069	18,009,499	19,071,305	20,703,102	21,789,448	22,188,715	21,959,449	21,257,828	19,803,359	19,637,208	18,772,705	19,608,394	19,065,110	18,527,324	18,327,202	19,389,053	19,572,331	19,941,538	19,364,877	19,720,375	18,347,601	17,162,829	11,583,271	11,152,184	10,254,962	9,257,780	8,896,884	8,372,006	7,468,001	7,040,218	6,923,639	7,554,120	7,738,087	7,577,441	6,078,569	6,131,505	6,485,385	6,460,582	6,250,259	4,709,647	4,612,613	4,888,050	4,612,404	4,487,373	4,440,998	4,683,557	4,797,635	4,188,445	3,946,802	3,845,138	3,293,118	3,222,788	3,553,894	4,053,270	3,294,227	3,574,787	4,408,579	6,141,529	4,774,363	5,747,227	6,161,353	6,957,347	7,676,179	7,641,873	5,350,864	5,813,784	5,883,075	5,133,126	5,657,373	5,992,684	6,285,497	6,011,346	4,851,682	5,901,210	6,252,469
property and equipment	15,828,239	15,176,577	15,016,029	15,864,061	15,461,601	14,054,829	14,921,499	15,210,612	15,940,981	16,361,049	15,593,252	12,810,930	12,532,112	10,978,783	10,767,788	11,640,463	12,628,654	13,158,718	13,727,842	13,279,867	13,304,537	13,631,399	12,270,410	11,799,061	11,119,527	11,640,542	11,379,106	11,731,084	12,520,168	12,227,361	11,763,255	11,809,241	12,322,111	11,833,301	11,411,122	10,324,558	9,763,042	9,510,052	4,516,820	4,370,045	4,284,591	4,340,587	4,292,340	4,275,552	3,825,992	3,308,204	3,347,806	2,662,815	2,356,321	2,257,479	2,235,781	2,013,214	2,016,565	1,890,897	1,920,950	2,120,527	2,360,346	2,483,029	2,373,022	2,408,809
operating lease right-of-use assets	8,406,283	7,430,787	7,688,839	7,429,378	6,457,530	6,218,147	6,514,321	6,741,549	7,164,556	7,432,993	7,571,878	9,571,604	9,698,797	9,894,925	10,095,366	10,420,604	10,598,425	9,638,515	9,944,236	9,015,498	1,208,692	1,389,428	1,502,488	1,220,430	1,348,381	1,488,126	1,607,458
intangible assets	17,589,628	15,086,873	15,537,398	15,987,923	21,476,226	2,960,252	3,254,963	3,650,739	4,085,141	4,519,544	3,051,444	3,332,715	3,613,986	3,895,256	4,176,527	4,457,798	4,739,069	5,020,339	5,301,610	5,582,881	5,864,152	6,145,423	6,426,694	6,707,964	6,989,235	7,270,506	7,553,785	7,837,306	8,120,826	8,404,347	8,728,699	9,057,970	9,387,240	9,716,511	10,045,782	10,375,053	10,930,191	10,759,000										13,445	18,963	27,180	35,397	43,614	51,831	60,048	68,265	76,482	84,699	92,916	101,133	109,350
goodwill	19,315,177	13,753,921	13,753,921	13,753,921	9,741,473	6,764,127	6,764,127	6,764,127	6,764,127	6,764,127	8,915,637	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	5,854,905	513,940	1,227,752
deferred tax assets	22,233	22,240	22,241	22,571	123,000	123,000	123,000	123,000	140,000	140,000	140,000	140,000	143,000	143,000	143,000	143,000	147,000	147,000	147,000	147,000	659,000	659,000	659,000	659,000	652,000	652,000	652,000	652,000	1,030,000	1,030,000	922,000	624,000	285,000	285,000	285,000	285,000
other assets	99,987	87,369	86,726	73,917	79,860	59,536	58,001	59,602	61,041	66,007	67,773	65,939	48,084	47,987	47,066	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	75,730	290,200	290,200	290,200	289,491	319,021	357,753	383,009	381,945	137,084	137,085	112,323	112,323	158,414	152,323	106,964	66,964	66,964	66,964	66,964	66,964	66,964	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	27,737	37,813	27,737	55,473	78,701	57,306	57,306	57,306	57,306	57,306	57,306	57,306	57,306	62,109	57,306	57,306	59,731	73,771	68,028	65,215	65,214	65,215	119,738	132,064	145,913	155,987	166,373	177,925	190,352
total assets	144,265,179	148,558,508	87,260,250	81,505,766	81,420,816	45,828,191	48,444,390	48,086,964	49,705,472	54,064,589	55,312,749	53,536,184	55,322,547	46,974,052	47,490,241	50,713,921	52,301,859	51,856,713	54,074,635	54,610,990	48,708,471	49,896,607	48,700,683	47,574,918	46,057,607	46,833,487	46,110,159	45,973,180	46,910,030	46,401,690	45,979,070	47,117,114	47,558,671	47,768,340	47,074,009	46,672,214	39,713,188	38,811,956	16,207,055	15,589,193	14,606,517	13,665,331	13,256,188	12,714,522	11,360,957	10,376,159	10,299,182	10,258,117	10,141,108	9,889,837	8,377,484	8,216,070	8,581,518	8,442,280	8,271,093	6,939,125	7,090,959	7,498,112	7,121,476	7,041,233	7,152,111	7,267,060	7,455,595	6,898,380	6,564,638	6,199,461	5,829,596	5,453,334	5,919,051	6,603,473	5,489,011	5,884,303	6,472,904	8,010,198	6,627,524	7,585,648	8,020,977	8,657,727	9,174,034	9,243,121	7,132,344	7,371,507	7,608,909	7,142,459	8,026,111	8,663,800	9,681,089	10,207,364	9,671,543	11,357,894	12,498,064
liabilities and stockholders’ equity
current liabilities:
accounts payable	6,030,975	5,978,713	5,499,734	7,421,430	5,737,240	3,114,382	2,661,862	3,231,713	2,797,755	2,899,032	2,907,279	2,574,135	3,374,753	2,366,201	2,344,334	3,073,933	2,661,862	2,249,296	2,581,594	2,924,333	2,196,823	2,737,740	2,337,477	2,558,638	1,906,332	2,699,115	2,662,522	2,227,768	2,424,960	2,042,290	1,874,941	2,032,834	2,039,090	1,919,725	2,301,890	1,536,121	1,597,144	1,709,171	1,442,736	1,361,914	908,202	1,080,239	1,312,175	1,551,885	1,462,534	1,901,501	1,888,156	1,401,808	1,337,427	1,236,020	1,065,651	1,048,555	1,339,508	1,170,915	1,129,708	1,302,198	1,315,944	1,332,500	928,790	933,316	856,078	826,223	511,523	1,316,090	1,258,334	855,970	1,376,599	1,342,987	1,092,076	1,123,354	1,827,461	1,413,518	926,412	876,550	1,278,328	1,056,753	1,079,636	1,489,224	1,668,683	925,306	1,524,482	1,459,735	865,960	893,331	1,271,347	1,086,597		422,875	538,232	432,497	418,172
accrued liabilities	10,813,017	14,262,568	8,225,366	5,686,396	3,079,036	1,448,584	1,413,876	1,911,867	1,878,449	1,990,114	1,740,083	662,242	678,092	775,630	864,301	558,750	670,171	1,087,936	883,377	1,067,265	1,389,101	1,175,444	1,161,796	992,221	1,154,162	1,261,584	1,259,590	871,912	789,886	501,171	628,562	685,430	514,479	328,437	714,859	966,929	1,215,080	924,947	489,267	328,144	321,958	79,266	86,175	84,039	91,955	114,843	41,989	110,330	56,518	64,564	110,628	167,942	77,904	110,611	183,910	117,336	74,238	136,634	123,705	208,066	345,320	140,661	179,370	180,000	76,112	264,315	181,318	178,693	88,495	154,194	196,125	468,554	283,536	329,655	326,525	280,472	272,921	365,680	236,501	455,767	468,109	297,751	387,617	300,339	460,425	572,171	428,896	376,524	523,454	307,754	382,891
accrued payroll and benefits	3,125,747	2,497,228	2,343,821	2,359,152	1,752,940	1,445,924	1,487,707	1,446,452	1,484,240	1,456,777	1,478,250	1,499,896	1,537,508	1,316,103	1,888,766	2,081,212	1,986,328	1,990,911	2,536,977	2,810,043	2,132,585	2,164,827	1,976,053	1,827,740	1,363,288	1,467,675	1,384,669	1,730,658	1,194,182	1,306,831	1,081,627	1,228,120	1,113,840	1,467,058	1,723,147	1,896,530	1,419,357	1,476,457	1,470,774	1,356,255	1,264,720	939,778	1,099,172	842,506	580,908	580,625	612,388	484,768	505,264	557,762	440,462	496,793	469,807	486,880	386,234	468,448	460,738	497,146	481,318	383,173	277,105	335,509	396,863	318,594	258,988	292,019	332,609	271,696	409,531	374,170	423,222	329,855	382,456	310,744	413,576	335,934	398,551	430,177	514,424	376,576	451,680	369,614	358,606	278,421	379,040	509,883	565,935	278,263	388,975	492,763	428,682
operating lease liabilities, current	1,177,423	1,349,820	1,338,632	1,254,062	1,271,740	997,957	1,028,981	1,059,998	1,090,806	1,123,276	1,016,940	969,890	971,069	926,132	960,331	965,622	973,174	816,789	896,481	799,507	849,169	843,533	814,307	765,422	757,168	749,399	730,106
loans payable, current portion	113,085	115,774	144,143	172,567	185,631	3,017,443	2,963,855	209,170	323,689	2,138,775	1,269,340	1,023,814	849,327	1,085,103	1,091,145	998,692	902,601	777,424	694,305	634,846	934,185	936,615	881,350	981,350	581,350	581,350	581,350	581,350	581,350	1,458,800	1,458,800	1,458,800	1,458,800	1,111,500	1,111,500	1,111,500	833,750	555,556
finance lease obligation, current portion	271,015	216,191	202,328	206,518	203,954	203,739	183,656	177,148	172,904	118,070	112,352	103,646	40,187	43,123	21,638	55,348	91,277	127,278	172,382	212,212	242,417	274,112	284,008	278,040	377,873	378,095	384,325
total current liabilities	21,531,262	24,420,294	17,754,024	17,100,125	12,230,541	10,228,029	9,739,937	8,036,348	7,747,843	9,726,044	8,524,244	6,833,623	7,450,936	6,512,292	7,170,515	7,733,557	7,285,413	7,049,634	7,765,116	8,448,206	7,744,280	8,132,271	7,454,991	7,403,411	6,140,173	7,137,218	7,002,562	6,355,263	5,392,044	5,699,973	5,323,134	5,712,383	5,345,897	5,146,777	6,090,079	5,750,412	5,305,312	5,105,623	3,569,231	3,212,767	2,661,334	2,265,737	2,663,976	2,696,469	2,302,452	3,078,015	2,602,511	2,003,102	1,905,405	1,866,508	1,622,309	1,718,858	2,980,287	2,859,508	1,741,204	2,169,982	1,850,920	1,966,280	1,533,813	1,538,702	2,469,712	2,333,424	1,087,756	1,814,684	1,621,074	1,481,605	2,048,334	1,955,936	1,775,637	1,902,585	2,990,285	2,578,508	2,050,042	2,046,489	2,201,359	1,855,556	1,914,001	2,572,629	2,704,573	2,028,848	2,457,609	2,140,001	1,624,662	1,496,149	2,152,316	2,199,714	1,692,370	1,129,151	1,513,091	1,310,338	1,317,282
deferred tax liabilities	88,099	86,274	152,985	152,760	1,498,479	323,402	331,755	326,197	473,573	474,395	467,979	465,000	528,395	521,346	511,419	541,015																		200,403	197,279	182,349
accrued liabilities, noncurrent		3,300,000	4,500	823,000	937,000	315,480	315,480	611,619	611,619	919,623	1,075,000
finance lease obligation, less current portion	460,316	346,400	370,422	421,363	457,441	496,025	491,106	528,753	573,130	334,654	340,716	341,201	47,191	50,460	8,085	11,454	15,392	18,437	32,739	66,801	108,412	147,031	205,966	279,435	351,197	456,388	556,765
operating lease liabilities, noncurrent	9,197,980	8,102,873	8,440,693	8,326,250	7,518,766	7,539,488	7,836,512	8,058,502	8,315,001	8,583,630	8,773,442	8,393,248	8,661,517	8,921,735	9,114,599	9,478,077	9,686,335	8,943,334	9,240,725	8,461,133	656,535	891,849	1,075,781	887,766	1,073,981	1,265,152	1,443,023
loans payable, less current portion	103,661	135,069	4,867,298	4,804,990	4,693,544	222,829	284,881	325,880	275,748	326,507	1,236,633	1,550,587	1,783,325	2,766,431	2,948,446	3,218,580	3,489,070	3,776,246	4,096,524	4,057,365	4,209,008	4,372,429	4,296,670	4,437,365	4,578,059	4,718,754	4,859,448	5,000,143	5,140,837	4,401,859	4,760,828	5,119,796	5,479,565	9,449,571	9,681,445	9,926,844	10,166,505	10,827,779
total liabilities	31,381,318	36,390,910	31,589,922	31,628,488	31,296,794	19,125,253	18,999,671	17,887,299	17,996,914	20,364,853	20,418,014	17,583,659	18,471,364	18,772,264	19,753,064	20,982,683	20,476,210	19,787,651	21,135,104	21,033,505	12,718,235	13,543,580	13,033,408	13,007,977	12,143,410	13,577,512	13,861,798	12,514,054	11,840,066	11,162,104	10,916,719	11,759,670	11,497,242	15,465,877	16,904,927	16,951,045	16,812,233	17,013,840	4,850,175	4,657,281	4,120,858	4,980,993	4,319,858	4,714,878	3,068,208	3,367,814	3,514,844	3,118,091	2,934,019	2,902,000	2,947,848	2,580,534	4,104,487	4,190,144	4,268,629	3,628,991	3,342,823	3,489,385	3,085,575	3,118,267	2,990,551	2,879,173	3,210,907	3,991,310	3,827,172	3,629,048	4,138,370	3,539,986	3,309,407	3,801,465	3,329,250	2,741,202	2,259,122	2,301,801	2,502,753	2,202,887
commitments and contingencies
series g convertible preferred stock; 0.01 par value...	23,794,184	34,232,510	34,232,510	34,232,510	34,399,622
stockholders’ equity:
preferred stock: series d, 0.01 par value...
common stock: class a, 0.01 par value...	612,070	544,427		429,493	428,936	398,908	396,127		381,262		374,554		372,314		270,719		270,343																																																																						32,226
additional paid-in capital	334,313,395	319,121,901	253,529,806	244,953,346	238,505,174	246,051,852	245,733,382	245,140,758	244,188,153	243,475,209	243,217,458	242,808,771	242,529,230	233,104,731	232,619,220	232,315,003	232,031,350	231,761,146	231,576,882	231,438,651	231,243,062	231,014,560	230,905,905	230,634,056	230,613,630	230,527,126	230,431,772	230,321,324	230,226,315	230,097,492	229,989,483	229,874,823	229,749,154	227,304,219	225,668,002	225,492,252	225,092,607	224,133,117	214,913,912	214,661,617	214,575,078	213,579,036	213,304,541	213,222,950	213,149,515	211,963,328	211,880,260	211,748,604	211,677,853	211,265,624	209,645,126	209,571,539	208,641,399	208,560,927	208,410,216	207,939,837	207,868,807	207,795,377	207,636,440	207,549,990	207,442,308	207,290,094	206,277,806	205,015,867	204,858,863	204,684,593	203,151,364	203,089,544	203,032,955	201,500,464	199,847,356	199,712,633	199,602,907	199,474,985	196,417,217	196,336,324	196,213,746	196,138,976	196,064,721	195,980,842	192,409,157	192,410,649	192,426,330	191,426,528	191,339,980	190,985,881	190,986,547	190,953,849	189,065,471	189,095,883	188,921,743
accumulated other comprehensive income	1,285,667	1,283,928	1,071,069	978,686	451,067	330,495	781,530	509,936	628,945	741,301	481,328	606,536	977,028	688,421	17,296	935,125	1,953,524	1,972,262	1,971,978	2,116,152	1,815,482	2,188,596	1,465,200	735,892	760,820	1,005,340	862,284	808,518	752,675	699,348	646,555	473,508	496,282	418,805	349,543	295,396	239,926	201,290	157,661	126,108	97,861	71,603	62,755	50,680	49,986	50,868	51,213	61,997	66,531	62,425	52,736	88,483	88,752		88,258		71,727
accumulated deficit	-247,121,455	-243,015,168	-233,609,759	-230,716,757	-223,660,777	-220,078,317	-217,466,320	-215,843,575	-213,489,802	-210,892,268	-209,178,605	-207,836,229	-207,027,389	-205,864,119	-205,170,058	-203,789,358	-202,429,568	-201,934,565	-200,879,274	-200,247,177	-197,333,967	-197,111,403	-196,964,858	-197,061,926	-197,718,878	-198,534,895	-199,304,012	-197,928,855	-196,167,165	-195,815,147	-195,831,423	-195,248,532	-194,441,312	-195,667,590	-196,090,941	-196,308,636	-202,672,735	-202,773,559	-203,871,226	-204,011,722	-204,343,189	-205,118,947	-204,583,364		-205,059,103	-205,148,894	-205,290,107	-204,813,508	-204,680,186	-204,478,153	-204,397,808	-204,154,043	-204,371,137		-204,613,130	-204,808,994	-204,290,009	-203,946,710	-203,748,263	-203,748,692	-203,372,964	-202,999,250	-202,146,300	-202,237,986	-202,250,038	-202,291,714	-201,585,341	-201,267,773	-200,511,598	-198,786,090	-197,762,281	-196,630,980	-195,440,711	-193,797,560	-192,294,512	-190,998,683	-190,479,085	-190,134,752	-189,679,883	-188,854,513	-187,736,768	-187,118,635	-186,311,002	-185,612,307	-185,306,315	-184,413,300	-182,831,197	-181,661,306	-180,591,665	-178,612,573	-177,232,790
total stockholders’ equity	89,089,677	77,935,088	21,437,818	15,644,768		26,702,938	29,444,719	30,199,665	31,708,558	33,699,736	34,894,735	35,952,525	36,851,183	28,201,788	27,737,177	29,731,238	31,825,649	32,069,062	32,939,531	33,577,485	35,990,236	36,353,027	35,667,275	34,566,941	33,914,197	33,255,975	32,248,361	33,459,126	35,069,964	35,239,586	35,062,351	35,357,444	36,061,429	32,302,463	30,169,082	29,721,169	22,900,955	21,798,116	11,356,880	10,931,912	10,485,659	8,684,338	8,936,330	7,999,644	8,292,749	7,008,345	6,784,338	7,140,026	7,207,089	6,987,837		5,635,536	4,477,031	4,252,136	4,002,464	3,310,134	3,748,136	4,008,727	4,035,901	3,922,966	4,161,560	4,387,887	4,244,688	2,907,070	2,737,466	2,570,413	1,691,226	1,913,348	2,609,644	2,802,008	2,159,761	3,143,101	4,213,782	5,708,397	4,124,771	5,382,761	5,779,597	6,049,031	6,429,524	7,170,592	4,627,433	5,180,701	5,930,054	5,597,423	5,822,133	6,464,086	7,988,719	9,078,213	8,158,452	10,047,556	11,180,782
total liabilities, convertible preferred stock and stockholders’ equity	144,265,179	148,558,508	87,260,250	81,505,766
trade accounts receivable, net of allowance of 34,766 and 24,495		8,583,487
trade accounts receivable, net of allowance of 30,005 and 24,495			9,594,379
500,000 shares authorized; none issued and outstanding
94,500,000 shares authorized;
44,670,213 and 42,949,307 shares issued and outstanding			446,702
trade accounts receivable, net of allowance of 24,495 and 25,676				9,455,310
commitments and contingencies - note 15
trade accounts receivable, net of allowance of 23,514 and 25,676					7,651,086
liabilities and stockholders equity
warrant liability					3,961,023																														407,620	490,500	665,406	342,231	621,469	717,393	690,150	1,882,535	827,356	1,195,470	356,123	250,605	785,389	1,009,614	878,916	843,903	1,102,021	599,194	821,960		1,087,296
stockholders equity:
total stockholders equity					15,724,400
total liabilities, convertible preferred stock and stockholders equity					81,420,816
trade accounts receivable, net of allowance of 20,172 and 25,676						5,279,634
total liabilities and stockholders’ equity						45,828,191	48,444,390	48,086,964	49,705,472	54,064,589	55,312,749	53,536,184	55,322,547	46,974,052	47,490,241	50,713,921	52,301,859	51,856,713	54,074,635	54,610,990	48,708,471	49,896,607	48,700,683	47,574,918	46,057,607	46,833,487	46,110,159	45,973,180	46,910,030	46,401,690	45,979,070	47,117,114	47,558,671	47,768,340	47,074,009	46,672,214	39,713,188	38,811,956	16,207,055	15,589,193	14,606,517	13,665,331	13,256,188	12,714,522	11,360,957	10,376,159	10,299,182	10,258,117	10,141,108	9,889,837		8,216,070	8,581,518	8,442,280	8,271,093	6,939,125	7,090,959	7,498,112	7,121,476	7,041,233	7,152,111	7,267,060	7,455,595	6,898,380	6,564,638	6,199,461	5,829,596	5,453,334	5,919,051	6,603,473	5,489,011	5,884,303	6,472,904	8,010,198	6,627,524	7,585,648	8,020,977	8,657,727	9,174,034	9,243,121	7,132,344	7,371,507	7,608,909	7,142,459	8,026,111	8,663,800	9,681,089	10,207,364	9,671,543	11,357,894	12,498,064
trade accounts receivable, net of allowance of 20,870 and 25,676							5,196,840
the accompanying notes are an integral part of these condensed consolidated financial statements.
restricted cash									150,000	2,345,644	2,542,993	2,457,486																		1,000,000	1,000,000	1,000,000
trade accounts receivable, net of allowance of 25,676 and 18,502								4,928,931
94,500,000 and 44,500,000 shares authorized;
39,254,643 and 37,344,739 shares issued and outstanding								392,546
trade accounts receivable, net of allowance of 25,781 and 18,502									4,661,031
trade accounts receivable, net of allowance of 23,853 and 18,502										4,708,156
44,500,000 shares authorized as of december 31, 2023 and june 30, 2023;
37,549,378 and 34,344,739 shares issued and outstanding										375,494
trade accounts receivable, net of allowance of 21,089 and 18,502											5,024,024
prepaid expenses and other assets											558,204	570,293	508,081	443,567	434,601	464,804	438,878	418,860	455,662	475,364	487,937	346,377	666,501	565,181	875,303	415,897	562,991	754,640	934,068	861,373	1,162,517	1,058,610	1,043,603	629,396	665,791	641,469	615,353	353,554	581,377	652,308	481,678	376,413	211,734	244,075	325,910	324,448	384,295	395,590	389,998	356,504	262,236	341,786	229,083	297,185	201,459	209,858	340,421	233,634	189,630	219,220	130,127	202,890	223,908	360,363	203,653	262,691	206,625	581,801	568,772	156,231	277,359	314,594	94,718	147,025	220,860	283,879	97,112	109,464	145,349	95,155	118,780	188,299	180,493	152,852	236,153	319,081		684,421	544,263	770,823
other receivables											27,083			149,775	82,391		31,505	267,325	2,243	137,103	318,820			132,051				353,695	3,789	69,224	30,749	46,574	59,375	58,568	52,789	29,202	77,336	528,800	120,326	209,172	207,764	167,292	155,331	253,880	234,438	199,160	195,254	133,530	253,530	253,530	353,530	323,500	287,057	246,021	41,000	20,654			30,943								183,413
trade accounts receivable, net of allowance of 18,502 and 36,313												6,634,574
preferred stock: series d, .01 par value...
common stock: class a, .01 par value...												373,447				270,468			269,945															247,029	242,478	242,157	241,157	237,268	156,533	155,909					152,351		142,972	142,933	142,891		129,582	129,557		118,017											82,053			66,765	66,536	54,473	53,317	53,326	53,235	53,235	45,125	45,120	44,936	44,807	44,686		36,956	36,956	36,956	33,374	32,933	32,891		32,180	26,190	26,151	25,846
trade accounts receivable, net of allowance of 20,686 and 36,313													4,788,477
the accompanying notes are an integral part of these consolidated financial statements.
trade accounts receivable, net of allowance of 41,240 and 36,313														4,857,726
44,500,000 shares authorized; 27,275,515 and 27,046,790
shares issued and outstanding														272,755				270,219		269,859	265,659	261,274	261,028	258,919	258,625		258,317	258,139	258,139		257,736	257,645	257,305																																		66,970
trade accounts receivable, net of allowance of 46,691 and 36,313															4,584,019
trade accounts receivable, net of allowance of 36,313 and 45,643																5,211,292
trade accounts receivable, net of allowance of 25,692 and 45,643																	4,976,891
trade accounts receivable, net of allowance of 33,815 and 45,643																		4,955,494
44,500,000 shares authorized; 27,021,875 and 26,985,913
trade accounts receivable, net of allowance of 33,418 and 45,643																			5,927,938
trade accounts receivable, net of allowance of 45,643 and 9,917																				4,656,354
common stock: class a, .01 par value...																										258,404				257,893
44,500,000 shares authorized; 26,985,913 and 25,891,885
trade accounts receivable, net of allowance of 11,984 and 9,917																					6,158,709
44,500,000 shares authorized; 26,565,926 and 25,891,885
trade accounts receivable, net of allowance of 10,352 and 9,917																						6,842,818
44,500,000 shares authorized; 26,127,361 and 25,891,885
trade accounts receivable, net of allowance of 10,153 and 9,917																							6,258,927
44,500,000 shares authorized; 26,102,831 and 25,891,885
trade accounts receivable, net of allowance of 9,917 and 29,406																								6,188,726
deferred rent, current portion																												539,151
deferred rent, noncurrent
44,500,000 shares authorized; 25,891,885 and 25,813,895
trade accounts receivable, net of allowance of 15,189 and 29,406																									6,309,284
44,500,000 shares authorized; 25,862,529 and 25,813,895
trade accounts receivable, net of allowance of 20,780 and 29,406																										7,401,375
trade accounts receivable, net of allowance of 29,350 and 29,406																											5,527,856
44,500,000 shares authorized; 25,831,659 and 25,813,895
trade accounts receivable, net of allowance of 29,406 and 13,364																												6,210,831
capital lease obligation, current portion																												404,424	401,666	390,881	279,204	307,199	219,688	320,057	238,683	239,332	239,981	240,629	166,454	166,454	166,454	166,454	166,454	166,454	167,055	4,095	4,996	6,196	6,196	6,196	3,602	3,602	3,602	3,602	3,602												5,050	9,936	14,661	19,232	18,603				16,285						13,338	12,901	12,479	20,654	20,654
capital lease obligation, less current portion																												640,284	673,659	710,569	478,221	550,127	271,175	248,172	89,650	142,101	193,518	244,667	143,619	178,919	213,542	247,496	280,796	310,260	352,505	4,973	5,622	7,519	9,068	10,618	3,302	4,202	5,102	6,003
deferred rent, less current portion																												518,364
44,500,000 shares authorized; 25,813,895 and 25,764,544
trade accounts receivable, net of allowance of 27,145 and 13,364																													5,899,062
deferred rent																													633,526	349,703	354,536	377,364	400,605	420,954	438,854	458,839	481,492	493,540	515,856	548,202	555,832	585,225	547,730	512,679	57,128	34,221	20,522	97,856	140,630	180,971	220,216	258,280	297,138	333,121	345,726	371,509	404,403	435,605	464,262	492,065	520,839	545,749	569,286	594,710	622,289	648,035	644,056	220,066	222,391	223,027	222,818
trade accounts receivable, net of allowance of 21,956 and 13,364																														6,218,288
trade accounts receivable, net of allowance of 24,398 and 13,364																															5,240,578
44,500,000 shares authorized; 25,773,605 and 25,764,544
trade accounts receivable, net of allowance of 13,364 and 7,356																																5,370,508
44,500,000 shares authorized; 25,764,544 and 24,215,733
trade accounts receivable, net of allowance of 19,358 and 7,356																																	5,672,071
44,500,000 shares authorized; 25,730,544 and 24,215,733
the accompanying notes are an integral part of these unaudited consolidated financial statements.
trade accounts receivable, net of allowance of 31,702 and 7,356																																		5,704,779
revenue																																		8,361,373	7,572,093	28,367,489		5,869,837
cost of sales																																		4,849,657	4,282,756	13,648,030		2,573,380
gross margin																																		3,511,716	3,289,337	14,719,459		3,296,457
operating expenses:
selling, general and administrative																																		2,294,177	2,398,242	8,651,023		1,695,881
new product development																																		413,081	381,388	1,235,934		267,527
amortization of intangibles																																		329,271	329,271	693,947
loss on disposal of property and equipment																																		3,315		1,444
total operating costs and expenses																																		3,039,844
operating income																																		471,872	180,436	4,137,111		1,333,049
other income:
interest expense																																		-147,371	-168,410	-336,750		-6,252
interest expense - debt costs																																		-46,376	-32,851	-76,677
change in fair value of warrant liability																																		-243,012	48,380	-467,543		246,885
other income																																		194,729	248,124	105,645		-235,389
total other income																																		-242,030	95,243	-775,325		5,244
income before income taxes																																		229,842
benefit from income taxes																																		-193,508	57,984
net income																																		423,350	217,695	7,703,086		1,097,667
foreign currency translation adjustment																																		69,262	54,147	169,288		43,629																				62,449	50,593	24,556	-4,850	626	23,466	46,374	46,588	46,540	58,233	24,812	21,751	33,161	21,369	8,122	-1,649	-22,263	-43,059
comprehensive income																																		492,612	271,842	7,872,374		1,141,296
earnings per common share																																		0.02	0.01	0.39		0.07
number of shares used in per share calculation																																		24,525,839	24,235,058	20,001,868		16,541,205
trade accounts receivable, net of allowance of 13,548 and 7,356																																			5,196,724
total costs and expenses																																			3,108,901	10,582,348		1,963,408
net income before income taxes																																			275,679	3,361,786		1,338,293
trade accounts receivable, net of allowance of 7,356 and 4,598																																				5,890,113
income taxes																																				-4,341,300		240,626
trade accounts receivable, net of allowance of 7,313 and 4,598																																					5,740,041
3
trade accounts receivable, net of allowance of 6,761 and 4,598																																						5,594,409
deferred revenue																																						198,863								3,500				1,966	1,966	1,966	1,966		37,750	282,000
trade accounts receivable, net of allowance of 4,430 and 4,598																																							3,313,420
the accompanying notes are an integral part of these unaudited consolidated statements.
trade accounts receivable, net of allowance of 4,598 and 6,282																																								3,545,871
loan payable, current portion																																												51,585		473,451	54,982
trade accounts receivable, net of allowance of 4,494 and 6,282																																									3,028,946
5,000,000 shares authorized; none issued and outstanding
40,000,000 shares authorized; 15,590,945 and 15,235,073
shares issued and outstanding, respectively																																									155,909	152,646	152,398	152,351		143,043							118,017		117,120	97,681	97,611	97,611	97,131	97,112		96,417	89,716	82,815		80,994
trade accounts receivable, net of allowance of 4,484 and 6,282																																										2,854,635
40,000,000 shares authorized; 15,264,581 and 15,235,073
2
trade accounts receivable, net of allowance of 4,526 and 6,282																																											2,894,902
40,000,000 shares authorized; 15,239,775 and 15,235,073
trade accounts receivable, net of allowance of 6,282 and 5,801																																												3,048,754
loan payable, less current portion																																															100,800
40,000,000 shares authorized; 15,235,073 and 14,293,305
trade accounts receivable, net of allowance of 4,309 and 5,801																																													2,431,474
4
trade accounts receivable, net of allowance of 5,001 and 5,801																																														2,411,070
40,000,000 shares authorized; 14,304,283 and 14,293,305
trade accounts receivable, net of allowance of 5,936 and 5,801																																															2,043,048
trade accounts receivable, net of allowance of 9,910 and 20,617																																																2,453,062
trade accounts receivable, net of allowance of 10,633 and 20,617																																																	2,333,059
trade accounts receivable, net of allowance of 10,659 and 20,617																																																		1,997,143
40,000,000 shares authorized; 13,794,114 and 12,958,239 shares issued and outstanding, respectively																																																		137,941
trade accounts receivable, net of allowance of 20,617 and 18,214																																																			2,126,907
prepaid interest expense																																																					50,750	72,500	7,250	29,000	50,750	72,500	7,250	29,380	51,415	80,392	167,635	219,653	316,690	316,690	366,219
debt costs																																																						3,016	3,882	4,732	5,564	6,380	7,180	7,964			151,530	190,150	229,232	262,854	299,080	331,744	363,764	526,870
liabilities and stockholders' equity
8% convertible debentures to related parties																																																					1,012,500	1,012,500	1,012,500	1,012,500	1,012,500	1,012,500
8% convertible debentures																																																							75,000	75,000	75,000	75,000
stockholders' equity:
total stockholders' equity																																																			5,429,636
total liabilities and stockholders' equity																																																			8,377,484
trade accounts receivable, net of allowance of 27,600 and 18,214																																																				2,234,361
trade accounts receivable, net of allowance of 3,003 and 18,214																																																					2,409,606
current debt costs																																																					2,132								44,036	68,008
8% convertible debentures, net of debt discount																																																					75,000	75,000					75,000	14,147	751,672		1,339,975	1,386,622	1,388,515	1,314,521	1,270,725	1,243,093	1,137,580	1,411,718
40,000,000 shares authorized; 11,801,684 and 11,711,952
the accompanying notes are an integral part of these consolidated statements.
trade accounts receivable, net of allowance of 6,596 and 18,214																																																						2,082,146
derivative liability, warrant																																																						991,512
accumulated other comphrehensive income																																																						85,101		81,610
trade accounts receivable, net of allowance of 18,214 and 7,245																																																							2,133,079
capital lease obligation																																																							6,903
40,000,000 shares authorized; 11,711,952 and 9,713,099
trade accounts receivable, net of allowance of 15,191 and 7,245																																																								2,396,639
40,000,000 shares authorized; 9,768,100 and 9,713,099
trade accounts receivable, net of allowance of 15,802 and 7,245																																																									1,833,358
40,000,000 shares authorized; 9,761,129 and 9,713,099
trade accounts receivable, net of allowance of 7,245 and 7,245																																																										2,069,979
trade accounts receivable, net of allowance of 7,245 and 22,930																																																											1,833,044
8% convertible debentures to related parties, net of debt discount																																																											1,012,500	1,016,250	239,537		213,890	195,294	195,294	184,887	175,255	120,891	146,025	194,700
40,000,000 shares authorized; 9,713,099 and 8,971,638
trade accounts receivable, net of allowance of 8,575 and 22,930																																																												1,605,111
40,000,000 shares authorized; 9,711,213 and 8,971,638
trade accounts receivable, net of allowance of 20,027 and 22,930																																																													1,659,382
property and equipment - net																																																													2,565,809	2,429,982	2,344,692		2,210,432	1,877,344	1,991,828	1,666,410		1,774,507		2,044,256			1,563,250		1,553,279	1,385,818	1,172,651	1,253,787	1,431,546	1,202,192	1,335,612	1,580,893	1,847,559	2,099,325	2,343,783	2,562,433
intangible assets - net																																																													117,567	125,784	134,001		150,435	158,652	166,869	175,086		191,520		207,954			232,605		249,039	257,256	265,473	273,690	281,906	290,316	325,008	363,225	401,441	439,727	905,896	1,477,598
40,000,000 shares authorized; 9,706,596 and 8,971,638 shares issued and outstanding, respectively																																																													97,066
trade accounts receivable, net of allowance of 26,221 and 22,930																																																														1,763,975
current 8% convertible debentures to related parties, net of debt discount																																																														228,427
current 8% convertible debentures, net of debt discount																																																														802,604
40,000,000 shares authorized; 9,641,660 and 8,971,638
trade accounts receivable, net of allowance of 22,930 and 26,131																																																															1,804,063
note payable, current portion																																																																	27,640	69,301	152,758	152,624	166,645	166,645	166,645				166,645
40,000,000 shares authorized; 8,971,638 and 6,696,992
trade accounts receivable, net of allowance of 24,423 and 26,131																																																																1,975,213
property and equipment – net																																																																2,339,754																										2,868,039	3,096,606
intangible assets – net																																																																142,218																										2,410,720
40,000,000 shares authorized; 8,281,530 and 6,696,992
trade accounts receivable, net of allowance of 27,024 and 26,131																																																																	1,467,357
trade accounts receivable, net of allowance of 43,787 and 26,131																																																																		966,318
40,000,000 shares authorized; 8,099,361 and 6,696,992
common stock payable																																																																		50,000
trade accounts receivable, net of allowance of 26,131 and 44,862																																																																			973,634
accrued severance																																																																					4,229	64,990	97,401	181,942	273,588	346,060
secured note payable																																																																							260,828
capital lease obligation, excluding current portion																																																																							5,050			19,232	23,653	27,929	32,066	36,067	39,937	43,681	47,302	50,805	54,193	48,887	51,662
note payable, excluding current portion																																																																					27,774	69,435	111,097	152,758	194,419	236,080	277,741
40,000,000 shares authorized; 6,696,992 and 5,331,664
trade accounts receivable, net of allowance of 44,304 and 44,862																																																																				1,052,949
trade accounts receivable, net of allowance of 57,813 and 44,862																																																																					1,307,213
property and equipment—net																																																																					1,760,784		1,937,741		1,790,848	1,586,975		1,535,490													2,709,379
intangible assets—net																																																																					183,303		199,737		216,171	224,388		240,822													1,944,109
trade accounts receivable, net of allowance of 64,713 and 44,862																																																																						1,566,025
trade accounts receivable, net of allowance of 44,862 and 28,968																																																																							1,334,856
trade accounts receivable, net of allowance of 46,869 and 28,968																																																																								1,387,171
notes payable																																																																								166,645	166,645	166,645				272,810	270,710	257,410
capital lease obligations, current portion																																																																								17,994	17,405	16,835		15,752	15,236	14,738	14,255	13,789
capital lease obligations, excluding current portion																																																																								9,936	14,661
trade accounts receivable, net of allowance of 51,506 and 28,968																																																																									1,257,348
trade accounts receivable, net of allowance of 92,018 and 28,968																																																																										1,352,960
trade accounts receivable, net of allowance of 28,968 and 85,800																																																																											1,408,815
trade accounts receivable, net of allowance of 48,240 at march 31, 2007 and 85,800 at june 30, 2006																																																																												1,868,386
notes payable, current portion																																																																												166,645	147,657
notes payable, excluding current portion																																																																												319,402	295,313
trade accounts receivable, net of allowance of 152,165 at
december 31, 2006 and 85,800 at june 30, 2006																																																																													2,004,605
trade accounts receivable, net of allowance of 99,320 at september 30, 2006 and 85,800 at june 30, 2006																																																																														2,022,285
trade accounts receivable, net of allowance of 85,800 and 26,500 respectively																																																																															1,891,024
unearned compensation																																																																																	-81,912	-148,269	-222,230	-250,172	-244,465	-141,386	-198,857	-246,510	-341,544	-461,905	-534,017
trade accounts receivable, net of allowance of 85,800 and 26,500, respectively																																																																																2,242,311
34,500,000 shares authorized; 4,426,268 and 3,695,644 shares issued and outstanding at march 31, 2006 and june 30, 2005, respectively																																																																																44,263
trade accounts receivable, net of allowance of 10,000 and 26,500, respectively																																																																																	1,678,614
trade accounts receivable, net of allowance of 26,500 and 26,500, respectively																																																																																		1,844,559
trade accounts receivable, net of allowance of 26,500 and 165,387-, respectively																																																																																			1,456,612
current liabilities
accrued restructuring costs																																																																																						31,063	41,276
trade accounts receivable, net of allowance of 118,932 and 165,387, respectively																																																																																				1,775,106
accrued severance and exit costs																																																																																				3,404	20,850			51,489	62,430	77,324	87,537
trade accounts receivable, net of allowance of 163,132 and 165,387, respectively																																																																																					1,900,400
trade accounts receivable, net of allowance of 158,002 and 165,387, respectively																																																																																						1,889,063
trade accounts receivable - net of allowance of 165,387 and 463,370, at june 30, 2004 and 2003, respectively																																																																																							1,797,113
prepaid expenses and other																																																																																							500,328				542,792
liabilities and stockholder’ equity
account payable																																																																																							656,263
commitments and contigencies
preferred stock: 5,000,000 shares authorized; none outstanding
trade accounts receivable, net of allowance of 132,605 and 463,370, respectively																																																																																								1,254,236
trade accounts receivable, net of allowance of 243,201 and 463,370, respectively																																																																																									1,332,392
trade accounts receivable, net of allowance of 386,258 and 463,370, respectively																																																																																										1,276,177
trade accounts receivable – net of allowance of 463,370 and 278,255, at june 30, 2003 and 2002, respectively																																																																																											1,267,465
other receivables and advances to employees
goodwill and intangible assets – net																																																																																											2,958,637
investment in lightchip, inc.
capital lease obligations and note payable

Cashflow Statements:

Quarterly

Annual

Unit: USD	2026-03-31	2025-12-31	2025-09-30	2025-06-30	2025-03-31	2024-12-31	2024-09-30	2024-06-30	2024-03-31	2023-12-31	2023-09-30	2023-06-30	2023-03-31	2022-12-31	2022-09-30	2022-06-30	2022-03-31	2021-12-31	2021-09-30	2021-06-30	2021-03-31	2020-12-31	2020-09-30	2020-06-30	2020-03-31	2019-12-31	2019-09-30	2019-06-30	2019-03-31	2018-12-31	2018-09-30	2018-06-30	2018-03-31	2017-12-31	2017-09-30	2017-06-30	2017-03-31	2016-12-31	2016-09-30	2016-06-30	2016-03-31	2015-12-31	2015-09-30	2015-06-30	2015-03-31	2014-12-31	2014-09-30	2014-06-30	2014-03-31	2013-12-31	2013-09-30	2013-06-30	2013-03-31	2012-12-31	2012-09-30	2012-06-30	2012-03-31	2011-12-31	2011-09-30	2011-06-30	2011-03-31	2010-12-31	2010-09-30	2010-06-30	2010-03-31	2009-12-31	2009-09-30	2009-06-30	2009-03-31	2008-12-31	2008-09-30	2008-06-30	2008-03-31	2007-12-31	2007-09-30	2007-06-30	2007-03-31	2006-12-31	2006-09-30	2006-06-30	2006-03-31	2005-12-31	2005-09-30	2005-06-30	2005-03-31	2004-12-31	2004-09-30	2004-06-30	2004-03-31	2003-12-31	2003-09-30

cash flows from operating activities:
net loss	-4,106,287	-9,405,409	-2,893,002	-7,055,980	-3,582,460	-2,611,997	-1,622,745	-2,353,773	-2,597,534	-1,713,663	-1,342,376	-808,840	-1,163,270	-694,061	-1,380,700	-1,359,790	-495,003									769,117	-1,375,157																	-367,234	89,791	141,213	-579,050									195,864	-518,985	-343,299	-198,447	429	-375,728	-373,714	-852,950	91,686	12,052	41,676	-706,373	-317,568	-756,175	-1,725,508	-1,023,809	-1,131,301	-1,190,269	-1,643,151	-1,503,048	-1,295,829	-519,598	-344,333	-454,869	-825,370	-1,117,745	-618,134	-807,632	-698,695	-305,992	-893,014	-1,582,104	-1,169,892	-1,069,640	-1,979,092	-1,379,783
adjustments to reconcile net loss to net cash from operating activities:
depreciation and amortization	1,263,005	1,235,738	1,218,948	792,488	1,463,150	904,040	989,562	1,062,559	1,042,850	1,129,444	813,556	815,019	778,668	764,548	816,334	854,123	924,219	928,439	910,962	900,964	917,309	864,855	826,308	837,123	827,095	868,148	892,072	923,193	857,287	821,530	862,146	911,578	866,329	821,016	804,658	840,207	721,636	269,131	249,465	238,961	219,377	208,450	181,202	145,055	116,866	145,899	129,323	122,255	119,577	200,542	223,948	211,900	193,039	199,658	208,637	266,317	286,014	326,269	245,438	257,798	227,861	215,727	211,543	203,249	193,795	158,267	145,164	133,483	111,587	144,265	176,653	128,715	117,165	109,509	103,962	109,162	119,767	123,671	119,622	153,294	190,241	187,630	259,982	327,004	304,841	300,491	737,388	758,814	736,917	724,677	822,793
interest from amortization of loan issuance costs	0	51,812	38,312	51,924	41,072	75,000	45,833
amortization of fair value of loan	0	37,777	52,544
loss on extinguishment of debt	0			0																																																								0
change in fair value of warrant liability				2,224,270																												0	0	243,012	-48,380	9,759	748,169	-246,885	-43,500	27,243	-661,854	1,055,179	-368,114	839,347	105,518	-534,784	53,958	-278,183	130,698	35,013	18,952	502,827	-222,766
change in fair value of acquisition earnout liabilities	3,393,000	7,559,000	1,282,529
earnout payment for acquisition of g5, net of financing portion
loss on disposal of property and equipment	0	17	3,999	14,355	2,068	0	78,437	111,336				-22,463	-58,652			8,898				0						-79,224	-50,000		-136,125	-15,500	58,757	-3,573	0							-1,028	34,189			-1,700	0	0	218	39	-587	40	1,058	0	1,026	545	702
stock-based compensation on stock options, rsus & rsas	562,967	338,949	359,661	298,309	239,135	241,545	264,475	255,765	211,405	311,778	240,075	239,774	299,038
provision for credit losses	-14,461	-6,183	-5,390	0				-4
change in operating lease assets and liabilities	-52,786	-68,580	-60,448	-182,042	-33,929	-31,874	-25,779	135,700	-32,662	55,409	24,946	-142,255	-19,153	-26,622	-43,531	-37,989	-60,524
inventory write-offs to allowance	67,233			7,737	0	113,855	21,770	41,137	21,970			245,731	68,333			268,527	82,018	45,058	60,935	12,658	11,537	20,922	112,282	89,989
deferred taxes	1,832	-66,710	555	-219,609	427	-8,353	5,558	-130,376	-822	6,416	2,979
changes in operating assets and liabilities, net of acquisitions:
trade accounts receivable	-2,084,361	1,017,075	-133,679	-1,804,224	-471,340	-82,794	-267,909	-267,896	49,311	318,123	1,399,160	-1,844,633	48,206	-274,738	639,725	-221,914	-29,587	972,444	-1,283,594	1,536,522	685,741	-583,891	-70,201	111,501	1,091,469	-1,882,666	682,975	-310,004	325,346	-979,862	130,855	306,367	64,324
other current assets	-162,311	-10,842	27,800	17,665	32,076	-87,673	128,959	288,620	-228,416
inventories	532,880	-777,142	-3,335	-179,350	-1,193,335	247,910	-260,915	235,279	670,999	-90,517	144,978	575,743	-1,386,265	89,200	-20,282	363,895	-384,802	1,348,358	-109,829	211,038	798,457	-66,765	-775,234	-837,412	-732,613	474,359	-332,161	209,531	-1,020,410	-477,152	-116,989	-317,793	-191,363	-389,622	-432,216	-65,466	-95,925	111,857	-269,111	-259,303	-326,182	-227,899	-103,515	234,691	-105,632	203,929	-191,382	-375,615	-141,158	-269,359	-320,382	57,687	-99,141	-128,226	-87,617	50,057	229,255	25,493	-195,552	56,479	-218,374	-239,700	-83,364	-47,353	-37,363	2,050	-71,734	224,692	-53,570	22,431	146,724	129,338	89,838	216,152	94,441	-140,392	-86,981	59,481	191,361	-310,007	361,400	119,620	-306,312	-91,289	-61,431	14,442	-223,415	-332,632	-101,518	49,469	2,216
prepaid expenses and deposits	-2,158,004	-152,039	127,786	34,524	-236,841	-32,519	-91,079	37,910	1,281
accounts payable and accrued liabilities	-226,620	2,416,124	-1,159,122	1,718,330	951,212	535,445	-966,368	648,437	456,330	-294,710	-129,600	-854,080	1,132,419	-639,467	-616,494	395,535	-9,783	-673,805	-799,693	1,083,133	-359,503	602,685	96,727	954,973	-1,004,360	137,104	9,443	421,209	549,677	245,943	-333,650	322,099	-55,961	-763,813	319,537	250,887	11,259	218,778	365,587	566,270	390,462	-251,677	19,092	343,033	-461,572	54,436	130,796	414,830	97,697	40,863	241,605	-96,549	-173,929	118,813	68,554	-188,130	37,062	-115,360	432,467	9,258	46,052	176,110	214,637	-726,928	221,250	181,130	-478,222	97,150	199,045	-122,377	-827,501
net cash from operating activities	-6,797,500	2,823,763	-1,142,842	-2,649,943	-3,243,831	-737,415	-1,700,201	64,694	-394,226	-289,420	1,139,989	-1,888,937	-168,860	-336,371	-415,355	1,111,730	509,770	1,460,310	-1,617,682	1,655,789	1,534,200	879,597	662,438	1,863,030	931,312	488,406	450,065	385,238	424,118	-99,192	-298,979	-53,723	1,054,470	-36,849	1,655,090	2,068,014	1,388,892	620,245	921,893	289,887	189,790	81,195	964,841	747,276	-258,552	-209,377	-100,384	38,815	90,428	-468,935	250,915	622,119	24,358	-69,295	-21,026	309,166	-160,039	139,258	117,349	161,652	-121,972	97,509	-42,287	41,268	-32,663	225,042	-704,352	711,330	-92,079	-484,050	-1,603,154	-273,220	-775,488	-1,091,995	-1,250,833	-418,062	-534,051	-608,082	-297,109	74,133	-1,423,051	24,062	-661,927	9,113	-374,549	-322,921	-412,268	-328,414	-781,215	-839,491	-538,950
capital expenditures	-899,486	-867,895	-77,014	-681,576	-420,571	-80,423	-79,732	-290,145	-408,259	-529,399	-955,002	-751,999	-1,913,604	-168,158	-243,393	-133,946	-175,295	-118,368	-1,199,005	-437,217	-560,857	-943,893	-1,216,817	-937,758	-351,794	-896,654	-256,573	-258,353	-493,298	-510,105	-670,079	-35,970	-581,133	-489,304	-1,411,278	-810,388	-539,518	-485,961	-387,259	-375,298	-159,728	-398,082	-197,990	-172,901	-110,994	-106,297	-303,442	-619,939	-419,966	-716,893	-225,515	-426,250	-182,497	-317,654	-171,069	-48,018	-37,978	-195,369	-347,228	-213,794	-62,644	-343,337	-288,616	-199,970	-314,900	-465,406	-7,452	-439,880	-7,871	-101,592	-14,421	-13,983	-296,284	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0	0
free cash flows	-7,696,986	1,955,868	-1,219,856	-3,331,519	-3,664,402	-817,838	-1,779,933	-225,451	-802,485	-818,819	184,987	-2,640,936	-2,082,464	-504,529	-658,748	977,784	334,475	1,341,942	-2,816,687	1,218,572	973,343	-64,296	-554,379	925,272	579,518	-408,248	193,492	126,885	-69,180	-609,297	-969,058	-89,693	473,337	-526,153	243,812	1,257,626	849,374	134,284	534,634	-85,411	30,062	-316,887	766,851	574,375	-369,546	-315,674	-403,826	-581,124	-329,538	-1,185,828	25,400	195,869	-158,139	-386,949	-192,095	261,148	-198,017	-56,111	-229,879	-52,142	-184,616	-245,828	-330,903	-158,702	-347,563	-240,364	-711,804	271,450	-99,950	-585,642	-1,617,575	-287,203	-1,071,772	-1,091,995	-1,250,833	-418,062	-534,051	-608,082	-297,109	74,133	-1,423,051	24,062	-661,927	9,113	-374,549	-322,921	-412,268	-328,414	-781,215	-839,491	-538,950
cash flows from investing activities:
purchase of property and equipment	-899,486	-867,895	-77,014	-681,576	-420,571	-80,423	-79,732	-290,145	-408,259	-529,399	-955,002	-751,999	-1,913,604	-168,158	-243,393	-133,946	-175,295	-118,368	-1,199,005	-437,217	-560,857	-943,893	-1,216,817	-937,758	-351,794	-896,654	-256,573	-258,353	-493,298	-510,105	-670,079	-35,970	-581,133	-489,304	-1,411,278	-810,388	-539,518	-485,961	-387,259	-375,298	-159,728	-398,082	-197,990	-172,901	-110,994	-106,297	-303,442	-619,939	-419,966	-716,893	-225,515	-426,250	-182,497	-317,654	-171,069	-48,018	-37,978	-195,369	-347,228	-213,794	-62,644	-343,337	-288,616	-199,970	-314,900	-465,406	-7,452	-439,880	-7,871	-101,592	-14,421	-13,983	-296,284
proceeds from sale of equipment				0	0	0	10,648					143,669												0	7,413	129,573	50,000	366,500	206,250	15,500	95,000									0	0																			12,729	7,211	0	540					0	0	1,200	36,591
acquisition of amorphous
acquisition of g5				1,763,342
net cash from investing activities	-7,899,597	-867,895	-77,014	1,081,766	-20,670,582	44,577	-194,084	-290,145	-533,259	-679,399	-1,162,433	-608,330	-1,848,104	-168,158	-243,393	-133,946	-175,295	-118,368	-1,199,005	-437,217	-560,857	-943,893	-1,216,817	-937,758	-344,381	-767,081	-206,573	108,147	-287,048	-494,605	-575,079	-35,970	-581,133	-489,304	-1,411,278	-810,388	-539,518	-12,263,297	-387,259	-375,298	-159,728														-171,069	-48,018	-37,978	-195,369	-347,228	-201,065	-55,433	-343,337	-288,076	-190,832	-314,900	-465,406	-7,452	-439,880	-7,871	-100,392	22,170	-3,343			-119,470	-128,705	-93,761	-282,915	-324,572	-63,941			-64,527	-82,382	39	76,008	-14,663	-67,445	-117,009	9,777	-46,836
cash flows from financing activities:
proceeds from exercise of stock options				0																-1	13,859	2,734	126,100					0	9,506			31,851	90,449							0	3,622																			1,981	0	0	5,653	0															121						202
proceeds from sale of common stock from employee stock purchase plan				0	4,013	0	10,372	0	19,958	0	19,719	0	20,510	0	19,870	0	29,985	0	21,726	2	18,967	0	11,009	0	12,445	0	12,167	-3,484	21,081	0	20,841	0	29,511	0	19,080	0	10,034	0	9,598	0	14,675	0	8,228	1	0	8,327	4,902	0	4,901	0	2,512	0	5,187	0	3,794	-550	6,274	0	7,871	0	7,249	0	4,888	0	3,775	0	3,082	0	3,029	0	11,191
proceeds from issuance of common stock under public equity placement, net of fees	-98,293
proceeds from issuance of common stock under private equity placement, net of fees	0	0	7,894,045	0
proceeds from issuance of preferred stock under private equity placement, net of fees				-167,112
proceeds from issuance of warrants under private equity placement, net of fees
earnout payment for acquisition of g5, net of operating portion
deferred payment for acquisition of visimid				0	0
borrowings on loans payable				0	3,659,596	0	3,000,000	136,073	0							0	0	0	266,850
loan issuance costs				0	-297,465	0	-300,000
payments on loans payable	-29,111	-5,356,712	-57,107	-54,982	-42,632	-52,791	-53,695	-196,676	-1,855,288	-200,992	-206,518	-203,357	-1,243,401	-235,596	-169,902	-171,547	-172,769	-173,227	-163,758
repayment of finance lease obligations	-60,377	-52,314	-55,398	-53,915	-44,006	-46,261	-43,444	-44,291	-28,825	-31,723	-27,062	-9,658	-6,205	-20,061	-37,079	-39,867	-39,046	-59,407	-73,891	-71,818	-70,312	-68,831	-67,501	-171,595	-105,413	-106,607	-103,618
net cash from financing activities	-3,686,887	59,931,808	7,781,540	-276,009	27,183,105	-224,052	2,613,233	603,230	-1,765,947	-89,862	-213,861	-76,770	7,975,414	-255,657	-187,111	-211,414	-181,830	-293,857	50,927	-530,729	-196,331	59,361	-175,730	105,331	-238,306	-251,944	-236,789	-247,481	-282,125	-428,164	-443,759	-424,213	-875,613	268,195	-282,019	88,221	378,407	13,696,760	45,255	-35,204	328,424	16,509	-72,821	8,740	635,435	324,446	-6,109			257,811	1,278,897	1,603	-215,632	-901	2,894	1,596,236	82,801	-51,527	-17,129	-12,270	7,249	-650	236,102	1,093,932	-15,472	-97,971	1,387,975	-108,433	-43,491	-46,232	2,376,710	214,891	-28,881	-46,618	2,961,600	-43,899	76,157	184,516	-1,166	15,200	3,837,605	-3,066	-2,966	1,058,072	-2,573			-21,406
effect of exchange rate on cash and cash equivalents	46,694	177,377	68,698	242,337	9,127	-162,681	81,421	-56,463	-29,818	80,925	-48,227	-184,370	150,595	255,169	-363,163	-499,425	35,546	27,689	-31,953	146,152	-142,556	-75,409	729,308	-24,928	-244,519	143,056	53,766	-282,660	145,123	131,254	341,293	634,362	-943,997	-65,756	11,343	-92,353	-77,369	43,629	95,859	166,053	1,047	447,490	12,075	694	-882	-345	-468	-10,316	-4,534	4,106	9,689	-35,747	-269	3,651	-3,157	6,648	9,883	9,278	11,856	26,037	29,406	-5,476	-22,840	-22,908	-214	48	-11,693
change in cash and cash equivalents	-18,337,290	62,065,053	6,630,382										6,109,045	-505,017	-1,209,022	266,945	188,191	1,075,774	-2,797,713														-1,346,273	-323,714	-26,864	1,253,494	1,150,412	2,097,337	675,748	45,438	359,533	153,028	706,105	583,809	265,007	8,427	-410,403	-427,490	-330,720	-923,911	1,313,986
cash and cash equivalents, beginning of period	0	0	4,877,036									0	0	0	5,507,891	0	0	0	6,774,694	0	0	0	5,387,388										0	0	8,085,015	0	0	0	2,908,024	0	0	0	1,643,920	0	0	0	1,197,080	0	0	0	1,565,215	0	0	0	2,354,087	0	0	0	928,900	0	0	0	1,464,351	0	0	0	579,949	0	0	0	358,457	0	0	0	1,291,364	0	0	0	3,763,013	0
cash and cash equivalents, end of period	-18,337,290	62,065,053	11,507,418										6,109,045	-505,017	4,298,869	266,945	188,191	1,075,774	3,976,981	833,995	634,456	-80,344	5,386,587										-1,346,273	-323,714	8,058,151	1,253,494	1,150,412	2,097,337	3,583,772	45,438	359,533	153,028	2,350,025	583,809	265,007	8,427	786,677	-427,490	-330,720	-923,911	2,879,201	161,725	-374,040	-384,199	2,161,729	1,864,032	-105,333	-98,360	693,748	-25,646	-140,750	-251,954	1,347,250	921,460	-363,249	-338,287	1,244,427	199,881	-143,441	-630,674	1,154,183	-61,672	-1,093,653	-1,368,879	2,882,661	-590,666	-551,655	-706,481	3,140,166	25,392
supplemental disclosure of cash flow information:
interest paid in cash	17,059	195,435	177,963	207,340	25,298	19,848	20,990	34,865	50,902	52,377	58,397	51,664	63,715	57,591	48,803	39,313	36,561	40,067	41,466	47,987	46,508	50,940	54,089	68,303	80,366	86,371	95,870	121,446	112,474	128,152	138,913	128,756	101,376	230,264	85,910	243,064	78,332	6,252	6,941	7,526	8,288	8,943	12,870	5,218	2,931	6,762	3,369	574	349	245	175	117	202	175	1,380	0						0	80	0	420	-1,710	4,767	3,249	3,929	5,362	22,277
income taxes paid	24,255	113,990	56,282	88,105	56,589	44,524	16,903	46,071	5,834	81,546	33,407	105,500	105,047	77,611	140,756	24,423	46,059	85,568	111,535	266,943	274,790	271,206	241,293	84,243	192,205	192,117	57,660	108,927	49,935	119,719	127,945	-176,020	116,057	110,420	336,014	335,235	231,016	-2,239	116,043	2,240	-2,028	2,028	2,056	480	800	0	1,036	447	375	0	2,166	0	614	0	1,736	480	0	1,939	1,755	350	3,919	50	110	840	2,990
supplemental disclosure of non-cash investing & financing activities:
purchase of equipment through finance lease arrangements	233,570			0	0			4,951	329,453	14,966	46,688	367,127
operating right-of-use assets acquired in exchange for operating lease liabilities	1,521,178	0	435,733
issuance of common stock for acquisition of visimid	0	0	350,000	0	392,588
issuance of common stock for acquisition of g5, including earnouts
issuance of common stock for acquisition of aml, including earnouts
accrual of earnout consideration for acquisition of g5
accrual of earnout consideration for acquisition of aml
extinguishment of debt in exchange for common stock, preferred stock, warrants and a note
proceeds from sale-leaseback of equipment								0	0	0	364,710
acquisition of visimid, net of cash acquired
proceeds from issuance of common stock under public equity placement								708,124				-5,000																								19,287	-1,641
change in cash, cash equivalents and restricted cash				-1,601,849	3,277,819	-1,079,571	800,369	321,316	-2,723,250	-977,756	-284,532
cash, cash equivalents and restricted cash, beginning of period				0	0	0	3,480,268	0	0
cash, cash equivalents and restricted cash, end of period				-1,601,849	3,277,819	-1,079,571	4,280,637	321,316	-2,723,250	-977,756	6,859,958
issuance of common stock for acquisition of g5				0
accrual of earnout consideration for acquisiton of g5
proceeds from issuance of warrants under private equity placement
extinguishment of debt in exchange for common stock, preferred stock warrants and a note
changes in operating assets and liabilities:
the accompanying notes are an integral part of these unaudited condensed consolidated financial statements.
acquisition of visimid technologies, net of cash acquired							-125,000	0	-125,000	-150,000	-572,141
the accompanying notes are an integral part of these condensed consolidated financial statements.
interest from amortization of debt costs												3,094	18,560	18,560	18,560	18,560	18,560	10,211	4,643	4,643	4,643	4,643	4,643	4,643	4,643	4,643	4,643	4,643	100,656	5,981	5,981	5,981	5,983	3,861	3,860	3,860								0	0	625	12,645	25,291	0			0	2,132	884	866	850	832	816	800	784	10,699	23,972	83,522	38,620	39,082	33,622	36,226
equipment deposit paid in restricted stock
provision for doubtful accounts receivable										-2,255	19	-1,464	21,043	1,031	-12,452	-12,487	8,190	0	12,010	-34,167				9,057	622			-2,222	-5,905	2,297	-828						-542			0	0	0	-289	-1,961	0	-13,648	-136	-3,099	-11,578																-2,601	-16,763	17,656	-18,173	-13,510	-6,899	19,851	-2,007	-4,637	-40,512	63,050		-28,805	52,845	13,520						-44,200
other receivables											-27,083			-67,384	-82,391	31,505	235,820	-265,082	134,860	181,717	-318,820	0	132,051	-132,051	0	0	353,695	-348,923	65,433	-38,475	15,617	13,021	-812	-5,789	-22,417	17,151	48,487	6,359	88,073	-2,350	-21,101	-34,501	98,549	-19,442	-35,278	-3,906	4,722	-66,446	120,000	0	100,000	-30,030	-36,443	-41,036	-205,021	-20,346	-20,654	0	30,943					0	0	0	183,413
prepaid expenses and other assets											13,335	-34,168	-64,611	-9,887	10,874	-25,926	-20,018	36,802	19,702	12,573	-141,560	119,649	147,148	205,162	-139,976	147,094	190,940	211,725	-33,760	326,019	-111,059	-276,123	-406,043	16,692	-19,786	-19,932	-232,175	374,248	29,680	-173,994	-104,171	-169,620	32,341	81,835	-40,689	59,222	-98,737	72,096	-5,592	-63,643	-94,268	79,550	-61,953	102,852	-73,976	37,649	75,786	-33,510	2,746	51,720	-67,058	101,740	108,261	198,549	-69,749	69,042	1,680	80,439	-16,615	20,721	-3,420	37,235	-219,876	52,307	73,835	67,822	-191,570	12,352	38,310	-36,154	49,031	51,834	17,853		124,783	95,253	195,095		-129,775	238,112	99,760
cash and cash equivalents and restricted cash, beginning of period											7,144,490													0	0	0	4,604,701	0	0	0	6,508,620
loan costs																0	0											0				-800				0	0
deferred tax benefit													7,049	9,927	-29,596													378,000	0	-108,000	-298,000
purchase of equipment through capital lease arrangements																												68,044	50,459			457,027	0			0	0							0
stock-based compensation on stock options & rsus															284,598	283,778	240,343	184,538	116,591	199,788	200,061	106,167	136,849	-1,699	74,047	79,930	98,459	98,493
gain on disposal of property and equipment																						-477	-45	21,802
net income																			-632,097	-2,913,210			97,068	656,952				-1,761,690	-352,018	16,276	-582,891	-807,220	1,226,278	423,351	217,695	6,364,099	100,824	1,097,667	140,496	331,467	775,758	-535,583	842,973					102,451	-133,322	-202,033	-80,345	-243,765	217,094	140,772	101,221
adjustments to reconcile net income to net cash from operating activities:
change in operating lease liabilities																			-52,172	-51,870	-48,942	-41,646	-45,158	-50,010	-43,657	-39,246	-24,844
deferred tax expense																																					0
the accompanying notes are an integral part of these consolidated financial statements.
borrowings on loan payable																					0							0				0				0	0								-1,368
payments on loan payable																					-158,845	-149,919	-245,338	-145,337	-145,338	-145,337	-145,338	-145,336	-5,956,768	-364,700	-364,699														-472,083	-196,108	-9,163
change in cash and cash equivalents and restricted cash																					634,456	-80,344	-801	1,005,675	104,106	-387,563	60,469	-36,756	68	-890,707	-976,524
payments on capital lease obligations																												-98,661	-76,584	-67,725	-99,901	-90,564	-77,366	-66,324	-53,100	-52,066	-51,797	-54,777	-35,300	-34,623	-33,954	-33,300	-29,464	-42,846	-13,168	-1,550	-1,848	-1,248	-1,549	-1,550	-3,062
cash and cash equivalents and restricted cash, end of period																								1,005,675	104,106	-387,563	4,665,170		68	-890,707	5,532,096
landlord credits for leasehold improvements
inventory write-offs to reserve																												122,041	1,079			53,495					3,244	3,508	41,143
change in fair value of sellers note																																0
deferred rent amortization																												423,421	-25,624	-4,268	-22,828	-23,241	-20,349
proceeds from exercise of warrants, net of costs																																0	-5,000	509,068	30,250	121,000	421,811	91,911	70,957	1	363,450							253	0	259,361	1,279,447
reclassification of warrant liability upon exercise																																0	0	650,632	34,500	184,665	424,994											0	0
derecognition of liability associated with stock option grants																																0	0			0	0			0	0
conversion of sellers note to common stock																																0
stock-based compensation on stock options & rsu																														103,905	93,910
cash flows from operating activities
bad debt expense																																-4,549	12,396	-18,122	-6,142
acquisiton of isp optics, net of cash acquired																																				0	0
net payments on loan payable																																-364,700	-3,795,337	-278,250	-278,249					0	-19,369	19,369	-51,585
sellers note issued to acquire isp optics, at fair value
stock-based compensation																																	93,188																																																	64,866	58,280	45,387	81,082	250,739	57,471	101,803	95,035	89,987	-68,806
the accompanying notes are an integral part of these unaudited consolidated financial statements.
change in fair value of seller’s note																																		42,515	28,990	34,479
deferred revenue																																																0	0			0	0	1,966	-37,750	-244,250
seller note issued to acquire isp optics, at fair value																																				0	-128,351
stock based compensation																																			92,241	75,693	108,181	91,061	119,940	87,120	87,027	101,178	73,410	73,434	73,441	74,812	63,263	63,277	65,892	157,818	69,828	71,109	68,912	67,472	60,814	69,242	64,826	73,430	64,546	84,489	57,760	53,513	50,387	49,908	45,598	31,639	33,271	50,026	53,789	33,954	18,498	134,713	92,901	128,878	58,746	79,393	86,061	74,301	56,994	79,124
deferred rent																																			-19,985	-22,653	-12,048	-22,316	-32,346	-7,630	-29,393	37,495	35,051	35,537	22,907	13,699	-55,968	-21,366	-42,774	-40,341	-39,245	-38,064	-38,858	-35,983	-12,605	-25,783	-32,894	-31,202	-28,657	-27,803	-28,774	-24,910	-23,537	-25,424	-27,579	-25,746	3,979	423,990	-2,325	-636	209
trade accounts receivables																																			737,036	-10,183	-82,098	-1,182,611	232,466	-516,869	-174,322	-113,703	154,141	-615,319	-20,404	-354,374	429,964	-16,715	-108,425	-335,880	123,915	114,437	161,643	-323,867	51,556	260,537	-562,670	228,064	-236,935	-226,603	65,723	110,787	36,797	172,643	-505,255	-484,276	-10,340	97,488	267,774	265,711	-251,020
cash flows from investing activities
cash flows from financing activities
inventory write-offs
settlement for class e shares
borrowings on capital lease obligations
proceeds from sale of common stock, net of costs of 181,052
proceeds from sale of common stock, net of costs																																												0																				954,598	0	-56,310	1,473,400
net borrowings (payments) on loan payable
vesting of restricted stock units																																																0	0
reclassification of tooling costs to inventory																																																60	0
purchase of equipment through capital lease arrangement																																																0	0	0	12,972
costs associated with conversion of debentures																																																												-1	0
repayments of debentures																																																				0
proceeds from loan payable
prepaid interest on convertible debentures through the issuance of common stock																																																				0	0	0	87,000
issuance of common stock through the conversion of 8% debentures
fair value of warrants issued to consultant
net cash provided by (used in) financing activities
change in provision for doubtful accounts receivable																																																			5,849	-6,983	13,602	-3,593	-623	3,023	-611			-1,330	-11,452	-6,194	3,291
warrants issued to consultant
costs associated with settlement of debentures
payments on capital lease obligation																																																				-900	-900	-901	-900									0	0	0	-5,050	-4,886	-4,725	-4,571	-4,421	-4,277	-4,136	-4,001	-3,871		-3,621	-3,503	-3,387		-3,170	-3,066	-2,966
increase in cash and cash equivalents																																																														-251,954	-117,101			-338,287	664,478		-143,441	-630,674	795,726		-1,093,653	-1,368,879	1,591,297	-590,666				25,392
decrease in cash and cash equivalents																																																					-374,040	-384,199	-192,358		-105,333	-98,360	-235,152																			-706,481	-622,847
issuance of common stock through the conversion of 8% convertible debentures
deferred costs associated with equity financing																																																										-51,527	-25,000
accrued deferred costs associated with equity financing																																																										111,931	32,139
the accompanying notes are an integral part of these consolidated statements.
change in fair value of warrant laibility																																																							-95,784
interest from amortization of debt discount																																																												103	46,746	60,178	209,666	96,949	98,107	84,401	90,928	81,996	80,379
gain on sale of property and equipment																																																												-12,729	-7,211	0	-540						2,463	-1,200	-6,507
change in value of warrant liability
exercise of warrants																																																												0	0	0	231,659
convertible debentures converted into common stock																																																												0	0	100,000	732,500	125,000	100,000	0	37,500
prepaid interest on convertible debentures through the issuance of																																																										0	87,000
common stock
premium from debt exchange for common stock
premium from debt exchange																																																												0
common stock issued for legal settlement																																																																0	0
common stock issued for payment of consulting services																																																																0	0			11,999	0
payments on note payable																																																																0	-27,640	-41,661	-83,457	134	-41,795	-41,661	-41,662	-41,661	-41,661	-41,661	-41,661	-41,661
costs associated with debenture conversions																																																															-6,098
fair value of warrants issued to induce debenture conversion																																																																				0	0
issuance of common stock for interest on convertible debentures																																																																				0	0
borrowings on 8% convertible debenture, net of issuance costs																																																																				-103,681	0
payments on secured note payable																																																																				0	0	0	-260,828
prepaid interest through the issuance of common stock
fair value of warrants issued to broker of debt financing																																																																				0	0	0	194,057
fair value of warrants and incentive shares issued to debenture holders
intrinsic value of beneficial conversion feature underlying convertible debentures																																																																				0	0	1	600,634
increase (decrease) in cash and cash equivalents
common stock payable																																																																			50,000
interest paid in common stock																																																																							39,053
gain (loss) on disposal of equipment
effect of exchange rate on cash and cash equivilents
convertible debentures exchanged into common stock																																																																				0	0
fair value of warrants & incentive shares issued to debenture holders																																																																				0	0	0	790,830
prepaid interest through the issuance of stock
foreign exchange translation adjustment																																																																					3,061	-11,410	11,792	13,247	9,771	20,614	20,796
amortization of debt costs																																																																					32,018
loss on abandonment of fixed assets
amortization of debt issuance costs and debt discount																																																																							96,323
issuance of common stock for interest expense																																																																							39,053
borrowings on 8% convertible debenture																																																																							2,929,000
issuance costs associated with convertible debentures																																																																							-256,570
gain on sale of fixed assets																																																																								10,067
trade receivables																																																																								54,322	-125,186	136,124	-7,195	553,963	165,024	-35,165	-144,781	351,287	-670,398	182,445	-387,946	410,926	169,494	-16,468	-84,564	-644,460	78,156	-133,327	68,400
deferred rent loss
accounts payable and accrued expenses																																																																								312,018	441,098	-71,916	-155,420		-77,949	-551,234	-117,266		-419,817	55,781	509,502		-656,168	-68,050	507,343		-383,940	202,753	-6,944
proceeds from sale of common stock from employee stock purchase																																																																								1	16,916	0	27,632
borrowings on line of credit																																																																													56,964	170,160	2,100	13,300
borrowings on secured note payable
interest paid																																																																								56,808	16,048	6,158	7,787		11,041	11,425	11,491	9,553
supplemental disclosure of non-cash investing activity:
proceeds from sale of assets																																																																																0	0	3,480	6,435	0	0	100,530	12,097	-8,406	6,450	116,843	21,933
proceeds from sale of common stock, net of expenses																																																																									0	-956	2,979,500
landlord payments for leasehold improvements																																																																									86,779
cash flows due to operating activities
cash flows due to investing activities
property and equipment additions																																																																											-119,470		-93,761	-282,915	-324,572	-63,941	-302,218	-132,311	-70,962	-82,382	39	-24,522	-26,760	-59,039	-123,459	-107,066	-68,769
cash flows due to financing activities
gain on sale of equipment																																																																																0			-5,654				-12,097	-6,197	-6,450	-109,183	527
provision for (recovery from) doubtful accounts receivable																																																																																0
accounts payable and accrued expenses including payroll
accrued severence and exit costs
property and equipment purchases
proceeds from sale of common stock/exercise of stock options
proceeds from private placement of common stock, net of expenses
borrowings on note payable
proceeds on capital lease obligations
cash paid for interest
proceeds from exercise of stock options/espp																																																																													36,701
supplemental disclosure of non-cash financing activities:
stock issued under employee stock purchase plan																																																																															17,261
write off abandoned patents
proceeds on capital lease obligation
supplimental disclosure of cash flow information:
non-cash financing activity:
issuance of warrant in connection with line of credit
capital lease obligation																																																																																					0
cash flows due to operating activities:
gains on sale of equipment
cash flows due to investing activities:
net cash (used) / provided in investing activities
cash flows due to financing activities:
net decrease in cash and cash equivalents																																																																																		-107,835	-729,420	984,803	-377,083	-249,278	-426,931	-417,265	996,144	-829,714	-585,786
cash and cash equivalents at beginning of period																																																																																		0	2,462,540		0	0	2,531,029		0	0	3,367,650
cash and cash equivalents at end of period																																																																																		-107,835	1,733,120		-377,083	-249,278	2,104,098		996,144	-829,714	2,781,864
credit from doubtful accounts receivable allowance																																																																																							-7,385
cumulative effect of accounting change
provision (recovery) for uncollectible accounts receivable
write-off abandoned patents
asset impairments
changes in operating assets and liabilities
prepaid expenses and other
accounts payable and accrued liabilities, including payroll
accrued severance and exit costs
costs incurred in acquiring patents and license agreements
proceeds on notes payable and capital leases
proceeds from issuance of common stock/exercise of stock options
cash and cash equivalents at beginning of year
cash and cash equivalents at end of year
non-cash investing and financing activities:
write-off note payable
gain on sale of assets
proceeds from issuance of common stock
non-cash financing activity -
warrant issued in connection of line of credit
non-cash financing activity - warrant issued in connection of line of credit
provision for uncollectible accounts receivable
accounts payable and accrued liablities, including payroll
accrued restructuring costs
proceeds from note receivable
investment in lightchip
payment on notes payable and capital leases
proceeds from issuance of common stock and exercise of stock options
note receivable in exchange of equipment
conversion of redeemable convertible preferred stock to class a common stock
preferred stock premium
asset impairment
patent and license agreement costs
proceeds from stock issuance
payments on capital leases
non-cash financing activity—
provision for (credit from) doubtful accounts receivable																																																																																											-77,112
non-cash financing activities – warrant issued in connection of line of credit																																																																																											315,364
acquired in-process research and development
acquisitions, net of cash acquired
proceeds from exercise of common stock options and warrants
class a common stock, warrant and stock options issued for acquisitions
note receivable in exchange for equipment
class e common stock – redeemed in 2001 and issued in 2000

LightPath Technologies, Inc(NASDAQ:LPTH)

LightPath Technologies, Inc
(NASDAQ:LPTH)