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--12-31
0001467761
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2026-08-13
2026-08-13
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 13, 2026
FiEE, Inc.
(Exact name of registrant as specified in its charter)
| Delaware |
|
001-37649 |
|
04-2621506 |
|
(State or other jurisdiction
of incorporation) |
|
(Commission
File Number) |
|
(IRS Employer
Identification No.) |
3-33, 2-chome Utajima, Nishiyodogawa District, Osaka, Japan 00000
(Address of principal executive offices, including zip code)
00000
852-28166813
(Registrant’s telephone number, including area code)
Flat A1, 29/F, Block A, TML Tower, 3 Hoi Shing Road, Tsuen Wan, N.T., Hong Kong
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ☐ |
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17-CFR 240.14d-2(b)) |
| ☐ |
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17-CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class |
|
Trading Symbol |
|
Name of each exchange on which registered |
| Common Stock, $0.01 par value |
|
FIEE |
|
The Nasdaq Capital Market |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
|
Item 2.02 |
Results of Operations and Financial Condition. |
On August 14, 2026, FiEE, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended June 30, 2026. A copy of the Company’s press release is furnished as Exhibit 99.1.
The information furnished under Item 2.02 of this Current Report on Form 8-K (this “Report”) is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
|
Item 5.02 |
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
Termination of Director Agreements
On August 13, 2026, the board of directors (the “Board”) of the Company approved, and the Company entered into, a Termination Agreement (each, a “Termination Agreement” and collectively, the “Termination Agreements”) with each of the Company’s directors, Cao Yu, Chan Oi Fat, Hu Bin, David Natan and Hongya Wen (each, a “Director” and collectively, the “Directors”), pursuant to which each Director’s respective director agreement with the Company was terminated in its entirety, effective as of August 13, 2026. Each Director will continue to serve as a member of the Board following such termination, and the termination does not reflect any disagreement between the Company and any Director on any matter relating to the Company’s operations, policies or practices.
The foregoing description of the Termination Agreements does not purport to be complete and is qualified in its entirety by reference to the form of Termination Agreement, which is filed as Exhibit 10.1 to this Report and incorporated herein by reference.
Indemnification Agreements
On August 13, 2026, the Board approved a new form of indemnification agreement (the “Indemnification Agreement”) to be entered into by the Company with each of the Directors and executive officers. In connection therewith, the Company entered into an Indemnification Agreement with each of the Directors and with Li Wai Chung, the Company’s Chief Executive Officer and President. Each Indemnification Agreement requires the Company, among other things, to indemnify these Directors and Company executive officers against certain liabilities that may arise by reason of their status or service as Directors or executive officers of the Company, and to advance certain expenses incurred as a result of any proceeding as to which they are indemnified.
The foregoing description of the Indemnification Agreements does not purport to be complete and is qualified in its entirety by reference to the form of Indemnification Agreement, which is filed as Exhibit 10.2 to this Report and incorporated herein by reference.
|
Item 5.03 |
Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. |
On August 13, 2026, the Board approved and adopted the Third Amended and Restated Bylaws of the Company (the “Amended and Restated Bylaws”), which became effective immediately upon adoption. The Amended and Restated Bylaws amend and restate the Company’s prior bylaws in their entirety. The material changes include, among other things:
|
● |
permits directors and officers to be removed with or without cause by the applicable vote, removing the prior requirement of notice and an opportunity to be heard before removal for cause; |
|
● |
removes the requirement that a regular Board meeting be held without notice immediately following the annual meeting of stockholders or a special meeting in lieu thereof; |
|
● |
adds the chief executive officer as an enumerated officer and deletes the chairman of the Board as an enumerated officer; |
|
● |
removes the provision allowing directors to require an officer to give a bond for faithful performance of duties, with premiums payable by the Company; |
|
● |
permits shares of the Company’s capital stock to be issued in uncertificated, book-entry form, in addition to certificated shares; and |
|
● |
expands the Company’s exclusive forum provision. |
The foregoing description of the Amended and Restated Bylaws does not purport to be complete and is qualified in its entirety by reference to the full text of the Amended and Restated Bylaws, which is filed as Exhibit 3.1 to this Report and incorporated herein by reference.
| Item 9.01 |
Financial Statements and Exhibits. |
(d) Exhibits
| Exhibit |
|
Description |
| 3.1 |
|
Third Amended and Restated Bylaws of FiEE, Inc. |
| 10.1 |
|
Form of Termination Agreement. |
| 10.2 |
|
Form of Indemnification Agreement. |
| 99.1 |
|
Press release of FiEE, Inc., dated August 14, 2026. |
| 104 |
|
Cover Page Interactive Data File (embedded within the Inline XBRL document). |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| |
FIEE, INC. |
| |
|
|
| Date: August 14, 2026 |
By: |
/s/ Li Wai Chung |
| |
|
Li Wai Chung |
| |
|
Chief Executive Officer and President |
Exhibit 99.1
FiEE,
Inc. Announces Second Quarter and First Half 2026 Unaudited Financial Results
Strong Growth Across Segments Boosted First Half 2026 Revenue to $6.9 million
Profit Turnaround Achieved as First Half Net Income Reached $2.5 million
Osaka, Japan – August 14, 2026 – FiEE, Inc. (NASDAQ:FIEE) (“FiEE,” the “Company,” “we,” “our,” or similar terms), a technology company integrating IoT, connectivity, and AI to redefine brand management solutions in the digital era, today announced its unaudited financial results for the three and six months ended June 30, 2026, marking a profitable half-year following its strategic transformation.
Operational and Financial Highlights for the Six Months Ended June 30, 2026
| |
● |
Revenue soared 15,298.1% year-on-year to approximately $6.9 million, compared to $0.05 million in the first half of 2025. The increase in revenue primarily reflects the Company’s strategic transition from legacy hardware operations to SaaS solutions, with a new business model focusing on integrating AI and big data into content creation and brand management, and the successful expansion into multiple new business lines, including SaaS – MCN digital services, software services, digital authentication services, and other services, most of which experienced rapid growth following their launch. |
| |
○ |
As of June 30, 2026, the Company onboarded over 900 customers for its SaaS – MCN digital services, representing total service fees of $9.2 million, of which $7.9 million has been recognized as revenue cumulatively. Specifically, in the first half of 2026, FiEE added 138 new customers and recognized $2.6 million in revenue from this business. |
| |
○ |
As of June 30, 2026, we secured contracts totaling $2.9 million for our software services, $1.7 million of which was recognized as revenue in the six months ended June 30, 2026. During the first half of 2026, FiEE added 18 new software services customers, bringing the total number of customers for these services to 31. |
| |
○ |
As of June 30, 2026, the digital authentication services business line generated cumulative revenue of $2.9 million, including $2.6 million recognized in the six months ended June 30, 2026, serving five corporate clients and 459 individual clients in total, with related accounts receivable amounting to $2.0 million. |
| |
● |
Gross profit was $5.4 million, compared to a gross profit of $438 in the same period of 2025. Gross margin increased significantly to 77.3% in the first half of 2026, up from 1.0% in the same period of 2025. The improvement was primarily driven by our MCN digital services, which leverage AI and data analytics to reduce reliance on manual labor, resulting in higher margins compared to traditional service models. |
| |
● |
Net income was approximately $2.5 million, achieving a turnaround from a net loss of $1.0 million in same period of 2025. |
| |
● |
The Company acquired Yinlian Culture and its VIE Maltose Culture in May 2026. Through this acquisition, the Company has further expanded into the AI music business, combining music content creation and distribution with AI capabilities to build an advanced AI music ecosystem. |
Operational and Financial Highlights for the Three Months Ended June 30, 2026
| |
● |
Revenue was approximately $4.8 million, compared to $0.04 million for the three months ended June 30, 2025. |
| |
● |
Gross profit was approximately $3.9 million, compared to $1,063 for the three months ended June 30, 2025. |
| |
● |
Net income was approximately $2.1 million, turning around the net loss of $0.6 million for the three months ended June 30, 2025. |
Rafael Li, Chief Executive Officer and President of FiEE, commented, “We delivered strong profitability in the first half of 2026, a remarkable turnaround from last year’s net loss. Our multi-line service lineup and acquisition integration drove notable gross margin expansion, validating our strategic transformation roadmap. We’re also proud to have expanded into AI music and home entertainment, our two key growth engines going forward, after completing the first-stage closing of our Yinlian Culture acquisition in the first half of 2026.”
Mr. Li further mentioned, “Backed by our music patent portfolio and operations team, we expect to accelerate AI music commercialization to capture streaming revenue and creator royalties. Our home entertainment system, launched in June 2026, is expected to deliver steady revenue contributions through year-end. We remain committed to optimizing our service mix, investing in client development and technical innovation, and building long-term stockholder value.”
Financial Results for the Six Months Ended June 30, 2026
Revenue was approximately $6.9 million, compared to $0.05 million in the same period of 2025.
| |
|
Six Months Ended
June 30, |
|
|
% |
|
| |
|
2026 |
|
|
2025 |
|
|
change |
|
| Revenues |
|
$ |
|
|
$ |
|
|
YoY |
|
| Services |
|
|
|
|
|
|
|
|
|
|
|
|
| |
● |
SaaS – MCN digital services |
|
|
2,628,291 |
|
|
|
45,118 |
|
|
|
5,725.4 |
% |
| |
● |
Software services |
|
|
1,698,099 |
|
|
|
- |
|
|
|
N/A |
|
| |
● |
Digital authentication services |
|
|
2,609,650 |
|
|
|
- |
|
|
|
N/A |
|
| |
● |
Others |
|
|
11,289 |
|
|
|
- |
|
|
|
N/A |
|
| Total |
|
$ |
6,947,329 |
|
|
$ |
45,118 |
|
|
|
15,298.1 |
% |
Gross profit was approximately $5.4 million, compared to $438 in the same period of 2025.
Gross margin was 77.3%, compared to 1.0% in the same period of 2025.
Operating expenses were approximately $2.3 million, representing an increase of 127.8% from $1.0 million in the same period of 2025.
| |
● |
Selling and marketing expenses were approximately $0.3 million, as compared to $0.02 million in the same period of 2025, which was primarily due to the Company’s business transformation and stock-based compensation expenses in connection with equity awards granted in May 2026 under our 2025 Equity Incentive Plan. The expense incurred in the first half of 2026 primarily reflected costs related to the expansion of our four core business lines– SaaS – MCN digital services, software services, digital authentication services, and other services – as well as corporate branding initiatives. |
| |
● |
General and administrative expenses were approximately $1.9 million, compared to $0.9 million in the same period of 2025. The increase was primarily attributable to certain non-recurring professional service fees incurred during the six months ended June 30, 2026, including legal and advisory fees related to strategic initiatives and stock-based compensation expenses in connection with equity awards granted in May 2026 under our 2025 Equity Incentive Plan. |
| |
● |
Research and development expenses were approximately $80 thousand, as compared to $50 thousand in the first half of 2025. The increase primarily reflects ongoing enhancements and optimizations to our system during the six months ended June 30, 2026. |
Operating income was approximately $3.1 million, marking a complete turnaround from a loss of $1.0 million recorded in the first half of 2025.
Net income was approximately $2.5 million, a turnaround from the $1.0 million loss recorded in the first half of 2025.
Diluted earnings per common share was $0.17, as compared to a loss of $0.20 in the first half of 2025.
About FiEE, Inc.
FiEE, Inc. (NASDAQ:FIEE), formerly Minim, Inc., was founded in 1977. The Company has a historical track record of delivering comprehensive WiFi/Software as a Service platform in the market. After years of development, FiEE made the strategic decision to transition to a Software First Model in 2024 to expand its technology portfolio and revenue streams. In 2025, FiEE rebranded itself as a technology company leveraging its expertise in IoT, connectivity, and AI to explore new business prospects and extend its global footprint.
FiEE’s services are structured into four key categories: Cloud-Managed Connectivity (WiFi) Platform, IoT Hardware Sales & Licensing, SaaS Solutions, and Professional To-C and To-B Services & Support. Notably, FiEE has introduced its innovative Software as a Service solutions, which integrates its AI and data analytics capabilities into content creation and brand management. This initiative has led to the nurturing of a robust pool of KOLs on major social media platforms worldwide, assisting them in developing, managing, and optimizing their digital presence across global platforms. FiEE’s services include customized graphics and posts, short videos, and editorial calendars tailored to align with brand objectives.
Forward-Looking Statements
In addition to historical information, this press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995. Forward-looking statements, written, oral, or otherwise made, represent the Company’s expectation or belief concerning future events. Without limiting the foregoing, the words “believes,” “expects,” “may,” “might,” “will,” “should,” “seeks,” “intends,” “plans,” “strives,” “goal,” “estimates,” “forecasts,” “projects” or “anticipates” or the negative of these terms and similar expressions are intended to identify forward-looking statements. Forward-looking statements included in this press release may include, among others, statements relating to (i) the future financial position and results of operations of the Company, (ii) our ability to successfully implement our strategic business transformation, (iii) our commitment to investing in R&D and our ability to execute on our AI music and home entertainment initiatives, including our expectations regarding streaming revenue, creator royalties, and contributions from our home entertainment system, (iv) our long-term growth objectives and opportunities, (v) our commitment to investing in R&D to expand our service offerings, enhance customer experience, and deliver greater brand value across the digital content landscape, (vi) our plans to drive growth through innovation, build bridges between influencers, content creators, and global markets, and foster impactful partnerships to extend our reach across the digital landscape, and (vii) our plans to further accelerate business growth and create value for our stockholders.
By nature, forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or implied by the forward-looking statement. In addition, there may be other factors of which we are presently unaware or that we currently deem immaterial that could cause our actual results to be materially different from the results referenced in the forward-looking statements. All forward-looking statements contained in this press release are qualified in their entirety by this cautionary statement. Although we believe that our plans, intentions and expectations are reasonable, we may not achieve our plans, intentions or expectations. Forward-looking statements are based on current expectations and assumptions and currently available data and are neither predictions nor guarantees of future events or performance. You should not place undue reliance on forward-looking statements, which speak only as of the date hereof. See “Risk Factors” and “Special Note Regarding Forward-Looking Statements” included in the Company’s filings with the U.S. Securities and Exchange Commission (the “SEC”), including the Company’s most recent annual report on Form 10-K and other risk factors described from time to time in subsequent quarterly reports on Form 10-Q, or other subsequent filings with the SEC. The Company undertakes no obligation to publicly update or revise any forward-looking statement as a result of new information, future events or otherwise, except as otherwise required by law.
For investor and media inquiries, please contact:
Email: fiee@dlkadvisory.com
FIEE, INC. AND SUBSIDIARIES
Condensed Consolidated Balance Sheets
(Unaudited)
| |
|
June 30,
2026 |
|
|
December 31,
2025 |
|
| ASSETS |
|
|
|
|
|
|
|
|
| Current assets |
|
|
|
|
|
|
|
|
| Cash |
|
$ |
5,435,709 |
|
|
$ |
3,084,461 |
|
| Accounts receivable |
|
|
5,134,459 |
|
|
|
2,110,715 |
|
| Other receivables, net |
|
|
- |
|
|
|
1,217,692 |
|
| Prepaid expenses and other current assets |
|
|
373,949 |
|
|
|
199,309 |
|
| Total current assets |
|
|
10,944,117 |
|
|
|
6,612,177 |
|
| |
|
|
|
|
|
|
|
|
| Property, equipment and software, net |
|
|
860,482 |
|
|
|
366,439 |
|
| Intangible assets |
|
|
2,888,743 |
|
|
|
3,529,835 |
|
| Operating lease right-of-use assets, net |
|
|
- |
|
|
|
31,004 |
|
| Goodwill |
|
|
24,990 |
|
|
|
- |
|
| Deferred tax assets |
|
|
26,371 |
|
|
|
- |
|
| Other assets |
|
|
341,814 |
|
|
|
231,680 |
|
| Total assets |
|
$ |
15,086,517 |
|
|
$ |
10,771,135 |
|
| |
|
|
|
|
|
|
|
|
| LIABILITIES AND STOCKHOLDERS’ EQUITY |
|
|
|
|
|
|
|
|
| Current liabilities |
|
|
|
|
|
|
|
|
| Accounts payable |
|
$ |
821,899 |
|
|
$ |
511,206 |
|
| Contract liabilities |
|
|
343,015 |
|
|
|
1,497,721 |
|
| Accrued expenses and other current liabilities |
|
|
1,307,982 |
|
|
|
1,169,737 |
|
| Income tax payable |
|
|
1,382,613 |
|
|
|
972,743 |
|
| Current maturities of operating lease liabilities |
|
|
- |
|
|
|
30,350 |
|
| Total current liabilities |
|
|
3,855,509 |
|
|
|
4,181,757 |
|
| Total liabilities |
|
|
3,855,509 |
|
|
|
4,181,757 |
|
| |
|
|
|
|
|
|
|
|
| Commitments and Contingencies |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Stockholders’ equity |
|
|
|
|
|
|
|
|
| Preferred Stock |
|
|
1,639,779 |
|
|
|
1,639,779 |
|
| Common Stock |
|
|
85,286 |
|
|
|
79,341 |
|
| Additional paid-in capital |
|
|
102,750,237 |
|
|
|
100,500,280 |
|
| Accumulated deficit |
|
|
(93,158,867 |
) |
|
|
(95,621,579 |
) |
| Accumulated other comprehensive loss |
|
|
(40,429 |
) |
|
|
(8,443 |
) |
| Total stockholders’ equity attributable to parent |
|
|
11,276,006 |
|
|
|
6,589,378 |
|
| Non-controlling interests |
|
|
(44,998 |
) |
|
|
- |
|
| Total stockholders’ equity |
|
|
11,231,008 |
|
|
|
6,589,378 |
|
| Total liabilities and stockholders’ equity |
|
$ |
15,086,517 |
|
|
$ |
10,771,135 |
|
FIEE, INC. AND SUBSIDIARIES
Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
(Unaudited)
| |
|
Three Months Ended
June 30, |
|
|
Six Months Ended
June 30, |
|
| |
|
2026 |
|
|
2025 |
|
|
2026 |
|
|
2025 |
|
| Revenues |
|
$ |
4,825,340 |
|
|
$ |
44,993 |
|
|
$ |
6,947,329 |
|
|
$ |
45,118 |
|
| Cost of revenues |
|
|
951,806 |
|
|
|
43,930 |
|
|
|
1,579,551 |
|
|
|
44,680 |
|
| Gross profit |
|
|
3,873,534 |
|
|
|
1,063 |
|
|
|
5,367,778 |
|
|
|
438 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating expenses: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling and marketing |
|
|
252,314 |
|
|
|
16,811 |
|
|
|
286,653 |
|
|
|
16,811 |
|
| General and administrative |
|
|
938,162 |
|
|
|
603,744 |
|
|
|
1,935,035 |
|
|
|
944,240 |
|
| Research and development |
|
|
39,226 |
|
|
|
17,419 |
|
|
|
75,813 |
|
|
|
47,419 |
|
| Total operating expenses |
|
|
1,229,702 |
|
|
|
637,974 |
|
|
|
2,297,501 |
|
|
|
1,008,470 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Operating income (loss) |
|
|
2,643,832 |
|
|
|
(636,911 |
) |
|
|
3,070,277 |
|
|
|
(1,008,032 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other income (expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Interest income (expense), net |
|
|
97 |
|
|
|
(2,638 |
) |
|
|
97 |
|
|
|
(5,427 |
) |
| Foreign currency exchange income (loss) |
|
|
(6,443 |
) |
|
|
(131 |
) |
|
|
28,552 |
|
|
|
(131 |
) |
| Other, net |
|
|
125 |
|
|
|
- |
|
|
|
27,030 |
|
|
|
- |
|
| Total other income (expense) |
|
|
(6,221 |
) |
|
|
(2,769 |
) |
|
|
55,679 |
|
|
|
(5,558 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) before income taxes |
|
|
2,637,611 |
|
|
|
(639,680 |
) |
|
|
3,125,956 |
|
|
|
(1,013,590 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income tax expense |
|
|
526,897 |
|
|
|
- |
|
|
|
663,726 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) |
|
$ |
2,110,714 |
|
|
$ |
(639,680 |
) |
|
$ |
2,462,230 |
|
|
$ |
(1,013,590 |
) |
| Attributable to non-controlling interests |
|
|
(482 |
) |
|
|
- |
|
|
|
(482 |
) |
|
|
- |
|
| Attributable to owners of parent |
|
$ |
2,111,196 |
|
|
$ |
(639,680 |
) |
|
$ |
2,462,712 |
|
|
$ |
(1,013,590 |
) |
| Allocation to participating preferred stock |
|
|
(583,312 |
) |
|
|
- |
|
|
|
(695,696 |
) |
|
|
- |
|
| Net income (loss) attributable to common stockholders |
|
$ |
1,527,884 |
|
|
$ |
(639,680 |
) |
|
$ |
1,767,016 |
|
|
$ |
(1,013,590 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic earnings (loss) per common share |
|
$ |
0.18 |
|
|
$ |
(0.13 |
) |
|
$ |
0.22 |
|
|
$ |
(0.20 |
) |
| Diluted earnings (loss) per common share |
|
$ |
0.14 |
|
|
$ |
(0.13 |
) |
|
$ |
0.17 |
|
|
$ |
(0.20 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Weighted-average number of common shares outstanding: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Basic |
|
|
8,453,873 |
|
|
|
5,090,949 |
|
|
|
8,197,613 |
|
|
|
5,090,949 |
|
| Diluted |
|
|
10,786,717 |
|
|
|
5,090,949 |
|
|
|
10,518,841 |
|
|
|
5,090,949 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net income (loss) |
|
$ |
2,110,714 |
|
|
$ |
(639,680 |
) |
|
$ |
2,462,230 |
|
|
$ |
(1,013,590 |
) |
| Other comprehensive income (loss), net of tax: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Foreign currency translation adjustment |
|
|
4,316 |
|
|
|
1,962 |
|
|
|
(31,986 |
) |
|
|
1,962 |
|
| Total comprehensive income (loss) |
|
$ |
2,115,030 |
|
|
$ |
(637,718 |
) |
|
$ |
2,430,244 |
|
|
$ |
(1,011,628 |
) |
