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DATATRAK International, Inc. (DTRK)

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Previous Close5.85
Open5.85
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Day's Range5.85 - 5.85
52 Week Range3.00 - 6.85
Volume100
Avg. Volume369
Market Cap11.707M
Beta (5Y Monthly)0.81
PE Ratio (TTM)150.00
EPS (TTM)0.04
Earnings DateNov 10, 2020
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateApr 26, 1995
1y Target Est8.00
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  • Datatrak International, Inc. Reports Results for Third Quarter and First Nine Months of 2020
    GlobeNewswire

    Datatrak International, Inc. Reports Results for Third Quarter and First Nine Months of 2020

    CLEVELAND, OH, Nov. 10, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire\-- Datatrak International, Inc. (OTC Markets: DTRK), a worldwide Software-as-a-Service (“SaaS”) provider and innovation leader of cloud-based technologies for the life sciences industry, today announced its operating results for the third quarter and the first nine months of 2020.  Financial Highlights:Revenue for the third quarter of 2020 was $1,752,000 compared to $2,028,000 for the third quarter of 2019. Despite the overall decrease in revenue, the Company has seen a significant increase in the number of new contracts and new customers during 2020 compared to the last three years. Direct costs decreased by $92,000 to $490,000 for the three months ended September 30, 2020 compared to $582,000 for the three months ended September 30, 2019 due to less amortization related to software development efforts that have been placed into production.  The Company’s gross margin increased to 72% for the three months ended September 30, 2020 compared to 71% for the three months ended September 30, 2019.  Selling, general and administrative (“SG&A”) expenses decreased by $75,000 to $1,288,000 for the three months ended September 30, 2020 compared to $1,363,000 for the three months ended September 30, 2019.  The decrease in SG&A expenses was driven by lower employee expenses, due to personnel changes and partially offset by higher recruiting costs.  Depreciation and amortization was $2,000 and $5,000 for the three months ended September 30, 2020 and 2019, respectively.  As a result of the items discussed, Datatrak had a loss from operations for the three months ended September 30, 2020 of ($28,000) compared to income from operations of $79,000 for the three months ended September 30, 2019.  After other income of $1,000 for the three months ended September 30, 2020 and $3,000 for the three months ended September 30, 2019, the Company’s net loss for the three months ended September 30, 2020 was ($27,000) compared to net income of $82,000 for the three months ended September 30, 2019.Revenue for the first nine months of 2020 was $5,448,000 compared to $5,834,000 for the first nine months of 2019.  Despite the overall decrease in revenue, the Company has seen a significant increase in the number of new contracts and new customers during 2020 compared to the last three years.  Direct costs decreased by $241,000 for the nine months ended September 30, 2020 compared to the nine months ended September 30, 2019 due to less amortization related to software development efforts that have been placed into production, which was partially offset by higher ISP costs.  The Company’s gross margin increased to 73% for the nine months ended September 30, 2020 compared to 71% for the nine months ended September 30, 2019.  SG&A expenses increased by $137,000 for the nine months ended September 30, 2020 compared to the nine months ended September 30, 2019.  The increase in SG&A expenses was driven by higher employee expenses, due to salary adjustments, commissions and employee recruitment, and consulting costs.  However, travel and advertising costs decreased for the nine months ended September 30, 2020 compared to the nine months ended September 30, 2019 due to the COVID-19 pandemic.  Depreciation and amortization was $9,000 and $14,000 for the nine months ended September 30, 2020 and 2019, respectively.  As a result of the items discussed, Datatrak had a loss from operations for the nine months ended September 30, 2020 of ($5,000) compared to income from operations of $272,000 for the nine months ended September 30, 2019. After other income of $3,000 for the nine months ended September 30, 2020 and $7,000 for the nine months ended September 30, 2019, the Company’s net loss for the nine months ended September 30, 2020 was ($2,000) compared to net income of $279,000 for the nine months ended September 30, 2019.Datatrak’s backlog at September 30, 2020 was $12 million compared to a backlog of $13.3 million at December 31, 2019.  Backlog consists of future value from authorization letters to commence services, statements of work, technology and services agreements, change orders and other customer contracts, billed and unbilled.All contracts are subject to possible delays or cancellation or can change in scope in a positive or negative direction. Therefore, current backlog is not necessarily indicative of the Company’s future quarterly or annual revenue. Historically, backlog has not always been an accurate predictor of the Company’s short-term revenue.The Company has been monitoring state and federal guidelines regarding the COVID-19 pandemic and will continue to modify business operations as needed to comply with these guidelines for the safety of its employees and customers.  As the COVID-19 pandemic is a continually evolving situation, the Company cannot provide any assurance that the effects of the COVID-19 pandemic will not have an adverse effect on its business or results of operations going forward.  In addition, the COVID-19 pandemic has caused a global economic recession, which could potentially materially impact the Company.Executive Highlights:“Datatrak is committed to carrying out our long-term vision of providing the life sciences industry with the next generation of SaaS platforms that bridge the eClinical service delivery gaps,” said Jim Bob Ward, CEO at Datatrak. “Our system supplies clients with a responsive and agile solution that minimizes workforce outages during today’s uncertain times brought on by the COVID-19 pandemic. With the depth of our products and the team-based collaboration functionality of the Datatrak Enterprise Cloud, our clients are benefiting from more effective ways to execute their trials within a challenging business environment.”     “We continue to see an increase in new customers and contract opportunities in 2020 compared to the past three years,” said Scott DeMell, VP of Sales at Datatrak. “Both new and existing customers are recognizing that we provide the ability to streamline data collection and management from multiple sources within our unified platform, providing studies with enhanced data for faster and more informed clinical decisions.”Join Datatrak thought leaders: *  Twitter *  LinkedIn * Datatrak ResourcesTweet: Datatrak Reports Results for Third Quarter and First Nine Months of 2020See the Earnings Release on Datatrak’s website: https://bit.ly/36mKF4TAboutDatatrakInternational, Inc.Datatrak International, Inc. is a software-as-a-service provider of enterprise cloud-based technologies for the life sciences industry.  Datatrak’s unified eClinical solutions and related services help improve cost and time efficiencies for the clinical trials industry. Datatrak built its multi-component, comprehensive solution on a single, unified platform and expanded this concept to include services delivery via Datatrak’s Clinical and Consulting Services group. The Company delivers a complete portfolio of software products designed to accelerate the reporting of clinical research data from sites to sponsors and ultimately regulatory authorities, faster and more efficiently than loosely integrated technologies. The Datatrak Enterprise Cloud software solution, deployed worldwide through an ASP or Enterprise Transfer offering, supports Preclinical and Phase I - Phase IV drug and device studies in multiple languages throughout the world. Datatrak is located in Cleveland, Ohio and College Station, Texas.  For more information, visit http://www.datatrak.com.Except for the historical information contained in this press release, the statements made in this release are forward-looking statements. These forward-looking statements are made based on management’s expectations, assumptions, estimates and current beliefs concerning the operations, future results and prospects of the Company and are subject to uncertainties and factors which are difficult to predict and, in many instances, are beyond the control of the Company, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. All statements that address operating performance, events or developments that management anticipates will occur in the future, including statements related to future revenue, profits, the impact of COVID-19, expenses, cost reductions, cash management alternatives and working capital requirements, release or success of new products, market share, strategic alternatives, raising additional funds, income and earnings per share or statements expressing general opinion about future results, are forward-looking statements.  For a list of certain factors that may cause actual results to differ materially from those contemplated in these forward looking statements, please see the Company’s report filed with the OTC Markets on March 24, 2020 announcing its results for the full-year period ended December 31, 2019 and subsequent filings with the OTC Markets. Many such factors have been, and may further be, exacerbated by the COVID-19 pandemic.  The Company undertakes no obligation to update publicly or revise any forward-looking statement whether as a result of new information, future events or otherwise.Contacts:  Sales: Scott DeMell                              Scott.DeMell@datatrak.com                Employment Opportunities: Laura Stuebbe Laura.Stuebbe@datatrak.comShareholders: Alex Tabatabai investor@datatrak.com Datatrak International, Inc. and Subsidiaries Condensed Consolidated Balance Sheet Data  (Unaudited and Not Reviewed) September 30, 2020December 31, 2019 Cash and cash equivalents$3,188,436$3,990,549 Marketable securities10,9076,998 Certificate of deposit125,079165,224 Accounts receivable, net741,159634,571 Operating right-of-use asset, net1,613,1471,845,460 Property & equipment, net1,561,6561,355,164 Other     682,618     375,506    Total assets$7,923,002$8,373,472     Accounts payable and other current liabilities$1,699,424$  902,183 Deferred revenue 2,764,8484,308,563 Other long-term liabilities2,148,7552,016,407 Shareholders’ equity  1,309,975  1,146,319    Total liabilities and shareholders’ equity$7,923,002$8,373,472     Datatrak International, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited and Not Reviewed)     For the 3 Months Ended September 30,                         2020                       2019 Revenue$1,752,099$2,028,216 Direct costs    490,349    581,957    Gross profit1,261,7501,446,259     Selling, general and administrative expenses1,287,8421,362,971 Depreciation and amortization       2,151       4,648    (Loss) income from operations(28,243)78,640     Interest income585,475 Interest expense          (3,054)         (1,371) Other income (expense)         4,515        (817)    Net (loss) income before tax provision$  (26,724)$    81,927 Tax provision             —            —    Net (loss) income $  (26,724)$    81,927      Net (loss) income per share:             Net (loss) income per share, basic $      (0.01)$        0.03           Weighted-average shares outstanding, basic 2,390,373 2,352,213           Net (loss) income per share, diluted $      (0.01) $        0.03             Weighted-average shares outstanding, diluted 2,390,373 2,374,113       Datatrak International, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited and Not Reviewed)     For the 9 Months Ended September 30,                         2020                       2019 Revenue$5,448,230$5,833,891 Direct costs  1,448,983  1,689,809    Gross profit3,999,2474,144,082     Selling, general and administrative expenses3,995,1563,858,010 Depreciation and amortization       9,038      14,372    (Loss) income from operations(4,947)271,700     Interest income5,00012,043 Interest expense          (5,908)         (2,940) Other income (expense)         3,999     (2,134)    Net (loss) income before tax provision$    (1,856)$  278,669 Tax provision             —            —    Net (loss) income $    (1,856)$  278,669      Net (loss) income per share:             Net (loss) income per share, basic $      (0.00)$        0.12           Weighted-average shares outstanding, basic 2,381,864 2,342,229           Net (loss) income per share, diluted $      (0.00) $        0.12            Weighted-average shares outstanding, diluted 2,381,864 2,372,946

  • GlobeNewswire

    Datatrak International, Inc. and RadMD Partner to Provide End to End Medical Imaging Solution

    CLEVELAND, OH, Sept. 29, 2020 (GLOBE NEWSWIRE) -- via NewMediaWire \--Datatrak International, Inc. (OTC Markets: DTRK), a worldwide Software-as-a-Service (“SaaS”) provider and innovation leader of cloud-based technologies for the life sciences industry, announces a new partnership with RadMD to leverage their professional services and enable their global network of radiologists with direct access to medical image assessments within a SaaS platform. The Datatrak Enterprise Cloud Platform significantly reduces the time and cost of image assessments in clinical trials by eliminating the need for integrating redundant systems. Adhering to FDA guidance for image upload and centralized assessment, the platform was built to provide fast results. The intrinsic efficiencies make it more cost and time effective, enabling sponsors to make “live” go or no go decisions especially in early stage clinical trials. Datatrak is the first to automate Endpoint Adjudication and Picture Archiving and Communications processes within EDC as the last mile toward FDA approval submission. “The ability to automate remote image capture, PHI anonymization, image evaluation and endpoint adjudication, and provide eCRF data entry for AI data analytics meets the growing demands for imaging in clinical trials,” said Scott DeMell, VP Sales at Datatrak.“Our partnership with RadMD provides a global network of radiologists, with subspecialty therapeutic expertise, to design imaging strategies, interpret image reads, and perform adjudication reviews,” said Jim Bob Ward, CEO at Datatrak. “Performing these actions within our platform provides our clients’ higher quality of data standards and quicker visibility into imaging results. Group that with our ability to centralize all trial data and provide client-driven analytics, we are providing unprecedented visibility to make more informed and swift decisions.” “We look forward to partnering with Datatrak to support clients on independent image reviews with their leading edge platform and technologies,” said Kohkan Shamsi, MD, PhD, Co-founder and Principal at RadMD.  “Datatrak has a long track record in providing high quality SaaS tools, and the addition of imaging to their offering is truly exciting.”To learn more about Datatrak Medical Imaging Capture visit: https://bit.ly/2S5UZYaAbout Datatrak International, Inc.:Datatrak International is a worldwide technology and services company delivering unified eClinical solutions and related services for the clinical trials industry. Datatrak built its multi-component, comprehensive solution on a single, unified platform. The Company delivers a complete portfolio of software products designed to accelerate the reporting of clinical research data from sites to sponsors and ultimately regulatory authorities, faster and more efficiently than loosely integrated technologies. The Datatrak software solution, deployed worldwide through an ASP or Enterprise Transfer offering, supports Pre-clinical, Phase I – Phase IV drug, device and diagnostic studies in multiple languages throughout the world.The Datatrak Enterprise Cloud includes the following products: Business Intelligence, CTMS, Trial Design, Electronic Data Capture (EDC), Medical Coding, Risk-Based Monitoring, ECG Data Capture, Image Data Capture, Endpoint Adjudication, Randomization, Clinical Supply Inventory, eConsent, ePRO, and eCOA.About RadMD: RadMD is an expertise based image management service organization that provides consulting, training, and independent imaging services to pharmaceutical, biotechnology, and medical device companies. RadMD has designed and created imaging endpoints and performed image reviews and analysis for >600 studies by largest pool of independent readers. RadMD has also and trained >1,000 sites to optimize image assessment.Jordan Regula 440-443-0082 x110 jordan.regula@datatrak.com

  • GlobeNewswire

    Datatrak International, Inc. Reports Results for Second Quarter and First Half of 2020

    CLEVELAND, Aug. 05, 2020 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- Datatrak International, Inc. (OTC Markets: DTRK), a worldwide Software-as-a-Service (“SaaS”) provider and innovation leader of cloud-based technologies for the life sciences industry, today announced its operating results for the second quarter and the first half of 2020. Financial Highlights:Revenue for the second quarter of 2020 was $1,745,000 compared to $1,884,000 for the second quarter of 2019.  Despite the overall decrease in revenue, the Company has seen a rise in the number of new contracts and new customers during the second quarter of 2020 compared to the second quarter of 2019.  Direct costs decreased by $104,000 for the three months ended June 30, 2020 compared to the three months ended June 30, 2019 due to less amortization related to software development efforts that have been placed into production.  There was also a decrease in employee costs due to a higher percentage of direct employee costs being included in capitalized software development efforts for the three months ended June 30, 2020 compared to the three months ended June 30, 2019.  The Company’s gross margin was 73% for the three months ended June 30, 2020 compared to 70% for the three months ended June 30, 2019.  Selling, general and administrative (“SG&A”) expenses increased by $34,000 for the three months ended June 30, 2020 compared to the three months ended June 30, 2019.  The increase in SG&A expenses was driven by higher employee expenses, due to lower software capitalization and salary adjustments, and consulting costs.  However, travel and advertising costs decreased for the three months ended June 30, 2020 compared to the three months ended June 30, 2019.  Depreciation and amortization was $3,000 and $5,000 for the three months ended June 30, 2020 and 2019, respectively.  As a result of the items discussed, Datatrak had a loss from operations for the three months ended June 30, 2020 of ($39,000) compared to income from operations of $28,000 for the three months ended June 30, 2019.  After other expenses of ($2,000) for the three months ended June 30, 2020 and other income of $2,000 for the three months ended June 30, 2019, the Company’s net loss for the three months ended June 30, 2020 was ($41,000) compared to net income of $30,000 for the three months ended June 30, 2019.Revenue for the first half of 2020 was $3,696,000 compared to $3,806,000 for the first half of 2019.  Despite the overall decrease in revenue, the Company has seen a rise in the number of new contracts and new customers during the first half of 2020 compared to the first half of 2019.  Direct costs decreased by $149,000 for the six months ended June 30, 2020 compared to the six months ended June 30, 2019 due to less amortization related to software development efforts that have been placed into production, which was partially offset by higher ISP costs.  The Company’s gross margin was 74% for the six months ended June 30, 2020 compared to 71% for the six months ended June 30, 2019.  SG&A expenses increased by $212,000 for the six months ended June 30, 2020 compared to the six months ended June 30, 2019.  The increase in SG&A expenses was driven by higher employee expenses, due to salary adjustments and lower software capitalization, and consulting costs.   However, travel, advertising and legal costs decreased for the six months ended June 30, 2020 compared to the six months ended June 30, 2019.  Depreciation and amortization was $7,000 and $10,000 for the six months ended June 30, 2020 and 2019, respectively.  As a result of the items discussed, Datatrak had income from operations for the six months ended June 30, 2020 of $23,000 compared to $193,000 for the six months ended June 30, 2019.  After other income of $2,000 for the six months ended June 30, 2020 and $4,000 for the six months ended June 30, 2019, the Company’s net income for the six months ended June 30, 2020 was $25,000 compared to $197,000 for the six months ended June 30, 2019.Datatrak’s backlog at June 30, 2020 was $11.8 million compared to a backlog of $13.3 million at December 31, 2019.  Backlog consists of future value from authorization letters to commence services, statements of work, technology and services agreements, change orders and other customer contracts, billed and unbilled.All contracts are subject to possible delays or cancellation or can change in scope in a positive or negative direction. Therefore, current backlog is not necessarily indicative of the Company’s future quarterly or annual revenue. Historically, backlog has not always been an accurate predictor of the Company’s short-term revenue.While the Company has seen a delay in the signing of some new contracts due to the COVID-19 pandemic, it has not laid off and does not currently have plans to lay off any employees.  Datatrak’s employees were all able to work remotely during quarantine, and the Company has continued to deliver services according to the terms of its contracts.  Datatrak re-opened its offices as of May 4, 2020 to correspond with the state of Ohio’s plan for general office environments.  Employees who are comfortable and would like to work out of the offices have been able to do so as long as they follow social distancing requirements and wear masks.  Office cleaning takes place daily.  The Company has been monitoring state and federal guidelines regarding the COVID-19 pandemic and will modify business operations as needed to comply with these guidelines for the safety of its employees and customers.  As the COVID-19 pandemic is a continually evolving situation, the Company cannot provide any assurance that the effects of the COVID-19 pandemic will not have an adverse effect on its business or results of operations going forward.  In addition, the COVID-19 pandemic has caused a global economic recession, which could potentially materially impact the Company.Executive Highlights:“Datatrak’s Enterprise Cloud was built to ensure stability, maintain focus and drive progress in times like we are currently experiencing due to the COVID-19 pandemic,” said Jim Bob Ward, CEO at Datatrak. “We believe our unified platform allows us to innovate and bridge service delivery gaps in ways that are impossible for our competitors to address with their integrated solutions. Providing streamlined collection and management of site, lab and direct patient data with business analytics to support new protocol development that allow our customers to push the boundaries of their product development efforts has never been more important than it is right now.”  “Given that we are working through the worst socioeconomic disaster in recent history, we are very encouraged by the increased number of top-tier opportunities presented and the significant increase in new clients signed to date over the last three cumulative years,” said Scott DeMell, VP Sales at Datatrak. “From large to small, our current and future customers are reviewing and contributing to our innovations with enthusiasm for the future.”Join Datatrak thought leaders: * Twitter * LinkedIn * Datatrak ResourcesTweet: Datatrak Reports Results for Second Quarter and First Half of 2020See the Earnings Release on Datatrak’s website: https://bit.ly/3kbhoQRAbout Datatrak International, Inc.Datatrak International, Inc. is a software-as-a-service provider of enterprise cloud-based technologies for the life sciences industry.  Datatrak’s unified eClinical solutions and related services help improve cost and time efficiencies for the clinical trials industry. Datatrak built its multi-component, comprehensive solution on a single, unified platform and expanded this concept to include services delivery via Datatrak’s Clinical and Consulting Services group. The Company delivers a complete portfolio of software products designed to accelerate the reporting of clinical research data from sites to sponsors and ultimately regulatory authorities, faster and more efficiently than loosely integrated technologies. The Datatrak Enterprise Cloud software solution, deployed worldwide through an ASP or Enterprise Transfer offering, supports Preclinical and Phase I - Phase IV drug and device studies in multiple languages throughout the world. Datatrak is located in Cleveland, Ohio and College Station, Texas.  For more information, visit http://www.datatrak.com.Except for the historical information contained in this press release, the statements made in this release are forward-looking statements. These forward-looking statements are made based on management’s expectations, assumptions, estimates and current beliefs concerning the operations, future results and prospects of the Company and are subject to uncertainties and factors which are difficult to predict and, in many instances, are beyond the control of the Company, and which could cause actual results to differ materially from those contemplated in these forward-looking statements. All statements that address operating performance, events or developments that management anticipates will occur in the future, including statements related to future revenue, profits, the impact of COVID-19, expenses, cost reductions, cash management alternatives and working capital requirements, release or success of new products, market share, strategic alternatives, raising additional funds, income and earnings per share or statements expressing general opinion about future results, are forward-looking statements.  For a list of certain factors that may cause actual results to differ materially from those contemplated in these forward looking statements, please see the Company’s report filed with the OTC Markets on March 24, 2020 announcing its results for the full-year period ended December 31, 2019 and subsequent filings with the OTC Markets. Many such factors have been, and may further be, exacerbated by the COVID-19 pandemic.  The Company undertakes no obligation to update publicly or revise any forward-looking statement whether as a result of new information, future events or otherwise.Contacts: Sales: Scott DeMell                            Scott.DeMell@datatrak.com              Employment Opportunities: Laura Stuebbe Laura.Stuebbe@datatrak.comShareholders: Alex Tabatabai investor@datatrak.com  Datatrak International, Inc. and Subsidiaries Condensed Consolidated Balance Sheet Data (Unaudited and Not Reviewed)  June 30, 2020 December 31, 2019 Cash and cash equivalents $3,649,022 $3,990,549 Marketable securities 6,422 6,998 Certificate of deposit 125,021 165,224 Accounts receivable, net 757,969 634,571 Operating right-of-use asset, net 1,692,425 1,845,460 Property & equipment, net 1,459,393 1,355,164 Other   631,701   375,506   Total assets $8,321,953 $8,373,472       Accounts payable and other current liabilities $1,661,482 $  902,183 Deferred revenue 3,115,622 4,308,563 Other long-term liabilities 2,248,334 2,016,407 Shareholders’ equity   1,296,515   1,146,319   Total liabilities and shareholders’ equity $8,321,953 $8,373,472       Datatrak International, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited and Not Reviewed)     For the 3 Months Ended June 30,     2020   2019 Revenue $1,745,465 $1,883,567 Direct costs   467,428   570,543   Gross profit 1,278,037 1,313,024       Selling, general and administrative expenses 1,313,622 1,279,818 Depreciation and amortization    2,872    4,819   (Loss) income from operations (38,457) 28,387       Interest income 121 3,819 Interest expense   (2,508)   (1,220) Other income (expense)    172    (645)   Net (loss) income before tax provision $  (40,672) $   30,341 Tax provision    —    —   Net (loss) income $  (40,672) $  30,341      Net (loss) income per share:            Net (loss) income per share, basic $   (0.02) $   0.01        Weighted-average shares outstanding, basic  2,382,849  2,343,924        Net (loss) income per share, diluted $   (0.02)  $  0.01         Weighted-average shares outstanding, diluted  2,382,849  2,374,456 Datatrak International, Inc. and Subsidiaries Condensed Consolidated Statements of Operations (Unaudited and Not Reviewed) For the 6 Months Ended June 30,    2020  2019 Revenue$3,696,131$3,805,675 Direct costs  958,634  1,107,851   Gross profit2,737,4972,697,824     Selling, general and administrative expenses2,707,3142,495,039 Depreciation and amortization  6,887  9,725   Income from operations23,296193,060     Interest income4,9426,568 Interest expense   (2,854)  (1,569) Other income (expense)    (516)   (1,317)   Net income before tax provision$  24,868$  196,742 Tax provision   —   —   Net income $  24,868$  196,742     Net income per share:         Net income per share, basic $  0.01$  0.08       Weighted-average shares outstanding, basic 2,377,563 2,337,154       Net income per share, diluted $  0.01  $  0.08        Weighted-average shares outstanding, diluted 2,403,224 2,368,200