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Consolidated Statements of Cash Flows - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Cash flows from operating activities:    
Net income $ 8,523,849 $ 9,971,260
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation 127,263 66,939
Amortization 1,611,566 826,474
Bad debt allowance 257,177 109,393
Inventory excess and obsolescence allowance 747,507 331,985
Stock-based compensation expense 6,340,000 4,831,750
Gain on China transaction (322,936) (12,461,037)
Gain on lease cancellations (152,112)
Changes in operating assets and liabilities:    
Accounts receivable-net (7,468,772) (1,432,980)
Inventory (3,858,780) (2,239,254)
Prepaid expenses and other current assets (10,456,787) (805,571)
Accounts payable and accrued expenses 8,120,106 2,624,892
Deposits/deferred revenue and other current liabilities (96,281) (895,806)
Change in Right to Use and Lease Obligation-net 150,547 105,943
Net cash provided by operating activities 3,395,084 1,033,988
Cash flows from investing activities:    
Proceeds from note receivable 1,331,011
Purchase of property and equipment (573,751) (77,974)
Cash consideration for acquisition-net of cash from acquisition (14,188,056)
Net cash provided/(used) in investing activities 757,260 (14,266,030)
Cash flows from financing activities:    
Proceeds from notes payable-related-party, net 1,500,000
Payments on bonds payable (9,601,531)
Principal payments on financial lease obligations (280,208) (26,486)
Proceeds from exercise of stock options 4,126,791 224,083
Cash paid on taxes on restricted stock awards (656,680)
Net proceeds from collection of section 16b short swing profit 90,800
Net proceeds from sale of common stock 21,892,316 26,955,437
Net cash provided by financing activities 15,571,488 28,653,034
Effect on exchange rate changes on cash and cash equivalents 433,507 (73,491)
Net increase in cash and cash equivalents 20,157,339 15,347,501
Cash and cash equivalents at beginning of the year 23,090,682 7,743,181
Cash and cash equivalents at end of the year 43,248,021 23,090,682
Supplemental disclosures:    
Cash paid during period for Interest 447,816 131,528
Non-cash investing and financing activities:    
Debt conversion and related accrued expenses 10,233,332
European Acquisition Adjustment:    
Goodwill 395,515
Other liabilities $ (395,515)