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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Cash flows from operating activities:    
Net income $ 4,545,768 $ 2,104,385
Adjustments to reconcile net income to net cash used in operating activities:    
Depreciation 178,425 50,351
Amortization 375,141 851,045
Bad debt allowance 854,606 221,182
Inventory excess and obsolescence allowance 1,260,076 (137,370)
Stock-based compensation expense 7,597,260 2,574,999
Gain on China transaction 23,100
Gain on lease cancellations (152,112)
Changes in operating assets and liabilities:    
Accounts receivable-net (18,267,216) (4,668,549)
Inventories-net (46,683,050) (8,082,699)
Prepaid expenses and other current assets (8,117,719) (142,419)
Accounts payable and accrued expenses 27,579,323 2,856,654
Deposits/deferred revenue and other current liabilities 339,952 109,313
Change in right-of-use asset and lease liability-net 7,970 146,042
Net cash used in operating activities (30,329,464) (4,246,078)
Cash flows from investing activities:    
Proceeds from note receivable 1,876,273 1,331,011
Purchase of property and equipment (1,216,050) (315,777)
Net cash provided by investing activities 660,223 1,015,234
Cash flows from financing activities:    
Principal payments on finance lease obligations (49,592) (222,052)
Proceeds from capital raise 67,769,386
Proceeds from exercise of stock options 2,515,017 704,664
Net cash provided by financing activities 70,234,811 482,612
Effect on exchange rate changes on cash and cash equivalents (23,610) (231,635)
Net increase (decrease) in cash and cash equivalents 40,541,960 (2,979,867)
Cash and cash equivalents at beginning of the period 43,248,021 23,090,682
Cash and cash equivalents at end of the period 83,789,981 20,110,815
Supplemental disclosures:    
Cash paid during period for: Interest $ 2,972 $ 257,418