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INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2021

Income Tax Disclosure [Abstract]

Schedule of domestic and foreign components

The domestic and foreign components of the Company's income before provision for income taxes are as follows:

		2021				2020
Domestic		$	(4,175,915	)		$	8,110,620
Foreign			117,468				529,406
Income (loss) before provision for income taxes		$	(4,058,447	)		$	8,640,026

Schedule of provision for income taxes

The provision (benefit) for income taxes consists of the following:

Current:		2021				2020
Domestic		$	—			$	—
State			1,522,955				—
Foreign(1)			(37,871	)			116,177
		$	1,485,084			$	116,177

(1) $81,500 of expense in 2020 was recorded in Other expenses

Deferred
Domestic		$	(7,141,704	)		$	—
State and local			(1,877,538	)			—
Foreign			(461,562	)			—
			(9,480,804	)		$	—
Total			(7,995,720	)			116,177

Schedule of effective rate on income before provision (benefit) for income taxes

The reconciliation of the U.S. federal statutory rate to the Company's effective rate on income before provision (benefit) for income taxes is as follows:

		2021				2020
U.S. Statutory federal rate			21.0	%			21.0	%
State taxes, net of federal benefit			(12.5	)%			4.4	%
Stock based compensation			50.4	%			6.7	%
Change in valuation allowance			219.8	%			(29.8	)%
Change in deferred balances			(80.6	)%			—
Other			(0.9	)%			0.0	%
Effective tax rate			197.2	%			2.3	%

Schedule of deferred tax assets

Deferred tax assets and liabilities consisted of the following:

		December 31, 2021				December 31, 2020
Net operating loss carryforwards		$	6,685,036			$	12,051,503
Charitable Contributions			17,339				—
Fixed Assets			(627,075	)			(50,411	)
Right of Use Liability			134,102				—
Right of Use Asset			(121,895	)			—
FIN48			130,298				—
Stock-based compensation			6,190,115				389,816
Inventory allowance			800,443				548,118
Intangibles			(3,316,817	)			—
Total deferred tax assets			9,891,546				12,939,026
Valuation allowance			(4,018,699	)			(12,939,026	)
Net Deferred Tax Assets			5,872,847				—

Schedule of reconciliation of the beginning and ending amounts of unrecognized tax benefits

A reconciliation of the beginning and ending amounts of unrecognized tax benefits is as follows:

		2021				2020
Gross unrecognized tax benefit, beginning of period		$	81,500			$	—
Additions based on tax positions related to the current year			—				81,500
Additions based on tax positions related to the prior years			998,691				—
Reductions due to lapse in statute of limitations and settlements			—				—
Gross unrecognized tax benefit, end of period		$	1,080,191			$	81,500

Summary of the filing jurisdictions and open tax years

Below is a summary of the filing jurisdictions and open tax years:

		Open Years
U.S. Federal		2018-2020
U.S State and local		2017-2020
Non-U.S.		2015-2020

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