XML 15 R4.htm IDEA: XBRL DOCUMENT v3.24.3
Condensed Consolidated Statement of Operations and Comprehensive Income (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Income Statement [Abstract]        
Revenues $ 25,602,310 $ 29,907,697 $ 91,156,640 $ 75,483,811
Cost of revenues 18,649,995 19,850,258 62,253,681 51,706,682
Gross profit 6,952,315 10,057,439 28,902,959 23,777,129
Operating expenses:        
Selling expense 2,628,915 2,104,505 7,936,761 6,541,244
General and administrative 3,895,232 2,716,733 12,096,874 9,038,488
Impairment loss on supplier deposit 29,883 772,780
Research and development 94,771 257,021
Total operating expenses 6,648,801 4,821,238 21,063,436 15,579,732
Income from operations 303,514 5,236,201 7,839,523 8,197,397
Other income (expense):        
Other income, net 210,701 41,133 590,538 113,001
Loss on litigation (3,573,651) (3,573,651)
Interest expense (64,462) (213,901) (268,803) (494,011)
Total other (expense) income, net (3,427,412) (172,768) (3,251,916) (381,010)
(Loss) income before income taxes (3,123,898) 5,063,433 4,587,607 7,816,387
(Recovery of ) provision for income taxes (621,665) 1,106,046 1,092,528 1,236,551
Net (loss) income and comprehensive (loss) income $ (2,502,233) $ 3,957,387 $ 3,495,079 $ 6,579,836
(Loss) Earnings per Share – basic $ (0.06) $ 0.10 $ 0.09 $ 0.16
Weighted average shares outstanding – basic [1] 41,325,388 40,000,000 40,863,370 40,000,000
(Loss) Earnings per Share –diluted $ (0.06) $ 0.10 $ 0.09 $ 0.16
Weighted average shares outstanding –diluted [1] 41,325,388 40,000,000 41,005,556 40,000,000
[1] Retroactively restated for effect of reorganization