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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash $ 822,921 $ 819,024
Accounts receivable, net 1,351,355 2,057,546
Inventories, net 6,438,206 6,936,980
Prepaid and other current assets 720,645 548,561
Note receivable 185,000
Total current assets 9,333,127 10,547,111
Property and equipment, net 666,152 799,892
Right-of-use assets 3,112,824 3,525,406
Intangible assets, net 2,456,592 2,615,281
Goodwill 7,402,644 7,402,644
Other assets 249,768 265,567
Total assets 23,221,107 25,155,901
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Accounts payable 2,647,583 3,062,794
Accrued liabilities 1,690,640 1,944,352
Convertible note 4,749,491 4,504,500
Other short-term loan 678,572
Contract liabilities 349,483 226,316
Current portion of lease liabilities 873,344 901,925
Current portion of COVID loan 310,010 391,545
Total current liabilities 11,299,123 11,031,432
Long-term portion of lease liabilities 2,336,393 2,721,743
Long-term portion of COVID loan 355,215 489,037
Defined benefit plan obligation 177,456 216,133
Total liabilities 14,168,187 14,458,345
COMMITMENTS AND CONTINGENCIES (NOTE 13)
STOCKHOLDERS’ EQUITY:    
Preferred Stock, $0.001 par value, 25,000,000 shares authorized: Preferred Stock, Series F Convertible, $0.001 par value, 35,000 shares authorized, 3,945 shares issued and outstanding as of March 31, 2024, and 6,075 shares issued and outstanding as of December 31, 2023 4 6
Common Stock, $0.001 par value, 250,000,000 shares authorized, 10,891,427 and 7,026,297 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively 10,892 7,026
Additional paid-in capital 186,247,756 176,167,312
Accumulated deficit (177,148,382) (165,583,091)
Accumulated other comprehensive (loss) income (57,350) 106,303
Total stockholders’ equity 9,052,920 10,697,556
Total liabilities and stockholders’ equity $ 23,221,107 $ 25,155,901