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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2024
Dec. 31, 2023
CURRENT ASSETS:    
Cash $ 265,126 $ 819,024
Accounts receivable, net 2,156,425 2,057,546
Inventories, net 5,885,358 6,936,980
Prepaid and other current assets 512,483 548,561
Note receivable 185,000
Total current assets 8,819,392 10,547,111
Property and equipment, net 544,928 799,892
Right-of-use assets 2,863,417 3,525,406
Intangible assets, net 2,141,477 2,615,281
Goodwill 7,402,644 7,402,644
Other assets 266,009 265,567
Total assets 22,037,867 25,155,901
LIABILITIES AND STOCKHOLDERS’ EQUITY    
Accounts payable 3,557,286 3,062,794
Accrued liabilities 2,014,228 1,944,352
Convertible note 4,850,828 4,504,500
Other short-term loan 763,500
Contract liabilities 861,411 226,316
Current portion of lease liabilities 950,709 901,925
Current portion of COVID loan 362,478 391,545
Total current liabilities 13,360,440 11,031,432
Long-term portion of lease liabilities 2,006,920 2,721,743
Long-term portion of COVID loan 297,349 489,037
Defined benefit plan obligation 139,989 216,133
Total liabilities 15,804,698 14,458,345
COMMITMENTS AND CONTINGENCIES (NOTE 10)
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, 3,700 shares issued and outstanding as of September 30, 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, 17,320,462 and 7,026,297 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 17,321 7,026
Additional paid-in capital 191,117,514 176,167,312
Accumulated deficit (184,995,827) (165,583,091)
Accumulated other comprehensive income 94,157 106,303
Total stockholders’ equity 6,233,169 10,697,556
Total liabilities and stockholders’ equity $ 22,037,867 $ 25,155,901