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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current assets:    
Cash and cash equivalents $ 19,757,970 $ 27,040,816
Accounts receivable, net of allowances 13,163,681 6,877,346
Inventories, net 9,863,581 8,429,882
Prepaid and other current assets 3,084,978 3,339,969
Total current assets 45,870,210 45,688,013
Noncurrent inventories 7,527,167 9,048,567
Property and equipment, net 284,039 442,635
Intangible assets, net 30,590,678 23,954,475
Goodwill 914,000 882,000
Operating lease right-of-use assets 5,218,403 1,024,200
Other assets 2,520,661 3,419,908
Total assets 92,925,158 84,459,798
Current liabilities:    
Accounts payable 10,819,011 9,640,980
Operating lease current liabilities 172,910 969,677
Other current liabilities 17,587,911 8,668,303
Total current liabilities 28,579,832 19,278,960
Revolving line of credit 16,200,000 15,000,000
Operating Lease, Liability, Noncurrent 4,586,301 90,016
Other long-term liabilities 7,585,019 7,488,844
Total liabilities 56,951,152 41,857,820
Commitments and contingencies
Shareholders’ equity:    
Common stock – no par value; 100,000,000 shares authorized; 14,366,316 and 14,742,754 shares issued and outstanding as of December 31, 2022 and 2021, respectively 47,474,973 48,452,906
Retained earnings (11,208,841) (5,638,600)
Total shareholders’ equity 36,266,132 42,814,306
Noncontrolling interests (292,126) (212,328)
Total equity 35,974,006 42,601,978
Total liabilities and equity $ 92,925,158 $ 84,459,798