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Consolidated Balance Sheets - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 18,321,624 $ 19,757,970
Accounts receivable, net 9,758,176 13,163,681
Inventories, net 4,609,362 9,863,581
Prepaid and other current assets 3,025,248 3,084,978
Total current assets 35,714,410 45,870,210
Non-current inventories 12,804,529 7,527,167
Property and equipment, net 367,903 284,039
Intangible assets, net 22,607,918 30,590,678
Goodwill 914,000 914,000
Operating lease right-of-use assets 6,674,394 5,218,403
Other assets 2,692,921 2,520,661
Total assets 81,776,075 92,925,158
Current liabilities:    
Accounts payable 14,037,629 10,819,011
Operating lease current liabilities 348,092 172,910
Other current liabilities 13,596,528 17,587,911
Total current liabilities 27,982,249 28,579,832
Revolving line of credit 12,784,144 16,200,000
Operating lease non-current liabilities 5,296,247 4,586,301
Total other long-term liabilities 6,453,566 7,585,019
Total liabilities 52,516,206 56,951,152
Commitments and contingencies
Shareholders’ equity:    
Common stock – no par value; 100,000,000 shares authorized; 14,121,833 and 14,366,316 shares issued and outstanding as of December 31, 2023 and 2022, respectively 47,091,602 47,474,973
Accumulated deficit (17,488,161) (11,208,841)
Total shareholders’ equity 29,603,441 36,266,132
Noncontrolling interests (343,572) (292,126)
Total equity 29,259,869 35,974,006
Total liabilities and equity $ 81,776,075 $ 92,925,158