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Consolidated Balance Sheets - USD ($)
Dec. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 17,964,184 $ 18,321,624
Accounts receivable, net 11,701,466 9,758,176
Inventories, net 3,999,995 4,609,362
Prepaid and other current assets 2,786,513 3,025,248
Total current assets 36,452,158 35,714,410
Non-current inventories 11,005,499 12,804,529
Property and equipment, net 277,365 367,903
Intangible assets, net 17,973,449 22,607,918
Goodwill 914,000 914,000
Operating lease right-of-use assets 6,176,923 6,674,394
Other assets 2,784,016 2,692,921
Total assets 75,583,410 81,776,075
Current liabilities:    
Accounts payable 13,914,266 14,037,629
Operating lease current liabilities 356,508 348,092
Revolving line of credit - current 5,100,000 0
Other current liabilities 12,250,955 13,596,528
Total current liabilities 31,621,729 27,982,249
Revolving line of credit - long term 10,176,170 12,784,144
Operating lease non-current liabilities 4,939,739 5,296,247
Total other long-term liabilities 6,299,795 6,453,566
Total liabilities 53,037,433 52,516,206
Shareholders’ equity:    
Common stock – no par value; 100,000,000 shares authorized; 13,952,624 and 14,121,833 shares issued and outstanding as of December 31, 2024 and 2023, respectively 46,821,425 47,091,602
Accumulated deficit (23,967,931) (17,488,161)
Total shareholders’ equity 22,853,494 29,603,441
Noncontrolling interests (307,517) (343,572)
Total equity 22,545,977 29,259,869
Total liabilities and equity $ 75,583,410 $ 81,776,075