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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Unaudited)        
REVENUE $ 14,352,098 $ 9,685,850 $ 39,105,318 $ 27,883,147
COST OF GOODS SOLD 11,954,788 8,886,084 33,166,706 25,988,226
GROSS PROFIT 2,397,310 799,766 5,938,612 1,894,921
OPERATING EXPENSES        
General and administrative expenses 1,017,686 808,138 2,702,259 2,444,351
Sales and marketing expenses 211,874 15,342 645,930 26,632
Depreciation and amortization expense 87,747 92,848 298,543 240,130
TOTAL OPERATING EXPENSES 1,317,307 916,328 3,646,732 2,711,113
INCOME (LOSS) FROM OPERATIONS 1,080,003 (116,562) 2,291,880 (816,192)
OTHER INCOME (EXPENSE)        
Other income (expense), net 75,124 (94,321) 103,073 232,022
Interest expense (789,426) (366,677) (1,853,414) (955,791)
Non-cash interest expense 0 (19,498) (29,509) (284,008)
Loss on equity investments, net (46,883) (660,893) (36,637) (1,103,035)
Gain on extinguishment of debt 16,194 0 795,418 0
Foreign currency transaction gain (loss), net 427,289 (375,947) 394,983 (457,362)
TOTAL OTHER EXPENSE, NET (317,702) (1,517,336) (626,086) (2,568,174)
INCOME (LOSS) BEFORE INCOME TAXES 762,301 (1,633,898) 1,665,794 (3,384,366)
INCOME TAX (EXPENSE) BENEFIT (4,435) 549 (13,927) (6,189)
NET INCOME (LOSS) 757,866 (1,633,349) 1,651,867 (3,390,555)
OTHER COMPREHENSIVE INCOME (LOSS)        
Foreign currency translation adjustment, net 79,882 89,563 118,960 118,625
TOTAL COMPREHENSIVE INCOME (LOSS) $ 837,748 $ (1,543,786) $ 1,770,827 $ (3,271,930)
BASIC NET INCOME (LOSS) PER SHARE $ 0.06 $ (0.12) $ 0.12 $ (0.26)
DILUTED NET INCOME (LOSS) PER SHARE $ 0.06 $ (0.12) $ 0.12 $ (0.26)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING        
Basic 13,225,387 13,225,387 13,225,387 13,289,843
Diluted 13,263,944 13,225,387 13,260,518 13,289,843