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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited)        
REVENUE $ 14,846,925 $ 12,819,972 $ 26,466,001 $ 24,753,220
COST OF GOODS SOLD 12,810,082 10,471,841 23,427,823 21,211,918
GROSS PROFIT 2,036,843 2,348,131 3,038,178 3,541,302
OPERATING EXPENSES        
General and administrative expenses 3,165,268 870,704 5,385,536 1,684,573
Sales and marketing expenses 139,633 380,326 544,725 434,056
Depreciation and amortization expense 108,413 110,788 215,486 210,796
TOTAL OPERATING EXPENSES 3,413,314 1,361,818 6,145,747 2,329,425
INCOME (LOSS) FROM OPERATIONS (1,376,471) 986,313 (3,107,569) 1,211,877
OTHER INCOME (EXPENSE)        
Other expense, net (39,415) 39,383 (217,626) 27,949
Interest income (expense) (780,607) (651,867) (1,512,433) (1,063,988)
Non-cash interest expense (88,979) 0 (139,088) (29,509)
Gain (loss) on equity investments, net (161) 32,418 279 10,246
Gain on extinguishment of debt 0 779,224 445,636 779,224
Change in fair value of derivative liability 26,496 0 87,869 0
Foreign currency transaction, net 96,584 194,828 (209,436) (32,306)
TOTAL OTHER INCOME (EXPENSE), NET (786,082) 393,986 (1,544,799) (308,384)
LOSS BEFORE INCOME TAXES (2,162,553) 1,380,299 (4,652,368) 903,493
BENEFIT FROM (PROVISION FOR) INCOME TAXES (216,503) (2,988) 99,409 (9,492)
NET INCOME (LOSS) (2,379,056) 1,377,311 (4,552,959) 894,001
OTHER COMPREHENSIVE INCOME(LOSS)        
Foreign currency translation adjustment, net 284 182,840 (473,294) 39,078
TOTAL COMPREHENSIVE INCOME (LOSS) $ (2,378,772) $ 1,560,151 $ (5,026,253) $ 933,079
BASIC NET INCOME (LOSS) PER SHARE $ (0.15) $ 0.10 $ (0.29) $ 0.07
DILUTED NET INCOME (LOSS) PER SHARE $ (0.15) $ 0.10 $ (0.29) $ 0.07
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING        
Basic 16,105,409 13,225,387 15,572,773 13,225,387
Diluted 16,105,409 13,254,116 15,572,773 13,254,953