XML 17 R4.htm IDEA: XBRL DOCUMENT v3.22.1
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)    
REVENUE $ 56,239,667 $ 55,406,337
COST OF GOODS SOLD 47,909,180 47,345,957
GROSS PROFIT 8,330,487 8,060,380
OPERATING EXPENSES    
General and administrative expenses 9,208,701 2,102,869
Salaries and wages 2,472,953 2,082,453
Sales and marketing expenses 732,545 763,170
Depreciation and amortization expense 449,692 397,595
TOTAL OPERATING EXPENSES 12,863,891 5,346,087
INCOME (LOSS) FROM OPERATIONS (4,533,404) 2,714,293
Other income (expense), net (88,882) 4,571
Interest expense (2,823,842) (2,761,004)
Interest income 46,316 65,865
Non-cash interest expense (757,021) (34,106)
Gain (loss) on equity investments, net 2,541 (34,443)
Gain on extinguishment of debt 606,667 942,029
Change in fair value of derivative liability 193,513 (4,158)
Foreign currency transaction, net (493,527) 305,274
TOTAL OTHER EXPENSE, NET (3,314,235) (1,515,972)
INCOME (LOSS) BEFORE INCOME TAXES (7,847,639) 1,198,321
PROVISION FOR INCOME TAXES (114,010) (377,535)
NET INCOME (LOSS) (7,961,649) 820,786
Deemed dividend on warrants (7,633,033) 0
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS (15,594,682) 820,786
OTHER COMPREHENSIVE INCOME(LOSS)    
Foreign currency translation adjustment, net (1,006,517) 871,235
TOTAL COMPREHENSIVE INCOME (LOSS) $ (16,601,199) $ 1,692,021
BASIC NET INCOME (LOSS) PER SHARE $ (0.95) $ 0.06
DILUTED NET INCOME (LOSS) PER SHARE $ (0.95) $ 0.06
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING    
Weighted Average Number Of Shares Outstanding Basic 16,423,335 13,270,097
Weighted Average Number Of Diluted Shares Outstanding 16,423,335 13,307,794