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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2023
Sep. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited)        
REVENUE $ 12,823,797 $ 12,016,098 $ 37,537,003 $ 38,296,402
COST OF GOODS SOLD 11,609,039 10,232,201 34,418,334 32,774,701
GROSS PROFIT 1,214,758 1,783,897 3,118,669 5,521,701
OPERATING EXPENSES        
General and administrative expenses 2,573,414 1,335,033 6,662,579 3,192,137
Salaries and wages 1,252,680 576,118 3,279,803 1,675,068
Sales and marketing expenses 157,435 103,979 942,759 496,371
Depreciation and amortization expense 248,530 112,879 478,466 334,349
TOTAL OPERATING EXPENSES 4,232,059 2,128,009 11,363,607 5,697,925
LOSS FROM OPERATIONS (3,017,301) (344,112) (8,244,938) (176,224)
OTHER INCOME (EXPENSE)        
Other income (expense), net 14,404 (5,431) (14,330) (60,558)
Interest expense (151,274) (517,660) (529,782) (1,722,750)
Interest income 110,596 55,715 555,281 180,813
Non-cash interest expense 0 (295,846) 0 (772,180)
Gain (loss) on equity investments, net (1,093) 359 2,876 415
Gain on extinguishment of debt 706 0 1,911,476 1,004,124
Change in fair value of derivative liability 0 628 3,384 (6,627)
Bargain purchase gain 0 0 1,633,842 0
Foreign currency transaction, net (371,115) (468,362) (108,406) (984,401)
TOTAL OTHER INCOME (EXPENSE), NET (397,776) (1,230,597) 3,454,341 (2,361,164)
LOSS BEFORE INCOME TAXES (3,415,077) (1,574,709) (4,790,597) (2,537,388)
INCOME TAX EXPENSE 65,873 (398,066) 0 (473,296)
NET LOSS (3,349,204) (1,972,775) (4,790,597) (3,010,684)
Deemed dividend on issuance of warrants 0 0 0 (5,788,493)
Deemed dividend on downround of warrants (15,053) 0 (15,053) (8,480,379)
Deemed dividend on downround of preferred stock 0 0 0 (8,189,515)
Deemed dividend on preferred stock 0 (19,607) 0 (372,414)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS (3,364,257) (1,992,382) (4,805,650) (25,841,485)
OTHER COMPREHENSIVE LOSS        
Foreign currency translation adjustment, net (890,645) (1,029,141) (470,994) (2,463,245)
TOTAL COMPREHENSIVE LOSS $ (4,254,902) $ (3,021,523) $ (5,276,644) $ (28,304,730)
BASIC NET LOSS PER SHARE $ (0.27) $ (1.93) $ (0.42) $ (29.35)
DILUTED NET LOSS PER SHARE $ (0.27) $ (1.93) $ (0.42) $ (29.35)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING        
Basic 12,585,479 1,032,275 11,346,071 880,542
Diluted 12,585,479 1,032,275 11,346,071 880,542