XML 120 R2.htm IDEA: XBRL DOCUMENT v3.24.3
CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Dec. 31, 2022
CURRENT ASSETS:      
Cash and cash equivalents $ 3,314,845 $ 3,833,195 $ 20,749,683
Accounts receivable, net 17,484,240 19,759,254 23,691,997
Accounts receivable - related party 1,285,743 1,099,098 2,710,301
Marketable securities 22,808 20,075 14,881
Inventory 4,885,015 4,789,054 3,451,868
Loans receivable 491,897 411,858 377,038
Loans receivable - related party 445,800 442,480 427,920
Prepaid expenses and other current assets 1,914,881 1,811,911 1,546,225
Prepaid expenses and other current assets - related party 6,393,642 4,440,855 3,397,000
TOTAL CURRENT ASSETS 36,238,871 36,607,780 56,366,913
Property and equipment, net 10,575,928 10,455,499 1,817,025
Goodwill and intangible assets, net 7,746,761 7,684,183 706,914
Loans receivable - long term portion 3,225,879 3,509,200 3,792,034
Loans receivable - related party - long term 3,234,604 3,539,840 3,851,280
Operating lease right-of-use asset 710,711 1,131,552 1,069,747
Financing lease right-of-use asset 22,343 28,790 43,084
Advances for building's acquisition 2,000,020 2,000,020 0
Other assets 764,865 1,057,947 391,624
TOTAL ASSETS 64,519,982 66,014,811 68,038,621
CURRENT LIABILITIES:      
Accounts payable and accrued expenses 11,605,255 11,911,978 10,134,146
Accounts payable and accrued expenses - related party 1,027,327 231,564 205,360
Accrued interest 185,561 166,348 275,547
Lines of credit 5,989,425 6,630,273 5,758,737
Notes payable 1,622,349 1,570,886 2,158,417
Notes payable - related party 11,368 11,283 10,912
Loans payable - related party 21,158 13,257 12,821
Operating lease liability, current portion 241,422 285,563 239,899
Derivative liability - convertible note   0 54,293
Convertible notes payable, net of unamortized discount of $0 and $258,938, respectively   0 100,000
Financing lease liability, current portion 18,888 27,222 24,576
Other current liabilities 4,488,465 3,474,096 2,647,291
TOTAL CURRENT LIABILITIES 25,211,218 24,322,470 21,748,854
Taxes payable   0 126,855
Share settled debt obligation 0 0 1,554,590
Notes payable - long term portion 2,645,623 3,035,341 2,859,570
Operating lease liability, net of current portion 468,157 844,866 828,762
Financing lease liability, net of current portion 5,845 5,261 31,333
Other liabilities 1,212,540 1,763,845 1,358,803
TOTAL LIABILITIES 29,543,383 29,971,783 28,381,912
Commitments and Contingencies (see Note 14) 0 0 0
MEZZANINE EQUITY      
Preferred stock, $0.001 par value; 100,000,000 shares authorized: Series A preferred stock, stated value $1.000 per share, 6,000,000 shares authorized; 0 shares issued and outstanding as of December 31, 2023 and 2022; liquidation preference of $0 and $372,414 as of December 31, 2023 and 2022   0 372,414
STOCKHOLDERS' EQUITY:      
Common stock, $0.001 par value; 300,000,000 shares authorized; 23,346,023 and 15,982,472 shares issued and 23,259,526 and 15,895,975 outstanding as of September 30, 2024 and December 31, 2023, respectively 23,346 15,983 10,606
Additional paid-in capital 140,797,456 129,008,301 112,205,952
Subscription receivable (20) (20) (4,750,108)
Treasury stock, at cost, 86,497 and 15,497 shares as of and December 31, 2023 and 2022, respectively (917,159) (917,159) (816,707)
Accumulated deficit (104,479,192) (91,644,233) (66,232,813)
Accumulated other comprehensive loss (447,832) (419,844) (1,132,635)
TOTAL STOCKHOLDERS' EQUITY 34,976,599 36,043,028 39,284,295
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' EQUITY $ 64,519,982 $ 66,014,811 $ 68,038,621