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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS            
REVENUE $ 12,411,048 $ 12,823,797 $ 40,202,238 $ 37,537,003 $ 53,376,874 $ 50,347,652
COST OF GOODS SOLD 11,204,186 11,609,039 36,894,502 34,418,334 49,027,305 44,390,695
GROSS PROFIT 1,206,862 1,214,758 3,307,736 3,118,669 4,349,569 5,956,957
OPERATING EXPENSES            
General and administrative expenses 1,782,957 2,573,414 4,591,620 6,662,579 19,642,005 10,183,025
Salaries and wages 1,317,782 1,252,680 4,030,823 3,279,803 4,719,768 2,429,021
Sales and marketing expenses 41,848 157,435 326,291 942,759 1,204,636 630,057
Depreciation and amortization expense 304,139 248,530 937,000 478,466 614,377 188,890
TOTAL OPERATING EXPENSES 3,446,726 4,232,059 9,885,734 11,363,607 26,180,786 13,430,993
LOSS FROM OPERATIONS (2,239,864) (3,017,301) (6,577,998) (8,244,938) (21,831,217) (7,474,036)
OTHER INCOME (EXPENSE)            
Other expense, net (1,921) 14,404 160,598 (14,330) (65,867) (2,424,649)
Interest expense (181,429) (151,274) (692,547) (529,782) (866,476) (2,345,410)
Interest income 101,236 110,596 309,031 555,281 662,859 236,349
Gain on equity investments, net 428 (1,093) 2,518 2,876 4,584 1,676
Gain on extinguishment of debt 0 706 0 1,911,476 1,910,967 1,004,124
Change in fair value of derivative liability 0 0 0 3,384 3,384 (20,257)
Bargain purchase gain 0 0 0 1,633,842 1,440,249 0
Foreign currency transaction, net 139,016 (371,115) 158,463 (108,406) 198,863 (413,279)
Non-cash interest expense         0 (1,619,838)
TOTAL OTHER INCOME (EXPENSE), NET 57,330 (397,776) (61,937) 3,454,341 3,288,563 (5,581,284)
LOSS BEFORE INCOME TAXES (2,182,534) (3,415,077) (6,639,935) (4,790,597) (18,542,654) (13,055,320)
INCOME TAX EXPENSE 0 65,873 0 0 0 (775,051)
NET LOSS (2,182,534) (3,349,204) (6,639,935) (4,790,597) (18,542,654) (13,830,371)
Deemed dividend on issuance of warrants 6,185,231 0 6,185,231   0 32,004,730
Deemed dividend on downround of warrants 0 (15,053) 0 (15,053) (22,695) (8,480,379)
Deemed dividend on warrant exchange/modification (9,793) 0 (9,793)   (7,218,485) (1,067,876)
Deemed dividend on downround of preferred stock         0 (8,189,515)
Deemed dividend on preferred stock         0 (372,414)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS (8,377,558) (3,364,257) (12,834,959) (4,805,650) (25,783,834) (63,945,285)
OTHER COMPREHENSIVE INCOME (LOSS)            
Foreign currency translation adjustment, net 747,879 (890,645) (27,988) (470,994) 712,791 (981,014)
TOTAL COMPREHENSIVE LOSS $ (7,629,679) $ (4,254,902) $ (12,862,947) $ (5,276,644) $ (25,071,043) $ (64,926,299)
BASIC NET LOSS PER SHARE $ (0.45) $ (0.27) $ (0.72) $ (0.42) $ (2.15) $ (33.16)
DILUTED NET LOSS PER SHARE $ (0.45) $ (0.27) $ (0.72) $ (0.42) $ (2.15) $ (33.16)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING            
Basic 18,418,287 12,585,479 17,724,305 11,346,071 11,968,665 1,928,172
Diluted 18,418,287 12,585,479 17,724,305 11,346,071 11,968,665 1,928,172