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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
Dec. 31, 2023
Dec. 31, 2022
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS            
REVENUE $ 13,206,717 $ 12,363,429 $ 27,791,190 $ 24,713,206 $ 53,376,874 $ 50,347,652
COST OF GOODS SOLD 12,439,469 11,416,595 25,690,316 22,809,295 49,027,305 44,390,695
GROSS PROFIT 767,248 946,834 2,100,874 1,903,911 4,349,569 5,956,957
OPERATING EXPENSES            
General and administrative expenses 1,390,525 2,000,151 2,808,663 4,089,165 19,642,005 10,183,025
Salaries and wages 1,454,862 1,077,672 2,713,041 2,027,123 4,719,768 2,429,021
Sales and marketing expenses 110,813 318,061 284,443 785,324 1,204,636 630,057
Depreciation and amortization expense 313,074 127,415 632,861 229,936 614,377 188,890
TOTAL OPERATING EXPENSES 3,269,274 3,523,299 6,439,008 7,131,548 26,180,786 13,430,993
LOSS FROM OPERATIONS (2,502,026) (2,576,465) (4,338,134) (5,227,637) (21,831,217) (7,474,036)
OTHER INCOME (EXPENSE)            
Other expense, net (29,305) (34,477) 162,519 (28,734) (65,867) (2,424,649)
Interest expense (342,446) (244,135) (511,118) (378,508) (866,476) (2,345,410)
Interest income 102,030 261,269 207,795 444,685 662,859 236,349
Non-cash interest expense         0 (1,619,838)
Gain on equity investments, net 335 2,676 2,090 3,969 4,584 1,676
Gain on extinguishment of debt 0 2,257 0 1,910,770 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 1,633,842 0 1,633,842 1,440,249 0
Foreign currency transaction, net 180,701 66,674 19,447 262,709 198,863 (413,279)
TOTAL OTHER INCOME (EXPENSE), NET (88,685) 1,688,106 (119,267) 3,852,117 3,288,563 (5,581,284)
LOSS BEFORE INCOME TAXES (2,590,711) (888,359) (4,457,401) (1,375,520) (18,542,654) (13,055,320)
INCOME TAX EXPENSE 0 (93,171) 0 (65,873) 0 775,051
NET LOSS (2,590,711) (981,530) (4,457,401) (1,441,393) (18,542,654) (13,830,371)
Deemed dividend on issuance of warrants         0 (32,004,730)
Deemed dividend on downround of warrants         (22,695) (8,480,379)
Deemed dividend on warrant exchange         (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 (2,590,711) (981,530) (4,457,401) (1,441,393) (25,783,834) (63,945,285)
Foreign currency translation adjustment, net (176,591) 83,188 (775,867) 419,651 712,791 (981,014)
TOTAL COMPREHENSIVE LOSS $ (2,767,302) $ (898,342) $ (5,233,268) $ (1,021,742) $ (25,071,043) $ (64,926,299)
BASIC NET LOSS PER SHARE $ (0.15) $ (0.09) $ (0.26) $ (0.13) $ (2.15) $ (33.16)
DILUTED NET LOSS PER SHARE $ (0.15) $ (0.09) $ (0.26) $ (0.13) $ (2.15) $ (33.16)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING            
Basic 17,834,023 10,819,645 17,025,203 10,718,010 11,968,665 1,928,172
Diluted 17,834,023 10,819,645 17,025,203 10,718,010 11,968,665 1,928,172