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Consolidated Balance Sheets - USD ($)
Sep. 30, 2022
Dec. 31, 2021
Current assets    
Cash and cash equivalents $ 1,437,756 $ 12,570,445
Restricted cash 500,000 500,000
Accounts receivable, net of allowance of doubtful accounts of $335,804 and $236,819 as of September 30, 2022 and December 31, 2021, respectively 6,210,464 4,880,663
Inventories, net 30,312,862 33,891,287
Prepaid expenses and other current assets 327,509 587,885
Total current assets 38,788,591 52,430,280
Equipment, net 736,312 762,818
Operating lease right-of-use assets, net 212,483 241,626
Goodwill 58,872 58,872
Intangible assets, net 170,555 262,698
Other assets 567,629 544,738
Total assets 40,534,442 54,301,032
Current liabilities    
Bank credit line 5,844,559 5,065,074
Accounts payable 6,934,424 12,458,246
Current maturities of government loan 34,237
Current maturities of operating lease liabilities 158,468 143,486
Accrued expenses 5,621,518 5,279,917
Deferred revenue, current 563,026 291,296
Total current liabilities 19,121,995 23,272,256
Operating lease liabilities, less current maturities 54,015 98,811
Deferred revenue, noncurrent 690,698 443,452
Total liabilities 19,866,708 23,814,519
Commitments and Contingencies (Note 6)  
Stockholders’ equity    
Preferred Stock, authorized: 2,000,000 shares at $0.01 par value; 0 shares issued and outstanding
Common Stock, authorized: 60,000,000 shares at $0.01 par value; issued and outstanding: 46,578,730 shares at September 30, 2022 and 45,885,043 shares at December 31, 2021, respectively 465,786 458,850
Additional paid-in capital 90,515,197 89,313,273
Accumulated deficit (70,313,249) (59,285,610)
Total stockholders’ equity 20,667,734 30,486,513
Total liabilities and stockholders’ equity $ 40,534,442 $ 54,301,032