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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current Assets:    
Cash and cash equivalents $ 2,029,971 $ 4,859,059
Banker’s acceptances 13,784 91,362
Trade accounts receivable, less allowance for doubtful accounts of $16,739,527 and $18,312,707, respectively 421,531 714,475
Other receivables, less allowance for doubtful accounts of $27,149 and $32,210, respectively 29,139 29,564
Advances to suppliers 444,637 471
Inventory 2,947,787 3,339,686
Prepaid expenses 77,697 58,792
Total Current Assets 5,964,546 9,093,409
Property, plant and equipment, net 9,973,065 13,280,559
Operating lease right of use asset 39,046 127,958
Intangible assets, net 1,807,486 147,841
TOTAL ASSETS 17,784,143 22,649,767
Current Liabilities:    
Trade accounts payable 667,082 926,749
Accrued expenses 404,807 298,452
Other payables 2,390,063 1,884,161
Advances from customers 520,295 210,028
Borrowings from related parties 2,475,840 2,779,690
Operating lease liability 40,445 85,282
Current portion of lines of credit 2,440,915 4,328,936
Convertible, redeemable note payable, net of issue discount 3,800,000  
Total Current Liabilities 12,739,447 10,513,298
Non-current Liabilities:    
Convertible, redeemable note payable, net of issue discount   5,250,000
Operating lease liability, net of current portion   44,181
Deferred tax liability 754,698 824,407
Total Liabilities 13,494,145 16,631,886
Commitments and Contingencies (Note 9)
Stockholders’ Equity:    
Preferred stock, $0.001 par value; 5,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.001 par value; 500,000,000 shares authorized; 7,490,896 shares and 4,733,956 shares issued and outstanding, respectively 74,909 47,340
Additional paid-in capital 28,853,520 25,645,367
Retained deficit (36,211,496) (32,238,655)
Accumulated other comprehensive income 11,573,065 12,563,829
Total Stockholders’ Equity 4,289,998 6,017,881
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 17,784,143 $ 22,649,767