XML 12 R2.htm IDEA: XBRL DOCUMENT v3.23.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 2,859,723 $ 3,532,199
Accounts receivable – trade, net of $181,761 allowance – March 31, 2023 and $146,964 – December 31, 2022 2,199,255 2,044,056
Other receivables, net of $5,000 allowance – March 31, 2023 and $0 – December 31, 2022 (including $138,384 due from related parties – March 31, 2023 and $138,384 – December 31, 2022, refer to Note 20) 2,592,046 4,076,522
Inventories, net 5,921,079 6,839,406
Prepaid expenses 7,782,010 8,466,413
Total current assets 21,354,113 24,958,596
Property, plant, and equipment, net 7,750,712 7,898,686
Goodwill and other intangible assets, net 17,548,479 17,872,970
Operating lease right of use assets, net 1,189,053 782,129
Other assets 7,600,887 5,155,681
Total assets 55,443,244 56,668,062
Current liabilities:    
Accounts payable 12,487,267 9,477,355
Accrued expenses 905,991 1,090,967
Current portion of operating lease obligations 287,520 294,617
Contract liabilities – current portion 2,624,870 2,154,874
Debt obligations – current portion 1,102,943 485,373
Income taxes payable 8,097 8,097
Total current liabilities 17,416,688 13,511,283
Long-term liabilities:    
Debt obligations – long term 254,944 442,467
Operating lease obligation – long term 969,728 555,707
Contract liabilities – long term 6,315,647 5,818,082
Lease Deposit 10,445
Total liabilities 24,967,452 20,327,539
Commitments and contingencies
Stockholders’ Equity:    
Common stock, $0.001 par value per share; 200,000,000 shares authorized; shares issued: 2,755,224 shares issued – March 31, 2023 and 2,720,170 shares issued – December 31, 2022 2,756 2,721
Additional paid in capital 127,984,155 127,869,342
Noncontrolling interest in consolidated subsidiary 574,933 448,694
Accumulated deficit (98,086,052) (91,980,234)
Total stockholders’ equity 30,475,792 36,340,523
Total liabilities and stockholders’ equity $ 55,443,244 $ 56,668,062