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Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 2,923,881 $ 3,532,199
Accounts receivable – trade, net of $176,876 allowance – June 30, 2023 and $152,736 – December 31, 2022 1,834,849 2,044,056
Other receivables, net of $5,000 allowance – June 30, 2023 and $0 – December 31, 2022 (including $138,384 due from related parties – June 30, 2023 and $138,384 – December 31, 2022, refer to Note 20) 2,753,080 4,076,522
Inventories, net 5,840,216 6,839,406
Prepaid expenses 6,962,494 8,466,413
Total current assets 20,314,520 24,958,596
Property, plant, and equipment, net 7,604,194 7,898,686
Goodwill and other intangible assets, net 17,203,366 17,872,970
Operating lease right of use assets, net 1,124,291 782,129
Income tax receivable 9,347
Other assets 7,248,205 5,155,681
Total assets 53,503,923 56,668,062
Current liabilities:    
Accounts payable 12,543,492 9,477,355
Accrued expenses 2,939,881 1,090,967
Current portion of operating lease obligations 291,074 294,617
Contract liabilities – current portion 2,905,052 2,154,874
Debt obligations, net – current portion 1,468,857 485,373
Warrant derivative liabilities 3,276,146
Income taxes payable 8,097
Total current liabilities 23,424,502 13,511,283
Long-term liabilities:    
Debt obligations – long term 158,615 442,467
Operating lease obligation – long term 901,412 555,707
Contract liabilities – long term 6,554,473 5,818,082
Lease Deposit 10,445
Total liabilities 31,049,447 20,327,539
Commitments and contingencies
Stockholders’ Equity:    
Common stock, $0.001 par value per share; 200,000,000 shares authorized; shares issued: 2,800,752 shares issued – June 30, 2023 and 2,720,170 shares issued – December 31, 2022 2,801 2,721
Additional paid in capital 128,283,343 127,869,342
Noncontrolling interest in consolidated subsidiary 647,688 448,694
Accumulated deficit (106,479,356) (91,980,234)
Total stockholders’ equity 22,454,476 36,340,523
Total liabilities and stockholders’ equity $ 53,503,923 $ 56,668,062