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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 927,861 $ 680,549
Accounts receivable – trade, net of $234,727 allowance – March 31, 2024 and $200,668 – December 31, 2023 1,207,752 1,584,662
Other receivables, net of $25,000 allowance – March 31, 2024 and $5,000 – December 31, 2023 3,213,740 3,107,634
Inventories, net 3,148,689 3,845,281
Prepaid expenses 6,575,013 6,366,368
Total current assets 15,073,055 15,584,494
Property, plant, and equipment, net 6,207,795 7,283,702
Goodwill and other intangible assets, net 16,625,032 16,510,422
Operating lease right of use assets, net 925,128 1,053,159
Other assets 6,333,185 6,597,032
Total assets 45,164,195 47,028,809
Current liabilities:    
Accounts payable 11,212,697 10,732,089
Accrued expenses 3,137,144 3,269,330
Current portion of operating lease obligations 225,960 279,538
Contract liabilities – current portion 3,299,714 2,937,168
Notes payable – related party – current portion 2,700,000 2,700,000
Debt obligations – current portion 2,403,029 1,260,513
Warrant derivative liabilities 1,718,629 1,369,738
Income taxes payable 61
Total current liabilities 24,697,173 22,548,437
Long-term liabilities:    
Debt obligations – long term 4,875,831 4,853,237
Operating lease obligation – long term 749,718 827,836
Contract liabilities – long term 7,285,206 7,340,459
Lease Deposit 10,445 10,445
Total liabilities 37,618,373 35,580,414
Commitments and contingencies
Stockholders’ Equity:    
Common stock, $0.001 par value per share; 200,000,000 shares authorized; shares issued: 2,879,826 shares issued – March 31, 2024 and 2,800,754 shares issued – December 31, 2023 2,880 2,801
Additional paid in capital 128,481,699 128,441,083
Noncontrolling interest in consolidated subsidiary 661,044 673,292
Accumulated deficit (121,599,801) (117,668,781)
Total stockholders’ equity 7,545,822 11,448,395
Total liabilities and stockholders’ equity $ 45,164,195 $ 47,028,809