Quarterly report pursuant to Section 13 or 15(d)

UNAUDITED CONSOLIDATED BALANCE SHEETS

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UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 19,614,315 $ 6,316,921
Accounts receivable, net 5,733,675 7,458,383
Inventories, net 9,548,960 9,647,504
Prepaid expenses and other current assets 889,043 655,708
Total current assets 35,785,993 24,078,516
Property and equipment, net 3,368,959 3,487,178
Deposits and other 45,136 81,709
Deferred tax assets, net 3,638,073 3,698,593
Goodwill 7,120,510 7,120,510
Intangible assets, net 498,357 662,257
Total Assets 50,457,028 39,128,763
Current liabilities    
Accounts payable 2,735,695 976,420
Accrued expenses and other liabilities 3,585,102 3,481,444
Current portion of notes payable, net of debt discount of $292 and $2,047, respectively (Note 7) 1,190,065 1,365,204
Current portion of related party notes payable, net of debt discount of $962 and $6,726, respectively (Note 7) 50,685 199,943
Current portion of senior secured convertible note, net of debt discounts of $165,731 and $256,242, respectively (Note 7) 2,288,814 1,789,212
Total current liabilities 9,850,361 7,812,223
Senior secured convertible note, net of current portion and debt discounts of $0 and $14,107 (Note 7) 136,364 531,347
Paycheck protection program note payable (Note 7) 1,499,360 1,499,360
Total liabilities 11,486,085 9,842,930
Commitments and contingencies (Note 9)
Stockholders’ equity    
Common stock, $.0001 par value; 50,000,000 shares authorized; 18,502,902 and 16,684,424 shares issued and outstanding, respectively 1,850 1,668
Additional paid-in capital 40,652,472 30,758,354
Accumulated other comprehensive income 37,159 287,547
Accumulated deficit (1,720,538) (1,761,736)
Total stockholders’ equity 38,970,943 29,285,833
Total liabilities and stockholders' equity $ 50,457,028 $ 39,128,763