v3.20.1
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 3,038,006 $ 5,185,321
Accounts receivable, net 9,111,679 11,667,157
Inventories, net 8,984,877 7,369,356
Prepaid expenses and other current assets 840,525 453,938
Total current assets 21,975,087 24,675,772
Property and equipment, net 3,552,551 3,568,564
Deposits and other 45,133 47,146
Deferred tax assets, net 3,459,972 3,019,823
Goodwill 7,120,510 7,120,510
Intangible assets, net 1,171,667 1,346,192
Total Assets 37,324,920 39,778,007
Current liabilities    
Accounts payable 3,833,791 4,115,977
Accrued expenses and other liabilities 4,610,506 4,607,432
Current portion of notes payable, net of debt discount of $7,019 and $7,019, respectively (Note 8) 1,016,814 1,377,751
Current portion of related-party notes payable, net of debt discount of $23,060 and $23,060, respectively (Note 8) 575,422 561,441
Total current liabilities 10,036,533 10,662,601
Notes payable, net of current portion and debt discount of $292 and $2,047, respectively (Note 8) 15,722 149,301
Related-party notes payable, net of current portion and debt discount of $961 and $6,726 , respectively (Note 8) 50,686 199,943
Total liabilities 10,102,941 11,011,845
Commitments and contingencies (Notes 10 and 11)
Stockholders’ equity    
Common stock, $.0001 par value; 50,000,000 shares authorized; 16,476,661 and 16,121,747 shares issued and outstanding, respectively 1,647 1,612
Additional paid-in capital 30,144,896 30,537,015
Noncontrolling interest   500
Accumulated other comprehensive loss (73,340) (17,773)
Accumulated deficit (2,851,224) (1,755,192)
Total stockholders’ equity 27,221,979 28,766,162
Total liabilities and stockholders' equity $ 37,324,920 $ 39,778,007

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