v3.20.2
UNAUDITED CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 4,654,602 $ 5,185,321
Accounts receivable, net 10,454,051 11,667,157
Inventories, net 8,924,435 7,369,356
Prepaid expenses and other current assets 604,742 453,938
Total current assets 24,637,830 24,675,772
Property and equipment, net 3,554,648 3,568,564
Deposits and other 81,710 47,146
Deferred tax assets, net 3,975,599 3,019,823
Goodwill 7,120,510 7,120,510
Intangible assets, net 997,141 1,346,192
Total Assets 40,367,438 39,778,007
Current liabilities    
Accounts payable 3,018,133 4,115,977
Accrued expenses and other liabilities 4,162,857 4,607,432
Current portion of notes payable, net of debt discount of $5,556 and $7,019, respectively (Note 7) 1,494,833 1,377,751
Current portion of related-party notes payable, net of debt discount of $18,256 and $23,060, respectively (Note 7) 487,595 561,441
Senior secured convertible note, net of discounts of $407,244 (Note 7) 1,092,756  
Total current liabilities 10,256,174 10,662,601
Notes payable, net of current portion and debt discount of $0 and $2,047, respectively (Note 7)   149,301
Related-party notes payable, net of current portion and debt discount of $0 and $6,726 , respectively (Note 7)   199,943
Senior secured convertible note, net of discounts of $108,082 (Note 7) 1,255,554  
Paycheck protection plan note payable (Note 7) 1,499,360  
Total liabilities 13,011,088 11,011,845
Commitments and contingencies (Note 9)
Stockholders’ equity    
Common stock, $.0001 par value; 50,000,000 shares authorized; 16,498,617 and 16,121,747 shares issued and outstanding, respectively 1,649 1,612
Additional paid-in capital 30,223,985 30,537,015
Noncontrolling interest   500
Accumulated other comprehensive loss (5,898) (17,773)
Accumulated deficit (2,863,386) (1,755,192)
Total stockholders’ equity 27,356,350 28,766,162
Total liabilities and stockholders' equity $ 40,367,438 $ 39,778,007

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