v3.21.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current assets    
Cash and cash equivalents $ 6,316,921 $ 5,185,321
Accounts receivable, net 7,458,383 11,667,157
Inventories, net 9,647,504 7,369,356
Prepaid expenses and other current assets 655,708 453,938
Total current assets 24,078,516 24,675,772
Property and equipment, net 3,487,178 3,568,564
Deposits and other 81,709 47,146
Deferred tax assets, net 3,698,593 3,019,823
Goodwill 7,120,510 7,120,510
Intangible assets, net 662,257 1,346,192
Total Assets 39,128,763 39,778,007
Current liabilities    
Accounts payable 976,420 4,115,977
Accrued expenses and other liabilities 3,481,444 4,607,432
Current portion of notes payable, net of debt discount of $2,047 and $7,019, respectively (Note 8) 1,365,204 1,377,751
Current portion of related-party notes payable, net of debt discount of $6,726 and $23,060, respectively (Note 8) 199,943 561,441
Current portion of senior secured convertible note, net of debt discounts of $256,242 (Note 8) 1,789,212  
Total current liabilities 7,812,223 10,662,601
Notes payable, net of current portion and debt discount of $0 and $2,047, respectively (Note 8)   149,301
Related-party notes payable, net of current portion and debt discount of $0 and $6,726, respectively (Note 8)   199,943
Senior secured convertible note, net of current portion and debt discounts of $14,107 (Note 8) 531,347  
Paycheck protection program note payable (Note 8) 1,499,360  
Total liabilities 9,842,930 11,011,845
Commitments and contingencies (Note 11)
Stockholders’ equity    
Common stock, $.0001 par value; 50,000,000 shares authorized; 16,684,424 and 16,121,747 shares issued and outstanding, respectively 1,668 1,612
Additional paid-in capital 30,758,354 30,537,015
Noncontrolling interest   500
Accumulated other comprehensive income (loss) 287,547 (17,773)
Accumulated deficit (1,761,736) (1,755,192)
Total stockholders’ equity 29,285,833 28,766,162
Total liabilities and stockholders' equity $ 39,128,763 $ 39,778,007

Source