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Condensed Interim Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Current      
Cash and cash equivalents $ 5,371,608 $ 5,710,227 $ 3,472,776
Term deposits 1,025,347 1,025,347 1,000,000
Accounts receivable (Note 4) 9,943,148 7,129,329 5,889,813
Inventories (Note 5) 12,214,651 9,502,005 8,372,476
Prepaid expenses 859,922 442,161 302,447
Total current assets 29,414,676 23,809,069 19,037,512
Property, equipment and leaseholds, net (Note 6) 4,920,019 4,931,713 5,142,041
Patents (Note 7) 9,589 13,699 30,137
Right of use assets (Note 3) 203,721 217,267 483,113
Intangible assets (Note 8) 2,560,000 2,600,000 2,776,000
Long term deposits (Note 9) 8,540 8,540 8,540
Investments (Note 10) 5,453,274 5,424,010 4,776,167
Goodwill (Note 8) 2,534,275 2,534,275 2,534,275
Deferred tax asset 12,697 12,697 299,603
Total Assets 45,116,791 39,551,270 35,087,388
Current      
Accounts payable 1,362,779 1,283,486 558,105
Accrued liabilities 1,318,503 457,062 1,225,804
Deferred revenue 271,426 349,004 314,277
Income taxes payable 5,273,842 4,561,396 2,540,348
Short term line of credit (Note 11) 4,948,545 2,300,819 2,116,073
Current portion of lease liability (Note 3) 57,045 77,715 287,900
Current portion of long term debt (Note 12) 665,614 793,574 848,794
Total current liabilities 13,897,754 9,823,056 7,891,301
Lease liability (Note 3) 146,676 139,552 195,213
Deferred income tax liability 310,162 310,162 233,751
Long term debt (Note 12) 1,491,355 1,573,024 2,998,844
Total Liabilities 15,845,947 11,845,794 11,319,109
Stockholders’ Equity      
Capital stock (Note 14) Authorized: 50,000,000 common shares with a par value of $0.001 each; 1,000,000 preferred shares with a par value of $0.01 each Issued and outstanding: 12,377,746 (December 31, 2021: 12,355,246) common shares 12,378 12,355 12,261
Capital in excess of par value 17,094,836 16,983,648 16,633,190
Other comprehensive loss (733,187) (775,730) (872,121)
Accumulated earnings 10,415,419 8,882,360 5,433,198
Total stockholders’ equity – controlling interest 26,789,446 25,102,633 21,206,528
Non-controlling interests (Note 15) 2,481,398 2,602,843 2,561,751
Total Stockholders’ Equity 29,270,844 27,705,476 23,768,279
Total Liabilities and Stockholders’ Equity $ 45,116,791 $ 39,551,270 $ 35,087,388