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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
Current    
Cash $ 6,115,099 $ 5,710,227
Term deposits 700,000 1,025,347
Accounts receivable (Note 4) 9,449,857 7,129,329
Inventories (Note 5) 14,419,430 9,502,005
Prepaid expenses 310,297 442,161
Total current assets 30,994,683 23,809,069
Property, equipment and leaseholds, net (Note 6) 9,709,288 4,931,713
Patents (Note 7) 13,699
Right of use assets (Note 3) 167,222 217,267
Intangible assets (Note 8) 2,440,000 2,600,000
Long term deposits (Note 9) 8,540 8,540
Investments (Note 10) 5,458,895 5,424,010
Goodwill (Note 8) 2,534,275 2,534,275
Deferred tax asset (Note 13) 274,289 12,697
Total Assets 51,587,192 39,551,270
Current    
Accounts payable 873,904 1,283,486
Accrued liabilities 959,856 457,062
Deferred revenue 387,763 349,004
Income taxes payable 4,486,350 4,561,396
Short term line of credit (Note 11) 2,818,591 2,300,819
Current portion of lease liability (Note 3) 58,080 77,715
Current portion of long term debt (Note 12) 717,612 793,574
Total current liabilities 10,302,156 9,823,056
Lease liability (Note 3) 109,142 139,552
Deferred income tax liability (Note 13) 500,459 310,162
Long term debt (Note 12) 5,436,465 1,573,024
Total Liabilities 16,348,222 11,845,794
Stockholders’ Equity    
Capital stock (Note 16) 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: 12,426,260 (2021: 12,355,246) common shares 12,426 12,355
Capital in excess of par value 17,523,345 16,983,648
Other comprehensive loss (805,799) (775,730)
Accumulated earnings 15,903,964 8,882,360
Total stockholders’ equity – controlling interest 32,633,936 25,102,633
Non-controlling interests (Note 17) 2,605,034 2,602,843
Total Stockholders’ Equity 35,238,970 27,705,476
Total Liabilities and Stockholders’ Equity $ 51,587,192 $ 39,551,270