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Condensed Interim Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current    
Cash and cash equivalents $ 5,530,178 $ 6,115,099
Term deposits 1,000,000 700,000
Accounts receivable, net (Note 4) 10,833,527 9,449,857
Inventories (Note 5) 14,379,823 14,419,430
Prepaid expenses 331,794 310,297
Total current assets 32,075,322 30,994,683
Property, equipment and leaseholds, net (Note 6) 9,619,538 9,709,288
Right of use assets (Note 3) 154,447 167,222
Intangible assets (Note 8) 2,400,000 2,440,000
Long term deposits (Note 9) 351,287 8,540
Investments (Note 10) 5,528,890 5,458,895
Goodwill (Note 8) 2,534,275 2,534,275
Deferred tax asset 274,289 274,289
Total Assets 52,938,048 51,587,192
Liabilities    
Accounts payable 1,473,180 873,904
Accrued liabilities 181,430 959,856
Deferred revenue 114,540 387,763
Income taxes payable 4,638,927 4,486,350
Short term line of credit (Note 11) 3,663,504 2,818,591
Current portion of lease liability (Note 3) 58,440 58,080
Current portion of long term debt (Note 12) 719,607 717,612
Total current liabilities 10,849,628 10,302,156
Lease liability (Note 3) 96,007 109,142
Deferred income tax liability 500,459 500,459
Long term debt (Note 12) 5,256,831 5,436,465
Total Liabilities 16,702,925 16,348,222
Stockholders’ Equity    
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: 12,435,532 (December 31, 2022: 12,426,260) common shares 12,436 12,426
Capital in excess of par value 17,722,233 17,523,345
Other comprehensive loss (973,038) (805,799)
Accumulated earnings 16,788,333 15,903,964
Total stockholders’ equity – controlling interest 33,549,964 32,633,936
Non-controlling interests (Note 15) 2,685,159 2,605,034
Total Stockholders’ Equity 36,235,123 35,238,970
Total Liabilities and Stockholders’ Equity $ 52,938,048 $ 51,587,192