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Consolidated Balance Sheets - USD ($)
Jun. 30, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 812,373 $ 771,757
Restricted cash 750,000 800,000
Accounts receivable, net of allowance of doubtful accounts of $173,603 as of June 30, 2021 and December 31, 2020 9,254,845 9,203,334
Inventories, net 19,579,030 16,504,840
Prepaid expenses and other current assets 304,455 399,119
Total current assets 30,700,703 27,679,050
Equipment, net 633,662 455,066
Operating lease right-of-use assets, net 91,179 86,948
Goodwill 58,872 58,872
Intangible assets, net 332,963 388,629
Other assets 845,855 942,404
Total assets 32,663,234 29,610,969
Current liabilities    
Bank credit line 7,228,672 2,442,246
Accounts payable 12,204,708 11,744,834
Current maturities of government loan 60,470 65,225
Current maturities of operating lease liabilities 92,654 65,651
Accrued expenses 5,045,579 7,465,063
Deferred revenue, current 349,961
Total current liabilities 24,982,044 21,783,019
Long term government loan, less current maturities 15,245
Operating lease liabilities, less current maturities 22,235
Deferred revenue, noncurrent 652,899
Total Liabilities 25,634,943 21,820,499
Commitments and Contingencies (Note 6)
Stockholders’ equity    
Common Stock: Authorized: 40,000,000 shares at $0.01 par value; issued and outstanding: 35,631,239 shares at June 30, 2021 and 35,074,922 shares at December 31, 2020, respectively 356,350 350,749
Additional paid-in capital 65,858,315 64,526,664
Accumulated deficit (59,186,374) (57,086,943)
Total stockholders’ equity 7,028,291 7,790,470
Total liabilities and stockholders’ equity $ 32,663,234 $ 29,610,969