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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2021
Dec. 31, 2020
Current assets    
Cash and cash equivalents $ 397,713 $ 771,757
Restricted cash 800,000 800,000
Accounts receivable, net of allowance of doubtful accounts of $173,603 as of March 31, 2021 and December 31, 2020 8,646,020 9,203,334
Inventories, net 17,984,073 16,504,840
Prepaid expenses and other current assets 402,743 399,119
Total current assets 28,230,549 27,679,050
Equipment, net 646,265 455,066
Operating lease right-of-use assets, net 68,032 86,948
Goodwill 58,872 58,872
Intangible assets, net 360,963 388,629
Other assets 974,021 942,404
Total assets 30,338,702 29,610,969
Current liabilities    
Bank credit line 6,918,783 2,442,246
Accounts payable 10,049,107 11,744,834
Current maturities of government loan 60,470 65,225
Current maturities of operating lease liabilities 60,368 65,651
Accrued other expenses 4,947,257 7,465,063
Deferred revenue, current 110,218 0
Total current liabilities 22,146,203 21,783,019
Long term government loan, less current maturities 0 15,245
Operating lease liabilities, less current maturities 9,005 22,235
Deferred revenue noncurrent 154,679 0
Total liabilities 22,309,887 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: 35,362,854 shares at March 31, 2021 and 35,074,922 shares at December 31, 2020, respectively 353,628 350,749
Additional paid-in capital 65,307,650 64,526,664
Accumulated deficit (57,632,463) (57,086,943)
Total stockholders' equity 8,028,815 7,790,470
Total liabilities and stockholders' equity $ 30,338,702 $ 29,610,969