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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2024
Jun. 30, 2023
Jun. 30, 2024
Jun. 30, 2023
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS        
REVENUE $ 13,206,717 $ 12,363,429 $ 27,791,190 $ 24,713,206
COST OF GOODS SOLD 12,439,469 11,416,595 25,690,316 22,809,295
GROSS PROFIT 767,248 946,834 2,100,874 1,903,911
OPERATING EXPENSES        
General and administrative expenses 1,390,525 2,000,151 2,808,663 4,089,165
Salaries and wages 1,454,862 1,077,672 2,713,041 2,027,123
Sales and marketing expenses 110,813 318,061 284,443 785,324
Depreciation and amortization expense 313,074 127,415 632,861 229,936
TOTAL OPERATING EXPENSES 3,269,274 3,523,299 6,439,008 7,131,548
LOSS FROM OPERATIONS (2,502,026) (2,576,465) (4,338,134) (5,227,637)
OTHER INCOME (EXPENSE)        
Other income (expense), net (29,305) (34,477) 162,519 (28,734)
Interest expense (342,446) (244,135) (511,118) (378,508)
Interest income 102,030 261,269 207,795 444,685
Gain on equity investments, net 335 2,676 2,090 3,969
Gain on extinguishment of debt 0 2,257 0 1,910,770
Change in fair value of derivative liability 0 0 0 3,384
Bargain purchase gain 0 1,633,842 0 1,633,842
Foreign currency transaction, net 180,701 66,674 19,447 262,709
TOTAL OTHER INCOME (EXPENSE), NET (88,685) 1,688,106 (119,267) 3,852,117
LOSS BEFORE INCOME TAXES (2,590,711) (888,359) (4,457,401) (1,375,520)
INCOME TAX EXPENSE 0 (93,171) 0 (65,873)
NET LOSS (2,590,711) (981,530) (4,457,401) (1,441,393)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS (2,590,711) (981,530) (4,457,401) (1,441,393)
Foreign currency translation adjustment, net (176,591) 83,188 (775,867) 419,651
TOTAL COMPREHENSIVE LOSS $ (2,767,302) $ (898,342) $ (5,233,268) $ (1,021,742)
BASIC NET LOSS PER SHARE $ (0.15) $ (0.09) $ (0.26) $ (0.13)
DILUTED NET LOSS PER SHARE $ (0.15) $ (0.09) $ (0.26) $ (0.13)
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING        
Basic 17,834,023 10,819,645 17,025,203 10,718,010
Diluted 17,834,023 10,819,645 17,025,203 10,718,010