XML 12 R2.htm IDEA: XBRL DOCUMENT v3.22.1
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets    
Cash $ 2,854,093 $ 2,822,100
Accounts receivable, net 3,155,906 2,871,932
Prepaid expenses 248,502 435,595
Inventories 1,024,345 1,174,635
Other current assets 55,744 55,159
Total current assets 7,338,590 7,359,421
Property, plant and equipment, net 7,480,390 6,930,329
Intangible assets, net 194,444 236,111
Right of use assets 18,873 20,518
Other noncurrent assets 65,880 65,880
Total assets 15,098,177 14,612,259
Current liabilities    
Accounts payable 1,245,122 1,139,091
Accrued expenses 609,991 467,462
Income tax payable 212,878 206,490
Current portion of operating lease liability 11,561 13,716
Current portion of financial obligation 67,853 65,678
Current portion of long-term debt, net of discounts 2,116,480 2,195,759
Total current liabilities 4,263,885 4,088,196
Operating lease liability 7,312 6,802
Long-term financial obligation, less current portion 4,093,686 4,112,658
Long-term debt, less current portion, net of discounts 225,396 256,675
Total liabilities 8,590,279 8,464,331
Commitments and contingencies (Note 11)  
Shareholders’ equity    
Common stock - $0.001 par value; 100,000,000 shares authorized; 28,235,001 shares issued and outstanding, respectively 28,235 28,235
Additional paid-in-capital 43,281,334 43,071,201
Accumulated deficit (36,801,671) (36,951,508)
Total shareholders’ equity 6,507,898 6,147,928
Total liabilities and shareholders’ equity $ 15,098,177 $ 14,612,259