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CONSOLIDATED BALANCE SHEETS - USD ($)
Dec. 31, 2023
Dec. 31, 2022
Current assets:    
Cash and cash equivalents $ 29,375,727 $ 153,966,777
Restricted cash 196,170 130,024
Short-term investment 4,236,588 0
Accounts receivable, net 6,530,801 565,398
Inventories 43,909,564 31,843,371
Prepayment and other current assets 20,391,150 16,138,330
Amounts due from related parties - current $ 287,439 $ 366,936
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] us-gaap:RelatedPartyMember us-gaap:RelatedPartyMember
Total current assets $ 104,927,439 $ 203,010,836
Non-current assets:    
long-term investments 4,685,984 5,325,741
Investment in equity securities 26,158,474 29,759,195
Property, plant and equipment, net 20,401,521 14,962,591
Goodwill 223,494 0
Intangible assets, net 6,873,781 4,563,792
Right-of-use assets 20,039,625 8,187,149
Other non-current assets, net 2,227,672 2,039,012
Total non-current assets 80,610,551 64,837,480
Total Assets 185,537,990 267,848,316
Current liabilities:    
Accounts payable 6,797,852 3,383,021
Accrued expenses and other current liabilities 4,263,887 5,048,641
Contractual liabilities 3,394,044 2,388,480
Operating lease liabilities, current 4,741,599 1,313,334
Convertible promissory notes 9,956,000 57,372,827
contingent liabilities 26,669 0
Deferred government grant, current 108,717 26,533
Amounts due to related parties $ 10,468 $ 716,372
Other Liability, Current, Related and Nonrelated Party Status [Extensible Enumeration] us-gaap:RelatedPartyMember us-gaap:RelatedPartyMember
Total current liabilities $ 29,299,236 $ 70,249,208
Non-current liabilities:    
Contingent liabilities non-current 230,063 0
Deferred tax liabilities 228,086 0
Deferred government grant, non-current 1,929,733 497,484
Derivative liability - investor warrant 12,189,508 14,334,104
Derivative liability - placement agent warrant 3,456,578 3,456,404
Operating lease liabilities, non-current 16,339,619 7,421,582
Total non-current liabilities 34,373,587 25,709,574
Total Liabilities 63,672,823 95,958,782
Commitments and contingencies
EQUITY    
Ordinary shares (No par value; 30,828,778 and 30,084,200 shares issued and outstanding as of December 31, 2023 and 2022, respectively) 0 0
Additional paid in capital 402,337,393 397,497,817
Accumulated deficit (274,023,501) (219,824,176)
Accumulated other comprehensive loss (6,444,485) (5,306,972)
Total equity attributable to shareholders 121,869,407 172,366,669
Non-controlling interests (4,240) (477,135)
Total Equity 121,865,167 171,889,534
Total Liabilities and Equity $ 185,537,990 $ 267,848,316