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UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)
3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS [Abstract]    
Net revenues $ 3,391,999 $ 3,470,544
Cost of goods sold (3,377,728) (3,275,800)
Gross profit 14,271 194,744
OPERATING EXPENSES:    
Selling and marketing expenses (1,316,763) (1,868,985)
General and administrative expenses (6,361,196) (7,358,264)
Research and development expenses (1,727,830) (1,569,919)
Total operating expenses (9,405,789) (10,797,168)
Loss from operations (9,391,518) (10,602,424)
OTHER EXPENSE:    
Interest income (expense), net 73,242 (54,415)
(Loss) income from long-term investment (13,520) 19,042
Impairment of long-term investment 0 (1,146,128)
Loss on redemption of convertible promissory notes 0 (2,001)
Loss on exercise of warrants 0 (212,870)
Change in fair value of convertible promissory notes and derivative liability (705) (126,273)
Change in fair value of equity securities 234,887 653,016
Foreign currency exchange loss, net (359,217) 0
Gain from cross-currency swaps 5,933 0
Other income, net 190,643 358,076
Loss before income taxes (9,260,255) (11,113,977)
Income tax benefit 30,032 0
Net loss (9,230,223) (11,113,977)
Less: net loss attributable to non-controlling interests (72) (156,028)
Net loss attributable to the Company's shareholders (9,230,151) (10,957,949)
OTHER COMPREHENSIVE LOSS    
Foreign currency translation adjustment (1,001,245) 337,278
Total comprehensive loss (10,231,468) (10,776,699)
Less: total comprehensive loss attributable to non-controlling interests (144) (180,595)
Total comprehensive loss to the Company's shareholders $ (10,231,324) $ (10,596,104)
Weighted average number of shares outstanding, basic (in shares) [1] 30,828,794 30,309,574
Weighted average number of shares outstanding, diluted (in shares) [1] 30,828,794 30,309,574
Loss per share, basic (in dollars per share) $ (0.3) $ (0.36)
Loss per share, diluted (in dollars per share) $ (0.3) $ (0.36)
[1] On September 1, 2023 the Company held its annual general meeting of shareholders where among other proposals, the shareholders of the Company did approve the consolidation of the ordinary shares of the Company on a one-for-ten (1:10) basis with effect from December 8, 2023. The one-for-ten reverse stock split decreased the number of outstanding shares and increased net loss per common share. All per share and share amounts presented have been retroactively adjusted for the effect of this share consolidation for all periods presented.On September 1, 2023 the Company held its annual general meeting of shareholders where among other proposals, the shareholders of the Company did approve the consolidation of the ordinary shares of the Company on a one-for-ten (1:10) basis with effect from December 8, 2023. The one-for-ten reverse stock split decreased the number of outstanding shares and increased net loss per common share. All per share and share amounts presented have been retroactively adjusted for the effect of this share consolidation for all periods presented.