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CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Mar. 31, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 20,255,568 $ 29,375,727
Restricted cash 329,185 196,170
Short-term investment 4,195,117 4,236,588
Accounts receivable, net 4,576,963 6,530,801
Inventories, net 43,768,940 43,909,564
Prepayment and other current assets 21,337,298 20,391,150
Amounts due from related parties - current $ 270,262 $ 287,439
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] us-gaap:RelatedPartyMember us-gaap:RelatedPartyMember
Total current assets $ 94,733,333 $ 104,927,439
Non-current assets:    
Long-term investments 4,580,164 4,685,984
Investment in equity securities 25,819,920 26,158,474
Property, plant and equipment, net 20,195,719 20,401,521
Goodwill 218,019 223,494
Intangible assets, net 6,643,051 6,873,781
Right-of-use assets, net 18,711,452 20,039,625
Other non-current assets 2,133,839 2,227,672
Total non-current assets 78,302,164 80,610,551
Total Assets 173,035,497 185,537,990
Current liabilities:    
Accounts payable 6,558,147 6,797,852
Accrued expenses and other current liabilities 3,453,089 4,263,887
Contract liabilities 2,664,191 3,394,044
Operating lease liabilities, current 4,471,010 4,741,599
Convertible promissory notes 9,958,000 9,956,000
Contingent liabilities, current 26,015 26,669
Deferred government grant, current 106,904 108,717
Amounts due to related parties $ 0 $ 10,468
Other Liability, Current, Related Party, Type [Extensible Enumeration] us-gaap:RelatedPartyMember us-gaap:RelatedPartyMember
Total current liabilities $ 27,237,356 $ 29,299,236
Non-current liabilities:    
Contingent liabilities, non-current 224,427 230,063
Deferred tax liabilities 210,579 228,086
Deferred government grant, non-current 1,870,828 1,929,733
Derivative liability - investor warrant 12,188,515 12,189,508
Derivative liability - placement agent warrant 3,456,277 3,456,578
Operating lease liabilities, non-current 15,307,489 16,339,619
Total non-current liabilities 33,258,115 34,373,587
Total Liabilities 60,495,471 63,672,823
Commitments and contingencies
EQUITY    
Ordinary shares (No par value; 30,828,795 and 30,828,778 shares issued and outstanding as of March 31, 2024 and December 31, 2023, respectively) 0 0
Additional paid in capital 403,243,720 402,337,393
Accumulated deficit (283,253,652) (274,023,501)
Accumulated other comprehensive loss (7,445,658) (6,444,485)
Total equity attributable to shareholders 112,544,410 121,869,407
Non-controlling interests (4,384) (4,240)
Total Equity 112,540,026 121,865,167
Total Liabilities and Equity $ 173,035,497 $ 185,537,990