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UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)
Sep. 30, 2024
Dec. 31, 2023
Current assets:    
Cash and cash equivalents $ 21,822,485 $ 29,375,727
Restricted cash 1,009,263 196,170
Short-term investment 9,647 4,236,588
Accounts receivable, net 4,556,857 6,530,801
Inventories 35,882,436 43,909,564
Prepayment and other current assets 20,971,578 20,391,150
Amounts due from related parties - current $ 524,892 $ 287,439
Other Receivable, after Allowance for Credit Loss, Current, Related Party, Type [Extensible Enumeration] us-gaap:RelatedPartyMember us-gaap:RelatedPartyMember
Total current assets $ 84,777,158 $ 104,927,439
Non-current assets:    
Long-term investment, net 4,078,386 4,685,984
Investment in equity securities 26,341,901 26,158,474
Property, plant and equipment, net 20,175,445 20,401,521
Goodwill 225,171 223,494
Intangible assets, net 6,623,871 6,873,781
Right-of-use assets 16,049,893 20,039,625
Other non-current assets, net 1,563,361 2,227,672
Total non-current assets 75,058,028 80,610,551
Total Assets 159,835,186 185,537,990
Current liabilities:    
Accounts payable 6,164,060 6,797,852
Short-term loans and current portion of long-term loans 262,836 0
Accrued expenses and other current liabilities 5,349,282 4,263,887
Contractual liabilities 4,958,315 3,394,044
Operating lease liabilities, current 4,605,336 4,741,599
Convertible promissory notes 9,952,000 9,956,000
Contingent liabilities 45,333 26,669
Deferred government grant, current 104,076 108,717
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 $ 31,441,238 $ 29,299,236
Non-current liabilities:    
Long-term loans 361,400 0
Contingent liabilities, non-current 213,326 230,063
Deferred tax liabilities 196,887 228,086
Deferred government grant, non-current 1,875,786 1,929,733
Derivative liability - investor warrant 12,141,241 12,189,508
Derivative liability - placement agent warrant 3,457,052 3,456,578
Operating lease liabilities, non-current 13,288,324 16,339,619
Total non-current liabilities 31,534,016 34,373,587
Total Liabilities 62,975,254 63,672,823
Commitments and contingencies
EQUITY    
Common stock (No par value;30,866,614 and 30,828,778 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively) 0 0
Additional paid in capital 405,029,683 402,337,393
Accumulated deficit (301,408,251) (274,023,501)
Accumulated other comprehensive loss (6,913,396) (6,444,485)
Total equity attributable to shareholders 96,708,036 121,869,407
Non-controlling interests 151,896 (4,240)
Total Equity 96,859,932 121,865,167
Total Liabilities and Equity $ 159,835,186 $ 185,537,990