XML 15 R4.htm IDEA: XBRL DOCUMENT v3.20.2
Unaudited Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Revenue $ 8,254,941 $ 11,015,057 $ 17,857,469 $ 21,701,253
Cost of revenue 6,436,811 8,632,882 14,157,773 17,179,114
Gross profit 1,818,130 2,382,175 3,699,696 4,522,139
Operating expenses        
Selling, General and administration 2,470,723 3,296,041 5,395,241 6,173,350
Depreciation and amortization 533,863 562,570 1,093,486 1,123,587
Operating expenses 3,004,586 3,858,611 6,488,727 7,296,937
Operating Income (loss) (1,186,456) (1,476,436) (2,789,031) (2,774,798)
Interest expenses (372,288) (156,660) (532,348) (299,214)
Changes in fair value of warrant liability 388,552 (61,715)
Others, net 2,811 4,566 2,811 4,566
Income (loss) before income taxes (1,555,933) (1,239,978) (3,318,568) (3,131,161)
Income tax benefit(expenses) (17,485) (16,590) (39,377) 14,621
Income (loss) after income taxes (1,573,418) (1,256,568) (3,357,945) (3,116,540)
Net Income (loss) attributable to the Company (1,573,418) (1,256,568) (3,357,945) (3,116,540)
Dividend on preferred stock (107,835) (106,234) (215,670) (211,939)
Net Income (loss) attributable to common stock holders (1,681,253) (1,362,802) (3,573,615) (3,328,479)
Other comprehensive income (loss), net of tax        
Foreign exchange translation 15,354 (18,141) (20,149) 573
Total Comprehensive Income (loss) $ (1,665,899) $ (1,380,943) $ (3,593,764) $ (3,327,906)
Basic income (loss) per share $ (0.48) $ (0.67) $ (1.03) $ (1.73)
Diluted income (loss) per share $ (0.48) $ (0.67) $ (1.03) $ (1.73)
Basic weighted average number of common shares outstanding 3,518,118 2,027,095 3,482,286 1,925,009
Diluted weighted average number of common shares outstanding 3,518,118 2,027,095 3,482,286 1,925,009