Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

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Consolidated Balance Sheets - USD ($)
Dec. 31, 2020
Dec. 31, 2019
Current Assets    
Cash $ 184,469 $ 448,703
Accounts receivable, net 915,052 1,564,969
Inventories 537,104 676,175
Related party receivable 61,678 49,658
Prepayments and other assets 3,547,068 1,258,700
Total current assets 5,245,371 3,998,205
Non-current assets    
Property, plant, and equipment, net 129,444 165,035
Operating lease right of use assets, net 88,889 215,848
Investments 1,710,358 2,020,358
Goodwill 902,067 902,067
Other assets 84,514 106,179
Total non-current assets 2,915,272 3,409,487
Total assets 8,160,643 7,407,692
Current liabilities    
Accounts payable 653,998 3,753,862
Accrued expenses 1,798,494 1,686,841
Related party payable 24,972
Customer deposits 4,878,863 2,915,406
Related party note payable 1,000,000
Notes payable, current portion 1,854,500 2,812,709
Short-term debt, Term Loan, net 1,868,320
Short-term debt, Revolving Facility 3,403,143
Operating lease liabilities 88,889 123,395
Total current liabilities 14,546,207 12,317,185
Non-current liabilities    
Notes payable, long-term 1,020,600
Operating lease liabilities 98,841
Total non-current liabilities 1,020,600 98,841
Total liabilities 15,566,807 12,416,026
Commitments and contingencies, Note 12
Equity    
Common stock, $0.001 par value; 100,000,000 shares authorized; 4,718,714 and 4,701,552 shares issued and outstanding as of December 31, 2020 and 2019, respectively 4,719 4,702
Additional Paid in Capital 14,553,438 11,877,590
Accumulated deficit (21,964,321) (16,890,626)
Total stockholders' deficit (7,406,164) (5,008,334)
Total liabilities and stockholders' deficit $ 8,160,643 $ 7,407,692