Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.22.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current Assets    
Cash $ 17,267,978 $ 728,762
Accounts receivable, net 349,836 177,031
Inventory 1,019,696 361,422
Unbilled revenue 100,422 75,556
VAT receivable 491,417
Prepaid expenses – current portion 97,068 1,784
Other current assets 48,539 27,912
Total Current Assets 19,374,956 1,372,467
Property and equipment, net 1,042,859 1,106,164
Right to use 22,643 55,606
Intangible Assets, net 75,000 100,000
Prepaid expenses – long term portion 49,867
Total Assets 20,565,325 2,634,237
Current Liabilities    
Accounts payable and accrued expenses 1,063,344 1,052,603
Contract liabilities 36,765 36,704
Note payable – current portion 121,848
Note payable Coronavirus loans– current portion 56,391 41,831
Due to related party 35,308 102,060
Line of credit
Operating lease liabilities - current 19,763 30,125
Provision for income taxes 56,781 18,957
Stock subscription payable 1,400,000
Liabilities from discontinued operations 112,397 112,397
Total Current Liabilities 2,780,749 1,516,525
Long Term Liabilities:    
Convertible debt, net of discount, unamortized $0 and $1,084,944 209,323
Notes payable Coronavirus – long term 253,757 320,626
Operating lease liabilities – long term 22,574
Total Liabilities 3,034,506 2,069,048
Stockholders’ Equity    
Preferred stock, $0.0001 par value; 3,333,333 shares authorized
Common stock, $0.0001 par value; 50,000,000 shares authorized, 7,053,146 shares issued and outstanding as of December 31, 2021, and 817,450 issued and outstanding at December 31, 2020, respectively 705 82
Additional paid-in capital 39,513,093 14,486,492
Accumulated deficit (21,986,215) (13,878,553)
Accumulated other comprehensive income (loss) 3,236 (42,832)
Total Stockholders’ Equity 17,530,819 565,189
Total Liabilities and Stockholders’ Equity $ 20,565,325 $ 2,634,237