Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.1
Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2022
Dec. 31, 2021
Current assets:    
Cash $ 21,907,935 $ 17,267,978
Accounts receivable, net 420,143 349,836
Inventory 1,473,192 1,019,696
Unbilled revenue 92,144 100,422
VAT receivable 458,373 491,417
Prepaid expenses – current portion 123,300 97,068
Other current assets 48,539
Total current assets 24,475,087 19,374,956
Property and equipment, net 1,025,196 1,042,859
Right of use 13,840 22,643
Intangible assets, net 68,750 75,000
Prepaid expenses – long term portion 49,650 49,867
Total assets 25,632,523 20,565,325
Current liabilities:    
Accounts payable and accrued liabilities 1,415,545 1,063,344
Contract liabilities 30,364 36,765
Note payable Coronavirus loans– current portion 65,690 56,391
Due to related party 55,045 35,308
Lease liabilities - current 11,045 19,763
Provision for income taxes 18,226 56,781
Stock subscription payable 1,400,000
Liabilities from discontinued operations 112,397 112,397
Total current liabilities 1,708,312 2,780,749
Long term liabilities:    
Note payable Coronavirus loans– long term 218,967 253,757
Total Liabilities 1,927,279 3,034,506
Stockholders’ Equity:    
Preferred Stock, $0.0001 par value; 3,333,333 shares authorized
Common stock, ($0.0001 par value; 50,000,000 shares authorized, 9,293,096 shares issued and outstanding as of March 31, 2022 and 7,053,146 outstanding at December 31, 2021, respectively) 929 705
Additional paid-in capital 46,552,707 39,513,093
Accumulated (deficit) (22,836,298) (21,986,215)
Accumulated other comprehensive income (loss) (12,094) 3,236
Total stockholders’ equity 23,705,244 17,530,819
Total liabilities and stockholders’ equity $ 25,632,523 $ 20,565,325