Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets

v3.22.2.2
Condensed Consolidated Balance Sheets - USD ($)
Jun. 30, 2022
Dec. 31, 2021
Current assets:    
Cash $ 20,467,722 $ 17,267,978
Accounts receivable, net 344,915 349,836
Inventory 1,370,425 1,019,696
Unbilled revenue 120,816 100,422
VAT receivable 459,541 491,417
Prepaid expenses – current portion 64,523 97,068
Other current assets 2,873 48,539
Total current assets 22,830,815 19,374,956
Property and equipment, net 1,243,631 1,042,859
Right of use 909,908 22,643
Intangible assets, net 62,500 75,000
Prepaid expenses – long term portion 42,424 49,867
Total assets 25,089,278 20,565,325
Current liabilities:    
Accounts payable and accrued liabilities 1,085,698 1,063,344
Contract liabilities 27,110 36,765
Note payable Coronavirus loans– current portion 60,825 56,391
Due to related party 35,308
Lease liabilities - current 203,561 19,763
Provision for income taxes 16,876 56,781
Stock subscription payable 1,400,000
Liabilities from discontinued operations 112,397 112,397
Total current liabilities 1,506,467 2,780,749
Long term liabilities:    
Note payable Coronavirus loans– long term 187,544 253,757
Lease liabilities - long term 696,426
Total Liabilities 2,390,437 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 June 30, 2022 and 7,053,146 outstanding at December 31, 2021, respectively) 929 705
Additional paid-in capital 47,206,953 39,513,093
Accumulated (deficit) (24,492,159) (21,986,215)
Accumulated other comprehensive income (loss) (16,882) 3,236
Total stockholders’ equity 22,698,841 17,530,819
Total liabilities and stockholders’ equity $ 25,089,278 $ 20,565,325