Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Comprehensive Loss (Unaudited)

v3.23.1
Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Revenue from Contract with Customer [Abstract]    
Net sales $ 2,876,153 $ 3,577,778
Cost of sales 2,255,339 2,776,685
Gross profit 620,814 801,093
Operating expenses:    
Selling, general and administrative 788,633 574,350
Salaries, wages and payroll taxes 588,119 635,576
Professional fees 320,930 326,213
Depreciation and amortization 161,594 99,569
Total operating expenses 1,859,276 1,635,708
Loss before other (income) expense (1,238,462) (834,615)
Interest expense 5,139 3,243
Interest earned (10,127) (4,956)
Other income (50,000)
Foreign currency exchange rate variance (28,408) 17,181
Total other (income) expense (83,396) 15,468
Loss before equity method investment (1,155,066) (850,083)
Equity in net loss of affiliate (32,164)
Net loss (1,187,230) (850,083)
Comprehensive loss:    
Net loss (1,187,230) (850,083)
Foreign currency translation adjustments (22,985) (15,330)
Comprehensive loss $ (1,210,215) $ (865,413)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS    
Weighted number of common shares outstanding – basic & diluted 14,415,458 9,166,877
Basic and diluted net loss per share $ (0.08) $ (0.09)