v3.21.1
Consolidated Statements of Operations and Comprehensive Loss - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Income Statement [Abstract]    
Net sales $ 5,689,796 $ 5,869,558
Cost of sales 4,464,476 4,646,180
Gross profit 1,225,320 1,223,378
Operating expenses:    
Selling, general and administrative 694,361 761,237
Salaries, wages and payroll taxes 769,391 732,498
Stock-based compensation 830,900
Professional fees 669,622 565,643
Depreciation and amortization 294,926 275,328
Total operating expenses 3,259,200 2,334,706
Loss from other expenses and income taxes (2,033,880) (1,111,328)
Other (income) expense:    
Interest earned (115) (1,616)
Interest expense 1,022,024 293,495
Foreign currency exchange rate variance 2,447 40,802
Gain on debt extinguishment (269,261) (134,677)
Change in fair value of derivative instruments, net 69,677
Other income (32,165)
Other expenses 6,565
Total other expense 729,495 267,681
Loss before provision for income taxes (2,763,375) (1,379,009)
Provision for income taxes 747
Net loss (2,763,375) (1,379,756)
Comprehensive loss:    
Net loss (2,763,375) (1,379,756)
Foreign currency translation adjustments (40,680) 4,020
Comprehensive loss $ (2,804,055) $ (1,375,736)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS    
Weighted number of common shares outstanding - basic & diluted 1,339,537 106,175
Basic and diluted net (loss) per share $ (2.06) $ (13.00)

Source