Annual report pursuant to Section 13 and 15(d)

Consolidated Balance Sheets

v3.20.1
Consolidated Balance Sheets - USD ($)
Dec. 31, 2019
Dec. 31, 2018
Current assets:    
Cash $ 12,979,444 $ 14,639,981
Accounts receivable, net of allowance for doubtful accounts of $291,372 and $133,288 at December 31, 2019 and 2018 4,455,209 862,397
Inventory 22,659,357 8,869,469
Prepaids and other current assets 2,549,559 606,037
Total current assets 42,643,569 24,977,884
Property and equipment, net 3,340,616 1,820,821
Operating leases right-of-use assets, net 7,628,591  
Intangible assets, net 233,280 114,155
Goodwill 17,798,932 8,752,909
Other assets 377,364 227,205
TOTAL ASSETS 72,022,352 35,892,974
Current liabilities:    
Accounts payable 6,024,750 1,819,411
Accrued liabilities 40,151
Payroll and payroll tax liabilities 1,072,142 410,345
Customer deposits 2,503,785 516,038
Sales tax payable 533,656 191,958
Current maturities of right-of-use assets 1,836,700
Current portion of long-term debt 110,231 436,813
Total current liabilities 12,081,264 3,414,716
Long-term convertible debt, net of debt discount and debt issuance costs 2,044,113
Operating leases right-of-use assets, net of current maturities 5,807,266
Long-term debt, net of current portion 242,079 375,626
Total liabilities 18,130,609 5,834,455
Commitments and contingencies
Stockholders' Equity:    
Common stock; $.001 par value; 100,000,000 shares authorized; 36,876,305 and 27,948,609 shares issued and outstanding as of December 31, 2019 and 2018, respectively 36,876 27,949
Additional paid-in capital 60,742,055 38,796,562
Accumulated deficit (6,887,188) (8,765,992)
Total stockholders' equity 53,891,743 30,058,519
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 72,022,352 $ 35,892,974