Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations

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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Revenues, net of allowances    
Total revenues, net of allowances $ 76,271,822 $ 95,253,767
Cost of Goods Sold    
Total cost of goods sold 59,866,140 70,042,504
Gross profit 16,405,682 25,211,263
Operating expenses:    
Selling, general and administrative 56,044,334 66,189,907
Impairment of property and equipment 5,583,290
Research and development 11,996,000 11,296,948
Total operating expenses 73,623,624 77,486,855
Loss from operations (57,217,942) (52,275,592)
Other income (expense)    
Inducement expense (6,373,353)
Interest expense (1,701,113) (1,914,120)
Change in fair value of warrant and preferred investment option liability 19,381,313 16,763,205
Warrant issuance cost (538,218) (1,868,766)
Total other income 10,768,629 12,980,319
Net loss before provision for income tax (46,449,313) (39,295,273)
Provision for income tax
Net loss (46,449,313) (39,295,273)
Common stock deemed dividend (7,467,200)
Net loss attributable to common stockholders $ (46,449,313) $ (46,762,473)
Basic net loss per share attributed to common stockholders (in Dollars per share) $ (122.12) $ (461.14)
Diluted net loss per share attributed to common stockholders (in Dollars per share) $ (122.12) $ (461.14)
Weighted average number of shares outstanding - Basic (in Shares) 380,344 101,405
Weighted average number of shares outstanding - Diluted (in Shares) 380,344 101,405
Metal Goods    
Revenues, net of allowances    
Total revenues, net of allowances $ 35,452,855 $ 51,160,571
Cost of Goods Sold    
Total cost of goods sold 25,027,277 40,434,106
Soft Goods    
Revenues, net of allowances    
Total revenues, net of allowances 36,208,401 38,301,113
Cost of Goods Sold    
Total cost of goods sold 30,167,401 24,413,884
Electronic Goods    
Revenues, net of allowances    
Total revenues, net of allowances 4,610,566 5,792,083
Cost of Goods Sold    
Total cost of goods sold $ 4,671,462 $ 5,194,514