Annual report pursuant to Section 13 and 15(d)

Consolidated Statements of Operations and Comprehensive (Loss) Income

v3.22.1
Consolidated Statements of Operations and Comprehensive (Loss) Income - USD ($)
 12 Months Ended
Dec. 31, 2021
Dec. 31, 2020
Income Statement [Abstract]    
Revenue $ 45,546,791 $ 37,266,367
Costs and Expenses    
Selling expenses 36,274,752 26,109,221
General and administrative expenses 18,817,959 13,789,391
Impairment of indefinite lived assets and goodwill 17,350,628 4,900,000
Total Costs and Expenses 72,443,339 44,798,612
Loss from Operations (26,896,548) (7,532,245)
Other (Expenses) Income    
Interest expense, net (20,985) (328,663)
Amortization of debt discount (12,833) (818,182)
Change in fair value of contingent purchase consideration 11,857,558
Other income 227,788 165,375
Other expense (49,967) (86,933)
Loss on extinguishment of convertible debt (719,390)
(Loss) gain on marketable securities (460,000) 290,000
Total Other Income (Expenses) 11,541,561 (1,497,793)
Loss Before income taxes (15,354,987) (9,030,038)
Income tax benefit (provision) 290,476 (906,644)
Net Loss (15,064,511) (9,936,682)
Other Comprehensive Loss    
Foreign currency translation adjustment (519,031) 444,665
Comprehensive Loss $ (15,583,542) $ (9,492,017)
Loss per common share - basic and diluted $ (0.67) $ (0.71)
Weighted average number of common shares outstanding - basic and diluted 22,500,716 14,047,725