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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
Current    
Cash $ 5,710,227 $ 3,472,776
Term deposits 1,025,347 1,000,000
Accounts receivable (Note 4) 7,129,329 5,889,813
Inventories (Note 5) 9,502,005 8,372,476
Prepaid expenses 442,161 302,447
Total current assets 23,809,069 19,037,512
Property, equipment and leaseholds, net (Note 6) 4,931,713 5,142,041
Patents (Note 7) 13,699 30,137
Right of use assets (Note 3) 217,267 483,113
Intangible assets (Note 8) 2,600,000 2,776,000
Long term deposits (Note 9) 8,540 8,540
Investments (Note 10) 5,424,010 4,776,167
Goodwill (Note 8) 2,534,275 2,534,275
Deferred tax asset (Note 14) 12,697 299,603
Total Assets 39,551,270 35,087,388
Current    
Accounts payable 1,283,486 558,105
Accrued liabilities 457,062 1,225,804
Deferred revenue 349,004 314,277
Income taxes payable 4,561,396 2,540,348
Short term line of credit (Note 11) 2,300,819 2,116,073
Current portion of lease liability (Note 3) 77,715 287,900
Current portion of long term debt (Note 12) 793,574 848,794
Total current liabilities 9,823,056 7,891,301
Lease liability (Note 3) 139,552 195,213
Deferred income tax liability (Note 14) 310,162 233,751
Long term debt (Note 12) 1,573,024 2,998,844
Total Liabilities 11,845,794 11,319,109
Stockholders’ Equity    
Capital stock (Note 17) Authorized: 50,000,000 common shares with a par value of $0.001 each; 1,000,000 preferred shares with a par value of $0.01 each Issued and outstanding: 12,355,246 (2020: 12,260,545) common shares 12,355 12,261
Capital in excess of par value 16,983,648 16,633,190
Other comprehensive loss (775,730) (872,121)
Accumulated earnings 8,882,360 5,433,198
Total stockholders’ equity – controlling interest 25,102,633 21,206,528
Non-controlling interests (Note 18) 2,602,843 2,561,751
Total Stockholders’ Equity 27,705,476 23,768,279
Total Liabilities and Stockholders’ Equity $ 39,551,270 $ 35,087,388