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Condensed Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Dec. 31, 2022
Current assets    
Cash and cash equivalents $ 1,274,791 $ 4,562,589
Accounts receivable, net 343,288 352,379
Inventory, net 13,570,879 18,801,529
Prepaid expenses and other current assets 833,848 741,243
Total current assets 16,022,806 24,457,740
Property and equipment, net 245,148 274,195
Deferred tax assets 974,276 549,320
Right-of-use lease assets 394,301 450,721
TOTAL ASSETS 17,636,531 25,731,976
Current liabilities    
Short-term loan 657,895 652,316
Accounts payable 6,024,606 11,883,253
Accrued expenses and other current liabilities 724,123 1,583,930
Operating lease liabilities-current 340,677 385,216
Total current liabilities 7,747,301 14,504,715
Non-current liabilities    
Operating lease liabilities-non-current 46,951 64,945
Due to related parties $ 4,226,996 $ 4,329,460
Other Liability, Noncurrent, Related and Nonrelated Party Status [Extensible Enumeration] us-gaap:RelatedPartyMember us-gaap:RelatedPartyMember
Total non-current liabilities $ 4,273,947 $ 4,394,405
Total liabilities 12,021,248 18,899,120
Commitments and contingencies
Stockholders’ equity    
Preferred stock: $0.0001 par value, 10,000,000 shares authorized, none issued and outstanding as of March 31, 2023 and December 31, 2022
Common stock: $0.0001 par value, 300,000,000 shares authorized, 35,052,833 and 35,047,828 shares issued and outstanding as of March 31, 2023 and December 31, 2022, respectively 3,506 3,506
Additional paid-in capital 5,691,652 5,675,320
Retained earnings (58,172) 1,177,072
Accumulated other comprehensive loss (21,703) (23,042)
Total stockholders’ equity 5,615,283 6,832,856
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 17,636,531 $ 25,731,976