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BALANCE SHEET COMPONENTS

3 Months Ended

Mar. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

BALANCE SHEET COMPONENTS

(4) BALANCE SHEET COMPONENTS

Inventories

Inventories, net consists of the following:

SCHEDULE OF INVENTORIES

		March 31, 2022				December 31, 2021
Raw materials		$	1,601,870			$	1,047,156
Finished goods			28,355,288				31,456,058
Total		$	29,957,158			$	32,503,214

Finished goods includes consigned inventory held by our customers of $4.8 million and $4.5 million at March 31, 2022 and December 31, 2021, respectively and includes in-transit inventory of $2.2 million and $6.3 million at March 31, 2022 and December 31, 2021, respectively. The Company reviews inventory for obsolete and slow-moving products each quarter and makes provisions based on its estimate of the probability that the material will not be consumed or that it will be sold below cost. The inventory reserves were $311 thousand and $275 thousand as of March 31, 2022 and December 31, 2021, respectively.

Accrued expenses

Accrued expenses consist of the following:

SCHEDULE OF ACCRUED EXPENSES

		March 31, 2022				December 31, 2021
Inventory purchases		$	164,545			$	287,571
Payroll & related benefits			300,595				210,495
Professional fees			319,758				229,597
Royalty costs			1,649,999				1,588,025
Sales allowances			1,397,104				1,958,050
Sales and use tax			55,819				50,916
Other			861,844				955,263
Total accrued other expenses		$	4,749,664			$	5,279,917