6. Inventories

Inventories, net of reserves, as of March 31, 2020 and December 31, 2019 consisted of the following:

	March 31, 2020		December 31, 2019
Current:
Raw materials	$	756	$	847
Finished goods		9,594		10,594
	$	10,350	$	11,441

Long-term:
Raw materials	$	1,862	$	1,915
Finished goods		3,884		4,369
	$	5,746	$	6,284

Long-term inventory represents inventory held in excess of our current (next 12 months) requirements based on our recent sales and forecasted level of sales. We expect to sell the above inventory, net of reserves, at or above the stated cost and believe that no loss will be incurred on its sale, although there can be no assurance of the timing or amount of any sales.

Net loss incurred on valuation of inventory at lower of cost or market value and write-off of obsolete inventory for the three months ended March 31, 2020 and 2019 was as follows:

	Three months ended March 31,
	2020		2019
Net loss incurred on valuation of inventory at lower of cost or market value and write-off of obsolete inventory	$	201	$	185