Inventory

3 Months Ended

Mar. 31, 2021

Inventory Disclosure [Abstract]

INVENTORY

3. INVENTORY

Inventory consist of material, labor and manufacturing overhead and are recorded at the lower of cost, using the weighted average cost method, or net realizable value. The components of inventory at March 31, 2021 and 2020 net of inventory reserves, were as follows:

	2021		2020
Raw materials	$	—	$	—
Finished goods		—		2,225
Total	$	—	$	2,225

The Company periodically reviews quantities of inventory on hand and compares these amounts to expected usage of each particular product or product line. The Company records, as a charge to cost of sales, any amounts required to reduce the carrying value to net realizable value. The Company stopped selling its remaining bottles of Sugardown during the first quarter of 2021 while it evaluates its strategy for the product going forward. As a result, the company has taken a charge to the provision for inventory obsolescence totaling $2,225 in the first quarter of 2021. No charges to the provision for inventory obsolescence were recorded for the three months ended March 31, 2020.