Inventory

9 Months Ended

Sep. 30, 2023

Inventory Disclosure [Abstract]

Inventory

Note 3 – Inventory

Inventory consisted of the following:

	September 30,			December 31,
	2023			2022
Finished goods	$	371,689		$	270,555
Work in progress		-			155
Raw materials		125,437			148,608
Allowance for excess & obsolete inventory		(182,030	)		(70,907	)
Inventory, net	$	315,096		$	348,411

Overhead expenses of $15,145 and $12,770 were included in the inventory balance as of September 30, 2023, and December 31, 2022, respectively.

Advance payments on inventory purchases are recorded in prepaid expenses until title for such inventory passes to the Company. Prepaid expenses included approximately $36,000 and $1,176,000 in advance payments for inventory as of September 30, 2023, and December 31, 2022, respectively.

CEA Industries Inc.

Notes to Condensed Consolidated Financial Statements

September 30, 2023

(in US Dollars except share numbers)

(Unaudited)