INVENTORY

9 Months Ended

Sep. 30, 2021

INVENTORY

NOTE 4 - INVENTORY

NOTE 4 - INVENTORY

Inventory consists of raw materials, packaging components, work-in-process and finished goods. The Company’s inventory is stated at the lower of cost (FIFO cost basis) or Net Realized Value.

The carrying value of inventory consisted of the following at September 30, 2021 and December 31, 2020 (in thousands):

	September 30, 2021			December 31, 2020
Raw materials	$	98		$	64
Packaging components		133			54
Work-in-process		40			22
Finished goods		877			603
		1,148			743
Reserve for obsolescence		(188	)		(294	)
Total inventory	$	960		$	449

For the three months ended September 30, 2021 and 2020, inventory reserves amounted to $0.003 million and $0.001 million, respectively. For the nine months ended September 30, 2021 and 2020, inventory reserves amounted to $0.2 million and $0.004 million, respectively.