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INVENTORY
9 Months Ended 12 Months Ended
Sep. 30, 2023
Dec. 31, 2022
INVENTORY    
INVENTORY

NOTE 4 – INVENTORY

 

As of September 30, 2023, and December 31, 2022, inventory, which consists primarily of the Company’s raw materials, finished products and packaging is stated at the following amounts:

 

 

 

September 30,

 

 

December 31,

 

 

 

2023

 

 

2022

 

 

 

 

 

 

 

 

Finished goods

 

$564,778

 

 

$109,879

 

Raw materials and labor (Net of obsolescence allowance)

 

 

344,972

 

 

 

535,253

 

Total inventory at cost less obsolescence allowance

 

$909,750

 

 

$645,132

 

 

 

The Company identified a potential for obsolescence in particular raw materials and provided an allowance for this risk in full in the year ended December 31, 2020. As of September 30, 2023, and December 31, 2022, and 2021, respectively, this allowance remains unchanged. This obsolescence allowance is continually re-evaluated and adjusted as necessary.

NOTE 4 – INVENTORY

 

As of December 31, 2022, and December 31, 2021, inventory, which consists primarily of the Company’s raw materials, finished products and packaging is stated at the following amounts:

  

 

 

December 31,

 

 

December 31,

 

 

 

2022

 

 

2021

 

 

 

 

 

 

 

 

Finished goods

 

$

109,879

 

 

$

41,088

 

Raw materials (Net of obsolescence allowance)

 

 

535,253

 

 

 

157,848

 

Total inventory at cost less obsolescence allowance

 

$

645,132

 

 

$

198,936

 

 

The Company identified a potential for obsolescence in particular raw materials and provided an allowance for this risk in full in the year ended December 31, 2020. As of December 31, 2022, and 2021, respectively, this allowance remains unchanged. This obsolescence allowance is continually re-evaluated and adjusted as necessary.