BASIS OF PRESENTATION AND CERTAIN SIGNIFICANT ACCOUNTING POLICIES (Tables)

6 Months Ended

Jun. 30, 2019

BASIS OF PRESENTATION AND CERTAIN SIGNIFICANT ACCOUNTING POLICIES [Abstract]

Net Sales for Geographic Areas

In the following table, revenue for the three and six months ended June 30, 2019 and 2018 is disaggregated by geographic areas as follows:

	Three Months Ended June 30,				Six Months Ended June 30,
	2019		2018		2019		2018
			Restated				Restated
United States	$	15,056,236	$	16,674,013	$	33,379,988	$	34,463,443
Canada		1,395,257		1,612,327		3,127,722		3,351,817
All other countries		745,322		900,882		1,630,427		1,872,540
Net sales	$	17,196,815	$	19,187,222	$	38,138,137	$	39,687,800

Inventory

Inventory is physically counted twice annually in the Texas distribution center.  At the store level, inventory is physically counted each quarter.  Inventory is then adjusted in our accounting system to reflect actual count results.

	June 30, 2019		December 31, 2018
			Restated
On hand:
Finished goods held for sale	$	25,001,014	$	31,263,806
Raw materials and work in process		688,776		919,202
Inventory in transit		499,265		1,119,541
TOTAL	$	26,189,055	$	33,302,549

Other Intangibles

Our intangible assets, excluding goodwill, and related accumulated amortization consisted of the following:

	June 30, 2019
	Gross		Accumulated Amortization		Net
Trademarks/copyrights	$	554,369	$	547,035	$	7,334
Non-compete agreements		153,000		145,167		7,833
TOTAL	$	707,369	$	692,202	$	15,167

	December 31, 2018 Restated
	Gross		Accumulated Amortization		Net
Trademarks/copyrights	$	554,369	$	546,702	$	7,667
Non-compete agreements		153,000		144,167		8,833
TOTAL	$	707,369	$	690,869	$	16,500