BASIS OF PRESENTATION AND CERTAIN SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 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 nine months ended September 30, 2019 and 2018 is disaggregated by geographic areas as follows:

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018 Restated		2019		2018 Restated
United States	$	14,366,731	$	16,462,499	$	47,746,719	$	50,925,942
Canada		1,445,451		1,574,710		4,573,173		4,926,527
All other countries		498,705		841,054		2,129,132		2,713,594
Net sales	$	16,310,887	$	18,878,263	$	54,449,024	$	58,566,063

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.

	September 30, 2019		December 31, 2018 Restated
On hand:
Finished goods held for sale	$	21,807,402	$	31,263,806
Raw materials and work in process		654,812		919,202
Inventory in transit		1,298,849		1,119,541
TOTAL	$	23,761,063	$	33,302,549

Intangible Assets, Excluding Goodwill, and Related Accumulated Amortization

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

	September 30, 2019
	Gross		Accumulated Amortization		Net
Trademarks/copyrights	$	554,369	$	547,202	$	7,167
Non-compete agreements		153,000		145,667		7,333
TOTAL	$	707,369	$	692,869	$	14,500

	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