5. BALANCE SHEET COMPONENTS

Inventory

	December 31, 2019		December 31, 2018		December 31, 2017
			Restated		Restated
On hand:
Finished goods held for sale	$	20,575,216	$	31,263,806	$	32,042,251
Raw materials and work in process		717,053		919,202		1,155,680
Inventory in transit		2,749,558		1,119,541		1,348,153
TOTAL	$	24,041,827	$	33,302,549	$	34,546,084

Property and Equipment

	December 31, 2019			December 31, 2018			December 31, 2017
				Restated			Restated
Building	$	9,257,066		$	9,257,066		$	9,257,066
Land		1,451,133			1,451,133			1,451,133
Leasehold improvements		1,828,448			1,980,547			1,729,281
Equipment and machinery		6,516,068			6,594,487			6,447,776
Furniture and fixtures		8,080,427			8,335,926			7,907,704
Vehicles		337,403			521,186			539,339
		27,470,545			28,140,345			27,332,299
Lesss: accumulated depreciation		(14,551,645	)		(13,625,261	)		(11,765,416	)
TOTAL	$	12,918,900		$	14,515,084		$	15,566,883

Our property and equipment, net was located in the following countries:

Depreciation expense was $1.7 million, $1.8 million, and $1.9 million for the years ended December 31, 2019, 2018, and 2017, respectively.

Short-term Liabilities

	December 31, 2019		December 31, 2018		December 31, 2017
Accrued Expenses and Other Liabilities			Restated		Restated

Accrued bonuses, PTO and payroll	$	1,104,757	$	2,762,170	$	2,904,294
Deferred revenue		-		647,277		905,657
Unearned gift card revenue		319,124		195,901		271,109
Estimated returns		284,734		416,091		348,732
Sales and payroll taxes payable		458,882		572,497		584,726
Exit obligations		-		150,529		-
Accrued severance		37,782		367,387		-
Accrued vendor payables		451,439		289,656		30,497
TOTAL	$	2,656,718	$	5,401,508	$	5,045,015