BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES (Tables)

9 Months Ended

Sep. 30, 2024

BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES

Schedule of inventory

	September 30, 2024		December 31, 2023
Raw Goods	$	5,704,069	$	4,962,652
Finished Goods		4,044,868		5,212,015
Total Inventory	$	9,748,937	$	10,174,667

Schedule of disaggregation of revenue

	For the Three Months Ended								For the Nine Months Ended
	September 30,								September 30,
Type of Sale	2024				2023				2024				2023
Net sales of raw materials to customers	$	96,208	1	%	$	618	0	%	$	856,457	3	%	$	3,696	0	%
Net sales of products to private label clients		784,352	9	%		312,905	2	%		2,868,515	10	%		1,178,686	3	%
Net sales of products to wholesalers		2,300,720	26	%		2,535,597	19	%		7,525,399	26	%		7,437,453	20	%
Net sales of products to distributors		4,660,483	54	%		9,640,568	74	%		15,031,446	52	%		27,738,487	73	%
Net sales of products to end consumers		849,913	10	%		616,592	5	%		2,563,806	9	%		1,732,293	5	%
Net Sales	$	8,691,675	100	%	$	13,106,280	100	%	$	28,845,623	100	%	$	38,090,615	100	%

	For the Three Months Ended								For the Nine Months Ended
	September 30,								September 30,
Product Type	2024				2023				2024				2023
Vapes	$	3,381,277	39	%	$	7,405,541	57	%	$	13,509,201	47	%	$	19,846,178	52	%
Edibles		4,074,937	47	%		3,293,422	25	%		11,423,876	40	%		10,849,438	28	%
Flower		253,832	3	%		1,165,926	9	%		1,255,326	4	%		4,203,894	11	%
Cartridges		944,639	11	%		1,223,320	9	%		2,523,090	9	%		3,165,575	8	%
Apparel and Accessories		36,989	0	%		18,071	0	%		134,128	0	%		25,530	0	%
Net Sales	$	8,691,675	100	%	$	13,106,280	100	%	$	28,845,623	100	%	$	38,090,615	100	%

	For the Three Months Ended								For the Nine Months Ended
	September 30,								September 30,
Hemp vs Non-Hemp Product Sales	2024				2023				2024				2023
Net sales of hemp products	$	8,416,929	97	%	$	12,957,460	99	%	$	28,022,767	97	%	$	35,587,865	93	%
Net sales of non-hemp products		274,746	3	%		148,820	1	%		822,855	3	%		2,502,750	7	%
Net Sales	$	8,691,675	100	%	$	13,106,280	100	%	$	28,845,623	100	%	$	38,090,615	100	%

	For the Three Months Ended								For the Nine Months Ended
	September 30,								September 30,
Location of Sale	2024				2023				2024				2023
Inside of USA	$	8,691,675	100	%	$	13,096,973	100	%	$	28,845,623	100	%	$	38,056,082	100	%
Outside of USA		-	0	%		9,307	0	%		-	0	%		34,533	0	%
Net Sales	$	8,691,675	100	%	$	13,106,280	100	%	$	28,845,623	100	%	$	38,090,615	100	%

Schedule of deferred revenue

	September 30, 2024		December 31, 2023
Contract Assets (invoiced but unfulfilled performance obligations)	$	552,840	$	131,304
Deposits from customers for unfulfilled orders		469,400		104,586
Total Deferred Revenue	$	1,022,241	$	235,891

Schedule of Earnings Per Share, Basic and Diluted

	For the Three Months Ended						For the Nine Months Ended
	September 30,						September 30,
	2024			2023			2024			2023
Net Income/(Loss)	$	(194,399	)	$	617,648	Net Income/(Loss)	$	(1,858,615	)	$	2,135,367
Weighted average number of common shares outstanding:						Weighted average number of common shares outstanding:
Basic		14,822,678			14,648,874	Basic		14,795,977			14,470,895
Diluted		14,822,678			15,356,374	Diluted		14,795,977			15,178,395
Basic Net Income/(Loss) per Common Share	$	(0.01	)	$	0.04	Basic Net Income/(Loss) per Common Share	$	(0.13	)	$	0.15
Diluted Net Income/(Loss) per Common Share	$	(0.01	)	$	0.04	Diluted Net Income/(Loss) per Common Share	$	(0.13	)	$	0.14