Inventories

12 Months Ended

Dec. 31, 2019

Inventory Disclosure [Abstract]

INVENTORIES

NOTE 5 – INVENTORIES

At December 31, 2019 and 2018, inventories consisted of the following:

	December 31, 2019		December 31, 2018
Raw materials	$	-	$	1,207,334
Work-in-process		-		872,376
Finished goods		-		5,547,301
		-		7,627,011
Less: reserve for obsolete inventories and impairment loss		-		(1,212,706	)
Inventories, net		-		6,414,305
Less: Inventories, net – discontinued operations		-		(6,414,305	)
Inventories, net – continuing operations	$	-	$	-

The Company establishes a reserve to mark down its inventories for estimated unmarketable inventories equal to the difference between the cost of inventories and the estimated net realizable value based on assumptions about the usability of the inventories, future demand and market conditions. For the years ended December 31, 2019 and 2018, the Company increased its reserve for obsolete inventory of $3,306,861 and $944,567 for discontinued operations, respectively. At December 31, 2019, the Company recognized a full impairment charge to property and equipment of discontinued operations.