Quarterly report pursuant to Section 13 or 15(d)

INVENTORY

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INVENTORY
6 Months Ended
Jun. 30, 2020
Inventory Disclosure [Abstract]  
INVENTORY

Inventory, net consisted of the following:

    June 30, 2020     December 31, 2019  
    (Unaudited)        
Finished goods – CBD products   $ -     $ -  
Finished goods – hemp flowers and hemp cuttings     340,528       1,337,809  
    $ 340,528     $ 1,337,809  

 

During the three and six months ended June 30, 2020, the Company recorded a reserve or inventory write-off related to damaged inventory of $106,560 and $660,000, respectively, due to mold and is included in cost of sales as reflected in the accompanying unaudited condensed consolidated statements of operations.