Annual report pursuant to Section 13 and 15(d)

REVENUE RECOGNITION

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REVENUE RECOGNITION
12 Months Ended
Dec. 31, 2021
Revenue from Contract with Customer [Abstract]  
REVENUE RECOGNITION REVENUE RECOGNITION
Disaggregation of Revenues
The following table disaggregates revenue by source:
Year Ended December 31,
2021
Year Ended December 31,
2020
Year Ended December 31,
2019
Sales at company owned stores $ 369,199  $ 182,736  $ 74,970 
Distribution 17,087  —  — 
E-commerce sales 36,203  10,629  4,764 
Total Revenues $ 422,489  $ 193,365  $ 79,734 
Contract Balances
Depending on the timing of when a customer takes possession of product and when a customer makes payments for such product, the Company recognizes a customer trade receivable (asset) or a customer deposit (liability). The difference between the opening and closing balances of the Company’s customer trade receivables and the customer deposit liability results from timing differences between the Company’s performance and the customer’s payment and due to the acquisitions for the years ended December 31, 2021 and 2020.
The opening and closing balances of the Company’s customer trade receivables and customer deposit liability are as follows:
Receivables Customer Deposit Liability
Opening balance, 1/1/2021 $ 7,713  $ 5,155 
Closing balance, 12/31/2021 8,181  11,686 
Increase (decrease) $ 468  $ 6,531 
Opening balance, 1/1/2020 $ 4,455  $ 2,504 
Closing balance, 12/31/2020 7,713  5,155 
Increase (decrease) $ 3,258  $ 2,651 
The Company also has customer trade receivables under longer term financing arrangements at interest rates ranging from 8% to 12% with repayment terms ranging for 12 to 18 months. Notes receivable at December 31, 2021 and 2020 are as follows: 
December 31, 2021 December 31, 2020
Note receivable $ 2,962  $ 4,104 
Allowance for losses (522) (292)
Notes receivable, net $ 2,440  $ 3,812 
The following table summarizes changes in notes receivable balances that have been deemed impaired.
December 31,
2021
December 31,
2020
Note receivable $ 1,500  $ 1,166 
Allowance for loses (522) (292)
Notes receivable, net $ 978  874