Celsius (CELH) 10-Q 12 Nov 21 2021 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2021	Nov. 11, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2021
Current Fiscal Year End Date	--12-31
Entity File Number	001-34611
Entity Registrant Name	CELSIUS HOLDINGS, INC.
Entity Central Index Key	0001341766
Entity Tax Identification Number	20-2745790
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	2424 N Federal Highway
Entity Address, Address Line Two	Suite 208
Entity Address, City or Town	Boca Raton
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33431
City Area Code	(561)
Local Phone Number	276-2239
Title of 12(b) Security	Common Stock, $.001 par value
Trading Symbol	CELH
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		74,815,090

Consolidated Balance Sheets (Un

Consolidated Balance Sheets (Unaudited) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Current assets:
Cash and cash equivalents	$ 61,377,202	$ 43,248,021
Accounts receivable-net (note 2)	43,500,578	14,986,213
Note receivable-current (note 6)	2,543,225	1,885,887
Inventories-net (note 4)	122,311,445	18,403,622
Prepaid expenses and other current assets (note 5)	22,829,510	14,626,922
Total current assets	252,561,960	93,150,665
Note receivable (note 6)	6,993,869	9,429,437
Property and equipment-net (note 8)	2,454,914	579,377
Right-of-use asset-operating leases	888,911	836,038
Right-of-use asset-finance leases	106,675	162,119
Long-term security deposits	308,449	122,733
Intangibles (note 9)	16,811,762	16,590,083
Goodwill (note 9)	14,851,635	10,419,321
Total Assets	294,978,175	131,289,773
Current liabilities:
Accounts payable and accrued expenses (note 10)	91,931,593	25,412,753
Lease liability-operating leases (note 7)	376,602	321,283
Lease liability-finance leases (note 7)	155,508	205,824
Other current liabilities (note 11)	957,627	425,232
Total current liabilities	93,421,330	26,365,092
Long-term liabilities:
Lease liability-operating leases (note 7)	550,547	514,948
Lease liability-finance leases (note 7)	88,649	82,290
Deferred tax liability	3,497,240
Other long-term liabilities	22,198
Total Liabilities	97,579,964	26,962,330
Stockholders’ Equity:
Common stock, $0.001 par value; 100,000,000 shares authorized, 74,745,924 and 72,262,829 shares issued and outstanding at September 30, 2021 and December 31, 2020, respectively (note 13)	74,746	72,263
Additional paid-in capital	244,293,710	159,884,154
Accumulated other comprehensive income/(loss)	1,165,027	(202,142)
Accumulated deficit	(48,135,273)	(55,426,832)
Total Stockholders’ Equity	197,398,211	104,327,443
Total Liabilities and Stockholders’ Equity	$ 294,978,175	$ 131,289,773

Consolidated Balance Sheets (_2

Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.001	$ 0.001
Common stock, authorized	100,000,000	100,000,000
Common stock, issued	74,745,924	72,262,829
Common stock, outstanding	74,745,924	72,262,829

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Income Statement [Abstract]
Revenue (note 3)		$ 94,909,100	$ 36,839,149	$ 210,017,302	$ 95,061,265
Cost of revenue (note 2)		57,215,728	19,305,416	123,495,466	51,512,534
Gross profit		37,693,372	17,533,733	86,521,836	43,548,731
Selling and marketing expenses		22,621,062	8,267,996	50,111,103	23,640,914
General and administrative expenses		11,140,030	4,752,428	28,066,228	13,178,593
Total operating expenses		33,761,092	13,020,424	78,177,331	36,819,507
Income from operations		3,932,280	4,513,309	8,344,505	6,729,224
Other income (expense):
Interest income on note receivable (note 6)		76,473	78,690	239,586	268,709
Interest expense on bonds			(144,021)		(391,458)
Interest on other obligations		(4,524)	(3,419)	(7,496)	(13,400)
Amortization of discount on bonds payable			(178,649)		(506,100)
Other miscellaneous income/(expense)		(97,038)	(62,817)		(27,614)
Gain on lease cancellations					152,112
Foreign exchange gain/(loss)		(327,581)	550,510	(451,217)	646,515
Total other income/(expense)		(352,670)	240,294	(219,127)	128,764
Net income before income taxes		3,579,610	4,753,603	8,125,378	6,857,988
Income tax expense		833,819		833,819
Net income		2,745,791	4,753,603	7,291,559	6,857,988
Other comprehensive income:
Foreign currency translation gain/(loss)		1,282,683	110,027	1,367,169	(113,144)
Comprehensive Income		$ 4,028,474	$ 4,863,630	$ 8,658,728	$ 6,744,844
Income per share:
Basic		$ 0.04	$ 0.07	$ 0.10	$ 0.10
Diluted		$ 0.03	$ 0.06	$ 0.09	$ 0.09
Weighted average shares outstanding:
Basic		74,609,195	70,473,351	73,758,731	70,184,071
Diluted	[1]	78,473,866	74,848,239	77,782,459	73,524,209
[1]	Please refer to Earnings Per Share section for further details.

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	AOCI Attributable to Parent [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 68,942	$ 127,552,998	$ (753,520)	$ (63,409,431)	$ 63,458,989
Balance at beginning, shares at Dec. 31, 2019	68,941,311
Share-based payment expense		1,400,000			1,400,000
Issuance of common stock pursuant to exercise of stock options - cashless	$ 204	(204)
Issuance of common stock pursuant to exercise of stock options - Cashless, shares	204,028
Issuance of common stock pursuant to exercise of stock options - cash	$ 134	215,213			215,347
Issuance of common stock pursuant to exercise of stock options - Cash, shares	133,921
Foreign currency fluctuations			(114,490)		(114,490)
Net income				546,051	546,051
Ending balance, value at Mar. 31, 2020	$ 69,280	129,168,007	(868,010)	(62,863,380)	65,505,897
Ending balance, shares at Mar. 31, 2020	69,279,260
Share-based payment expense		1,174,999			1,174,999
Issuance of common stock pursuant to exercise of stock options - cashless	$ 106	(106)
Issuance of common stock pursuant to exercise of stock options - Cashless, shares	106,327
Issuance of common stock pursuant to exercise of stock options - cash	$ 177	489,140			489,317
Issuance of common stock pursuant to exercise of stock options - Cash, shares	176,914
Foreign currency fluctuations			(108,681)		(108,681)
Net income				1,558,334	1,558,334
Ending balance, value at Jun. 30, 2020	$ 69,563	130,832,040	(976,691)	(61,305,046)	68,619,866
Ending balance, shares at Jun. 30, 2020	69,562,501
Share-based payment expense		2,143,700			2,143,700
Issuance of common stock – private placement	$ 1,438	21,981,678			21,983,116
Issuance of common stock pursuant to exercise of stock options - cashless	$ 86	(86)
Issuance of common stock pursuant to exercise of stock options - Cashless, shares	86,405
Issuance of common stock pursuant to exercise of stock options - cash	$ 565	1,591,114			1,591,679
Issuance of common stock pursuant to exercise of stock options - Cash, shares	564,741
Issuance of common stock from capital raise, shares	1,437,909
Foreign currency fluctuations			110,027		110,027
Net income				4,753,603	4,753,603
Ending balance, value at Sep. 30, 2020	$ 71,652	156,548,446	(866,664)	(56,551,443)	99,201,991
Ending balance, shares at Sep. 30, 2020	71,651,556
Beginning balance, value at Dec. 31, 2020	$ 72,263	159,884,154	(202,142)	(55,426,832)	104,327,443
Balance at beginning, shares at Dec. 31, 2020	72,262,829
Share-based payment expense		3,575,001			3,575,001
Issuance of common stock pursuant to exercise of stock options - cashless	$ 88	(88)
Issuance of common stock pursuant to exercise of stock options - Cashless, shares	88,312
Issuance of common stock pursuant to exercise of stock options - cash	$ 235	715,675			715,910
Issuance of common stock pursuant to exercise of stock options - Cash, shares	234,546
Foreign currency fluctuations			(192,509)		(192,509)
Net income				585,424	585,424
Ending balance, value at Mar. 31, 2021	$ 72,586	164,174,742	(394,651)	(54,841,408)	109,011,269
Ending balance, shares at Mar. 31, 2021	72,585,687
Share-based payment expense		4,022,259			4,022,259
Issuance of common stock pursuant to exercise of stock options - cashless	$ 316	(316)
Issuance of common stock pursuant to exercise of stock options - Cashless, shares	315,913
Issuance of common stock pursuant to exercise of stock options - cash	$ 435	1,798,672			1,799,107
Issuance of common stock pursuant to exercise of stock options - Cash, shares	434,986
Issuance of common stock from capital raise	$ 1,134	67,768,252			67,769,386
Issuance of common stock from capital raise, shares	1,133,953
Foreign currency fluctuations			276,995		276,995
Net income				3,960,344	3,960,344
Ending balance, value at Jun. 30, 2021	$ 74,471	237,763,609	(117,656)	(50,881,064)	186,839,360
Ending balance, shares at Jun. 30, 2021	74,470,539
Share-based payment expense		5,803,321			5,803,321
Issuance of common stock pursuant to exercise of stock options - cashless	$ 118	(118)
Issuance of common stock pursuant to exercise of stock options - Cashless, shares	117,923
Issuance of common stock pursuant to exercise of stock options - cash	$ 157	726,898			727,056
Issuance of common stock pursuant to exercise of stock options - Cash, shares	157,462
Issuance of common stock from capital raise
Foreign currency fluctuations			1,282,683		1,282,683
Net income				2,745,791	2,745,791
Ending balance, value at Sep. 30, 2021	$ 74,746	$ 244,293,710	$ 1,165,027	$ (48,135,273)	$ 197,398,211
Ending balance, shares at Sep. 30, 2021	74,745,924

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Cash flows from operating activities:
Net income	$ 7,291,559	$ 6,857,988
Adjustments to reconcile net income to net cash (used in)/provided by operating activities:
Depreciation	519,765	82,180
Amortization	550,800	1,224,684
Unrealized currency gain	(76,765)
Bad debt expense	(207,261)	244,685
Inventory excess and obsolescence expense	12,234	211,822
Stock-based compensation expense	13,400,581	4,718,699
Gain on China transaction		(384,493)
Gain on lease cancellations	(14,669)	(152,112)
Changes in operating assets and liabilities:
Accounts receivable-net	(28,307,104)	(9,031,438)
Inventory-net	(103,920,057)	(598,665)
Prepaid expenses and other current assets	(8,202,588)	(561,752)
Accounts payable and accrued expenses	66,694,568	824,964
Other assets	(185,716)	43,259
Other liabilities	532,395	213,764
Deferred Tax Liability-net	(182,156)
Change in right-of-use asset and lease liability-net	30,465	149,925
Net cash (used in)/provided by operating activities	(52,063,949)	3,843,510
Cash flows from investing activities:
Proceeds from note receivable	1,885,724	1,331,011
Purchase of property and equipment	(2,395,302)	(416,671)
Net cash (used in)/provided by investing activities	(509,578)	914,340
Cash flows from financing activities:
Principal payments on finance lease obligations	(72,386)	(259,231)
Proceeds from capital raise	67,769,386	21,983,116
Proceeds from exercise of stock options	3,242,073	2,296,343
Net cash provided by financing activities	70,939,073	24,020,228
Effect on exchange rate changes on cash and cash equivalents	(236,365)	289,338
Net increase in cash and cash equivalents	18,129,181	29,067,416
Cash and cash equivalents at beginning of the period	43,248,021	23,090,682
Cash and cash equivalents at end of the period	61,377,202	52,158,098
Cash paid during period for:
Interest	5,364	299,394
Taxes	398,326
Non-cash investing and financing activities:
Goodwill		395,515
Other liabilities		$ (395,515)

ORGANIZATION AND DESCRIPTION OF

ORGANIZATION AND DESCRIPTION OF BUSINESS	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
ORGANIZATION AND DESCRIPTION OF BUSINESS	1. ORGANIZATION AND DESCRIPTION OF BUSINESS Business Company Celsius Holdings On February 7, 2018, the Company established Celsius Asia Holdings Limited, a Hong Kong corporation, as a wholly owned subsidiary of the Company. On February 7, 2018 Celsius China Holdings Limited, a Hong Kong corporation, became a wholly owned subsidiary of Celsius Asia Holdings Limited and on May 9, 2018, Celsius Asia Holdings Limited established Celsius (Beijing) Beverage Limited, a China corporation, as a wholly owned subsidiary of Celsius Asia Holdings Limited. On October 25, 2019, the Company acquired 100% of Func Food Group, Oyj (“ Func Food The Company is engaged in the development, marketing, sale and distribution of “ functional

BASIS OF PRESENTATION AND SUMMA

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	2. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation and Principles of Consolidation US GAAP Significant Estimates Reclassification of Prior Year Presentation Segment Reporting Concentrations of Risk The Company uses single supplier relationships for its raw materials purchases and filling capacity, which potentially subjects the Company to a concentration of business risk. If these suppliers had operational problems or ceased making product available to the Company, operations could be adversely affected. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company places its cash and cash equivalents with high-quality financial institutions. At times, balances in the Company’s cash accounts may exceed the Federal Deposit Insurance Corporation limit. At September 30, 2021, the Company had approximately $9.3 million in excess of the insurance protection provided by financial institutions. For the nine months ended September 30, 2021 and 2020, the Company had the following 10 percent or greater concentrations of revenue with its customers. The following customers met or exceeded 10% of our revenue for both or either the nine months ended September 30, 2021 and 2020, respectively. The below table reflects this customer’s evolution as a percentage of our total revenue for the nine months ended September 30, 2021 and 2020: Schedule of revenue & accounts receivable with customers 2021 2020 Amazon 10.0 % 16.6 % Costco 11.3 % 2.6 % All other 78.7 % 80.8 % Total 100.0 % 100.0 % At September 30, 2021 and December 31, 2020, the Company had the following 10 percent or greater concentrations of accounts receivable with its customers: 2021 2020 Amazon 12.6 % 11.4 % Costco 11.4 % 6.6 % All other 76.0 % 82.0 % Total 100.0 % 100.0 % Cash Equivalents Accounts Receivable 342,312 549,573 Inventories 1,625,289 1,613,000 Property and Equipment Impairment of Long-Lived Assets charges Long-lived Asset Geographic Data The following table sets forth long-lived asset information, which includes property and equipment and right-of-use assets and excludes goodwill and intangibles, where individual countries represent a significant portion of the total: Schedule of long-lived asset geographic data September 30, December 31, 2021 2020 United States $ 2,338,295 $ 694,697 Sweden 776,420 431,959 Finland 335,785 450,878 Long-lived assets related to foreign operations 1,112,205 882,837 Total long-lived assets-net $ 3,450,500 $ 1,577,534 Goodwill Intangible assets Revenue Recognition Customer Advances no Advertising Costs 23.8 9.6 Research and Development 0.7 0.3 Foreign Currency Gain/Losses 451,000 647,000 1,367,000 113,000 Chinese-Yuan Norwegian-Krone Swedish-Krona Finland-Euro Fair Value of Financial Instruments Fair Value Measurements Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. Other than these noted previously, the Company did not have any other assets or liabilities measured at fair value at September 30, 2021 and December 31, 2020. Income Taxes Accounting for Uncertain Income Tax Positions. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 The Company has adopted ASC 740-10-25 Definition of Settlement, Earnings per Share Schedule of anti-dilutive shares For the three months For the nine months 2021 2020 2021 2020 Net income $ 2,745,791 $ 4,753,603 $ 7,291,559 $ 6,857,988 Income per share: Basic $ 0.04 $ 0.07 $ 0.10 $ 0.10 Diluted $ 0.03 $ 0.06 $ 0.09 $ 0.09 Weighted average shares outstanding: Basic 74,609,195 70,473,351 73,758,731 70,184,071 Effect of dilutive shared based awards 3,864,671 4,374,888 4,023,728 3,340,138 Diluted 78,473,866 74,848,239 77,782,459 73,524,209 Share-Based Payments 4.1 Cost of Sales Operating Expenses Shipping and Handling Costs 18.1 6.5 Recent Accounting Pronouncements The Company adopts all applicable, new accounting pronouncements as of the specified effective dates. In September 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) (“ASU 2016-13”), which requires the immediate recognition of management’s estimates of current and expected credit losses. In November 2018, the FASB issued ASU 2018-19, which makes certain improvements to Topic 326. In April and May 2019, the FASB issued ASUs 2019-04 and 2019-05, respectively, which adds codification improvements and transition relief for Topic 326. In November 2019, the FASB issued ASU 2019-10, which delays the effective date of Topic 326 for Smaller Reporting Companies to interim and annual periods beginning after December 15, 2022, with early adoption permitted. In November 2019, the FASB issued ASU 2019-11, which makes improvements to certain areas of Topic 326. In February 2020, the FASB issued ASU 2020-02, which adds an SEC paragraph, pursuant to the issuance of SEC Staff Accounting Bulletin No. 119, to Topic 326. Topic 326 is effective for the Company for fiscal years and interim reporting periods within those years beginning after December 15, 2022. Early adoption is permitted for interim and annual periods beginning December 15, 2019. The Company is currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In December 2019, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update on income taxes. The new guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. The Company adopted this standard effective January 1, 2021. The adoption of this standard did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. Except for the updates previously disclosed above, all new accounting pronouncements issued but not yet effective are not expected to have a material impact on our results of operations, cash flows or financial position. Liquidity 48,135,273 7,291,559 52,063,949 If our sales volumes do not meet our projections, expenses exceed our expectations, or our plans change, we may be unable to generate enough cash flow from operations to cover our working capital requirements. In such case, we may be required to adjust our business plan, by reducing marketing, lower our working capital requirements and reduce other expenses or seek additional financing. Furthermore, our business and results of operations may be adversely affected by changes in the global macro-economic environment related to the pandemic and public health crises related to the COVID-19 outbreak. Correction of Immaterial Errors

REVENUE

REVENUE	9 Months Ended
	Sep. 30, 2021
Revenue
REVENUE	3. REVENUE The Company recognizes revenue when obligations under the terms of a contract with the customer are satisfied. Product sales occur once control is transferred upon delivery to the customer. Revenue is measured as the amount of consideration the Company expects to receive in exchange for transferring goods. The amount of consideration the Company receives and revenue the Company recognizes varies with changes in customer incentives the Company offers to its customers and their customers. Sales taxes and other similar taxes are excluded from revenue. Information about the Company’s net sales by geographical location for the nine months ended September 30, 2021 and 2020 is as follows: Schedule of net sales by reporting segment For the nine months ended September 30, September 30, 2021 2020 North America $ 177,093,834 $ 67,083,888 Europe 30,695,477 26,799,756 Asia 1,861,130 868,915 Other 366,861 308,706 Net sales $ 210,017,302 $ 95,061,265 All of the Company’s North America revenue is derived from the United States, which is the Company’s country of domicile. Of the Company’s total foreign revenues of approximately $ 32.9 28.0 21.1 19.2 License Agreement In January 2019, the Company entered into a license and repayment of investment agreement with Qifeng Food Technology (Beijing) Co., Ltd (“Qifeng”). Under the agreement, Qifeng was granted the exclusive license rights to manufacture, market and commercialize Celsius branded products in China. The term of the agreement is 50 years, with annual royalty fees due from Qifeng after the end of each calendar year. The royalty fees are based on a percentage of Qifeng’s sales of Celsius branded products; however, the fees are fixed for the first five years of the agreement, totaling approximately $ 6.6 Under the agreement, the Company grants Qifeng exclusive license rights and provides ongoing support in product development, brand promotion and technical expertise. The ongoing support is integral to the exclusive license rights and, as such, both of these represent a combined, single performance obligation. The transaction price consists of the guaranteed minimums and the variable royalty fees, all of which are allocated to the single performance obligation. The Company recognizes revenue from the agreement over time because the customer simultaneously receives and consumes the benefits from the services. The Company uses the passage of time to measure progress towards satisfying its performance obligation because its efforts in providing the exclusive license rights and ongoing support occur on a generally even basis throughout the year. Total revenue recognized under the agreement was approximately $1.2 million for the nine months ended September 30, 2021 and $ 570,000

INVENTORIES

INVENTORIES	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
INVENTORIES	4. INVENTORIES Inventories consist of the following at: Schedule of inventories September 30, December 31, 2021 2020 Finished goods $ 81,377,525 $ 15,334,386 Raw Materials 42,559,209 4,682,291 Less: Inventory allowance for excess and obsolete products (1,625,289 ) (1,613,055 ) Inventories $ 122,311,445 $ 18,403,622

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	9 Months Ended
	Sep. 30, 2021
Prepaid Expenses And Other Current Assets
PREPAID EXPENSES AND OTHER CURRENT ASSETS	5. PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets total approximately $22.8 million 22,829,510 14,626,922 8.2

NOTE RECEIVABLE

NOTE RECEIVABLE	9 Months Ended
	Sep. 30, 2021
Note Receivable
NOTE RECEIVABLE	6. NOTE RECEIVABLE Note receivable consists of the following at: Schedule of note receivable September 30, December 31, 2021 2020 Note receivable-current $ 2,543,225 $ 1,885,887 Note receivable-non-current 6,993,869 9,429,437 Total Note receivable $ 9,537,094 $ 11,315,324 Effective January 1, 2019, we restructured our China distribution efforts by entering into two separate economic agreements as it relates to the commercialization of our Celsius products (i.e., license agreement) and a repayment of investment agreement with Qifeng. Under the license agreement, Qifeng was granted the exclusive license rights to manufacture, market and commercialize Celsius® brand products in China. Qifeng will pay a minimum royalty fee of approximately $ 6.6 Scheduled principal payments plus accrued interest are due annually on March 31 of each year starting in 2020. The Note is recorded at amortized cost basis and accrues interest at a rate per annum equal to the weighted average of 5% of the outstanding principal up to $5 million and 2% of the outstanding principal above $5 million. 3.21 240,000 The Company assesses the Note for impairment at each reporting period, by evaluating whether it is probable that the Company will be unable to collect all the contractual interest and principal payments as scheduled in the Note agreement, based on historical experience about Qifeng’s ability to pay, the current economic environment and other factors. If the Note is determined to be impaired, the impairment is measured based on the present value of the expected future cash flows under the Note, discounted at the Note’s effective interest rate. At September 30, 2021, the Note was not deemed to be impaired. As of September 30, 2021, Qifeng is current on all amounts due under the Note and the license agreement. As collateral for the Note, a stock certificate in Celsius Holdings, Inc., which amounts to 272,830

LEASES

LEASES	9 Months Ended
	Sep. 30, 2021
Leases
LEASES	7. LEASES The Company’s leasing activities include an operating lease of its corporate office space from a related party (see note 12) and other operating and finance leases of vehicles and office space for the Company’s European operations. At the inception of a contract, the Company assesses whether the contract is, or contains, a lease. The Company’s assessment is based on: (1) whether the contract involves the use of a distinct identified asset, (2) whether the Company obtains the right to substantially all the economic benefit from the use of the asset throughout the term, and (3) whether the Company has the right to direct the use of the asset. The Company allocates the consideration in the contract to each lease and non-lease component based on the component’s relative stand-alone price to determine the lease payments. Lease and non-lease components are accounted for separately. Leases are classified as either finance leases or operating leases based on criteria in ASC Topic 842, “Leases”. The Company’s operating leases are generally comprised of real estate and vehicles, and the Company’s finance leases are generally comprised of vehicles. At lease commencement, the Company records a lease liability equal to the present value of the remaining lease payments, discounted using the rate implicit in the lease or, if that rate cannot be readily determined, the Company’s incremental borrowing rate. A corresponding right-of-use asset (“ROU asset”) is recorded, measured based on the initial measurement of the lease liability. ROU assets also include any lease payments made and exclude lease incentives. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for operating leases, consisting of lease payments, is recognized on a straight-line basis over the lease term. Included in lease expense are any variable lease payments incurred in the period that were not included in the initial lease liability. Lease expense for finance leases consists of the amortization of the ROU asset on a straight-line basis over the shorter of the useful life of the asset or the lease term, and interest expense is calculated using the effective interest rate method. The following is a summary of lease cost recognized in the Company’s consolidated statements of operations: Schedule of components of lease costs Three months ended Three months ended September 30, September 30, Operating Finance Operating Finance Leases Leases Leases Leases Lease cost in general and administrative expenses: Operating lease expense $ 124,885 $ - $ 104,380 $ - Amortization of finance lease ROU assets - 34,129 - 49,713 Total lease cost in general and administrative expenses 124,885 34,129 104,380 49,713 Lease cost in other expense: Interest on finance lease liabilities - 2,397 - 21,530 Total lease cost in other expense - 2,397 - 21,530 Total lease cost $ 124,885 $ 36,526 $ 104,380 $ 71,243 Nine months ended Nine months ended September 30, September 30, Operating Finance Operating Finance Leases Leases Leases Leases Lease cost in general and administrative expenses: Operating lease expense $ 366,863 $ - $ 297,459 $ Amortization of finance lease ROU assets - 106,122 - 289,277 Total lease cost in general and administrative expenses 366,863 106,122 297,459 289,277 Lease cost in other expense: Interest on finance lease liabilities - 5,365 - 27,585 Total lease cost in other expense - 5,365 - 27,585 Total lease cost $ 366,863 $ 111,487 $ 297,459 $ 316,862 The following is a summary of the impact of the Company’s leases on the consolidated statements of cash flows: Schedule of cash flow information related to leases Nine months ended September 30, 2021 2020 Leasing activity in cash flows from operating activities: Payments under operating leases (363,600 ) (185,388 ) Interest payments on finance lease liabilities (5,365 ) (27,585 ) Total leasing activity in cash flows from operating activities (368,965 ) (212,973 ) Leasing activity in cash flows from financing activities: Principal payments on finance lease liabilities (72,386 ) (259,231 ) Total leasing activity in cash flows from financing activities: (72,386 ) (259,231 ) The weighted-average remaining lease terms and weighted-average discount rates for operating and finance leases at September 30, 2021 and December 31, 2020 were as follows: Schedule of weighted average remaining lease term and weighted average discount rate September 30, December 31, 2021 2020 Weighted average remaining lease term (years) - operating leases 2.4 2.6 Weighted average remaining lease term (years) - finance leases 0.8 1.1 Weighted average discount rate - operating leases 6.37 % 6.52 % Weighted average discount rate - finance leases 3.09 % 3.95 % The future annual minimum lease payments required under the Company’s operating and finance lease liabilities as of September 30, 2021 are as follows: Schedule of future annual minimum cash payments required under operating lease Operating Finance Future minimum lease payments Leases Leases Total 2021 $ 107,567 $ 24,826 $ 132,393 2022 420,694 177,626 598,320 2023 381,537 46,983 428,520 2024 84,736 - 84,736 2025 5,387 - 5,387 Total future minimum lease payments 999,921 249,435 1,249,356 Less: Amount representing interest (72,772 ) (5,278 ) (78,050 ) Present value of lease liabilities 927,149 244,157 1,171,306 Less: current portion (376,602 ) (155,508 ) (532,110 ) Long-term portion $ 550,547 $ 88,649 $ 639,196

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
PROPERTY AND EQUIPMENT	8. PROPERTY AND EQUIPMENT Property and equipment consist of the following at: Schedule of property and equipment September 30, December 31, 2021 2020 Property and equipment $ 3,498,603 $ 1,103,301 Less: accumulated depreciation (1,043,689 ) (523,924 ) Total $ 2,454,914 $ 579,377 Depreciation expense amounted to $ 519,765 82,180

GOODWILL AND INTANGIBLES

GOODWILL AND INTANGIBLES	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLES	9. GOODWILL AND INTANGIBLES Goodwill consists of $ 14,851,635 resulting from the excess of the consideration paid and the fair value of net tangible and intangible assets acquired from the Func Food Acquisition, including an immaterial correction further detailed in Note 2 above. Intangible assets consist of acquired customer relationships and brands from the Func Food Acquisition. The following table reflects our indefinite-lived intangible assets and our definite-lived intangible assets and related accumulated amortization as of September 30, 2021 and December 31, 2020, respectively: Schedule of accumulated amortization of intangible assets September 30, December 31, 2021 2020 Definite-lived intangible assets Customer relationships $ 14,525,741 $ 14,050,000 Less: accumulated amortization (978,275 ) (582,917 ) Definite-lived intangible assets, net $ 13,547,466 $ 13,467,083 Indefinite-lived intangible assets Brands $ 3,264,296 $ 3,123,000 Total Intangibles $ 16,811,762 $ 16,590,083 Customer relationships are amortized over an estimated useful life of 25 445,000 429,000 Other fluctuations in the amounts of goodwill and intangible assets are due to currency translation adjustments. The following is the future estimated annualized amortization expense related to customer relationships: Schedule future estimated amortization expense As of September 30, 2021: 2021 $ 117,000 2022 562,000 2023 562,000 2024 562,000 2025 562,000 Thereafter 11,182,466 Total Total $ 13,547,466

ACCOUNTS PAYABLE AND ACCRUED EX

ACCOUNTS PAYABLE AND ACCRUED EXPENSES	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
ACCOUNTS PAYABLE AND ACCRUED EXPENSES	10. ACCOUNTS PAYABLE AND ACCRUED EXPENSES Accounts payable and accrued expenses consist of the following at: Schedule of accounts payable and accrued expenses September 30, December 31, 2021 2020 Accounts payable $ 41,097,808 $ 11,854,421 Accrued expenses 29,056,893 7,997,269 Accrued promotional allowances 21,776,892 5,561,063 Total $ 91,931,593 $ 25,412,753

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
OTHER CURRENT LIABILITIES	11. OTHER CURRENT LIABILITIES Other current liabilities consist of the following at: Schedule of other current liabilities September 30, December 31, 2021 2020 Other Liabilities-State Beverage Container Deposit $ 957,627 $ 425,232 Total $ 957,627 $ 425,232

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	12. RELATED PARTY TRANSACTIONS The Company’s office is rented from a company affiliated with CD Financial, LLC which is controlled by one of our major shareholders. The current lease expires on January 2024 with monthly base rent of $ 17,295

STOCKHOLDERS_ EQUITY

STOCKHOLDERS’ EQUITY	9 Months Ended
	Sep. 30, 2021
Equity [Abstract]
STOCKHOLDERS’ EQUITY	13. STOCKHOLDERS’ EQUITY Issuance of common stock pursuant to exercise of stock options During the nine months ended September 30, 2021, the Company issued an aggregate of 1,349,142 3,242,073 826,994 During the nine months ended September 30, 2020, the Company issued an aggregate of 1,272,336 2,296,343 875,576 June 2021 Public Offering On June 9, 2021, the Company and certain selling stockholders (the “Selling Stockholders”) entered into an underwriting agreement (the “Underwriting Agreement”) with UBS Securities LLC and Jefferies LLC, as representatives (the “Representatives”) of the several underwriters (the “Underwriters”), relating to the sale of 6,518,267 0.001 62.50 977,740 133,953 6,257,455 67,769,386 375,447,300 The Underwriting Agreement contains customary representations and warranties of the parties, and indemnification and contribution provisions under which the Company and the Selling Stockholders have agreed to indemnify the Underwriters against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). Pursuant to the Underwriting Agreement, the Company has agreed, subject to certain exceptions, not to sell or transfer any shares of Common Stock or any securities convertible into or exercisable or exchangeable for Common Stock for 90 days after June 9, 2021 without first obtaining the written consent of the Representatives. Issuance of common stock pursuant to private placement On August 25, 2020 the Company issued 1,437,909 22,000,000

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	14. INCOME TAXES The effective income tax rate was 10.2 % for the nine months ended September 30, 2021. The effective income tax rate differed from the statutory federal income tax rate of 21 % primarily due to the impact of state income tax reserves for states in which the Company has nexus as well as the net operating loss carryforwards.

STOCK-BASED COMPENSATION

STOCK-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
STOCK-BASED COMPENSATION	15. STOCK-BASED COMPENSATION The Company adopted an Incentive Stock Plan on January 18, 2007. This plan is intended to provide incentives which will attract and retain highly competent persons at all levels as employees of the Company, as well as independent contractors providing consulting or advisory services to the Company, by providing them opportunities to acquire the Company’s common stock or to receive monetary payments based on the value of such shares pursuant to Awards issued. While the plan terminates 10 2.5 3.5 3.5 4.25 4.25 4.6 4.6 5.1 The Company adopted the 2015 Stock Incentive Plan on April 30, 2015. This plan is intended to provide incentives which will attract and retain highly competent persons at all levels as employees of the Company, as well as independent contractors providing consulting or advisory services to the Company, by providing them opportunities to acquire the Company’s common stock or to receive monetary payments based on the value of such shares pursuant to Awards issued. The 2015 Plan permits the grant of options and shares for up to 5,000,000 In addition, there is a provision for an annual increase of 15% of the shares pertaining to the 2015 plan that are outstanding 4.1 Under the 2015 Stock Incentive Plan, the Company has issued options to purchase approximately 4.0 7.13 3.29 304,750 495,274 For the nine months ended September 30, 2021 and 2020, the Company recognized approximately $ 13.4 4.7 9.1 2.1 The Company used straight-line amortization of compensation expense over the two to three-year requisite service or vesting period of the grant. The Company recognizes forfeitures as they occur. There are options to purchase approximately 2.27 million shares that have vested as of September 30, 2021. The Company uses the Black-Scholes option-pricing model to estimate the fair value of its stock option awards and warrant issuances. The calculation of the fair value of the awards using the Black-Scholes option-pricing model is affected by the Company’s stock price on the date of grant as well as assumptions regarding the following: Schedule of black - scholes option-pricing model valuation assumption Nine months ended 2021 2020 Expected volatility 69.18 81.11 % 69.18 81.11 % Expected term 4.49 5 4.84 5 Risk-free interest rate 0.32 1.39 % 0.23 1.39 % Forfeiture Rate 0.00 % 0.00 % The expected volatility was determined with reference to the historical volatility of the Company’s stock. The Company uses historical data to estimate option exercise and employee termination within the valuation model. The expected term of options granted represents the period of time that options granted are expected to be outstanding. The risk-free interest rate for periods within the contractual life of the option is based on the U.S. Treasury rate in effect at the time of grant. A summary of the status of the Company’s outstanding stock options as of September 30, 2021 and changes during the period ending on that date is as follows: Schedule of outstanding stock options Weighted Average Weighted Shares Exercise Grant Date Fair Aggregate Intrinsic Average Remaining (000’s) Price Value Value (000’s) Term (Yrs) Options At December 31, 2020 5,198 $ 4.23 $ 240,866 6.89 Granted 305 $ 42.37 $ 30.32 Exercised (1,292 ) $ 3.84 $ 73.91 $ 72,192 Forfeiture and cancelled (242 ) $ 6.71 At September 30, 2021 3,969 $ 7.13 $ 329,231 6.32 Exercisable at September 30, 2021 2,271 $ 4.09 $ 195,273 5.02 The following table summarizes information about employee stock options outstanding at September 30, 2021: Schedule of employee stock options outstanding Outstanding Options Vested Options Number Number Outstanding Weighted Weighted Exercisable Weighted Weighted Range of at Averaged Averaged at Averaged Averaged Exercise September 30, Remaining Exercise September 30, Exercise Remaining Price 2021 (000’s) Life Price 2021 (000’s) Price Life $0.20 - $0.53 20 2.33 $ 0.34 20 $ 0.34 2.33 $0.65 - $1.80 100 3.41 $ 1.05 100 $ 1.05 3.41 $1.83 - $2.84 112 4.27 $ 1.97 112 $ 1.97 4.27 $3.20 - $6.20 3,354 6.17 $ 4.10 2.019 4.29 5.13 $7.20-$60.00 383 9.18 37.04 20 14.53 8.84 Outstanding options 3,969 6.32 $ 7.13 2.271 $ 4.09 5.02 As of September 30, 2021, the Company had approximately $9.1 million of unrecognized pre-tax non-cash compensation expense related to options to purchase shares, which the Company expects to recognize, based on a weighted-average period of 2.1 years. Restricted Stock Awards Restricted stock awards are awards of common stock that are subject to restrictions on transfer and to a risk of forfeiture if the holder leaves the Company before the restrictions lapse. The holders of a restricted stock award are generally entitled after the release to transact and obtain the same rights as rights of a shareholder of the Company, including the right to vote the shares. The holders of unvested restricted stock awards do not have the same rights as shareholders including but not limited to any dividends which may be declared by the Company, and do not have the right to vote. The value of restricted stock awards that vest over time is established by the market price on the date of its grant. A summary of the Company’s restricted stock activity for the nine months ended September 30, 2021 and 2020 is presented in the following table: Schedule of restricted stock activity For the nine months ended September 30, September 30, Weighted Weighted Average Average Grant Date Grant Date Shares Fair Value Shares Fair Value Unvested at beginning of period 66,229 $ 28.11 90,000 $ 3.23 Transfers to restricted stock units (45,871 ) 34.02 - - Granted 92,444 14.72 Vested (19,429 ) 14.79 (18,582 ) 14.72 Forfeiture and cancelled (671 ) 14.72 - - Unvested at end of period 258 $ 14.72 163,862 $ 8.41 The total fair value of shares vested during the nine months ended September 30, 2021 and 2020 was $ 1.3 0.5 1,600 10 Restricted Stock Units Restricted stock units are awards that give the holder the right to receive one share of common stock for each restricted stock unit upon meeting service-based vesting conditions (typically annual vesting in three equal annual installments, with a requirement that the holder remains in the continuous employment of the Company). The holders of unvested units do not have the same rights as shareholders including but not limited to any dividends which may be declared by the Company, and do not have the right to vote. The value of restricted stock units that vest over time is established by the market price on the date of its grant. A summary of the Company’s restricted stock unit activity for the nine months ended September 30, 2021 and 2020 is presented in the following table: For the nine months ended September 30, September 30, Weighted Weighted Average Average Grant Date Grant Date Shares Fair Value Shares Fair Value Unvested at beginning of period - $ - - $ - Transfers from restricted stock awards 45,871 34.02 - Granted 546,525 52.27 - - Vested (1,334 ) 69.63 - - Forfeiture and cancelled (14,900 ) 50.67 Unvested at end of period 576,162 $ 50.82 - $ - The total fair value of shares vested during the nine months ended September 30, 2021 was $ 90,000 20.8 2.6

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	16. COMMITMENTS AND CONTINGENCIES In November of 2020, McGovern Capital, Inc. and Kevin McGovern (collectively “McGovern”) filed a claim in arbitration related to its Representative Agreement with Celsius Holdings, Inc. as amended by the first amendment dated August 6, 2016. Pursuant to the Representative Agreement, McGovern is entitled to receive a fee of three percent (3%) of “Net Revenues” received by the Company from sales of the Company’s Products in the People’s Republic of China for a period of four years from Initial Commercial Sale (which was September 1, 2017). “Net Revenues” are defined in the Representative Agreement as “the Company’s revenues net of actual discounts applied, credits and returns.” Effective January 1, 2019, the Company restructured its China operations from a distribution arrangement with Qifeng Food Technology (Beijing) Co. Ltd. (“Qifeng”), to a license and royalty arrangement and a loan, pursuant to which Qifeng will market and distribute the Company’s products in China, and Celsius will receive an annual royalty payment. The Company intends to pay McGovern its percentage of the annual royalty payment, but McGovern has objected claiming that McGovern is entitled to be paid commissions on the entire royalty payment and the amount of the loan to Qifeng. The Company intends to defend against McGovern’s claims vigorously and has filed a counterclaim related to McGovern’s failure to comply with the covenant of good faith and fair dealing in the Representative Agreement. This matter is still in its early stages and the Company is unable to predict the outcome at this time. In March of 2019, Daniel Prescod filed a putative class action lawsuit against the Company in the Superior Court for the State of California, County of Los Angeles, Case Number 19STCV09321, filed on March 19, 2019, (the “Prescod Litigation”). Daniel Prescod asserts that the Company’s use of citric acid in its products while simultaneously claiming “no preservatives” violates California Consumer Legal Remedies Act, California Business and Professions Code Section 17200, et seq., and California Business and Professions Code Section 17500, et seq., because citric acid acts as a preservative. The Company does not use citric acid as a preservative in its products, but rather as a flavoring, and therefore it believes that its “no preservatives” claim is fair and not deceptive. A motion to certify the case as a class action was filed and on August 2, 2021, that motion was granted. However, the Company also has a motion for summary adjudication pending and that motion would be dispositive of plaintiff’s claims if granted. No fact discovery has been conducted on the merits and this matter is still in its initial stages. The Company intends to contest the claims vigorously on the merits. Since merits discovery is still in its initial stages, we are unable to predict the outcome at this time. On January 8, 2021, we received a letter from the SEC Division of Enforcement seeking the production of documents in connection with a non-public fact-finding inquiry by the SEC to determine whether violations of the federal securities laws have occurred. On August 20, 2021, the SEC issued a subpoena for production of documents in connection with the matter. Neither the January 8, 2021 SEC letter nor the August 20, 2021 subpoena means that the SEC has concluded that the Company or anyone else has violated the federal securities laws. We have cooperated and will continue to cooperate with the SEC staff in its investigation. At this time, however, we cannot predict the length, scope, or results of the investigation or the impact, if any, of the investigation on our results of operations. In addition to the foregoing, from time to time, we may become party to litigation or other legal proceedings that we consider to be a part of the ordinary course of our business. The Company has entered into distribution agreements with liquidated damages in case the Company cancels the distribution agreements without Cause. Cause has been defined in various ways. It is management’s belief that no such agreement has created any liability as of September 30, 2021. Additionally, our business and results of operations may be adversely affected by the pandemic and public health crises related to the COVID-19 outbreak which is affecting the macro-economic environment.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	17. SUBSEQUENT EVENTS None

BASIS OF PRESENTATION AND SUM_2

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Basis of Presentation and Principles of Consolidation	Basis of Presentation and Principles of Consolidation US GAAP
Significant Estimates	Significant Estimates
Reclassification of Prior Year Presentation	Reclassification of Prior Year Presentation
Segment Reporting	Segment Reporting
Concentrations of Risk	Concentrations of Risk The Company uses single supplier relationships for its raw materials purchases and filling capacity, which potentially subjects the Company to a concentration of business risk. If these suppliers had operational problems or ceased making product available to the Company, operations could be adversely affected. Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company places its cash and cash equivalents with high-quality financial institutions. At times, balances in the Company’s cash accounts may exceed the Federal Deposit Insurance Corporation limit. At September 30, 2021, the Company had approximately $9.3 million in excess of the insurance protection provided by financial institutions. For the nine months ended September 30, 2021 and 2020, the Company had the following 10 percent or greater concentrations of revenue with its customers. The following customers met or exceeded 10% of our revenue for both or either the nine months ended September 30, 2021 and 2020, respectively. The below table reflects this customer’s evolution as a percentage of our total revenue for the nine months ended September 30, 2021 and 2020: Schedule of revenue & accounts receivable with customers 2021 2020 Amazon 10.0 % 16.6 % Costco 11.3 % 2.6 % All other 78.7 % 80.8 % Total 100.0 % 100.0 % At September 30, 2021 and December 31, 2020, the Company had the following 10 percent or greater concentrations of accounts receivable with its customers: 2021 2020 Amazon 12.6 % 11.4 % Costco 11.4 % 6.6 % All other 76.0 % 82.0 % Total 100.0 % 100.0 % Cash Equivalents
Accounts Receivable	Accounts Receivable 342,312 549,573
Inventories	Inventories 1,625,289 1,613,000
Property and Equipment	Property and Equipment
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets charges
Long-lived Asset Geographic Data	Long-lived Asset Geographic Data The following table sets forth long-lived asset information, which includes property and equipment and right-of-use assets and excludes goodwill and intangibles, where individual countries represent a significant portion of the total: Schedule of long-lived asset geographic data September 30, December 31, 2021 2020 United States $ 2,338,295 $ 694,697 Sweden 776,420 431,959 Finland 335,785 450,878 Long-lived assets related to foreign operations 1,112,205 882,837 Total long-lived assets-net $ 3,450,500 $ 1,577,534
Goodwill	Goodwill
Intangible assets	Intangible assets
Revenue Recognition	Revenue Recognition
Customer Advances	Customer Advances no
Advertising Costs	Advertising Costs 23.8 9.6
Research and Development	Research and Development 0.7 0.3
Foreign Currency Gain/Losses	Foreign Currency Gain/Losses 451,000 647,000 1,367,000 113,000 Chinese-Yuan Norwegian-Krone Swedish-Krona Finland-Euro
Fair Value of Financial Instruments	Fair Value of Financial Instruments Fair Value Measurements Level 1: Observable inputs such as quoted market prices in active markets for identical assets or liabilities. Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data. Level 3: Unobservable inputs for which there is little or no market data, which require the use of the reporting entity’s own assumptions. Other than these noted previously, the Company did not have any other assets or liabilities measured at fair value at September 30, 2021 and December 31, 2020.
Income Taxes	Income Taxes Accounting for Uncertain Income Tax Positions. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more-likely-than-not recognition threshold are measured as the largest amount of tax benefit that is more than 50 The Company has adopted ASC 740-10-25 Definition of Settlement,
Earnings per Share	Earnings per Share Schedule of anti-dilutive shares For the three months For the nine months 2021 2020 2021 2020 Net income $ 2,745,791 $ 4,753,603 $ 7,291,559 $ 6,857,988 Income per share: Basic $ 0.04 $ 0.07 $ 0.10 $ 0.10 Diluted $ 0.03 $ 0.06 $ 0.09 $ 0.09 Weighted average shares outstanding: Basic 74,609,195 70,473,351 73,758,731 70,184,071 Effect of dilutive shared based awards 3,864,671 4,374,888 4,023,728 3,340,138 Diluted 78,473,866 74,848,239 77,782,459 73,524,209
Share-Based Payments	Share-Based Payments 4.1
Cost of Sales	Cost of Sales
Operating Expenses	Operating Expenses
Shipping and Handling Costs	Shipping and Handling Costs 18.1 6.5
Recent Accounting Pronouncements	Recent Accounting Pronouncements The Company adopts all applicable, new accounting pronouncements as of the specified effective dates. In September 2016, the FASB issued ASU No. 2016-13, Financial Instruments – Credit Losses (Topic 326) (“ASU 2016-13”), which requires the immediate recognition of management’s estimates of current and expected credit losses. In November 2018, the FASB issued ASU 2018-19, which makes certain improvements to Topic 326. In April and May 2019, the FASB issued ASUs 2019-04 and 2019-05, respectively, which adds codification improvements and transition relief for Topic 326. In November 2019, the FASB issued ASU 2019-10, which delays the effective date of Topic 326 for Smaller Reporting Companies to interim and annual periods beginning after December 15, 2022, with early adoption permitted. In November 2019, the FASB issued ASU 2019-11, which makes improvements to certain areas of Topic 326. In February 2020, the FASB issued ASU 2020-02, which adds an SEC paragraph, pursuant to the issuance of SEC Staff Accounting Bulletin No. 119, to Topic 326. Topic 326 is effective for the Company for fiscal years and interim reporting periods within those years beginning after December 15, 2022. Early adoption is permitted for interim and annual periods beginning December 15, 2019. The Company is currently evaluating the potential impact of adopting this guidance on our consolidated financial statements. In December 2019, the Financial Accounting Standards Board (“FASB”) issued an accounting standard update on income taxes. The new guidance eliminates certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. It also clarifies and simplifies other aspects of the accounting for income taxes. The Company adopted this standard effective January 1, 2021. The adoption of this standard did not have a material impact on the Company's consolidated financial position, results of operations and cash flows. Except for the updates previously disclosed above, all new accounting pronouncements issued but not yet effective are not expected to have a material impact on our results of operations, cash flows or financial position.
Liquidity	Liquidity 48,135,273 7,291,559 52,063,949 If our sales volumes do not meet our projections, expenses exceed our expectations, or our plans change, we may be unable to generate enough cash flow from operations to cover our working capital requirements. In such case, we may be required to adjust our business plan, by reducing marketing, lower our working capital requirements and reduce other expenses or seek additional financing. Furthermore, our business and results of operations may be adversely affected by changes in the global macro-economic environment related to the pandemic and public health crises related to the COVID-19 outbreak. Correction of Immaterial Errors

BASIS OF PRESENTATION AND SUM_3

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
Schedule of revenue & accounts receivable with customers	Schedule of revenue & accounts receivable with customers 2021 2020 Amazon 10.0 % 16.6 % Costco 11.3 % 2.6 % All other 78.7 % 80.8 % Total 100.0 % 100.0 % At September 30, 2021 and December 31, 2020, the Company had the following 10 percent or greater concentrations of accounts receivable with its customers: 2021 2020 Amazon 12.6 % 11.4 % Costco 11.4 % 6.6 % All other 76.0 % 82.0 % Total 100.0 % 100.0 %
Schedule of long-lived asset geographic data	Schedule of long-lived asset geographic data September 30, December 31, 2021 2020 United States $ 2,338,295 $ 694,697 Sweden 776,420 431,959 Finland 335,785 450,878 Long-lived assets related to foreign operations 1,112,205 882,837 Total long-lived assets-net $ 3,450,500 $ 1,577,534
Schedule of anti-dilutive shares	Schedule of anti-dilutive shares For the three months For the nine months 2021 2020 2021 2020 Net income $ 2,745,791 $ 4,753,603 $ 7,291,559 $ 6,857,988 Income per share: Basic $ 0.04 $ 0.07 $ 0.10 $ 0.10 Diluted $ 0.03 $ 0.06 $ 0.09 $ 0.09 Weighted average shares outstanding: Basic 74,609,195 70,473,351 73,758,731 70,184,071 Effect of dilutive shared based awards 3,864,671 4,374,888 4,023,728 3,340,138 Diluted 78,473,866 74,848,239 77,782,459 73,524,209

REVENUE (Tables)

REVENUE (Tables)	9 Months Ended
	Sep. 30, 2021
Revenue
Schedule of net sales by reporting segment	Schedule of net sales by reporting segment For the nine months ended September 30, September 30, 2021 2020 North America $ 177,093,834 $ 67,083,888 Europe 30,695,477 26,799,756 Asia 1,861,130 868,915 Other 366,861 308,706 Net sales $ 210,017,302 $ 95,061,265

INVENTORIES (Tables)

INVENTORIES (Tables)	9 Months Ended
	Sep. 30, 2021
Inventory Disclosure [Abstract]
Schedule of inventories	Schedule of inventories September 30, December 31, 2021 2020 Finished goods $ 81,377,525 $ 15,334,386 Raw Materials 42,559,209 4,682,291 Less: Inventory allowance for excess and obsolete products (1,625,289 ) (1,613,055 ) Inventories $ 122,311,445 $ 18,403,622

NOTE RECEIVABLE (Tables)

NOTE RECEIVABLE (Tables)	9 Months Ended
	Sep. 30, 2021
Note Receivable
Schedule of note receivable	Schedule of note receivable September 30, December 31, 2021 2020 Note receivable-current $ 2,543,225 $ 1,885,887 Note receivable-non-current 6,993,869 9,429,437 Total Note receivable $ 9,537,094 $ 11,315,324

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2021
Leases
Schedule of components of lease costs	Schedule of components of lease costs Three months ended Three months ended September 30, September 30, Operating Finance Operating Finance Leases Leases Leases Leases Lease cost in general and administrative expenses: Operating lease expense $ 124,885 $ - $ 104,380 $ - Amortization of finance lease ROU assets - 34,129 - 49,713 Total lease cost in general and administrative expenses 124,885 34,129 104,380 49,713 Lease cost in other expense: Interest on finance lease liabilities - 2,397 - 21,530 Total lease cost in other expense - 2,397 - 21,530 Total lease cost $ 124,885 $ 36,526 $ 104,380 $ 71,243 Nine months ended Nine months ended September 30, September 30, Operating Finance Operating Finance Leases Leases Leases Leases Lease cost in general and administrative expenses: Operating lease expense $ 366,863 $ - $ 297,459 $ Amortization of finance lease ROU assets - 106,122 - 289,277 Total lease cost in general and administrative expenses 366,863 106,122 297,459 289,277 Lease cost in other expense: Interest on finance lease liabilities - 5,365 - 27,585 Total lease cost in other expense - 5,365 - 27,585 Total lease cost $ 366,863 $ 111,487 $ 297,459 $ 316,862
Schedule of cash flow information related to leases	Schedule of cash flow information related to leases Nine months ended September 30, 2021 2020 Leasing activity in cash flows from operating activities: Payments under operating leases (363,600 ) (185,388 ) Interest payments on finance lease liabilities (5,365 ) (27,585 ) Total leasing activity in cash flows from operating activities (368,965 ) (212,973 ) Leasing activity in cash flows from financing activities: Principal payments on finance lease liabilities (72,386 ) (259,231 ) Total leasing activity in cash flows from financing activities: (72,386 ) (259,231 )
Schedule of weighted average remaining lease term and weighted average discount rate	Schedule of weighted average remaining lease term and weighted average discount rate September 30, December 31, 2021 2020 Weighted average remaining lease term (years) - operating leases 2.4 2.6 Weighted average remaining lease term (years) - finance leases 0.8 1.1 Weighted average discount rate - operating leases 6.37 % 6.52 % Weighted average discount rate - finance leases 3.09 % 3.95 %
Schedule of future annual minimum cash payments required under operating lease	Schedule of future annual minimum cash payments required under operating lease Operating Finance Future minimum lease payments Leases Leases Total 2021 $ 107,567 $ 24,826 $ 132,393 2022 420,694 177,626 598,320 2023 381,537 46,983 428,520 2024 84,736 - 84,736 2025 5,387 - 5,387 Total future minimum lease payments 999,921 249,435 1,249,356 Less: Amount representing interest (72,772 ) (5,278 ) (78,050 ) Present value of lease liabilities 927,149 244,157 1,171,306 Less: current portion (376,602 ) (155,508 ) (532,110 ) Long-term portion $ 550,547 $ 88,649 $ 639,196

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2021
Property, Plant and Equipment [Abstract]
Schedule of property and equipment	Schedule of property and equipment September 30, December 31, 2021 2020 Property and equipment $ 3,498,603 $ 1,103,301 Less: accumulated depreciation (1,043,689 ) (523,924 ) Total $ 2,454,914 $ 579,377

GOODWILL AND INTANGIBLES (Table

GOODWILL AND INTANGIBLES (Tables)	9 Months Ended
	Sep. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of accumulated amortization of intangible assets	Schedule of accumulated amortization of intangible assets September 30, December 31, 2021 2020 Definite-lived intangible assets Customer relationships $ 14,525,741 $ 14,050,000 Less: accumulated amortization (978,275 ) (582,917 ) Definite-lived intangible assets, net $ 13,547,466 $ 13,467,083 Indefinite-lived intangible assets Brands $ 3,264,296 $ 3,123,000 Total Intangibles $ 16,811,762 $ 16,590,083
Schedule future estimated amortization expense	Schedule future estimated amortization expense As of September 30, 2021: 2021 $ 117,000 2022 562,000 2023 562,000 2024 562,000 2025 562,000 Thereafter 11,182,466 Total Total $ 13,547,466

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Tables)	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Schedule of accounts payable and accrued expenses	Schedule of accounts payable and accrued expenses September 30, December 31, 2021 2020 Accounts payable $ 41,097,808 $ 11,854,421 Accrued expenses 29,056,893 7,997,269 Accrued promotional allowances 21,776,892 5,561,063 Total $ 91,931,593 $ 25,412,753

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Payables and Accruals [Abstract]
Schedule of other current liabilities	Schedule of other current liabilities September 30, December 31, 2021 2020 Other Liabilities-State Beverage Container Deposit $ 957,627 $ 425,232 Total $ 957,627 $ 425,232

STOCK-BASED COMPENSATION (Table

STOCK-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2021
Share-based Payment Arrangement [Abstract]
Schedule of black - scholes option-pricing model valuation assumption	Schedule of black - scholes option-pricing model valuation assumption Nine months ended 2021 2020 Expected volatility 69.18 81.11 % 69.18 81.11 % Expected term 4.49 5 4.84 5 Risk-free interest rate 0.32 1.39 % 0.23 1.39 % Forfeiture Rate 0.00 % 0.00 %
Schedule of outstanding stock options	Schedule of outstanding stock options Weighted Average Weighted Shares Exercise Grant Date Fair Aggregate Intrinsic Average Remaining (000’s) Price Value Value (000’s) Term (Yrs) Options At December 31, 2020 5,198 $ 4.23 $ 240,866 6.89 Granted 305 $ 42.37 $ 30.32 Exercised (1,292 ) $ 3.84 $ 73.91 $ 72,192 Forfeiture and cancelled (242 ) $ 6.71 At September 30, 2021 3,969 $ 7.13 $ 329,231 6.32 Exercisable at September 30, 2021 2,271 $ 4.09 $ 195,273 5.02
Schedule of employee stock options outstanding	Schedule of employee stock options outstanding Outstanding Options Vested Options Number Number Outstanding Weighted Weighted Exercisable Weighted Weighted Range of at Averaged Averaged at Averaged Averaged Exercise September 30, Remaining Exercise September 30, Exercise Remaining Price 2021 (000’s) Life Price 2021 (000’s) Price Life $0.20 - $0.53 20 2.33 $ 0.34 20 $ 0.34 2.33 $0.65 - $1.80 100 3.41 $ 1.05 100 $ 1.05 3.41 $1.83 - $2.84 112 4.27 $ 1.97 112 $ 1.97 4.27 $3.20 - $6.20 3,354 6.17 $ 4.10 2.019 4.29 5.13 $7.20-$60.00 383 9.18 37.04 20 14.53 8.84 Outstanding options 3,969 6.32 $ 7.13 2.271 $ 4.09 5.02
Schedule of restricted stock activity	Schedule of restricted stock activity For the nine months ended September 30, September 30, Weighted Weighted Average Average Grant Date Grant Date Shares Fair Value Shares Fair Value Unvested at beginning of period 66,229 $ 28.11 90,000 $ 3.23 Transfers to restricted stock units (45,871 ) 34.02 - - Granted 92,444 14.72 Vested (19,429 ) 14.79 (18,582 ) 14.72 Forfeiture and cancelled (671 ) 14.72 - - Unvested at end of period 258 $ 14.72 163,862 $ 8.41 The total fair value of shares vested during the nine months ended September 30, 2021 and 2020 was $ 1.3 0.5 1,600 10 Restricted Stock Units Restricted stock units are awards that give the holder the right to receive one share of common stock for each restricted stock unit upon meeting service-based vesting conditions (typically annual vesting in three equal annual installments, with a requirement that the holder remains in the continuous employment of the Company). The holders of unvested units do not have the same rights as shareholders including but not limited to any dividends which may be declared by the Company, and do not have the right to vote. The value of restricted stock units that vest over time is established by the market price on the date of its grant. A summary of the Company’s restricted stock unit activity for the nine months ended September 30, 2021 and 2020 is presented in the following table: For the nine months ended September 30, September 30, Weighted Weighted Average Average Grant Date Grant Date Shares Fair Value Shares Fair Value Unvested at beginning of period - $ - - $ - Transfers from restricted stock awards 45,871 34.02 - Granted 546,525 52.27 - - Vested (1,334 ) 69.63 - - Forfeiture and cancelled (14,900 ) 50.67 Unvested at end of period 576,162 $ 50.82 - $ -

BASIS OF PRESENTATION AND SUM_4

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	9 Months Ended		12 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Revenue Benchmark [Member]
Product Information [Line Items]
Total	100.00%	100.00%
Revenue Benchmark [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Total	10.00%	16.60%
Revenue Benchmark [Member] | Customer Concentration Risk Two [Member]
Product Information [Line Items]
Total	11.30%	2.60%
Revenue Benchmark [Member] | Customer Concentration Risk Three [Member]
Product Information [Line Items]
Total	78.70%	80.80%
Accounts Receivable [Member]
Product Information [Line Items]
Total	100.00%		100.00%
Accounts Receivable [Member] | Customer Concentration Risk [Member]
Product Information [Line Items]
Total	12.60%		11.40%
Accounts Receivable [Member] | Customer Concentration Risk Two [Member]
Product Information [Line Items]
Total	11.40%		6.60%
Accounts Receivable [Member] | Customer Concentration Risk Three [Member]
Product Information [Line Items]
Total	76.00%		82.00%

BASIS OF PRESENTATION AND SUM_5

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 1) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Total long-lived assets	$ 1,112,205	$ 882,837
Long-lived assets related to foreign operations	3,450,500	1,577,534
UNITED STATES
Total long-lived assets	2,338,295	694,697
SWEDEN
Long-lived assets related to foreign operations	776,420	431,959
FINLAND
Long-lived assets related to foreign operations	$ 335,785	$ 450,878

BASIS OF PRESENTATION AND SUM_6

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details 2) - USD ($)		3 Months Ended		9 Months Ended
		Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Accounting Policies [Abstract]
Net income		$ 2,745,791	$ 4,753,603	$ 7,291,559	$ 6,857,988
Income per share:
Basic		$ 0.04	$ 0.07	$ 0.10	$ 0.10
Diluted		$ 0.03	$ 0.06	$ 0.09	$ 0.09
Weighted average shares outstanding:
Basic		74,609,195	70,473,351	73,758,731	70,184,071
Effect of dilutive shared based awards		3,864,671	4,374,888	4,023,728	3,340,138
Diluted	[1]	78,473,866	74,848,239	77,782,459	73,524,209
[1]	Please refer to Earnings Per Share section for further details.

BASIS OF PRESENTATION AND SUM_7

BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative)	3 Months Ended		9 Months Ended
	Sep. 30, 2021USD ($)shares	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)shares	Sep. 30, 2020USD ($)	Dec. 31, 2020USD ($)
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 342,312		$ 342,312		$ 549,573
Inventory reserve	1,625,289		1,625,289		1,613,000
Customer advances	$ 0		0		0
Advertising expense			23,800,000	$ 9,600,000
Research and development expense			700,000	300,000
Exchange losses			451,000
Recognized foreign currency gains			647,000
Foreign Currency Translation			$ 1,367,000	113,000
Income tax benefit			0.50
Number of shares available | shares	4,100,000		4,100,000
Freight expense			$ 18,100,000	6,500,000
Accumulated deficit	$ 48,135,273		48,135,273		$ 55,426,832
Net income	$ 2,745,791	$ 4,753,603	7,291,559	6,857,988
Net cash used in operating activities			$ 52,063,949	$ (3,843,510)

REVENUE (Details)

REVENUE (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Net sales	$ 94,909,100	$ 36,839,149	$ 210,017,302	$ 95,061,265
North America [Member]
Net sales			177,093,834	67,083,888
Europe [Member]
Net sales			30,695,477	26,799,756
Asia [Member]
Net sales			1,861,130	868,915
Other [Member]
Net sales			$ 366,861	$ 308,706

REVENUE (Details Narrative)

REVENUE (Details Narrative) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Revenues	$ 94,909,100	$ 36,839,149	$ 210,017,302	$ 95,061,265
License Agreement [Member]
Revenues			$ 570,000,000
Term of agreement			The term of the agreement is 50 years, with annual royalty fees due from Qifeng after the end of each calendar year. The royalty fees are based on a percentage of Qifeng’s sales of Celsius branded products; however, the fees are fixed for the first five years of the agreement, totaling approximately $6.6 million, and then are subject to annual guaranteed minimums over the remaining term of the agreement.
Royalty fees			$ 6,600,000
Foreign Revenues [Member]
Revenues			32,900,000	28,000,000
Foreign Revenues [Member] | SWEDEN
Revenues			$ 21,100,000	$ 19,200,000

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Finished goods	$ 81,377,525	$ 15,334,386
Raw Materials	42,559,209	4,682,291
Less: Inventory allowance for excess and obsolete products	(1,625,289)	(1,613,055)
Inventories	$ 122,311,445	$ 18,403,622

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details Narrative) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Prepaid Expenses And Other Current Assets
Prepaid Expense and Other Assets, Current	$ 22,829,510	$ 14,626,922
Customer advances	$ 8,200,000

NOTE RECEIVABLE (Details)

NOTE RECEIVABLE (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Note Receivable
Note receivable-current	$ 2,543,225	$ 1,885,887
Note receivable-non-current	6,993,869	9,429,437
Total Note receivable	$ 9,537,094	$ 11,315,324

NOTE RECEIVABLE (Details Narrat

NOTE RECEIVABLE (Details Narrative)	9 Months Ended
	Sep. 30, 2021USD ($)shares
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Note Receivable description	Scheduled principal payments plus accrued interest are due annually on March 31 of each year starting in 2020. The Note is recorded at amortized cost basis and accrues interest at a rate per annum equal to the weighted average of 5% of the outstanding principal up to $5 million and 2% of the outstanding principal above $5 million.
Weighted average interest rate	3.21%
Interest income	$ 240,000,000
Instalment collateral shares | shares	272,830
Investment Agreement [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Payment for royalty fees	$ 6,600,000

LEASES (Details)

LEASES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Operating Leases [Member]
Operating lease expense	$ 124,885	$ 104,380	$ 366,863	$ 297,459
Amortization of finance lease ROU assets
Total lease cost in general and administrative expenses	124,885	104,380	366,863	297,459
Interest on finance lease liabilities
Total lease cost in other expense
Total lease cost	124,885	104,380	366,863	297,459
Finance Leases [Member]
Operating lease expense
Amortization of finance lease ROU assets	34,129	49,713	106,122	289,277
Total lease cost in general and administrative expenses	34,129	49,713	106,122	289,277
Interest on finance lease liabilities	2,397	21,530	5,365	27,585
Total lease cost in other expense	2,397	21,530	5,365	27,585
Total lease cost	$ 36,526	$ 71,243	$ 111,487	$ 316,862

LEASES (Details 1)

LEASES (Details 1) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Leases
Payments under operating leases	$ (363,600)	$ (185,388)
Interest payments on finance lease liabilities	(5,365)	(27,585)
Total leasing activity in cash flows from operating activities	(368,965)	(212,973)
Principal payments on finance lease liabilities	(72,386)	(259,231)
Total leasing activity in cash flows from financing activities:	$ (72,386)	$ (259,231)

LEASES (Details 2)

LEASES (Details 2)	Sep. 30, 2021	Dec. 31, 2020
Operating Leases [Member]
Weighted average remaining lease term (years)	2 years 4 months 24 days	2 years 7 months 6 days
Weighted average discount rate	6.37%	6.52%
Finance Leases [Member]
Weighted average remaining lease term (years)	9 months 18 days	1 year 1 month 6 days
Weighted average discount rate	3.09%	3.95%

LEASES (Details 3)

LEASES (Details 3)	Sep. 30, 2021USD ($)
2021	$ 132,393
2022	598,320
2023	428,520
2024	84,736
2025	5,387
Total future minimum lease payments	1,249,356
Less: Amount representing interest	(78,050)
Present value of lease liabilities	1,171,306
Less: current portion	(532,110)
Long-term portion	639,196
Operating Leases [Member]
2021	107,567
2022	420,694
2023	381,537
2024	84,736
2025	5,387
Total future minimum lease payments	999,921
Less: Amount representing interest	(72,772)
Present value of lease liabilities	927,149
Less: current portion	(376,602)
Long-term portion	550,547
Finance Leases [Member]
2021	24,826
2022	177,626
2023	46,983
2024
2025
Total future minimum lease payments	249,435
Less: Amount representing interest	(5,278)
Present value of lease liabilities	244,157
Less: current portion	(155,508)
Long-term portion	$ 88,649

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Property, Plant and Equipment [Abstract]
Property and equipment	$ 3,498,603	$ 1,103,301
Less: accumulated depreciation	(1,043,689)	(523,924)
Total	$ 2,454,914	$ 579,377

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 519,765	$ 82,180

GOODWILL AND INTANGIBLES (Detai

GOODWILL AND INTANGIBLES (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Definite-lived intangible assets
Customer relationships	$ 14,525,741	$ 14,050,000
Less: accumulated amortization	(978,275)	(582,917)
Definite-lived intangible assets, net	13,547,466	13,467,083
Indefinite-lived intangible assets
Brands	3,264,296	3,123,000
Total Intangibles	$ 16,811,762	$ 16,590,083

GOODWILL AND INTANGIBLES (Det_2

GOODWILL AND INTANGIBLES (Details 1)	Sep. 30, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 117,000
2022	562,000
2023	562,000
2024	562,000
2025	562,000
Thereafter	11,182,466
Total	$ 13,547,466

GOODWILL AND INTANGIBLES (Det_3

GOODWILL AND INTANGIBLES (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets, Net (Including Goodwill)	$ 14,851,635
Amortized over estimated useful life	25 years
Amortization expense	$ 445,000	$ 429,000

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED EXPENSES (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Accounts payable	$ 41,097,808	$ 11,854,421
Accrued expenses	29,056,893	7,997,269
Accrued promotional allowances	21,776,892	5,561,063
Total	$ 91,931,593	$ 25,412,753

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Other Liabilities-State Beverage Container Deposit	$ 957,627	$ 425,232
Total	$ 957,627	$ 425,232

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details Narrative)	9 Months Ended
	Sep. 30, 2021USD ($)
CD Financial, LLC [Member] | Majority Shareholder [Member] | Building [Member]
Related Party Transaction [Line Items]
Monthly expense	$ 17,295

STOCKHOLDERS_ EQUITY (Details N

STOCKHOLDERS’ EQUITY (Details Narrative) - USD ($)	Jun. 14, 2021	Jun. 09, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Aug. 25, 2021	Aug. 25, 2020
Subsidiary, Sale of Stock [Line Items]
Proceeds from Options exercised				$ 3,242,073	$ 2,296,343
Number of options exercised				1,292
Sales of common stock		6,518,267
Share price		$ 0.001
Public offering price		$ 62.50
Additional share purchase		977,740
Proceeds from sale of common stock			$ 21,983,116
Private Placement [Member]
Subsidiary, Sale of Stock [Line Items]
Shares issued							1,437,909
Cash received						$ 22,000,000
Selling Stockholders [Member]
Subsidiary, Sale of Stock [Line Items]
Sales of common stock	6,257,455
Proceeds from sale of common stock	$ 375,447,300
Company [Member]
Subsidiary, Sale of Stock [Line Items]
Sales of common stock	133,953
Proceeds from sale of common stock	$ 67,769,386
Stock Incentive Plan 2015 [Member]
Subsidiary, Sale of Stock [Line Items]
Number of option shares granted				1,349,142	1,272,336
Proceeds from Options exercised				$ 3,242,073	$ 2,296,343
Number of options exercised				826,994	875,576
Shares issued				4,000,000

INCOME TAXES (Details Narrative

INCOME TAXES (Details Narrative)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Effective Income Tax Rate Reconciliation, Tax Credit, Percent	10.20%
Effective Income Tax Rate Reconciliation, State and Local Income Taxes, Percent	21.00%

STOCK-BASED COMPENSATION (Detai

STOCK-BASED COMPENSATION (Details)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Forfeiture Rate	0.00%	0.00%
Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	69.18%	69.18%
Risk-free interest rate	4 years 5 months 26 days	4 years 10 months 2 days
Risk-free interest rate	0.32%	0.23%
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected volatility	81.11%	81.11%
Risk-free interest rate	5 years	5 years
Risk-free interest rate	1.39%	1.39%

STOCK-BASED COMPENSATION (Det_2

STOCK-BASED COMPENSATION (Details 1)	9 Months Ended
	Sep. 30, 2021USD ($)$ / sharesshares
Share-based Payment Arrangement [Abstract]
Options outstanding Balance at beginning | shares	5,198
Weighted Average Exercise Price, Balance at beginning	$ 4.23
Aggregate Intrinsic Value Balance at beginning | $	$ 240,866
Weighted Average Remaining Term Beginning Balance	6 years 10 months 20 days
Options outstanding, Granted | shares	305
Weighted Average Exercise Price, Granted	$ 42.37
Weighted Average Grant Date Fair Value Granted	$ 30.32
Options outstanding, Exercised | shares	(1,292)
Weighted Average Exercise Price, Exercised	$ 3.84
Weighted Average Grant Date Fair Value Exercised	$ 73.91
Aggregate Intrinsic Value Exercised | $	$ 72,192
Options outstanding, Forfeiture and cancelled | shares	(242)
Weighted Average Exercise Price, Forfeiture and cancelled	$ 6.71
Options outstanding, Balance at end | shares	3,969
Weighted Average Exercise Price, Balance at end	$ 7.13
Aggregate Intrinsic Value Balance at end | $	$ 329,231
Weighted Average Remaining Term Ending Balance	6 years 3 months 25 days
Options outstanding, Exercisable at end | shares	2,271
Weighted Average Exercise Price, Exercisable at end	$ 4.09
Aggregate Intrinsic Value Exercisable | $	$ 195,273
Weighted Average Remaining Term, exercisable	5 years 7 days

STOCK-BASED COMPENSATION (Det_3

STOCK-BASED COMPENSATION (Details 2)	9 Months Ended
	Sep. 30, 2021$ / sharesshares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding at end | shares	3,969
Weighted Averaged Remaining Life	6 years 3 months 25 days
Weighted Averaged Exercise Price | $ / shares	$ 7.13
Number Exercisable at end | shares	2.271
Weighted Averaged Exercise Price | $ / shares	$ 4.09
Weighted Averaged Remaining Life	5 years 7 days
Range Of Exercise Price 1 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding at end | shares	20
Weighted Averaged Remaining Life	2 years 3 months 29 days
Weighted Averaged Exercise Price | $ / shares	$ 0.34
Number Exercisable at end | shares	20
Weighted Averaged Exercise Price | $ / shares	$ 0.34
Weighted Averaged Remaining Life	2 years 3 months 29 days
Range Of Exercise Price 2 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding at end | shares	100
Weighted Averaged Remaining Life	3 years 4 months 28 days
Weighted Averaged Exercise Price | $ / shares	$ 1.05
Number Exercisable at end | shares	100
Weighted Averaged Exercise Price | $ / shares	$ 1.05
Weighted Averaged Remaining Life	3 years 4 months 28 days
Range Of Exercise Price 3 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding at end | shares	112
Weighted Averaged Remaining Life	4 years 3 months 7 days
Weighted Averaged Exercise Price | $ / shares	$ 1.97
Number Exercisable at end | shares	112
Weighted Averaged Exercise Price | $ / shares	$ 1.97
Weighted Averaged Remaining Life	4 years 3 months 7 days
Range Of Exercise Price 4 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding at end | shares	3,354
Weighted Averaged Remaining Life	6 years 2 months 1 day
Weighted Averaged Exercise Price | $ / shares	$ 4.10
Number Exercisable at end | shares	2.019
Weighted Averaged Exercise Price | $ / shares	$ 4.29
Weighted Averaged Remaining Life	5 years 1 month 17 days
Range Of Exercise Price 5 [Member]
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Number Outstanding at end | shares	383
Weighted Averaged Remaining Life	9 years 2 months 4 days
Weighted Averaged Exercise Price | $ / shares	$ 37.04
Number Exercisable at end | shares	20
Weighted Averaged Exercise Price | $ / shares	$ 14.53
Weighted Averaged Remaining Life	8 years 10 months 2 days

STOCK-BASED COMPENSATION (Det_4

STOCK-BASED COMPENSATION (Details 3) - $ / shares	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at beginning of period	66,229	90,000
Unvested at beginning of period (in Dollars per share)	$ 28.11	$ 3.23
Transfers to restricted stock units	(45,871)
Restricted stock Transfers to restricted stock units(in Dollars per share)	$ 34.02
Granted		92,444
Restricted stock granted (in Dollars per share)		$ 14.72
Vested	(19,429)	(18,582)
Restricted stock vested (in Dollars per share)	$ 14.79	$ 14.72
Forfeiture and cancelled	(671)
Restricted stock Forfeiture and cancelled (in Dollars per share)	$ 14.72
Forfeiture and cancelled	671
Unvested at end of period	258	163,862
Unvested at end of period (in Dollars per share)	$ 14.72	$ 8.41
Vested	19,429	18,582
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested at beginning of period
Unvested at beginning of period (in Dollars per share)
Transfers to restricted stock units	45,871
Restricted stock Transfers to restricted stock units(in Dollars per share)	$ 34.02
Granted	546,525
Restricted stock granted (in Dollars per share)	$ 52.27
Vested	(1,334)
Restricted stock vested (in Dollars per share)	$ 69.63
Forfeiture and cancelled	(14,900)
Restricted stock Forfeiture and cancelled (in Dollars per share)	$ 50.67
Forfeiture and cancelled	14,900
Unvested at end of period	576,162
Unvested at end of period (in Dollars per share)	$ 50.82
Vested	1,334

STOCK-BASED COMPENSATION (Det_5

STOCK-BASED COMPENSATION (Details Narrative) - USD ($)	1 Months Ended		3 Months Ended	9 Months Ended
	Apr. 30, 2015	Jan. 18, 2007	Mar. 30, 2021	Sep. 30, 2021	Sep. 30, 2020	Feb. 28, 2015	May 31, 2014	Dec. 31, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available				4,100,000
Average share price (in dollars per share) (in Dollars per share)				$ 42.37
Fair value of shares vested				$ 1,300,000	$ 500,000
Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period unrecognized pre-tax non-cash compensation expense				10 months
Unrecognized compensation expense				$ 1,600
Restricted Stock Units (RSUs) [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Period unrecognized pre-tax non-cash compensation expense				2 years 7 months 6 days
Unrecognized compensation expense				$ 20,800,000
Equity Option [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized pre-tax non-cash compensation expense (in Dollars)				$ 9,100,000
Period unrecognized pre-tax non-cash compensation expense				2 years 1 month 6 days
Vested [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fair value of shares vested				$ 90,000
General and Administrative Expense [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-cash compensation expense (in Dollars)				$ 13,400,000	$ 4,700,000
Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock incentive plan, description			The Company used straight-line amortization of compensation expense over the two to three-year requisite service or vesting period of the grant. The Company recognizes forfeitures as they occur. There are options to purchase approximately 2.27 million shares that have vested as of September 30, 2021.
Stock Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Plan expiration term		10 years
Stock Incentive Plan [Member] | Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	4,600,000					4,250,000	3,500,000	2,500,000
Stock Incentive Plan [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	5,100,000					4,600,000	4,250,000	3,500,000
Stock Incentive Plan 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized	5,000,000
Stock incentive plan, description	In addition, there is a provision for an annual increase of 15% of the shares pertaining to the 2015 plan that are outstanding
Number of shares available				4,100,000
Issued options shares				4,000,000
Average share price (in dollars per share) (in Dollars per share)				$ 7.13
Fair value of shares issued (in Dollars)				$ 3,290,000
Purchase of common shares				304,750	495,274