Count only items in cell with black font

Hello all

I found this formula and it works great, but I need to count only items with black font. We use red font to identify lost items so don't want to count them as part of our inventory. Any help would be appreciated!!

Thanks,
Andrew

Formula to count the number of words separated by a character in a cell
The following formula counts the number of words in a cell that are separated by a specific character:

=IF(LEN(TRIM(<cell_ref>))=0,0,LEN(<cell_ref>)- LEN(SUBSTITUTE(<cell_ref>,<char>,""))+1)

where <cell_ref> is the cell reference and <char> is the character separating the words.

My formula:

=IF(LEN(TRIM(E4))=0,0,LEN(E4)- LEN(SUBSTITUTE(E4,",",""))+1)