Annual report pursuant to Section 13 and 15(d)

Inventory

Inventory

12 Months Ended

Dec. 31, 2012

Inventories at December 31, 2012 and 2011 consisted of the following.



	2012			2011
Gross raw materials	$	3,574,620		$	2,701,496
Less - reserves	(332,000		)	(358,800		)
Net raw materials	3,242,620			2,342,696
Work-in-process	114,002			119,640
Finished goods	—			106,650
	$	3,356,622		$	2,568,986

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

+ References + Details