Annual report pursuant to Section 13 and 15(d)

Inventory

Inventory

12 Months Ended

Dec. 31, 2013

Inventories at December 31, 2013 and 2012 consisted of the following.



	2013			2012
Gross raw materials	$	3,539,732		$	3,574,620
Less - reserves	(300,000		)	(332,000		)
Net raw materials	3,239,732			3,242,620
Work-in-process	104,061			114,002
Finished goods	—			—
	$	3,343,793		$	3,356,622

- 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