Annual report pursuant to Section 13 and 15(d)

Inventory

Inventory

12 Months Ended

Dec. 31, 2014

Inventories at December 31, 2014 and 2013 consisted of the following.



	2014			2013
Gross raw materials	$	4,348,786		$	3,539,732
Less - reserves	(300,000		)	(300,000		)
Net raw materials	4,048,786			3,239,732
Work-in-process	22,250			104,061
Finished goods	19,185			—
	$	4,090,221		$	3,343,793

- 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