Annual report pursuant to Section 13 and 15(d)

Inventories

v3.7.0.1
Inventories
 12 Months Ended
Dec. 31, 2016
Inventory Disclosure [Abstract]  
Inventories
Inventories
 
Inventories, net consisted of the following:
 
 
 
December 31,
 
 
2016
 
2015
Raw materials
 
$
363,195

 
$
124,498

Finished goods
 
941,921

 
527,785

 
 
1,305,116

 
652,283

Reserve for obsolescence
 
(59,969
)
 
(4,274
)
 
 
$
1,245,147

 
$
648,009



In 2016, the Company recorded a charge of $334,889 for excess and obsolete inventory in connection with the end-of-life of the Company’s IBC-30 battery converter. The cash component of the charge is primarily related to excess IBC-30 component inventory held by the Company's contract manufacturer and amounted to $297,985.