Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.7.0.1
Inventories
 6 Months Ended
Jun. 30, 2017
Inventory Disclosure [Abstract]  
Inventories
Inventories
 
Inventories, net consisted of the following:
 
 
June 30, 2017
 
December 31,
2016
 
 
(unaudited)
 
 
Raw materials
 
$
288,650

 
$
363,195

Finished goods
 
149,055

 
941,921

 
 
437,705

 
1,305,116

Reserve for obsolescence
 
(71,170
)
 
(59,969
)
 
 
$
366,535

 
$
1,245,147


  
During the six months ended June 30, 2017, the Company recorded a non-cash inventory charge of $712,083, of which$708,204 is related to excess finished goods inventory of its legacy 125kW battery converter and its end-of-life IBC-30 battery converter and is reflected within the cost of product revenue line item of the statement of operations.