Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.8.0.1
Inventories
 9 Months Ended
Sep. 30, 2017
Inventory Disclosure [Abstract]  
Inventories
Inventories
 
Inventories, net consisted of the following:
 
 
September 30, 2017
 
December 31,
2016
 
 
(unaudited)
 
 
Raw materials
 
$
251,892

 
$
363,195

Finished goods
 
138,446

 
941,921

 
 
390,338

 
1,305,116

Reserve for obsolescence
 
(62,877
)
 
(59,969
)
 
 
$
327,461

 
$
1,245,147


  
During the nine months ended September 30, 2017, the Company recorded a non-cash inventory charge of $703,220, of which $699,243 is related to excess finished goods inventory of its end-of-life, legacy 125kW and IBC-30 battery converters and is reflected within the cost of product revenue line item of the statement of operations.