Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

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ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 3 Months Ended
Mar. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of components of inventory

As of March 31, 2017 and December 31, 2016, the components of inventories were as follows:

 

    March 31,
2017		     December 31,
2016		  
    (unaudited)        
Raw materials   $ 3,570,387     $ 3,302,818  
Finished goods     2,238,308       1,786,773  
      5,808,695       5,089,591  
Less: Inventory reserve     (250,000 )     (250,000 )
Total Inventories, net   $ 5,558,695     $ 4,839,591  
Schedule of reconciliation of the product warranty liability

The following is a tabular reconciliation of the product warranty liability, excluding the deferred revenue related to the Company’s warranty coverage:

 

    March 31,
2017		     December 31,
2016		  
Changes in estimates for warranties   (unaudited)        
Balance at beginning of the period   $ 175,000     $ 25,000  
Payments     (32,180 )     (135,457 )
Provision for warranties     32,180       285,457  
                 
Balance at end of the period   $ 175,000     $ 175,000