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)
 6 Months Ended
Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of components of inventory

As of June 30, 2018 and December 31, 2017, the components of inventories were as follows:

 

   

June 30, 

2018  

(unaudited)

     December 31,
2017 		 
             
Raw materials   $ 4,049,818     $ 2,716,392  
Finished goods     2,565,227       3,100,661  
      6,615,045       5,817,053  
Less: Inventory reserve     (330,000 )     (330,000 )
Total Inventories, net   $ 6,285,045     $ 5,487,053  
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:

 

Changes in estimates for warranties  

June 30, 

2018 

(unaudited)

    

December 31, 

2017

  
Balance at beginning of the period   $ 175,000     $ 175,000  
Payments     (85,153 )     (364,463 )
Provision for warranties     85,153       364,163  
Balance at end of the period   $ 175,000     $ 175,000  
Schedule of anti-dilutive

The following potentially dilutive shares were excluded from the shares used to calculate diluted earnings per share as their inclusion would be anti-dilutive:

 

     

June 30, 

2018 

(Unaudited)

    

June 30, 

2017
(Unaudited)

  
Options       360,000       —  
Warrants       115,000       115,000  
Total       475,000       115,000