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)
 9 Months Ended
Sep. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of components of inventory

As of September 30, 2017 and December 31, 2016, the components of inventories were as follows:

 

   

September 30,  

2017 

(unaudited)  

    

December 31, 

2016 

  
Raw materials   $ 2,568,473     $ 3,302,818  
Finished goods     2,957,853       1,786,773  
      5,526,326       5,089,591  
Less: Inventory reserve     (250,000 )     (250,000 )
Total Inventories, net   $ 5,276,326     $ 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:

 

Changes in estimates for warranties  

September 30, 

2017 

(unaudited) 

    

December 31, 

2016 

  
Balance at beginning of the period   $ 175,000     $ 25,000  
Payments     (114,600 )     (135,457 )
Provision for warranties     114,600       285,457  
Balance at end of the period   $ 175,000     $ 175,000