Quarterly report pursuant to Section 13 or 15(d)

ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.7.0.1
ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
 6 Months Ended
Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Schedule of components of inventory

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

  

   

June 30,

2017

(unaudited)

    

December 31,

2016

  
Raw materials   $ 2,736,512     $ 3,302,818  
Finished goods     3,250,157       1,786,773  
      5,986,669       5,089,591  
Less: Inventory reserve     (250,000 )     (250,000 )
Total Inventories, net   $ 5,736,669     $ 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   June 30,
2017
(unaudited)		    

December 31,

2016

  
Balance at beginning of the period   $ 175,000     $ 25,000  
Payments     (116,923 )     (135,457 )
Provision for warranties     116,923       285,457  
Balance at end of the period   $ 175,000     $ 175,000