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Note 6 - Inventory
9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Inventory Disclosure [Text Block]

6.

INVENTORY

 

Inventory is stated at the lower of cost, determined on a first in, first out basis, or realizable value. The Company periodically evaluates inventory items and establishes reserves for obsolescence accordingly. The Company also reserves for excess quantities, slow moving goods, and for other impairment of value based upon assumptions of future demand and market conditions. The $400,000 reserve on inventory is due to slow moving inventory purchased for projects in Nigeria. The Company is exploring other markets and opportunities to sell or return the product. Inventory is comprised of the following as of:

 

  

September 30,

  

December 31,

 
  

2023

  

2022

 
         

Finished goods

 $4,619,487  $4,764,643 

Fabricated assemblies

  69,726   69,726 

Reserve on finished goods

  (400,000)  (400,000)

Total inventory

 $4,289,213  $4,434,369