INVENTORIES, NET

3 Months Ended

Mar. 31, 2013

NOTE 3- INVENTORIES, NET

Inventories are summarized as follows (in thousands):

	March 31, 2013		December 31, 2012

Work in Process	$	1,423	$	2,155
Parts and supplies		4,906		4,178
Finished goods		5,551		7,144
		11,880		13,477
Less - inventory reserve		(2,261)		(2,325)
Inventories, net	$	9,619	$	11,152

Changes in the Company's inventory reserve are as follows (in thousands):

	March 31, 2013
Balance opening period	$	2,326
Current provision for Jonway Auto		-
Current provision for inventory ZAP-net		(65)
Balance end of period	$	2,261

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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