XML 25 R14.htm IDEA: XBRL DOCUMENT v3.21.1
Inventories
3 Months Ended
Mar. 31, 2021
Inventory Disclosure [Abstract]  
Inventories

Note 7Inventories

As of March 31, 2021 and December 31, 2020, inventories consisted of the following:  


 

 

March 31, 2021

 

 

December 31, 2020

 

Raw materials

 

$

981,452

 

 

$

1,008,653

 

Work in process

 

 

 4,367,610

 

 

 

4,304,415

 

Finished goods

 

 

273,666

 

 

 

428,549

 

Total inventory

 

 

5,622,728

 

 

 

5,741,617

 

Less: noncurrent

 

 

4,678,013

 

 

4,865,181

Total - current

 

$

944,715

 

 

$

876,436

 

 

The reserve for obsolete inventory was $721,426 as of March 31, 2021 and December 31, 2020. The Company records charges for obsolete inventory in cost of goods sold. As of March 31, 2021 and December 31, 2020, noncurrent inventory was comprised of approximately $0.8 million and $0.7 million of raw materials, respectively, and $3.9 million and $4.2 million of work in process, respectively.