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Inventories

6 Months Ended

Jun. 30, 2013

NOTE 3 - INVENTORIES

At June 30, 2013 and December 31, 2012, inventories consisted of the following:

	June 30, 2013			December 31, 2012
Raw materials	$	1,767,001		$	1,685,493
Work in process		2,313,621			2,602,990
Finished goods		1,554,424			1,745,052
		5,635,046			6,033,535
Less: reserve for obsolete inventory		(138,791	)		(135,980	)
	$	5,496,255		$	5,897,555

For the three and six months ended June 30, 2013 and 2012, the Company did not make any change for reserve for obsolete inventory.

- 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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