Inventories

3 Months Ended

Mar. 31, 2016

Inventories [Abstract]

INVENTORIES

NOTE 3 – INVENTORIES

At March 31, 2016 and December 31, 2015, inventories consisted of the following:

	March 31, 2016			December 31, 2015
Raw materials	$	957,577		$	690,824
Work-in-process		820,154			1,593,815
Finished goods		1,391,058			635,771
		3,168,789			2,920,410
Less: reserve for obsolete inventories		(1,100,583	)		(1,093,326	)
	$	2,068,206		$	1,827,084

The Company establishes a reserve to mark down its inventories for estimated unmarketable inventories equal to the difference between the cost of inventories and the estimated net realizable value based on assumptions about the usability of the inventories, future demand and market conditions. For the three months ended March 31, 2016 and 2015, the Company did not make any change for reserve for obsolete inventories.