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-RELATED PARTY
12 Months Ended
Dec. 31, 2015
-RELATED PARTY [Abstract]  
-RELATED PARTY

NOTE 9 -RELATED PARTY

 

Sale of Fixed Assets and Inventory

 

As part of the Company's decision to eliminate its lease obligations by vacating its facilities, certain fully depreciated equipment no longer being utilized, which was purchased over the years 2003 to 2012 in the amount of approximately $303,000, as well as obsolete raw materials inventory with an original cost of $33,000, for which the loss had been fully reserved, was sold to one of the founders of this Company who left the Company in 2009, for $1,000.