Quarterly report pursuant to Section 13 or 15(d)

Inventory

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Inventory
 3 Months Ended
Mar. 31, 2024
Inventory Disclosure [Abstract]  
Inventory

Note 4 - Inventory

As of March 31, 2024, and December 31, 2023, inventory consisted of the following:

 

 

March 31,
2024

 

 

December 31,
2023

 

Raw materials

 

$

1,427,258

 

 

$

1,475,657

 

Work in process

 

 

1,176,811

 

 

 

703,117

 

Finished goods

 

 

2,416,680

 

 

 

3,021,206

 

Total Inventory

 

$

5,020,749

 

 

$

5,199,979

 

Reserves for inventory obsolescence are recorded as necessary to reduce obsolete inventory to estimated net realizable value or to specifically reserve for obsolete inventory. Sales of previously reserved inventory net of write-downs and write-offs for the three months ended March 31, 2024 was $11,789 and $60,926, respectively.