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INVENTORIES
9 Months Ended
Sep. 30, 2019
INVENTORIES [Abstract]  
INVENTORIES
NOTE 4 – INVENTORIES

At September 30, 2019 and December 31, 2018, inventory consisted of the following:

  
September 30,
2019
  
December 31,
2018
 
Raw materials
 
$
14,313
  
$
12,646
 
Work in process
  
10,610
   
9,631
 
Finished goods
  
18,583
   
16,487
 
Total inventory, gross
  
43,506
   
38,764
 
Inventory reserve
  
-
   
-
 
Total inventory, net
 
$
43,506
  
$
38,764
 

At September 30, 2019 and December 31, 2018, the Company did not have an inventory reserve and no inventory was pledged as collateral for borrowings from financial institutions. System shipments of first-tools to an existing or prospective customer, for which ownership does not transfer until customer acceptance, are classified as finished goods inventory and carried at cost until ownership is transferred.