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Inventory
6 Months Ended
Jun. 30, 2024
Inventory [Abstract]  
INVENTORY

5. INVENTORY

 

Inventory consisted of the following:

 

   As of
June 30,
2024
  

As of
December 31,
2023

 
Raw materials  $1,249,703   $1,594,028 
Work-in-process   5,609,045    5,815,194 
Finished goods   440,858    402,619 
Total  $7,299,606   $7,811,841 

 

These inventory figures are net of write-offs of scrapped inventory in the amounts of $433,122 and $527,133 during the six-month period ended June 30, 2024 and the year ended December 31, 2023, respectively, that resulted principally from contamination events and other production process losses.