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INVENTORIES

12 Months Ended

Dec. 31, 2017

Inventory Disclosure [Abstract]

INVENTORIES

6. INVENTORIES

The components of inventories are summarized below:

		December 31,
		2017				2016
Raw materials		$	9,229			$	8,934
Work in process			3,295				3,909
Finished goods			10,919				9,825
Provision for excess and obsolete inventory			(251	)			(389	)
Total inventories		$	23,192			$	22,279

Included in the raw materials and finished goods at December 31, 2017 and December 31, 2016 are goods in transit of approximately $3.1 million.

At December 31, 2017 and 2016, raw materials in the amount of $3.0 million are not pledged to our secured creditor are used for collateral to secure short term borrowings under a product financing arrangement. This short term borrowing agreement provides the Company with the ability to acquire raw materials utilized in connection with their manufacturing process. The Company satisfies the obligation within 60 days of the initial borrowings and yields an interest expense that is immaterial. The aggregate borrowings under this agreement amounted to $5.4 million and $4.0 million as of December 31, 2017 and 2016, respectively.

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- References

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- Definition

The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI http://asc.fasb.org/topic&trid=2126998

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