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Note 4 - Inventory

9 Months Ended

Sep. 30, 2022

Notes to Financial Statements

Inventory Disclosure [Text Block]

NOTE 4 - INVENTORY

Inventory consisted of the following on September 30, 2022, and December 31, 2021:

		September 30, 2022				December 31, 2021
Furnace parts and supplies		$	609,550			$	213,224
Raw materials			2,157,268				2,144,067
Work in process			936,059				1,671,290
Finished goods and filtration systems			1,532,387				1,660,907
Reserve for obsolescence			(578,076	)			(268,470	)
Net Inventory		$	4,657,188			$	5,421,027

Inventory valuation adjustments for excess and obsolete inventory are calculated based on current inventory levels, movements, expected useful lives, and estimated future demand for the products.

During the third quarter the Company made further provisions for excess and obsolete inventory in a period with changing market fundamentals.

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- References

No definition available.

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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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 330
-URI https://asc.fasb.org/topic&trid=2126998

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