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Inventory
3 Months Ended
Mar. 31, 2017
Inventory Disclosure [Abstract]  
Inventory

Note 3 – Inventory

 

Inventory consists of finished goods, components and raw materials. The Company’s inventory is stated at the lower of cost (FIFO cost basis) or market.

 

The carrying value of inventory consisted of the following:

 

    March 31, 2017     December 31, 2016  
Finished goods   $ 265,710     $ 474,420  
Components     334,475       431,241  
Inventory in transit     47,822       104,500  
Raw materials     92,617       92,616  
Total inventory   $ 740,624     $ 1,102,777  

 

On January 22, 2015, inventory was pledged to Knight Therapeutics under the Loan Agreement (see note 10).