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Inventory
6 Months Ended
Jun. 30, 2018
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 net realizable value.

 

The carrying value of inventory consisted of the following:

 

    June 30, 2018     December 31, 2017  
Finished goods   $ 2,101,306     $ 1,507,344  
Components     767,021       1,197,228  
Inventory in transit     168,948       45,188  
Raw materials     118,939       92,616  
Total inventory   $ 3,156,214     $ 2,842,376  

 

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