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Note 6 - Inventory

6 Months Ended

Jun. 30, 2024

Notes to Financial Statements

Inventory Disclosure [Text Block]

6. INVENTORY

Inventory is stated at the lower of cost, determined on a first in, first out basis, or realizable value. The Company periodically evaluates inventory items and establishes reserves for obsolescence accordingly. The Company also reserves for excess quantities, slow moving goods, and for other impairment of value based upon assumptions of future demand and market conditions. Approximately $3,300,000 of the reserve on inventory is due to slow moving inventory purchased for projects in Nigeria, and the balance for other slow-moving inventory. The Company is exploring other markets and opportunities to sell the product. Inventory is comprised of the following as at June 30, 2024 and December 31, 2023:

		June 30,				December 31,
		2024				2023
Finished goods		$	4,360,526			$	4,373,056
Fabricated assemblies			59,156				59,184
Reserve on finished goods			(3,986,500	)			(3,986,500	)
Total inventory		$	433,182			$	445,740

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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/disclosureRef
-Topic 330
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/330/tableOfContent

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