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Note E - Inventory
12 Months Ended
Dec. 31, 2024
Notes to Financial Statements  
Inventory Disclosure [Text Block]

NOTE EINVENTORY

 

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. The reserve on inventory in 2023 and 2024 is due to slow moving inventory purchased for projects in Nigeria and other slow moving inventory. The Company is looking into other markets and opportunities to sell or return the product. The total inventory below accounts for selective product that ships quarterly to customers worldwide and through Amazon.

 

Inventory is comprised of the following as of December 31:

 

  

2024

  

2023

 
         

Finished goods

 $4,098,513  $4,373,056 

Fabricated assemblies

  53,289   59,184 

Reserve on finished goods

  (3,773,495)  (3,986,500)

Total inventory

 $378,307  $445,740