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Note 4 - Product Inventories

12 Months Ended

Dec. 31, 2011

4. PRODUCT INVENTORIES

Product Inventories consisted of the following at December 31, 2011 and 2010:

In thousands of dollars

	2011		2010
Raw Materials	$	4,193	$	2,979
Work in process		2,201		920
Finished goods		826		2,926
Total product inventories	$	7,220	$	6,825

As of December 31, 2010 and 2011, inventory relates to the production of batteries targeted at the stationary power and electric bus markets.

We recorded an inventory valuation allowance on finished goods of $264,000 and $623,000 at December 31, 2011 and 2010, respectively.

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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