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Note 4 - Product Inventories

9 Months Ended

Sep. 30, 2013

Note 4. Product Inventories

Product inventories consist of the following:

In thousands of dollars

	September 30, 2013		December 31, 2012
Raw materials	$	1,359	$	2,337
Work in process		1,614		3,666
Finished goods		2,256		1,413
Total product inventories	$	5,229	$	7,416

As of September 30, 2013 and December 31, 2012, inventory relates to the production of battery systems targeted at the electric grid, transportation, and industrial markets.

Inventory valuation allowances, totaled $250,000 and $331,000 at September 30, 2013 and December 31, 2012, 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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