Inventories

12 Months Ended

Dec. 31, 2018

Inventory Disclosure [Abstract]

Inventories

NOTE 4 – INVENTORIES

Inventories consisted of the following for the years ended December 31, 2017 and 2018:

	2018		2017
Raw materials	$	42,911	$	42,911
Work in progress		2,719,786		1,906,377
Finished goods		3,032		2,225
	$	2,765,729	$	1,951,513

Included in raw material inventory are raw cobalt, strontium and other raw elements.  Raw material inventory is regularly reviewed for obsolescence.

Work in process includes completed flood sources, irradiated cobalt and nuclear medicine related materials and products, and cobalt-60 targets that are located in the ATR located outside of Idaho Falls, Idaho. The cobalt-60 targets are owned by the Company and contain cobalt-60 material at various stages of irradiation. The carrying value of the targets is based on accumulated irradiation and handling costs which have been allocated to each target based on the length of time the targets have been held and processed at the reactor. At December 31, 2018, the remaining cobalt target inventory had a carrying value of $389,293, and at December 31, 2017, the inventory was valued at $425,159.

Work in process also includes costs to irradiate cobalt-60 material under a contract with the DOE. This material has been placed in the reactor exclusively for purchase by the Company, and at December 31, 2018 and 2017, the amount of accumulated irradiation charges reported as inventory was $2,066,820 and $1,323,540, respectively. The Company has contracted with several customers for the purchase of this cobalt-60 material and has collected advance payments for project management, up-front handling and irradiation charges. The advance payments from customers were recorded as unearned revenue which are recognized in the Company’s consolidated financial statements as cobalt products are completed and shipped. For the year ended December 31, 2018, the Company recognized approximately $87,000 of revenue in its consolidated statements of operations for customer orders filled during the period under these cobalt contracts.