Product Warranty Provisions

9 Months Ended

Sep. 30, 2015

Product Warranty Provisions [Abstract]

Product Warranty Provisions

12. Product Warranty Provisions

The Company’s standard policy is to warrant all Niobe,  Odyssey, and Vdrive systems against defects in material or workmanship for one year following installation. The Company’s estimate of costs to service the warranty obligations is based on historical experience and current product performance trends. A regular review of warranty obligations is performed to determine the adequacy of the reserve and adjustments are made to the estimated warranty liability as appropriate.

Accrued warranty, which is included in other accrued liabilities, consists of the following:

	September 30, 2015		December 31, 2014
Warranty accrual, beginning of the fiscal period	$	364,548	$	501,212
Accrual adjustment for product warranty		91,293		84,402
Payments made		(151,235)		(221,066)
Warranty accrual, end of the fiscal period	$	304,606	$	364,548