INVENTORIES

Inventories consisted of the following at March 31, 2017 and December 31, 2016:



	As of March 31,		As of December 31,
	2017		2016
Raw materials	$	816,166	$	832,806
Work in process	—		635,130
Finished goods	489,977		1,101,880
Total	$	1,306,143	$	2,569,816

The Company analyzes its inventory for impairment, both categorically and as a group, whenever events or changes in circumstances indicate that the carrying amount of the inventory may not be recoverable. During the three months ended March 31, 2017, the Company impaired $363,758 of inventory.

Inventory amounts are shown net of allowance of $1,183,226 and $736,663 for the three months ended March 31, 2017 and the year ended December 31, 2016, respectively.