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Inventories

9 Months Ended

Sep. 30, 2013

5.	Inventories

Inventories at September 30, 2013 and December 31, 2012 consisted of the following (in thousands):

	September 30, 2013		December 31, 2012
Finished systems	$	81	$	310
Raw materials and service parts		1,012		698
Work in progress		-		-
		1,093		1,008
Less: Reserve for obsolete inventory		(552)		(457)
	$	541	$	551

Inventories are stated at the lower of cost or market. Cost is determined using the first-in, first-out (FIFO) method of inventory valuation. The Company evaluated the reserve as of September 30, 2013 and December 31, 2012.

- 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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