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Inventories

3 Months Ended

Mar. 31, 2015

Inventories

Inventories at March 31, 2015 and December 31, 2014 consisted of the following (in thousands):

	March 31,		December 31,
	2015		2014
Finished systems	$	-	$	-
Raw materials and service parts		422		422
Work in progress		421		421
		843		843
Less: Reserve for obsolete inventory		(513)		(513)
	$	330	$	330

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 March 31, 2015 and December 31, 2014.

- 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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