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(6) Inventories
6 Months Ended
Jun. 30, 2012
Notes to Financial Statements  
(6) Inventories

 

Inventories consist of component materials and finished systems. Inventories are stated at the lower of cost (first-in, first-out) or market, not in excess of net realizable value. Component material consists of certain key replacement parts for the finished systems. Inventories are as follows:

   June 30,  December 31,
   2012  2011
           
  Component materials  $148,605   $63,179 
  Finished systems   952,039    1,705,828 
           
Total Inventory  $1,100,644   $1,769,007 

As of June 30, 2012 and December 31, 2011, the Company has not recorded any reserve for excess and/or obsolete inventories in arriving at estimated net realizable value of its inventory.