5. Inventories
Inventories consist of the following:
| Schedule of inventories |
|
|
|
|
|
|
|
|
| (Amounts in thousands) |
|
December 31,
2024 |
|
|
December 31,
2023 |
|
| Raw materials and supplies |
|
$ |
4,540 |
|
|
$ |
4,864 |
|
| Work-in-process |
|
|
- |
|
|
|
90 |
|
| Finished goods |
|
|
229 |
|
|
|
259 |
|
| Total |
|
$ |
4,769 |
|
|
$ |
5,213 |
|
| Provision for inventory |
|
|
(4,761 |
) |
|
|
(5,018 |
) |
| Total |
|
$ |
8 |
|
|
$ |
195 |
|
The changes in the provision for inventory is as follows:
| Schedule of changes in provision for slow moving inventory |
|
|
|
|
|
|
|
|
| (Amounts in thousands) |
|
Year Ended
December 31,
2024 |
|
|
Year Ended
December 31,
2023 |
|
| Balance at beginning of year |
|
$ |
(5,018 |
) |
|
$ |
(45 |
) |
| Additions |
|
|
(83 |
) |
|
|
(4,917 |
) |
| Income from unused provisions during the year |
|
|
99 |
|
|
|
- |
|
| Utilized provisions during the year |
|
|
16 |
|
|
|
- |
|
| Foreign exchange fluctuations |
|
|
225 |
|
|
|
(56 |
) |
| Balance at end of year |
|
$ |
(4,761 |
) |
|
$ |
(5,018 |
) |
Additions to provision for inventory includes provision for slow moving inventory at various locations, considering Company’s high uncertainty over realization of inventory in future sales projects or in research and development projects and provision for reducing the carrying value of inventory to net realizable values.
|