| INVENTORIES |
NOTE 3 – INVENTORIES
Inventories consisted of the following:
| |
|
June 30,
2026 |
|
|
December 31,
2025 |
|
| Raw materials |
|
$ |
732,622 |
|
|
$ |
843,603 |
|
| Work in process |
|
|
202,497 |
|
|
|
457,817 |
|
| Finished goods |
|
$ |
1,587,415 |
|
|
$ |
1,465,243 |
|
| Total Inventories |
|
|
2,522,534 |
|
|
|
2,766,663 |
|
| Less: Provision for obsolescence |
|
|
(1,160,111 |
) |
|
|
(1,145,240 |
) |
| |
|
$ |
1,362,423 |
|
|
$ |
1,621,423 |
|
Changes to the provision for obsolescence consisted of the
following:
| | |
For the Three Months Ended
June
30, | | |
For the Six Months Ended
June
30, | |
| | |
2026 | | |
2025 | | |
2026 | | |
2025 | |
| At the beginning of the period | |
| 1,117,335 | | |
| 574,071 | | |
| 1,145,240 | | |
| 574,071 | |
| Net additions to earnings | |
| 67,332 | | |
| 213,379 | | |
| 21,508 | | |
| 213,379 | |
| Foreign currency translation adjustment | |
| (24,556 | ) | |
| 747 | | |
| (6,637 | ) | |
| 747 | |
| At the end of the period | |
| 1,160,111 | | |
| 788,197 | | |
| 1,160,111 | | |
| 788,197 | |
|