INVENTORY |
6 Months Ended |
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Jun. 30, 2016 | |
Inventory Disclosure [Abstract] | |
INVENTORY |
NOTE 3 INVENTORY
As of June 30, 2016 the Company has no inventory. As of December 31, 2015 there was $131,759 of finished goods and $372,187 of work in process inventory. Inventory is carried at the lower of cost or net realizable value. Management has recognized that all the existing inventory no longer has any commercial value and has therefore written all remaining inventory down to zero resulting in a loss on inventory impairment of $373,512, which has been recorded to cost of goods sold. |
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- References No definition available.
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- Definition The entire disclosure for inventory. Includes, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the classes of inventory, and the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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