Annual report pursuant to Section 13 and 15(d)

Accrued Expenses (Tables)

v3.8.0.1
Accrued Expenses (Tables)
12 Months Ended
Dec. 31, 2017
Payables and Accruals [Abstract]  
Components of Accrued Expenses
Accrued expenses consisted of the following: 
 
 
 
December 31,
2017
 
December 31,
2016
 
Accrued Wages and Related Costs
 
$
163,305
 
$
119,472
 
Accrued Compensation
 
 
327,469
 
 
648,720
 
Accrued Professional Services
 
 
531,728
 
 
137,099
 
Accrued Warranty Obligations
 
 
167,503
 
 
41,132
 
Accrued Interest
 
 
171,435
 
 
375,560
 
Other Accrued Expenses
 
 
10,000
 
 
10,000
 
 
 
 
 
 
 
 
 
Total
 
$
1,371,440
 
$
1,331,983
 
Changes in Accrued Warranty Obligations
The changes in the Company’s accrued warranty obligations for the years ended December 31, 2017, 2016 and 2015 were as follows:
 
Accrued Warranty Obligations at December 31, 2014
 
$
39,624
 
Reductions for Settling Warranties
 
 
(67,858)
 
Warranty Issued During Year
 
 
92,236
 
 
 
 
 
 
Accrued Warranty Obligations at December 31, 2015
 
 
64,002
 
Reductions for Settling Warranties
 
 
(103,265)
 
Warranty Issued During Year
 
 
80,395
 
 
 
 
 
 
Accrued Warranty Obligations at December 31, 2016
 
 
41,132
 
Reductions for Settling Warranties
 
 
(157,035)
 
Warranty Issued During Year
 
 
283,406
 
Accrued Warranty Obligations at December 31, 2017
 
$
167,503