Annual report pursuant to Section 13 and 15(d)

Accrued Expenses (Tables)

v3.20.1
Accrued Expenses (Tables)
12 Months Ended
Dec. 31, 2019
Accrued Expenses  
Schedule of Accrued Expenses

Accrued expenses consisted of the following:

 

 

 

 

 

 

 

 

 

December 31, 

 

December 31, 

 

    

2019

    

2018

Accrued Wages and Related Costs

 

$

394,669

 

$

461,619

Accrued Professional Services

 

 

217,721

 

 

138,438

Accrued Warranty Obligations

 

 

98,893

 

 

218,047

Other Accrued Expenses

 

 

174,614

 

 

795,974

Total

 

$

885,897

 

$

1,614,078

 

Schedule of changes in accrued warranty obligations

The changes in the Company’s accrued warranty obligations for the years ended December 31, 2019, 2018 and 2017 were as follows:

 

 

 

 

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

Reductions for Settling Warranties

 

 

(257,173)

Warranty Issued During Year

 

 

307,717

Accrued Warranty Obligations at December 31,  2018

 

 

218,047

Reductions for Settling Warranties

 

 

(204,583)

Warranty Issued During Year

 

 

85,429

Accrued Warranty Obligations at December 31,  2019

 

$

98,893