Annual report pursuant to Section 13 and 15(d)

Accrued Expenses (Tables)

v2.4.0.8
Accrued Expenses (Tables)
12 Months Ended
Dec. 31, 2013
Payables and Accruals [Abstract]  
Components of Accrued Expenses
Accrued expenses consisted of the following: 
 
 
 
December
31, 2013
 
December
31, 2012
 
Accrued Wages and Related Costs
 
$
91,385
 
$
31,197
 
Accrued Compensation
 
 
360,670
 
 
181,322
 
Accrued Professional Services
 
 
69,500
 
 
181,227
 
Accrued Warranty Obligations
 
 
31,619
 
 
93,788
 
Other Accrued Expenses
 
 
1,090
 
 
32,138
 
 
 
 
 
 
 
 
 
Total
 
$
554,264
 
$
519,672
 
Changes in Accrued Warranty Obligations
The changes in the Company’s accrued warranty obligations for the years ended December 31, 2013 and 2012 were as follows:
 
Accrued Warranty Obligations at December 31, 2011
 
$
118,611
 
Reductions for Settling Warranties
 
 
(126,308)
 
Warranty Issued During Year
 
 
101,485
 
 
 
 
 
 
Accrued Warranty Obligations at December 31, 2012
 
$
93,788
 
Reductions for Settling Warranties
 
 
(74,287)
 
Warranty Issued During Year
 
 
12,118
 
Accrued Warranty Obligations at December 31, 2013
 
$
31,619