Annual report pursuant to Section 13 and 15(d)

Inventory, net

Inventory, net

12 Months Ended

Dec. 31, 2012

3. Inventory, net

Inventory, net consists of the following as of December 31, 2012 and 2011:


	2012			2011
Finished goods	$	329,709		$	411,724
Consignment or Rights of Return Agreements		10,802			29,147
Work-in-process		—			58,599
Raw materials		36,734			41,336


Total inventory		377,245			540,806
Less: inventory reserve		(253,067	)		(65,214	)


	$	124,178		$	475,592

- Definition

The entire disclosure for inventory. This may include, but is not limited to, the basis of stating inventory, the method of determining inventory cost, the major classes of inventory, and the nature of the cost elements included in inventory. If inventory is stated above cost, accrued net losses on firm purchase commitments for inventory and losses resulting from valuing inventory at the lower-of-cost-or-market may also be included. For LIFO inventory, may disclose the amount and basis for determining the excess of replacement or current cost over stated LIFO value and the effects of a LIFO quantities liquidation that impacts net income.

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