Inventory consisted of the following at December 31, 2009:
Parts $50,227
Work in progress $132,588
Finished products $5,000
Total inventory $187,815
Parts consist of unassembled parts and components used in the assembly of a finished vehicle.
Work in process consists of chassis under assembly but not yet complete.
Finished product consists of completed vehicles ready for sale.
Management evaluated the inventory at December 31, 2009 and determined that no allowance for obsolescence was necessary.
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Due to the proliferation {dilution} of "favored shares" and a loss for the year of almost 2 million dollars {majority ($1,468,999) was for "general and administrative"} I'd wager a bet that you'd be better off investing in the company that made the turbo diesel, below...in my opinion, lol...
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