Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.19.2
Inventories
 6 Months Ended
Jun. 30, 2019
Inventory Disclosure [Abstract]  
Inventories

NOTE 4 - Inventories

 

As of June 30, 2019 and December 31, 2018, inventories consisted of the following:

 

    June 30,
2019		     December 31,
2018		  
    (Unaudited)        
Satellite equipment for sale under construction   $ 1,336,389     $ -  
Supplies     5,233       5,273  
      1,341,622       5,273  
Allowance for inventory loss     (5,233 )     (5,273 )
Net   $ 1,336,389     $ -  

 

As of June 30, 2019, the Company transferred construction in progress and Prepayment - Equipment in the amount of $895,014 and $54,625, respectively, to inventories. As of December 31, 2018, the Company transferred inventories in the amount of $11,029 to R&D expenses.