| INVENTORY |
NOTE 14 – INVENTORY
Inventory consisted of the following as of:
| | |
March 31,
2026 | | |
December 31,
2025 | |
| | |
| | |
| |
| Raw materials (includes goods in transit $1,121,993 (December 31, 2025: $502,392)] | |
| 6,828,618 | | |
| 7,027,016 | |
| Work-in-progress | |
| 1,272,956 | | |
| 1,426,933 | |
| Finished goods | |
| 9,066,107 | | |
| 8,717,761 | |
| Less: Inventory valuation allowance | |
| (101,590 | ) | |
| (107,708 | ) |
| | |
| 17,066,091 | | |
| 17,064,002 | |
Changes in the inventory valuation allowance were as follows:
| | |
March 31,
2026 | | |
December 31,
2025 | |
| | |
| | |
| |
| Balance at the beginning of the year | |
| 107,708 | | |
| - | |
| (Reversal) /Additions charged to expense | |
| (6,248 | ) | |
| 110,332 | |
| Foreign currency translation adjustment | |
| 130 | | |
| (2,624 | ) |
| Balance at the end of the year | |
| 101,590 | | |
| 107,708 | |
The provision for slow-moving and obsolete inventory
was recognized within cost of sales in the Condensed Consolidated Statements of Operations.
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