MyMD Pharmaceuticals, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Inventories

Inventories

9 Months Ended

Sep. 30, 2014

Inventory Disclosure [Abstract]

Inventories

Note 4 - Inventories

Inventories at September 30, 2014 and December 31, 2013 consists of the following categories:

	2014		2013
Raw Materials	$	331,943	$	299,464
Sub-Assemblies		417,858		335,229
Finished Goods		67,099		422,411
Reserve for Obsolescence		(32,000)		(32,000)
	$	784,900	$	1,025,104

For the three and nine months ended September 30, 2014 and 2013, no charges were made to cost of goods sold for obsolete inventory.

- 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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