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OTHER LONG TERM ASSETS

3 Months Ended

Mar. 31, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

OTHER LONG TERM ASSETS

4. OTHER LONG TERM ASSETS

Other long term assets were as follows: 

SCHEDULE OF OTHER LONG TERM ASSETS 

		March 31,				December 31,
		2024				2023
		(in thousands)
Inventories, net		$	2,563			$	2,620
Cash surrender value of life insurance policies			1,733				1,681
Other			122				139
Other Long Term Assets		$	4,418			$	4,440

The Company maintains inventories, net of reserves of $1,000,000 as of March 31, 2024 and December 31, 2023, which are estimated to be used beyond the next twelve months, mainly for the new corrugated medical tubing (“CMT”) products. Higher amounts of materials for the new CMT products were initially purchased for cost considerations and because of longer required lead times.

The Company has obtained and is the beneficiary of life insurance policies with respect to past employees.

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- Definition

The entire disclosure for other assets. This disclosure includes other current assets and other noncurrent assets.

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