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SUBSEQUENT EVENTS | 12 Months Ended
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Dec. 31, 2024
Subsequent Events [Abstract] |
SUBSEQUENT EVENTS | 15. SUBSEQUENT EVENTS In October 2024, the Company formed a new U.S. subsidiary, Flex-Trac, Inc., and effective January 1, 2025, the Company contributed to Flex-Trac, Inc. certain assets related to its MediTrac® corrugated medical gas tubing business, in exchange for the issuance to the Company of shares of common stock, par value $0.01 per share, of Flex-Trac, Inc. (“Common Stock”). In addition, in December 2024, subject to the approval of the Company’s shareholders, the Flex-Trac, Inc. 2025 Equity Incentive Plan (the “Plan”) was approved and adopted, to provide directors, officers, employees, contractors and consultants of Flex-Trac, Inc. or its affiliates an equity-based incentive to maintain and enhance the performance and profitability of Flex-Trac, Inc. Subject to adjustment as provided in the Plan, up to 818,458 shares of Common Stock, or 7.5% of the fully-diluted shares of Common Stock, may be issued pursuant to the Plan with respect to awards. On January 2, 2025, 420,000 shares of restricted stock in the aggregate, or 4% of the shares of Common Stock, were granted to certain eligible participants under the Plan, subject to the approval of the Plan by the shareholders of the Company. Subject to such approval, the awards vest after eight years of continuous service or earlier upon the grantee’s death, disability or retirement, or a change of control, as defined and further described in the Plan.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/855/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 855 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147483399/855-10-50-2 + Details
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