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OTHER LONG TERM ASSETS
 9 Months Ended
Sep. 30, 2025
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

   September 30,   December 31, 
   2025   2024 
   (in thousands) 
Inventories, net  $2,063   $2,503 
Cash surrender value of life insurance policies   1,143    1,108 
Other   173    123 
Other Long Term Assets  $3,379   $3,734 

 

The Company maintains inventories, net of reserves of $1,000,000 as of September 30, 2025 and December 31, 2024, which is estimated to be used beyond the next twelve months, mainly for the corrugated medical tubing (“CMT”) products. Higher amounts of materials for the 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. During 2024, the insured for one of the policies became deceased which allowed for proceeds to be received from a claim upon the policy of $739,000.