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Note 17 - Subsequent Events | 12 Months Ended
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Dec. 31, 2018
Notes |
Note 17 - Subsequent Events | Note 17 – Subsequent Events The Company evaluated its December 31, 2018 financial statements for subsequent events through the date the financial statements were issued. Except for the purchase of the U.S. exclusive distribution rights for the Filshie Clip System from CSI, the Company is not aware of any subsequent events which would require recognition or disclosure in the financial statements. The CSI purchase closed on February 1, 2019, after which CSI will no longer sell the Filshie Clip System and UTMD will distribute the Filshie Clip System directly to clinical facilities in the U.S. The $21,000 purchase price represents an identifiable intangible asset which will be straight-line amortized and recognized as part of G&A expenses over the 4.75 year remaining life of the prior CSI distribution agreement with Femcare.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 + Details
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