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Note 8 - Commitments and Contingencies
 9 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Commitments and Contingencies Disclosure [Text Block]

8.

COMMITMENTS AND CONTINGENCIES

 

a. Purchase Commitments

 

As of September 30, 2021, we have made commitments to purchase approximately $1,100 of production machinery and equipment.

 

b. Product Warranties

 

We estimate future warranty costs to be incurred for product failure rates, material usage and service costs in the development of our warranty obligations. Estimated future warranty costs are based on actual past experience and are generally estimated as a percentage of sales over the warranty period. Changes in our product warranty liability during the first nine months of 2021 and 2020 were as follows:

 

  

Nine-month period ended September 30,

 
  

2021

  

2020

 

Accrued warranty obligations – beginning

 $149  $195 

Accruals for warranties issued

  123   75 

Settlements made

  (143)  (103)

Accrued warranty obligations – ending

 $129  $167 

 

c. Contingencies and Legal Matters

 

We are subject to legal proceedings and claims that arise from time to time in the ordinary course of business.  We believe that the final disposition of any such matters of which we are currently aware will not have a material adverse effect on the Company’s financial position, results of operations or cash flows.  However, recognizing that legal matters are subject to inherent uncertainties, there exists the possibility that ultimate resolution of current or future legal matters could have a material adverse impact on the Company’s financial position, results of operations or cash flows.  We are not aware of any such situations at this time.