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Note 10 - Commitments and Contingencies
3 Months Ended
Apr. 03, 2022
Notes to Financial Statements  
Commitments Disclosure [Text Block]

Note 10 — Commitments and Contingencies

 

Commitments

 

The Company's manufacturing suppliers require the forecast of wafer starts several months in advance. The Company is required to take delivery of and pay for a portion of this forecasted wafer volume. As of April 3, 2022, and January 2, 2022, the Company had $0.8 million and $0.9 million respectively, of outstanding commitments for the purchase of wafer and finished goods inventory.

 

The Company has purchase obligations with certain suppliers for the purchase of other goods and services entered into in the ordinary course of business. As of April 3, 2022, total outstanding purchase obligations for other goods and services were $0.9 million due within the next twelve months.

 

Litigation

 

From time to time, the Company may become involved in legal actions arising in the ordinary course of business including, but not limited to, intellectual property infringement and collection matters. Absolute assurance cannot be given that any such third party assertions will be resolved without costly litigation; in a manner that is not adverse to the Company’s financial position, results of operations or cash flows; or without requiring royalty or other payments which may adversely impact gross profit. As of April 3, 2022, the Company was not involved in any litigation.