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Note 9 - Commitments | 9 Months Ended
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Sep. 30, 2024
Notes to Financial Statements |
Commitments and Contingencies Disclosure [Text Block] | Note 9. Commitments As of September 30, 2024, the Company had commitments to purchase and install four Leksell Gamma Knife Esprit Systems (“Esprit”), one Gamma Plan workstation, and two Linear Accelerator (“LINAC”) systems. One LINAC and one Esprit will be placed at future customer sites. The remaining Esprit upgrades and LINACs are scheduled to occur during 2025 or later at existing customer sites. Total Gamma Knife and LINAC commitments as of September 30, 2024 were $13,383,000. There are no deposits on the condensed consolidated balance sheets related to these commitments as of September 30, 2024. It is the Company’s intent to finance substantially all of these commitments. There can be no assurance that financing will be available for the Company’s current or future projects, or at terms that are acceptable to the Company. However, the Company currently has cash on hand of $14,077,000 and its Revolving Line of $7,000,000 and is actively engaged with financing resources to fund these projects. The Company borrowed $4,500,000 on the Revolving Line as of September 30, 2024. On September 4, 2022, the Company entered into a Maintenance and Support Agreement with Mevion Medical Systems, Inc. (“Mevion”), which provides for maintenance and support of the Company’s PBRT unit at Orlando Health from September 2022 through April 2026. The agreement requires the Company to make an annual prepayment of $1,939,000 for the current contractual period ( one year). As of September 30, 2024, half of the prepayment was recorded as a prepaid contract and is being amortized over the one-year service period. As of September 30, 2024, the Company had commitments to service and maintain its Gamma Knife, LINAC, and PBRT equipment. The service commitments are carried out via contracts with Mevion, Elekta and Mobius Imaging, LLC. The Company’s commitment to purchase one LINAC system also includes a 5-year agreement to service the equipment, respectively. Total service commitments as of September 30, 2024 were $13,712,000. The Gamma Knife and certain other service contracts are paid monthly, as service is performed. The Company believes that cash flow from cash on hand and operations will be sufficient to cover these payments.

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