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NOTE 10 — Subsequent Events | 12 Months Ended
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Dec. 31, 2021
Subsequent Events [Abstract] |
NOTE 10 — Subsequent Events | NOTE 10 — Subsequent Events In January 2022, the Company’s Board of Directors authorized a share repurchase program of up to $1.8 million. The Company has entered into a share repurchase arrangement with a financial institution during the trading window. In February 2022, the Company entered into an operating lease agreement for an approximately 35,913 square foot facility in Fremont, California where it will move its office and manufacturing operations. The lease agreement is for a base term of 87 months and a monthly rent obligation of $50,278.20, subject to annual increases of 3%. The lease commences on May 1, 2022 and the Company is provided with three months of free rent. On February 1, 2022, 233,800 shares of restricted stocks at a price of $3.77 per share have been granted from the 2004 Equity Incentive Plan subsequent to December 31, 2021. The shares include annual refresher grants to all continuing employees with a weighting reflecting the level of responsibility and performance of the employee and initial grants to three newly hired employees. As of March 25, 2022, the Company has issued 24,200 shares of common stock for the exercise of stock options.

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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://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI http://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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