XML 29 R18.htm IDEA: XBRL DOCUMENT
v3.22.1

NOTE 5 — Commitments and Contingencies (Policies) | 12 Months Ended
--- | ---
Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract] |
Operating Lease Obligations | Operating Lease Obligations The Company leases office space under a non-cancelable operating lease that provides the Company approximately 37,100 square feet in Newark, California. The lease agreement expires on June 30, 2022. In February 2022, the Company entered into a 87-month lease agreement in Fremont, CA. The new space is approximately 35,913 square feet and will serve as the location for the Company’s new Corporate Headquarters, including office space and manufacturing. The Company will account for this lease as an operating lease under ASC 842. In June 2020, the Company also signed a new two-year equipment operating lease agreement. The Company pays $1,519 in monthly installments from September of 2020 through June 2022. The operating lease expense under existing agreement was allocated in cost of goods sold and operating costs based on department headcount and amounted to $428,873 and $418,909 for the twelve-month periods ended December 31, 2021 and 2020, respectively. On December 31, 2021, the balances of right-of-use assets and liabilities for the existing operating leases were approximately $210,839 and $258,097, respectively, compared to approximately $609,331, and $741,351, respectively, on December 31, 2020. Cash payments included in the measurement of our existing operating lease liabilities were $515,822 and $478,461 for the twelve-month periods ended December 30, 2021 and 2020, respectively. Future minimum lease payments under the existing operating lease as of December 31, 2021 are shown below:
Annual minimum payments: |  | Amount
2022 |  |  | 262,789 |
Total minimum payments |  |  | 262,789 |
Less: Imputed interest |  |  | (4,692 | )
Total operating lease liabilities |  |  | 258,097 |
Less: Current portion of operating lease |  |  | (258,097 | )
Long-term portion of operating lease |  | $ | — |
Purchase Commitments | Purchase Commitments On December 31, 2021, the Company’s non-cancelable purchase commitments for inventory to be used in the ordinary course of business during 2022 were approximately $11,911,000.
Legal Matters | Legal Matters The Company is subject to disputes, claims, requests for indemnification and lawsuits arising in the ordinary course of business. Under the indemnification provisions of the Company’s customer agreements, the Company routinely agrees to indemnify and defend its customers against infringement of any patent, trademark, copyright, trade secrets, or other intellectual property rights arising from customers’ legal use of the Company’s products or services. The exposure to the Company under these indemnification provisions is generally limited to the total amount paid for the indemnified products. However, certain indemnification provisions potentially expose the Company to losses in excess of the aggregate amount received from the customer. To date, there have been no claims against the Company by its customers pertaining to such indemnification provisions, and no amounts have been recorded. The Company is currently not a party to any material legal proceedings.

X
- References No definition available. + Details
Name: | us-gaap_CommitmentsAndContingenciesDisclosureAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for legal proceedings, legal contingencies, litigation, regulatory and environmental matters and other contingencies. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 450 -URI http://asc.fasb.org/topic&trid=2127136 + Details
Name: | us-gaap_LegalMattersAndContingenciesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of undiscounted cash flows of lessee's operating lease liability. Includes, but is not limited to, reconciliation of undiscounted cash flows to operating lease liability recognized in statement of financial position. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 842 -SubTopic 20 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=123408670&loc=SL77918701-209980 + Details
Name: | us-gaap_LesseeOperatingLeaseLiabilityMaturityTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of arrangements in which the entity has agreed to procure goods or services from one or more suppliers. May include identification of the goods or services to be purchased, identity of the seller, pricing, effects on pricing for failing to reach minimum quantities required to be purchased (such as penalties), cancellation rights, and termination provisions. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.7-03(a)(19)) -URI http://asc.fasb.org/extlink&oid=120400017&loc=d3e572229-122910 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 210 -Section S99 -Paragraph 1 -Subparagraph (SX 210.9-03(17)) -URI http://asc.fasb.org/extlink&oid=120398452&loc=d3e534808-122878 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(25)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
Name: | us-gaap_PurchaseCommitmentExcludingLongtermCommitmentTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration