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Note M - Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Commitments Disclosure [Text Block]

NOTE

M

—COMMITMENTS AND CONTINGENCIES

Operating Leases

The Company does

not

own any real estate but conducts operations from

three

leased premises. These non-cancelable operating leases expire at various dates through

2023.

In addition to base rent, the Company pays for property taxes, maintenance, insurance and other occupancy expenses according to the terms of the individual leases.

Future minimum rental commitments of non-cancelable operating leases are approximately as follows:

Years ending December 31,
2019			192,000
2020			156,000
2021			127,000
2022			131,000
2023			89,000
		$	695,000

Rental expense was approximately

$234,000

and

$221,000

during

2018

and

2017,

respectively. Amounts are recorded in Selling, General, and administrative expenses.

Litigation

From time to time, we

may

be involved in litigation relating to claims arising out of our operations in the normal course of business.  As of

December 31, 2018,

the Company was

not

a party to any pending lawsuits.

X

- Definition

The entire disclosure for significant arrangements with third parties, which includes operating lease arrangements and arrangements in which the entity has agreed to expend funds to procure goods or services, or has agreed to commit resources to supply goods or services, and operating lease arrangements. Descriptions may include identification of the specific goods and services, period of time covered, minimum quantities and amounts, and cancellation rights.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 440
-URI http://asc.fasb.org/topic&trid=2144648

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X

- References

No definition available.

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