Note 11 - Commitments and Contingencies

6 Months Ended

Jun. 30, 2022

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

11.  COMMITMENTS AND CONTINGENCIES

Facility Lease

See Note 8.

Related Party Technology License Agreement

The Company is obligated to pay royalties and development and patent costs pursuant to an exclusive Amended and Restated Intellectual Property License Agreement dated as of  September 30, 2016, with Syzygy, a company owned and controlled by stockholder/consultant Mr. Elwood Norris and stockholder/officer Mr. James Barnes. The agreement provides for royalty payments of 4% of revenue from products employing the licensed ensnarement device technology up to an aggregate of $1,000 in royalties or until  September 30, 2026, whichever occurs earlier. The Company recorded $34 and $83 for royalties during the three and six months ended June 30, 2022 and $68 and $119 incurred for the three and six months ended June 30, 2021, respectively.

Purchase Commitments

At June 30, 2022, the Company was committed for approximately $3.2 million for future component deliveries that are generally subject to modification or rescheduling in the normal course of business.