COMMITMENTS AND CONTINGENCIES

12 Months Ended

Dec. 31, 2020

NOTE 12—COMMITMENTS AND CONTINGENCIES

(a)

The Company maintains a contributory defined contribution plan that covers all eligible employees. All contributions to this plan are discretionary. Amounts recognized as expense for contributions to this plan were $275,000 and $438,000, for the years ended December 31, 2020 and 2019, respectively.

(b)

At December 31, 2020 and 2019, the Company had open purchase order commitments totaling approximately $8,530,000 and $4,871,000, respectively.

(c)

From time-to-time, the Company may be a defendant or co-defendant in actions brought about in the ordinary course of conducting our business.