Note 12 - Legal Matters

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Legal Matters and Contingencies [Text Block]

Note

12

. Legal Matters

In the ordinary course of conducting its business, Avalon becomes involved in lawsuits, administrative proceedings and governmental investigations, including those related to environmental matters. Some of these proceedings

may

result in fines, penalties or judgments being assessed against Avalon which, from time to time,

may

have an impact on its business and financial condition. Although the outcome of such lawsuits or other proceedings cannot be predicted with certainty, Avalon does

not

believe that any uninsured ultimate liabilities, fines or penalties resulting from such pending proceedings, individually or in the aggregate, will have a material adverse effect on its liquidity, financial position or results of operations (See Note

15

).