SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2018

SUBSEQUENT EVENTS [Abstract]

SUBSEQUENT EVENTS

NOTE 15 — SUBSEQUENT EVENTS:

On February 5, 2019, the Company entered into a commercial real estate lease for a new corporate headquarters comprised of 70,000 square feet of office, research and development, and warehouse space in Hauppauge, New York. The lease has an initial term of eleven years that can be extended, at the Company’s option, for two additional terms of five years each. Rent under the lease, which is payable in monthly installments, totals approximately $900,000 for the initial year and then increases by approximately three percent each succeeding year. Upon lease inception, the Company provided a security deposit and paid four months base rent that together totaled approximately $450,000. The base rent which will be deducted against the rent due following a nine-month free rent period.

On February 5, 2019, the Company also entered into an agreement of sublease with an affiliate of the Hauppauge, NY facility landlord to sublet the Company’s warehouse space and supplemental administrative office facility in Holbrook, New York. The sublease has a term that will (a) commence on the later of March 18, 2019 and the date the Company vacates the premises and (b) terminate on April 29, 2020, which is immediately prior to the termination of the Company’s lease for the facility. The sublessee will pay the Company 50% of the Company’s rent and additional rent payments, which will total approximately $100,000 per year during the term of the sublease.