Note 14 - Commitments and Contingencies

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Commitments and Contingencies Disclosure [Text Block]

14

. Commitments and Contingencies

Legal Matters.

From time to time, the Company has been and

may

again become involved in legal proceedings arising in the ordinary course of its business. The Company is

not

aware of any pending or threatened litigation against the Company that it believes could have a material adverse effect on its business, operating results, financial condition or cash flows.

Indemnifications

. In the ordinary course of its business, the Company makes certain indemnities under which it

may

be required to make payments in relation to certain transactions. As of

December 31, 2020 

and

2019,

the Company did

not

have any liabilities associated with indemnities.

In addition, the Company, as permitted under Delaware law and in accordance with its amended and restated certificate of incorporation and amended and restated bylaws, in each case, as amended to date, indemnifies its officers and directors for certain events or occurrences, subject to certain limits, while the officer or director is or was serving at the Company's request in such capacity. The duration of these indemnifications, commitments, and guarantees varies and, in certain cases, is indefinite. The maximum amount of potential future indemnification is unlimited; however, the Company has a director and officer insurance policy that

may

enable it to recover a portion of any future amounts paid. The Company accrues for losses for any known contingent liability, including those that

may

arise from indemnification provisions, when future payment is probable.

No

such losses have been recorded to date.

Environmental Liabilities

. The Company's operations are subject to environmental laws and regulations adopted by various governmental authorities in the jurisdictions in which it operates. These laws require the Company to investigate and remediate the effects of the release or disposal of materials at its locations. Accordingly, the Company has adopted policies, practices and procedures in the areas of pollution control, occupational health and the production, handling, storage and use of hazardous materials to prevent material environmental or other damage, and to limit the financial liability which could result from such events. Environmental liabilities are recorded when the Company's liability is probable and the costs can be reasonably estimated.

No

environmental liabilities have been recorded as of

December 31, 2020.