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OTHER COMMITMENTS
3 Months Ended
Mar. 31, 2023
OTHER COMMITMENTS  
OTHER COMMITMENTS

NOTE 6 – OTHER COMMITMENTS

 

We have purchase obligations for inventory and production costs as well as other obligations such as capital expenditures, service contracts, marketing, and development agreements.  Arrangements are considered purchase obligations if a contract specifies all significant terms, including fixed or minimum quantities to be purchased, a pricing structure and approximate timing of the transaction.  Most arrangements are cancelable without a significant penalty, and with short notice, typically less than 90 days.  At March 31, 2023, the purchase commitments and other obligations totaled $2.4 million of which all but $553,000 are expected to be paid over the next twelve months.