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Note 1 - Summary of Significant Accounting Policies: Loans To Related Parties (Policies)
12 Months Ended
Dec. 31, 2012
Policies  
Loans To Related Parties

Loans to Related Parties

 

As a general policy, the Company does not make loans to related entities including employees, directors, shareholders, suppliers or customers. UTMD was able to manage its A/R balances to achieve an average aging of 35 days from date of invoice by the end of the 2012 year, and A/R balances over 90 days from date of invoice to 1% of total A/R.  Both of these measures are historically lower than normal.  As an exception in 2009, the Company extended partial payment terms to an OEM customer that converted to a three-year term loan of $70 on July 1, 2010.  The balance on the note was $15 at year-end 2012.  The loan is secured by personal guarantees provided by the principals of the customer. UTMD believes that this was a wise use of its liquidity to build goodwill with a customer at an unusual time, which should ultimately help grow UTMD's business.