Note 8 - Related Party Transactions

3 Months Ended

Mar. 31, 2021

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE

8.

RELATED PARTY TRANSACTIONS

During

three

months ended

March 31, 2021,

we did business with Printed Circuits, Inc. which is

90%

owned by the Kunin family, of which, owns a majority of our stock. We had payments totaling

$20

and

$14

during the

three

months ended

March 31, 2021

and

2020,

respectively to Printed Circuits, Inc. The Company believes that these transactions are on terms comparable to those that the Company could reasonably expect in an arm's length transaction with an unrelated

third

party.

David Kunin, our Chairman, is a minority owner of Abilitech Medical, Inc. Mr. Kunin also was a consultant to Abilitech, which relationship ended on

March 1, 2021.

During

2020,

Mr. Kunin earned

$16

as a consultant to Abilitech. In the

three

months ended

March 31, 2021

and

2020,

Abilitech paid the Company

$268

and

$175,

respectively, for delivery of medical products. The Company believes that transactions with Abilitech are on terms comparable to those that the Company could reasonably expect in an arm's length transaction with an unrelated

third

party.

David Kunin, our Chairman, is a small minority owner (less than

10%

) of Marpe Technologies, LTD an early stage medical device company dedicated to the early detection of skin cancer through full body scanners.  Mr. Kunin is also a member of the Board of Directors of Marpe Technologies.  The Company worked with Marpe Technologies to apply for a grant from the Israel-United States Binational Industrial Research and Development Foundation, a legal entity created by Agreement between the Government of the State of Israel and the Government of the United States of America (“BIRD Foundation”).  The parties were successful in receiving approval for a

$1,000,000

conditional grant.  The Company and Marpe Technologies will each receive

$500,000

from the BIRD Foundation and, among other obligations under the grant, each is required to contribute

$500,000

to match grant funds from the BIRD Foundation.  The Company will meet its obligation by providing certain services at cost or with respect to administrative services at

no

cost to Marpe Technologies. The total value of the contribution will

not

exceed

$500,000.

  The Company will receive a

10

year exclusive right to manufacture the products of Marpe Technologies. There can be

no

assurances that Marpe Technologies' medical device will be commercially successful, that Marpe Technologies will be successful in raising additional funds to finance its operations or, if commercially successful, the Company will recoup the value of services provided to Marpe for which is

not

fully paid.  The transactions between the Company and Marpe Technologies have been approved by the Audit Committee pursuant to the Company Related-Party Transactions Policy. As of

March 31, 2021,

no

expenses were incurred and the agreement between the Company and Marpe Technologies will become effective upon execution of the agreement among the BIRD Foundation, Marpe Technologies and the Company relating to the the conditional grant from the BIRD Foundation.