Note 11 - Commitments and contingencies

Rents and operating leases

The Company utilizes leased facilities and operates equipment under non-cancelable operating leases through July 2030. Below is a table of key properties:

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Lease

Annual

Expiration

Location

Rent

Date

Baton Rouge, Louisiana

$

45,000

 

7/2026

Champaign, Illinois

$

685,000

 

12/2027

Champaign, Illinois (2nd location)

$

394,000

9/2026

Chicago, Illinois

$

7,000

Month to Month

Denver, Colorado

$

46,000

 

Month to Month

Escondido, California

$

253,000

 

6/2027

La Porte, Texas

$

17,000

7/2028

Long Beach, California

$

29,000

 

2/2027

Omaha, Nebraska

$

12,000

11/2026

Ontario, California

$

193,000

 

12/2027

Riverside, California

$

27,000

 

Month to Month

Smyrna, Georgia

$

511,000

 

7/2030

Stony Point, New York

$

125,000

 

6/2026

Woodcliff Lake, New Jersey

$

380,000

12/2027

The Company rents properties and various equipment under operating leases. In addition to the properties above, the Company does at times utilize public warehouse space on a month to month basis. The Company typically enters into short-term leases for the facilities and wherever possible extends the expiration date of such leases.

Historical Timeline

Fiscal YearFiled
2025Mar 16, 2026Showing above
2024Mar 12, 2025
2023Mar 14, 2024
2022Mar 14, 2023
2021Mar 24, 2022
2020Mar 12, 2021
2019Mar 13, 2020
2018Mar 15, 2019
2017Mar 16, 2018
2016Mar 10, 2017
2015Mar 11, 2016

About Commitments Disclosures

Commitments and contingencies disclosures catalog a company's off-balance-sheet obligations and legal exposures — purchase commitments, guarantee arrangements, pending litigation, and regulatory proceedings. These items represent potential future cash outflows that may not appear as liabilities on the balance sheet until they become probable and estimable.

Key signals: litigation reserves and disclosed loss ranges quantify management's estimate of legal exposure, but unquantified "reasonably possible" losses often represent the larger risk. Watch for changes in language around pending cases — shifts from "remote" to "reasonably possible" or increases in estimated loss ranges signal deteriorating outcomes. Unconditional purchase obligations and take-or-pay contracts create fixed cost structures that reduce operational flexibility. Guarantee arrangements for subsidiaries or joint ventures can create cascading obligations. Compare the total commitment schedule against projected free cash flow to assess whether the company can meet its obligations without additional financing.