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    2020Äê8ÔÂ19ÈÕ
    
    UNITED STATES SECWUaRshIiTnIgEtoSnA, DN.DC.EX20C5H49ANGE COMMISSION
    
    FORM 10-Q
    
    [X] QUOAFRTTHEERLSYECRUERPIOTRIETSPEUXRCSHUAANNGTETOACSTECOTFIO19N3413 or 15(d)
    
    For the quarterly period ended June 30, 2020
    
    Commission file number 1-2257
    
    TRANS-LUX CORPORATION(Exact name of registrant as specified in its charter)
    
                  Delaware                                                               13-1394750
              i(nSctoatrepoorraotitohnerojruorirsgdaincitzioantioonf)                                        I(dIe.Rnt.iSfi.cEamtiopnloNyoer.)
       135Eas(tA5d7dthreSsstroeeftp,r1i4ntchipFalloeoxr,eNcuetwiveYoofrfki,cNese)wYork                                                 (Z1ip00c2o2de)
                                       (Registrant'stele(p8h0o0n)e2n4u3m-5b5e4r4,includingareacode)
    
    
    I1n2dmicoatnethbsy(cohrefcokr smuacrhkswhohrettehrepretrhieodRtehgaitsttrhaentR: e(1g)ishtraasnftiwleadsarlelqreupiroerdtstorefqiuleirseudcthorbeepofriltes)d, bayndS(e2c)tihoans1b3eeonr 1su5b(dje)cotftothseuSchecfuilriintigesreEqxucihreamngeentAs cfot rofth1e9p3a4stdu9r0indgayths.e pYreescediXng
    
    No
    
    (In¡ìd23ic2a.t4e05byofchtheicskchmaaprtker)wdhuertihnegr tthheepRreecgeidstirnagnt12hamsosnutbhms (itotredfoerlseucctrhonshicoarltleyr pevereiroydItnhtaetrathcetivReegDisattraanFtilwearserqeuqiureirdedtotobfeilseusbumchittfeildesp)u. rYsueasnt tXo RulNeo405 of Regulation S-T
    
    cInodmicpaatneyb. ySceheetchkemdeafrikniwtihoentsheorf t¡°hlaergReegaicsctrealenrtaitseda flialregr,e¡± a¡°caccecleelreartaetdedfifleilre,ra,¡±n¡°ascmceallelerratreedpofirlteinr,gacnoomnp-aacncye¡±learnadte¡°defmileerrg, iangsmgarollwerthrecpoomrtpinagnyc¡±ominpRanuyle, o1r2ban-2eomfetrhgeinEgxgchroawngthe
    
    Act.
    
     Largeacceleratedfiler___          Acceleratedfiler___
     Non-acceleratedfiler  X          Emerginggrowthcompany___              Smallerreportingcompany  X
    
    
    Iafccaonuenmtienrggisntagngdraorwdsthprcoovmidpeadnyp,uirnsduiacnattetobSyecchtieocnk1m3(aar)koiff tthhee Erexgcihstarnagnet hAacst.elected not to use the extended transition period for complying with any new or revised financial
    
    Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes No X
    
    Indicate the number of shares outstanding of each of the issuer¡¯s classes of Common Stock, as of the latest practicable date.
    
      8D/1a7te/20         CommonStockC-la$s0s.001ParValue           Shar1e3s,O47u4ts,1ta1n6ding
    
    
    Table of Contents
    
    Part I - Financial Information (unaudited) Page No.
    
    Item 1. Condensed Consolidated Balance Sheets ¨C June 30, 2020 and December 31, 2019 (see Note 1) 1
    
    Condensed Consolidated Statements of Operations ¨C Three and Six Months Ended June 30, 2020 and 2019 2
    
    2C0o2n0deannsded20C19onsolidated Statements of Comprehensive Loss ¨C Three and Six Months Ended June 30, 2
    
    CJuonned3e0n,se2d02C0oannsdol2id0a1t9ed Statements of Changes in Stockholders¡¯ Deficit ¨C Three and Six Months Ended 3
    
    Condensed Consolidated Statements of Cash Flows ¨C Six Months Ended June 30, 2020 and 2019 4
    
    Notes to Condensed Consolidated Financial Statements 5
    
    Item 2. Management¡¯s Discussion and Analysis of Financial Condition and Results of Operations 21
    
    Item 3. Quantitative and Qualitative Disclosures about Market Risk 27
    
    Item 4. Controls and Procedures 27
    
    Part II - Other Information
    
    Item 1. Legal Proceedings 28
    
    Item 1A. Risk Factors 28
    
    Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 29
    
    Item 3. Defaults upon Senior Securities 29
    
    Item 4. Mine Safety Disclosures 30
    
    Item 5. Other Information 30
    
    Item 6. Exhibits 30
    
    Signatures 31
    
    Exhibits
    
                                       Part I-FinancialInformation(unaudited)
    Item 1.
                                   TRANSC-OLUNXSOCLOIDRPAOTERDATBIAOLNAANNCDESSUHBESEITDSIARIES
                                                (unaudited)
    In thousands,exceptsharedata                                                      Ju2n0e2030       Dece2m01b9er31
                                                                                        (seeNote1)
    ASSETS
    Current assets:
      Cashandcashequivalents                                                  $          248  $          535
      Receivables,net                                                                 1,755            2,381
      Inventories                                                                   2,153            2,182
      Prepaidsandotherassets                                                             605             807
       Totalcurrentassets                                                              4,761            5,905
    Long-term assets:
      Rentalequipment,net                                                               800             927
      Property,plantandequipment,net                                                       2,322            2,284
      Rightofuseassets                                                                996            1,141
      Goodwill                                                                     744             744
      Restrictedcash                                                                  650             850
      Otherassets                                                                    510             403
       Totallong-termassets                                                            6,022            6,349
    TOTALASSETS                                                       $        10,783  $        12,254
    LIABILITIES ANDSTOCKHOLDERS'DEFICIT
    Current liabilities:
      Accountspayable                                                      $         1,119  $          945
      Accruedliabilities                                                                5,941            6,046
      Currentportionoflong-termdebt                                                       2,107            1,572
      Currentleaseliabilities                                                              286             284
      Customerdeposits                                                                415             123
       Totalcurrentliabilities                                                            9,868            8,970
    Long-term liabilities:
      Long-termdebt,lesscurrentportion                                                      1,105             650
      Long-termleaseliabilities                                                            746             893
      Deferredpensionliabilityandother                                                      3,217            3,485
       Totallong-termliabilities                                                          5,068            5,028
        Totalliabilities                                                              14,936           13,998
    Stockholders' deficit:
      PresfhearrreesdiSsstoucekdSanedrieosuAtsta-n$d2i0ngs:ta0teidnv2a0l2u0ea-n4d1260,51090sharesauthorized;                                    -              -
      PresfhearrreesdiSsstoucekdSanedrieosuBtst-an$d2i0n0g:st0atiend2v0a2l0uean-d5210,01090sharesauthorized;                                    -              -
      CosmhamreosniSsstuoecdk:-1$30,4.07041,1p1a6rivna2lu0e20-a3n0d,020001,090;0sharesauthorized;
       sharesoutstanding:13,446,276in2020and2019                                               13             13
      Additionalpaid-in-capital                                                           41,182           41,088
      Accumulateddeficit                                                             (35,560)          (33,164)
      Accumulatedothercomprehensiveloss                                                   (6,725)           (6,618)
      Treasurystock-atcost-27,840commonsharesin2020and2019                                     (3,063)           (3,063)
        Totalstockholders'deficit                                                        (4,153)           (1,744)
    TOTALLIABILITIESANDSTOCKHOLDERS'DEFICIT                              $        10,783  $        12,254
    The accompanyingnotesareanintegralpartofthesecondensedconsolidatedfinancialstatements.
                                   TCROANNSSO-LLIUDXATCEODRPSOTARTAETMIOENNTASNODFSOUPBESRIDAITAIROINESS
                                                (unaudited)
                                                       3MoJnutnhes3E0nded             6MoJnutnhes3E0nded
    Inthousands,exceptpersharedata                              2020          2019          2020          2019
    Revenues:
     Digital productsales                              $       1,518  $       3,113  $       2,852  $       6,204
     Digital productleaseandmaintenance                             531           634          1,110          1,142
       Totalrevenues                                        2,049          3,747          3,962          7,346
    Costofrevenues:
     Cost ofdigitalproductsales                                  2,003          2,219          3,706          4,741
     Cost ofdigitalproductleaseandmaintenance                         139           180           325           389
       Totalcostofrevenues                                    2,142          2,399          4,031          5,130
    Gross(loss)profit                                         (93)          1,348           (69)         2,216
    Generalandadministrativeexpenses                              (1,037)         (1,313)         (2,267)         (2,420)
    Restructuringcosts(expense)benefit                               (10)            -            29            -
    Operating(loss)income                                    (1,140)           35         (2,307)          (204)
    Interestexpense,net                                        (155)           (80)          (263)          (335)
    (Loss)gainonforeigncurrencyremeasurement                          (89)           (50)           113          (107)
    Gainonextinguishmentofdebt                                    -           (245)            -          (193)
    Pensionbenefit(expense)                                      37           (19)           73           (37)
    Lossbeforeincometaxes                                   (1,347)          (359)         (2,384)          (876)
    Incometaxexpense                                          (6)            (6)           (12)           (12)
    Netloss                                      $       (1,353)  $        (365)  $       (2,396)  $       (888)
    Losspershare-basicanddiluted                        $       (0.10)  $       (0.03)  $       (0.17)  $       (0.10)
    Theaccompanyingnotesareanintegralpartofthesecondensedconsolidatedfinancialstatements.
                                CONSTORLAIDNAS-TLEUDXSCTOATREPMOREANTTISOONFACNODMSPURBESHIDENIASRIVIEESLOSS
                                                (unaudited)
                                                       3MoJnutnhes3E0nded             6MoJnutnhes3E0nded
    Inthousands                                         2020          2019          2020          2019
    Netloss                                      $       (1,353)  $        (365)  $       (2,396)  $       (888)
    Othercomprehensiveloss:
     Unrealized foreigncurrencytranslationgain(loss)                       84            46           (107)           98
    Totalothercomprehensiveincome(loss),netoftax                        84            46           (107)           98
    Comprehensiveloss                                $       (1,269)  $        (319)  $       (2,503)  $       (790)
    Theaccompanyingnotesareanintegralpartofthesecondensedconsolidatedfinancialstatements.
                             CONSOLIDATTERDASNTSA-TLEUMXECNOTRSPOOFRACTHIAONNGAENSDINSUSTBOSICDKIAHROILEDSERS'DEFICIT
                                                 (unaudited)
                                     Preferred Stock                    Add'l           AccOumthuelrated      STtootcakl-
                                 SeriesA        SeriesB    CommonStock  Paid-in Accumulated Comprehensive Treasury  holders'
    In thousands,exceptsharedata           Shares  Amt    Shares   Amt   Shares   Amt  Capital   Deficit      Loss     Stock   Deficit
    For the6monthsendedJune30,2020
    Balance January1,2020                - $   -       - $   - 13,474,116$  13 $41,088 $  (33,164) $    (6,618) $(3,063) $ (1,744)
    Net loss                         -    -       -     -       -    -     -    (2,396)         -      -   (2,396)
    Issuance ofwarrants                   -    -       -     -       -    -     94        -         -      -     94
    Other comprehensiveloss,netoftax:
      Unrealizedforeigncurrencytranslationloss     -    -       -     -       -    -     -        -       (107)     -    (107)
    Balance June30,2020                 - $   -       - $   - 13,474,116$  13 $41,182 $  (35,560) $    (6,725) $(3,063) $ (4,153)
    For the3monthsendedJune30,2020
    Balance April1,2020                  - $   -       - $   - 13,474,116$  13 $41,088 $  (34,207) $    (6,809) $(3,063) $ (2,978)
    Net loss                         -    -       -     -       -    -     -    (1,353)         -      -   (1,353)
    Issuance ofwarrants                   -    -       -     -       -    -     94        -         -      -     94
    Other comprehensiveincome,netoftax:
      Unrealizedforeigncurrencytranslationgain    -    -       -     -       -    -     -        -        84      -     84
    Balance June30,2020                 - $   -       - $   - 13,474,116$  13 $41,182 $  (35,560) $    (6,725) $(3,063) $ (4,153)
    For the6monthsendedJune30,2019
    Balance January1,2019                - $   -    16,512 $ 3,302  3,652,813$  4 $30,069 $  (31,682) $    (6,394) $(3,063) $ (7,764)
    Net loss                         -    -       -     -       -    -     -     (888)         -      -    (888)
    Preferred stockconvertedtoCommonStock     -    -   (15,864)  (3,172) 1,586,400   1   3,171        -         -      -      -
    Exercise ofwarrants,netofcosts            -    -       -     -  5,670,103   6   5,292        -         -      -   5,298
    Rights Offering,netofcosts              -    -       -     -  2,500,000   2   2,426        -         -      -   2,428
    Dividends paidonpreferredstock           -    -       -     -       -    -     -      (73)         -      -     (73)
    Other comprehensiveincome,netoftax:
      Unrealizedforeigncurrencytranslationgain    -    -       -     -       -    -     -        -        98      -     98
    Balance June30,2019                 - $   -      648 $  130 13,409,316$  13 $40,958 $  (32,643) $    (6,296) $(3,063) $  (901)
    For the3monthsendedJune30,2019
    Balance April1,2019                  - $   -      648 $  130  7,301,069$  7 $35,238 $  (32,278) $    (6,342) $(3,063) $ (6,308)
    Net loss                         -    -       -     -       -    -     -     (365)         -      -    (365)
    Preferred stockconvertedtoCommonStock     -    -       -     -       -    -     -        -         -      -      -
    Exercise ofwarrants,netofcosts            -    -       -     -  3,608,247   4   3,294        -         -      -   3,298
    Rights Offering,netofcosts              -    -       -     -  2,500,000   2   2,426        -         -      -   2,428
    Other comprehensiveloss,netoftax:
      Unrealizedforeigncurrencytranslationloss     -    -       -     -       -    -     -        -        46      -     46
    Balance June30,2019                 - $   -      648 $  130 13,409,316$  13 $40,958 $  (32,643) $    (6,296) $(3,063) $  (901)
    The accompanyingnotesareanintegralpartofthesecondensedconsolidatedfinancialstatements.
                                   CTORANNSOS-LLIUDXATCEODRSPTOARTAETMIOENNTASNODFSCUABSSHIDFILAORWIESS
                                                (unaudited)
                                                                               6MoJnutnhes3E0nded
    Inthousands                                                                2020            2019
    Cashflowsfromoperatingactivities
    ANedtjulostsmsenttoreconcilenetlosstonetcashusedin                                     $        (2,396)  $         (888)
      operatingactivities:
     Depreciation andamortization                                                          278             320
     Amortization ofrightofuseassets                                                        145             182
     Amortization ofdeferredfinancingfeesanddebtdiscount                                           42             71
     Loss ondisposalofassets                                                              5              -
     Loss onextinguishmentofdebt                                                           -             193
     (Gain) lossonforeigncurrencyremeasurement                                                (113)            107
     Issuance ofwarrants                                                                94              -
     Bad debtexpense                                                                  46             162
     Changes inoperatingassetsandliabilities:
       Accountsreceivable,net                                                            581            (445)
       Inventories                                                                    29            (332)
       Prepaidsandotherassets                                                           (141)            (370)
       Accountspayable                                                                174           (2,975)
       Accruedliabilities                                                               (96)           (481)
       Operatingleaseliabilities                                                           (145)            (179)
       Customerdeposits                                                               292             378
       Deferredpensionliabilityandother                                                     (269)            417
        Netcashusedinoperatingactivities                                                   (1,474)           (3,840)
    Cashflowsfrominvestingactivities
    Equipmentmanufacturedforrental                                                         (16)              -
    Purchasesofproperty,plantandequipment                                                    (178)             (25)
        Netcashusedininvestingactivities                                                    (194)             (25)
    Cashflowsfromfinancingactivities
    Proceedsfromlong-termdebt                                                          1,184              -
    Proceedsfromwarrantexercise,netofcosts                                                     -            5,298
    Proceedsfromrightsoffering,netofcosts                                                      -            2,428
    Paymentsoflong-termdebt                                                              -           (3,037)
    Paymentsofdividendsonpreferredstock                                                       -             (73)
    Paymentsforfeesonextinguishmentofdebt                                                     -             (62)
        Netcashprovidedbyfinancingactivities                                                 1,184            4,554
    Effectofexchangeratechanges                                                           (3)              1
    Net(decrease)increaseincash,cashequivalentsandrestrictedcash                                      (487)            690
    Cash,cashequivalentsandrestrictedcashatbeginningofyear                                        1,385            1,623
    Cash,cashequivalentsandrestrictedcashatendofperiod                               $          898  $         2,313
    Supplementaldisclosureofcashflowinformation:
    Interestpaid                                                          $          151  $          267
    Incometaxespaid                                                                   15             22
    Supplementalnon-cashfinancingactivities:
    PreferredStockSeriesBconvertedtoCommonStock                                    $            -  $         3,172
    RerceopnocritleidatiionnthoefCcaosnhd,ecnassehdeCquoinvsaolleindtasteadndBraelastnrciceteSdheceatsshattoeanmdooufnptesriod:
    Currentassets
     Cash andcashequivalents                                                  $          248  $         1,413
    Long-termassets
     Restricted cash                                                                  650             900
    Cash,cashequivalentsandrestrictedcashatendofperiod                                 $          898  $         2,313
    Theaccompanyingnotesareanintegralpartofthesecondensedconsolidatedfinancialstatements.
    
    
    NOTES TOTRCAONNSD-ELNUSXECDOCROPNOSROALTIIDOANTAEDNDFISNUABNSCIDIAIALRSITEASTEMENTS
    
    Ju(unnea3u0d,it2e0d2)0
    
    Note 1 ¨C Basis of Presentation
    
    As used in this report, ¡°Trans-Lux,¡± the ¡°Company,¡± ¡°we,¡± ¡°us,¡± and ¡°our¡± refer to Trans-Lux Corporation and its subsidiaries.
    
    oFpininaniocniaol finmfoarnmagateimonenitn,cnluedceedssahreyrefionritshuenfaauirdiptereds,ehnotawtieovnero, fsuthceh CinofnodrmenasteiodnCroenflseocltisdaatleldadFjiunsatnmceianltsS(taotfema ennotrsmfaolr atnhde rinecteurrirmingpenraiotudrse.)T, hwehircehsualtrse,foinr tthhee
    
    Sinttaetreimmepnetsrihoadvsearbeeennotpnreepcaersesdariinlyaicncdoicrdaatinvceeowf itthherruelseu1lt0s-0to1boef eRxepgeucltaetdiofnorSt-hXe pfurollmyuelagra. teTdhbeyacthceomSepcaunryiitniegs uannaduEdixtecdhaCngoendCeonmsemd iCssoinosnol(itdhaete¡°dSEFCin¡±a)nacniadl
    
    t(h¡°GerAefAorPe¡±)d.oTnhoet Cinocnluddeensaeldl CinofnosrmolaidtiaotnedaFnidnafnocoitanloStetadteismcelonstusriensclruedqeudirehdereuinndsehroauclcdobuentrienagdpirninccoinpjluesncgtieonnerwaliltyh tahceceCpotendsoilnidtahteedUFniintaendcSiatlatSetsatoefmAenmtseraincda
    
    nDoetceesminbcelru3d1e,d20in19thies dCeorimvepdanfryo¡¯smAthnenuDaelceRmepboerrt3o1n, 2F0o1r9mau1d0i-teKd ffoinranthceiayl estaarteemndeendts.December 31, 2019. The Condensed Consolidated Balance Sheet at
    
    The following new accounting pronouncements were adopted in 2020:
    
    IOnthJearnu(Taorypic2031570,).thAe SFUina2n0c1i7a-l0A4 cscimoupnlitfiniegs SthteantdesatrdfosrBgooaorddw(i¡°lFl AimSpBa¡±ir)misesnute. dAAscrceoquunirteindgbySttahnidsasrtdasndUarpdd,atthee(C¡°AomSUpa¡±n) y20a1d7o-p0te4d, IAnStaUng2i0b1le8s-0¨C7GonooJdawnuilalryan1d,
    
    2020. The adoption of this standard did not have a material effect on the Company¡¯s consolidated financial position and results of operations.
    
    Othtehesrigtnhiafnicathnet faocrceoguonitnigngchpaonligceise,stdheesrecrhibaevde ibneeonurnoAnmnautaelriaRlecphoarnt goens Finoromur1s0ig-Kniffiocrantht eacyceoaurnetinndgedpoDlieccieesmdbuerrin3g1,th2e01si9x, mwohnicthhsweansdefdileJdunweit3h0,th2e02S0ECfroomn
    
    March 20, 2020.
    
    The following new accounting pronouncements, and related impacts on adoption, are being evaluated by the Company:
    
    mInoAdiufigeusstth2e0d1i8sc, ltohseurFeArSeBquiirsesmueedntAs SfoUr e2m01p8lo-1y4e,rsCtohmatpsepnosnastoiornde¨CfiRneetdirbeemneenftitBpeennesfiiotns ¨CorDoethfienrepdoBsterneteifrietmPelannt spl¨CanGs.enPeurballic(Sbuubstionpeiscs 7en1t5i-ti2e0s)s. hoAuSldUa2p0p1ly8-t1h4e
    
    aEmarelnydamppenlitcsatiinonASisUpe2r0m1i8tt-e1d4. foTrhfeisCcaolmypeaanrys bdeogeisnnnointgexapfteecrtDtheeceamdobpetrio1n5,o2f 0th2i0s, sitnacnlduadridngtoinhtaevriemapmeraitoedrisalweitfhfeincttohnostehefisCcoaml ypeaanrys¡¯s(ic.eo.n, sJoalniudaarteyd1f,in2a0n2c1i)a.l
    
    position and results of operations.
    
    Note 2 ¨C Going Concern
    
    gAoifnugndcaomnecnertanl, pwrihniccihplceoonftetmheplparteepsacroatnitoinnuoitfyfionfanocpiaelrasttiaotnesmaenndts tihnearcecaolridzaatnicoen wofithasGseAtsAaPndis sthetetlaesmsuenmtpotifonliatbhialtitaiens eonctictuyrrwinilgl cinontthineuoerdinineaxryistceonucreseasoaf
    
    rbeuqsuinireesms.enTth, itshperiCnocmippleanisyahpapslicparbelpeartoedaliltsenatcitcioesmepxacneypitngforCeonntditeinesseidn lCiqounisdoaltiidoanteodr eFnintiatinecsiafol rSwtahteicmhelniqtsuiadsastuiomninagpptehaersCiommmpianneyntw. iIlnl accocnotirnduaencaeswaitghotihnigs
    
    concern.
    
    bDruieeftsohtuhtedoownsnetofofouthremcaonrounfaacvtiurruisnginftahceilistiyx imn oMntihsssoeunrdi,eadsJwuneell 3a0s,a2r0e2d0u,ctthioenCionmsaplaensyoerdxepresrifernocmedcudsetloamyserins.shAispma erenstsulftr,otmhesCuopmplpiearnsyininAcusirar,edfoallonweteldosbsyoaf
    
    $2.4 million in the six months ended June 30, 2020 and had a working capital deficiency of $5.1 million as of June 30, 2020.
    
    oTpheeraCtionmg ppaenryfoirsmdaenpceenidsendtepoenndfeuntutroenopgeernaetrianlgepceornfoomrmicanccoendinitioorndse,ratsowgeelnlearastefinsaunffciicaile,nctocmasphetiftliovwesanind oortdheerr tfoacctoornstinbueyeotnodruonuritcsonbtursoiln,eisnscelsu.dinFgututhree
    
    timravpealctreosftrthiceticounrsr,einntteecrrounpotmioincsetnovsiuropnpmlyecnht,atihnes sapnrdeaedxtoefnmdeadjosrheuptiddoewmnicsof(ibnucsluindeinssgesc.orIonnaovrdireurs)toanmdooretheefrferecltaivteedlyumncaenratagientiitesscsauschhraessoguorvceersn,mtheenCt iommppoasneyd
    
    hdealda,yferdomcetritmaien tdoetliimveer,ieinsctoreoasuerdcuthsetotmimeersta. ble of its payment of some of its payables, which delayed certain product deliveries from our vendors, which in turn
    
    nTehxetre12ismsuobnsthtasnftriaolmdothuebtdaastetoofwishseuthanercewoefwthililshFaovrema1d0eq-Qua. teAlisqtuoicdkihtyo,ldinecrloufditnhge aCcocmespsatnoythheasdceobmt amnditteeqdutiotypcroapviitdailnmg aardkdeittsio, ntoalocpaepriattael ouuprtbou$s2in.0esms iollvieorn,thtoe
    
    trheqeueirxetmenetntnseacnedssfaurnydtpootfeunntdialonpeewratoiopnpso.rtuTnihteiesC. ompany continually evaluates the need and availability of long-term capital in order to meet its cash
    
    Note 3 ¨C Revenue Recognition
    
    Rreecveeivneueiniserxecchoagnngiezefdorwthheonsea gcouostdosmoerr soebrtvaiicness.coTntorodleotefrpmrionmeisreevdegnouoedrseocor gsneritviiocnesfoinr aarnraanmgoeumnetntthsatthraetflaenctsentthietycodnetseidrmerianteiosnarwehwicihthtihnetehnetistcyoepxepoecftsthtios
    
    (sitiain)ddaertde,rmthieneCtohme ptraannysapcetriofonrmprsicteh;e(ifvo)llaolwloicnagtefitvhee sttreapnss:ac(it)ioindepnrtiicfeyttohethceopnetrrafocrt(ms)anwciethobalciguasttioomnseri;n(tihi)eicdoennttriafyct;thaendpe(rvf)orrmecaongcneizoebrliegvaetniouneswinhetnhe(ocroanst)ratchte;
    
    ecnotnistyidesraatitsiofinesitaispeenrftoitrlmedantoceinobelxicghaatinogne. foTrhteheCogmoopdasnyorosnelryviacpespliitestrathnesfefirvset-ostethpemcuosdteolmteor.coAnttrcaocntstrawchteinncietpitsiopnr,oobnacbelethtehactotnhteraecnt tiistydewteilrlmcionleldecttothbee
    
    wobitlhigiantitohnes sacnodpaessoefssthesiswshtaenthdearrde,acthheprCoommispeadnygoaosdseosrsesesrvthiceegisooddisstionrcts.eTrvhieceCsopmropmaniysetdhewnirthecinogenaiczhescaosnrteravcetnuanedthdeeatemrmouinntesofththoesetrathnastacatrioenpperrifcoermthaantcies
    
    balelhoaclafteodf tthoirtdhepraerstipeescatirveeexpcelrufodremdafnrocme orbelviegnautieo.n when (or as) the performance obligation is satisfied. Sales tax, value added tax and other taxes collected on
    
    oCbolnigtraatciotsn wbaisthedcounsttohmeeersstimmaatyedcorenltaatiinvemstualntidpalleonpeersfeolrlminagnpcreicoebs loigfatthieonpsr.omFisoerdspurcohduacrtrsanogresmerevnictse,s tuhnedetrralynisnagcteioanchppreicreforismaanllcoecaotbeldigtaotioena.chThpeerCfoormmpaanncye
    
    tdhertoeurmghinpeassstttarnadnasalocntieonses,lltihnegCporimcepsabnayseesdtiomnatthese tphreicsetaantdwalhoinceh sthelelipnegrfporricmeatnackeinogbliingtaotiaocncoisunstoaldvasielpabarleatienlyfo. rmIfatthioenstsauncdhalaosnme asreklleitngcopnrdiciteioinssnaontdobinsteerrvnaablllye
    
    approved pricing guidelines related to the performance obligations.
    
    Wperhfeonrmdeatnecrem, inreinsuglttihnegtriannsaacstiigonnifpicraicnet ofifnaanccoinntgraccto,manpoandejunst.tmAenptpilsyminagdtehief pparaycmtiecnatl ferxopmedaiecnutstionmpearroacgcrauprshe6it0h6e-r1s0i-g3n2if-i1c8a,nttlhyebCefoomrepaonrysigdnoiefsicnanottlyasasfetessr
    
    wpahyesthiseronaesiygenairfiocranletsfsi.naNnocninegocfothmepConoemnptaenxyis¡¯stsciofntthraecptsercioondtabientewdeaensiwgnhiefincathnet fCinoamncpianngycpoemrfpoornmesntitassoobfliJguanteio3n0s,u2n0d2e0r. the contract and when the customer
    
    cWuestoremcoergsniiszemreeavseunrueed binasaecdcoorndathnececownistihdetwraotiodnifsfepreecniftieadccionutnhteincgonsttarancdtawrdisth: 1th)eTcoupsitcom60e6r,aanndd 2e)xcTloupdiecs8a4n2y.saUlensdienrcTenotpiivces60an6d, raemveonuunetsfrcoomlleccotendtroanctbsewhaitlhf
    
    o60f 6th. irOdupracrotinetsr.acAtspweirtfhorcmusatnocmeeorbslgigeanteioranlliys daopnroomt iinsceluindeamcounlttirpalcet ptoertfroarnmsfaenrcae doibsltiignacttiognoso.dWoresreercvoigcneitzoe arecvuesntuoemwerh, eanndwiesstahteisufyniat poefrafcocrmouanntcuenodbelrigTaotipoinc
    
    bexycthraanngsfeefrorirnsgucchonptrroodl uocvtserorasperrovdicuecst. or service to a customer. The amount of revenue recognized reflects the consideration we expect to be entitled to in
    
    Disaggregated Revenues
    
    Twhitehftohlelorwepinogrtatbablelesergepmreensetnfotsr aeadcihsacgagtereggoaryti:on of revenue from contracts with customers for the three and six months ended June 30, 2020 and 2019, along
    
                                     JunTeh3r0e,emonthseJnudneed30,  JuneS3ix0,monthsenJudneed30,
    Inthousands                            2020       2019       2020       2019
    Digital productsales:
     Catalog andsmallcustomizedproducts        $     1,518 $     3,113 $    2,852 $    6,204
     Large customizedproducts                       -         -         -         -
       Subtotal                             1,518       3,113      2,852      6,204
    Digital productleaseandmaintenance:
     Operating leases                           236        338       515       630
     Maintenance agreements                       295        296       595       512
    TotalSubtotal                        $     2,054391$    3,764374$    31,,916120$    71,,314462
    
    
    Performance Obligations
    
    The Company has two primary revenue streams which are Digital product sales and Digital product lease and maintenance.
    
    Digital Product Sales
    
    TschoereCboomarpdas.nyForerctohgenCizoems pnaent yr¡¯esvceantuaeloognpdroigdiutacltsp, rroedvuenctuesailsesgetnoeirtaslldyisrtercibougtniioznedpawrhtneenrsthaencdutsotoemnedr uosbetrasinrselcaotendtrotol odfigthitealCdoimspplaaynys¡¯oslpurtoiodnuscta,nwdhfiicxhedocdciugrist
    
    raetvaenpuoeinitsineittihmere,reacnodgmniazyedbeatuapopnoisnhtipinmteinmteororupoovnerdteilmiveerdyepbeansdedinognotnhethceosnitzreacotufatlhsehcipopnitnragctte. rmFosrotfhaosceoncutrsatcotm. iFzeodr tphreodCuocmt pcaonnytr¡¯ascctsustthoamt iazreedspmraoldleurctisn,
    
    osirzeu,proenvedneulieveisrygebnaesreadllyonretchoegcnoiznetrdacwtuhaelnsthhieppciunsgtotmeremr sobotfaianscocnotnrtarcotl. oFf othrethCoosme pcuanstyo¡¯ms pizreoddupcrto,dwuhcticchoonctrcaucrtss atht aatpaorientlairngetirmien, sainzde,mreavyenbueeupisonreschoigpnmizeendt
    
    othveercutismtoembiazseeddporondiuncctutroretdhecocsutsstoams ceor.mTphaereCdotmo pparonjyecmteady caolssotscuosnitnrgactthwe iitnhpautcmusettohmoder, atos ptheirsfobremstirnesftlaelclatstitohnesCerovmicpeasnoyf¡¯sdipgriotaglredsisspinlaytrapnrosfdeurcritns.g Scoimntirloalr otof
    
    tchoentlraarcgtecrocsutsstoinmcuizrereddptroodduactetsc,othmepCaroemd ptoanthyeretoctoaglneixzpeescttheedrceovsetnsutoe absesioncciuatrereddw. ith installation services using the input method, whereby the basis is the total
    
    Rvaerviaebnlueecoonnssiadleesrattoiodni,sttrhiebuCtioomn ppaanrtyneersstiamreatreescothrdeeadmnoeutnotfopfrovmarpiat-bplaeycdoinsscioduenratsti,oinf otfhfaetresdh,oaunldd boethienrcdluedduedctiionntsh.eTtoratnhseacetxiotenntptrhiceetruatnilsiazcintigonthperimceoisntclliukdeelys
    
    pamayosuonnt -mtiemtheoodrtdooweshincoht.theVaCroiambpleancyonesxipdeecratstiotonbies einnctiltuldeded. iInn tthhee ctraasnesaocftpiornomppritc-epaiyf,diinsctohuenCtso, mthpearenya¡¯rsejoundlgymtewnot,piot sissibplreoobuabtcloemtheast: eaitshigernitfhiecacnutsftoumtuerer
    
    lraervgeerlsyaloonfacnumasusleastsimveenretvoefntuhee uCnodmerptahney¡¯csoanntrtaiccitpwatieldl npoetrfoocrmcuarn. ceDeatnedrmalilnaintifoonrmoaftwiohne(thheisrtotoricianlc,lucduerreensttimanadtefdoraemcaosutendts) itnhatthies trreaanssoancatibolny parviacielaabrlee.baTshede
    
    Cfaocmtspaanndycbirecliuemvesstatnhcaetsthceouelsdtirmesautelts iint hthaes eessttiamblaitsehdedamaroeurnetasstoonavbalrey.baTsheed Cupoomnpcaunryreonftfefrasctasnaansdsucriarcnucme-stytapnecewsa. rrAanptpylytihnagt tdhieffedriegnittajluddigsmpleanytsprtoodtuhcetssawmilel
    
    conform to the published specifications. Returns may only be made subject to this warranty and not for convenience.
    
    Digital Product Lease and Maintenance
    
    rDeingtietdalepqruoidpumcetnlet aastethreeveenndueosf rtehperleesaesnet arenvdednouensoftrgoemnelreaatseinmgaeteqruiiaplmreevnetntuheatfrwoemoswalne.s Wofeeqduoipnmotegnetnuenrdaellryspurcohvoidpetioannso. pOtiounr lfeoarstehreevleesnsueeestodopunrocthiansceluthdee
    
    omwatne.riaLleaamseouanntds mofavinatreinabanlecepacyomnternatcst.s gDeingeitraalllpyrorudnucftomr apienrtieondasnocef orenveenmuoensthreptore1se0nyt eraervse.nuAescfornotmracmt aeinntteerneadncinetoagbreyetmheenCtsofmopr aenqyuiwpmithenat tchuasttowmeedromnaoyt
    
    ccoonntsaisint obfotphrloevaisdeinagndlamboairn, tpeanratnscaensdersvoifctewsa(reeithmearionrtebnoatnhcseeravsicmesaymbaye breeqaugirreeeddtoupmonaibnataseind othnethceusitnodmiveird¡¯usaelqcuuisptmomenetr cinonptrraocpte)r. oMpaeirnatteinnganccoensdeirtvioicnesatmthaye
    
    cmuestthoomdefro¡¯sr mseervasicuerinlogcaptrioognr.esTs htoewCaordmspsaantiysfcyoinngcluthdeedpetrhfeorlmeaasneceanodblmigaaitniotennoafnctheesseersveicrveiscerespirsetsheentinapusetrmieesthoofdd.isAtidndctitisoenrvalilcye,smaanidnttehneanmcoessterrevpicreessernetqautiivree
    
    tlehaesCe oamndpmanayinttoen¡°asntacnedterremadsy, ¡±thteoCporomvpidaenysuwpipllorret ctoogtnhiezecurestvoemnueer wstrhaeinghatn-ldinief noeveedrethde. lAeasstehaenred ims aniontdeinsacnecrneatbelrempsaottfesrenrvoifceef.forts other than evenly over the
    
    mThoentChoomfpsaenrvyicheass. aLneeansefoarncedamblaeinritgehntantocepasyermveicnet faomropuenrtfsorbmilalendceahcoeamdpolefterdevteonduaetere, caosgenviitdioenncaerde breyctohrederdeqiunirdeemfeernrtedthraetvtehneuceuastnodmaerrepianycluupdferdonint faocrceruacehd
    
    liabilities in the Condensed Consolidated Financial Statements.
    
    Rleeavseenpuaeysmfreonmts edquueiptmoetnhteleCaosemapnadnymuanindteernaonpceeractoinngtralcetasseasrethreactoegxnpizireedadtuvrianrgyitnhge tdeartmesotfhtrhoeugrehsp2e0c3t0ivefoargirtesemreenntatsl. eAqutiJpumneen3t0a,n2d02m0a, itnhteenfuatnucree cmoinntirmacutms,
    
    2as0s2u2m, $in2g49n,o00re0n¨Cew2a0l2s3o,f$e1x7i7s,t0in0g0l¨Cea2s0e2s4oranadny$4n4ew4,0le0a0stehse, raegagftreerg.ating $1,987,000 are as follows: $301,000 ¨C remainder of 2020, $496,000 ¨C 2021, $320,000 ¨C
    
    Contract Balances with Customers
    
    Cthoenptraascstagasesoetfstipmriem. aTrihlye rceolnatteratcot raisgshettss taorecotrnasnisdfeerrarteidontofothr egoreocdesivoarbsleersvwichesentrtahnesfreigrrhetds tboecthoemceuustnocmonedr iwtihoennalt.heArsigohftJiusnceo3n0d,it2io0n2a0l aonndsDomeceetmhibnegro3t1h,er20th1a9n,
    
    tthraensCfoermopfancoynhtraodl ntoo tchoenctruasctot masesretasn.dTthheerecfoonrterarcetvelinaubeiliitsiersecporgimniazreidlyornelcaotemtpoletthieonadovfadnecleivceoryn.siCdeornattriaocnt rleiacbeiilviteidesfraorme cclaussstiofmieedrsasfodrefceornretrdacretsvepnriuoer btoy tthhee
    
    Company and are included in customer deposits and accrued liabilities in the Condensed Consolidated Balance Sheets.
    
    The following table presents the balances in the Company¡¯s receivables and contract liabilities with customers:
    
    Inthousands                                            Ju2n0e2300,  Dece2m0b1e9r31,
    Gross receivables                                      $      2,564 $      3,124
    Allowance forbaddebts                                          809         743
    Net receivables                                              1,755        2,381
    Contract liabilities                                             921         230
    
    
    DthuercinognttrhaectthliraebeilaitnydbsaixlanmcoenstihnstehnedreedspJeucnteiv3e0p,e2r0io2d0sa: nd 2019, the Company recognized the following revenues as a result of changes in the contract asset and
    
                                     JunTeh3r0e,emonthseJnudneed30,  JuneSi3x0m,onthsenJduende30,
    Inthousands                            2020       2019       2020       2019
    Revenue recognizedintheperiodfrom:
    Abmegoiunnntisnigncolfutdheedpienritohdecontractliabilityatthe     $      28 $      149 $      82 $     350
    P(efrofroremxaamncpeleo,bdluigeattoiocnhsasnagtiessfiiendtrinanpsraecvtiioounsppriecreio)ds-         -         -         -
    
    
    Transaction Price Allocated to Future Performance Obligations ¨C alternative more qualitative presentation
    
    gRueimdaaninciengprpoevrifdoersmcaenrctaeinobplrigacattiicoanlserxepperedsieennttss tthheattrlaimnsiatctthioisnrperqiuciereomf ecnotntarnadct,sthfoerrewfohriec,hthweorCkohmapsannoyt bdeoeens pneortfdoirsmcleodse(otrhheavsablueeenopfaurntisaaltliysfpieedrfopremrfeodr)m. aTnhcee
    
    Cobolmigpaatinoynshfaosr t(hi)ecroingthrtacttos winivthoicaen oforirgisnearlviecxepsecpteerdfolremngetdh. ofAosneofyeJaurneor3l0e,ss2a0n2d0,(itih)ecoangtgrarecgtsatfeorawmhoiucnhtreovfetnhuee tirsanrescaocgtinoinzepdriactethaelloamcaoteudnttoto rwemhiacihnitnhge
    
    performance obligations for digital product sales was $2.6 million and digital product lease and maintenance was $2.0 million.
    
    mThoentChosmanpdan3y7eoxrpmecotrsetmo orenctohgs,nriezsepreecvteivneuley.on approximately 71%, 14% and 15% of the remaining performance obligations over the next 12 months, 13 to 36
    
    Costs to Obtain or Fulfill a Customer Contract
    
    TsehreviCceosmtpoawnyhiccahpitthaelizaessseitnscrreelmateen. taAl pcopslytsinogf tohbetapirnaicntgiccaulsetoxmpeedriecnotnitnracptasr.agCraapphita3li4z0e-d40c-o2m5-m4i,stshioenCs oamrepaamnyorrteizceodgnbiazseesdthoen itnhceretmraennsftaelr coofstthseopfroobdtuacitnsinogr
    
    ccoosnttsraacrtes iansclaundeedxpinenGseenwerhaelnanindcaudrrmediniifsttrhaetivaemeoxrptieznastieosn. period of the assets that the Company otherwise would have recognized is one year or less. These
    
    TWheheCnosmhpipapniyngacacnodunhtasnfdolrinsghicpopsitnsgaarendinhcaunrdrelidngafatecrtivaictiuesstoremlaetredobtotaicnosnctroancttrsowl oitfhtchuesptormodeurcstas,s tchoestCsotmo fpualnfiyllatlhseo phraosmeilseectteodtrtaonascfecrouthnet afossrotchieasteedasprcoodsutscttso.
    
    faurelfirlelctohredepdroimn icsoesatsndofngootoadssasoseldpaarnadteapreerrfeocromgannizceedowblhigeantitohne.reSlahtiepdpifningisahneddhparnoddluincgt icsosshtsipapsesdoctoiattehde cwuisthtotmheerd. istribution of finished products to customers
    
    Note 4 ¨C Inventories
    
    Inventories consist of the following:
    
    Inthousands                                           Ju2n0e2300,  Dece2m0b1e9r31,
    Raw materials                                        $     1,474 $        1,393
    Work-in-progress                                            402          512
    Finished goods                                              277          277
                                                    $    2,153 $        2,182
    
    
    Note 5 ¨C Rental Equipment, net
    
    Rental equipment consists of the following:
    
    Inthousands                                            Ju2n0e2300,  Dece2m0b1e9r31,
    Rental equipment                                      $      4,307 $      4,291
    Less accumulateddepreciation                                     3,507        3,364
    Net rentalequipment                                    $       800 $       927
    
    
    fDoerprreenctiaaltieoqnuiepxmpeennstefofrorthreenthtarel eeqmuoipnmthesnetnfdoerdthJuenseix30m,o2n0t2h0s aenndde2d01Ju9nwea3s0$, 7210,20000anadnd2$011096w,0a0s0$, 1re4s3p,e0c0t0ivaenlyd. $212,000, respectively. Depreciation expense
    
    Note 6 ¨C Property, Plant and Equipment, net
    
    Property, plant and equipment consists of the following:
    
    Inthousands                                            Ju2n0e2300,  Dece2m0b1e9r31,
    Machinery,fixturesandequipment                             $      3,045 $      2,884
    Leaseholds andimprovements                                       23         23
                                                          3,068        2,907
    Less accumulateddepreciation                                      746         623
    Net property,plantandequipment                             $      2,322 $      2,284
    
    
    fMinaacnhciinnegrya,gfriexetmureenstas.nd equipment having a net book value of $2.3 million at June 30, 2020 and December 31, 2019 were pledged as collateral under various
    
    DDeepprreecciiaattiioonn eexxppeennsseefofor rprporpoepretyrt,yp,lapnlat natndanedqueipqmuiepnmt efnotr tfhoer ththreeesmixonmthosnethnsdeedndJuendeJ3u0n,e203200, a2n0d2020a1n9dw2a0s1$959w,0a0s0$a1n3d5$,05040,00an0d, re$s1p0e8c,t0iv0e0l,y.respectively.
    
    Note 7 ¨C Long-Term Debt
    
    Long-term debt consists of the following:
    
    Inthousands                                            Ju2n0e2300,  Dece2m0b1e9r31,
    8?% Limitedconvertibleseniorsubordinatednotesdue2012              $       352 $       352
    9?% Subordinateddebenturesdue2012                                 220         220
    Revolving creditline                                            373          -
    Termloans-relatedparty                                        1,000        1,000
    Termloan                                                  811          -
    Forgivableloan                                               650         650
    Totaldebt                                                 3,406        2,222
    Less deferredfinancingcosts                                       194          -
    Net debt                                                  3,212        2,222
    Less portionduewithinoneyear                                    2,107        1,572
    Net long-termdebt                                     $      1,105 $       650
    
    
    OagnreSeempetenmt tboerth1e6,L2o0a1n9A, tghreeeCmoemnpt.anTyheenLteoraend Aingtoretehme eLnotahnaAs agrteeermmeonft twhirteheMyeidarCsa, pu.nlOesns Jeuanrleie3r, t2e0rm20i,nathteedCboymtphaenpyaartnidesMinidaCccaoprednatnecreedwiinthtotahemtoerdmifiincaattiioonn
    
    pLrIoBvOisRioinnsteorfestht eraLteopanlusA4g.r7e5e%me(n6t..18T%heatLJouanneA30g,re2e0m20en) toanllaowresvothlveinCgocmrepdaintylotaonbboarsroedwounpatcocoaunnatgsgrerecgeaivteabolfe,$i4n.v0emntiollriyonanadt eaqnuiinptmereenstt froartegoenfetrhael 3w-omrkoinntgh
    
    ccaerptiatianl pfeuersp,oisnecsl.udAinsgoaf Jfuacnieli3ty0,fe2e0,2a0n, tuhneusbeadlacnrceediotultisnteanfdeienganudnadecrotlhlaeteLraolanmAongirteoerimngencthwaragse$. 3T73h,e00L0o.anTAhegrLeoeamnenAtgcroeenmtaeinnst failnsaonrceiqaluiarneds tohtehepracyomveenntanotf
    
    mreqounitrhesmeenndtesd, iSnecplutedminbgerfi3n0a,n2ci0a2l0c.ovTehneaLntosatnhaAtgrreeqeumireentthies sBeocrurroewdebrys tsoubastttaainnticaellrytaailnl EofBtIhTeDBAoraromwoeurnst¡¯safsosretcse.rtain periods, the first of which is for the three
    
    OSmnaAllpBriul s2i3n,es2s02A0d,mthieniCstoramtipoannoyfetnhteerUedniitnetdoSataloteasnonfoAtem(ethrieca¡°L(¡°oSanBAN¡±o)t,e¡±d)atwedithasEonfteArpprriisle2B0,an2k02a0n.d UTrnudsetr(t¡°hLeeLndoearn¡±)Naostele, nthdeerCuonmdepranthyebCoArroRwEeSdA$c8t1o0f,8t0h0e
    
    f2r0o2m0,LthenedCeor munpdaenrythheadPaaycmcreunetdP$r2o,t0e0c0tioonf Pinrtoegrerasmt re(l¡°aPtePdP¡±to) itnhceluLdoeadniNn othtee,SwBhAic¡¯shCisAinRcEluSdAedcti,nalAl cocfrwuehdiclhiaibsiloituitesstainndtihnegCasonosfoJluidnaete3d0,B2a0la2n0c.eASsheoeftJsu. neT3h0e,
    
    sLaolaanrieNs,octeomprmociseseidosnsa,raenfdorsgimivialbarlecoafmtepreenisgahtitown,egerkosuapshleoanlgthacsatrheebCenoemfiptsa,naynduspeasidthleealvoea;nrpenrot;ceuetidlsitifeosr; ealnidgimblaeinptuaripnossietss pinacylruodllinlgevpealsy.roTllhecoasmtso, uinnctloufditnhge
    
    ilosapnayfoarbgleivoevneersstwwoillybeaerrseadtuacnedinitfetrheestbroartreoowfe1r.t0e0rm%i,nwatieths eamdpelfoeyrreaelsoofrpraeydmuceenstssafolarritehse dfiurrsitnsgixthme oenigthhst.wWeehkilpeerthioedC. oTmhpeaunnyfobregliiveevnesptohratitointsoufsteheofPtPhPe llooaann
    
    pforrocfoeergdisvewniellssmoefetthtehelocaonn,dinitiwonhsoloefofroirngipvaernte. ss of the loan, we cannot assure you that we will not take actions that could cause the Company to be ineligible
    
    pTahyemCeonmt opfanayllhparsinaci$p5a0l0d,u0e00atlosaunchfrtoimmeC. aIrnlitselreesItnvisesptamyeanbtlse Imnco.n(t¡°hClya.rlCisaler¡±li)slaet haafsixaegdreiendtertoesnt orat tdeeomfa1n2d.0p0a%ym, wenhticohnmthaetulroeadnotnhrAoupgrihl a2t7,le2a0s1t 9Dweciethmabebru3ll1e,t
    
    2Ju0n2e0.30A, s2o0f20Juanned3D0,ec2e0m20b,etrh3e1e,n2ti0r1e9a,mthoeunCtowmapsaonuytshtaadndaicncgruaendd $is15in0c,0lu0d0edanidn $c1u2rr0e,n0t0p0o, rrteisopneoctfivloenlyg,-toefrmintdeerebsttinretlhateedCotonstohliisdaloteadn,BwahlainchceaSreheinectsl.udAeds oinf
    
    aincvcerustemdelniatbmilaitnieasgeinr otfheCaCrolinsdlee.nsed Consolidated Balance Sheets. Marco Elser, a former director of the Company, exercises voting and dispositive power as
    
    aTlhleprCinocmippaalndyuheaastasnucahddtiimtioen(atlh$e5¡°0S0e,c0o0n0dloCaanrlfirsolemACgarerleimsleenatt¡±a). fiIxnetedreinstteirsesptaryaatbeleofm1o2n.0th0l%y., wCahrilcihslemhaatusraegdroeendDtoecneomtbdeerm1a0n,d20p1a7ymweintht oanbtuhleleltopaanytmhreonutgohf
    
    Sathleeeatsst. DAesceomf Jbuenre313,02, 022002.0 AansdoDf eJucenme b3e0r, 23012, 02,0t1h9e, ethnetirCeoammpoaunnyt hwaadsaocuctrsuteadnd$i1n5g0a,n0d00isainndcl$u1d2e0d,0in00c,urrersepnetcptoivretiloyn, ooff ilnotnegre-tsetrrmeladteebdt tCootnhsisolliodaant,edwBhiaclhanacree
    
    itoncCluadrleidsleininacaccrcuoeudnltisarbeiclietiivesabinle,thmeaCteorniadlesnasneddiCntoannsgoilbildeasteredlaBtianlagntcoeaScheeretatsin. pUunrcdhearsteheorSdeecrofnodr eCqaurilpismleenAtgirseseumedenint,AthperiCl 2o0m1p7a.ny granted a security interest
    
    dAesfaoufltJ.unAes3o0f, J2u0n2e03a0n,d20D2e0ceamndbeDre3c1e,m2b0e1r93,1t,h2e0C1o9m, tphaenCyohmadpaonuytshtaanddaicncgru$e3d52$,301050,0o0f0Naontdes$.30T0h,e00N0o, treesspmeacttuivreedly,aosfoifnMteraerscthre1l,a2te0d12toatnhde aNroetecsu,rrwehnitclyh iins
    
    iNnocltuesdeodutisntaAncdcinruge,dbylianboitliictieestointhteheCComonpsaonlyidaanteddthBealtarunscteeeS,hmeeatys.deTchlearteruthsteeeo,ubtsytannodtiinceg tporitnhceipCaolmplpuasniyn,teorretshtedhuoeladnedrspoafy2a5b%le iomf mtheedpiaritnelcyi.pOalnamFeoburnutaroyf 1th5e,
    
    2an01a9g,ghreogldaeterspoafym$3e5n,t0b0y0 tohfethCeomNoptaensyaocfce$p7t,e0d00th.eACsoamrpeasnuylt¡¯sofoftfheer ttroanesxacchtaionng,etheaecCho$m1p,0a0n0yorfecporridnecdipaalg, afoinrgoivninthgeaenxytirnegluatieshdminetnetreosft,dfeobrt,$n2e0t0oifnecxapsehn,sfeosr,
    
    of $52,000 in the six months ended June 30, 2019.
    
    cAusrroefnJtluynein3d0e, f2a0u2lt0. aAnds DofecJeumnebe3r03, 12,022001a9n, dthDe eCcoemmpbaenry3h1a, d20o1u9ts,tathnediCngom$2p2a0n,y00h0adofacDcerbueendtu$r2e2s1. ,0T0h0e aDnedbe$n2t1u1r,e0s0m0,arteusrpedecatisvoeflyD, eocfeimntbeerers1t,r2e0la1t2edantod athree
    
    pDreinbceinptaulreasm, owuhnitchofisthiencDluedbeedntiunreAscocurtusetadnldiainbgil,itbieysniontitchee tCoothnesoCliodmatpedanByaalanndcteheShtreuesttse.e,Tmheaytrduestcelea,rebythenootuictsetatondtihnegCporimncpiapnayl,polrusthientheoreldsterdsuoefa2n5d%paoyfabthlee
    
    immediately.
    
    eTmheploCyommepnatnlyevhealss aare$a6t5ta0i,n0e0d0afnodrgwivoaublldeelxopainreforonmApthriel 1C,it2y02o5f. HIfazthelewCooomd,paMniyssaotutariin. s tThheeemlopalnoywmilelntbelevfoelrsgirveeqnuiorend abyprthoe-rafotargbivaasbisleifloparne,dtehteerremiisnnedo
    
    ianctcerrueesdt d$u1e3,7o,t0h0e0rwainsde $in1t1e8re,0st00ac, crreusepsecattivaerlayt,eooffinptreimreestprleulsat2e.d00t%o t(h5is.2l5o%ana, twJhuinceh3i0s,i2n0c2lu0d)e. dAins oafccJruuneed3l0ia, b2i0li2ti0esanind DtheecCemonbseorl3id1a,t2ed01B9a, ltahnecCe oSmhepeatnsy. hOand
    
    $Ju6l5y02,0,0200w20a,strheepaCidomonpatnhyatadnadtethaendCtihtye foofrgHiavzaebllwe olooadnawgraesesdattiosfaietderimn ifnuallt.ion of the loan and a forgiveness of all accrued interest. The principal balance of
    
    Note 8 ¨C Pension Plan
    
    cAosmopfeDnseacteiomnbienrcr3e1m, e2n0t0s3h,atdhebebeennferfoitzesneravnicde, aucncdoerrditnhgelyp,ennosiaodndiptliaonnahlabdenbeefeints farroezbeneinagnda,ccarcuceodrduinngdleyr,tthheepreenissionno pslearnv.ice cost. As of April 30, 2009, the
    
    The following table presents the components of net periodic pension cost for the three and six months ended June 30, 2020 and 2019:
    
                                       ThreemJuonneth3s0ended     SixmJounntehs30ended
    Inthousands                            2020       2019       2020       2019
    Interest cost                         $      96  $     126  $     193  $     251
    Expected returnonplanassets                    (204)       (173)      (407)      (345)
    ANemtopretirzioadtiiocnpoefnsnieotnac(btueanreifailt)loesxspense$     (3771)$      6196$     1(7431)$     13371
    
    
    iAnsaocfcrJuuende l3ia0b, i2li0ti2e0s ainndthDeeCcoemndbeenrs3ed1,C2o0n1s9o,ltihdeatCedomBpalaannycehaSdhereectso,rdanedd aa clounrrge-ntetrpmenpseionnsiolinabliialibtyiliotyf $o7f5$13,.0200mailnlidon$6a4n1d,0$030.5, rmesiplleicotniv, erelys,pwechtiivchelyis, iwnhcliuchdeids
    
    i$n6c4lu1d,0e0d0i,nofdewfhericrehdthpeenCsoiomnplaianbyilhitays aanlrdeaodtyhecroinntrtihbeutCedon$d8e5n,s0e0d0CasonosfoJluidnaete3d0,B2a0la2n0c.eASshaeleltosw. eTdhbeymthineimCourmonraevqiuriursedAcido,nRtreibliuetfi,oannidnE2c0o2n0oimsiecxSpeeccuterditytoAbcet
    
    (2t0h2e1¡°.CARES Act¡±), the Company has elected to defer the payment of the $556,000 of remaining minimum required contributions due in 2020 until January 1,
    
    Note 9 ¨C Leases
    
    TOhuerCloeamspesaniynclleuadseesbaodthmlienaisstera(teiv.ge.,afnidxemdapnauyfmacetunrtsinigncfalucdiliintigesrethnrto) uagnhd onpoenr-alteiansgelecaosmepaognreenemtse(net.sg..,TchoemCmoomnpaanreyahoars ontohefrinmanacientleenaasnecseascoosftsJ)u.nTeh3e0f,a2c0il2it0y.
    
    tleeramsess ainreclnuodteionncleuodredmionreouorptriiognhst toofruesneew(¡°.RTOhUe¡±e)xaesrsceistse oorf lleeaassee rlieanbeiwlitailesopatsiotnhseyisatryepnicoatllryeaastoonuarblsyolceedrtiasicnreotifoenx,ethrceirseef.orWe,ethreegruenlaerwlyalesvtaolueaxtteenthdethreenleewasael
    
    options and, when they are reasonably certain of exercise, we include the renewal period in our lease term.
    
    Ouspeerthateinlgealseeadseassrseestuflot rinthteheleraesceogtenrimtionanodf lReOasUe laisasbeitlsitiaensdrleeparseeselinatboiluitrieosbolingathtieonCotondmenaskeedlCeaosnesoplaiydmateedntBs.alOanpceeraSthinegetsle.asReORUOaUsseatssseretspraensdenltiaobuirlitriiegshtartoe
    
    ruesceoogunrizeesdtimatactoedmimncernecmemenetnatl dbaotrerobwasinedg orantethaet pthreesceonmt vmaeluneceomf elenatsdeapteaytomdeenttesrmovienretthheelpearesseetnetrmva.luAesomf loesatsoefpoauyrmleenastse.s Mdoonstotreparloevsitdaeteanleaimsepsliicnictlruadtee,ownee
    
    tohremleoarseeotpetrimon.sLtoearseenseww,itwhitahnrienniteiwalatletremrmosf t1h2atmcaonntehxsteonrdletshsealreeasneotterremcofrrdoemd 1ontoth5eyCeaornsdoernmseodreC.onLseoalsiedaetxepdeBnsaelainscreecSohgeneitzse.dTohneapsrtirmaiagrhyt-lelianseesbawsieseonvteerr
    
    into with initial terms of 12 months or less are for equipment.
    
    Supplemental information regarding leases:
    
    Inthousands,unlessotherwisenoted                                           Ju2n0e2300,
    Balance Sheet:
     ROUassets                                                  $        996
     Currentleaseliabilities¨Coperating                                             286
     Non-currentleaseliabilities¨Coperating                                           746
     Totalleaseliabilities                                                    1,032
    Weightedaverageremainingleaseterm(years)                                        3.2
    Weightedaveragediscountrate                                                9.0%
    Future minimumleasepayments:
     Remainderof2020                                                      183
     2021                                                              370
     2022                                                              348
     2023                                                              295
     Thereafter                                                             -
    Total                                                              1,196
    Less: Imputedinterest                                                     164
    Totalleaseliabilities                                                     1,032
    LLeosnsg:-Cteurmrrelnetalseealsieabliialibtiielisties                             $        724866
    
    
    Supplemental cash flow information regarding leases:
    
                                                    mFoonrtthhseethnrdeeedmFoonrthtsheensdixed
                                                      June 30,      June30,
    Inthousands                                             2020        2020
    OpCearsahtinpgaicdafsohrfalomwouinnftosrimncaltuiodned:inthemeasurementofleaseliabilities    $       91 $      194
    NoRnO-cUasahssaecttsivoibtyta:inedinexchangeforleaseliabilities                        -          -
    
    
    lTeoatsael eoxppeerantsienganledassehoerxt-pteenrmse laenadseshexoprte-ntesremwlaesas$e9e4x,0p0e0nsaenwd a$s18$,109050,,00re0spaencdti$v3e6ly,0, 0fo0r, trheesptehcrteievemlyo,nftohrsthenedseixd mJuonneth3s0,en2d0e2d0.JuTnoeta3l0o, p2e0r2a0ti.ngToletaasleopexerpaetninsge
    
    laenadsesheoxrpte-tnesremwlaesas$e12ex4p,0e0n0seanwda$s3$22,4090,00,0r0esapnedct$iv6e4l,y0,0f0o,r rtheseptehcrteievemlyo,nftohrstehnedseidxJmunoent3h0s, e2n0d1e9d. June 30, 2019. Total operating lease expense and short-term
    
    Note 10 ¨C Stockholders¡¯ Deficit and Loss Per Share
    
    The following table presents the calculation of loss per share for the three and six months ended June 30, 2020 and 2019:
    
                                        Three mJuonneth3s0ended  SixmJounntehs30ended
    INnuthmouesraantdosr,:exceptpersharedata                   2020      2019      2020      2019
     NChetanlogses,inasdirvepidoernteddsaccumulatedonpreferred      $  (1,353)  $   (365)  $  (2,396)  $   (888)
     shNareetslossattributabletocommonshares         $  (1,353-) $   (36(38))$  (2,396-) $   (9(2368))
    DWeneoimghitneadtoarv:eragesharesoutstanding              13,696     13,226     13,696     9,123
    Basic anddilutedlosspershare                $   (0.10)  $   (0.03)  $   (0.17)  $   (0.10)
    
    
    Bfoarstihcelopsesripoedr. coDmilmutoedn slohsasrepeisr ccoommpmuotendsbhyardeivisidcionmg pnuetteldosbsyadttirviibduitnagblneettolocsosmamttroinbusthaabrleestobycothmemwoenigshhtaerdesa,vberyagtheenwumeigbherteodfacvoemramgeonnushmabreesr oouf tcsotamnmdionng
    
    shares outstanding, adjusted for shares that would be assumed outstanding after warrants and stock options vested under the treasury stock method.
    
    ACot mJupnaeny30h,a2d0a2c0c,utmheulCatoemd puannpyaihdaddivniodeancdcsumofu$la5t,e0d00unreplaaitdedditvoidtheendSsBrCePlaSte. d to the Series B Convertible Preferred Stock (¡°SBCPS¡±). At June 30, 2019, the
    
    cAosnovferJtuibnlee3i0n,to206240,8, 0th0e sChoamrepsaonfyChoadmnmoosnhaSrteoscko,f SnoBnCePoSfowuhtsitcahndwinegre. uAssedofinJutnhee3c0a,l2cu0l1a9ti,otnheoCf odmiluptaendylhoasds 6p4e8r sshhaarreesboefcaSuBsCePthSeoirutcsotannvdeirnsgio,nwphricichewweares
    
    cgorenavteerrtethdatnhetihresahvaererasgientsohaCroempmricoen fSotrocthkeinpeMrioadrchan2d01th9e,irthiencCluosmiopnanwyodueldclahraevdeabdeeivnidaenntid-doiflu$ti4v.e6.0 pFeorr sehaacrhe hooflSdeBrCoPfSthoen1M5,a8r6c4h s2h9a,r2es01o9f, SaBggCrPegSattihnagt
    
    $73,000, which was distributed to these former holders of the SBCPS on April 2, 2019.
    
    AdisluotefdJulonses3p0e,r2s0h2a0reanbdec2a0u1se9,ththeeirCeoxmerpcaisneyphraicdewwaarsralnetsssttohapnurtchheaasvee2r5ag0e,0s0t0ocskhaprreisceoffoCrotmhempoenriSodtoscok tohuetisrtainncdliunsgiownhwicahswdielruetiivnec.luAdesdofinJuthneec3a0lc, u2l0a2ti0onanodf
    
    t2h0e1c9a, ltchuelaCtioomnpoafndyilhuateddoltohsesrpwearrsrhaanrtes tboecpauurscehathseei5r 0e0x,e0r0c0iseshparriecse awnads1g0r,e0a0te0rsthhaarnesth, ereasvpeercatgiveeslyto, cokf pCroicmemfoornthSetopcekriooudtsatnadndtihnegir, winhcilcuhsiownerweoeuxlcdluhdaevde fbreoemn
    
    eanxteir-cdiisleutpivriec.e oTfhteheresemwaianrirnagntws.arrants to purchase 500,000 shares could be dilutive in the future if the average share price increases and is greater than the
    
    OconmJmunenec4e,d2J0u2n0e, 1th5e, 2C0o2m0paanndy tehneteirneidtiailnttoerma CteornmtriancatteMs aDneucfaecmtubreirng31A, g2r0e2e0m.enTth(ethCe M¡°CAMaAll¡±o)wws iftohrCreranfetwsmalenteIrnmdsusotfrie1s80Indca. y(s¡°Ceraacfhts.mUenn¡±d)e. r TthheeCCMMAA,
    
    gCoraofdtssmaet nthsehaCllommapnaunfya¡¯cstumreanaunfdacstuupripnlgy gfaocoidlistyanlodcparteodvidine Halal zneelcweososadr,yMlaibsosor,umri.ateTrihaels,Cmomanpaagneymsehnatllexppreorvtiisdee, Canrdaftosvmeersnigahstsinsetacnescseartyo ttohemmanaunfuafcatcutrueritnhge
    
    tphreocCesMs,Athaeretescehcnuicreadl dbeytaailsseacsowndelllieans tohne caommopuanntyofasgsoeotsdsantodbheavperobdeuecnedg.uaTrhanetCeeMd AbyprUonviilduems itnhaUt SalAl pLaLymCe(n¡°tUs noiwluemdinbyUtSheAC¡±)o.mUpannilyumtoinCUraSftAsmiesnwuhnodlelyr
    
    tohwenCeodmbpyaUnyniilsusmueind wNaorrrtahnAtsm(tehreic¡°aW, warhroanotws¡±n)sto52p%urcohfatshee5C00o,m00p0ansyh¡¯asreosutosftathnediCngomCpoamnmy¡¯osnCSotmocmko.nISntococknnteocUtionniluwmitihn tUhSeAUnaitlaunmeinxeGrcuiasreapnrtieceeionft$h1e.0C0MpAer,
    
    ushsainreg.aTvhoelaWtilaitryraonfts15ar1e%exaenrdciasarbislke furneteilraJutenoef40, .22082%4.. TThhee CCoommppaannyyrceaclocrudlaetdedantheexpfaeinrsveaolufe$9o4f ,t0h0e0Winargreannetsraalsa$n9d4a,d0m00inuitsitlriaztiinvgetehxepBenlasceks-iSncJhuonlees2m02e0th. od,
    
    Note 11 ¨C Contingencies
    
    TChoempCaonmyphaansy aicscsruubedjecrtesteorvleegsailnpdrivoicdeueadlilnygsanadndincltahiemasgwgrheigcahtearfiosre sinucthheleogradlinparroyceceoduinrsges.ofSihtsoubludsiancetsusalanlidti/goartiwohnicrhesuarltes cdoivffeerredfrobmy itnhseurCanocme.panTyh¡¯es
    
    estimates, revisions to increase or decrease the accrued reserves may be required. There are no open matters that the Company deems material.
    
    Note 12 ¨C Restructuring
    
    TprhoegrCaomms.panIny trheecotrhdisrdreqsturaurctteurrionfg2l0ia1b9i,littihees Cthoamt rpeapnryeseanptprcohvaerdgersesintruccotnunriencgtiopnlawnsithtoccoonnsosolildidaatitoensthoefmcearntuaifnacotupreirnagtiofancsilaitsiews.ellTahsehCeaodmcopuannty rreedcuocrtdioend
    
    rceosntsruoclitduaritnegthceosmtsaonfuf$a3c0tu6r,0in0g0 ffaocriltihteieys.earTehnisderdesDtreuccetumribnegr 3re1l,a2te0s19to, wthheicdhigmitaailnlpyrocdouncstissteadlesofsceogsmtsentot. reTlohcraotuegehquDipecmeemnbt earnd31in, v2e0n1t9o,rythaendCootmheprancyosptsaitdo
    
    B$5a1la,0n0c0e Sohf eceotsatst Dtoecreelmocbaetre3e1q,u2i0p1m9e.ntInanthdeitnhvreenetaonryd. siTxhmeroenfothres,etnhdeedreJmuanieni3n0g, 2$022503,,0t0h0e Cwoams pinacnlyudpeadidin$1a0c,c0r0u0edanlidab$i2li2t4ie,0s0i0n,trheespCeocntidveenlys,etdoCcoomnspolleidteattehde
    
    cJuonneso3li0d,a2ti0o2n0oafntdhe($m29a,n0u0f0a)ctiunritnhge sfiaxcimlitoienst.hsAesndaerdesJuulnte, t3h0e, C20o2m0p,arneyspaedcjtuivsetelyd. thTehearcecrwuaelreanndo rreecsotrguncitzuerdingrecstorsutcstuinrinthgectohsretseoofr $s1ix0,m00o0ntihnstehnedtehdreJeuneend3e0d,
    
    2019.
    
    Note 13 ¨C Related Party Transactions
    
    The Company has the following related party transactions:
    
    UOnnilMumaricnhW4,ar2r0a1n9t,, rtahiesiUngnialunmaigngreexgeartceisoefd$$52..50mmiilllliioonnfoofr tthhee UCnoimlupmainny.WUarnrailnutm, ainndowonnsA5p2r.i0l %5, o2f01th9e, UCnoimlupmaniny¡¯esxoeurctsistaenddtihnegrCemomaimnionng S$t3o.5ckm. iNlliiocnhoolfasthJe.
    
    oFfazpiroo,dYuacnt gfrLomiu UanndiluYmanintaoinYthue, esaixchmdoirnetchtsoersndoefdthJeunCeo3m0p,a2n0y2,0araeneda2ch01d9i,rercetsoprescatinvde/loyr. oTffhieceCrsomofpUannyilupmuricnh.aTshede C$1o5m6p,0a0n0y apnudrc$h0asoefdp$ro1d8u9c,0t0f0roamndU$n2il1u,m00i0n
    
    ainndthDe ethceremebmero3n1th,s2e0n1d9e,dreJsupneect3iv0e, l2y0. 2I0nacnodnn2e0c1t9io,nrewspitehcttihveelUy.niTluhmeianmGouuanrtasnpteaeyainbltehebyCtMheAC, tohmepCaonmy ptoanUyniislsuumeidnWwaerrrean$t1s0t6o,0p0u0rcahnadse$500a0s,0o0f0Jusnhear3e0s,o2f0t2h0e
    
    dCeotmailpsa.ny¡¯s Common Stock to Unilumin USA at an exercise price of $1.00 per share. See Note 10 ¨C Stockholders¡¯ Deficit and Loss Per Share for further
    
    DInucrkoinnneLcatwio,nLwLCith¡¯strheeprCeosemnptaatnioyn¡¯soafgtrheeemCeonmt pwaintyh iUnnrielugmaridns itno 2th0e18L,otahne ACgormeepmaneyntpaanidd c$e1r7ta5i,n00o0thteor DgeunrkerinalLcaowrp,oLraLtCe minatetearrslyla2t0er19in. 2I0n1c9o, nthneecCtioomn pwainthy
    
    Cpaoiudn$se2l6&,00C0ortopoDrauterkSinecLreatwar,yLoLnCJ.ulyT3h0o,m2a0s19E.. Durkin, principal of Durkin Law, LLC, was appointed the Company¡¯s Executive Vice President, General
    
    OinneAxcphrailn5g,e2f0o1r92,,t5h0e0R,0i0g0htsshOarfefseroinfgCtoemrmminoanteSdt.ocAkt. thPearctliocispinagntosfinthtehRe iRghigtshtOs fOfefrfienrginogninAcpluridle9d, (2a0)1G9,atbheellCi oFmunpdasn,yLrLeCce,ivaegdregartoesrstphraonce5e%dssotofc$k2h.o5ldmeirl,li(obn)
    
    SdiarlevcattoorreanZdizfzoarmanerdeGxeecourgtieveScohffieiclee,r booftthhediCreocmtoprasnoyf. the Company, and (c) Todd Dupee, an executive officer of the Company, and (d) Alberto Shaio, a former
    
    Note 14 ¨C Business Segment Data
    
    OCopmerpatainnyg¡¯ssecghmieefnotpsearraetibnagseddecoinsiothnemCaokmerpsainny¡¯dsebciudsiinngeshsocwomtopaolnloecnatstearbeosuotuwrcheischansdepinaraastseefsisnianngcpiaelrfinofromramnacteioonf itsheavbauislainbelessa.nd are evaluated regularly by the
    
    rTehpeorCtaobmlepabnuysineevsaslusaetgems esengtsm: eDnitgpitearlfoprrmodauncctesaanleds aalnlodcaDteigsitraelsopurorcdeusctblaesaesde uapnodnmoapienrtaetninagncien.coBmoeth(ldoesssi)g. nThanedCpormodpuacney¡¯lsarogpee-rsactailoen,smaureltim-caonloarg,erdeailn-titmwoe
    
    idnigCitaalnaddisap.layTsh.eBDoitghitoapleprarotidnugcstesgamleesntsseagrmeecnotndseulclstedeqounipamgelnotbaalnbdasthise, pDriimgiatarillyprtohdrouucgt hleoapseeraatniodnms ianinthteenUanncietedseSgtmateenst. lTehaseeCs oamndpamnyaianltsaoinhsaseqoupieprmateionnt.s
    
    Corporate general and administrative items relate to costs that are not directly identifiable with a segment. There are no intersegment sales.
    
    Feqoureipigmnenret;vethneuedsomreepsrteisceonpt elreastsiotnhapnro1v0i%desotfhteheeqCuiopmmpeanntyt¡¯hsartetvheenfuoerseiignn2o0p2e0raatinodn 2le0a1s9e.s oTrhseelClso.mTphaenyf¡¯osrefiogrneiogpneorapteiorantioopnerdaoteess sniomt imlaarlnyutfoactthueredoitms eoswtinc
    
    operation and has similar profit margins. Foreign assets are immaterial.
    
    Information about the Company¡¯s operations in its two business segments for the three and six months ended June 30, 2020 and 2019 is as follows:
    
                                       Three mJuonneth3s0ended     SixmJounntehs30ended
    Inthousands                            2020       2019       2020       2019
    Revenues:
     Digital productsales                   $    1,518  $    3,113  $    2,852  $    6,204
     Digital productleaseandmaintenance                531        634       1,110      1,142
    Totalrevenues                        $    2,049  $    3,747  $    3,962  $    7,346
    Operating(loss)income:
     Digital productsales                   $     (912) $     248  $    (1,894) $     364
     Digital productleaseandmaintenance                366        415        728       673
     Corporate generalandadministrativeexpenses          (594)       (628)      (1,141)     (1,241)
    Totaloperating(loss)income                    (1,140)        35      (2,307)      (204)
    Interestexpense,net                          (155)        (80)       (263)      (335)
    (Loss)gainonforeigncurrencyremeasurement            (89)        (50)       113       (107)
    Lossondebtextinguishment                        -       (245)         -       (193)
    Pensionbenefit(expense)                        37        (19)        73        (37)
    Lossbeforeincometaxes                      (1,347)       (359)      (2,384)      (876)
    Incometaxexpense                            (6)        (6)       (12)       (12)
    Netloss                           $ June(310,3,53) $December(33615,)$    (2,396) $    (888)
                                       2020       2019
    Assets
     Digital productsales                   $    7,422  $    8,204
     Digital productleaseandmaintenance               3,113       3,515
     Total identifiableassets                      10,535      11,719
     TGoetnaelraaslsceotsrporate               $    10,728438$    12,255345
    
    
    Note 15 ¨C Subsequent Events
    
    iTnhceluCdoedmipnanthyishFasoremva1lu0a-tQedanevdefniltesdanwditthratnhseaSctEioCn.s subsequent to June 30, 2020 and through the date these Condensed Consolidated Financial Statements were
    
    DOnebJtufloyr2f,u2rt0h2e0r,dtehteaiClso.mpany and the City of Hazelwood agreed to a termination of the loan and a forgiveness of all accrued interest. See Note 7 ¨C Long-Term
    
    Item 2. Management¡¯s Discussion and Analysis of Financial Condition and Results of Operations
    
    Overview
    
    pTrroadnus-cLtsuxthiast awleeaddeisniggns,umppalnieurfaocftuLrEe,Dditsetcrhibnuotleogayndfosrerdviiscpel.ayDaepspilgincaetdiotnos.meTehtetheessdeingtiitaallesliegmnaegnetssooflutthieosnes sfyosrteamnys sairzeethveenrueea¡¯ls-tiimndeo,oprroagnrdamoumtdaoboler dniegeidtasl,
    
    tThheeseCdoimspplaanyys oapreeruasteesd ipnrtiwmoarrielypoirntaabplpelsiceagtmioennstsf:oDr itghietaflinparondciuaclt, sbaalneksianngd, gDaimgiitnagl ,prcoodrpuoctraletea,seadavnedrtmisainingt,etnraanncsep.ortation, entertainment and sports markets.
    
    sTehgemDenigtiitnalclpurdoedsutchtesafilneasnsceigaml, egnotvienrcnlmudeenst/pwroivraldtew,igdaemreinvge,nsuceosreabnodarredlsataenddeoxuptednosoersafdrovmerttihsiengsamleasrkoef tbs.otThhinedDoiogritaanldprooudtudcotolredasigeiatanldpmroadiunctetnsaignnceagsee.gmTehnist
    
    tinhcelluedaesse wanodrlmdwaiindteenreavnecneuoefsdaingditarlelpartoedduecxtpseignnsaegsefraocmrosthseallleamsaeraknedts.maintenance of both indoor and outdoor digital product signage. This segment includes
    
    Results of Operations
    
    Six Months Ended June 30, 2020 Compared to Six Months Ended June 30, 2019
    
    The following table presents our Statements of Operations data, expressed as a percentage of revenue for the six months ended June 30, 2020 and 2019:
    
                                                 SixmJounntehs30ended
    Inthousands,exceptpercentages                      2020                2019
    Revenues:
     Digital productsales                   $    2,852      72.0% $    6,204      84.5%
     Digital productleaseandmaintenance              1,110      28.0%      1,142      15.5%
       Totalrevenues                          3,962     100.0%      7,346     100.0%
    Cost ofrevenues:
     Cost ofdigitalproductsales                    3,706      93.5%      4,741      64.5%
     Cost ofdigitalproductleaseandmaintenance           325       8.2%       389      5.3%
       Totalcostofrevenues                      4,031     101.7%      5,130      69.8%
    Gross (loss)profit                           (69)      (1.7)%      2,216      30.2%
    General andadministrativeandrestructuringexpenses      (2,238)     (56.5)%      (2,420)     (33.0)%
    Operating loss                            (2,307)     (58.2)%       (204)      (2.8)%
    Interest expense,net                         (262)      (6.6)%       (335)      (4.5)%
    Gain (loss)onforeigncurrencyremeasurement           113       2.8%       (107)      (1.5)%
    Loss onextinguishmentofdebt                      -        -%       (193)      (2.6)%
    Pension benefit(expense)                        72       1.8%       (37)      (0.5)%
    Loss beforeincometaxes                      (2,384)     (60.2)%       (876)     (11.9)%
    NInectolmosestaxexpense                    $    (2,3(1926))   (6(00..35))%%$    (8(1828))   ((108.0.02))%%
    
    
    T20o1ta9l, rpervimenaureilsyfdourethtoe dsiexcrmeaosnetshisneDndigeidtaJlupnreod3u0c,t2s0a2le0s.decreased $3.4 million or 46.1% to $4.0 million from $7.3 million for the six months ended June 30,
    
    Dpriigmitaarlilpyrodduuecttosaaldeescrreeavseenuinesshdiepcmreeanstesdas$3w.4e cmoimllpiolenteodr t5h4e.0c%onsfoolridtahteiosnixofmoounrthmsanenudfaecdtuJruinnge f3a0c,il2it0ie2s0, fcoolmlopwaerdedbytodtehlaeyssixinmshoinptmhsenetnsdferdomJusnuepp3l0ie, r2s0d1u9e,
    
    to the onset of the coronavirus in Asia, followed by a brief shutdown of our manufacturing facility at the onset of the coronavirus in the United States.
    
    D20i1gi9t,alpprirmodauriclyt ldeuaseetoantdhemcaoinnttiennuaendceexrepveecnteudesredveecnreuaesdedec$li3n2e,0in00thoer o2l.d8e%r ofourtdtohoersidxismploanythesqueinpdmedenJturneent3a0l,b2a0s2e0s accoqmupiraerdedintoththeeeasirxlym1o9n9t0hss, epnadrteidalJlyunoeff3s0et,
    
    bclyimaanteinrcerseualstienginindicsopnlasyoliedqautiipomn wenitthminaitnhtaetnianndcuestarygraenedmtehnetsw. idTehreusfeinoafnfcliaatl-psaenrveilcsecsremenarskfeotrcsomnatilnleureasptpolibceatinoengsa.tively impacted by the current investment
    
    Tproitnaclipoaplelyradtiunegtloosthsefodrectrheeasseixinmroevnethnsueesndanedd aJnunienc3re0a, s2e0i2n0thineccroesatseodf r$e2v.e1numeisllaiosna tpoer$c2e.n3tamgeilloiof nrefvreonmue$s2. 04,000 for the six months ended June 30, 2019,
    
    $D3ig6i4t,a0l0p0rofodructhtesasliexsmoopnetrhastinegndiendcoJmunee(3lo0s,s2)0d1e9c,rpearismedar$il2y.3dumeiltloiotnhetodeacrleoassseoifn$r1e.v9enmuiellsi.onThfoerctohset soifxDmigointathl spreondduecdt Jsualnees 3d0e,cr2e0a2se0dc$o1m.0pamreidllitoonionrco2m1.e8%of,
    
    p1r2i9m.9a%rilyofdureelatotetdhererveednuucetisoinnin20r2e0vecnoumespaarneddthtoe 7c6o.m4%pleitnio2n0o1f9t.heTchoisnsionlcirdeaatsioenasofaopuerrmceanntaugfaecotufrrinevgefnauceilsitiisesp. riTmhaericloysdt uoef Dtoigthiteallapcrokdoufctresdaulecstiroenproefsefnixteedd
    
    amdamniunfiascttruartiivneg ecxopsetnssedsesfopriteDitghietalrpedroudcuticotnsailnesrdeevcerneuaesse,d a$s59w,0e0ll0 aosr 5t.h4e%c,opmrimplaertiiolyndoufe ttohea dceocnrseoalsideaitniobnadodfeobut rexmpeannsuefsa,cptuarritniagllyfaocfiflsiteitesb.y aGn einncerreaalseanidn
    
    marketing expenses.
    
    JDuingeita3l0p, r2o0d1u9c,t pleriamsearainlyd amsaainrteesnualnt coef oapdeercartienagseinincotmhee cinocstreoafseDdig$i5ta5l,0p0r0odourc8t .l2e%asefoarntdhemsaiixntmenoannthces eannddead dJeucnreea3s0e, i2n02g0enceormalpaanrdedadtomtihneisstirxatmivoenetxhpseennsdeesd.
    
    TprhoeduccotstleoafseDaignidtaml pairnotdeuncatncleeasreevaennduems arienptreensaenncteedd2e9cr.3e%aseodf $r6el4a,t0e0d0reovre1n6u.e5s%i,np2r0im20arciloymdpuaeretdo tao d3e4c.1re%aseinin20d1e9p.reTcihaetiocnoset xopfeDnsieg.itaTl hperocdousctt olefaDseigaintadl
    
    amnadinmteaninantecneanincceluddeecsrefaiseeldd s$e2r3v,i0c0e0eoxrp2en8s.8e%s, ,pplarinmt areriplyaidr uceostots,amreadiunctetinoanncine eamndpldoeypereesc¡¯iaetxipoenn. seGs.eneral and administrative expenses for Digital product lease
    
    C20o1r9p,oprartiemgaerinleyrdalueantdo aadrmediuncisttiroantiivneeemxppelonyseees,dreecnrte,alseegdal$a1n0d0,d0i0re0cotorr8s¡¯.1e%xpfeonrsethse, psaixrtimalolyntohfsfseentdbeyd aJnuninec3r0ea, s2e0i2n0wcoarmrapnatreedxptoentshee. six months ended June 30,
    
    dNeectreinatseersesint einxtpeernesset rdaetecsreaansdedth$e7a3v,0e0ra0goero2u1ts.8ta%ndfionrgtlhoengsi-xtemrmondtehbst,epnrdiemdaJriulnyed3u0e,to20t2h0e dcoecmrepaasreedintothtehebasliaxnmceoonwthesdeunnddeedrJruenveol3v0in, g20c1re9d, ipt rliomanarsilayndduteermto
    
    loans, partially offset by the increase in the balance owed under the PPP loan.
    
    fTehees lroeslasteodnteoxftoinrgmueirshlomaennstforofmdeCbNt fHoratnhdeSsMix mInovnetshtosres.nded June 30, 2019 represented the write-off of the remaining debt discount costs and the termination
    
    bTyhetheeffveacltuivaetiotanxarllaotewfaonrcethoensitxhemCoonmthpsaennyd¡¯seddeJfuenrree3d0t,ax20a2s0seatsndas2a01re9suwlat sof0r.5e%poratnindg1p.4re%-t,arxeslopsescetsiv. ely. Both the 2020 and 2019 tax rates are being affected
    
    Three Months Ended June 30, 2020 Compared to Three Months Ended June 30, 2019
    
    The following table presents our Statements of Operations data, expressed as a percentage of revenue for the three months ended June 30, 2020 and 2019:
    
                                                ThreemJuonneth3s0ended
    Inthousands,exceptpercentages                      2020                2019
    Revenues:
     Digital productsales                   $    1,518      74.1% $    3,113      83.1%
     Digital productleaseandmaintenance               531      25.9%       634      16.9%
       Totalrevenues                          2,049     100.0%      3,747     100.0%
    Cost ofrevenues:
     Cost ofdigitalproductsales                    2,003      97.7%      2,219      59.2%
     Cost ofdigitalproductleaseandmaintenance           139       6.8%       180      4.8%
       Totalcostofrevenues                      2,142     104.5%      2,399      64.0%
    Gross (loss)profit                           (93)      (4.5)%      1,348      36.0%
    General andadministrativeandrestructuringexpenses      (1,047)     (51.1)%      (1,313)     (35.1)%
    Operating (loss)income                      (1,140)     (55.6)%        35      0.9%
    Interest expense,net                         (155)      (7.6)%       (80)      (2.1)%
    Loss onforeigncurrencyremeasurement              (89)      (4.3)%       (50)      (1.3)%
    Loss onextinguishmentofdebt                     -        -%       (245)      (6.6)%
    Pension benefit(expense)                        37       1.8%       (19)      (0.5)%
    Loss beforeincometaxes                      (1,347)     (65.7)%       (359)      (9.6)%
    INnectolmosestaxexpense                    $    (1,35(63))   (6(06..30))%%$    (36(65))    ((09..17))%%
    
    
    T20o1ta9l,rperviemnaureilsyfodruethteotahrdeeecrmeaosnethisneDnidgeidtalJupnroed3u0c,t2s0a2le0s.decreased $1.7 million or 45.3% to $2.0 million from $3.7 million for the three months ended June 30,
    
    pDriigmitaarlilpyrodduuecttosaaldeescrreevaesenuinesthdeecsrpeoarstesdm$a1r.k6etm, pilrliinocnipoarll5y1d.2u%e tfoocrotrhoentahvriereusmcoonntchesrnesn.ded June 30, 2020 compared to the three months ended June 30, 2019,
    
    DJuingeita3l0,p2ro0d1u9c,tplreiamsaerialnyddmueaitnottehneanccoentrienvueendueexspdeeccteredarseevden$u1e03d,e0c0l0inoerin16th.2e%oldfoerr tohuetdthoroeredmispolnatyhseqeunidpemdeJnutnreen3t0a,l 2b0as2e0scaocmqupiarereddintoththeeeathrlryee19m9o0nst,hpsaretniadlelyd
    
    ionfvfseesttmbeyntancliimncarteearseesuilntindgisipnlacyonesqouliidpamtieonnt wmitahinintetnhaant cinedaugsrtreyemanednttsh.e wTihdeerfuinsaenocfiafllast-eprvaniceelsscmreaernksetfocrosnmtianluleers atpoplbiceatnieognast.ively impacted by the current
    
    TmootnalthospeenradteidngJuinnceo3m0,e2(0lo1s9s,)pfroinr cthipealtlhyredeuemtoontthhes deencdreedasJeunine r3e0v,en2u0e2s0adnedcraenasinecdre$a1s.e2 imn itlhlieocnotsot oafloresvseonfu$es1.a1s ma iplelirocnenftraogme oinfcroemveenoufes$.35,000 for the three
    
    $D2ig4i8t,a0l0p0rofdour ctthesaltehsreoepmeroatnitnhgs ienncdoemdeJ(ulnoess)30d,ec2r0e1a9se, dpr$i1m.2armilyilldioune ttoo athleosdseocrfe$a9se12i,n00r0evfeonrutehseatnhdreeanmionnctrhesaseendinedthJeunceos3t0o, f20re2v0ecnoume paasreadpteorciennctoamgee ooff
    
    rceovnesnouliedsa.tioTnhoef coousrtmoafnDufiagcittualrinpgrofdaucciltitiseasl.esTdheecrceoassteodf $D2i1g6it,a0l0p0roodruc9t.7s%ale, sprreimpraersielynteddue13t1o.9t%heodfercerleaatesde rienvernevueensuiens,20o2f0fsectombypatrheed tcoom71p.l3e%tioinn o2f01t9h.e
    
    Tcohmispilnectiroenasoefatshae pceorncseonltiadgaetioonf roefvoenuur ems aisnupfraimctuarriilnygdfuaecitloititehse. laGceknoefrarledanudctiaodnmoifnifsitxreadtivmeaenxupfaecntsuersinfgorcoDsitgsitdaelsppriotedtuhcet rseadleusctdioecnreinasreedve$n2u1e9s,,0a0s0woerll3a3s.9t%he,
    
    primarily due to decreases in bad debt expenses and employees¡¯ expenses, partially offset by an increase in marketing expenses.
    
    DenidgeitdalJpurnoedu3c0t, l2e0a1se9,anpdrimmaariinlytenaasnacereospueltraotifnag dineccoremaesedeincrtehaesecdos$t49o,f0D00igoitra1l 1p.r8o%dufcotrltehaesetharneed mmoaninthtesneanndceedaJnudnea 3d0e,cr2e0a2s0e cinomgepnaereradltoantdheadthmreineismtroantitvhes
    
    edxecpreenassees,inpadretiparlelyciaotfifosnetebxypetnhsee.deTcrheeasceosint orfevDeniguietasl. pTrohdeuccot slteaosfeDanigditamlapinrotednuacntcleearseeveannudesmraeipnrteesneanntceed d2e6c.r2e%aseodf r$e4l1at,0ed00reovren2u2e.8s%in, p2r0i2m0arciolymdpuareedtotoa
    
    a2n8d.4a%dminin2i0st1r9at.ivTeheexpceonstseosffDorigDitiaglitparlopdruocdtulcetalseeasaendanmdaminatienntaenncaenciencdleucdreesasfeiedld$1s3er,0v0ic0eoerx3p3e.n3s%es,,pprliamnatrrielypadiurectoostas,remdauicnttieonnainnceemanpdlodyeepesre¡¯ceixaptieonns.esG. eneral
    
    3C0o,rp20or1a9t,epgreimnearraillyanddueatdomainreisdturacttiivoeneixnpeemnspelosydeeec,rreeanste,dle$g3a4l,a0n0d0 doirre5c.4to%rs¡¯foerxptheensthesre, epamrtoianltlhysoefnfsdeetdbJyuanne i3n0c,re2a0s2e0incowmaprraarnetdetxoptehneseth. ree months ended June
    
    iNnectreinasteereinsttehxepaevnesreaginecoreuatssetadn$d7in5g,0l0o0ngo-rte9r3m.8d%ebfot,rptrhiemtahrrielye mduoenttohsaennidnecdreJausneein30t,h2e0b2a0lacnocme poawreedd tuontdheertrherveoelmvionngthcrseednitdleodaJnusnaen3d0t,e2rm01l9o,apnrsiminacrliulydidnugetahne
    
    PPP loan, partially offset by decreases in interest rates.
    
    fTehees lroeslasteodn teoxftionrgmueisrhlmoaennstforof mdeCbtNfHor athned tShMreeInmvoesnttohrss.ended June 30, 2019 represented the write-off of the remaining debt discount costs and the termination
    
    TbyhetheeffveacltuivaetiotanxarlalotewfaonrcteheonthtrheeeCmoomnpthasnyen¡¯sddeedfJeurrneed3t0ax, 2a0s2se0tsanads a20re1s9uwlt aosf 0re.4p%ortainngd p1r.7e-%ta,xrelospsseecsti.vely. Both the 2020 and 2019 tax rates are being affected
    
    Liquidity and Capital Resources
    
    Current Liquidity
    
    mThileliConominpathney hsiaxs imncounrtrhesdesnigdnedifiJcuannet r3e0cu, r2r0in2g0loanssdeshaadndacwonotrikniunegs tcoaphiatavle daesfiigcnieinficcyanotfw$o5r.k1inmgicllaiopnitaalsdeofficJiuennecy3.0T, h2e02C0o.mApasnyofinDceucrreemdbaerne3t1l,os2s01o9f ,$2th.4e
    
    lCoonmg-ptearnmy hdaedbta, cwuostrokminegrcdaeppitoaslitdseafincdieancccyouonf t$s3p.1aymabillleio, nas. wTehlel ianscdreeacsreeaisnesthienwacocrokuinngtscraepcietaivl adbelfeicainendcpyreispapirdims aanridlyodthueer taossinectsr,epasaertsiainllythoeffcsuertrebnytapodretciorenasoef
    
    in accrued liabilities.
    
    $O6n5J0u,0ly002,w2a0s2r0e,ptahiedCfroommpaRneystarnicdtetdheCCasithyoonf Hthaaztedlawteooadndagtrheeedfotrogiavatebrlme ilnoaatniownaosfstahteislfoieadn ianndfuallf.orTghiveeRneesstsriocfteadllCacacshruiesdininctleurdeesdt. inThneonp-rcinucrirpeanlt baaslsaentsceanodf
    
    tohfe$l1o3a7n,0is00inicnluJduelyd winilllornegsu-tletrimn aliarebdiluitciteiso,nsiontihnetreereisstneoxpimenpsaecatnodnathreedwuoctrikoinnginctahpeitwalodrkefinicgiecnacpyitraelldaetefdiciteontchyeaptrtihnactiptaiml ree.payment. The interest forgiveness
    
    oTpheeraCtionmg ppaenryfoirsmdaenpceenidsendtepoenndfeuntutroenopgeernaetrianlgepceornfoomrmicanccoendinitioorndse,ratsowgeelnlearastefinsaunffciicaile,nctocmasphetiftliovwesanind oortdheerr tfoacctoornstinbueyeotnodruonuritcsonbtursoiln,eisnscelsu.dinFgututhree
    
    timravpealctreosftrthiceticounrsr,einntteecrrounpotmioincsetnovsiuropnpmlyecnht,atihnes sapnrdeaedxtoefnmdeadjosrheuptiddoewmnicsof(ibnucsluindeinssgesc.orIonnaovrdireurs)toanmdooretheefrferecltaivteedlyumncaenratagientiitesscsauschhraessoguorvceersn,mtheenCt iommppoasneyd
    
    hdealda,yferdomcetritmaien tdoetliimveer,ieinsctoreoasuerdcuthsetotmimeersta. ble of its payment of some of its payables, which delayed certain product deliveries from our vendors, which in turn
    
    nTehxetre12ismsuobnstthasnftriaolmdothuebtdaastetoofwishseuthanercewoefwthililshFaovrema1d0eq-Qua. teAlisqtuoicdkihtyo,ldinecrloufditnhge aCcocmespsatnoythheasdceobmt amnditteeqdutiotypcroapviitdailnmg aardkdeittsio, ntoalocpaepriattael ouuprtbou$s2in.0esms iollvieorn,thtoe
    
    trheqeueirxetmenetntnseacnedssfaurnydtpootfeunntdialonpeewratoiopnpso.rtuTnihteiesC. ompany continually evaluates the need and availability of long-term capital in order to meet its cash
    
    CThoempCaonmyphaansyimuspeldemceanshtedofse$v1e.r5alminililtiioatnivaensdto$i3m.8prmovilelioonpefrraotimonoapl ererasutilntsg aancdtivcaitsihesflfoowr sthoevesrixfumtuorentphesrieonddse,dinJculundein3g0,re2d0u2c0inagnhdea2d01c9o,unret,spreeocrtigvaenliyz.ingTihtes
    
    Csaolemspdaenpyaprtemrieondticaanldlyotuaktseosusrtceipnsgtcoerretadiunceadthmeinciossttratotivmeafiunntacitniotnhse. diTghitealCpormodpuacntys ocnonletiansueeasntdomexaipnltoerneawncaeysagtroeermedeunctes.operational and overhead costs. The
    
    CDaesche,mcbaesrh3e1q, u2i0v1a9le.nTtshaenidncrreesatsreicitsedprcimasahridlyecartetraisbeudta$b4le87to,0c0a0shinusthede isnixopmeoranttihnsg eancdtievditiJeusnoef 3$01,.52m02il0lioton $an8d98i,n0v0e0stmateJnutsnein3e0q,u2ip0m20enftrofomr r$e1n.t4alm, pilrloiopnertayt
    
    Canodmepqauniyp¡¯ms ternatdeofre$ce1i9v4a,b0l0e0s,cpoallretciatilolyn ocyffcsleet, abnydbitosrraollwoiwnagnscoesnftohreunrecvoolllevcitnigbleloaacncooufn$ts1r.2ecemivilalibolne,. buTthceolcleucrrtieonntseccoonntoinmuiectoenbveirfoanvmoreanbtleh. as increased the
    
    aUnnddelornvga-rtieorums dagebreteamgerenetsm, etnhtes,Cpoemnspiaonnypilsanobmliignaitmedumto rmeqaukierefdutcuorentcriabsuhtipoanysm, eemntpsloinymfiexnetdaagmreoeumnetsn.t pTahyemseenintsclaundde rpeanytmpeanytms eunntdserreqthueirCedomunpdaenry¡¯ospceurartrienngt
    
    2le0a2s0e uangtrieletmheenutnsd. eTrlhyeinCg odmebptasnmyahtuasreb. oth variable and fixed interest rate debt. Interest payments are projected based on actual interest payments incurred in
    
    The following table summarizes the Company¡¯s fixed cash obligations as of June 30, 2020 for the remainder of 2020 and over the next four fiscal years:
    
    Inthousands                Remainde2r0o2f0  2021       2022       2023       2024
    Long-term debt,includinginterest   $     3,041 $      547 $     183 $       - $       -
    Pension planpayments                 -        973       490       324       212
    Employment agreementobligations         38         -         -         -         -
    Estimated warrantyliability             90        142       107        63        37
    Contract manufacturingagreement          63         -         -         -         -
    TOoptearlatingleasepayments        $     3,425264$     2,033720$    1,132488$     360996$     249-
    
    
    $A2s2o0f,0J0u0noef3D0,eb2e0n2t0u,retshewChiocmh pmaantyursetdillonhaDdeocuemtstbaenrd1in,g20$1325.2,T00h0e CofomNpoatensywcohnictihnumeasttuorecdonassidoefrMfuaturcrhe e1x,c2h0a1n2g.esTohfethCeoNmoptaensyanadlsDo esbtielnl thuareds,obuutsttahnadsinngo
    
    agreements, commitments or understandings with respect to any further such exchanges.
    
    wThoerkCinogmcpaapniytalm. aHy oswtilelvseere,kthaedrdeitciaonnablefinnoanacsisnugrainncoerdaesrtotothperoavmidoeuenntso,uigfhacnays,hthteo Ccoovmepr aonuyr wreimllariencineigvecuirnreanntyfisxuecdhcfaisnhanocbinliggaotirotnhseatserwmesllthaserperoofv. idTinhge
    
    Cseocmurpitainesy, ihtacsounlod abgerdeeilmuteivnetst,oceoxmismtinitgmsehnatsrehoor lduenrdse.rstandings with respect to any such financings. To the extent the Company issues additional equity
    
    For a further description of the Company¡¯s long-term debt, see Note 7 to the Condensed Consolidated Financial Statements ¨C Long-Term Debt.
    
    Pension Plan Contributions
    
    2T0h2e0m. inAismaulmlowreeqduibryedthpeenCsAioRnEpSlaAn ccto,ntthreibCutoiomnpfaonry2h0a2s0eilsecetxepdetcoteddetfoerbtehe$6p4a1y,m00e0n,t ooffwthheic$h5t5h6e,0C0o0mopfarneymhaainsinalgremadinyimcounmtrirbeuqtuedire$d85c,o0n0t0ribaustoiofnJsudnuee30in,
    
    2020 until January 1, 2021. See Note 8 to the Condensed Consolidated Financial Statements ¨C Pension Plan for further details.
    
    Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995
    
    rTehaelizCeodmbpyatnhyemCaoym, pfraonmy. tiTmheetCootimmpea,npyrouvniddeerteasktiems antoesdaustytotofuutpudreatpeesrufochrmfoarnwcea.rdT-lhoeoskeinfogrswtaatredm-leonotksi.ngMsatnatyemfaecntotsrswciollubldeceasutismeaatcetsuaanl dremsualtysotor mdiaffyernofrtobme
    
    tchoemsepeftoirtiwoanrodr-lpouorkcihnagsestrastoemf tehnetsC, oinmcpluadniyn¡¯gs plorossduocftsm, ianrtkeertessthraartee tahnrdoufgohrecigonmepxecthitaionng,eifnlturcotduuactitoionns,otef rcroomrispteatcintsgapnrdodwuacrt.s by others, pressure on prices from
    
    Item 3. Quantitative and Qualitative Disclosures about Market Risk
    
    fTihxeedCionmtepreasntyraitsesduebbjet.ctTthoeinfateirrevsatluraeteofritshkeoCnoimtsplaonnyg¡¯s-tefirxmeddreabtte. loTnhge-tCerommpdaenbyt ims danisacgloesseidtsinexNpoosteur7ettootchheaCngoensdeinnsiendteCreosntsroaltiedsatbeyd tFhienaunsceiaolfSvtaartieambleentasn¨Cd
    
    Ladodnigti-oTne,rmtheDCeobmt. paEnvyeriys e1x-ppoesrceednttoagfeo-rpeoiginntccuhrarenngceyienxicnhtaenregset rraatteesriswkomuladinrleysualst ainreasnulat nonfuiatsl iinnvteersetsmt eenxtpiennistes Cfluanctaudaitainonsuobfsiadpiaprryo.xAim1a0te%lyc$h1a0n,g0e00in. thIne
    
    CcoannsaiddiearnindgoclluarrrernetlaetixvcehatongteheraUte.sS.. dTohlelaCr owmopualdnyredsoueltsinnoat ecnutrerreninctyordeemrievaastuivreems efonrt terxapdeinngseofrluspcetucautliaotnivoefpauprpproosxeismaantdeldyid$2n5o5t,0h0o0ld, banasyeddeorinvadteivaleerfinqaunocteiasl,
    
    instruments at June 30, 2020.
    
    Item 4. Controls and Procedures
    
    bEyvatlhuiastrioepnoorft,DwisechloasvuerecaCrorinetdroolus taannd ePvraolcueadtiuorne,s.unAdserretqhueirseudpebryviRsiuolne 1an3da-1w5ituhntdheerpthaertiSceipcautriiotinesoEf xocuhramngaenaAgcetmoefn1t,9i3n4c,luasdionfgthoeurenCdhioefftEhexepceuritoivdecOovffeirceedr
    
    d(oisucrlopsruinrecicpoanl terxoelscuatnidveprooffciecdeur)reasn. dOouurrCChhiieeffEAxceccouutinvteinOgffOicffeircearnd(oCuhr ipefriAnccicpoaul natcincoguOntfifnicgerofhfaicveer)c,oonfcltuhdeeedfftehcattivoeunredsisscolfosthueredceosnigtrnolasnadndopperroactieodnuroefs oaurer
    
    esuffmecmtiavreizteod eannsdurreeptohratet dinwfoitrhminattihoen triemqeuipreerdiotdos bsepedciisfcielodsiendthbey ruusleisnanthdeforerpmosrtosftthhaet SwEeCfialnedotrhastubsumciht iunnfdoermr athtieonExischacacnugme uAlacttedisarnedcocrodmedm, upnrioccaetesdsetdo,
    
    osuucrhmeavnaalugaetmioenn,to(uinrcCluhdieinfgEoxuecruCtihvieefOEffxiecceurtaivned OCfhfiiecferAacncdouonutrinCghOiefffiAcecrcohuavnetincgonOclfufidceedr)thtoatatlhloewsetdimisecllyosduerceiscioonntsrorlesgaarredienfgfercetiqvueiraesdodfisJculnoesu3r0e,s2. 0B19as.ed on
    
    tChheaqnugaersteirneInndteedrnJaulnCeo3n0t,ro2l01o9vetrhaFtihnaasncmiaalteRrieaplloyrtaifnfge.cteTdh,eorre ihsarseabseoennabnloyclihkaenlgyetoinmtahteerCiaolmlypaafnfeyc¡¯st, itnhteerCnoaml cpoanntyro¡¯sl ionvteerrnfailnacnocnitarol lreopvoerrtifninganthcaiat lorcecpuorrrteidngi.n
    
    Item 1. Legal Proceedings Part II ¨C Other Information
    
    TChoempCaonmyphaansy aicscsruubedjecrtesteorvleegsailnpdrivoicdeueadlilnygsanadndincltahiemasgwgrheigcahtearfiosre sinucthheleogradlinparroyceceoduinrsges.ofSihtsoubludsiancetsusalanlidti/goartiwohnicrhesuarltes cdoivffeerredfrobmy itnhseurCanocme.panTyh¡¯es
    
    estimates, revisions to increase or decrease the accrued reserves may be required. There are no open matters that the Company deems material.
    
    Item 1A. Risk Factors
    
    eTfhfeecCt oomn pthaenybuissisnuebsjse,cftintoanacinaulmcobnedr iotifornisokrs riensculultdsinogf ogpeenreartailonbsusoifnetshse aCnodmfipnaannyc.ialYroiuskshfaocutlodrsc.arAefnuyllyorcaolnlsoidfesructhhefraicstkorfsacctoourlsdidheanvteifaiemd ainteroiualr aAdnvneursael
    
    Report on Form 10-K for the year ended December 31, 2019.
    
    wThitehCthoemfpoallnoywiisngsuripspklefmacetonrti:ng the risk factors previously disclosed in the Company¡¯s Annual Report on Form 10-K for the year ended December 31, 2019
    
    Our results of operations may be negatively impacted by the coronavirus outbreak.
    
    WOregaanriezactlioosnelcyhamraocnteitroizriendg CthOeViImDp-1ac9t aosfathpean2d0e1m9icnoavnedl tchoeroPnreasviidreuns,t oofr tChOe VUInDit-e1d9,Stoantesaldl eacslpaerecdts thoef CouOrVbIuDs-in1e9sso.utbIrneaMkaarcnhat2io0n2a0l, etmheerWgeonrcldy. HSeianlcthe
    
    tohuetnb,rethake CofOCVOIDV-I1D9-1p9anhdaesmciacusheads aranpdidmlyayspcroenatdinaucerotossctahuesegltorbaveealnbdanhsasoarldreisarduyptrieosnusl,teadndininsigsonmifiecacnatsevso,lpatriolihtiyb,iutinocnesrtoafinntoyna-ensdseenctoinalomacitcivditiisersu,pdtiiosnru.pTtiohne
    
    canodntisnhuuetdtoowcnauosfebvuasriinoeusssensegaantdivgereeaffteerctus,ncinecrtlauidnitnyginangilnoabbailliftiynatnocmiael emt awrkitehtsa.ctTuahleoirmppoatcetnotifalCcOuVstoIDm-e1r9s,isoufrlueidndancudsutonmceerrtsaidne,cbiduitnigt htoasdcealauyseodr aanbdanmdoayn
    
    sthaeleirs pclyacnlnees,dopuurrcahbailsietys toor cfaloilsiengtrtaonsmacatkieonpsaywmitehnntse,wanadnddeelxaiysstionrgdciussrutopmtioernssainndouprarotnreorusrmpaayrtnbeersn¡¯esguaptipvleylychimainpsa.cteAds, aanrdestuhlet, ewffeicmieanycyexapnedrieefnfceecteoxftetnhdoesde
    
    aocpteivraittiinesg, rmesauyltbs.e Tnehgeasteivuenlcyeartfafeincttieeds,haanvde,itahnadsmbaeyencoanntdin, uuenttiol ,thpeutCpOreVssIuDr-e1o9nogultobbreaal keciosncoomntiacinceodn,dwitiiollnscoanntdinouveetroalbl eLEmDordeisdpiflafiycuslptefnodrinugs atondfomreacyasctaouuser
    
    oouurr esonldutciuosntso,maenrds mtoamy omdaifkye sipt ednifdfiincgulpt rfioorriutisestoorfodreelcaaystooruarbasanldeosnapnudrochpaesraintigngderceissuioltnssa, nthdetroebmyalkeengdtehceinsiinognssaalbeosuctyfculteusreanidnvpeosttemnetinatlsl,yalnoyweorfinwghpicrhicecsoufoldr
    
    materially harm our business, operating results and financial condition.
    
    iFnuvrethstemr,eonutromf tahneairgetimmeenat ntedarmesoisurfcoecsusaendd omnaaydddirsetsrasicntgouthremiamnpaagcetms eonftCteOaVmIDor-1d9isrounptoouur rb2u0si2n0esosp,ewrahtiinchg hpalasnrse.qTuihreedexatnedntwtoillwchoincthinCuOe VtoIDre-q1u9iruel,tiamlaatreglye
    
    ibmutpancottsloimuritreedsutolt,sthoef odpueraratitoionnasn, dcassphrefalodwofanthdefoinuatnbcreiaalkp, oitssitsieovnewritiyll, dtheepeancdtioonnsftuatkuerne dbeyvgeolovpemrnemntesn,tws ahnicdhaaurtehournictieerstationcaonndtacianntnhoetvbierupsreodritcrteeadt, iitnscilmudpiancgt,,
    
    canondtihnouwe tqoueicxkpleyriaenndcetomawtehraitalelyxteandtvenrosermimalpeaccotsnotomoicuranbdusoinpeesrsatainsga croensudlittioonf sitscagnlorbeaslumeceo.noEmviecnimafptearctt,hiencCluOdVinIgD-a1s9apraensudletmoifcahnays rseucbessisdioend,thwaet mmaayy
    
    occur.
    
    Item 2. Unregistered Sales of Equity Securities and Use of Proceeds
    
    None.
    
    Item 3. Defaults upon Senior Securities
    
    lAosngdeisrccloonsevderitnibNleoitnet7o tcoomthme oCnonshdaernesse.dTChoenNsoolitdesatmedatFuirneadnacsiaolfSMtataermchen1t,s2¨C01L2onangd-TaerremcDurerbent,tltyheinCdoemfapualnt.y AhasdoofuJtusntaen3d0in, g20$23052a,n0d00DoecfeNmobteesr 3w1h,i2ch01a9r,etnhoe
    
    CCoonmspoalindyatehdadBaalcacnrcueedSh$e3e1ts5.,000 and $300,000, respectively, of interest related to the Notes, which is included in accrued liabilities in the Condensed
    
    ADesbdeinsctuloressedmiantuNreodteas7otof DtheeceCmobnedren1s, e2d01C2oannsodliadraetceudrFreinntalnyciinaldSeftaatuelmt. eAntss o¨Cf LJuonneg3-0T,er2m02D0 eabntd, tDheecCemombepra3n1y,h2a0s1o9u, ttshteanCdoinmgpa$n2y20h,a0d00acocfruDeedb$e2n2tu1r,e0s0.0 Tanhde
    
    $by21n1o,0ti0c0e,troesthpeecCtiovmelpy,anoyf,inotretrheesthroelldateerds otof t2h5e%Doebf ethnetuprerisn,cwiphaicl hamisoiunnctluodfetdheinDaecbcerunetudrelisaboiulittsiteasndinintgh,ebCyonnodteincesetdo CthoenCsoolmidpataendyBaanldanthcee Strhuesetetse., mThaye tdreucsltaeree,
    
    the outstanding principal plus interest due and payable immediately.
    
    Item 4. Mine Safety Disclosures
    
    Not applicable.
    
    Item 5. Other Information
    
    None.
    
    Item 6. Exhibits
    
    10.1 Loan Note with Enterprise Bank and Trust dated as of April 20, 2020 (incorporated by reference to Exhibit 10.1 of Form 8-K filed May 4, 2020).
    
    10.2 oMfoFdoirfmica8t-ioKnfAilegdreJeumneen9t,t2o0t2h0e).Loan Agreement with MidCap Business Credit LLC dated as of June 3, 2020 (incorporated by reference to Exhibit 10.1
    
    10.3 ECxohnibtritac1t0.M1 aonfuFfoarcmtur8in-Kg fAilgerdeeJmuleyn2t,w20it2h0C).raftsmen Industries Inc. dated June 4, 2020 and commenced June 15, 2020 (incorporated by reference to
    
    10.4 fWileadrrAanutgiusssut e1d7,to20U2n0i)l.umin USA, LLC dated June 4, 2020 (incorporated by reference to Exhibit 10.4 of Form 10-Q filed August 14, 2020, but deemed
    
    31.1 SCaerrbtiafniceast-iOonxloefyNAiccthoofla2s0J0.2F,afzilieod, IhnetreerwimithC.hief Executive Officer, pursuant to Rule 13a-14(a) and 15d-14(a), as adopted pursuant to Section 302 of the
    
    31.2 SCecetritoifnic3a0ti2onofotfheToSdadrbDanuepse-eO,xSleeyniAorctVoicfe20P0r2es, ifdileendt haenrdewCihthie.f Accounting Officer, pursuant to Rule 13a-14(a) and 15d-14(a), as adopted pursuant to
    
    32.1 SCarebratinfeicsa-OtioxnleyofANcticohfo2la0s02J,. fFilaezdioh,eIrnetweritihm. Chief Executive Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the
    
    32.2 9C0e6rtoifficthaetioSnarobfanTeosd-dODxluepyeAe,cSt eonf i2o0r0V2i,cfeilPedrehseidreewntitahn.d Chief Accounting Officer, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section
    
    SIGNATURES
    
    tPhuerrseuuannttotdoutlhyearuetqhuoirriezmede.nts of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned,
    
    TRANS-LU(XReCgOistRraPnOt)RATION
    
    by N/s/ichNoilcahsoJla. sFJa.ziFoazio
    
    Interim Chief Executive Officer
    
    by T/so/ddToDdudpDeeupee
    
    SCehnieiofrAVciccoeuPnrteinsgidOenftfiacnedr
    
    Date: August 18, 2020

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