| Summary of Significant Accounting Policies | 3. Summary of Significant Accounting
Policies Revenue Recognition The Company recognizes
revenue when all of the following circumstances are satisfied:
● Persuasive evidence of an arrangement exists;
● Delivery has occurred or services have been rendered;
● The seller’s price to the buyer is fixed or determinable; and
● Collectability is reasonably assured. Within the Digital
Media segment, if an arrangement involves multiple deliverables, the items are analyzed to determine the separate units of accounting,
whether the items have value on a stand-alone basis and whether there is objective and reliable evidence of their fair values.
Within the Digital Media segment, sales are derived from highly customized design integration, and installation of digital media
technology solutions for a broad range of applications. The deliverables and timing depend upon the customer’s needs. Because
the sales are so highly customized, separate sales are too infrequent to establish vendor specific objective evidence (VSOE). As
a result, the Company uses third party evidence for products and best estimate of selling prices for other contract features. For
services performed in the Digital Media segment, revenue is recognized when the products have been installed and services have
been rendered. Revenues from maintenance support or managed services contracts are deferred and recognized as earned ratably over
the service coverage periods. Unbilled revenue represents revenue recognized in accordance with the Company’s revenue recognition
policy for which the invoice had not been processed and sent to the customer. Within the Cinema
segment, revenue is generally recognized upon shipment of the product; however, there are certain instances where revenue is deferred
and recognized upon delivery or customer acceptance of the product as the Company legally retains the risk of loss on these transactions
until such time. Costs related to
revenues are recognized in the same period in which the specific revenues are recorded. Shipping and handling fees billed to customers
are reported in revenue. Shipping and handling costs incurred by the Company are included in cost of sales. Estimates used in the
recognition of revenues and cost of revenues include, but are not limited to, estimates for product warranties, price allowances
and product returns. Cash and Cash Equivalents All short-term,
highly liquid financial instruments are classified as cash equivalents in the consolidated balance sheets and statements of cash
flows. Generally, these instruments have maturities of three months or less from date of purchase. As of December 31, 2016, $6.1
million of the $7.6 million in cash and cash equivalents was held by our foreign subsidiaries. Marketable Securities The Company’s
marketable securities were comprised of its investment in the common stock of a publicly traded company, 1347 Property Insurance
Holdings, Ltd. (“PIH”), prior to additional investments and representation on the board of directors in 2016, resulting
in the Company changing to the equity method of accounting (see Note 10). Changes in fair value, based on the market price of the
investee’s stock, were recognized in other income in the consolidated statement of operations. The Company elected the fair
value option to account for the investment to more appropriately recognize the value of this investment in the consolidated financial
statements. The Company had no marketable securities as of December 31, 2016 and gross unrealized losses were insignificant. Marketable
securities at fair value were as follows:
December 31, 2015
Cost Gross Unrealized Gains Gross Unrealized Losses Book Value
(in thousands)
Marketable Securities $ 1,983 $ 118 $ — $ 2,101
Equity Method Investments We apply the equity
method of accounting to investments when we have significant influence, but not controlling interest in the investee. Judgment
regarding the level of influence over each equity method investment includes considering key factors such as ownership interest,
representation on the board of directors, participation in policy-making decisions and material intercompany transactions. The
Company’s proportionate share of the net income (loss) resulting from these investments are reported under the line item
captioned equity method investment income in our Consolidated Statements of Operations. The carrying value of our equity method
investments is reported in equity method investments in the Consolidated Balance Sheets. The Company’s equity method investments
are reported at cost and adjusted each period for the Company’s share of the investee’s income or loss and dividend
paid, if any. The Company’s share of the investee’s income or loss is recorded on a one quarter lag for all equity
method investments. The Company classifies distributions received from equity-method investments using the cumulative earnings
approach on the Consolidated Statements of Cash Flows. The Company assesses investments for impairment whenever events or changes
in circumstances indicate that the carrying value of an investment may not be recoverable. The Company did not record any impairments
related to its investments in 2016, 2015 or 2014. Note 10 contains additional information on our equity method investments, which
are held by our Cinema segment. Accounts, Financing and Notes
Receivable Trade accounts receivable
are recorded at the invoiced amount and do not bear interest. The Company determines the allowance for doubtful accounts based
on several factors, including overall customer credit quality, historical write-off experience and a specific analysis that projects
the ultimate collectability of the account. As such, these factors may change over time causing the reserve level and bad debt
expense to adjust accordingly. Notes receivable are recorded at estimated fair value at December 31, 2016 and accrue interest at
15%. The Company estimates allowances for doubtful accounts based on the Company’s best estimates of the amount of probable
credit losses pertaining to the trade accounts receivables, based on ongoing monitoring of the counterparty’s financial position
and results of operations. Past due accounts
are written off for accounts, financing and notes receivable when our efforts have been unsuccessful in collecting amounts due. Inventories Inventories are
stated at the lower of cost (first-in, first-out) or market and include appropriate elements of material, labor and manufacturing
overhead. Inventory balances are net of reserves of slow moving or obsolete inventory based on management’s review of inventories
on hand compared to estimated future usage and sales, technological changes and product pricing. Business Combinations The Company uses
the acquisition method in accounting for acquired businesses. Under the acquisition method, the financial statements reflect the
operations of an acquired business starting from the completion of the acquisition. The assets acquired and liabilities assumed
are recorded at their respective estimated fair values at the date of the acquisition. Any excess of the purchase price over the
estimated fair values of the identifiable net assets acquired is recorded as goodwill. Significant judgment is often required in
estimating the fair value of assets acquired, particularly intangible assets. As a result, in the case of significant acquisitions
the Company normally obtains the assistance of third-party valuation specialists in estimating fair values of tangible and intangible
assets. The fair value estimates are based on available historical information and on expectations and assumptions about the future,
considering the perspective of marketplace participants. While management believes those expectations and assumptions are reasonable,
they are inherently uncertain. Unanticipated market or macroeconomic events and circumstances may occur, which could affect the
accuracy or validity of the estimates and assumptions. Intangible Assets The Company’s
amortizable intangibles consist of trademarks, customer relationships, software, and product formulation. The Company evaluates
its intangible assets for impairment when there is evidence that events or circumstances indicate that the carrying amount of these
assets may not be recoverable. Intangible assets with definite lives are amortized over their respective estimated useful lives
to their estimated residual values. Significant judgments and assumptions are required in the impairment evaluations. See Note
7 for further information regarding impairment on intangible assets taken in 2015. Goodwill Goodwill is not amortized
and is tested for impairment at least annually, or whenever events or changes in circumstances indicate the carrying amount of
the asset may be impaired. Significant judgment is involved in determining if an indicator of impairment has occurred. The Company
may consider indicators such as deterioration in general economic conditions, adverse changes in the markets in which the reporting
unit operates, increases in input costs that have negative effects on earnings and cash flows, or a trend of negative or declining
cash flows over multiple periods, among others. The fair value that could be realized in an actual transaction may differ from
that used to evaluate the impairment of goodwill. The Company may
first review for goodwill impairment by assessing qualitative factors to determine whether any impairment may exist. If the Company
believes, as a result of the qualitative assessment, that it is more likely than not that the fair value of a reporting unit is
less than its carrying amount, a quantitative two-step test is required; otherwise, no further testing is required. However, the
Company also may elect not to perform the qualitative assessment and, instead, proceed directly to the quantitative impairment
test. Under the first step of the quantitative test, the fair value of each reporting unit is compared with its carrying value
(including goodwill). If the fair value of the reporting unit exceeds its carrying value, step two is not performed. If the fair
value of the reporting unit is less than its carrying value, an indication of goodwill impairment exists for the reporting unit
and step two of the quantitative impairment test (measurement) is performed. Under step two, an impairment loss is recognized for
any excess of the carrying amount of the reporting unit’s goodwill over the fair value of that goodwill. The fair value of
goodwill is determined by allocating the fair value of the reporting unit in a manner similar to a purchase price allocation and
the residual fair value after this allocation is the fair value of the reporting unit goodwill. Goodwill at December
31, 2016 was recorded in connection with the acquisition of Peintures Elite, Inc. in 2013. A qualitative assessment was performed
for the year ended December 31, 2016 and it was determined no events had occurred since the acquisition that would indicate an
impairment was more likely than not. Property, Plant and Equipment Significant expenditures
for the replacement or expansion of property, plant and equipment are capitalized. Depreciation of property, plant and equipment
is provided over the estimated useful lives of the respective assets using the straight-line method. For financial reporting purposes,
assets are depreciated over the estimated useful lives of 20 years for buildings and improvements, life of the related lease for
leasehold improvements, 3 to 10 years for machinery and equipment, 7 years for furniture and fixtures and 3 years for computers
and accessories. The Company generally uses accelerated methods of depreciation for income tax purposes. The Company reviews long-lived
assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
The recoverability of property, plant and equipment is based on management’s estimates of future undiscounted cash flows
and these estimates may vary due to a number of factors, some of which may be outside of management’s control. To the extent
that the Company is unable to achieve management’s forecasts of future income, it may become necessary to record impairment
losses for any excess of the net book value of property, plant and equipment over their fair value. The Company did not record
any impairments related to property, plant and equipment in 2016, 2015, or 2014. The Company incurs
maintenance costs on all of its major equipment. Repair and maintenance costs are expensed as incurred. Income Taxes Income taxes are
accounted for under the asset and liability method. The Company uses an estimate of its annual effective rate at each interim period
based on the facts and circumstances at the time while the actual effective rate is calculated at year-end. Deferred tax assets
and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying
amounts of existing assets and liabilities and their respective tax bases and operating loss and tax credit carry forwards. Deferred
tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those
temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in
tax rates is recognized in income in the period that includes the enactment date. In assessing whether the deferred tax assets
are realizable management considers whether it is more likely than not that some portion or all of the deferred tax assets will
not be realized. The Company’s
uncertain tax positions are evaluated in a two-step process, whereby 1) the Company determines whether it is more likely than not
that the tax positions will be sustained based on the technical merits of the position and 2) for those tax positions that meet
the more likely than not recognition threshold, the Company would recognize the largest amount of tax benefit that is greater than
fifty percent likely to be realized upon ultimate settlement with the related tax authority. The Company accrues interest and penalties
related to uncertain tax positions in the statements of income as income tax expense. Other Taxes Sales taxes assessed
by governmental authorities, including sales, use, and excise taxes, are recorded on a net basis and therefore the presentation
of these taxes is excluded from revenues and are shown as a liability on the balance sheet until remitted to the appropriate taxing
authorities. Research and Development Research and development
related costs are charged to operations in the period incurred. Such costs were inconsequential for the year ended December 31,
2016 and amounted to approximately $0.1 million and $0.2 million for the years ended December 31, 2015 and 2014, respectively. Advertising Costs Advertising and
promotional costs are expensed as incurred and amounted to approximately $0.6 million, $0.6 million and $0.5 million for the years
ended December 31, 2016, 2015 and 2014, respectively. Fair Value of Financial and Derivative
Instruments Assets and liabilities
measured at fair value are categorized into a fair value hierarchy based upon the transparency of inputs to the valuation of an
asset or liability as of the measurement date. Inputs refer broadly to the assumptions that market participants would use in pricing
the asset or liability, including assumptions about risk. The categorization within the valuation hierarchy is based upon the lowest
level of input that is significant to the fair value measurement. Financial assets and liabilities carried at fair value will be
classified and disclosed in one of the following three categories:
● Level 1 — inputs to the valuation techniques are quoted prices in active markets for identical assets or liabilities
● Level 2 — inputs to the valuation techniques are other than quoted prices but are observable for the assets or liabilities, either directly or indirectly
● Level 3 — inputs to the valuation techniques are unobservable for the assets or liabilities The following tables
present the Company’s financial assets and liabilities measured at fair value based upon the level within the fair value
hierarchy in which the fair value measurements fall, as of December 31, 2016 and 2015. Fair Values Measured on a Recurring
Basis at December 31, 2016:
Level 1 Level 2 Level 3 Total
(in thousands)
Cash and cash equivalents $ 7,596 $ — $ — $ 7,596
Notes receivable $ — $ — $ 1,669 $ 1,669
Total $ 7,596 $ — $ 1,669 $ 9,265 Fair Values Measured on a Recurring
Basis at December 31, 2015:
Level 1 Level 2 Level 3 Total
(in thousands)
Cash and cash equivalents $ 17,862 $ — $ — $ 17,862
Marketable securities $ 2,101 $ — $ — $ 2,101
Notes receivable $ — $ — $ 1,669 $ 1,669
Total $ 19,963 $ — $ 1,669 $ 21,632 Quantitative information about the Company’s
level 3 fair value measurements at December 31, 2016 is set forth below:
$ in thousands Fair Value Valuation Technique Unobservable input Range
Note receivable $ 1,669 Discounted cash flow Probability of default Discount rate 57% 18%
The notes receivable
are recorded at estimated fair value at December 31, 2016 and accrue interest at a rate of 15% per annum. In order to help determine
the estimated fair value, the Company reviews the financial position and estimated cash flows of the debtor of the notes receivable.
During 2016, the probability of default used in the discounted cash flow analysis increased from 55% to 57%. During 2015, new information
became available regarding the ability of the debtor to repay the interest on the notes receivable, which caused the Company to
change the probability of default used in the discounted cash flow valuation from 0% to 55%. This resulted in a reduction to the
fair value of notes receivable of $1.6 million during the year ended December 31, 2015. The significant
unobservable inputs used in the fair value measurement of the Company’s note receivable are discount rate and probability
of default. Significant increases (decreases) in any of these inputs in isolation would result in a significantly lower (higher)
fair value measurement. The following table
reconciles the beginning and ending balance of the Company’s notes receivable fair value:
2016 2015
(in thousands)
Notes receivable balance, beginning of period $ 1,669 $ 2,985
Interest income accrued — 279
Fair value adjustment — (1,595 )
Notes receivable balance, end of period $ 1,669 $ 1,669 The carrying values
of all other financial assets and liabilities, including accounts receivable, accounts payable and accrued expenses reported in
the consolidated balance sheets, equal or approximate their fair values due to the short-term nature of these instruments. All
non-financial assets that are not recognized or disclosed at fair value in the financial statements on a recurring basis, which
include non-financial long-lived assets, are measured at fair value in certain circumstances (for example, when there is evidence
of impairment). During 2016, the Company did not have any significant non-recurring measurements of non-financial assets or liabilities.
Based on quoted market prices, the market value of the Company’s equity method investments was $14.7 million at December
31, 2016 (see Note 10). Earnings (Loss) Per Common Share Basic earnings per
share have been computed on the basis of the weighted average number of shares of common stock outstanding. Diluted earnings per
share have been computed on the basis of the weighted average number of shares of common stock outstanding after giving effect
to potential common shares from dilutive stock options and certain non-vested shares of restricted stock. The following table provides
reconciliation between basic and diluted earnings per share for the three years ended December 31:
2016 2015 2014
(in thousands)
Weighted average common shares outstanding 14,233 14,135 14,061
Assuming conversion of options and restricted stock awards outstanding 95 — —
Weighted average common shares outstanding, as adjusted 14,328 14,135 14,061 Grants and options
to purchase 407,000, 419,025 and 181,500 shares of common stock were outstanding as of December 31, 2016, 2015 and 2014, respectively,
but were not included in the computation of diluted earnings per share as the option’s exercise price was greater than the
average market price of the common shares for the respective periods. An additional 95,244 and 126,148 options and restricted stock
units were excluded for the year ended December 31, 2016 and 2015, respectively, as their inclusion would be anti-dilutive, thereby
increasing or decreasing the net income or loss, respectively, per share. Stock Compensation Plans The Company recognizes
compensation expense for all share-based payment awards made to employees and directors based on estimated values on the date of
grant. The Company uses the straight-line amortization method over the vesting period of the awards. The Company has historically
issued shares upon exercise of stock options or vesting of restricted stock from new stock issuances. The Company estimates the
fair value of restricted stock awards based upon the market price of the underlying common stock on the date of grant. The fair
value of stock options granted is calculated using the Black-Scholes option pricing model. No share-based compensation cost was
capitalized as a part of inventory as of December 31, 2016 and 2015. Post-Retirement Benefits The Company recognizes
the overfunded or underfunded position of a defined benefit postretirement plan as an asset or liability in the balance sheet,
measures the plan’s assets and its obligations that determine its funded status as of December 31, 2016 and recognizes the
changes in the funded status through comprehensive income (loss) in the year in which the changes occur. Foreign Currency Translation For foreign subsidiaries,
the environment in which the business conducts operations is considered the functional currency, generally the local currency.
The assets and liabilities of foreign subsidiaries are translated into the United States dollar at the foreign exchange rates in
effect at the end of the period. Revenue and expenses of foreign subsidiaries are translated using an average of the foreign exchange
rates in effect during the period. Translation adjustments are not included in determining net earnings but are presented in comprehensive
income (loss) within the consolidated statements of comprehensive income (loss). Transaction gains and losses that arise from foreign
exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in the consolidated
statement of operations as incurred. If the Company disposes of its investment in a foreign entity, any gain or loss on currency
translation balance recorded in accumulated other comprehensive income is recognized as part of the gain or loss on disposition.
Undistributed earnings of the Company’s foreign subsidiaries totaling $22.8 million are considered to not be permanently
reinvested and the applicable portion of accumulated other comprehensive income (loss) has been tax effected. The components of
accumulated other comprehensive income (loss) related to the earnings of foreign subsidiaries that are considered to be indefinitely
reinvested have not been tax effected. Warranty Reserves Historically, the
Company has generally granted a warranty to its customers for a one-year period following the sale of manufactured film projection
equipment and on selected repaired equipment for a one-year period. In most instances, the digital products are covered by the
manufacturing firm’s OEM warranty; however, there are certain customers where the Company may grant warranties in excess
of the manufacturer’s warranty for digital products. The Company accrues for these costs at the time of sale. The following
table summarizes warranty activity for the three years ended December 31, 2016.
2016 2015 2014
(in thousands)
Warranty accrual at beginning of period $ 310 $ 355 $ 244
Charged to expense 933 583 332
Amounts written off, net of recoveries (600 ) (592 ) (211 )
Foreign currency translation adjustment 2 (36 ) (10 )
Warranty accrual at end of period $ 645 $ 310 $ 355 Contingencies The Company accrues
for contingencies when its assessments indicate that it is probable that a liability has been incurred and an amount can be reasonably
estimated. The Company’s estimates are based on currently available facts and its estimates of the ultimate outcome or resolution.
Actual results may differ from the Company’s estimates resulting in an impact, positive or negative, on earnings. Recently Issued Accounting Pronouncements In May 2014, the
Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2014-09, “Revenue
from Contracts with Customers (Topic 606)” (“ASU 2014-09”). ASU 2014-09 requires an entity to recognize the amount
of revenue to which it expects to be entitled for the transfer of promised goods or services to customers. The ASU will replace
most existing revenue recognition guidance in U.S. GAAP when it becomes effective. The guidance is effective for the Company beginning
January 1, 2018. An entity may adopt this ASU either retrospectively or through a cumulative effect adjustment as of the start
of the first period for which it applies the ASU. Early adoption is not permitted. The Company has obtained an understanding of
ASU 2014-09 and has begun to analyze the impact of the new standard on its financial results. The Company has completed a high-level
assessment of the attributes within its contracts for its major products and services, and has started assessing potential impacts
to its internal processes, control environment, and disclosures. While the Company has not yet determined the method of adoption,
it will elect or quantified the impact of the adoption of ASU 2014-09 will have on the consolidated financial statements, the Company
is continuing to evaluate the impact of the new standard on our financial results and other possible impacts. The Company will
continue to provide enhanced disclosures as we continue our assessment. In July 2015, the
FASB issued Accounting Standards Update No. 2015-11, “Simplifying the Measurement of Inventory” (“ASU 2015-11”).
ASU 2015-11 requires an entity utilizing the first in-first out inventory method to change their measurement principle for inventory
changes from the lower of cost or market to lower of cost and net realizable value. The guidance is effective for the Company beginning
January 1, 2017. An entity must adopt this ASU prospectively and early adoption is permitted. The adoption of ASU 2015-11 is not
expected to have a material effect on the Company’s consolidated financial statements. In January 2016,
the FASB issued ASU 2016-01, “Financial Instruments - Overall: Recognition and Measurement of Financial Assets and Financial
Liabilities” (“ASU 2016-01”). ASU 2016-01 requires equity investments that do not result in consolidation and
are not accounted under the equity method to be measured at fair value with changes in fair value recognized in net income; simplifies
the impairment assessment of equity investments without readily determinable fair values by requiring a qualitative assessment
to identify impairment; requires an entity to present separately in other comprehensive income the portion of the total change
in the fair value of a liability resulting from a change in the instrument-specific credit risk when the entity has elected to
measure the liability at fair value in accordance with the fair value option for financial instruments; requires separate presentation
of financial assets and financial liabilities by measurement category and form of financial assets on the balance sheet or the
accompanying notes to the financial statements; clarifies that an entity should evaluate the need for a valuation allowance on
a deferred tax asset related to available-for-sale securities in combination with the entity’s other deferred tax assets;
and modifies certain fair value disclosure requirements. ASU 2016-01 is effective for financial statements issued for fiscal years
beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is not permitted. The adoption
of ASU 2016-01 is not expected to have a material effect on the Company’s consolidated financial statements. In February 2016,
the FASB issued ASU 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). ASU 2016-02 requires lessees to recognize
a lease liability and a right-to-use asset for all leases, including operating leases, with a term greater than twelve months,
on its balance sheet. This ASU is effective in fiscal years beginning after December 15, 2018, with early adoption permitted, and
requires a modified retrospective transition method. The Company is evaluating the requirements of ASU 2016-02 and its potential
impact on the Company’s financial statements. The Company has leases primarily for property and equipment and is in the process
of identifying and evaluating these leases in relation to the requirements of ASU 2016-02. For each of these leases, the term will
be evaluated, including extension and renewal options as well as the lease payments associated with the leases. While the Company
has not yet quantified the impact of the adoption of ASU 2016-02 will have on its consolidated financial statements, the Company
expects to record assets and liabilities on its balance sheet upon adoption of this standard, which may be material. The Company
will continue to provide enhanced disclosures as it continues its assessment. In
March 2016, the FASB issued ASU 2016-07, “Investments – Equity Method and Joint Ventures (Topic 323): Simplifying the
Transition to the Equity Method of Accounting,” (“ASU 2016-07”). ASU 2016-07 eliminates the requirement for the
Company to retroactively apply the equity method when its increase in ownership interests (or degree of influence) in an investee
triggers equity method accounting. This ASU is effective for the Company on January 1, 2017 with early adoption permitted. The
Company adopted ASU 2016-07 in 2016. As a result, the Company did not restate prior periods in its consolidated financial statements
when the accounting for the investment in PIH changed from fair value to the equity method in the fourth quarter of 2016 due to
additional investments and Company representation on PIH’s board of directors. In March 2016, the
FASB issued ASU 2016-09, “Compensation – Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment
Accounting” (“ASU 2016-09”). ASU 2016-09 simplifies accounting for share-based payment transactions, including
the income tax consequences, classification of awards as either equity or liabilities, an option to recognize gross stock compensation
expense with actual forfeitures recognized as they occur, and certain classifications on the statement of cash flows. This ASU
is effective for the Company on January 1, 2017 with early adoption permitted. While the Company has not yet completed its analysis,
the adoption of ASU 2016-09 is not expected to have a material effect on the Company’s consolidated financial statements
due to the lack of significant exercises of Company stock options. In June 2016, the
FASB issued ASU 2016-13, “Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial
Instruments”. This ASU will require the measurement of all expected credit losses for financial assets, including trade receivables,
held at the reporting date based on historical experience, current conditions, and reasonable and supportable forecasts. The guidance
is effective for annual reporting periods beginning after December 15, 2019 and interim periods within those fiscal years. The
Company believes its adoption will not significantly impact the Company’s results of operations and financial position. In August 2016,
the FASB issued ASU 2016-15, “Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments,”
which eliminates the diversity in practice related to eight cash flow classification issues. This ASU is effective for the Company
on January 1, 2018 with early adoption permitted. The Company believes its adoption will not significantly impact the Company’s
results of operations and financial position. In October 2016,
the FASB issued ASU 2016-16, “Income Taxes (Topic 740): Intra-Entity Transfers of Assets Other Than Inventory” (“ASU
2016-16” |
