NOTE N - SUBSEQUENT EVENT

The Company evaluates events that occur through the financial statement filing date and discloses any material or significant events or transactions. 

On February 20, 2026, the United States Supreme Court determined that tariffs imposed under the International Emergency Economic Powers Act (“IEEPA”) were contrary to law.  Although the Court of International Trade (CIT) has required customs to setup a mechanism for processing IEEPA refunds and the Company has filed for refunds under that process, the order is subject to appeal.   Any potential refunds, including the timing and amount thereof, remain uncertain and are dependent on further legal and administrative actions. In response to the Supreme Court’s ruling, the Trump administration implemented new tariffs, which included a 10% tariff under section 122 of the Trade Act of 1974   That statute deals with balance of trade deficits. That tariff is the subject of litigation and on May 7, the CIT ruled the tariff illegal. An appeal is expected. The government has announced that there will be additional tariffs based on alternative statutory authorities, resulting in ongoing uncertainty regarding future tariff actions and their possible impact on the Company. The Company is continuing to monitor these developments and evaluate the potential effects on its business, financial condition, and results of operations.