v3.26.1
COMMITMENTS AND CONTINGENCIES (Tables)
6 Months Ended
Jun. 30, 2026
COMMITMENTS AND CONTINGENCIES.  
Schedule of future commitments

Future Commitments

Commitment

 

Counter Party

 

Commitment Type

 

2026

 

2027

 

2028

 

2029

2030 & After

Total

  ​ ​ ​

License Agreement

NCSU

Minimum annual royalty

$

50

$

100

$

125

$

150

$

3,050

$

3,475

(1)

Testing Services Agreement

NCSU

Contract fee

22

22

(2)

Consulting Agreements

Various

Contract fee

126

42

168

(3)

$

198

$

142

$

125

$

150

$

3,050

$

3,665

(1)The minimum annual royalty fee is credited against running royalties on sales of licensed products. The Company is also responsible for reimbursing NCSU for actual third-party patent costs incurred, including capitalized patent costs and patent maintenance costs. These costs vary from year to year and the Company has certain rights to direct the activities that result in these costs.
(2)On January 1, 2026, the Company engaged NCSU to perform field testing of low alkaloid tobacco lines.
(3)As a requirement for a modified risk tobacco product and condition of the marketing authorization by the FDA, the Company engaged various consulting firms to conduct post-market studies and research.