We originally incorporated as a Delaware corporation on September 27, 1994. We principally design and manufacture seismic instruments and equipment. Our Adjacent Markets segment was previously referred to as our Non-Seismic segment. Our primary competitor for our seabed PRM systems is Alcatel-Lucent. Our border and perimeter security customers are primarily government agencies. One customer comprised 48.2% of our revenue during fiscal year 2020. We are not able to predict the effect of any patent expiration. Accordingly, we are committed to the health and safety of our employees. We integrate responsible and sustainable practices throughout our organization. However, the risks described below are not the only risks facing us. See "The Limited Market for Our Oil and Gas Products Can Affect Our Revenue," above. We have not received any orders for large-scale seabed PRM systems since November 2012. 2) This property is located at 6410 Langfield Road in Houston, Texas. This facility contains substantially all of our fiber optic sensing operations. ( There are no outstanding liabilities related to this program as of September 30, 2020. For fiscal year 2020, we generated $18.1 million of cash from operating activities. In-kind interest payments require an 8.8% interest rate. The bond matures July 13, 2022. We had no long-term debt outstanding throughout the fiscal year ended September 30, 2019. The maximum amount of contingent payments is $23.5 million. Inventories are stated at the lower of cost or net realizable value. In certain situations, credit terms may be extended to 60 days or longer. In such cases, the Company may require collateral. Allowances are recognized for potential credit losses. Repairs and maintenance expenditures are charged to expense as incurred. The assessment primarily utilized an income approach based on discounted cash flows. No adjustment to the opening balance of retained earnings was required upon adoption. The Company adopted this guidance on October 1, 2019. The Company primarily derives product revenue from the sale of its manufactured products. The Company assesses collectability during the contract assessment phase. Revenue recognized under the contract for fiscal year 2020 was $0.3 million. The Company had no deferred contract costs at September 30, 2020 and September 30, 2019. The customer had rented a significant amount of marine nodal equipment from the Company. See Note 2 for more information on this matter. No nonqualified stock options were exercised during fiscal year 2020. I have reviewed this annual report on Form 10-K of Geospace Technologies Corporation; 2. Deferred tax assets liabilities gross. Increase (decrease) in deferred revenue and other liabilities. Proceeds from sale of property. Extended credit terms for trade receivables. Single Customer Single Customer [Member] Senior secured bond. Third Amendment Third Amendment [Member] Fourth amendment. Line of credit facility borrowing base as percent of assets. United States United States Subsidiary [Member] Canada federation subsidiary. The Company’s normal credit terms for trade receivables are 30 days. One customer comprised 48.2% of the Company’s revenue during fiscal year 2020. The Company has no goodwill associated with its Adjacent Markets reporting unit. & See Note 20 to these consolidated financial statements for additional information. & The table excludes all revenue earned from rental contracts. &
