In December& 2002, the Company changed its name to IKONICS Corporation.& These products are sold worldwide primarily through distributors.& All the funds under the loan were disbursed to the Company on April 22, 2020. A substantial portion of these investments was for new products and initiatives.& & The Company relies on one company to manufacture and sell DTX printers.& & These fluctuations may be unrelated to the Company's performance. & & The Company does not incur significant upfront costs to obtain a contract.& & The Company includes freight billed to customers in revenue. The transaction price for the Company's products is the invoiced amount.& & The customer has no rotation or price protection rights. & & The allowance is based on a review of all outstanding amounts on an on-going basis. Trade receivables are written off when deemed uncollectible. The Company records these costs in selling, general, and administrative expense. & & AMS sales decreased from $1.6& million in 2019 to $952,000 in 2020, a 39.0% decrease.& DTX sales also decreased in 2020 from $394,000 in 2019 to $295,000 in& 2020.& Selling, General and Administrative Expenses.& & There were no short-term investments as of December 31, 2020.& During 2020, cash provided by investing activities was $2.1 million.& Nine certificates of deposits totaling $2.2 million matured during the year.& The Company received $18,000 in proceeds from the sale of vehicle.& Both the Chromaline and IKONICS Imaging units operate in mature markets.& 2019-05, and in November 2019, issued ASU No. The Company is still evaluating the impact of this ASU. & Accordingly, we express no such opinion. & & The customer base for AMS is primarily the aerospace and electronics industries. For most markets these sales are direct to the mold maker. Repair and maintenance costs are expensed in the period in which they are incurred. Changes in Internal Control Over Financial Reporting.& & Item 9B. Other Information& & & None. & 4.1 & Specimen of Common Stock Certificate. ( 31.2 & Rule& 13a-14(a)/15d-14(a)& Certifications of CFO. I have reviewed this annual report on Form& 10-K of IKONICS Corporation; & & 2. + ReferencesNo definition available. Examples include, but are not limited to, desks, chairs, tables, and bookcases. Excludes capital lease obligations. Common stock represent the ownership interest in a corporation.