As of August 10, 2020, there were 29,241,889 shares of Common Stock outstanding. We currently maintain product liability insurance. A number of risks are inherent in international transactions. Leases for these leased facilities expire at various dates through the year 2040. Under the settlement agreement, the plaintiffs were to be paid in three installments. The Company and Pacific Harvest each agreed to pay one half of the settlement payments. As of May 31, 2020, the reserve balance remained at $1.2 million. The Company is cooperating in the government investigations and requests for information. Nor are there any insurance claims recorded as they are similarly contingent. This dismisses the case against the Company with no other further legal action required. v. Curation Foods, Inc., et al. ( Based on this alleged breach, Pacific and Rancho have ceased making payments. The Landec Parties have not yet appeared in this action. As such, all revenue is considered revenue recognized from contracts with customers. The Company uses the income approach to estimate the fair value of its trademarks. The number of years with open tax audits varies by jurisdiction. Any resolution of a tax issue may require the use of cash in the year of resolution. These derivative instruments may offset a portion of the changes in interest expense. The Company designates these derivative instruments as cash flow hedges. We conducted our audits in accordance with the standards of the PCAOB. A valuation allowance is provided for known and anticipated credit losses. Lifecore did not have any individual customers that exceeded 5% of total revenues. Sales return allowances are estimated based on historical sales return amounts. Notes are interest bearing obligations, evidenced by contracts and notes receivable. In the fourth quarter of fiscal year 2019, the Company submitted a product recall claim. It also clarifies and simplifies other aspects of the accounting for incomes taxes. Early application is permitted. This ASU will be effective for the Company beginning June 1, 2020. Approximately 80% of the goodwill is expected to be deductible for income tax purposes. In addition, awards to non-employee directors are discretionary. Miscellaneous.13.1 Entire Plan; Relation to Other Agreements. Signature: /s/ Albert D. Bolles, Ph. Classified within temporary equity if redemption is outside the control of the issuer.
