0-13375 & LSI INDUSTRIES INC. ( EXHIBITS AND FINANCIAL STATEMENT SCHEDULES 15 & & ITEM 16. Our marketing approach and means of distribution vary by product line and by market. & We source these materials and components from a variety of suppliers. & During economic downturns, customers also tend to delay purchases of new products. The Company takes a conservative approach when extending credit to its customers. This is particularly true in the Graphics Segment. The risk does exist that a customer cannot or will not honor its commitment to us. Cincinnati, OH& & Owned & & & & & & & & 3) LSI Industries technology center & 1,000 sq. At August& 31, 2020, there were approximately 634 shareholders of record. We conducted our audits in accordance with the standards of the PCAOB. We believe that our audits provide a reasonable basis for our opinion. & 31 - & & & LSI INDUSTRIES INC.& This approach was applied to contracts that were not completed as of June 30, 2018. There was no concentration of accounts receivable at June& 30, 2020 or 2019. The Company records a 10% mark-up on intersegment revenues. The Company has made time-based and performance-based stock option awards. This plan is fully funded in a Rabbi Trust. As of June 30, 2020, there were no such standby letters of credit issued. See further discussion of restructuring expenses in Note 15. & The facility was used as a warehouse and for light assembly of light fixtures. The net proceeds were $12.3 million resulting in a gain of $4.8 million. Selection of Chairman and/or Secretary, if necessary. & Upon appropriate demand, appointment of inspectors of election. & Reading, correction and approval of previously unapproved minutes. & Reports of officers and committees. & 6 - & & (b)& & & & & Shareholder Associated Person. ARTICLE III Directors & Section 1.& & & & & Attendance at Meetings of Persons Who Are Not Directors. Term of Office and Removal. & ( Nonexclusivity and Survival of Rights. Transfer of Securities Owned by the Corporation. I have reviewed this annual report on Form 10-K of LSI Industries Inc.; & 2.&
