Stereotaxis
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10-Q
STEREOTAXIS, INC. filed this Form 10-Q on 08/08/2018
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11. Product Warranty Provisions

 

The Company’s standard policy is to warrant all Niobe, Odyssey, and Vdrive systems against defects in material or workmanship for one year following installation. The Company’s estimate of costs to service the warranty obligations is based on historical experience and current product performance trends. A regular review of warranty obligations is performed to determine the adequacy of the reserve and adjustments are made to the estimated warranty liability as appropriate.

 

Accrued warranty, which is included in other accrued liabilities, consists of the following:

 

   June 30, 2018   December 31, 2017 
Warranty accrual, beginning of the fiscal period  $164,365   $222,845 
Accrual adjustment for product warranty   (4,153)   32,679 
Payments made   (16,221)   (91,159)
Warranty accrual, end of the fiscal period  $143,991   $164,365 

 

12. Commitments and Contingencies

 

The Company at times becomes a party to claims in the ordinary course of business. Management believes that the ultimate resolution of pending or threatened proceedings will not have a material effect on the financial position, results of operations or liquidity of the Company.

 

13. Subsequent Events

 

None.

 

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