OTHER COMMITMENTS AND CONTINGENCIES |
12 Months Ended | ||||||||||||||||||||||||||||||||||||
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Dec. 31, 2016 | |||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies Disclosure [Abstract] | |||||||||||||||||||||||||||||||||||||
| OTHER COMMITMENTS AND CONTINGENCIES | OTHER COMMITMENTS AND CONTINGENCIES Property and Rental Agreements In March 2014, we signed a lease for offices located in Purchase, New York. The lease is for 3,650 square feet of office space with a monthly cost of approximately $9,277 per month. In October 2015, pursuant to our acquisition of Bovie Bulgaria, we are obligated to pay $4,333 per month for the lease expiring on December 4, 2021. The following is a schedule of approximate future minimum lease payments under operating leases as of December 31, 2016:
Rent expense for the each year ended December 31, 2016, 2015 and 2014 approximated $0.2 million. Purchase Commitments At December 31, 2016, we had purchase commitments for inventories totaling approximately $4.4 million, substantially all of which is expected to be purchased by the end of 2017. |
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