OTHER LONG TERM ASSETS

3 Months Ended

Mar. 31, 2025

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

4. OTHER LONG TERM ASSETS

Other long term assets were as follows:

SCHEDULE OF OTHER LONG TERM ASSETS

	March 31,		December 31,
	2025		2024
	(in thousands)
Inventories, net	$	2,384	$	2,503
Cash surrender value of life insurance policies		1,117		1,108
Other		108		123
Other Long Term Assets	$	3,609	$	3,734

The Company maintains inventories, net of reserves of $1,000,000 as of March 31, 2025 and December 31, 2024, which is estimated to be used beyond the next twelve months, mainly for the corrugated medical tubing (“CMT”) products. Higher amounts of materials for the CMT products were initially purchased for cost considerations and because of longer required lead times.

The Company has obtained and is the beneficiary of life insurance policies with respect to past employees. During 2024, the insured for one of the policies became deceased which allowed for proceeds to be received from a claim upon the policy of $739,000.

Omega Flex, Inc. 10-Q