Section 1 Conflict Minerals Disclosure
Introduction
Geospace Technologies Corporation
(Geospace, or the Company, we or us, and other similar words) presents this Form SD Specialized Disclosure Report (Form SD) to comply with Rule 13p-1
of the Securities Exchange Act of 1934 (the Rule) for the reporting year ended on December 31, 2020.
The Rule was adopted by the
Securities and Exchange Commission (the SEC) to implement reporting and disclosure requirements related to conflict minerals as directed by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010. Conflict
minerals is defined by the SEC as columbite-tantalite (coltan), cassiterite, gold, wolframite, or their derivatives, which are limited to tantalum, tin, and tungsten. The Rule imposes certain reporting obligations on SEC registrants whose
products contain conflict minerals that are necessary to the functionality or production of their products, excepting conflict minerals that, prior to January 31, 2013, were located outside of the supply chain (as defined in the
Rule).
Company Overview
Geospace principally
designs and manufactures seismic instruments and equipment. We primarily market our seismic products to the oil and gas industry to locate, characterize and monitor hydrocarbon producing reservoirs. We also market our seismic products to
other industries for vibration monitoring, border and perimeter security and various geotechnical applications. We design and manufacture other products of a non-seismic nature, including water meter
products, imaging equipment and offshore cables.
Geospaces oil and gas products include wireless seismic data acquisition systems, reservoir
characterization products and services, and traditional seismic exploration products such as geophones, hydrophones, leader wire, connectors, cables, marine streamer retrieval and steering devices and various other seismic products.
Geospaces adjacent market products include water meter products, imaging equipment, offshore cables and seismic sensors used for vibration monitoring
and geotechnical applications. Included in the Companys imaging equipment products are electronic pre-press products that employ direct thermal imaging and digital inkjet printing technologies targeted
at the commercial graphics, industrial graphics, textile and flexographic printing industries. The Companys emerging markets products are used for perimeter security, including a detection system used for border and perimeter security
surveillance, cross-border tunneling detection and other products targeted at movement monitoring, intrusion detection and situational awareness.
Item 1.01
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Conflict Minerals Disclosure and Report
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(a) The Company manufactures products for which conflict minerals are necessary to the functionality or production.
Consequently, for those conflict minerals, Geospace has conducted, in good faith, a reasonable country of origin inquiry (RCOI) that was reasonably designed to determine whether those conflict minerals originated in the Democratic
Republic of the Congo or an adjoining country (Covered Countries), or are from a scrap or recycled source (as defined in Item 1.01(d)(6) of Form SD). Because Geospace also purchases
pre-manufactured assemblies for integration into the products it manufactures, its RCOI was also directed toward suppliers of those assemblies.