Related Party Transactions

9 Months Ended

Sep. 30, 2022

Related Party Transactions [Abstract]

Related Party Transactions

Note 9 - Related Party Transactions

John H. Schwan, who resigned as Chairman of the Board on June 1, 2020, has made loans to the Company which had outstanding balances of approximately $1.2 million as of September 30, 2022 and December 31, 2021, respectively. No payments were made to Mr. Schwan since 2019. Interest expense related to this loan amounted to $18,000 and $54,000 for the three and nine months ended September 30, 2022, and $17,000 and $51,000 for the three and nine months ended September 30, 2021, respectively. Mr. Schwan is the father of Jana Schwan, the Company’s Chief Operating Officer.