Note 15 - Related Party Transactions

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE

15.

RELATED PARTY TRANSACTIONS

Related Party Loans

See Note

8,

“Related Party Notes Payable” for a description of the Loan with the following related parties: Mr. Sieczkarek, Chairman of the Board, President and Chief Executive Officer of the Company; the Gail J.

 Maderis Revocable Trust, on behalf of Ms. Maderis, a Director of the Company; Dr. McPherson, a Director of the Company; and Pioneer Singapore and Mr. Fu, the Company’s

two

largest stockholders. The Loan was fully paid off on

August 1, 2016.

Related Party Financing

See Note

11,

“Stockholders

’ Equity (Deficit)” – “Common Stock” for a description of the

February 2016

Purchase Agreements and

April 2016

Securities Purchase Agreement. The following related parties participated in both transactions: Mr. Sieczkarek, Chairman of the Board, President and Chief Executive Officer of the Company; and Pioneer Singapore and Mr. Fu, the Company’s

two

largest stockholders.

Related Party Revenue

The Company recognized related party revenues from product sales and license and collaboration fees of

$6

thousand for both the

three

months ended

September 30, 2017

and

2016,

and

$21

thousand and

$300

thousand for the

nine

months ended

September 30, 2017

and

2016,

respectively. There were

no

related party accounts receivable as of

September 30, 2017

and

December 31, 2016.

See Note

13,

“License, Collaboration and Distribution Agreements - NeutroPhase Distribution Agreements,”

for additional information regarding the Company’s distribution agreements with Pioneer, which is an affiliate of Pioneer Singapore, the Company’s largest stockholder.

Related Party Expenses

The Company recognized related party commission fees of

$0

and

$548

thousand for the

three

months ended

September 30, 2017

and

2016,

respectively, and recognized

$0

and

$1,111

thousand for the

nine

months ended

September 30, 2017

and

2016,

respectively. These fees were paid to China Kington representing the commission on its sale of the Company

’s common stock. See Note

11,

“Stockholders’ Equity (Deficit)” – “Common Stock” for additional information regarding such commissions.