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Transactions with Tigress and Hedge Connection
6 Months Ended
Jun. 30, 2023
Transactions with Tigress and Hedge Connection [Abstract]  
Transactions with Tigress and Hedge Connection

3. Transactions with Tigress and Hedge Connection

 

In 2021 and 2022, the Company entered into agreements and subsequent reorganization agreements and termination agreements with Tigress Holdings, LLC (“Tigress”) and Hedge Connection, LLC (“Hedge Connection”). Refer to Note 3 – Transactions with Tigress and Hedge Connection in the Company’s 2022 Form 10-K and Note 11 – Equity Method Investment in Related Party in this Report for more detail on these transactions and information that impacted the periods presented.

 

On January 21, 2022, the Company purchased Hedge Connection for $1,000,000, of which $400,000 was noncash consideration and $600,000 was a note payable. The Company paid off $350,000 of its note payable to Hedge Connection during the six months ended June 30, 2022.