Note 9 - Related Party

9 Months Ended

Sep. 30, 2020

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

(9)  RELATED PARTY

Until January 2020, one of our directors served as an officer and director of Ameritas Life Insurance Corp. (“Ameritas”) and continues to serve on the board of directors of Ameritas. In connection with our regular assessment of our insurance-based associate benefits, which is conducted by an independent insurance broker, and the costs associated therewith, we purchase dental and vision insurance for certain of our associates from Ameritas. The total value of these purchases was $67,000 and $61,000 in the three-month periods ended September 30, 2020 and 2019, respectively and $181,000 and $187,000 in the nine-month periods ended September 30, 2020 and 2019, respectively.

A director, who served on our board through May 2020, also served as a board member of IMA Financial Group. In connection with our regular assessment of our liability coverage, during 2020 we began purchasing directors and officers and employment practices liability insurance through IMA Financial Group. These purchases totaled $478,000 in the nine-month period ended September 30, 2020. There were no purchases of this insurance during the three-month period ended September 30, 2020.

During 2017, we acquired a cost method investment in convertible preferred stock of Practicing Excellence.com, Inc., a privately-held Delaware Corporation (“PX”), which is included in other non-current assets and is carried at cost, adjusted for changes resulting from observable price changes in orderly transactions of the same investment in PX, if any.  We also have an agreement with PX which commenced in 2016 under which we act as a reseller of PX services and PX receives a portion of the revenues. The total revenue earned from the PX reseller agreement was $84,000 and $170,000 in the three-month periods ended September 30, 2020 and 2019, respectively, and $251,000 and $493,000 in the nine-month periods ended September 30, 2020 and 2019, respectively. We will no longer earn revenue under this agreement after September 30, 2021 due to termination of the reseller agreement.