9. RELATED PARTIES

6 Months Ended

Jun. 30, 2020

Related Party Transactions [Abstract]

RELATED PARTIES

Payables to Related Parties

The Company had outstanding payables to related parties totaling $752,322 at June 30, 2020, and $68,668 at December 31, 2019. The outstanding payable at June 30, 2020 was primarily related to a $750,000 payment due to Rochal under the terms of the product license agreement dated May 4, 2020. The $750,000 amount due to Rochal will be paid in Sanara common stock in August of 2020.

Prepaid other - related party

In the normal course of business, the Company may advance payments to its suppliers, inclusive of Rochal, a related party. As of June 30, 2020, the Company prepaid $50,970 to Rochal for a finished goods inventory order. At December 31, 2019, there were no prepaid balances to related parties.