Note 12 - Related Party Transactions |
12 Months Ended |
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Dec. 31, 2023 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] |
12. Related Party Transactions
The Company owes Eric McAfee, the Company’s Chairman and CEO, and McAfee Capital LLC (“McAfee Capital”), owned by Eric McAfee and his wife, $0.4 million in connection with employment agreements and expense reimbursements. The balance accrued related to these employment agreements was $0.4 million as of December 31, 2023. On February 28, 2023, the Audit Committee of the Company approved a one-time fee of $350 thousand payable to McAfee Capital in connection with McAfee Capital’s guarantees of the Company’s indebtedness with Third Eye Capital. As of December 31, 2023, the outstanding balance is $175 thousand.
The Company owes various members of its Board of Directors amounts totaling $0.3 million as of December 31, 2023 and December 31, 2022, for each period, in connection with board compensation fees, which are included in accounts payable on the balance sheet. For the years ended December 31, 2023 and 2022 the Company expensed $0.4 million, and $0.4 million, respectively, in connection with board compensation fees.
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