Related Party Transactions

3 Months Ended

Mar. 31, 2017

Note 10 – Related Party Transactions

Debt with Street Capital

As of March 31, 2017, the Company’s loan from Street Capital continues to be classified as related party debt because Allan Silber, an affiliate of Street Capital, is the Company’s chairman of the board, and a significant shareholder of the Company. At March 31, 2017 and December 31, 2016, the Company reported amounts owed to Street Capital of $0.8 million and $1.0 million respectively, as related party debt (see Note 7). Total interest of $0.5 million has been accrued on the debt and remains unpaid through March 31, 2017.

Transactions with Other Related Parties

As part of the operations of NLEX, the Company leases office space in Edwardsville, IL that is owned by the President of NLEX, David Ludwig. The total amount paid to the related party is outlined in the table below. All of the payments in both 2017 and 2016 were made to David Ludwig.

The lease amounts paid by the Company to the related parties, which are included in selling, general and administrative expenses during the three months ended March 31, 2017 and 2016, are detailed below (in thousands):

	Three months ended March 31,
Leased premises location	2017		2016
Foster City, CA	$	—	$	57
Edwardsville, IL		25		25
Total	$	25	$	82

In 2016 the Company entered into multiple related party loan agreements with certain executive officers of the Company. These related party loans are more fully described in Note 7. Both Ross Dove and Kirk Dove, who were parties to the related party loans, shared equally in all payments made by the Company to satisfy obligations under the loan agreements.