Note 11 - Related Party Transactions

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

11

.      Related Party Transactions

In

June

 

2006,

the Company entered into a Development and Manufacturing Agreement (the “Agreement”) with Stellartech Research Corporation (“Stellartech”). The Agreement was amended on

October 

4,

2007.

Under the Agreement, the Company agreed to purchase

300

generators manufactured by Stellartech. As of

September 30, 2017,

the Company has purchased

465

units. The price per unit is variable and dependent on the volume and timing of units ordered. In conjunction with the Agreement, Stellartech purchased

37,500

shares of Viveve, Inc.’s common stock. Under the Agreement, the Company paid Stellartech

$2,620,000

and

$1,816,000

for goods and services during the

three

months ended

September 30, 2017

and

2016,

respectively, and

$6,326,000

and

$3,976,000

for the

nine

months ended

September 30, 2017

and

2016,

respectively The amounts due to Stellartech for accounts payable as of

September 30, 2017

and

December 31, 2016

were

$781,000

and

$1,297,000,

respectively.

In connection with the Distributorship Agreement entered into with ICM, the Company also entered into a Membership Unit Subscription Agreement with ICM and the Company invested

$2,500,000

in ICM (see Note

4

). In conjunction with the Distributorship Agreem

ent, the Company’s purchases of products from ICM has

not

been material during the

three

and

nine

months ended

September 30, 2017.