Note 11 - Related Party Transactions

6 Months Ended

Jun. 30, 2018

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

June 30, 2018,

the Company has purchased

709

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 approximately

$2,325,000

and

$1,681,000

for goods and services during the

three

months ended

June 30, 2018

and

2017,

respectively, and approximately

$5,598,000

and

$3,706,000

for the

six

months ended

June 30, 2018

and

2017,

respectively. The amounts due to Stellartech for accounts payable as of

June 30, 2018

and

December 31, 2017

were approximately

$1,258,000

and

$1,380,000,

respectively.

In connection with the Distributorship Agreement entered into with ICM in

August 2017,

the Company also entered into a Membership Unit Subscription Agreement with ICM and the Company invested

$2,500,000

in ICM. As of

June 30, 2018,

the Company has purchased approximately

2,700

units of ICM products. The Company paid ICM approximately

$63,000

and

$143,000

for product related costs during the

three

and

six

months ended

June 30, 2018,

respectively. The amounts due to ICM for the accounts payable as of

June 30, 2018

and

December 31, 2017

were approximately

$22,000

and

$28,000,

respectively.