Related Party Transactions

9 Months Ended

Sep. 30, 2021

Related Party Transactions [Line Items]

Related Party Transactions Disclosure [Text Block]

Note 12 – Related Party Transactions

The Company has the following related party transactions:

As of September 30, 2021, Unilumin owns 52.0% of the Company’s Common Stock and beneficially owns 53.7% of the Company’s Common Stock.  Nicholas J. Fazio, Yang Liu and Yantao Yu, each directors and/or officers of the Company, are each directors and/or officers of Unilumin.  The Company purchased $1.1 million and $366,000 of product from Unilumin in the nine months ended September 30, 2021 and 2020, respectively, and $461,000 and $177,000 in the three months ended September 30, 2021 and 2020, respectively.  The amount payable by the Company to Unilumin was $2.0 million and $231,000 as of September 30, 2021 and December 31, 2020, respectively.  As disclosed in Note 7, the Loan Agreement with MidCap, including all right and responsibilities, was assigned to Unilumin as of July 30, 2021.