Related Party Transactions

3 Months Ended

Mar. 31, 2022

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 March 31, 2022, Unilumin USA (“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 of the Company, are each directors and/or officers of Unilumin. The Company purchased $492,000 and $59,000 of product from Unilumin in the three months ended March 31, 2022 and 2021, respectively. The Company borrowed $250,000 under the revolving credit line with Unilumin in the three months ended March 31, 2022. The amount payable by the Company to Unilumin, including accounts payable, accrued interest and long-term debt, was $4.5 million and $3.7 million as of March 31, 2022 and December 31, 2021, respectively.