Related Party Transactions
|3 Months Ended|
Mar. 31, 2021
|Related Party Transactions [Abstract]|
|Related Party Transactions||
Note 14. Related Party Transactions
As further described in Note 8, a number of related parties participated in the 2020 Convertible Note offering during the quarter ending March 31, 2021.
In January 2020, a Company officer advanced $25 thousand to the Company. On August 12, 2020, to settle debt and accrued interest aggregating $26 thousand owed to the Company officer, the executive used this amount to exercise an existing vested Company stock option and was issued shares of common stock.
During 2020, related parties including former StemoniX Board members, officers of the Company or their immediate family (“Related Parties”) purchased $351 thousand of the 2020 Convertible Notes into shares of Series B Preferred Stock. In all instances the terms of these transactions were the same as third-party investors. thousand, or shares of Series B-2 Preferred Stock and converted $
During 2020, three Company executives deferred a portion of their compensation pursuant to the terms of their employment agreements. As of March 31, 2021 and 2020, the executives had deferred compensation of $60 thousand and $0, respectively, of their compensation. The $60 thousand was paid in April 2021 pursuant to the terms of the employment agreements.
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef