Quarterly report [Sections 13 or 15(d)]

Note 17 - Related Party Transactions

v3.25.1
Note 17 - Related Party Transactions
3 Months Ended
Mar. 31, 2025
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

17.          Related Party Transactions

 

There were no related party transactions during the three months ended March 31, 2025.

 

On February 4, 2023, the Company entered into a mutual release and settlement agreement with an entity to settle and resolve any and all potential claims brought forth in connection with a consulting agreement executed between the entity and the Company in July 2017. Under the terms of the consulting agreement, the Company was required to make milestone payments for the introduction of potential partners for, and the consummation of, a strategic joint venture. A member of the Company's board of directors is affiliated with one of two entities under common control.

 

The Company's total settlement amount was $325 and to be paid in cash over 14 months, with an initial payment of $145 paid in the first 40 days and $15 per month for the remaining 12 months. The total settlement amount was fully paid in April 2024.