Related Parties |
3 Months Ended | ||
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Mar. 31, 2023 | |||
| Related Parties | |||
| Related Parties |
Helge Kristensen Mr. Kristensen has served as a member of the Company’s board of directors since 2010. Mr. Kristensen serves as vice president of Hansong Technology, an original device manufacturer of audio products based in China, president of Platin Gate Aps, a company with focus on service-branding in lifestyle products as well as pro line products based in Denmark and co-founder and director of Inizio Capital, an investment company based in the Cayman Islands. For the three months ended March 31, 2023 and 2022, Hansong Technology purchased modules from the Company of approximately $24,000 and $83,000, respectively, and made no payments to the Company during those same periods. At March 31, 2023 and 2022, Hansong Technology owed the Company approximately $190,000 and $83,000, respectively. For the three months ended March 31, 2023 and 2022, Hansong Technology sold speaker products to the Company of approximately $36,000 and $458,000, respectively, and the Company made payments to Hansong Technology of approximately $256,000 and $299,000 respectively. At March 31, 2023 and 2022, the Company owed Hansong Technology approximately $1,118,000 and $949,000, respectively. As of March 31, 2023 and December 31, 2022, Mr. Kristensen owned less than 1.0% of the outstanding shares of the Company’s common stock. |
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- References No definition available.
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- Definition 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
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