Related Parties |
6 Months Ended | ||
|---|---|---|---|
Jun. 30, 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 June 30, 2023 and 2022, Hansong Technology purchased modules from the Company of approximately $24,000 and $108,000, respectively, and made payments to the Company of approximately $189,000 and $0, respectively. For the three months ended June 30, 2023 and 2022, Hansong Technology sold speaker products to the Company of approximately $21,000 and $2,000, respectively, and the Company made payments to Hansong Technology of approximately $794,000 and $492,000, respectively. For the six months ended June 30, 2023 and 2022, Hansong Technology purchased modules from the Company of approximately $48,000 and $191,000, respectively, and made payments to the Company of approximately $189,000 and $0, respectively. For the six months ended June 30, 2023 and 2022, Hansong Technology sold speaker products to the Company of approximately $59,000 and $459,000, respectively, and the Company made payments to Hansong Technology of approximately $1,053,000 and $790,000, respectively. At June 30, 2023 and 2022, the Company owed Hansong Technology approximately $350,000 and $459,000, respectively. At June 30, 2023 and 2022, Hansong Technology owed the Company approximately $29,000 and $191,000, respectively. As of June 30, 2023 and December 31, 2022, Mr. Kristensen owned less than 1.0% of the outstanding shares of the Company’s common stock. |