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Related Parties
 12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]  
Related Parties

Note 11 - Related Parties

 

As of December 31, 2019, amounts owed to related parties consisted of the following (in thousands):

 

    December 31, 2019  
Alexander Bafer, former Executive Chairman   $ 20  
John Textor, former Chief Executive Officer
and affiliated companies		     592  
Other     53  
Total   $ 665  

 

Our former Chairman, Mr. Bafer, advanced an unsecured, non-interest-bearing loan to the Company which is payable on demand. The amounts due to John Textor, Chief Executive Officer, represents an unpaid compensation liability assumed in the acquisition of EAI. The amounts due to other related parties also represent financing obligations assumed in the acquisition of EAI.

 

During the year ended December 31, 2019, the Company received approximately $423,000 from related parties, including a $300,000 advance from FaceBank, Inc., a development stage company controlled by Mr. Textor, $56,000 from Mr. Bafer, $37,000 from Mr. Textor and $30,000 from other related parties. During the year ended December 31, 2019, the Company paid approximately $156,000 to related parties, including $56,000 to Mr. Bafer, $49,000 to Mr. Textor and $51,000 to other related parties

 

On July 31, 2020, Alexander Bafer resigned as a member of the Company’s Board of Directors and as an executive officer of the Company and John Textor resigned as a member of the Board of Directors of the Company.

 

On December 1, 2020, the Company entered into a separation agreement with Mr. Textor which provided for one lump sum payment totaling $500,000. No further amounts are due and payable by the Company for advances from Mr. Textor.

 

The amounts due to other related parties at December 31, 2019 represent financing obligations assumed in the acquisition of EAI.