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RELATED PARTY TRANSACTIONS | 6 Months Ended
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Jun. 30, 2018
Related Party Transactions [Abstract] |
RELATED PARTY TRANSACTIONS | RELATED PARTY TRANSACTIONS The Company may from time to time enter into agreements with shareholders, affiliates and other companies engaged in certain aspects of the display, electronics, optical and software industries as part of our business strategy. In addition, the wearable computing product market is relatively new and there may be other technologies the Company needs to purchase from affiliates in order to enhance its product offering. The Company and Goertek Inc. ("Goertek") have entered into agreements to jointly develop and commercialize a range of technologies and wearable products. These include: a mutually exclusive supply and manufacturing arrangement for a certain display product for 24 months after mass production begins; an agreement that provides the Company with the right of first refusal to invest in certain manufacturing capacity for certain products with Goertek; an agreement whereby Goertek will provide system level original equipment manufacturing services for the Company's wearable products; an arrangement whereby the Company will supply display modules for Goertek's virtual reality and augmented reality products; and other agreements related to promotion around certain products as well as providing designs relating to head mounted displays. During the three and six month periods ended June 30, 2018 and July 1, 2017, the Company had the following transactions with related parties:
| Three Months Ended
| June 30, 2018 |  | July 1, 2017
| Sales |  | Purchases |  | Sales |  | Purchases
Goertek | $ | — |  |  | $ | 78,905 |  |  | $ | — |  |  | $ | 173,925 |
RealWear, Inc. | 261,605 |  |  | — |  |  | — |  |  | — |
| $ | 261,605 |  |  | $ | 78,905 |  |  | $ | — |  |  | $ | 173,925 |
| Six Months Ended
| June 30, 2018 |  | July 1, 2017
| Sales |  | Purchases |  | Sales |  | Purchases
Goertek | $ | — |  |  | $ | 298,909 |  |  | $ | — |  |  | $ | 182,925 |
RealWear, Inc. | 512,956 |  |  | — |  |  | — |  |  | — |
| $ | 512,956 |  |  | $ | 298,909 |  |  | $ | — |  |  | $ | 182,925 |
The Company had the following receivables, contract assets and payables with related parties:
| June 30, 2018 |  | December 30, 2017
| Receivables |  | Contract assets |  | Payables |  | Receivables |  | Payables
Goertek | $ | — |  |  | $ | — |  |  | $ | 122,974 |  |  | $ | — |  |  | $ | 326,877 |
RealWear, Inc. | 246,005 |  |  | 900,000 |  |  | — |  |  | 414,635 |  |  | — |
| $ | 246,005 |  |  | $ | 900,000 |  |  | $ | 122,974 |  |  | $ | 414,635 |  |  | $ | 326,877 |

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- Definition The entire disclosure of information about investment held by insurance company, excluding investment in related party. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 12 -Subsection 15 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -Section S99 -Paragraph 7 -Subparagraph (SX 210.12-15) -URI http://asc.fasb.org/extlink&oid=50485924&loc=d3e611379-123010 + Details
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- References No definition available. + Details
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