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RELATED PARTY TRANSACTIONS
 9 Months Ended
Sep. 26, 2020
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

14. RELATED PARTY TRANSACTIONS

 

The Company may from time to time enter into agreements with stockholders, 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 to enhance its product offering.

 

During the three and nine months ended September 26, 2020 and September 28, 2019, the Company had the following transactions with related parties:

 

 

    Three Months Ended  
    September 26, 2020     September 28, 2019  
    Revenues     Purchases     Sales     Purchases  
Solos Inc.   $ 868     $    —     $ —     $   —  
RealWear, Inc.     894,976       10,545       538,930       —  
    $ 895,843     $ 10,545     $ 538,930     $ —  

 

    Nine Months Ended  
    September 26, 2020     September 28, 2019  
    Revenues     Purchases     Sales     Purchases  
Goertek   $ —     $ —     $ —     $ 747,154  
Solos Inc.     247,326       —       —       —  
RealWear, Inc.     1,266,878       10,545       5,731,574       —  
    $ 1,514,204     $ 10,545     $ 5,731,574     $ 747,154  

 

At September 26, 2020 and December 28, 2019, the Company had the following receivables, contract liabilities and payables with related parties:

 

    September 26, 2020     December 28, 2019  
    Receivables     Contract Liabilities     Payables     Receivables     Contract Assets     Payables  
Solos Inc.   $ 868     $ —     $ 8,750     $ 283,203     $  —     $  8,750  
RealWear, Inc.     694,783       327,610       10,545       646,848       —       —  
    $ 695,651     $ 327,610     $ 19,295     $ 930,051     $ —     $ 8,750