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RELATED PARTY TRANSACTIONS
 6 Months Ended
Jul. 01, 2023
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

15. 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 six months ended July 1, 2023 and June 25, 2022, the Company had the following transactions with related parties:

   

   Three Months Ended 
   July 1, 2023   June 25, 2022 
   Sales   Purchases   Sales   Purchases 
RealWear, Inc.  $562,622   $—   $94,805   $— 
HMDmd, Inc.   236,279    —    62,925    — 
Lightning Silicon Technology, Inc.   —    168,800    —    — 
   $798,901   $168,800   $157,730   $— 

 

   Six Months Ended 
   July 1, 2023   June 25, 2022 
   Sales   Purchases   Sales   Purchases 
RealWear, Inc.  $769,646   $—   $719,022   $— 
HMDmd, Inc.   502,755    —    62,925    — 
Lightning Silicon Technology, Inc.   —    208,055    —    — 
   $1,272,401   $208,055   $781,947   $— 

 

At July 1, 2023 and December 31, 2022, the Company had the following receivables from and payables to related parties:

 

   July 1, 2023   December 31, 2022 
   Receivables   Payables   Receivables   Payables 
RealWear, Inc.  $123,168   $—   $171,518   $— 
HMDmd, Inc.   92,752    —    151,340    — 
Solos Technology   1,295    —    2,248    — 
Lightning Silicon Technology, Inc.   10,396    193,800    —    — 
   $227,611   $193,800   $325,106   $—