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10. Related Party Transactions
 3 Months Ended
Mar. 31, 2021
Related Party Transactions [Abstract]  
10. Related Party Transactions

The Company owes Eric McAfee, the Company’s Chairman and CEO, and McAfee Capital LLC (“McAfee Capital”), owned by Eric McAfee, $0.4 million in connection with employment agreements and expense reimbursements previously accrued as salaries expense and accrued liabilities. For the three months ended March 31, 2021 and 2020, the Company did not incur any expenses by McAfee Capital and related entities. The Company previously prepaid $0.2 million to Redwood Capital, a company controlled by Eric McAfee, for the Company’s use of flight time on a corporate jet. As of March 31, 2021, $0.1 million remained as a prepaid expense.

 

On May 7, 2020, the Audit Committee of the Company approved a guarantee fee of 0.1% quarterly on the outstanding balance of Third Eye Capital Notes for 2020 annual fee. The balance of $0.5 million and $0.8 million, for guaranty fees, remained as an accrued liability as of March 31, 2021 and December 31, 2020, respectively.

 

The Company owes various members of the Board amounts totaling $1.0 million and $1.2 million as of March 31, 2021 and December 31, 2020, for each period, in connection with board compensation fees, which are included in accounts payable on the balance sheet. For the three months ended March 31, 2021 and 2020, the Company expensed $0.1 million respectively, in connection with board compensation fees.