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Note 11 - Related Party Transactions
 9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

NOTE 11.     RELATED PARTY TRANSACTIONS

 

Two relatives of Nikolay Shilev, Apyx Bulgaria’s Managing Director, are considered related parties. Teodora Shileva, Mr. Shilev’s spouse, is an employee of the Company working in the accounting department. Svetoslav Shilev, Mr. Shilev’s son, is a quality manager in the quality assurance department.

 

The partner in the Company’s China JV is also a supplier to the Company. For the three months ended September 30, 2024 and 2023, the Company made purchases from this supplier of approximately $189,000 and $50,000, respectively. For the nine months ended September 30, 2024 and 2023, the Company made purchases from this supplier of approximately $282,000 and $501,000, respectively. At September 30, 2024 and December 31, 2023, respectively, the Company had net payables to this supplier of approximately $30,000 and $82,000, respectively.