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Related Party Balances and Transactions | 12 Months Ended
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Dec. 31, 2019
Related Party Transactions [Abstract] |
Related Party Balances and Transactions | NOTE 13—RELATED PARTY BALANCES AND TRANSACTIONS a) Director Fees The Company recorded fees to directors of $50 and $166 (including a bonus to the former board chairman of $50) for the years ended December 31, 2019 and 2018, respectively, which is included in Selling, general and administrative expenses. Each Director of the Company may elect by written notice delivered on or before the first day of each calendar year whether to receive, in lieu of some or all of his or her retainer and board fees, that number of shares of Company common stock as shall have a value equal to the applicable retainer and board fees, based on the closing price of the Company’s common stock on its then-current trading platform or exchange on the last trading day immediately preceding the first day of the applicable year. Once made, the election shall be irrevocable for such election year and the shares subject to the election shall vest and be issued one-fourth upon the first day of the election year and one-fourth as of the first day of each of the second through fourth calendar quarters thereafter during the remainder of the election year. For the 2018 calendar year, Mr. Woolard elected to receive Common Stock in lieu of retainer and board fees of $13, which is included in the fees to directors above. Accordingly, Mr. Woolard was issued 55,435 shares of common stock for 2018. b) 2017 Director Loans On February 16, 2017, the Company secured commitments for $1,900 in funding in the form of loans from members of the Company’s Board of Directors, of which $900 was immediately funded and an additional $400 was funded in the third quarter of 2017. On February 22, 2018, following the receipt of the proceeds from the 2018 DSIT Transaction (see Note 3), the Company repaid in full $1,300 of principal and $128 accrued interest due through that date with respect to these loans. Prior to the repayment of these loans on February 22, 2018, the Company accrued $21 of interest expense in the year ended December 31, 2018. c) See Note 4 for information related to the sale of OmniMetrix Preferred Stock to one of the Company’s former directors and a loan from the director to OmniMetrix and the subsequent repurchase of this Preferred Stock on July 1, 2019. d) The related party balance due to Acorn from OmniMetrix is $4,506 for amounts loaned, accrued interest and expenses paid by Acorn on Omni’s behalf as of December 31, 2019 as compared to $3,948 as of December 31, 2018.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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