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Related Party Transactions | 12 Months Ended
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Dec. 31, 2019
Related Party Transactions |
Related Party Transactions | Note 10 – Related Party Transactions In November 2018, one of the Company’s shareholders, who is also a co-founder and member of MDB Capital Group LLC, filed a draft solicitation statement with the SEC seeking the support of the Company’s shareholders in making a demand that the Company call a special meeting of its shareholders. In January 2019, the Company entered into a Cooperation Agreement with this shareholder pursuant to which the shareholder withdrew his request to hold a special meeting. The Cooperation Agreement among other things, includes certain standstill provisions. The term of the Cooperation agreement will continue until the earlier of (i) the day immediately following the date of 2020 annual meeting or (ii) December 31, 2020. Pursuant to the terms of the Cooperation Agreement the Company reimbursed the shareholder $40,000 for expenses, which is included in accounts payable and accrued liabilities at December 31, 2018. Costs incurred in connection with this matter, including the amount reimbursed to the shareholder, were recorded in general and administrative expenses and totaled approximately $101,000 and $364,000 for the years ended December 31, 2019 and 2018, respectively.

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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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