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Note 10 - Subordinated Debt - Related Parties
12 Months Ended
Dec. 31, 2020
Notes to Financial Statements  
Subordinated Borrowings Disclosure [Text Block]
10.
  
Subordinated Debt
Related Parties
 
As of
December 2017,
Mr. Schwan was owed a total of
$1.1
million, with additional accrued interest of
$0.4
million, by the Company. As part of the
December 2017
financing with PNC, Mr. Schwan executed a subordination agreement related to these amounts due him, as evidenced by a related note representing the amount owed to Mr. Schwan. During
January 2019,
Mr. Schwan and the Company agreed to an exchange of
$0.6
million of his debt for approximately
181,000
shares of CTI common stock at the then market rate of
$3.32
per share. As of
December 31, 2020
and
2019,
the balance of Mr. Schwan's note was approximately
$1.1
million and
$1.1
million, respectively, including accrued interest.