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Related Party Transactions
9 Months Ended
Sep. 30, 2018
Related Party Transactions [Abstract]  
Related Party Transactions

Note 10 - Related party transactions

 

LeoGroup Private Debt Facility L.P. (“LeoGroup”) became a major shareholder as part of the Ermis Labs Asset Acquisition described in Notes 1 and 3. During the nine months ended September 30, 2018, approximately $160,000 of payments were made to LeoGroup Private Access, LLC in connection with the deferred consideration for the Ermis Labs Asset Acquisition.

 

On July 15, 2017, LeoGroup Private Access, LLC provided the Company with the $2,000,000 30-month secured promissory note to allow the buyout of the PhotoMedex royalty described in Notes 1 and 7. During the three and nine months ended September 30, 2018, $300,000 and $900,000 of payments, respectively, were made on the loan of which approximately $116,000 and $392,000, respectively, were interest expense. For the three and nine months ended September 30, 2017, interest expense of approximately $140,000 was recorded. 

On May 2, 2018, the Company and Kelvin Claney, the Company’s Chief Executive Officer, entered into a subscription agreement pursuant to which the Company issued to Mr. Claney 210,000 shares of series A preferred stock, par value $0.001 per share (the “Series A Preferred Stock”), for cash consideration of $403,200, or $1.92 per share described in Note 11.