Note 10 - Related Party Transactions

12 Months Ended

Dec. 31, 2020

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note

10.

Related Party Transactions

Louis Hoch

During the year ended

December 31, 2020

and

2019

, the Company purchased

$9,885.72

 and

$13,831,

respectively, of corporate imprinted sportswear, promotional items and caps from Angry Pug Sportswear. Louis Hoch, President and Chief Executive Officer is a

50%

owner of Angry Pug Sportswear.

Miguel Chapa

During the year ended

December 31, 2020

and

2019

, the Company received

$0

 and

$6,665

 in revenue from Lush Rooftop. Miguel Chapa, a former member of the Board of Directors, was an owner in Lush Rooftop. Louis Hoch, President and Chief Executive Officer, was  an owner in Lush Rooftop. The relationship with Lush Rooftop ended in

September, 2019

when the business was sold.

During the year ended

December 31, 2020

and

2019

, respectively, the Company received

$3,219

 and

$24,363

 in revenue from BLVD Bar and Lounge. Miguel Chapa, a former member of the Board of Directors, was an owner in BLVD Bar and Lounge. Louis Hoch, President and Chief Executive Officer, was also an owner in BLVD Bar and Lounge.  In

May 2020,

Mr. Chapa and Mr. Hoch sold all their interests in BLVD.

Officers and Directors

On

January 6, 2019,

the Company repurchased

11,860

shares for

$21,822

in a private transaction at the closing price on

January 6, 2019

from employees to cover the respective employee's share of taxes for shares that vested on that day for Tom Jewell, Chief Financial Officer to cover taxes.

On

January 6, 2020,

the Company repurchased

11,860

shares of common stock for

$20,636

at the closing price on

January 6, 2020

from Tom Jewell, the Company's Chief Financial Officer to cover taxes.

On

January 6, 2021,

the Company repurchased

11,860

shares for

$38,545

 in a private transaction at the closing price on

January 6, 2021

of

$3.25

 per share from Tom Jewell, the Company's Chief Financial Officer, to cover his share of taxes.

The Company granted

1,444,000

shares of common stock with a

10

-year vesting period and

103,000

restricted stock units (RSUs) with a

3

-year vesting period to employees and Directors as a performance bonus on

April 1, 2020

at an issue price of

$1.08

per share. Executive officers and Directors included in the grant were Louis Hoch (

300,000

shares), Tom Jewell (

200,000

shares), Blaise Bender (

10,000

RSUs), Brad Rollins (

30,000

RSUs) and Miguel Chapa (

30,000

RSUs).

As approved by the Company's Compensation Committee, on

November 1, 2020,

the Company issued

136,891

shares of common stock to Mr. Louis Hoch, the Company's Chief Executive Officer, valued at

$216,000

at the closing price of

$1.5779

per share from

October 15, 2020

in satisfaction of the terms of the additional bonus of the employment agreement. As part of the transaction, on

November 1, 2020,

the Company repurchased

54,756

shares at the closing price of

$1.5779

on

October 15, 2020

from Mr. Hoch to cover withholding taxes due.