Investment in Unconsolidated Affiliates

3 Months Ended

Mar. 31, 2018

Investments, All Other Investments [Abstract]

Investment in Unconsolidated Affiliates

Note 5. Investment in Unconsolidated Affiliates.

During 2017 and 2016, we made investments in Semitech Semiconductor Pty. Ltd., an Australian corporation (“Semitech”), as part of a license and development agreement dated April 16, 2016. Semitech has developed Narrowband-Power Line Communications (“N-PLC”) products and market knowledge in the N-PLC devices space and plans to sell its products into the smart grid, solar, smart lighting and industrial space. Investments during 2016 through June 14, 2017 were recorded as notes receivable. On June 15, 2017, $0.4 million of notes receivable and accrued interest were converted into 233,335 shares of preferred stock in Semitech. This investment is recorded at cost in other non-current assets on the condensed consolidated balance sheets as of March 31, 2018. As of March 31, 2018 and 2017, we held investments in notes receivable in the amount of $0.3 million and $0.3 million, respectively, which were classified in other non-current assets on the condensed consolidated balance sheets.