Note 7 - Related Party Transaction

12 Months Ended

Dec. 31, 2022

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

(7) Related Party Transaction

On December 10, 2021, the Company entered into a Loan Agreement with EVRYTHNG (the “Loan Agreement”) pursuant to the Share Purchase Agreement ("SPA") dated November 15, 2021 relating to the Company’s acquisition of EVRYTHNG. The Loan Agreement provided for a loan facility of $2,000 to EVRYTHNG at an interest rate of 1% per annum. The aggregate outstanding balance of the loan, with accrued interest, was $2,001 as of December 31, 2021.

On January 3, 2022, the Company completed its acquisition of EVRYTHNG. The loan balance was included in “loan payable to related party” in the purchase price allocation, as the liability was assumed by the combined company. The loan payable balance is eliminated in consolidation in the Consolidated Balance Sheet as of December 31, 2022.