Related party transactions

12 Months Ended

Dec. 31, 2021

Related party transactions

Related party transactions

13. Related party transactions

License agreements

The Company has entered into license agreements with shareholders of the Company (see Note 9, Licensing Arrangements). Expenses with these related parties during the years ended December 31, 2021 and 2020 were approximately $0.4 million and $0.1 million, respectively. Amounts owed to these related parties were approximately $0.1 million and $0 as of December 31, 2021 and 2020, respectively.

Broadband services agreement

In November 2015, the Company entered into a management services agreement (MSA) with BCM Advisory Partners LLC and Broadband Capital Partners LLC (collectively Broadband Capital). Certain directors of the Company are principals of Broadband Capital. Under the Broadband MSA, the Company engages Broadband Capital as a consultant for advice in connection with senior management matters related to the Company’s business, administration and policies in exchange for a cash fee to Broadband Capital of $20,000 per month. The Broadband MSA was amended and/or restated in July 2016, January 2017, June 2018, March 2020 and August 2020. In June 2021, the Company extended the Broadband MSA to continue through June 2022. The Company recorded $0.2 million and $0.2 million during the years ended December 31, 2021 and 2020, respectively, related to the Broadband MSA, which is included in general and administrative expenses in the statements of operations. There were no amounts due to Broadband Capital as of December 31, 2021 and 2020.