RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2021

Related Party Transactions [Abstract]

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS    

    In August 2019, we entered into a consulting agreement with a member of our board of directors. Under the agreement, the board member would provide technical advisory services for cash payments totaling $50,000 paid in twelve equal monthly installments as well as an award of restricted stock units equal in value to $100,000 as of the grant date. In the event the board member continues to perform services in subsequent years, the Company will issue new grants equal to no less than $100,000 worth of restricted stock units in January of each additional year with such grants vesting at the end of each year so long as the services are still being provided. The agreement is cancellable at any time by either the Company or the board member. Services have continued to be provided since inception of the agreement. During the year ended December 31, 2021, we recorded expenses of $50,000 in connection with the cash compensation portion of the consulting agreement, which is included in research and development expenses. During the year ended December 31, 2020, we recorded expenses of $50,000 in connection with the cash compensation portion of the consulting agreement, which is included in research and development expenses. Additionally, during the year ended December 31, 2021, we recorded $100,000 related to the restricted stock unit awards, which is included in general and administrative expenses. During the year ended December 31, 2020, we recorded $102,000 related to restricted stock awards, which is included in general and administrative expense. As of December 31, 2021, there was $4,000 due to the board member under his consulting agreement.

In October 2021, we entered into a Sublease Agreement with Sonim Technologies, Inc. for approximately 8,416 square feet of office space in San Mateo, California to serve as a replacement to our current satellite office for employees residing in the San Francisco Bay area. The rent under the sublease is $12,500 per month. The term commences on January 17, 2022 and expires on January 31, 2023 with an option to renew the sublease for an additional one-year term for rent of $13,250 per month. Alan Howe, a member of our board of directors, is a director of Sonim Technologies, and Robert Tirva, a member of our board of directors, is an executive officer of Sonim Technologies.