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Related-Party Transactions
6 Months Ended
Jun. 30, 2022
Related Party Transactions [Abstract]  
Related-Party Transactions

NOTE 11. RELATED-PARTY TRANSACTIONS

 

During the six months ended June 30, 2022, the Company incurred marketing expense of $217 in connection with the vesting of warrants held by an investor. There was no such marketing expense incurred during the three months ended June 30, 2022. During the three and six months ended June 30, 2021, the Company incurred marketing expense of $149 and $359, respectively, in connection with the vesting of warrants held by an investor.

The Company incurred consulting expense of $20 included in research and development expenses for the six months ended June 30, 2022, related to services provided by companies in which one of the Company's executives have control or significant influence. There were no related-party expenses incurred during the three months ended June 30, 2022. During the three and six months ended June 30, 2021, the Company incurred consulting expenses from these companies of $23 and $38, respectively.

On March 22, 2022, the Company purchased all of the outstanding equity interests of SightPlan (see Note 13). One of our directors, through a personal investment vehicle, held an unsecured convertible promissory note in SightPlan (the “SightPlan Convertible Note”). As consideration for the conversion and cancellation of the SightPlan Convertible Note, the director received $458 at the closing of the SightPlan acquisition. The director did not participate in any negotiations, recused himself from all board discussions related to the SightPlan acquisition, and did not vote on the matter.

Entities affiliated with RET, which currently hold more than 5% of the outstanding shares of the Company's Common Stock, held more than 17% of the fully diluted shares outstanding of SightPlan (the “RET SightPlan

Holdings”). As consideration for the RET SightPlan Holdings, entities affiliated with RET received $22,271 at the closing of the SightPlan acquisition. None of the Company's executive officers or directors hold any economic interest in RET and RET does not have a designee on the Company's board of directors. Further, RET did not assist the Company with any negotiations or participate in the Company's board discussions related to the SightPlan acquisition.