|
NOTE 12 — RELATED PARTY TRANSACTIONS
The following table sets forth information relating to loans from related parties outstanding on or at any time during the nine months ended September 30, 2021 (in thousands):
|
Class
|
Lender
|
|
Interest
Rate
|
|
|
Date of
Loan
|
|
Term of Loan
|
|
Principal Amount Outstanding at September 30, 2021
|
|
|
Highest
Principal
Outstanding
|
|
|
Amount of
Principal
Repaid
|
|
|
Amount of
Interest
Paid
|
|
|
|
Current, Promissory note payable to related parties:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Willis Lee (2)
|
|
12%
|
|
|
10/29/2020
|
|
Due on Demand
|
|
|
100
|
|
|
|
100
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
Soomi Niihara (1)
|
|
12%
|
|
|
9/15/2021
|
|
Due on Demand
|
|
|
300
|
|
|
|
300
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
Subtotal
|
|
|
400
|
|
|
|
400
|
|
|
|
—
|
|
|
|
—
|
|
|
|
Revolving line of credit agreement
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Yutaka Niihara (1)
|
|
5.25%
|
|
|
12/27/2019
|
|
Due on Demand
|
|
|
600
|
|
|
|
800
|
|
|
|
—
|
|
|
|
28
|
|
|
|
|
|
|
|
|
|
|
|
|
Subtotal
|
|
|
600
|
|
|
|
800
|
|
|
|
—
|
|
|
|
28
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
1,000
|
|
|
$
|
1,200
|
|
|
$
|
—
|
|
|
$
|
28
|
|
|
The following table sets forth information relating to loans from related parties outstanding at any time during the year ended December 31, 2020:
|
Class
|
Lender
|
|
Interest
Rate
|
|
|
Date of
Loan
|
|
Term of Loan
|
|
Principal Amount Outstanding at December 31, 2020
|
|
|
Highest
Principal
Outstanding
|
|
|
Amount of
Principal
Repaid
|
|
|
Amount of
Interest
Paid
|
|
|
|
Current, Promissory note payable to related parties:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Lan T. Tran (2)
|
|
10%
|
|
|
4/29/2016
|
|
Due on Demand
|
|
$
|
20
|
|
|
$
|
20
|
|
|
$
|
—
|
|
|
$
|
—
|
|
|
|
|
Lan T. Tran (2)
|
|
11%
|
|
|
2/10/2018
|
|
Due on Demand
|
|
|
—
|
|
|
|
159
|
|
|
|
159
|
|
|
|
35
|
|
|
|
|
Lan T. Tran (2)
|
|
10%
|
|
|
2/9/2019
|
|
Due on Demand
|
|
|
14
|
|
|
|
14
|
|
|
|
—
|
|
|
|
—
|
|
|
|
|
Hope Int'l Hospice (1)
|
|
12%
|
|
|
9/1/2020
|
|
Due on Demand
|
|
|
—
|
|
|
|
194
|
|
|
|
194
|
|
|
|
2
|
|
|
|
|
Hope Int'l Homecare (1)
|
|
12%
|
|
|
9/1/2020
|
|
Due on Demand
|
|
|
—
|
|
|
|
189
|
|
|
|
189
|
|
|
|
1
|
|
|
|
|
Soomi Niihara (1)
|
|
12%
|
|
|
9/1/2020
|
|
Due on Demand
|
|
|
—
|
|
|
|
98
|
|
|
|
98
|
|
|
|
4
|
|
|
|
|
Soomi Niihara (1)
|
|
12%
|
|
|
10/28/2020
|
|
Due on Demand
|
|
|
—
|
|
|
|
395
|
|
|
|
395
|
|
|
|
12
|
|
|
|
|
Willis Lee (2)
|
|
12%
|
|
|
9/1/2020
|
|
Due on Demand
|
|
|
—
|
|
|
|
685
|
|
|
|
685
|
|
|
|
1
|
|
|
|
|
Willis Lee (2)
|
|
12%
|
|
|
10/29/2020
|
|
Due on Demand
|
|
|
100
|
|
|
|
100
|
|
|
|
100
|
|
|
|
—
|
|
|
|
|
|
|
|
|
|
|
|
|
Subtotal
|
|
|
134
|
|
|
|
1,854
|
|
|
|
1,820
|
|
|
|
55
|
|
|
|
Revolving line of credit
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Yutaka Niihara (2)
|
|
5.25%
|
|
|
12/27/2019
|
|
Due on Demand
|
|
|
800
|
|
|
|
800
|
|
|
|
200
|
|
|
|
37
|
|
|
|
|
|
|
|
|
|
|
|
|
Subtotal
|
|
|
800
|
|
|
|
800
|
|
|
|
200
|
|
|
|
37
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
|
|
$
|
934
|
|
|
$
|
2,654
|
|
|
$
|
2,020
|
|
|
$
|
92
|
|
|
|
(1)
|
Dr. Niihara, a Director and the Chairman, and Chief Executive Officer of the Company, is also a director and the Chief Executive Officer of Hope International Hospice, Inc.
|
|
(2)
|
Current or former officer.
|
See Notes 6 and 11 for a discussion of the Company’s agreements with Telcon, which holds 4,147,491 shares of the Company common stock, or approximately 8.4% of the common stock outstanding as of September 30, 2021. As of September 30, 2021, the Company held a Telcon convertible bond in the principal amount of approximately $25.7 million as discussed in Note 5.
|