Note 7 – Related Party Transactions

In November 2016, the Company and Dialog entered into an alliance agreement for the manufacture, distribution and commercialization of products incorporating the Company’s wire-free charging technology (See Note 4 – Commitments and Contingencies, Strategic Alliance Agreement). On November 7, 2016 and June 28, 2017, the Company and Dialog entered into securities purchase agreements under which Dialog acquired a total of 1,739,691 shares and received warrants to purchase up to 1,417,565 shares. As of March 31, 2020, a total of 654,013 of the warrants remain outstanding. As of March 31, 2020, Dialog owns approximately 4.6% of the Company’s outstanding common shares and could potentially own approximately 6.2% of the Company’s outstanding common shares if it exercised all of its warrants for common shares. The Company recorded $0 and $7,100 in royalty revenue pursuant to the Strategic Alliance Agreement for the three months ended March 31, 2020 and 2019, respectively. Additionally, the Company recorded $40,625 and $0 in contract services revenue performed for Dialog during the three months ended March 31, 2020 and 2019, respectively. The Company recorded $39,544 and $0 in cost of services revenue associated with the contract services performed for Dialog during the three months ended March 31, 2020 and 2019, respectively.