Note 10 – 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 6 – 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 (See Note 7 – Stockholders’ Equity, Private Placements). As of December 31, 2019, a total of 654,013 of the warrants remain outstanding. Dialog presently owns approximately 5.2% of the Company’s outstanding common shares and could potentially own 7.1% of the Company’s outstanding common shares if it exercised all of its warrants for common shares. For the years ended December 31, 2019 and 2018, the Company paid $0 and $79,550, respectively, to Dialog for chip development costs incurred, which is recorded under research and development expense. Pursuant to the Strategic Alliance Agreement in Note 6 – Commitments and Contingencies, we recorded $7,100 and $5,773 in revenue for the years ended December 31, 2019 and 2018, respectively.