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 September 30, 2020, none of the warrants remain outstanding. As of September 30, 2020, Dialog owns approximately 4.0% of the Company’s outstanding common shares. The Company recorded $0 and $0 for the three months ended September 30, 2020 and 2019, respectively, and $0 and $7,100 for the nine months ended September 30, 2020 and 2019, respectively, in royalty revenue pursuant to the Strategic Alliance Agreement. Additionally, the Company recorded $0 and $0 in contract services revenue performed for Dialog during the three months ended September 30, 2020 and 2019, respectively, and $130,000 and $0 in contract services revenue performed for Dialog during the nine months ended September 30, 2020 and 2019, respectively. The Company recorded $0 and $0 in cost of services revenue associated with the contract services performed for Dialog during the three months ended September 30, 2020 and 2019, respectively, and $126,539 and $0 in cost of services revenue during the nine months ended September 30, 2020 and 2019, respectively.