Quarterly report pursuant to Section 13 or 15(d)

Note 10 - Related Party Transactions

v3.7.0.1
Note 10 - Related Party Transactions
3 Months Ended
Mar. 31, 2017
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
10.
      Related Party Transactions
 
In
June
 
2006,
the Company entered into a Development and Manufacturing Agreement (the “Agreement”) with Stellartech Research Corporation (“Stellartech”). The Agreement was amended on
October
 
4,
2007.
Under the Agreement, the Company agreed to purchase
300
generators manufactured by Stellartech. As of
March
31,
2017,
the Company has purchased
380
units. The price per unit is variable and dependent on the volume and timing of units ordered. In conjunction with the Agreement, Stellartech purchased
37,500
shares of Viveve, Inc.’s common stock. Under the Agreement, the Company paid Stellartech
$2,025,000
and
$1,215,000
for goods and services during the
three
months ended
March
31,
 
2017
and
2016,
respectively. The amounts due to Stellartech for accounts payable at
March
31,
2017
and
December
31,
2016
was
$665,000
and
$1,297,000,
respectively.