Note 11 - Related Party Transactions |
9 Months Ended |
|---|---|
Sep. 30, 2017 | |
| Notes to Financial Statements | |
| Related Party Transactions Disclosure [Text Block] |
11 . 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 September 30, 2017, the Company has purchased 465 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 $2,620,000 and $1,816,000 for goods and services during the three months ended September 30, 2017 and 2016, respectively, and $6,326,000 and $3,976,000 for the nine months ended September 30, 2017 and 2016, respectively The amounts due to Stellartech for accounts payable as of September 30, 2017 and December 31, 2016 were $781,000 and $1,297,000, respectively. In connection with the Distributorship Agreement entered into with ICM, the Company also entered into a Membership Unit Subscription Agreement with ICM and the Company invested
$2,500,000 in ICM (see Note 4 ). In conjunction with the Distributorship Agreement, the Company’s purchases of products from ICM has
not been material during the three and nine months ended September 30, 2017.
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