Annual report pursuant to Section 13 and 15(d)

Related Party Transactions

v3.20.4
Related Party Transactions
12 Months Ended
Dec. 31, 2020
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

 

NOTE 17 – RELATED PARTY TRANSACTIONS

 

On May 24, 2019, Crestview Partners purchased 20,000 shares of Series A preferred stock for a total payment of $20,000. Along with the Series A preferred stock, Crestview received 1,066,666 initial warrants with the right to receive additional warrants. During the year ended December 31, 2020, Crestview received 711,112 additional warrants.

 

On April 1, 2020, Crestview Partners purchased 11,500 shares of Series B preferred stock for a total payment of $11,500. The TCW Group, Inc. purchased 6,500 shares of Series B preferred stock for a total payment of $6,500 and David Matlin, a member of the Company’s Board of Directors, purchased 1,878 shares of Series B preferred stock for a total payment of $1,878.