RELATED PARTY TRANSACTIONS |
6 Months Ended |
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Jun. 30, 2024 | |
| Related Party Transactions [Abstract] | |
| RELATED PARTY TRANSACTIONS |
NOTE 7 — RELATED PARTY TRANSACTIONS
Related Party Contractor Service Fees and Expenses
The Company entered into a one-year independent contractor agreement with Mr. Martin Houston, the Executive Chairman of the Board of Directors. The agreement is subject to annual renewal. Pursuant to the terms and conditions of this agreement, the Company paid Mr. Houston a monthly fee plus approved expenses. For the three and six months ended June 30, 2024, the Company paid Mr. Houston $200.0 thousand and $425.0 thousand, respectively, for contractor service fees and expenses. For each of the three and six months ended June 30, 2023, the Company paid Mr. Houston $220.0 thousand and $330.0 thousand for contractor service fees and expenses. As of June 30, 2024 and December 31, 2023, there were no balances due to Mr. Houston.
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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