Note 15 - Related Party Transactions |
3 Months Ended |
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Mar. 31, 2025 | |
| Notes to Financial Statements | |
| Related Party Transactions Disclosure [Text Block] |
Note 15. Related Party Transactions
The Company uses an American Express account for Orbital Satcom Corp and an American Express account for GTC, both in the name of David Phipps, the Company’s President and Chief Executive Officer of Global Operations, who personally guarantees the balance owed. As of March 31, 2025, the accounts payable due to related party includes amounts due to David Phipps. Total related party payments due as of March 31, 2025 and December 31, 2024 were approximately $1,800 and $18,000, respectively. Those related party payables are non-interest bearing and due on demand.
As of March 31, 2025, the Company employed and paid wages to Lauren Sturges Fernandez, the spouse of Mr. Fernandez, as Chief of Staff and Special Assistant to the Chairman of the Board, one employee related to Mr. Phipps, and two employees related to Dr. Pamela Roberts, Progressive Care’s Chief Operating Officer.
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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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