Note 15 - Related Party Transactions |
6 Months Ended |
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Jun. 30, 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 Interim Chief Executive Officer, who personally guarantees the balance owed. As of June 30, 2025, the accounts payable due to related party includes amounts due to Mr. Phipps. Total related party payments due as of June 30, 2025 and December 31, 2024 were approximately $1,000 and $18,000, respectively. Those related party payables are non-interest bearing and due on demand.
During the six months ended June 30, 2025, the Company employed and paid wages to one employee related to Mr. Phipps and two employees related to Dr. Pamela Roberts, Progressive Care’s Chief Operating Officer.
During the six months ended June 30, 2025, the Company employed and paid wages to Lauren Sturges Fernandez, the spouse of the Company’s late Chief Executive Officer, Charles M. Fernandez, as Chief of Staff and Special Assistant to the Chairman of the Board.
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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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