XML 28 R15.htm IDEA: XBRL DOCUMENT v3.19.1
Related Party Transactions
12 Months Ended
Dec. 31, 2018
Related Party Transactions [Abstract]  
Related Party Transactions
Related Party Transactions
  
Louis Hoch
 
During the year ended December 31, 2018 and 2017, the Company purchased $9,476 and $1,826, respectively, of corporate imprinted sportswear, promotional items and caps from Angry Pug Sportswear. Louis Hoch, the Company’s President and Chief Executive Officer is a 50% owner of Angry Pug Sportswear.
 
Miguel Chapa
 
During the year ended December 31, 2018 and 2017, the Company received $31,234 and $29,555 in revenue from Lush Rooftop. Miguel Chapa, a member of our Board of Directors, is an owner in Lush Rooftop. Louis Hoch, the Company’s President and Chief Executive Officer, is also a minority owner in Lush Rooftop.

During the year ended December 31, 2018, the Company received $31,234 in revenue from BLVD Bar and Lounge. Miguel Chapa, a member of our Board of Directors, is an owner in BLVD Bar and Lounge. Louis Hoch, the Company’s President and Chief Executive Officer, is also an owner in BLVD Bar and Lounge. As of December 31, 2018, the Company had a receivable of $12,485 from BLVD, of which $10,236 was 90 days past due.

Officers and Directors

On January 8 and 9, 2018, the Company repurchased 397,845 shares in a private transaction at the closing price on January 8, 2018 and January 9, 2018 from officers, employees and directors to cover the respective employees', officers' and directors' share of taxes for shares that vested on that day, as approved by the Audit Committee and the Board of Directors on the same day, with the respective officers and directors recusing themselves. The value of the treasury shares purchased to cover the taxes was $956,128. The share buyback included share purchases for Chairman of the Board, Michael Long, President and Chief Executive Officer, Louis Hoch, and Chief Financial Officer, Tom Jewell, as approved by the Audit Committee of the Board of Directors and the Board of Directors as of January 9, 2018.

On January 6, 2019, the Company repurchased 11,860 shares for $21,822 in a private transaction at the closing price on January 6, 2019 from employees to cover the respective employee's share of taxes for shares that vested on that day for Tom Jewell, Chief Financial Officer.