Note 8 - Related Party Transactions

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note

8.

Related Party Transactions

Nikole Killough

During the year ended

December

31,

2016

and

2015,

the Company purchased

$2,250

and

$857,

respectively, of corporate imprinted sportswear, promotional items and caps from Angry Pug Sportswear. Nikole Killough (ex-wife of Louis Hoch) and Louis Hoch, the Company’s President and Chief Executive Officer are each

50%

owners of Angry Pug Sportswear.

Miguel Chapa

During the year ended

December

31,

2016

and

2015,

the Company received

$51,500

and

$20,901

in revenue from Club Rio Maroc Bar, Lush Rooftop, and Nirvana Bar and Rock. Miguel Chapa, a member of our Board of Directors, is an owner in Club Rio Maroc Bar, Lush Rooftop, and Nirvana Bar and Rock. Louis Hoch, the Company’s President and Chief Executive Officer, is also an owner in Lush Rooftop.

On

December

27,

2016,

the Company repurchased

246,717

shares in a private transaction at the closing price on

December

27,

2016

from employees and directors to cover the respective employees’ and directors’ share of taxes for shares that vested on that day, as approved by the Company’s Board of Directors and Company’s Audit Committee on the same day. The value of the treasury shares purchased to cover the taxes was

$431,755.