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Note 16 - Other Related Party Transactions
3 Months Ended
Mar. 31, 2018
Disclosure Text Block [Abstract]  
Note 16 - Other Related Party Transactions

NOTE 16 – OTHER RELATED PARTY TRANSACTIONS

 

On May 13, 2014, the Company granted a five-year stock option to Mr. O’Leary and Mr. Leibman each to purchase 151,115 shares of the Company’s common stock at an exercise price of $1.50 per share.

 

On October 31, 2017, Summer Northeast entered into a sublease agreement with PDS for office space located at 800 Bering Drive, Suite 250, Houston, Texas.   PDS is 100% owned by Mr. O’Leary. During the quarter ended March 31, 2018, the Company paid $12,325 related to the related party sublease.

 

In January 2018, Mr. Leibman provided aviation transportation and the Company paid $4,000 in fuel costs for purposes of a company off-site management meeting.