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Note 11 - Related Party Transactions

9 Months Ended

Sep. 30, 2015

11.

Related Party Transactions

The Company has entered into several lease agreements with an officer of the Company, whereby pursuant to the lease agreements, the Company is provided the use of storage space. For the three months ended September 30, 2015 and 2014, the Company incurred approximately $11,000 and $10,000, respectively, of expenses relating to the agreements. For the nine months ended September 30, 2015 and 2014, the Company incurred approximately $32,000 and $27,000, respectively, of expenses relating to the agreements. These expenses were included in general and administrative expenses in the accompanying consolidated statements of operations.

- 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.

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