Related Party Disclosures

9 Months Ended

Sep. 30, 2015

Related Party Transactions [Abstract]

Related Party Transactions

Note 11 – Related Party Transactions:

Payments of $1,563,245 and $4,448,727 for the three and nine months ended September 30, 2015, were made to one stockholder for the purchase of raw materials. Payments of $1,279,523 and $3,492,783 for the three and nine months ended September 30, 2014, were made to one stockholder for the purchase of raw materials. In addition, there were payments of $2,415 and $161,627 for the three and nine months ended September 30, 2015, and $19,841 and $163,471 for the three and nine months ended September 30, 2014, related to rent and associated utilities and maintenance to a stockholder who was also a landlord of one of our locations. The rent and associated utilities and maintenance cost were at market rates.  As of September 30, 2015 the Company was no longer occupying the space, and as such, will no longer incur rent for this space.  None of the payments made above were to stockholders who are either an employee, board member, subsidiary, or affiliate of the Company.

Certain stockholders of the Company were guarantors of the $62.5 Million Revolver. Pursuant to a Fee and Reimbursement Agreement, the Company was to pay each such guarantor a contingent fee equal to 10% per annum of the amount that each guarantor had committed to guarantee. The $62.5 Million Revolver was repaid in connection with the IPO. See Note 8 for further detail.