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RELATED PARTY TRANSACTIONS (Tables)
 3 Months Ended
Mar. 31, 2017
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions

Related party balances are as follows, in thousands:

 

 

 

 

 

 

 

 

 

 

 

2017

 

2016

K&R, LLC and 7100 LLC:

 

 

 

 

 

 

Deposit amounts owed to the Company by related parties

(1)

$ 

42

 

 

$ 

42

 

Note payable to related parties

(3)

 

1,504

 

 

 

1,504


Accrued interest to related parties

(2)

 

81

 

 

 

63

 

Facility rent payable to related parties

(2)

 

198


 

 

176

 

Equipment rent payable to related parties

(2)

 

15

 

 

 

15

 

Facility rent expense to related parties

(4)

 

161

 

 

 

161

 

Equipment rent expense to related parties

(4)


—




15


Interest expense to related parties 

(4)

  

19

      

—

  

 

 

 

 

 

 

 

Algar, Inc.:







Bonus payable to Algar

(2), (5)

$ 

—

 

 

 $

180

 

Revenue from scrap sales to Algar

(4), (6)

 

—

 

 

 

12

 

Revenue from logistical services to Algar

(4), (6)

 

—

 

 

 

27

 

Revenue from IT services to Algar

(4), (6)

 

—

 

 

 

7

 

Scrap material purchases from Algar

(4), (6)


—

 



391


Management fee expense

(4), (6)


—




63

 

Bonus expense to Algar

(4), (6)

 

—

 

 

 

100

 

Other expenses to Algar

(4), (6)


—

 



6


 

 

 

 

 

 

 

Board of Directors: *

 



 

Accounts payable to the Board of Directors for fees

(2)

$ 

139



$ 

144

 

Board of director fee expense

(4)

88

 



2


 



 

 

 

 

LK Property Investments, LLC:




 

Lease deposit to LK Property

(1)

$ 

3

 

 

$ 

3

 

Rent expense to LK Property**

(4)

 

9

 

 

 

9

 

 

 

 

 

 

 

 

Metal X, LLC:

 

 

 

 

 

 

Accounts receivable from Metal X

(1)

$ 

—

 

 

$ 

105

 

Revenue from product sales to Metal X

(4)

 

188

 

 

 

12

 

 

 

 

 

 

 

 

 

 

* Excludes insignificant amount of travel reimbursement.

 

**Excludes amounts reimbursed to LK Properties for utilities and property tax.

 

(1) Included in receivable from related parties on the Condensed Consolidated Balance Sheets; balances are as of March 31, 2017 and December 31, 2016.

(2) Included in payable to related parties on the Condensed Consolidated Balance Sheets; balances are as of March 31, 2017 and December 31, 2016.

(3) Included in long-term liabilities on the Condensed Consolidated Balance Sheets; balance is as of March 31, 2017 and December 31, 2016.

(4) Included in the Condensed Consolidated Statements of Operations; balances are for the three months ended March 31, 2017 and March 31, 2016.

(5) The 2016 balance includes the bonus payable amount at December 31, 2016 as this amount was earned on September 30, 2016 while Algar was a related party. The bonus payable was paid on March 31, 2017. 

(6) The Company excluded all 2017 balances related to Algar as the related party relationship ended on September 30, 2016.