RELATED PARTY TRANSACTIONS

3 Months Ended

Mar. 31, 2016

NOTE 10 - RELATED PARTY TRANSACTIONS

The president of one of the Company’s subsidiaries is part owner of one of the subsidiary’s vendors. During the three-month periods ended March 31, 2016 and 2015, the Company purchased approximately $166,000 and $181,000, respectively, of product from this vendor. At March 31, 2016 and December 31, 2015, the Company had trade payables to this vendor of $44,000 and $63,000, respectively. Additionally, during the three-month periods ended March 31, 2016 and 2015, the Company recorded sales to this vendor of $3,000 and $2,000, respectively.

- 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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