Note 15 - Related Party Transactions

9 Months Ended

Mar. 31, 2015

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

NOTE 15 – RELATED PARTY TRANSACTIONS

The Company entered into a license agreement, dated May 1, 2014 (the “License Agreement”) with BKF Capital Group, Inc. (“BKF”). Pursuant to the License Agreement, commencing on May 1, 2014, BKF shall have a license to occupy and use one furnished office, telephone and other services, located at Qualstar’s executive offices

. Pursuant to the License Agreement, BKF shall pay to Qualstar a license fee $1,200 per month. For the three months ended March 31, 2015 and nine months ended March 31, 2015, BFK paid $2,400 and $9,600 to Qualstar as license fees, respectively

. The License Agreement is no longer effective after the move to the new facilities in February 2015. Steven N. Bronson, the Company’s President and CEO, is also the Chairman, CEO and majority shareholder of BKF.

The Company has agreed to reimburse or to be reimbursed by Interlink Electronics, Inc. (“Interlink”), for IT, sales and marketing support and other expenses paid on behalf of the Company or Interlink. For the three months ended March 31, 2015 Interlink reimbursed the Company $7,000, net, and for the three months ended March 31, 2014 the Company reimbursed Interlink $45,000. For the nine months ended March 31, 2015 the Company reimbursed Interlink $22,000, net, and for the nine months ended March 31, 2014 the Company reimbursed Interlink $116,000. Steven N. Bronson is also the President and CEO and a majority shareholder of Interlink.