Note 3 - Related Parties

3 Months Ended

Mar. 31, 2020

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

3.

Related Parties

The following summarizes our related party activities with Nutracom and a significant distributor of the Company. 

	March 31		December 31
Assets and liabilities - related parties	2020		2019
Notes & accounts receivables and deposits - current
Deposits with Nutracom for inventory	$	887,887	$	941,154
Note receivable - distributor		132,598		130,629
Note receivable - Nutracom unsecured DTD 6/1/2019		19,904		-
Note receivable - Nutracom unsecured DTD 10/1/2019		12,398		-
Other miscellaneous receivables		38,460		27,445
	$	1,091,247	$	1,099,228
Notes & accounts receivables - non-current
Note receivable - distributor	$	1,117,546	$	1,151,443
Note receivable - Nutracom unsecured DTD 6/1/2019		440,679		460,583
Note receivable - Nutracom unsecured DTD 10/1/2019		698,765		711,163
Unbilled receivables: Straight line rent revenue greater than rental billings		133,940		95,732
	$	2,390,930	$	2,418,921
Equity investment in Nutracom	$	505,000	$	505,000
Liability captions with Nutracom balances included therein
Trade accounts payable and other accrued expenses	$	459,978	$	430,907

The following table presents scheduled principal payments to be received on the distributor and Nutracom promissory notes receivable:

Remainder of 2020	$	98,701
2021		271,037
2022		288,294
2023		306,655
2024		326,190
Thereafter		1,131,013
	$	2,421,890

	Three months ended March 31
Revenue and expense - related parties	2020		2019
Other revenue	$	175,753	$	158,566
Selling, general and administrative expense:
Fullfillment & professional fees		159,984		151,102
Interest income on promissory notes		38,346		47,843
Royalty income (other income/expense)		13,872		-
Gain on sale of fixed assets		-		434,549
Finished goods inventory purchased from Nutracom	$	2,036,600	$	979,900

At

March 31, 2020,

we had

$1.01

million in commitments (net of deposits) to purchase finished goods inventory from Nutracom.

Supplementary Disclosure of Cash Flows Information

:

We incurred the following noncash investing and financing transactions on

January 1, 2019

relating to our transactions with Nutracom:

	2019
January 1, 2019
Sale of fixed assets	$	1,000,000
Sale of inventories		1,559,488
First year building rental received in advance		250,000
Acquire company common stock for treasury		540,144
Acquire equity investment in Nutracom		505,000
Secured promissory note received		1,000,000
Unsecured promissory note received		764,344