Related Party Transactions

12 Months Ended

Jun. 30, 2017

NOTE 11 – Related Party Transactions

Everest Hill Group Inc.

Everest Hill Group Inc. (“Everest Hill Group”) is the controlling shareholder of ARC, owning approximately 49.9% of its shares outstanding as of June 30, 2017. Everest Hill Group also owns 100% of Quadrant Management Inc. (“QMI”), which indirectly owned 74% of the membership interests of Quadrant Metals Technologies LLC (“QMT”) prior to ARC’s acquisition of QMT in August 2012. ARC and QMI are under common control of Everest Hill Group.

In addition, the following individuals are also affiliated with QMI and Everest Hill Group:

Mr. Alan Quasha, the Company’s Chairman and an officer of QMI, and Mr. Jason Young, the Company’s former Chief Executive Officer, each served on the Board of Directors of QMT during fiscal 2016 and received fees for such services.

Mr. Eli Davidai, the Company’s General Manager of Operations as of May 2017, has been a Managing Director at QMI since 1992, where he is responsible for making investments and overseeing companies at the firm.