RELATED PARTY TRANSACTIONS

9 Months Ended

Sep. 30, 2022

10.	RELATED PARTY TRANSACTIONS

Purchases from Carrier and its affiliates comprised 63% and 59% of all inventory purchases made during the quarters ended September 30, 2022 and 2021, respectively. Purchases from Carrier and its affiliates comprised 60% and 64% of all inventory purchases made during the nine months ended September 30, 2022 and 2021, respectively. At September 30, 2022 and December 31, 2021, approximately $167,000 and $90,000, respectively, was payable to Carrier and its affiliates, net of receivables. We also sell HVAC products to Carrier and its affiliates. Revenues in our condensed consolidated unaudited statements of income for the quarters and nine months ended September 30, 2022 and 2021 included approximately $26,000, $30,000, $76,000, and $86,000, respectively, of sales to Carrier and its affiliates. We believe these transactions are conducted on terms equivalent to an

arm’s-length

basis in the ordinary course of business.

A member of our Board of Directors is the Senior Chairman of Greenberg Traurig, P.A., which serves as our principal outside counsel for compliance and acquisition-related legal services. During the quarters and nine months ended September 30, 2022 and 2021, fees to this firm for services performed were $40, $83, $169, and $181, respectively. At September 30, 2022 and December 31, 2021, $37 and $34, respectively, was payable to this

firm.