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Related Parties
 3 Months Ended
Mar. 31, 2019
Related Party Transactions [Abstract]  
Related Parties

Note 9. Related Parties

 

The following is a summary of assets, liabilities, and income and expense transactions with all related parties, shareholders, directors and managers:

 

    Three months ended March 31,  
    2019     2018  
Sales to related parties   $ 2,360     $ 953  
                 
Fees paid to directors and officers   $ 809     $ 827  
Payments to other related parties   $ 926     $ 988  

 

    March 31, 2019     December 31, 2018  
Current Assets:                
Due from VS   $ 6,592     $ 6,229  
Due from other related parties     2,904       2,010  
    $ 9,496     $ 8,239  
                 
Liabilities:                
Due to related parties – current   $ 1,621     $ 1,500  
Due to related parties – long term   $ 600     $ 600  

 

The Company also has a note payable which matures in 2022 related to the acquisition GM&P for $8,500 due to the former owner who holds shares of the Company and a management position within the Company.

 

Ventanas Solar S.A. (“VS”), a Panama Sociedad anónima, is an importer and installer of the Company’s products in Panama. Family members of the Company’s CEO and COO and other related parties own 100% of the equity in VS. The Company’s sales to VS for the three months ended March 31, 2019 and 2018 were $670 and $626, respectively.

 

Payments to other related parties during three ended March 31, 2019 and 2018 include the following:

 

    Three months ended March 31,  
    2019     2018  
Charitable contributions   $ 427     $ 285  
Sales commissions   $ 476     $ 494  

 

Charitable contributions are donations made to the Company’s foundation, Fundación Tecnoglass-ESW.