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Related Parties

6 Months Ended

Jun. 30, 2019

Note 10. 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 June 30,				Six months ended June 30,
	2019		2018		2019		2018
Sales to related parties	$	1,624	$	1,184	$	3,984	$	2,137

Fees paid to directors and officers	$	1,013	$	801	$	1,822	$	1,628
Payments to other related parties	$	907	$	674	$	1,833	$	1,662

	June 30, 2019		December 31, 2018
Current Assets:
Due from VS	$	6,934	$	6,229
Due from other related parties		2,462		2,010
	$	9,396	$	8,239

Liabilities:
Due to related parties - current	$	4,335	$	1,500
Due to related parties - long term	$	611	$	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.

Ventana 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 June 30, 2019 and 2018 were $855 and $588, respectively. The Company’s sales to VS for the six months ended June 30, 2019 and 2018 were $1,525 and $1,214, respectively.

Payments to other related parties during three and six months ended June 30, 2019 and 2018 include the following:

	Three months ended June 30,				Six months ended June 30,
	2019		2018		2019		2018
Charitable contributions	$	178	$	296	$	605	$	567
Sales commissions	$	286	$	336	$	762	$	677

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