XML 98 R20.htm IDEA: XBRL DOCUMENT v2.4.0.8
14. Related Party Transactions
 12 Months Ended
Dec. 31, 2013
Related Party Transactions [Abstract]  
Related Party Transactions

Amounts due to (due from) related parties at December 31, 2013 and 2012 were as follows:

 

    2013     2012  
       John C. Lawrence, president and chairman(1)   $ 15,549     $ 17,522  
                        Net related party liabilities   $ 15,549     $ 17,522  
                 

 

Transactions affecting the payable to Mr. Lawrence during 2013, 2012 and 2011 were as follows:

 

    2013     2012     2011  
Balance, beginning of year   $ 17,522     $ 47,843     $ 18,060  
Aircraft rental charges     65,502       74,490       86,058  
Payments and advances, net     (67,475 )     (104,811 )     (56,275 )
Balance, end of year   $ 15,549     $ 17,522     $ 47,843  

 

The Chairman of the audit committee and compensation committee received $36,000 in cash during 2013 for services performed. The Chairman of the audit committee and compensation committee and one other audit committee member received a total of $56,000 in cash during 2012 for services performed.

 

In addition to transactions described above, during 2013, 2012, and 2011, the Company had the following transactions with related parties:

 

●   During 2013, 2012, and 2011, the Company paid $81,642, $89,204, and $107,359, respectively, to a former director for development of Mexican mill sites and consulting fees.

 

●   A director of the Company acted on behalf of the Company as liaison to Mexican officials through 2011. During the year ended December 31, 2011, fees and expenses paid to this director were $37,083.

 

●   Royalty expense, based on sales of zeolite, of $52,576, $61,678, and $45,515, was incurred for the years ended December 31, 2013, 2012 and 2011, respectively, to a company controlled by the estate of Al Dugan, formerly a significant stockholder and the father of a former director.