v3.19.1
Related Party Transactions
12 Months Ended
Dec. 31, 2018
Related Party Transactions [Abstract]  
Related Party Transactions

NOTE 20—RELATED PARTY TRANSACTIONS

During the years ended December 31, 2018 and 2017, the Company was engaged in non-arm’s length transactions, which were in the normal course of business and were measured at the exchange amount. Transactions included sales of products, purchases of inventory as well as general expenses, reimbursements and sales commissions incurred from related parties. The related parties involved in these transactions included the following:

Nirvana Corp. - This entity is controlled by a family member of the CEO of the Company and conducts business as a reseller of consumer electronic products.

Smash Technologies, LLC – This entity is controlled by a family member of the CEO of the Company and conducts business as a reseller of accessories.

Stamax Corp. – This entity is a predecessor entity of OneClick License and prior to October 1, 2017 was controlled by certain members of management.

OneClick License – Prior to October 1, 2017, this entity was controlled by certain members of management.  It is now a wholly-owned subsidiary of the Company.

OneClick International LLC – Prior to October 1, 2017, this entity was controlled by certain members of management.  It is now a wholly-owned subsidiary of the Company.

There are no long-term arrangements with any of the related parties. Pricing and other material payment terms are determined on a case by case basis. At December 31, 2018, there were no amounts outstanding to or from the above listed related parties.

Products and services sold by the Company to related parties for the years ended December 31, 2018 and 2017 were as follows (in thousands):

 

 

 

2018

 

 

2017

 

Nirvana Corp.

 

$

 

 

$

738

 

Smash Technologies LLC

 

 

1

 

 

 

37

 

Stamax Corp.

 

 

 

 

 

9

 

OneClick International LLC

 

 

 

 

 

160

 

OneClick License LLC

 

 

 

 

 

1,533

 

Total

 

$

1

 

 

$

2,477

 

 

Purchases from, or operating expenses paid to, related parties by the Company for the years ended December 31, 2018 and 2017 were as follows (in thousands):

 

 

 

2018

 

 

2017

 

Stamax Corp.

 

$

 

 

$

9

 

Nirvana Corp.

 

 

 

 

 

6

 

Smash Technologies LLC

 

 

459

 

 

 

149

 

OneClick International LLC

 

 

 

 

 

 

OneClick License LLC

 

 

 

 

 

 

Total

 

$

459

 

 

$

164