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Related Party Transactions
6 Months Ended
Jun. 30, 2020
Related Party Transactions [Abstract]  
Related Party Transactions

13. Related Party Transactions

Related party payables consisted of the following:

 

 

June 30,

 

 

December 31,

 

 

 

2020

 

 

2019

 

TriSource accrued earnout liability

 

$

2,250,000

 

 

$

2,250,000

 

APS Payments accrued earnout liability

 

 

5,000,000

 

 

 

12,250,000

 

Ventanex accrued earnout liability

 

 

10,800,000

 

 

 

-

 

Other payables to related parties

 

 

174,056

 

 

 

71,266

 

 

 

$

18,224,056

 

 

$

14,571,266

 

The Company paid management fees to Corsair, a related party having common ownership in the amount of $0.1 million and $0.2 million for the three and six months ended June 30, 2019, respectively, which are included in selling, general, and administrative expenses in the unaudited interim consolidated statement of operations.

The Company incurred transaction costs on behalf of related parties for the three and six months ended June 30, 2020 of $0.7 million and $1.2 million, respectively. The Predecessor incurred transaction costs on behalf of related parties for the three and six months ended June 30, 2019 of $0.0 million and $0.1 million, respectively.