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RELATED PARTY TRANSACTIONS
 6 Months Ended
Jun. 30, 2016
RELATED PARTY TRANSACTIONS  
RELATED PARTY TRANSACTIONS

NOTE 7-RELATED PARTY TRANSACTIONS

 

BKF Capital Group - We entered into an agreement, dated March 1, 2015 (the “Agreement”) with BKF Capital Group, Inc. (“BKF”). Pursuant to the Agreement, commencing on March 1, 2015, BKF shall occupy and use one furnished office, telephone and other services, located at our corporate offices. Pursuant to the Agreement, BKF shall pay to the Company a fee of $1,000 per month. BKF paid $3,000 and $4,000 for the three months ended June 30, 2016 and 2015, respectively. BKF paid $6,000 and $4,000 for the six months ended June 30, 2016 and 2015, respectively Steven N. Bronson, our CEO and Chairman, is also the Chairman, CEO and majority shareholder of BKF.

 

Qualstar Corporation (QBAK)- The Company agreed to reimburse, or be reimbursed by, Qualstar Corporation (“Qualstar”) for our occupation and use of a portion of their Simi Valley manufacturing location and other expenses paid by or on behalf of our Company. Steven N. Bronson, our CEO and Chairman, is also the Chairman and CEO of Qualstar. Transactions with Qualstar are as follows:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Three months ended June 30, 

 

 

 

2016

 

2015

 

 

    

Due from Qualstar

    

Due to Qualstar

    

Due from Qualstar

    

Due to Qualstar

 

 

 

(in thousands)

 

Balance at March 31,

 

$

 —

 

$
4

 

$

 —

 

$
6

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Billed to Qualstar by Interlink

 

 
4

 

 

 —

 

 
1

 

 

 —

 

Paid by Qualstar to Interlink

 

 

 —

 

 

 —

 

 

 —

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Billed to Interlink by Qualstar

 

 

 —

 

 
9

 

 

 —

 

 
13

 

Paid by Interlink to Qualstar

 

 

 —

 

 
(10)

 

 

 —

 

 
(15)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at June 30, 

 

$
4

 

$
3

 

$
1

 

$
4

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Six months ended June 30, 

 

 

 

2016

 

2015

 

 

    

Due from Qualstar

    

Due to Qualstar

    

Due from Qualstar

    

Due to Qualstar

 

 

 

(in thousands)

 

Balance at January 1,

 

$

 —

 

$
6

 

$
5

 

$
2

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Billed to Qualstar by Interlink

 

 
6

 

 

 —

 

 
11

 

 

 —

 

Paid by Qualstar to Interlink

 

 
(2)

 

 

 —

 

 
(15)

 

 

 —

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Billed to Interlink by Qualstar

 

 

 —

 

 
20

 

 

 —

 

 
30

 

Paid by Interlink to Qualstar

 

 

 —

 

 
(23)

 

 

 —

 

 
(28)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance at June 30, 

 

$
4

 

$
3

 

$
1

 

$
4