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Related Party Transactions
 12 Months Ended
Dec. 31, 2023
Related Party Transactions  
Related Party Transactions

Note 11 – Related Party Transactions

Qualstar Corporation (OTCMKTS:QBAK)

Qualstar Corporation (OTCMKTS:QBAK) (“Qualstar”) is a related party. Steven N. Bronson, our Chairman of the Board, President and Chief Executive Officer, is also the President, Chief Executive Officer and a director of Qualstar. Ryan J. Hoffman, our Chief Financial Officer, was also the Chief Financial Officer of Qualstar through August 2023. Mr. Bronson, together with BKF Capital Group, Inc. (OTCMKTS:BKFG) which he controls, has a controlling interest in both Interlink and Qualstar. We have a facilities agreement with Qualstar to allow Qualstar to use of a portion of our Irvine, California and Los Angeles, California office facilities, for which we have agreed to split substantially all rent and lease-related costs on an apportioned basis according to the approximate relative usage levels by each entity. Qualstar also has a facilities agreement with us to allow us to use of a portion of its Camarillo, California office and warehouse facility, for which we have agreed to split substantially all rent and lease-related costs on an apportioned basis according to the approximate relative usage levels by each entity. In addition, we have various consulting agreements with Qualstar for certain of our respective employees and/or independent contractors that provide certain operational, sales, marketing, general and administrative services to the other entity. Interlink and Qualstar also agree to reimburse, or be reimbursed by, one another for expenses paid by one company on behalf of the other. Transactions with Qualstar and its subsidiaries are as follows:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

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Year ended December 31, 

​

 

2023

​

2022

​

    

Due from Qualstar

    

Due to Qualstar

    

Due from Qualstar

    

Due to Qualstar

​

 

(in thousands)

Balance at January 1,

​

$

5

​

$

—

​

$

84

​

$

8

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to Qualstar by Interlink

​

 

760

​

 

—

​

 

798

​

 

—

Paid by Qualstar to Interlink

​

 

(763)

​

 

—

​

 

(877)

​

 

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to Interlink by Qualstar

​

 

—

​

 

132

​

 

—

​

 

96

Paid by Interlink to Qualstar

​

 

—

​

 

(100)

​

 

—

​

 

(104)

Balance at December 31,

​

$

2

​

$

32

​

$

5

​

$

—

​

BKF Capital Group, Inc. (OTCMKTS:BKFG)

BKF Capital Group, Inc. (OTCMKTS:BKFG) (“BKF Capital”) is a related party. Steven N. Bronson, our Chairman of the Board, President and Chief Executive Officer, is also the Chief Executive Officer and Chairman of BKF Capital. Ryan J. Hoffman, our Chief Financial Officer, is also the Chief Financial Officer of BKF Capital. Mr. Bronson, together with BKF Capital, has a controlling interest in Interlink. We have a facilities agreement with BKF Capital to allow BKF Capital to use a portion of our Irvine, California office facility, for which we have agreed to split substantially all rent and lease-related costs on an apportioned basis according to the approximate relative usage levels by each entity. In addition, we have consulting agreements with BKF Capital for certain of our respective employees and/or independent contractors that provide certain operational and general and administrative services to the other entity. We entered into a M&A advisory consulting services agreement with Bronson Financial LLC (“BF”), a wholly owned subsidiary of BKF Capital, pursuant to which BF provides M&A advisory consulting services to us. Interlink and BKF Capital also agree to reimburse, or be reimbursed by, one another for expenses paid by one company on behalf of the other. Transactions with BKF Capital and its subsidiaries are as follows:

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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Year ended December 31, 

​

​

2023

​

2022

​

    

Due from BKF Capital

    

Due to BKF Capital

    

Due from BKF Capital

    

Due to BKF Capital

​

 

​

(in thousands)

Balance at January 1,

​

$

2

​

$

—

​

$

12

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to BKF Capital by Interlink

​

 

43

​

 

—

​

 

104

​

 

—

Paid by BKF Capital to Interlink

​

 

(43)

​

 

—

​

 

(114)

​

 

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to Interlink by BKF Capital

​

 

—

​

 

193

​

 

—

​

 

147

Paid by Interlink to BKF Capital

​

 

—

​

 

(193)

​

 

—

​

 

(147)

Balance at December 31,

​

$

2

​

$

—

​

$

2

​

$

—

​