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Related Party Transactions
 6 Months Ended
Jun. 30, 2024
Related Party Transactions  
Related Party Transactions

Note 7 – 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, is also the Acting Chief Financial Officer of Qualstar. 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 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. 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:

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended June 30, 

​

 

2024

​

2023

​

    

Due from 

    

Due to

    

Due from 

    

Due to 

​

​

Qualstar

​

Qualstar

​

Qualstar

​

Qualstar

​

 

(in thousands)

Balance at April 1,

​

$

13

​

$

25

​

$

21

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to Qualstar by Interlink

​

 

104

​

​

—

​

​

209

​

​

—

Paid by Qualstar to Interlink

​

 

(101)

​

​

—

​

​

(144)

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to Interlink by Qualstar

​

 

—

​

​

37

​

​

—

​

​

31

Paid by Interlink to Qualstar

​

 

—

​

​

(51)

​

​

—

​

​

(22)

Balance at June 30,

​

$

16

​

$

11

​

$

86

​

$

9

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six months ended June 30, 

​

 

2024

​

2023

​

    

Due from 

    

Due to

    

Due from

    

Due to

​

​

Qualstar

​

Qualstar

​

Qualstar

​

Qualstar

​

 

(in thousands)

Balance at January 1,

​

$

1

​

$

32

​

$

6

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to Qualstar by Interlink

​

 

180

​

​

—

​

​

434

​

​

—

Paid by Qualstar to Interlink

​

 

(165)

​

​

—

​

​

(354)

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to Interlink by Qualstar

​

 

—

​

​

73

​

​

—

​

​

56

Paid by Interlink to Qualstar

​

 

—

​

​

(94)

​

​

—

​

​

(47)

Balance at June 30,

​

$

16

​

$

11

​

$

86

​

$

9

​

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. This agreement was terminated in April 2024. 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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​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Three months ended June 30, 

​

​

2024

​

2023

​

    

Due from 

    

Due to

    

Due from 

    

Due to 

​

​

BKF Capital

​

BKF Capital

​

BKF Capital

​

BKF Capital

​

​

(in thousands)

Balance at April 1,

​

$

1

​

$

—

​

$

17

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to BKF Capital by Interlink

​

 

2

​

​

—

​

​

10

​

​

—

Paid by BKF Capital to Interlink

​

 

(2)

​

​

—

​

​

(22)

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to Interlink by BKF Capital

​

 

—

​

​

19

​

​

—

​

​

30

Paid by Interlink to BKF Capital

​

 

—

​

​

(19)

​

​

—

​

​

(30)

Balance at June 30,

​

$

1

​

$

—

​

$

5

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Six months ended June 30, 

​

​

2024

​

2023

​

    

Due from 

    

Due to

    

Due from

    

Due to

​

​

BKF Capital

​

BKF Capital

​

BKF Capital

​

BKF Capital

​

​

(in thousands)

Balance at January 1,

​

$

2

​

$

—

​

$

2

​

$

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to BKF Capital by Interlink

​

 

4

​

​

—

​

​

33

​

​

—

Paid by BKF Capital to Interlink

​

 

(5)

​

​

—

​

​

(30)

​

​

—

​

​

​

​

​

​

​

​

​

​

​

​

​

Billed (or accrued) to Interlink by BKF Capital

​

 

—

​

​

75

​

​

—

​

​

80

Paid by Interlink to BKF Capital

​

 

—

​

​

(75)

​

​

—

​

​

(80)

Balance at June 30,

​

$

1

​

$

—

​

$

5

​

$

—

​