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Related Party Transactions | 3 Months Ended
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Mar. 31, 2018
Related Party Transactions [Abstract] |
Related Party Transactions | NOTE D – RELATED PARTY TRANSACTIONS In December 2015, we entered into an asset acquisition agreement with Monaco Financial, LLC (“Monaco”) (See NOTE R in our Form 10-K filed with the Securities and Exchange Commission for the period ended December 31, 2017 for further information). We had accounts receivable with Monaco and related affiliates at March 31, 2018 of $480,955 and at December 31, 2017 of $183,453. We had general operating payables with Monaco at March 31, 2018 of $644,987 and at December 31 2017 of $508,802. See NOTE H for further debt commitments between the entities. Based on the economic substance of these business transactions, we consider Monaco Financial, LLC to be an affiliated company, thus a related party. We do not own any financial interest in Monaco. During the first part of 2018, we performed marine shipwreck search and recovery services for this related party and recognized revenue of $0.5 million. We also lease our corporate office space on an annually renewable basis from Monaco at $20,080 per month.

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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 850 -URI http://asc.fasb.org/topic&trid=2122745 + Details
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