XML 26 R15.htm IDEA: XBRL DOCUMENT v3.24.1.u1
Note 8 - Related Party Transactions
 3 Months Ended
Mar. 31, 2024
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

8. RELATED PARTY TRANSACTIONS

 

Casey Crenshaw (our Chairman of the Board) is the beneficial owner of 50% of The Modern Group and is deemed to jointly control The Modern Group with family members.  The Company purchases supplies and services from subsidiaries of The Modern Group. In addition, the Company leases office space from The Modern Group. The Company had total purchases and lease payments of $0.1 million for both the three months ended March 31, 2024 and 2023. The Company had no sales to The Modern Group during the three months ended March 31, 2024 and 2023. As of  March 31, 2024 and December 31, 2023, the Company had no accounts receivable due from The Modern Group and accounts payable due to the Modern Group were immaterial.

 

Chart Energy and Chemicals, Inc. ("Chart E&C") beneficially owns 7.9% of our outstanding common stock at March 31, 2024. The Company made purchases from Chart E&C of $0.1 million for the three months ended March 31, 2024 and made no purchases for the three months ended March 31, 2023. The Company had no sales during the three months ended March 31, 2024 and 2023 and no accounts receivable due from Chart E&C at March 31, 2024 and December 31, 2023. Accounts payable due to Chart E&C at  March 31, 2024 and December 31, 2023 were immaterial.