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Note 9 - Related Party Transactions
 9 Months Ended
Sep. 30, 2024
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]

9. 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 $0.2 million and $0.4 million for the nine months ended September 30, 2024 and 2023, respectively. The Company had total purchases and lease payments of $0.1 million and $0.2 million for the three months ended  September 30, 2024 and 2023, respectively. The Company had no sales to The Modern Group during the nine months ended September 30, 2024 and 2023. As of  September 30, 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 September 30, 2024. The Company made purchases from Chart E&C of $0.4 million and $22 thousand for the nine months ended September 30, 2024 and 2023, respectively.  The Company made purchases from Chart E&C of $5 thousand and $11 thousand for the three months ended  September 30, 2024 and 2023, respectively. The Company had no sales to Chart E&C during the nine months ended September 30, 2024 and 2023 and no accounts receivable due from Chart E&C at September 30, 2024 and December 31, 2023. The Company had an immaterial amount of accounts payable due to Chart E&C at September 30, 2024 and at December 31, 2023.