Related Party Transactions

9 Months Ended

Sep. 30, 2016

17.

RELATED PARTY TRANSACTIONS

Dr. David S. Tomsche (Chair of our Board of Directors) is a controlling owner of Leedstone Inc. (formerly Stearns Veterinary Outlet, Inc.), a domestic distributor of ImmuCell products (First Defense^®, Wipe Out^® Dairy Wipes, and CMT) and of J-t Enterprises of Melrose, Inc., an exporter. His affiliated companies purchased $144,365 and $157,350 of products from ImmuCell during the three-month periods ended September 30, 2016 and 2015 and $476,311 and $452,207 of products from ImmuCell during the nine-month periods ended September 30, 2016 and 2015, respectively, on terms consistent with those offered to other distributors of similar status. We made marketing-related payments of $2,925 and $3,222 to these affiliated companies during the nine-month periods ended September 30, 2016 and 2015, respectively. Our accounts receivable (subject to standard and customary payment terms) due from these affiliated companies aggregated $65,484 and $36,528 as of September 30, 2016 and December 31, 2015, respectively.