Related Party Transactions

6 Months Ended

Jun. 30, 2017

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^® and CMT) and of J-t Enterprises of Melrose, Inc., an exporter. His affiliated companies purchased $335,351 and $331,946 of products from ImmuCell during the six-month periods ended June 30, 2017 and 2016, respectively, on terms consistent with those offered to other distributors of similar status. We made marketing-related payments of $2,193 and $1,950 to these affiliate companies during the six-month periods ended June 30, 2017 and 2016, respectively, that were expensed as incurred. Our accounts receivable (subject to standard and customary payment terms) due from these affiliated companies aggregated $444 and $3,221 as of June 30, 2017 and December 31, 2016, respectively.