Related Party Transactions

3 Months Ended

Mar. 31, 2018

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 (the First Defense^{^®} product line and CMT) and of J-t Enterprises of Melrose, Inc., an exporter. His affiliated companies purchased $209,633 and $196,708 of products from ImmuCell during the three-month periods ended March 31, 2018 and 2017, respectively, on terms consistent with those offered to other distributors of similar status. We made marketing-related payments of $10,383 and $1,177 to these affiliated companies during the three-month periods ended March 31, 2018 and 2017, respectively, that were expensed as incurred. Our accounts receivable (subject to standard and customary payment terms) due from these affiliated companies aggregated $56,588 and $14,176 as of March 31, 2018 and December 31, 2017, respectively.