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Related Party Transactions
 3 Months Ended
Mar. 31, 2025
Related Party Transactions [Abstract]  
Related Party Transactions

Note 5 Related Party Transactions

 

TotalStone is party to an agreement with a related party, Brookstone Partners IAC (“Brookstone”), the Company’s majority shareholder. Pursuant to this agreement, Brookstone provides annual consulting services totaling $400.0 thousand. The agreement also provides for an additional management fee equal to 5% of earnings before interest, taxes, depreciation, and amortization (“EBITDA”) in excess of $4.0 million,  plus a special services fee in cash equal to two percent (2%) of total consideration of any acquisition of a majority of the equity interests of any entity. Amounts accrued for such consulting services totaled $351.0 thousand as of March 31, 2025 and December 31, 2024. The management fees expensed for the three months ended March 31, 2025 and 2024 were $100.0 thousand and included in selling, general and administrative expenses. 

 

Stream Finance, LLC, which serves as a creditor on TotalStone’s mezzanine term loan of $2.4 million and accrued interest of $302.0 thousand as of March 31, 2025, is managed by Brookstone.

 

On March 10, 2025, TotalStone paid Brookstone Partners IAC, Inc. $200,000 for financial advisory and related services with respect to Capstone’s capital raising transaction (the “Capstone Capital Raising Transaction”).