XML 38 R17.htm IDEA: XBRL DOCUMENT v3.20.1
Note 11 - Related Party Transactions
12 Months Ended
Dec. 31, 2019
Notes to Financial Statements  
Related Party Transactions Disclosure [Text Block]
NOTE
11
.
RELATED PARTY
TRANSACTIONS
 
During the years ended
December 31, 2019 
and
2018,
agent commissions resulting from merchant processing of approximately
$
72,000
were paid to Prime Portfolios, LLC, an entity owned by Oleg Firer, our Chairman and CEO, and Steven Wolberg, our Chief Legal Officer. In addition, key members of management owned companies and certain employees received similar commissions and/or reimbursement for equipment purchased on the company’s behalf, amounted to approximately $
742,000
 and
$739,000
for the years ended
December 31, 2019 
and
2018,
respectively. 
 
At
December 31, 2019 
and
2018,
we had accrued expenses of approximately
$127,000
 and
$388,000,
respectively, which consisted primarily of various travel, professional fees, and other expenses paid and charged for by our CEO on his personal credit cards. This is reflected as due to
related party
on the accompanying consolidated balance sheets.