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RELATED PARTY TRANSACTIONS
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3 Months Ended |
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Mar. 31, 2014
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| RELATED PARTY TRANSACTIONS [Abstract] | |
| RELATED PARTY TRANSACTIONS |
14. RELATED PARTY TRANSACTIONS
Legal fees of approximately $46,000 and $27,000 were incurred during the three months ended March 31, 2014, and 2013, respectively, to the law firm of Germer Gertz, LLP of which Charles W. Goehringer, Jr. is a minority partner. Mr. Goehringer acts as corporate counsel for the Company.
Ghazi Sultan, a Company director, was paid $35,000 during the three months ended March 31, 2014, and 2013, for serving as the Company’s Saudi branch representative.
Consulting fees of approximately $21,000 and $20,000 were incurred during the three months ended March 31, 2014, and 2013, respectively, from IHS Global FZ LLC of which Company Director Gary K. Adams holds the position of Chief Advisor – Chemicals.
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- Details
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- Definition
The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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