RELATED PARTY TRANSACTIONS
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9 Months Ended | ||
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Sep. 30, 2012
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RELATED PARTY TRANSACTIONS [Abstract] | |||
RELATED PARTY TRANSACTIONS |
Legal fees of approximately $65,000 and $44,000 were incurred during the three months and $173,000 and $187,000 during the nine months ended September 30, 2012, and 2011, 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 and $35,000 during the three months and $104,000 and $76,000 during the nine months ended September 30, 2012, and 2011, respectively for serving as the Company's Saudi branch representative.
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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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