RELATED PARTY TRANSACTIONS |
9 Months Ended |
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Sep. 30, 2018 | |
Related Party Transactions [Abstract] | |
RELATED PARTY TRANSACTIONS |
RELATED PARTY TRANSACTIONS
Consulting fees of approximately $0 were incurred during the three months and $27,000 during the nine months ended September 30, 2017, from IHS Global FZ LLC of which Company director Gary K Adams held the position of Chief Advisor – Chemicals until April 1, 2017.
Consulting fees of approximately $25,000 and $19,000 were incurred during the three months and $75,000 and $56,000 during the nine months ended September 30, 2018 and 2017, respectively, from our Executive Chairman, Nicholas Carter. Due to his history and experience with the Company and to provide continuity after his retirement, a three year consulting agreement was entered into with Mr. Carter in July 2015. In March 2018, a new consulting agreement was entered into with Mr. Carter effective through December 31, 2018, unless otherwise agreed by the Company and Mr. Carter.
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