Annual report pursuant to Section 13 and 15(d)

RELATED PARTY TRANSACTIONS

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RELATED PARTY TRANSACTIONS
12 Months Ended
Dec. 31, 2017
RELATED PARTY TRANSACTIONS [Abstract]  
RELATED PARTY TRANSACTIONS
NOTE 21 – RELATED PARTY TRANSACTIONS

Consulting fees of approximately $27,000, $33,000 and $25,000 were incurred during 2017, 2016, and 2015, respectively from IHS Global FZ LLC of which Company Director Gary K. Adams holds the position of Chief Advisor – Chemicals until April 1, 2017.  At December 31, 2017, and 2016, we had no outstanding liability payable to IHS Global FZ LLC.

Consulting fees of approximately $74,000, $73,000 and $37,000 were incurred during 2017, 2016, and 2015, respectively, from Chairman of the Board, 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. At December 31, 2017, and 2016, we had no outstanding liability payable to Mr. Carter.