Related Parties |
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Related Party Transactions [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Related Parties | Related Parties The following is a summary of transactions and balances with related parties:
The nature of our related party transactions is as follows: •The Company sells units to an entity operated by a member of the board’s immediate family. This entity is also one of the Company’s Representatives and as such, the Company makes payments to the entity for third party products. •The Company purchases some supplies from entities controlled by two of the Company’s board members and a member of the Company's executive management team. •The Company periodically makes part sales and makes payments to a board member related to a consulting agreement. The consulting agreement expired in May 2024. •The Company periodically rents space partially owned a member of the board for various Company meetings. •The Company leases flight time of an aircraft partially owned by our President and CEO and another member of our senior leadership
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