Laserfiche WebLink
II <br /> SFii I Services,Inc.and Subsidiaries,SFM Security Services,Inc., <br /> and Gaining Facilities Services,LLC <br /> Notes to the Consolidated Combined Financial Statements <br /> For the year ended December 31,2016 <br /> G. Related Party Transactions <br /> Due from related parties <br /> Due from related parties consist of a short term,non-interest bearing,and unsecured receivable <br /> to Companies under common control. <br /> Shareholder Loans <br /> Shareholder loans are short-term,non-interest bearing and unsecured. <br /> Management Fee <br /> The Parent Company receives compensation from the wholly owned subsidiaries and a related <br /> party for the general administration services performed. This fee is allocated proportionally <br /> 'based on sales. The management fees paid by the wholly owned subsidiaries to the parent have <br /> been eliminated in consolidation and the management fees paid by the related party have been <br /> eliminated in combination. <br /> Lease Commitment <br /> The Company leases its office and warehouse space in which it operates from a company that is <br /> wholly owned by a shareholder of the SFM Services, Inc. During the current year the lease <br /> expired and is on a month to month basis, maintaining the terms of the original agreement, <br /> which calls for minimum rental payments of$8,505,plus taxes and other fees. <br /> Additionally during the year the Company leased land from a company that is owned by the <br /> 4111 . <br /> shareholders of SFM Services, Inc. to store the Company's large equipment and trucks. The <br /> lease calls for minimum rental payments of$3,000,plus tax and other fees. <br /> • <br /> I <br /> i <br /> t <br /> 11 1 <br /> 0 <br /> 1115PM <br /> SeaVKES,me. <br />