Note 10 - Related Party Transactions

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

Note

10

-

Related Party Transactions

Stephen M. Merrick, Director, General Counsel and former Chief Executive Officer of the Company, was, until

2018,

of counsel to the law firm of Vanasco Genelly and Miller PC which used to provide legal services to the Company. Legal fees paid by the Company to this firm for the

three

months ended

March 31, 2019

and

2018,

respectively, were

none

and

$72,000.

John H. Schwan, through an investment entity, and Stephen M. Merrick, also through an investment entity own, in aggregate, a

50%

interest in Clever Container Company L.L.C., an Illinois limited liability company (“Clever Container”). During the

three

months ended

March 31, 2019

and

2018,

Clever Container purchased various products from the Company in the amount of

$62,000

and

$237,000,

respectively. As of

March 31, 2019

and

2018,

the balance of accounts receivable from Clever Container to the Company were

$1,373,000

and

$1,102,000,

respectively. The Company owns a

28.5%

interest in Clever Container, though has announced the intention to divest its interest in Clever Container, which has

not

been completed as of the filing of this report.