XML 53 R18.htm IDEA: XBRL DOCUMENT v2.4.0.8
Note 12 - Transactions with Affiliates
9 Months Ended
Sep. 30, 2014
Related Party Transactions [Abstract]  
Related Party Transactions Disclosure [Text Block]

Note 12—Transactions with Affiliates


Prior to August 11, 2014, Alonso Ancira served on the Company’s Board of Directors as a non-employee director.  Mr. Ancira also serves on the Board of Directors of Mexicans & Americans Thinking Together Foundation, Inc. (the "Organization"), is the Chairman of the Board of Directors of MATT Inc., a principal stockholder of the Company and is the Chairman of the Board of Directors of Altos Hornos de Mexico, S.A.B. de C.V. (“AHMSA”), which owns MATT Inc. The Company has participated in several significant transactions with MATT Inc., the Organization and AHMSA.  See Note 7 – Long-term Debt, Note 10 – Stockholder’s Equity, and Note 11 – Warrants.  


John Abbott, the Company's former Chief Executive Officer and Chairman of the Board, has been a financial advisor to AHMSA. In connection with providing these services, AHMSA has been paying Mr. Abbott $30,000 per month.