Related Party Transactions

3 Months Ended

Mar. 31, 2022

Related Party Transactions

Related Party Transactions

Note 11. Related Party Transactions

Related parties include Directors, Senior Management Officers, and shareholders, plus their immediate family, who own a 5% or greater ownership interest at the time of a transaction. Related parties also include GMG and its subsidiaries as a result of its interest in Refuel America, LLC, a consolidated entity of the Company.

The tables below presents the face amount of direct related party assets and liabilities and other transactions or conditions as of or during the periods indicated.

		March 31,		December 31,
		2022		2021
Assets:
Accounts receivable	(a)	$	424,150	$	461,674
Liabilities:
Accounts payable	(b) (c) (d)		597,544		552,042
Accrued interest payable	(f)		346,013		317,645
Long term accrued interest	(e)		2,160,219		2,070,324
Advance from related party	(f)		885,000		935,000
Junior promissory note	(e)		999,634		993,928
EntsorgaFin S.p.A Notes Payable	(h)		1,254,696		1,254,696
Other:
Line of credit guarantee	(g)		1,500,000		1,500,000

The table below presents direct related party expenses or transactions for the three months ended March 31, 2022 and 2021. Compensation and related costs for employees of the Company are excluded from the table below.

		2022		2021
MBT revenue	(b)		37,351		154,326
Operating expenses - MBT	(c)		—		26,819
Operating expenses - Selling, general and administrative	(b) (d)		—		18,750
Interest expense			107,541		101,462
Debt guarantee fees	(g)		16,875		16,875
Interest expense – EntsorgaFin	(h)		—		—

Summary notes:

a -	MBT Disposal Revenues	e -	Junior Promissory Note
b -	Distribution Agreement	f -	Advances from Related Parties
c -	Disposal costs	g -	Line of Credit
d -	Business Services Fees	h -	Claims by Related Party settled in Notes Payable – Note 5. Notes, Bonds, Debts and Borrowings.