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Related Party Transactions
6 Months Ended
Jun. 30, 2011
Note 13 - Related Party Transactions

 

The Company provides cloud-managed video services (the “Video Services”) to a company in which one of our directors is an officer.  Management believes that such transactions contain terms that would have been obtained from unaffiliated third parties.

 

Related party Video Services revenue for the six months ended June 30, 2011 and 2010 were $161,000 and $159,000, respectively, and for the three months ended June 30, 2011 and 2010 were $81,000 and $82,000, respectively.  The accounts receivable for this company was $54,000 as of June 30, 2011.

 

Also, the Company receives financial advisory services from a firm where one of their principals is a shareholder of Glowpoint.  Management believes that such transactions contain terms that would have been obtained from unaffiliated third parties.

 

Related party financial advisory fees for the six months ended June 30, 2011 and 2010 were $72,000 and $210,000, respectively, and for the three months ended June 30, 2011 and 2010 were $36,000 and $0, respectively.  As of June 30, 2011, there was no accounts payable for this firm.