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Related Parties
12 Months Ended
Dec. 31, 2014
Related Party Transactions [Abstract]  
Related Parties

NOTE 18 - RELATED PARTIES

 

Notes payable to Former Shareholders of ACC

 

Promissory notes were issued in May 2008 in connection with the acquisition of ACC, a company acquired and subsequently sold by the Company. The total balance of the Amended Subordinated Contingent Notes at December 31, 2013 was $2.3 million. As disclosed in Note 10 above, on April 7, 2014, the Company repaid the final outstanding balance due under the terms of the Amended Subordinated Contingent Notes. There were no penalties or settlement discount arising from redeeming the promissory notes ahead of schedule.

 

Other related parties

 

There are no guarantees by, fees paid to, or loans to or from officers or directors of the Company other than the compensation disclosed in Part III of this Report.