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Related-Party Transactions
3 Months Ended
Mar. 31, 2012
Related-Party Transactions Disclosure [Abstract]  
Related Party Transactions Disclosure [Text Block]
9. Related-Party Transactions

 

The Company and its subsidiaries have entered into several agreements with affiliated and related entities, including, but not limited to, a Market Development Agreement, a Distribution Agreement, and a Brewing License Agreement between MBC and KBEL; a Distribution Agreement between UBIUK and KBEL; a Trademark Licensing Agreement between MBC and Kingfisher of America, Inc.; and a License Agreement between UBIUK and UBHL. KBEL is a party to a brewing agreement and a loan agreement with Shepherd Neame. Additional information about these transactions may be found in the Company's annual report on Form 10-K for the year ended December 31, 2011.

 

The following table reflects the value of the transactions for the quarters ended March 31, 2012 and 2011 and the balances outstanding as of March 31, 2012 and 2011.

 

TRANSACTIONS   2012     2011  
Sales to Shepherd Neame   $ 930,100     $ 1,246,600  
Purchases from Shepherd Neame   $ 3,898,400     $ 3,859,400  
Expense reimbursement to Shepherd Neame   $ 267,800     $ 269,000  
Interest expense related to UBA convertible notes   $ 22,700     $ 22,400  

 

ACCOUNT BALANCES   Mar 31, 2012     Dec 31, 2011  
Accounts payable to Shepherd Neame   $ 4,462,700     $ 4,856,900  
Accounts receivable and prepayments - Shepherd Neame   $ 524,100     $ 344,700