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Related-Party Transactions

3 Months Ended

Mar. 31, 2014

11. Related-Party Transactions

The Company conducts business with United Breweries of America, Inc. (“UBA”), which owns approximately 25% of the Company’s common stock. Until October 2013, KBEL had significant transactions with Shepherd Neame, Ltd., which is a related party with respect to a former Board member. KBEL also had significant transactions with HUK, a related party with respect to one of MBC’s Board members, beginning in October 2013.

The following table reflects the value of the transactions during the quarters ended March 31, 2014 and 2013 and the balances outstanding as of March 31, 2014 and December 31, 2013.

TRANSACTIONS	March 31, 2014		March 31, 2013
Sales to Shepherd Neame	$	-	$	704,800
Purchases from Shepherd Neame	$	-	$	3,213,600
Expense reimbursement to Shepherd Neame	$	-	$	252,500
Purchase from HUK	$	3,119,600	$	-
Expense reimbursement to HUK	$	243,700	$	-
Interest expense related to UBA convertible notes	$	22,400	$	22,400

ACCOUNT BALANCES	Mar 31, 2014		Dec 31, 2013
Accounts payable and accrued liability to Shepherd Neame	$	-	$	70,400
Accounts receivable and prepayments - Shepherd Neame	$	-	$	5,000
Accounts payable and accrued liability to HUK	$	1,626,500	$	1,746,800

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

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