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Related-Party Transactions

6 Months Ended

Jun. 30, 2015

12. 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 such transactions during the six months ended June 30, 2015 and 2014 and the balances outstanding as of June 30, 2015 and December 31, 2014.

TRANSACTIONS	June 30, 2015		June 30, 2014
Purchases from HUK	$	5,530,600	$	6,523,700
Expense reimbursement including interest to HUK	$	464,600	$	548,100
Interest expense related to UBA convertible notes	$	45,100	$	45,100
Interest expenses related to Catamaran notes	$	33,100	$	14,800
Borrowing from Catamaran	$	500,000	$	1,000,000

ACCOUNT BALANCES	June 30, 2015		Dec 31, 2014
Accounts payable and accrued liability to HUK	$	1,369,600	$	1,802,300
Notes payable to Catamaran	$	1,571,800	$	1,038,700
Notes payable to UBA	$	3,634,000	$	3,588,900

- 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.

+ References + Details