XML 45 R17.htm IDEA: XBRL DOCUMENT

Related-Party Transactions

9 Months Ended

Sep. 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 nine months ended September 30, 2015 and 2014 and the balances outstanding as of September 30, 2015 and December 31, 2014.

	September 30, 2015		September 30, 2014
TRANSACTIONS
Purchases from HUK	$	8,239,200	$	9,886,800
Expense reimbursement including interest to HUK	$	715,200	$	853,600
Interest expense related to UBA convertible notes	$	68,100	$	68,100
Interest expenses related to Catamaran notes	$	56,700	$	26,700
Borrowing from Catamaran	$	1,000,000	$	1,000,000

	September 30, 2015		December 31, 2014
ACCOUNT BALANCES
Accounts payable and accrued liability to HUK	$	1,581,500	$	1,802,300
Notes payable to Catamaran	$	2,095,400	$	1,038,700
Notes payable to UBA	$	3,657,000	$	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