11. Related Party Transactions |
9 Months Ended |
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Sep. 30, 2016 | |
Related Party Transactions [Abstract] | |
11. Related Party Transactions |
During the three months ended September 30, 2016, the Company entered into a contract to purchase corn from Watermark Farms, Inc., a company owned jointly by one of the Company’s unaffiliated grain procurement agents and a director of the Company. The total delivered price of $128,063 is expected to be settled by the end of 2016. At September 30, 2016, there were no amounts payable by the Company under these arrangements.
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- References No definition available.
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- 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. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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