Quarterly report pursuant to Section 13 or 15(d)

Tess Related Party Transactions

v3.19.2
Tess Related Party Transactions
6 Months Ended
Jun. 30, 2019
Related Party Transactions [Abstract]  
Tess Related Party Transactions

Note 14.  Tess Related Party Transactions:

 

Tess related parties include: Powercases Inc., and 2227470 Ontario Inc., (companies that are wholly-owned by Jeffrey Mason, President and Chief Executive Officer of Tess), 1038088 Ontario Limited (a company that is wholly-owned by Fraser Mason, Chairman and Chief Financial Officer of Tess), and JLM Strategic Marketing (a proprietorship owned by Jennifer Mason, Manager Corporate Communications of Tess).

 

The following table provides the total amount of transactions that have been entered into with Tess related parties and outstanding balances with Tess related parties as of and for the periods identified:

 

    Period Ended
Services to Tess provided by (1):   June 30, 2019   June 30, 2018
Powercases Inc.   $ 231,328     $ 379,385  
JLM Strategic Marketing   $ —       $ 267,304  
1038088 Ontario Limited   $ 45,062     $ 110,123  
                 
Payable to:     June 30, 2019
      December 31, 2018  
Powercases Inc.   $ —       $ 37,250  
JLM Strategic Marketing   $ —       $ 9,483  
1038088 Ontario Limited   $ —       $ 52,053  

 

(1) - 2019 amounts provided by related parties are up to the date of de-consolidation.

 

During the period ended June 30, 2019 (up to the point of de-consolidation) and six months ended June 30, 2018, included in Tess's recorded services from related parties was approximately $260,000 and $180,000, respectively for Tess's key management personnel salaries.