Blink Charging Co. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Related Parties

Related Parties	3 Months Ended
Mar. 31, 2015
Related Party Transactions [Abstract]
Related Parties	9. RELATED PARTIES The Company paid commissions to a company owned by its former CEO totaling $17,750 and $11,750 during the three months ended March 31, 2015 and 2014, respectively, for business development services relating to the installations of EV charging stations in accordance with the support services contract. These amounts are recorded as compensation in the condensed consolidated statements of operations. The Company incurred accounting and tax service fees totaling $7,182 and $1,428 for the three months ended March 31, 2015 and 2014, respectively, provided by a company that is partially owned by the Companys former Chief Financial Officer. This expense was recorded as general and administrative expense. The Company is licensing certain technology under terms of a patent licensing agreement with an entity (licensor) that is majority owned by the former CEO. The Company has agreed to pay royalties to the licensor equal to 10% of the gross profits received by the Company from bona fide commercial sales and/or uses of the licensed products and processes. As of March 31, 2015, the Company has not paid nor incurred any royalty fees related to this agreement.

Related Parties

3 Months Ended

Mar. 31, 2015

9. RELATED PARTIES

The Company paid commissions to a company owned by its former CEO totaling $17,750 and $11,750 during the three months ended March 31, 2015 and 2014, respectively, for business development services relating to the installations of EV charging stations in accordance with the support services contract. These amounts are recorded as compensation in the condensed consolidated statements of operations.

The Company incurred accounting and tax service fees totaling $7,182 and $1,428 for the three months ended March 31, 2015 and 2014, respectively, provided by a company that is partially owned by the Companys former Chief Financial Officer. This expense was recorded as general and administrative expense.

The Company is licensing certain technology under terms of a patent licensing agreement with an entity (licensor) that is majority owned by the former CEO. The Company has agreed to pay royalties to the licensor equal to 10% of the gross profits received by the Company from bona fide commercial sales and/or uses of the licensed products and processes. As of March 31, 2015, the Company has not paid nor incurred any royalty fees related to this agreement.

- 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