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ASYS » Topics » 10. Related Party transactions

This excerpt taken from the ASYS 8-K filed Jul 30, 2009.

10. Related Party transactions

     The Company is controlled by Mr DI CESARE which owns 50.01% of the Company’s shares. The remaining 49.99% of the shares are owned by Mrs DI CESARE.

     The following transactions were carried out with related parties:

      (a)       Current account from related parties:
 
  Years Ended December 31,
  2006       2005
(in USD)           
Beginning balance  $ 27,274   $ 221,116  
Change in balance:     
     i. dividends declared  1,255,100     241,320  
     ii. dividends paid to shareholders    (418,321 )  (480,074 ) 
     iii. amounts received from shareholders  30,043     57,846  
USD translation difference    48,523     (12,933 ) 
Ending Balance  $ 942,619   $ 27,274  
Interests paid to related parties  $ 5,933   $ 3,176  

      (b)       Office rent from non-trading real estate investment company (“Société Civile Immobilière – SCI”) owned by the shareholders of the Company:
 
   Years Ended December 31, 
         2006         2005 
(in USD)     
Yearly rental  $35,732 $32,302
Rental charges  $  4,824 $  4,653

This excerpt taken from the ASYS 8-K filed Nov 2, 2007.

10. Related Party transactions

     The Company is controlled by Mr DI CESARE which owns 50.01% of the Company’s shares. The remaining 49.99% of the shares are owned by Mrs DI CESARE.

     The following transactions were carried out with related parties:

      (a)       Current account from related parties:
 
  Years Ended December 31,
  2006       2005
(in USD)           
Beginning balance  $ 27,274   $ 221,116  
Change in balance:     
     i. dividends declared  1,255,100     241,320  
     ii. dividends paid to shareholders    (418,321 )  (480,074 ) 
     iii. amounts received from shareholders  30,043     57,846  
USD translation difference    48,523     (12,933 ) 
Ending Balance  $ 942,619   $ 27,274  
Interests paid to related parties  $ 5,933   $ 3,176  

10


      (b)       Office rent from non-trading real estate investment company (“Société Civile Immobilière – SCI”) owned by the shareholders of the Company:
 
   Years Ended December 31, 
         2006         2005 
(in USD)     
Yearly rental  $35,732 $32,302
Rental charges  $  4,824 $  4,653

EXCERPTS ON THIS PAGE:

8-K
Jul 30, 2009
8-K
Nov 2, 2007

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