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Post# of 157299
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BoeingOrIAintGoing

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BoeingOrIAintGoing

Re: runandadd post# 150125

Friday, 02/21/2014 11:52:37 AM

Friday, February 21, 2014 11:52:37 AM

Post# of 157299
The accounts receivable from related party at September 30, 2013 reflects trade receivables from Global Telesat Communications, Ltd. (“GTCL”) of $20,359. GTCL is a related party based in the United Kingdom and controlled by a current officer of GTC. Total sales to GTCL for the three and nine-months ended September 30, 2013 were $95,641 and $391,646, respectively, and account for 47% and 33% of GTC's total sales for the respective periods. In 2012, GTC began charging a 10% handling fee on all GTCL orders.

95,641 / .47 = 203,491 for Q3
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