Quarterly report pursuant to Section 13 or 15(d)

7. RELATED PARTIES

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7. RELATED PARTIES
 6 Months Ended
Jun. 30, 2015
Related Party Transactions [Abstract]  
RELATED PARTIES

For the three and six months ended June 30, 2015 and 2014, the Company recognized sales to the following related parties:

 

        Three months ended June 30,     Six months ended June 30,  
Party   Relationship   2015     2014     2015     2014  
                             
HempMeds PX   80% owned by MJNA   $ –     $ 2,510,066     $ –     $ 5,388,179  
        $ –     $ 2,510,066     $ –     $ 5,388,179  
                                     
          0.0%       83.5%       0.0%       95.6%  

 

During 2014, the Company discontinued sales to HempMeds PX (Note 12).

 

During the three and six months ended June 30, 2015, the Company paid $1,434,050 and $2,976,463, respectively, to a stockholder of the Company who is a supplier of hemp oil and hemp to the Company. During the three and six months ended June 30, 2014, the Company paid $1,662,717 and $2,737,624, respectively, to a stockholder of the Company who is a supplier of hemp oil and hemp to the Company.