Quarterly report pursuant to Section 13 or 15(d)

Other Related Party Transactions

v3.19.3.a.u2
Other Related Party Transactions
9 Months Ended
Sep. 30, 2019
Related Party Transactions [Abstract]  
Other Related Party Transactions

Note 9– Other Related Party Transactions

 

Wilshire Energy Partners, LLC

 

Wilshire Energy Partners, LLC, is controlled by Kevin J. Sylla, our Executive Chairman and Chief Executive Officer of FPI, and has been determined to be a Related Party. During the nine months ended September 30, 2019 and 2018, Wilshire advanced the Company $0 and $181,083 for operating purposes and the Company repaid $22,287 and $43,176, respectively.

 

As of September 30, 2019, and December 31, 2018, total amount due to officers and directors were $1,164,606 and $687,770.