NOTE 12 – RELATED PARTY TRANSACTIONS
Marcar Leasing Corporation (“Marcar”) is engaged in leasing machinery and vehicles to the public and the Company. Marcar is
owned by family members of the Company’s chairman. The terms of the leases are established based on the rates charged by independent leasing organizations and are believed to be more favorable than those generally available from independent
third parties. New leases between the Company and Marcar generally provide for equal monthly payments over 36 months or 48 months. During fiscal 2012 and 2011, the Company made lease payments to Marcar totaling $151,000 and $179,000, respectively.