Annual report pursuant to Section 13 and 15(d)

Related Party Transactions (Notes)

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Related Party Transactions (Notes)
12 Months Ended
Sep. 30, 2016
Related Party Transactions [Abstract]  
Related Party Transactions
Related Party Transactions

Parties are considered to be related if one party has the ability, directly or indirectly, to control the other party or exercise significant influence over the other party in making financial and operating decisions. Parties are also considered to be related if they are subject to common control or significant influence, such as a family member or relative, stockholder, or a related corporation.

In the fourth quarter of 2015, the Company deconsolidated Kingstone, reducing its ownership to
15% of Kingstone Hong Kong , the Hong Kong holding company. Upon the deconsolidation, Kingstone became a related party of the Company. Based on the terms of the transaction agreements in the second quarter of 2016, the Company received a payment of $4.9 million from Kingstone for its exclusive sale and service rights in the solar ion implant equipment. The Company recognized a gain on the sale of $2.6 million for the year ended September 30, 2016, which is included in our Consolidated Statement of Operations in Gain on sale of other assets. At September 30, 2016, the Company's related accounts receivable due from Kingstone were $0.3 million, which are included in Accounts Receivable on the Consolidated Balance Sheet.

As of September 30, 2016, SoLayTec has borrowed approximately $1.1 million from its shareholder, TNO Technostarters B.V.. The loans have varying interest rates from 9.5% to 12.5% and matures in 2021.