NOTE 10 - RELATED PARTY TRANSACTIONS

12 Months Ended

Sep. 30, 2015

Revenues and expenses from transactions with related parties for the fiscal years ended September 30, 2015 and 2014 consisted of the following:

			For the period ended September 30,
Related Party's Name	Relationship	Description	2015	2014

Sequa Petroleum	Common Control	Seismic services revenue	1,741	-
Moby	Joint-venture	Marine base revenue*	-	468
Bolz	Common Control	Seismic services revenue	-	558
Sayat Media	Key management personnel	Revenue from agent for marine base services	374	-
Other revenue/ (expenses)		Other services	(38)	(68)
TOTAL			$ 2,077	$ 958

*Marine base service revenue recognized from MOBY for the period from October 1, 2013 to August 7, 2014 (acquisition date) is presented.

Accounts receivable from related parties as of September 30, 2015 and 2014 consisted of the following:

Related Party's Name	Description	September 30, 2015	September 30, 2014

Sequa Petroleum	Seismic services	$ 33	$ -
Demeu Energy	Advance given for vehicles delivery	185	275
Sayat Media	Receivable from agent for marine base services	104	-
Caspian Geo Consulting	Advance given for equipment delivery	185	165
	Allowance for doubtful accounts	(296)	(440)
TOTAL		$ 211	$ -

Accounts payable to related parties as of September 30, 2015 and 2014 consisted of the following:

Related Party's Name	Description	September 30, 2015	September 30, 2014

Sayat Media	Other services	$ 10	$ 13
Others	Others	49	63
TOTAL		$ 59	$ 76

Short-term notes from related parties as of September 30, 2015 and 2014 consisted of the following:

Related Party's Name	Description	September 30, 2015	September 30, 2014

Caspian Geo Consulting	Notes Receivable	$ 2,195	$ -
Sayat Media	Notes Receivable	-	70
TOTAL		$ 2,195	$ 70

Caspian Geo-Consulting Services LLP (“Caspian Geo”) – During the period from November 2014 to September 2015 CSG LLP and Tatarka provided financial assistance to Caspian Geo. Pursuant to the financial assistance agreements CSG LLP and Tatarka have provided loans to Caspian Geo in the amount of $2,195 as of September 30, 2015. The loans mature one year from issuance. It is normal practice in Kazakhstan not to charge a rate of interest on financial assistance loans, therefore the loans bear no interest except in the event of a default by Caspian Geo, in which case an 18% per annum default penalty may be applied. Subsequent to fiscal 2015 the Company entered into an agreement with Caspian Geo, to consolidate the loans into a single US dollar denominated amount. The agreement provides for a minimum monthly payment and provides that the any unpaid outstanding balance shall be repaid in full by no later than December 30, 2016. For additional information, please, refer to Note 13.

Sayat Media – On September 9, 2014 Balykshi entered into loan agreement with Sayat Media (a company related through Balykshi’s management). Pursuant to the loan agreement Balykshi provided a loan to Sayat Media in the amount of $70. The note receivable bears interest at 5.5% per annum and matures in one year. This loan was fully repaid on November 10, 2014.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References + Details

CASPIAN SERVICES INC 10-K