RELATED PARTY TRANSACTIONS	12 Months Ended
Dec. 31, 2015
Notes to Financial Statements
NOTE 7 - RELATED PARTY TRANSACTIONS	Our subsidiary, Peekay Acquisition entered into an Advisory Agreement, dated December 31, 2012, with each of Christals Management, LLC, or Christals Management, a limited liability company owned 50% by an affiliate of Ellery W. Roberts and 50% by Edward J. Tobin, each directors of our company and CP IV SPV, LLC, or CP IV, an entity with which David Aho is affiliated, who is also a director of our company. Under the Advisory Agreement Peekay Acquisition pays annual compensation of $250,000 per year payable quarterly, to each of Christals Management and CP IV. The Company is a third party beneficiary to an agreement between CP IV SPV, LLC and K2 Principal Fund L.P., which contains certain prohibitions against the payment of the management fee unless certain operating criteria are met. On November 19, 2015, our subsidiary, Peekay Acquisition, entered into a termination agreement with our consultants, Christals Management, LLC and CP IV SPV, LLC. The termination agreement terminates the advisory agreement between these consultants and Peekay Acquisition, dated December 31, 2012, effective as of the closing of the Public Offering. Upon the closing of the Public Offering we will be required to pay the consultants all accrued, but unpaid, fees then owed to the consultants under the advisory agreement and to reimburse the consultants for any unreimbursed expenses through the date of the closing of the Public Offering. After the closing of the Public Offering, we will have no further obligations under the advisory agreement.

RELATED PARTY TRANSACTIONS

12 Months Ended

Dec. 31, 2015

Our subsidiary, Peekay Acquisition entered into an Advisory Agreement, dated December 31, 2012, with each of Christals Management, LLC, or Christals Management, a limited liability company owned 50% by an affiliate of Ellery W. Roberts and 50% by Edward J. Tobin, each directors of our company and CP IV SPV, LLC, or CP IV, an entity with which David Aho is affiliated, who is also a director of our company. Under the Advisory Agreement Peekay Acquisition pays annual compensation of $250,000 per year payable quarterly, to each of Christals Management and CP IV. The Company is a third party beneficiary to an agreement between CP IV SPV, LLC and K2 Principal Fund L.P., which contains certain prohibitions against the payment of the management fee unless certain operating criteria are met.

On November 19, 2015, our subsidiary, Peekay Acquisition, entered into a termination agreement with our consultants, Christals Management, LLC and CP IV SPV, LLC. The termination agreement terminates the advisory agreement between these consultants and Peekay Acquisition, dated December 31, 2012, effective as of the closing of the Public Offering. Upon the closing of the Public Offering we will be required to pay the consultants all accrued, but unpaid, fees then owed to the consultants under the advisory agreement and to reimburse the consultants for any unreimbursed expenses through the date of the closing of the Public Offering. After the closing of the Public Offering, we will have no further obligations under the advisory agreement.

- 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

Peekay Boutiques, Inc. 10-K