Annual report pursuant to Section 13 and 15(d)

Trade Receivables - Related Party

v3.8.0.1
Trade Receivables - Related Party
12 Months Ended
Dec. 31, 2017
Receivables [Abstract]  
Trade Receivables - Related Party

Note 6 - Trade Receivables – Related Party

 

Trade receivables – related party are made up of amounts due from Hainan Savy Akers Biosciences Ltd (“Hainan”), a joint venture between Akers, Thomas Knox, Akers’ former Board Chairman, and Hainan Savy Investment Management Ltd, located in the People’s Republic of China. The Company holds a 19.9% position in the joint venture. The amount due is non-interest bearing, unsecured and generally has a term of 30-90 days (Note 16). Credit terms of 180 days were extended to Hainan for a bulk purchase of BreathScan Breath Alcohol detectors during June 2017 while Hainan expands their market presence in the People’s Republic of China.