Quarterly report pursuant to Section 13 or 15(d)

Trade Receivables - Related Parties

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Trade Receivables - Related Parties
9 Months Ended
Sep. 30, 2017
Receivables [Abstract]  
Trade Receivables - Related Parties

Note 5 - Trade Receivables – Related Parties

 

Trade receivables – related parties are made up of amounts due from related parties of 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 14). 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.