6. Accounts Receivable and Due to Factor

6 Months Ended

Jun. 30, 2020

Accounts Receivable, after Allowance for Credit Loss [Abstract]

Accounts Receivable and Due to Factor

Factoring fees paid by the Company for the three and six month periods ended June 30, 2020 were $1,399 (2019: $1,424) and $3,391 (2019: $3,370), respectively. For the three and six month periods ended June 30, 2020, net accounts receivable of approximately $70,000 (2019: $71,000) and $170,000 (2019: $168,000), resepectively, were sold under the agreement with the factor.

We present the receivables, net of allowances, as current assets and we present the amount potentially due to the Factor as secured financing in current liablities.

Accounts Receivble	June 30, 2020		December 31, 2019
Accounts receivable - non factored	$	222,144	$	273,573
Accounts receivable - factored with recourse		11,492		10,880
Accounts receivable - net	$	233,636	$	284,453