PRIME ACQUISITION CORP | CIK:0001485922 | 3

  • Filed: 5/2/2018
  • Entity registrant name: PRIME ACQUISITION CORP (CIK: 0001485922)
  • Generator: Novaworks Software
  • SEC filing page: http://www.sec.gov/Archives/edgar/data/1485922/000168316818001159/0001683168-18-001159-index.htm
  • XBRL Instance: http://www.sec.gov/Archives/edgar/data/1485922/000168316818001159/pacqf-20171231.xml
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  • ifrs-full:DisclosureOfDepreciationAndAmortisationExpenseExplanatory

    Note 4 — Depreciation, Bad Debt and Other Provisions

     

    Details of depreciation and bad debt provision are as follows:

     

        2017     2016*     2015*  
    Depreciation of property and equipment   $ 3,574     $ 3,229     $ 3,160  
    Bad debt and other provisions     63,954             9,814  
    Total depreciation, bad debt and other provisions   $ 67,528     $ 3,229     $ 12,974  

     

    There was no provision for bad debt for the year ended December 31, 2016 due to the Group’s proactive cash collection policy during 2016.

     

    *   Restated for discontinued operations (see note 9 — Discontinued Operations)