Significant Related Party Transactions (Details Textual) |
3 Months Ended |
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Mar. 31, 2020 | |
WTL [Member] | |
Significant Related Party Transactions (Textual) | |
Short-term loan, description | Aerkomm Taiwan entered into a short-term loan agreement with WTL to draw down approximately $2.64 million (NTD 80,000,000) from the Loans (see Note 1) for working capital purposes. This short-term loan carries an annual interest rate of 5%. The Company repaid NTD 76,000,000 (approximately $2,500,000) of the outstanding loan amount prior to April 9, 2020. |
Related party transactions, description | The original loan amount was approximately $2.64M (NTD 80,000,000). The loan agreement will terminate on December 31, 2021. The Company has repaid $2.53M (NTD 76,000,000) of the outstanding loan amount as of July 6, 2020. |
AATWIN [Member] | |
Significant Related Party Transactions (Textual) | |
Related party transactions, description | Represents payable to AATWN due to consulting agreement on January 1, 2019. The monthly consulting fee is EUR 15,120 (approximately $17,000) and will be expired December 31, 2021. |
Consulting agreement. description | Aircom entered a consulting agreement with AATWIN for the period between January 1, 2019 and December 31, 2021. Pursuant to the terms of this consulting agreement, Aircom pays AATWIN consulting fees of approximately $17,000 per month. |
Expired date | Dec. 31, 2021 |
Dmedia [Member] | |
Significant Related Party Transactions (Textual) | |
Related party transactions, description | Aerkomm had short-term loans from Dmedia with an annual interest rate of 3% for the period ended December 31, 2019. The Company repaid the short-term loan in full on July 1, 2019. |
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- Definition Date which lease or group of leases is set to expire, in CCYY-MM-DD format. No definition available.
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- Definition A description of the related party transaction, including transactions to which no amounts or nominal amounts were ascribed and such other information deemed necessary to an understanding of the effects of the transactions on the financial statements. Examples of common related party transactions are, sales, purchases and transfers of realty and personal property, services received or furnished, loans and leases to and from top management and affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Information about borrowings which initially required repayment in less than twelve months (or normal operating cycle, if longer) after its issuance and that does not otherwise qualify as long-term debt. It typically is comprised of borrowings under letters of credit, lines of credit, commercial paper, and notes payable of short duration. Disclosures include amounts of borrowings under each arrangement, description of underlying arrangements, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements such as the effects of refinancings and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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