Quarterly report pursuant to Section 13 or 15(d)

Note 2 - Summary of significant accounting policies: Investment in account receivable, net of discount (Policies)

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Note 2 - Summary of significant accounting policies: Investment in account receivable, net of discount (Policies)
9 Months Ended
Sep. 30, 2020
Policies  
Investment in account receivable, net of discount

Investment in account receivable, net of discount

 

On April 10, 2015, the Company entered into an exchange agreement whereby the Company received an investment in account receivable with annual installment payments of $117,000 through 2026. The investment is stated at face value, net of unamortized purchase discount. The discount is amortized to interest income over the term of the exchange agreement.