Annual report pursuant to Section 13 and 15(d)

Subsequent events

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Subsequent events
12 Months Ended
Dec. 31, 2022
Subsequent Events [Abstract]  
Subsequent events

Note 23 – Subsequent events

 

Subsequent to year end, on January 10, 2023, the Company received the 2022 annual installment payment of $117,000. Three additional $117,000 annual installment payments are due in 2023, 2024, and 2025. The Company has retained its impairment reserves and recorded losses on investment due to a history of uncertain payments. See Note 3.

 

Subsequent to year end, on January 20, 2023, the Company and NeuCourt entered into a SAFE Purchase Agreement by which the Company invested an additional $10,000 in the form of a NeuCourt Simple Agreement for Future Equity (“SAFE”), a security providing for conversion of the SAFE into shares of NeuCourt common or preferred stock at some future date under the same terms as the previous July 15, 2022 SAFE Purchase Agreement between NeuCourt and the Company. As of January 20, 2023, the Company owned SAFEs in the aggregate face amount of $93,756. See Note 7.