Annual report pursuant to Section 13 and 15(d)

Finance leases receivable (Tables)

v3.23.1
Finance leases receivable (Tables)
12 Months Ended
Dec. 31, 2022
Leases [Abstract]  
Schedule of net finance leases receivable, non-performing

Net finance leases receivable, non-performing, consists of the following at December 31, 2022 and 2021:

 

    2022     2021  
Gross minimum lease payments receivable   $ 1,203,404     $ 1,203,404  
Less: unearned interest     (400,005 )     (400,005 )
Less: reserve for bad debt     (803,399 )     (803,399 )
Finance leases receivable   $ -     $ -  
Schedule of net finance leases receivable, performing

Performing net finance leases receivable consists of the following at December 31, 2022 and 2021:

 

    2022     2021  
Gross minimum lease payments receivable   $ -     $ 367,505  
Accrued interest     -       1,783  
Less: unearned interest     -       (62,638 )
Finance leases receivable     -       306,650  
Less current portion     -       (76,727 )
Long term portion   $ -     $ 229,923