Annual report pursuant to Section 13 and 15(d)

Contractual interests in legal recovery (Tables)

v3.23.1
Contractual interests in legal recovery (Tables)
 12 Months Ended
Dec. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Schedule of interest in legal recovery carried at cost

The Company’s interest in the Electrum Partners, LLC legal recovery, carried at cost, at December 31, 2022 and 2021 is summarized as follows:

 

    2022     2021  
October 30, 2018 Recovery Purchase Agreement*   $ -     $ 196,666  
October 31, 2018 secured Capital Agreement*     -       100,000  
January 28, 2019 secured Capital Agreement*     -       100,000  
Total Invested   $ -     $ 396,666  

 

* On November 18, 2022, Electrum repaid $459,990 to the Company pursuant to a certain November 14, 2022 Settlement Agreement and Mutual Release, following the Company’s October 21, 2022 lawsuit against Electrum and the escrow agent. The Company applied $196,666 to the Recovery Purchase Agreement and $200,000 to the Capital Agreements. The remaining $63,324 was applied to the Company’s former equity interest in Electrum.