Quarterly report pursuant to Section 13 or 15(d)

Investment in account receivable (Tables)

v3.23.2
Investment in account receivable (Tables)
 6 Months Ended
Jun. 30, 2023
Receivables [Abstract]  
Schedule of receivables with imputed interest

The investment in account receivable consists of the following at June 30, 2023 and December 31, 2022:

 

    June 30,
2023		     December 31,
2022		  
Face value*   $ 286,000     $ 403,600  
Unamortized discount     (71,684 )     (88,291 )
Net balance     214,316       315,309  
Current portion     -       -  
Long term portion   $ 214,316     $ 315,309  

 

* On January 10, 2023, the Company received the 2022 annual installment payment of $117,000. The Company applied the $117,000 to the face value of its investment in account receivable. Additionally, the Company reduced the face value of its investment in account receivable by an additional $100 per month for the six months ended June 30, 2023.