Quarterly report pursuant to Section 13 or 15(d)

Investment in account receivable (Tables)

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Investment in account receivable (Tables)
 3 Months Ended
Mar. 31, 2024
Receivables [Abstract]  
Schedule of receivables with imputed interest

The investment in account receivable consists of the following at March 31, 2024 and December 31, 2023:

 

    March 31,
2024		     December 31,
2023		  
Face value*   $ 285,100     $ 285,400  
Unamortized discount     (41,800 )     (46,551 )
Net balance     243,300       238,849  
Current portion     -       -  
Long term portion   $ 243,300     $ 238,849  

 

  * On January 10, 2023, the Company received the 2023 annual installment payment of $117,000. The Company applied the $117,000 to the face value of its investment in account receivable. At March 31, 2024, the Company had yet to receive the 2024 payment installment due in or around January 2024. Additionally, the Company reduced the face value of its investment in account receivable by an additional $300 for the three months ended March 31, 2024.