|
The
investment in account receivable consists of the following at September 30, 2024 and December 31, 2023:
Schedule
of receivables with imputed interest
| |
|
September 30,
2024
|
|
|
December 31,
2023
|
|
| Face value*
|
|
$ |
287,200 |
|
|
$ |
285,400 |
|
| Impairment |
|
|
(250,208 |
) |
|
|
- |
|
| Total |
|
|
36,992 |
|
|
|
285,400 |
|
| Unamortized discount |
|
|
(36,992 |
) |
|
|
(46,551 |
) |
| Net balance |
|
|
- |
|
|
|
238,849 |
|
| Current portion |
|
|
- |
|
|
|
- |
|
| Long term portion |
|
$ |
- |
|
|
$ |
238,849 |
|
| * |
Coincident with the June
11, 2024 impairment, accounts receivable of $2,300 was reclassed and concurrently impaired. Prior to the full impairment, the
Company reduced the face value of its investment in account receivable by an additional $100 per month for five receivable payment
installments at the nine months ended September 30, 2024. |
|