Annual report [Section 13 and 15(d), not S-K Item 405]

Investment in account receivable (Tables)

v3.25.1
Investment in account receivable (Tables)
12 Months Ended
Dec. 31, 2024
Receivables [Abstract]  
Schedule of receivables with imputed interest

The April 10, 2015 account receivable is supported by an exchange agreement and consisted of the following at December 31, 2024 and 2023:

 

    2024     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  
Long term portion   $ -     $ 238,849  

 

* Coincident with the June 11, 2024 impairment, accounts receivable of $2,300 were 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.