Annual report pursuant to Section 13 and 15(d)

Schedule of Investment in account receivable (Tables)

v3.3.1.900
Schedule of Investment in account receivable (Tables)
12 Months Ended
Dec. 31, 2015
Schedule of Investment in account receivable (Tables):  
Schedule of Investment in account receivable (Tables)

On July 8, 2014, the Company invested $90,000 in an account receivable with a face value of $117,000 which was supported by a promissory note maturing January 15, 2015 and consisted of the following at December 31, 2015 and 2014:

 

 

 

2015

 

2014

Face value

$

-

$

117,000

Unamortized discount

 

-

 

(2,250)

 Net balance

$

-

$

114,750

Schedule of Investment in account receivable supported by an exchange agreement (Tables)

The April 10, 2015 investment in account receivable is supported by an exchange agreement and consisted of the following at December 31, 2015 and 2014:

 

 

 

2015

 

2014

Face value

$

1,287,000

$

-

Unamortized discount

 

(674,427)

 

-

 Net balance

 

612,573

 

-

 Current portion

 

(92,542)

 

-

 Long term portion

$

520,031

$

-