Quarterly report pursuant to Section 13 or 15(d)

Investment in account receivable

v2.4.1.9
Investment in account receivable
3 Months Ended
Mar. 31, 2015
Investment in account receivable:  
Investment in account receivable

Note 5 – Investment in account receivable

 

The investment in account receivable is supported by a promissory note which matured January 15, 2015 and consists of the following:

 

 

 

March 31,

2015

 

December 31,

2014

Face value

$

-

$

117,000

Unamortized discount

 

-

 

(2,250)

     Net balance

$

-

$

114,750

 

The note was paid and extinguished in March 2015.  For the three months ended March 31, 2015 and 2014, $2,250 and $0 of discount amortization is included in interest income.