Quarterly report pursuant to Section 13 or 15(d)

Investment in account receivable (Tables)

v3.23.3
Investment in account receivable (Tables)
 9 Months Ended
Sep. 30, 2023
Investment In Account Receivable  
Schedule of receivables with imputed interest

The investment in account receivable consists of the following at September 30, 2023 and December 31, 2022:

 

    September 30,
2023		     December 31,
2022		  
Face value*   $ 285,700     $ 403,600  
Unamortized discount     (61,200 )     (88,291 )
Net balance     224,500       315,309  
Current portion     -       -  
Long term portion   $ 224,500     $ 315,309  

 

* On January 10, 2023, the Company received the 2022 annual installment payment of $117,000. The Company applied the $117,000 to the face value of its investment in account receivable. Additionally, the Company reduced the face value of its investment in account receivable by an additional $100 per month for the nine months ended September 30, 2023.