Long-term Receivables (Details Narrative) - USD ($) |
12 Months Ended | |
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Dec. 31, 2022 |
Dec. 31, 2021 |
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Receivables [Abstract] | ||
Long-term receivables | $ 2,463,100 | $ 185,000 |
Incremental borrowing rate | 4.00% | |
Royalty revenue | $ 2,810,580 | |
Imputed interest | 132,300 | |
Commission expense | 196,500 | |
Accrued commission payable | 194,700 | |
Accounts receivable | 507,400 | $ 374,500 |
Unamortized balance | $ 2,450,800 | |
Increase or decrease in incremental borrowing rate | 1.00% | |
Increase or decrease in present value of receivables | $ 21,400 |
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- Definition Amount, after allowance for credit loss, of right to consideration from customer for product sold and service rendered in normal course of business. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Carrying value as of the balance sheet date of obligations incurred through that date and payable for sales commissions. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Incremental percentage increase (decrease) in the stated rate on a debt instrument. No definition available.
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- Definition Amount of interest income on financing receivable from change in present value of expected cash flows attributable to passage of time. Excludes net investment in lease. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of unamortized loan commitment, origination, and other costs (fees) on financing receivable recognized as adjustment to yield. Excludes financing receivable covered under loss sharing agreement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition The interest rate applicable to the portion of the carrying amount of long-term borrowings outstanding as of the balance sheet date, including current maturities, which accrues interest at a set, unchanging rate. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The noncurrent portion of the receivable other than from customers, that is amounts expected to be collected after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The amount of cash paid for commissions during the current period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The receivable or note face amount less the unamortized discount or premium. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- References No definition available.
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- Definition Ancillary revenue earned during the period from the consideration paid to the entity for the use of its rights and property by another party. Examples include licensing the use of copyrighted materials and leasing the extraction of natural resources. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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