v3.25.2
ASSIGNMENT OF ASSETS AND LIABILITIES
6 Months Ended
Jun. 30, 2025
Assignment Of Assets And Liabilities  
ASSIGNMENT OF ASSETS AND LIABILITIES

NOTE 8 – ASSIGNMENT OF ASSETS AND LIABILITIES

 

On March 31, 2025, the Company sold its interest in ReachOut Technology Corp. including its membership interests in its subsidiaries Innovative Network Designs LLC and RedGear LLC for a nominal amount. The sale/assignment was to an unrelated third party (“assignee or third-party assignee”) and includes disposal of 100% equity interest in these entities.

 

The Company recognized an impairment gain for the full value of its investment in ReachOut Technology Corp amounting to $11,233,944.