NOTE 13 – OFFICER LIFE INSURANCE PREMIUMS PAYABLE

On October 1, 2022, the Company committed to paying life insurance with the sellers of the membership interest in Innovative Network Designs LLC. The total amount of the obligation was $3,150,000 to be paid in equal installments of $450,000 over seven years. The obligation of $2,700,000 was presented on the balance sheet at December 31, 2024. On March 31, 2025, the officer life insurance premiums payable in the amount of $2,700,000 was extinguished due to the deconsolidation of ReachOut, IND and RedGear resulting in gain as described in note 8 - Assignment of assets and liabilities.