The
April 10, 2015 account receivable is supported by an exchange agreement and consisted of the following at December 31, 2025 and 2024:
Schedule of receivables with imputed interest
| | |
2025 | | |
2024 | |
| Face value* | |
$ | 287,200 | | |
$ | 287,200 | |
| Impairment** | |
| (250,208 | ) | |
| (250,208 | ) |
| Total | |
| 36,992 | | |
| 36,992 | |
| Unamortized discount | |
| (36,992 | ) | |
| (36,992 | ) |
| Net balance | |
| - | | |
| - | |
| Long term portion | |
$ | - | | |
$ | - | |
| * | | Coincident with the June
11, 2024 impairment, accounts receivable of $2,300 were reclassified and concurrently impaired. Prior to the full impairment, the
Company reduced the face value of its investment in account receivable by an additional $100 per month for five receivable payment
installments. |
| ** | | Impairment as recordation of expected credit loss.
|
|