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ROYALTY OBLIGATIONS (Tables)
 9 Months Ended
Sep. 30, 2022
Royalty Obligations  
SCHEDULE OF ROYALTY OBLIGATIONS

 

Net Sales in Contract Year 

Percentage of

Contract Year
Net Sales owed to GE

 
$0 to $50,000,000   7%
$50,000,001 to $100,000,000   6%
$100,000,000+   5%
SCHEDULE OF ROYALTY OBLIGATION MINIMUM FUTURE MINIMUM PAYMENT

Minimum fixed future payment obligations are approximately as follows:

 

      
Year  Minimum Obligation
2022, remaining period  $300,000 
2023   2,638,000 
Total principal payments  $2,938,000