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Accounts Receivable and Other

9 Months Ended

Sep. 30, 2019

Receivables [Abstract]

Accounts Receivable and Other

NOTE C – ACCOUNTS RECEIVABLE AND OTHER

Our accounts receivable consist of the following:

		September 30, 2019				December 31, 2018
Trade		$	28,159			$	9,466
Related party			234,955				664,596
Other			41,290				115,359
Total accounts receivable and other		$	304,404			$	789,421

Monaco and its affiliates owe us $141,738 and $612,498 for the periods ended September 30, 2019 and December 31, 2018, respectively, for support services and marine services rendered on their behalf. See NOTE D for further information regarding Monaco. During the quarter ended September 30, 2018, we began providing services for CIC LLC (“CIC”), a deep-sea mineral exploration company in which our past Chairman of the Board, Greg Stemm, has a controlling ownership interest. See NOTE D for further information. At September 30, 2019 and December 31, 2018, respectively, the company owed us $91,547 and $52,098, respectively. Monaco and CIC comprise the majority of the September 30, 2019 related party balance.

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- Definition

The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 310
-SubTopic 10
-URI http://asc.fasb.org/subtopic&trid=2196772

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- References

No definition available.

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