LOAN RECEIVABLE	9 Months Ended
Sep. 30, 2023
LOAN RECEIVABLE
LOAN RECEIVABLE	NOTE 6 – LOAN RECEIVABLE On October 30, 2021, the Company entered into an agreement for a ten-year loan with Medihelm S.A. to memorialize €4,284,521 ($4,849,221) of the prepayments the Company had made. The prepayments to Medihelm S.A. had been made in accordance with the parallel export business, through which Medihelm supplied and would supply SkyPharm S.A. with branded pharmaceuticals. This business is no longer in place for the Company and thus the Company entered into this agreement with Medihelm S.A. in order for the outstanding amount to be settled. Interest is calculated at a rate of 5.5% per annum on a 360-day basis. Under the terms of the agreement, the Company is to receive 120 equal payments over the term of the loan. As of December 31, 2022, the Company had a short-term receivable balance of $377,038 and a long-term receivable balance of $3,792,034 under this loan. During the nine months ended September 30, 2023, the Company received €262,507 ($277,838) in principal payments such that as of September 30, 2023, the Company had a short-term receivable balance of $388,693 and a long-term receivable balance of $3,458,115 under this loan. The Company also received €132,581 ($140,324) in interest payments during the nine months ended September 30, 2023.

LOAN RECEIVABLE

9 Months Ended

Sep. 30, 2023

NOTE 6 – LOAN RECEIVABLE

On October 30, 2021, the Company entered into an agreement for a ten-year loan with Medihelm S.A. to memorialize €4,284,521 ($4,849,221) of the prepayments the Company had made. The prepayments to Medihelm S.A. had been made in accordance with the parallel export business, through which Medihelm supplied and would supply SkyPharm S.A. with branded pharmaceuticals. This business is no longer in place for the Company and thus the Company entered into this agreement with Medihelm S.A. in order for the outstanding amount to be settled. Interest is calculated at a rate of 5.5% per annum on a 360-day basis. Under the terms of the agreement, the Company is to receive 120 equal payments over the term of the loan. As of December 31, 2022, the Company had a short-term receivable balance of $377,038 and a long-term receivable balance of $3,792,034 under this loan. During the nine months ended September 30, 2023, the Company received €262,507 ($277,838) in principal payments such that as of September 30, 2023, the Company had a short-term receivable balance of $388,693 and a long-term receivable balance of $3,458,115 under this loan. The Company also received €132,581 ($140,324) in interest payments during the nine months ended September 30, 2023.