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Liability for Sale of Future Revenues | 9 Months Ended
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Sep. 30, 2020
Insurance Loss Reserves [Abstract] |
LIABILITY FOR SALE OF FUTURE REVENUES | NOTE 5 — LIABILITY FOR SALE OF FUTURE REVENUES At September 30, 2020 we are party to two agreements related to the sale of future revenues. Both agreements are with the same party, have substantially the same terms, and were entered into in December 2019. Discounts related to the agreements will be amortized to expense over the term of the agreements. During the three and nine months ended September 30, 2020, we amortized $35,623 and $101,432 of discount, respectively, to interest expense. Unamortized discount is $34,209 at September 30, 2020. The outstanding balance due pursuant to the agreements was $136,125 and $539,742 at September 30, 2020 and December 31, 2019, respectively. The Company has granted a continuing security interest in the following, to the extent and in the amount of the purchased receivables: all assets including the following property that the Company now owns or shall acquire or create immediately upon the acquisition or creation thereof: (i) any and all amounts owing to the Company now or in the future from any customers; and (ii) all other tangible and intangible personal property of every kind and nature.

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- Definition The entire disclosure for liabilities related to future policy benefits and unpaid claims and claim adjustments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 944 -SubTopic 40 -URI http://asc.fasb.org/subtopic&trid=2560295 + Details
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