XML 53 R12.htm IDEA: XBRL DOCUMENT v3.22.1
LIABILITY FOR SALE OF FUTURE REVENUES
12 Months Ended
Dec. 31, 2021
LIABILITY FOR SALE OF FUTURE REVENUES  
LIABILITY FOR SALE OF FUTURE REVENUES NOTE 6 - LIABILITY FOR SALE OF FUTURE REVENUES

 

During 2020 and 2019 we were party to two agreements related to the sale of future revenues. Both agreements were with the same party, had substantially the same terms, and were entered into in December 2019. Total repayments were $567,001. As a result, we recorded an initial discount of $142,491. Discounts related to the agreements were amortized to expense over the term of the agreements. One of the agreements was paid in full as of December 31, 2020. During the years ended December 31, 2021 and 2020, we amortized $2,719 and $132,922 of discount, respectively, to interest expense. Unamortized discount is $0 and $2,719 at December 31, 2021 and 2020, respectively. The outstanding gross balance due before discounts pursuant to the agreements was $0 and $10,904 at December 31, 2021 and 2020, respectively. During 2021 our remaining agreement related to the sale of future revenues was paid in full.