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OTHER ASSETS
 12 Months Ended
Dec. 31, 2024
Disclosure Text Block Supplement [Abstract]  
Other Assets Disclosure [Text Block]

5 - OTHER ASSETS

 

The following table presents a summary roll-forward of other assets:

 

   December 31, 
   2024   2023 
         
Investment in securities - Zowie Technology  $186,000   $186,000 
Other Assets Total  $186,000   $186,000 

 

Our $186,000 investment in securities as of December 31, 2024 relates to 317,428 shares of preferred convertible debt of Zowie Technology Corporation (Taipei Hsien, Taiwan), a supplier of electronic component products (see Part I: Item 1 – Business – Suppliers) with our option after three (3) years to convert the investment into common stock or refundable bearing 7% annual interest rate. Our investment represents approximately 6% of their total outstanding shares although we do not have significant influence or control. This investment is accounted for under the cost (plus impairment) basis of accounting, however when facts and circumstances indicate that the carrying value of this asset may not be recoverable, we recognize an impairment loss. The impairment loss recognized is the amount by which the carrying amount exceeds the estimated fair value.

 

In 2024, we requested the full refund and return of our investment (see Note 13 – Subsequent Events).