XML 20 R10.htm IDEA: XBRL DOCUMENT v3.25.1
OTHER ASSETS
 3 Months Ended
Mar. 31, 2025
Disclosure Text Block Supplement [Abstract]  
Other Assets Disclosure [Text Block]

4 – OTHER ASSETS

 

   Investment
in securities
- Zowie
Technology		   Other   Other
Assets
Total		 
Balance at December 31, 2024  $186,000   $    -   $186,000 
Other changes   (58,000)   -    (58,000)
Balance at March 31, 2025  $128,000   $-   $128,000 

 

Our $128,000 investment in securities as of March 31, 2025 relates to 317,428 shares of preferred convertible debt of Zowie Technology Corporation (Taipei Hsien, Taiwan), a supplier of electronic component products, with our option after three (3) years to convert 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. On January 15, 2025, we received $62,000 as an initial and partial refund of our investment in Zowie Technology Corporation.