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Note Receivable | 12 Months Ended
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Dec. 31, 2023
Note Receivable [Abstract] |
NOTE RECEIVABLE | NOTE 5 – NOTE RECEIVABLE On December 31, 2023 and 2022, note receivable consisted of the following:
|  | December 31, |  |  | December 31, |
|  | 2023 |  |  | 2022 |
Principal amount of note receivable |  | $ | 60,000 |  |  | $ | 60,000 |
Accrued interest receivable |  |  | 9,600 |  |  |  | 6,010 |
Subtotal |  |  | 69,600 |  |  |  | 66,010 |
Less: allowance for doubtful accounts |  |  | (69,600 | ) |  |  | - |
Note receivable – current |  |  | - |  |  |  | 66,010 |
On September 30, 2021, the Company executed a note receivable agreement with NFID, LLC in connection with an Asset Purchase Agreement (see Note 4). The promissory note bore 8% interest per annum and matured on October 1, 2023. On November 8, 2023 and effective on October 1, 2023, the Company and the Buyer entered into a First Amendment Promissory Note which increased the interest rate to 9% per annum and extended the maturity date to December 30, 2023 for no consideration. The outstanding principal and accrued interest shall be due and payable on maturity. As of December 31, 2023, the Company recognized an allowance for loss on the note receivable and accrued interest receivable in an amount equal to the estimated probable losses, and accordingly, the Company recorded bad debt expense of $69,600, which represents the note receivable principal balance of $60,000 and accrued interest receivable of $9,600, which is recorded in loss from discontinued operations on the accompanying consolidated statement of operations. As of December 31, 2022, this note receivable had outstanding principal receivable of $60,000 and accrued interest receivable of $6,010 for a total receivable balance of $66,010 which is reflected in the accompanying consolidated balance sheet as note receivable – current.

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- Definition The entire disclosure for claims held for amounts due a entity, excluding financing receivables. Examples include, but are not limited to, trade accounts receivables, notes receivables, loans receivables. Includes disclosure for allowance for credit losses. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 310 -SubTopic 10 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//310-10/tableOfContent + Details
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