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OTHER RECEIVABLES
 12 Months Ended
Dec. 31, 2022
Other Receivables  
OTHER RECEIVABLES

NOTE 4. OTHER RECEIVABLES

 

Other receivables were the following at December 31, 2022 and December 31, 2021:

 

   December 31,
2022		   December 31,
2021		 
Notes receivable  $1,598,340   $470,000 
Lease receivable   2,339,799    1,376,518 
Other   138,383    175,295 
Total other assets  $4,076,522   $2,021,813 

 

Notes receivable increased by over $1.1 million at December 31, 2022 compared to December 31, 2021, primarily due to a note receivable issued by the Company during 2022. The Company entered into a promissory note, through its entertainment segment, as part of a co-marketing agreement, with a principal amount of $3,000,000. Principal payment, since its inception, on this promissory note totaled $1,401,660 as of December 31, 2022, resulting in a remaining balance of $1,598,340 maturing December 31, 2023. Lease receivable increased by nearly $1.0 million primarily due to increased sales under the Company’s subscription model during 2022. The Company determines if an allowance for doubtful accounts by regularly evaluating notes receivable and individual customer lease receivables, by considering a customer’s financial condition, credit history, and current economic conditions. No allowance was deemed necessary for the year ended December 31, 2022. Other receivables relate to a related party receivable further described in Note 19.