Annual report pursuant to Section 13 and 15(d)

Advance on Future Receipts (Tables)

v3.21.1
Advance on Future Receipts (Tables)
 12 Months Ended
Dec. 31, 2020
Debt Disclosure [Abstract]  
Schedule of Advances on Future Receipts

The Company has the following advances on future receipts as of December 31, 2020:

 

Note   Issuance Date   Maturity Date   Interest
Rate		     Original Borrowing     Balance at
December 31, 2020		     Balance at
December 31, 2019		  
                                 
Note 1   December 24, 2019   June 30, 2020     28 %   $ 506,000     $ -     $ 503,000  
Note 2   December 24, 2019   June 30, 2020     28 %     506,000       -       503,000  
Note 3   June 30, 2020   February 25, 2021     28 %     506,000       89,000       -  
Note 4   June 30, 2020   February 25, 2021     28 %     506,000       88,000       -  
Total                   $ 1,012,000       177,000       1,006,000  
Debt discount                         (67,000 )     (274,000 )
Net                           $ 110,000     $ 732,000