Standstill Agreement

3 Months Ended

Mar. 31, 2022

Standstill Agreements [Abstract]

Disclosure Of Standstill Agreements [Text Block]

Note J – Standstill Agreement

On November 13, 2020, pursuant to a Standstill Agreement dated October 30, 2020 ("the Agreement"), the Company received a $5,000 standstill fee from Florida Intellectual Properties, LLC ("FIP"). Pursuant to the terms of the Agreement, the Company agreed to negotiate in good faith to enter into a business combination agreement with FIP, and to not consider or negotiate other similar transactions so long as the Agreement remains in effect. The Agreement does not obligate either party to consummate a transaction, and until a definitive agreement is reached, or until the Agreement is cancelled by either party, FPI agreed to pay an additional $5,000 standstill fee on the first of each successive month.  For the three months ended March 31, 2022 and 2021, the Company received and recorded $3,594 and $3,475 respectively as  Income-Standstill Payments as an offset to operating expenses as the funds must be used for expenses incurred in the ordinary course of business. 

The Company estimated credit losses for these receivables were $27,923 and $30,169 at March 31, 2022 and December 31, 2021 respectively.