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OTHER INCOME
9 Months Ended
Sep. 30, 2023
OTHER INCOME  
OTHER INCOME

NOTE 14 - OTHER INCOME 

 

On January 10, 2022 (the “effective date”), the Company entered into a settlement agreement with a third party related to patent infringement. The term of this settlement agreement is from the effective date and terminates on December 31, 2023 (the “termination date”). The third party will pay a 7% royalty fee to the Company on the sale of its products through the termination date. For the nine and three months ended September 30, 2023 and since the effective date of this agreement, the Company recorded $10,188 in other income related to the royalty fees.