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OTHER INCOME
12 Months Ended
Dec. 31, 2023
OTHER INCOME  
OTHER INCOME

NOTE 13 – 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 year ended December 31, 2023 and since the effective date of this agreement, the Company recorded $11,735 in other income related to the royalty fees.