Receivables

12 Months Ended

Dec. 31, 2018

Receivables [Abstract]

Receivables

6. Receivables

The following table summarizes the receivables at December 31, 2018 and 2017:

	December 31, 2018
	Legal Fees			Settlement			Total
Gross receivable	$	911,000		$	1,783,795		$	2,694,795
Reserve for uncollectibility		(455,500	)		(1,649,043	)		(2,104,543	)
Net receivable		455,500			134,752			590,252
Short-term receivable		455,500			134,752			590,252
Long-term receivable	$	-		$	-		$	-

	December 31, 2017
	Legal Fees			Settlement			Total
Gross receivable	$	911,000		$	2,214,728		$	3,125,728
Reserve for uncollectibility		(455,500	)		(1,549,043	)		(2,004,543	)
Net receivable		455,500			665,685			1,121,185
Short-term receivable		-			300,000			300,000
Long-term receivable	$	455,500		$	365,685		$	821,185

During the quarter ended December 31, 2017, an officer of the Company offset his receivable and trade payable totaling $280,823. This offset reduced the amount of the settlement and was approved by the Company’s Board.

In December 2017, former CFO, Peter Culpepper (“Culpepper”) settled an administrative proceeding with the SEC. As a result of this settlement, Culpepper was required to disgorge himself of $140,115 along with interest of $12,261 for a total payment to the Company of $152,376. The Company recorded the settlement as an account receivable at December 2017 and received payment in January 2018. There was no change to the reserve for 2018.

During the quarter ended December 31, 2018, an officer of the Company offset his settlement amounts owed to the Company against accrued payroll owed to him totaling $150,000. This offset reduced the amount of the settlement and was approved by the Company’s Board.