ACCOUNTS AND NOTES RECEIVABLE
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
Receivables [Abstract]    
ACCOUNTS AND NOTES RECEIVABLE

NOTE 3 – ACCOUNTS AND NOTES RECEIVABLE

 

     March 31,2022     December 31, 2021 
Accounts Receivable  $1,194,438   $768,032 
Less reserve for uncollectable accounts   (75,000)   (75,000)
Total  $1,119,438   $693,032 

 

Our Accounts Receivable is pledged to Nations Interbanc, our line of credit.

 

     March 31, 2022     December 31, 2021 
Lease asset  $217,584   $217,584 

 

The Company is currently modifying the assets subject to lease to meet the provisions of the agreement, and as of March 31, 2022 any collection on the lease payments was not yet considered probable, resulting in no derecognition of the underlying asset and no net lease investments recognized on the sales-type lease pursuant to ASC 842-30-25-3.

 

     March 31, 2022     December 31, 2021 
Long-term financing receivables  $932,270   $932,270 
Less Reserve for uncollectable accounts   (247,500)   (247,500)
Long-term financing receivables - net  $684,770   $684,770 

 

On a contract by contract basis or in response to certain situations or installation difficulties, the Company may elect to allow non-interest bearing repayments in excess of 1 year.

 

Our long term financing Receivable are pledged to Nations Interbanc, our line of credit.

 

 

NOTE 3 – ACCOUNTS AND NOTES RECEIVABLE

 

   December 31, 2021   December 31, 2020 
Accounts Receivable  $768,032   $340,378 
Less reserve for uncollectable accounts   (75,000)   (75,000)
Total  $693,032   $265,378 

 

Our Accounts Receivable is pledged to Nations Interbanc, our line of credit.

 

   December 31, 2021   December 31, 2020 
Lease asset  $217,584   $217,584 

 

The Company is currently modifying the assets subject to lease to meet the provisions of the agreement, and as of December 31, 2021 any collection on the lease payments was not yet considered probable, resulting in no derecognition of the underlying asset and no net lease investments recognized on the sales-type lease pursuant to ASC 842-30-25-3.

 

   December 31, 2021   December 31, 2020 
Long-term financing receivables  $932,270   $1,000,000 
Less Reserve for uncollectable accounts   (247,500)   (247,500)
Long-term financing receivables - net  $684,770   $752,500 

 

On a contract by contract basis or in response to certain situations or installation difficulties, the Company may elect to allow non-interest bearing repayments in excess of 1 year. The delay for commissioning has been due to Covid pandemic and engineering delays.

 

Our long term financing Receivable are pledged to Nations Interbanc, our line of credit.