Agreements and Transactions with VIE’s

9 Months Ended

Sep. 30, 2023

Agreements And Transactions With Vies

Agreements and Transactions with VIE’s

Note 5 – Agreements and Transactions with VIE’s

The Company sells the INVOcell to its consolidated and unconsolidated VIEs and anticipates continuing to do so in the ordinary course of business. All intercompany transactions with consolidated entities are eliminated in the Company’s consolidated financial statements. Per ASC 323-10-35-8 the Company eliminates any sales to an unconsolidated VIE for INVOcell inventory that the VIE still has remaining on the books at period end.

The following table summarizes the Company’s transactions with VIEs:

	Three Months Ended September 30,					Nine Months Ended September 30,
	2023			2022		2023		2022
Bloom INVO, LLC
INVOcell revenue	$	9,000		$	6,000	$	19,500	$	6,000
Unconsolidated VIEs
INVOcell revenue	$	(3,975	)	$	6,000	$	5,775	$	22,500

The Company had balances with VIEs as follows:

	September 30, 2023		December 31, 2022
Bloom INVO, LLC
Accounts receivable	$	27,000		13,500
Notes payable		472,839		468,031
Unconsolidated VIEs
Accounts receivable	$	14,460		46,310