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Other Assets

9 Months Ended

Sep. 30, 2024

Deferred Costs, Capitalized, Prepaid, and Other Assets Disclosure [Abstract]

Note 8 – Other Assets

Other assets consisted of the following as of September 30, 2024 and December 31, 2023:

Schedule of Other Assets

	September 30,		December 31,
	2024		2023
Deposit on first position mortgage⁽¹⁾	$	275,000	$	-
VAT tax receivable⁽²⁾		245,411		-
Total other current assets	$	520,411	$	-

⁽¹⁾

On May 10, 2024, in connection with the lease of the Company’s Peru Facility, the Company paid $275,000 toward the purchase of a first position mortgage receivable in the amount of $1,267,000, which is secured by the Peru Facility and was owed by the landlord of the Peru Facility to its former tenant, for a purchase price of $1,267,000. The remaining $992,000 was due and payable on August 10, 2024, subject to certain requirements which haven’t yet been met, therefore the Company has deferred payment until a later date, to be determined.

⁽²⁾

VAT tax receivable is comprised of taxes that were paid as the Company imported equipment and raw materials into Peru. These taxes will be refunded as inventory is exported, or if equipment is exported for any unforeseeable reason.