PURCHASE RECEIVABLES

12 Months Ended

Dec. 31, 2022

Purchase Receivables

PURCHASE RECEIVABLES

10. PURCHASE RECEIVABLES

In October, November, and December of 2021, Seaport Group Enterprises LLC and CapCall entered into a revenue based factoring agreement and received an aggregate of $1,000,000 in exchange for $1,300,000 of future receipts relating to monies collected from customers or other third-party payors. Under the terms of the agreement, the Company is required to make payments of $21,500, $13,000 and $8,995. As of December 31, 2022 the balance was $1,837,253.

In November 2021, Seaport Group Enterprises LLC and Fox Capital entered into a revenue based factoring agreement and received an aggregate of $475,000 in exchange for $607,500 of future receipts relating to monies collected from customers or other third-party payors. Under the terms of the agreement, the Company is required to make daily payments to $4,050. As of December 31, 2022 the balance was $0.

In October of In June of 2022, Seaport Group Enterprises LLC entered into a revenue-based factoring agreement with Lendspark Capital and received an aggregate of $ 2,637,600.00 Lendspark in exchange for 3,250,000.00 of future receipts to monies collected from customers or other third-party payors. Under the terms of the agreement, the Company is required to make daily payments for 46 weeks. Payments are current.

The following table presents a summary of the Company’s purchase receivables with unrelated third parties as of December 31, 2022:

Vendor	Amount		Issuance Date	Balance
Cap Call	$	1,000,000	3 loans 2020	$	1,837,253
Fox Capital		607,500	12/1/20		0
Lends Park Corp		3,119,163			3,033,210
	$	4,726,663		$	4,870,463

As of December 31, 2022, the Company had a total of $4,870,463 of purchase receivables.