Note 4 – Accounts Receivable and Income Tax Refunds Receivable

Accounts receivable at December 31, 2022 and 2021 consisted of the following:

 Schedule of Accounts Receivable

Accounts Receivable Sales Agreements

As of December 31, 2020, $1.7 million was outstanding and owed to three funding parties under three accounts receivable sales agreements. On September 14, 2021, the Company entered into separate settlement agreements with the three funding parties under which the Company agreed to repay an aggregate of $0.9 million in full settlement of the sales agreements. Per the settlement agreements, the Company was required to make equal monthly payments totaling $52,941 through January 1, 2023. As of December 31, 2022, the amounts owed were paid in full. As a result of the settlements, the Company recorded a gain from legal settlements of $0.6 million in the year ended December 31, 2021.

Income Tax Refunds Receivable

As of December 31, 2022 and December 31, 2021, the Company had $0.8 million and $1.1 million, respectively, of income tax refunds receivable. The Company’s income taxes are more fully discussed in Note 13.