Quarterly report pursuant to Section 13 or 15(d)

Note 8 - Accounts Receivable

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Note 8 - Accounts Receivable
 9 Months Ended
Sep. 30, 2023
Notes to Financial Statements  
Accounts and Nontrade Receivable [Text Block]

Note 10. VAT Receivable

 

On January 1, 2021, VAT rules relating to imports and exports between the UK and EU changed as a result of the UK’s departure from the EU. As of September 30, 2023 and December 31, 2022, the Company recorded a receivable in the amount of approximately $369,000 and $433,000, respectively, for amounts available to reclaim against the tax liability from UK and EU countries.
Accounts Receivable [Member]  
Notes to Financial Statements  
Accounts and Nontrade Receivable [Text Block]

Note 8. Accounts Receivable

 

              At September 30, 2023 and December 31, 2022, accounts receivable consisted of the following:

 

                 
   

September 30, 2023

    

December 31, 2022

  
   

(Unaudited)

    

(Audited)

  

Gross accounts receivable – trade

   $ 8,039,121     $ 383,786  

Less: allowance for doubtful accounts

     (237,000 )     -  

Accounts receivable – trade, net

   $ 7,802,121     $ 383,786  

 

Bad debt expense was approximately $12,000 and $- for the three and nine months ended September 30, 2023 and 2022, respectively.

 

Accounts receivable – trade, net for the Company as of January 1, 2022 and  September 30, 2022 were approximately $0.3 million and $0.7 million, respectively.