COMMITMENTS AND CONTINGENCIES
|6 Months Ended|
Jun. 30, 2023
|COMMITMENTS AND CONTINGENCIES|
|COMMITMENTS AND CONTINGENCIES||
NOTE 12. COMMITMENTS AND CONTINGENCIES
On December 6, 2006, Orange County Valet and Security Patrol, Inc. filed a lawsuit against the Company in Orange County California State Superior Court for Breach of Contract in the amount of $11,164. A default judgment was taken against the Company in this matter. In mid-2013 we learned the Plaintiff’s perfected the judgment against the Company, but we have not heard from the Plaintiffs. As of June 30, 2023 and December 31, 2022, the Company has accrued $11,164 plus accrued interest of approximately $19,000. In connection with the closing of our 2020 asset purchase transaction, in the event the Company is required to pay any money related to this lawsuit, the seller agreed to pay the amount for the Company in exchange for shares of our common stock.
In June 2023, the Company reached a settlement with a former employee for $60,000. This amount is included in accrued expenses at June 30, 2023 and was paid in July 2023.
The entire disclosure for commitments and contingencies.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef