Peter pay back your debt you little crook6. Promissory notes receivable (continued)
During 2023, Peter Tagliamonte repaid loan interest of $75,885 and repaid loan principal of $244,115 with loan principal of $216,507 remaining payable. To date, the remaining balance has not been repaid. The loan is currently overdue as the repayment date has not been extended and the loan continues to accrue interest after the repayment date. The Company is working with the borrower to arrange repayment as soon as possible. As at December 31, 2023, the Company recognized a carrying value of $228,080 with respect to these promissory notes (December 31, 2022: $528,880). Interest income of $19,200 was recognized for the year ended December 31, 2023 (year ended December 31, 2022: $141,295).