Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF DEBT (Details)

v3.21.2
SCHEDULE OF DEBT (Details) - USD ($)
 6 Months Ended
May 25, 2021
Feb. 02, 2021
Jan. 19, 2021
Jun. 30, 2021
Short-term Debt [Line Items]        
Balance December 31, 2020       $ 5,782,300
Increase in borrowing       1,017,500
Principal reductions       (198,100)
Long term debt to current      
Amortization of debt discount       28,700
Balance June 30, 2021       6,630,400
Paycheck Protection Program [Member]        
Short-term Debt [Line Items]        
Balance December 31, 2020       590,300
Increase in borrowing [1]       130,100
Principal reductions      
Long term debt to current      
Amortization of debt discount      
Balance June 30, 2021       720,400
Short Term Notes [Member]        
Short-term Debt [Line Items]        
Balance December 31, 2020       3,032,800
Increase in borrowing [2]       52,400
Principal reductions       (186,400)
Long term debt to current      
Amortization of debt discount      
Balance June 30, 2021 [3]       $ 2,898,800
Debt Instrument, Interest Rate, Stated Percentage       5.10%
Debt Instrument, Maturity Date       Nov. 01, 2021
Convertible Notes Unsecured [Member]        
Short-term Debt [Line Items]        
Balance December 31, 2020       $ 1,605,000
Increase in borrowing      
Principal reductions      
Long term debt to current      
Amortization of debt discount      
Balance June 30, 2021       1,605,000
Current Portion of Long Term Debt and Capital Lease Obligations [Member]        
Short-term Debt [Line Items]        
Balance December 31, 2020       523,900
Increase in borrowing      
Principal reductions      
Long term debt to current       1,000
Amortization of debt discount      
Balance June 30, 2021       524,900
Long Term Debt and Capital Lease Obligations [Member]        
Short-term Debt [Line Items]        
Balance December 31, 2020 [4]       30,300
Increase in borrowing [5]       835,000
Principal reductions [4]       (11,700)
Long term debt to current       (1,000)
Amortization of debt discount       28,700
Balance June 30, 2021       881,300
Debt Instrument, Interest Rate, Stated Percentage 8.00% 8.00% 8.00%  
Debt Instrument, Maturity Date Jan. 18, 2026 Jan. 18, 2026 Jan. 18, 2026  
Interest Expense, Debt       5,400
Debt Instrument, Increase, Accrued Interest       5,400
Long Term Debt and Capital Lease Obligations One [Member]        
Short-term Debt [Line Items]        
Interest Expense, Debt       16,200
Debt Instrument, Increase, Accrued Interest       16,200
Long Term Debt and Capital Lease Obligations Two [Member]        
Short-term Debt [Line Items]        
Interest Expense, Debt       2,200
Debt Instrument, Increase, Accrued Interest       $ 2,200
[1] Paycheck Protection Program (“PPP”) draw #2, received the first quarter of 2021.
[2] Unsecured note payable insurance premium financing, interest at approximately 5.1% per annum, payable in 10 installments of $5,400, maturing on November 1, 2021.
[3] The balance consists of $2,460,000 of secured notes, and $438,800 unsecured notes payable.
[4] Secured notes.
[5] A) Unsecured note payable dated January 19, 2021, interest at an annual rate of 8% simple interest and matures on January 18, 2026. This note is included as part of a series of anticipated notes, all of which will be converted into common equity of Paragon Waste Services, LLC., in accordance with the note’s provisions. For the six months ended June 30, 2021, the Company recorded interest expense of $5,400. Unpaid interest at June 30, 2021 was approximately $5,400.  B) Note payable dated February 2, 2021, interest at an annual rate of 8% simple interest and matures on January 18, 2026. This note is included as part of a series of anticipated notes, all of which will be converted into common equity of Paragon Waste Services, LLC., in accordance with the note’s provisions. For the six months ended June 30, 2021, the Company recorded interest expense of $16,200. Unpaid interest at June 30, 2021 was approximately $16,200.  C) Note payable dated May 25, 2021, interest at an annual rate of 8% simple interest and matures on January 18, 2026. This note is included as part of a series of anticipated notes, all of which will be converted into common equity of Paragon Waste Services, LLC., in accordance with the note’s provisions. For the six months ended June 30, 2021, the Company recorded interest expense of $2,200. Unpaid interest at June 30, 2021 was approximately $2,200.