Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF DEBT (Details)

v3.23.2
SCHEDULE OF DEBT (Details)
 6 Months Ended
Jun. 30, 2023
USD ($)
Short-Term Debt [Line Items]  
Debt, beginning balance $ 7,467,900
Increase in borrowing 901,100
Principal reductions (157,800)
Long term debt to current
Amortization of debt discount
Debt, ending balance 8,211,200
Insurance financing 51,100
Monthly payments 5,100
Short Term Notes [Member]  
Short-Term Debt [Line Items]  
Debt, beginning balance 3,518,000
Increase in borrowing 901,100 [1]
Principal reductions (155,600)
Long term debt to current
Amortization of debt discount
Debt, ending balance 4,263,500 [2]
Convertible Notes, Unsecured [Member]  
Short-Term Debt [Line Items]  
Debt, beginning balance 1,605,000
Increase in borrowing
Principal reductions
Long term debt to current
Amortization of debt discount
Debt, ending balance 1,605,000
Current Portion Of Long Term Debt [Member]  
Short-Term Debt [Line Items]  
Debt, beginning balance 504,300
Increase in borrowing
Principal reductions (2,200)
Long term debt to current 2,300
Amortization of debt discount
Debt, ending balance 504,400
Long Term Debts [Member]  
Short-Term Debt [Line Items]  
Debt, beginning balance 1,840,600
Increase in borrowing
Principal reductions
Long term debt to current (2,300)
Amortization of debt discount
Debt, ending balance $ 1,838,300 [3]
[1] A) Secured note payable of $350,000, secured by certain real estate and equity, dated January 20, 2023, interest at an annual rate of 8.0% simple interest and matures on October 18, 2023. For the six months ended June 30, 2023, the Company recorded interest expense of $12,400. There was $12,400 accrued and unpaid interest as of June 30, 2023. B) A secured note payable of $300,000, secured by real estate and equity in subsidiaries dated March 10, 2023, interest at an annual rate of 8% simple interest and matures on December 10, 2023. For the six months ended June 30, 2023, the Company recorded interest expense of $7,400. There was $7,400 accrued and unpaid interest as of June 30, 2023. C) A secured note payable of $200,000, secured by real estate and equity in subsidiaries dated May 16, 2023, interest at an annual rate of 8% simple interest and matures on December 10, 2023. For the six months ended June 30, 2023, the Company recorded interest expense of $1,800. There was $1,800 accrued and unpaid interest as of June 30, 2023. D) Insurance financing of $51,100, which is being paid down with ten equal monthly payments of $5,100.
[2] The balance consists of $3,746,500 of secured notes, and $517,000 unsecured notes payable.
[3] Secured notes.