Quarterly report pursuant to Section 13 or 15(d)

SCHEDULE OF DEBT (Details)

v3.24.1.1.u2
SCHEDULE OF DEBT (Details)
 3 Months Ended
Mar. 31, 2024
USD ($)
Short-Term Debt [Line Items]  
Debt, beginning balance $ 8,201,800
Increase in borrowing 217,400
Principal reductions (9,800)
Long term debt to current
Debt, ending balance 8,409,400
Short Term Notes [Member]  
Short-Term Debt [Line Items]  
Debt, beginning balance 4,243,100
Increase in borrowing 217,400 [1]
Principal reductions (7,500)
Long term debt to current
Debt, ending balance 4,453,000 [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
Debt, ending balance 1,605,000
Current Portion of Long Term Debt and Capital Lease Obligations [Member]  
Short-Term Debt [Line Items]  
Debt, beginning balance 509,800
Increase in borrowing
Principal reductions (2,300)
Long term debt to current 2,400
Debt, ending balance 509,900
Long Term Debt [Member]  
Short-Term Debt [Line Items]  
Debt, beginning balance 1,843,900
Increase in borrowing
Principal reductions
Long term debt to current (2,400)
Debt, ending balance $ 1,841,500 [3]
[1] A) Secured note payable of $150,000, secured by certain receipts and equity, dated January 31, 2024, interest at an annual rate of 8.0% simple interest. For the three months ended March 31, 2024, the Company recorded interest expense of $2,000. There was $2,000 accrued and unpaid interest as of March 31, 2024. B) An unsecured note payable of $30,000, dated March 27, 2024, interest at an annual rate of 8% simple interest and matures on May 31, 2024. For the three months ended March 31, 2024, the Company recorded interest expense of less than $100. There was less than $100 accrued and unpaid interest as of March 31, 2024. C) An unsecured note payable of $37,400, dated February 6, 2024, interest at an annual rate of 10% interest and is payable in ten payments ending in November of 2024. For the three months ended March 31, 2024, the Company recorded interest expense of $400. There was $0 accrued and unpaid interest as of March 31, 2024.
[2] The balance consists of $3,945,000 of secured notes, and $508,000 unsecured notes payable.
[3] Secured notes.