NOTES PAYABLE (Tables)

3 Months Ended

Mar. 31, 2022

Notes Payable

SCHEDULE OF NOTES PAYABLE

Notes payable consists of the following:

	March 31,			December 31,
	2022			2021			Maturity	Interest Rate
Economic Injury Disaster Loan - originated in May 2020 (1, 3)	$	500,000		$	500,000		30 years		3.75	%
Promissory note - originated in September 2020		42,888			50,456		$2,873.89 monthly payment for 36 months		14.0	%
Promissory note - originated in December 2020		28,791			33,039		$1,854.41 monthly payment for 36 months		8.0	%
Promissory note - originated in January 2021		41,998			48,583		$2,675.89 monthly payment for 36 months		18.0	%
Promissory note - originated in February 2021 (2)		1,318,819			1,328,850		5 years		4.0	%
Promissory note - originated in April 2021		693,333			832,000		1 year		12	%
Promissory note - originated in July 2021		282,000			282,000		1 year		12	%
Promissory note - originated in September 2021		52,599			55,576		$1,383.56 monthly payment for 60 months		28	%
Promissory note - originated in December 2021		-			406,300		$20,050 weekly payment		49	%
Promissory note - originated in December 2021		110,785			241,714		$10,071.45 weekly payment		4.94	%
Promissory note - originated in December 2021		16,763			189,975		$2,793.75 daily payment		7	%
Promissory note - originated in March 2022		485,920			-		$20,995 weekly payment		49	%
Promissory note - originated in March 2022		104,143			-		$642.86 daily payment		15	%
		3,678,039			3,968,493
Less debt discount and debt issuance cost		(332,500	)		(476,727	)
		3,345,539			3,491,766
Less current portion of promissory notes payable		1,640,958			1,720,777
Long-term promissory notes payable	$	1,704,581		$	1,770,989

(1)	The Company received an advance under the Economic Injury Disaster Loan (EIDL) program.
(2)	On February 12, 2021, the Company issued notes payable of $1,404,000 to settle license fee payable of $1,094,691. As a result, the Company recorded loss on settlement of debt of $309,309 in fiscal year 2021.
(3)	The Company received a second advance under the EIDL program in fiscal year 2021.