LINE OF CREDIT / LOANS - RELATED PARTIES

6 Months Ended

Jun. 30, 2023

Debt Disclosure [Abstract]

LINE OF CREDIT / LOANS - RELATED PARTIES

NOTE 7. LINE OF CREDIT / LOANS - RELATED PARTIES

The Company considers its founders, managing directors, employees, significant shareholders, and the portfolio Companies to be affiliates. In addition, companies controlled by any of the above named is also classified as affiliates.

Line of credit from related party consisted of the following:

	June 30, 2023		December 31, 2022
May 20, 2020 (line of credit) Line of credit with maturity date of May 4, 2025, with 0% interest per annum with unpaid principal balance and accrued interest payable on the maturity date.		508,331		419,979
Total Line of credit - related party		508,331		419,979
Less: current portion
Total Long-term Line of credit - related party	$	508,331	$	419,979

Los Angeles Community Capital - $1,500,000 line of credit

On May 5, 2020, the Company amended its line of credit agreement to increase it to the amount of $1,500,000 with maturity date of May 4, 2025. The line of credit bears interest at 0% per annum and interest and unpaid principal balance is payable on the maturity date. The Company has used $508,331 from the line of credit of as of June 30, 2023.