- Definition

The carrying value as of the balance sheet date of the current and noncurrent portions of long-term obligations drawn from a line of credit, which is a bank's commitment to make loans up to a specific amount. Examples of items that might be included in the application of this element may consist of letters of credit, standby letters of credit, and revolving credit arrangements, under which borrowings can be made up to a maximum amount as of any point in time conditional on satisfaction of specified terms before, as of and after the date of drawdowns on the line. Includes short-term obligations that would normally be classified as current liabilities but for which (a) postbalance sheet date issuance of a long term obligation to refinance the short term obligation on a long term basis, or (b) the enterprise has entered into a financing agreement that clearly permits the enterprise to refinance the short-term obligation on a long term basis and the following conditions are met (1) the agreement does not expire within 1 year and is not cancelable by the lender except for violation of an objectively determinable provision, (2) no violation exists at the BS date, and (3) the lender has entered into the financing agreement is expected to be financially capable of honoring the agreement.

+ References + Details

REVOLVING CREDIT LINE FACILITY (Details Narrative) - USD ($)				1 Months Ended				12 Months Ended
	Aug. 09, 2021	May 12, 2021	Feb. 04, 2021	Nov. 19, 2021	Sep. 29, 2021	Jun. 18, 2021	Mar. 30, 2021	Dec. 31, 2021	Dec. 30, 2021	May 01, 2021
CONVERTIBLE PROMISSORY NOTES
Revolving credit line facility amount			$ 3,750,000
Revolving credit line facility maximum amount			$ 3,750,000
Concentrates on delivery percentage rate			100.00%
Revolving credit line facility interest free term								45 years
Revolving credit line facility deliveries of concentrates or cash free term								120 years
Revolving credit line facility increased percentage rate										80.00%
Proceeds advances from buyers	$ 8,250,000	$ 37,500	$ 2,500,000	$ 8,250,000	$ 8,250,000	$ 6,750,000	$ 3,750,000		$ 9,250,000
Advances settlement date from buyers	Sep. 27, 2021	Jun. 16, 2021	Mar. 26, 2021	Dec. 30, 2021	Nov. 17, 2021	Aug. 05, 2021	May 12, 2021